NIFTY VIEW FOR THE WEEK STARTING 22nd JUL 2024
מעודכן
Nifty analysis is based on PEMA and Hull Moving Average. On Friday Nifty had formed a Bearish Engulfing Pattern. The trend or the direction of Nifty seems to be on the down side if it breaks 24500 and closes below it. Then we can see a level of 23200.
If it breaks the high of 24860 and closes above it , then the market turns Bullish and we can see new highs in the coming days.
If it breaks the high of 24860 and closes above it , then the market turns Bullish and we can see new highs in the coming days.
הערה
Tomorrow being the budget day there will be lot of noises till 1 pm, after which the market will settle down and the direction will be known. If Luck is on our side then we can get some quick money, otherwise we may end up loosing capital. Better to avoid trading.Today Nifty(SPOT) closed with an INDECISIVE CANDLE.
Technical may not work on such eventful day.
I you still want to trade then trade with small quantity and move in the direction of the trend. Reverse your position when the trend changes.
Buy above 24600 (SPOT) or Sell below 24350(SPOT) and book your profit or move with trailing stop loss.
הערה
Nifty moved violently and closed in Red. Even though it closed in Red , recovered almost 400 points. Todays candle is also an indecisive candle. Only if Nifty closes below 24300 , we can have a bearish view. The follow up candle after the bearish engulfing candle on Friday does not support the view that the market is down.
We may get a clear picture tomorrow.
For short term nifty is down on 1 hr time frame & 15 minutes time frame. till it breaks and closes above 24610.
Trade safely and wisely.
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הערה
pls check this also.
הערה
Nifty is bearish only if it closes below 24300.In one hour time frame nifty is in sell mode till it closes above 24525.
Trade wisely and safely.
הערה
Nifty broke the trendline and recovered smartly, but did not close above yesterdays high.Nifty in one hour time frame is still in sell mode(Bearish) with a stop above 24525.
On the daily time frame If nifty closes below 24300, then it may turn bearish
At this point of time all the global markets are in negative( almost all the global indices are around 1% down), it is likely that Nifty may break the trendline tomorrow.
Disclaimer: I am NoT a SEBI Registered analyst.
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