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Niftymediumtermoutlook

Medium to long term targets for Nifty. We have used parallel channel and Fibonacci retracement on Nifty weekly chart to gauge medium to long term targets for Nifty. The Fibonacci retracement points out that the support for Nifty will remain at 25233(Fibonacci Support and mid channel support), 23903 (Important Fibonacci support), 23774 (Important Mother line support or 50 weeks EMA, channel bottom support). Nifty can go below these levels only in situation of another major global event or some major local event. If we get a closing below 23774 the Bear will be in commanding situation and will have the power to take Nifty further down towards 21743 which was the recent low we reached during Indo-Pak conflict. The resistances for Nifty now are at 26277 (Major Resistance, Previous All Time high of Nifty), The next leap of faith for Nifty can be towards 27665 after we get a closing above 26277. (This will be a major hurdle and in next 1 year or so it is highly unlikely that we will cross this level unless we hit a euphoria zone.) This zone is also the current channel top zone. In very unlikely circumstance of Nifty crossing 27665 the next target for Nifty will be at 29539. (This looks possible in 18 to 24 months). We will be very lucky to reach this zone earlier. You never say never in the market. As of now the local factors remain optimistic but there is a concern by experts related to valuation of market. As the Nifty PE currently is around 23. The results in the next couple of quarters will determine if Bull market stays active. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTYLong
by Happy_Candles_Investment
50 bps Repo Rate Cut boosts Nifty. Can it fly further now?The market was expecting a Repo Rate Cut From RBI. The expectation was for 25bps but what we got today from RBI was a bumper 50 bps rate cut. This propelled Nifty to close above much coveted level of 25K as Nifty managed to close at 25003. Now Nifty has entered a critical resistance zone. This zone starts from around 25037 to 25146. Closing above 25146 is mandatory for Nifty to fly further and gain further momentum. Last 4 weeks or so Nifty has been returning back from this zone. We can see this in the weekly chart of Nifty. With rate cut the chances for Nifty to fly above this most important levels has increased a lot. The resistances for Nifty Now Remain at: 25037, 25146 (Important Trend line Resistance, Bulls will be very active above this level.), 25473, 25804 and 26277. Further levels will be given once we get a closing above 26277. The supports for Nifty remain at: 24642, 24425, 23904, 23597 (Most important Mother Line of Weekly Candles). Below this level Nifty will become very week again and bears can drag Nifty further down towards 23201 (Important Trend Line Support). If this is broken in unlikely global or local geo-political event then Nifty can further fall to 22169 or even 21671 levels in unlikely scenario of major geo-political event unfolding. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTYLong
by Happy_Candles_Investment
Fibonacci Supports and Resistances Medium to Long term Outlook.Here we have tried to show you Fibonacci supports and resistances for Nifty on Monthly chart with Medium to Long term outlook. Fibonacci retracement suggests the nearby major resistances at 25233. Crossing this zone and closing above this zone is imperative for proper bull market to return. In such a scenario the next resistances will be at 26277 (Previous All Time high). Closing above 26277 will open the door for the targets of 27K+. The Golden ratio of Fibonacci suggest the cap near 29540 within next 13 to 21 months. Supports for Nifty remain at 24443, 23903, 23375. Below 23375 Bear market can return and can drag Nifty towards unlikely levels of 22737 or 21743. (This looks unlikely as of now but you can never say never looking at the Tariff wars and not so conducive Geo-Political situation of the subcontinent, Russia-Ukraine, Israel and other factors.) So one eye of investors should be on macro factors also while looking at rosy micro factors related to Indian markets. While we look forward to making new highs in the next 1 or 2 years. Never forget Stop losses / Trailing stop Losses are best friends of investors. Stop losses protect your capital and trailing stop losses protect your profits. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
Three Year Parallel Channel of Nifty with Multiple indicators. We have tried to draw a Three Year Parallel Channel of Nifty with Multiple indicators. We will try to understand what is happening as per each indicator and try to get the jist of moves that may occur with a medium to long term perspective. Indicator 1) Parallel Channel: The parallel channel indicates that after hitting the channel top at 26277 the Nifty is receding and is on a search of it's bottom from where it can launch forward again. That is the case when every time Nifty has it a channel top as you can see in the chart. The Future Channel Top once Nifty picks up the next Bull run seems to be around 29497 as per the parallel channel. Mid channel support of the parallel channel is around 23500 zone which can support Nifty. If we get a weekly closing below 23500 this level will become a resistance. In such a scenario of weekly closing below 23500 Channel bottom seems to be near 21296. Indicator 2) Fibonacci Retracement: Fibonacci retracement suggests a bottom near 23263. If this level is broken there is a possibility of Nifty falling to the next fibonacci supports will be at 22506 and 21577. Once the Bull run begins the next resistance levels as per Fibonacci seem to be at 24725, 26777 (Previous high), 27162 and finally 28331. Indicator 3) Bollinger Band: Support with respect to lower width of Bollinger Band seems to be near 23340. Mid Bollinger band resistance seems to be near 24660 and Bollinger band upper width resistances seems to be near 25981. Indicator 4) RSI or the Relative Strength Index: RSI currently is at 44.41 and going downwards showing weakness. The RSI support can be found in the zone of 40, 38 or 36. Usually When RSI is below 30 the stock or index is considered oversold and when the stock or index RSI is above 70 it is considered overbought. RSI Below 20 is extremely oversold zone and RSI above 80 is considered extremely overbought. Indicator 5) MACD or Moving Average Convergence and Divergence: MACD is a combination of Moving averages lines which tend to indicate direction in which stock or index will move and histograms indicate strength or weakness of a rally. As per MACD Nifty right now is in extreme Bear grip and will take a little time to recover. When the Blue line will start moving upwards and when it might cross the red line and continue to move upwards it can be considered as Nifty will come back to Bull Zone. Colour of histograms at that time will also start going Dark Green or light Green. Indicator 6) 50 and 200 weeks EMA or the Mother and Father line: I have designed a theory called Mother, Father and Small Child Theory. As per this theory the movement of index or a stock in the chart is like a movement of a 3 year old child when it goes to a garden. The movement of 50 EMA is like movement of the mother and movement of the 200 EMA is like movement of a Father of that child. To know more about this theory or other indicators mentioned earlier you need to read my book THE HAPPY CANDLES WAY TO WEALTH CREATION. This book is available in Amazon in paperback or Kindle version. It is one of the Highest rated book in the category. Have a look at that book it will help you immensely in your wealth creation journey. Now as per this theory the Nifty right now is at 23587. 50 Weeks EMA is at 23403. 200 Weeks EMA is at 19335. as the Nifty is above these levels both these levels will work as a great support to Nifty and can help Nifty from falling further. Conclusion: Nifty is approaching multiple supports from where it has potential to turnaround. Mid channel support is around 23500, 50 Weeks EMA support or the Mother line is at 23403. 23340 is the Bollinger band lower band width support. Fibonacci support is at 23263. We can see a turnaround mostly from either of these three supports. If these supports are broken by chance (looks less likely but you can never say never) then the next supports will be at 22507, 21296 or worst case scenario as of now looks like 19335. On the upper side resistances seem to be at 24660 Fibonacci mid resistance, 24725 is the Fibonacci resistance, 25981 is Bollinger band upper width resistance and 26277 is the Fibonacci resistnace which also the previous high of Nifty. Once this zone is crossed in a long term we can reach the targets of 27162 Fibonacci resistance, 28331 Fibonacci golden ratio resistnace and 29497 which is the approximate nex channel top. (This is the Medium to Long term outlook of Nifty). This is how you can analyse any index or a stock using the 6 indicators mentioned in the writeup. I give top most priority to these 6 indicators in my analysis. Disclaimer: Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Medium to Long Term Outlook. Nifty on a weekly chart seems to be in the consolidation mode. With important geopolitical events that happened around the globe and India Nifty is trying to find a firm footing from where it can launch ahead. The events like Ukraine and Russia conflict, Israel and Iran++ conflict, Indian election results, Haryana assembly elections, US elections proved very volatile for the market. Upcoming events like China stimulus package and Maharashtra Elections will also be key for the direction of Nifty while moving ahead. Best case Scenario for Nifty right now following the Parallel channel seems to be 27796 towards the mid and end of First quarter of 2025. (We would have to be a pure optimist to think it can reach close to 28K in the next 5/6 months but you never say never). Median Scenario can keep Nifty range bound and we might find it exactly in the zone that it is right now that is between 24K and 25K. Worst case scenario for Nifty seems to be between 20 and 21K as of now.(This is a less likely scenario but you never say never). Major Support Levels for Nifty are at: 23816, 23211(Major Support 50 Weeks EMA-Mother Line), 22711, 21813, 21343 and 20858 (Channel Bottom Support). Major Resistance levels for Nifty are : 24589, 25241, 25796, 26277, 27120 and 27796 (Channel Top Resistance). To learn more about Parallel Channels and Mother, Father and Small Child theory read my book. The Happy Candles Way to Wealth Creation Available on Amazon in paper back and Kindle version. The book is now available on Google Play books in E-version too. Disclaimer: The views are personal and request you not to take positions based on the above data. The chart and the levels given in the message are purely for the purpose of education.
NSE:NIFTY
by Happy_Candles_Investment
Medium Term Nifty Outlook. 24869 proving to be strong resistance for Nifty. If this range is crossed the next resistance will be near 24949 and previous high of 25078. The major support zone is between 24657 and 24738. Right now Nifty is sandwiched between this zone and major move can be seen only after we get a closing above or below these two levels. The top of the trend seems to be near the previous high of Nifty that is 25078. If and when we get a closing above 25078 (Weekly closing). The next target which is also a channel top for Nifty will be near 25411. If we get a closing below 24657 the next major supports will be near 24437, 24120 and finally 23893. Below 23893 there will be weakness and bears can take over the market. Shadow of the candle right not is slightly green in colour (positive).
NSE:NIFTYLong
by Happy_Candles_Investment
Combination of Fibonacci and trend lines and Parallel Channel. We will try to look at Nifty with the combination of Fibonacci, Parallel Channel and Trend lines and few other parameters to get the outlook for short to medium term on Nifty. Combination of various parameters mentioned above indicate that Door For Nifty reaching 26K+ within this year might have already opened. Various resistances on the way will be at 24783, 24874 followed by strong resistance of the previous high of 25078. Once we get a weekly or a monthly closing above 25078 the next resistances will be at 25410, 25839 and finally 26321 (Within this year or within this financial year). Supports for Nifty will be at 24643, 24517, 24324 and finally 24115. Below 24115 the final support for Nifty will be at 23893. Below this level the bull rally will be over and bears can take control of the market.
NSE:NIFTYLong
by Happy_Candles_Investment
Good close by Nifty but important ATH Resistance approaching. Nifty Medium Term Outlook: Nifty saw a good closing on Friday as it closed comfortably above 22K at 22040. The closing today has opened the channel going towards new All Time High (ATH) and perhaps go further up as well. The previous ATH that is 22126. The top of the channel seems to be near 23369 but Nifty will take a lot of time to reach there and lot of local and international events happening can hamper the progress all of a sudden. The situation in the Red Sea, Financial Troubles of China and some global inflation data seems not so conducive for further growth of market but you never know how markets behave. The ideal thing to do for investors and traders is to protect their Capital and Profits through stop losses and trailing stop losses. Volatility in the market will remain a key factor till Fed decides for a rate cut which doesn't seem likely till mid July 2024 or later. Nifty Support Levels: 21966, 21550, 21410, 20961, 20526, 20246 and finally 20052. (Below 20052 closing it will be a total bear market). Nifty Resistance levels: 22126 (Important ATH Resistance) , 22400 (Important Fibonacci resistance, 22752 and finally 23369 (chanel Top).
NSE:NIFTYLong
by Happy_Candles_Investment
Medium Term and Long Term Targets for Nifty for 2024. There are two trend triangles formed in the daily chart of Nifty. The larger triangle indicates the long term target for Nifty at 23098. The triangle within that which indicates the medium term range or target of Nifty tells us that current rally can peak near 22326. In the process of reaching these targets the support zones are indicated by the green lines and Mother, Father lines (50 and 200 days EMA) which are at 21743, 21486, 20988, 20880 50 Days EMA strong support (Mother line), 20542, 20268, 19857 and finally 19599 200 days EMA very strong support (Father line, 200 days EMA).
NSE:NIFTYLong
by Happy_Candles_Investment
Medium to Long term Target for Nifty around 19,000. Strong closing on Friday and a good budget have increased the hopes of a post budget rally in Nifty investors are hoping that the worst of Hindenburg-Adani Saga is behind us and the momentum gained on Friday can continue further. In any case in the medium to Long term target of Nifty is Point B shown in the chart which is around 18800 and 19,000. How Nifty reaches there is the point. Either we will see Nifty take the route of point A to point B directly or we may see further consolidation and Nifty might go from A to C first and then it may go from point C to point B. The routes are purely based on assumption and mathematical models which might not be very accurate. The purpose of chart is to provide education. The time when Nifty will reach point B can’t be estimated accurately as there are many unknown factors and surprise elements at play. One important deduction, 17386 is a major support for Nifty which should not be taken down on weekly closing. If 17386 is broken the trend will become negative.
NSE:NIFTYLong
by Happy_Candles_Investment
NIFTY For Reminder of the week. Caution Please. Data Heavy week.NIFTY is facing stiff resistance near its new peak of 18887.6. Global cues are not supporting and Nifty is looking for support. It will be fair enough if Nifty comes down slightly searching for support. Outcome of Monetary policy meet started this week is expected around 7th December. We also have upcoming Assembly Election results which can defy Global cues and take the Nifty further to new highs if the results are supportive to the market. It can be a volatile few days and traders should remain cautious. Major Support Levels : 18591, 18370 and 18120. Major Resistance Levels : 18771, 18887 and finally the medium term target of 19135.
NSE:NIFTY
by Happy_Candles_Investment
Medium Term Market (Nifty) Outlook. Nifty confirmed support at 15180-191 range and pushed ahead. Time will tell if this is a temporary or permanent support but for now a closing on Friday above 15650 levels is a good sign for now. Closing above near term resistance of 15750 would have been even better but current closing is also not bad. Support and resistances in the near term are as under: Nifty Resistances: 15750, 15880, 16030 and finally 16174. Closing above 16174 can further strengthen Nifty and send it towards 16400 and finally 16785 in the short to medium term. Nifty Supports: Supports for Nifty can be seen near 15622, 15500, 15368 and finally 15182. Below 15182 only major support is near 15050. Below 15050 we can see a free fall towards 14500/14300 or even 13700-800 levels in very unlikely circumstances.
NSE:NIFTYLong
by Happy_Candles_Investment