NIFTY 30 NOVEMBER 2021 : Nifty can revisit 16800 levels. No rise can sustain unless it goes above 17200 levels.

 

Good morning friends, 

Well, it has closed below 100 DMA and it has faced resistance at 100 DMA. This market is definitely turning weaker on chart as the days progresses. 

It is looking for retest of 16800 levels again. I have drawn some Fibonacci retracement and it is looking to take support in the range of 16800 to 16600 levels and that's too wide.  

If it breaks 16600 then we can visit the levels of 16200 to 16000 levels. While on higher side it may not be safe as long as it is staying below 17200 levels. 

Flat start may again invite selling but I will not be easily tradable. We already saw too many swings in the last session. 

At these levels I advised caution even from long term picking. 

Happy Trading. 

NIFTY 29 NOV 2021 : Will it break 17000 so easily? Resistance is at 100 EMA which is at 17145.

 

Good morning friends, 

It was a sell off and a panic selling too. Eventually it broke 100 EMA with ease. Now, question is will it break 17000 levels in that ease?

Fine, as per charts are concern, 16890-16800 is the level to be tested but it seems we are going to get gap up as indicated by SGX nifty. 

In that case 17145 which is 100 EMA will act as threshold point. Definitely, I will not short this market without bounce. It is likely to test 17250-17300-17350 levels if this can manage to stay above 17150 levels. 

If break 17000, in an hour it can hit 16890-16800. 

Happy Trading. 

NIFTY 25 NOVEMBER 2021 : No bounce can sustain below 17600. It is preparing for 16800 levels.

 

Good morning friends, 

Nifty faced resistance at 17600 levels and slipped. What a slip it was. It has given edge to bears. Now we have two meaningful support. One is at 17230 then at phycological 17000 and then at 16800 levels. 

On higher side even 17500 may act as stiff resistance. Final resistance is at 17600. If it can sustain above 17600 then only we will have some words for bulls. 

Today is monthly expiry and it is interesting to see. It is looking like we may get continuation of sell off. 

Regards, 

Praveen Kumar

NIFTY 22 November 2021 : H&S pattern can give a fall towards 16800 after a n-line test of 17600.

 

Good morning friends, 

Well, need to say what is happening in this market? Charts is speaking itself. Above is daily chart. It has formed H&S pattern and we got a breakout too. 

We have 100 DMA at 17130 levels which is a support. Bulls, be happy with this only. 

maximum we can get a retest of n-line which is at 17600 levels and this market is likely to be prepared for 16800 sooner or later. 

I gave my suspicion of trend reversal. Now, I am almost sure. 

If you are playing for bounce then also be careful. 

Happy Trading.  

NIFTY 17 NOVEMBER 2021 : Keep an eye on 17900 levels. If it breaks then we can see anther big intraday slip.

 Good morning friends, 

Now a day it is better to analyze with hourly chart. Above it same and it is showing support at 17900. Big question is will it test 17900?

Technical sense is that it will test 17900 and then it will be make or break levels. It is rebound from 17900 or say 17930 or say 17890, it can sustain for one bounce. 

Suppose it is fail at 17900 then it will go to hit 17800 to 17750 levels. 

Once again, it seems that 10 am is going to crucial as most of the directive move comes afterwards. 

Happy trading. 

NIFTY 15 NOVEMBER 2021 : Now Nifty is likely to face resistance at 18200 or at 18350 levels. Expect volatility and tussle.

 Good morning friends, 

This is hourly chart of Nifty and this is really am impressive chart. I have quoted for the target of 18100 in the last session but I was not expecting this to come so early. This creates the momentum. 

Will this invite for new all time high? 

Fine, it is giving the sense every time but somehow that momentum has yet to come. Suppose if we got impressive today also then we may have  great chance. 

In that way today seems to be a make or break day. Either Nifty will manage top and strong close or it will give us at top. 

Failure of any top around 18200 can invite the retest of 17900 again. 

Cross over of 18200 can push Nifty towards 18350 levels. 

Let us see how it shapes and where is the trading opportunity. If opens with gap up then it will even more difficult. Gap up may result one intraday dip around 10 am. It will be hard to say if it is a dip to buy or sign of weakness. Be careful. 

Happy Trading. 

NIFTY 12 NOVEMBER 2021 : Once again, bounce from 17800, now eyeing for 18000 to 18100 marks.

 Good morning friends, 

Above is the hourly chart of nifty. We can able to observe the support coming at 17800 levels. This support can lead Nifty to some recovery after sharp fall. If Nifty shape up well this morning with good opening then this market can go test 18100 levels too. 

Well, it may be too early to talk about 18100 but immediate target can be 17960 levels. A level which work many time in recent days. 

Suppose if it makes much of trade above 17960 then it will great sign of strength. 

Now, support if it doesn't. Well, in that alter view will in force. It means Nifty can have a chance to go back to 17800. 

Keep above levels and views in mind. 

Happy trading. 

NIFTY 11 NOVEMBER 2021 : Nifty is likely to face resistance at 18100 levels. Break below 17930 could invite bears.

 

Good morning friends, 

Yesterday also we saw a gain but then it slipped from higher levels again. The high was again lower than 18100 levels. 

This is confirming the resistance of 18100. Now we have weekly derivative expiry. Technical sense is that if it breaks 17930 then we can see a remarkable dip. This dip could be around 17850 to 17800 levels. 

I suggest it is going to be volatile to highly volatility.  

Happy Trading. 

NIFTY 10 NOVEMBER 2021 : Facing resistance at 18100 levels, Nifty is likely to move around 17850 to 17700 levels.

 Good morning friends, 

Yesterday was a day of confusion that run whole day but biasing remains bearish. Now, it is likely to take gap down opening. 

Well, will this gap down invite some bounce? It should give us a bounce but that's not compulsory. Even if it comes then also it may fail at 18000 levels. 

It is looking like trend is changing for medium term at least. If that happens then it is a bad news for market. I suggest do not attempt long trade today even in dip because it may go dicey at every levels. 

Be careful, I am expecting unprecedented volatility. 

Happy trading.  

NIFTY 9 NOVEMBER 2021 : Nifty came up surprisingly. If maintains above 18100 then we can see some more upmove.

 

Good morning friends, 

Definitely I was not expecting this bounce. The moment it crosses 17960-17970, it added great sign of fueling for upside. It looks like after Diwali, money and momentum came back in the market. 

Now 18000 should be a trading support and 17950 should be a trading support. You can have a look on above chart where I have drawn an upward trading channel. 

If this trading move sustain then we can expect a target of 18350 and then on fresh claim we can expect a new all time high. Opps, too early to say. Right now, first we have see how Nifty treat 18150. 

Be careful at 18150 and 18000 levels. These can be dicey levels. 

Happy Trading. 

NIFTY 08 NOVEMBER 2021 : Nifty is looking for form a H&S pattern. Longer it stay below 18000, higher will be chance for 17500 kinda levels.

 

Good morning friends, 

I said this earlier too and repeating it now also. Longer Nifty stay below 18000 levels, higher will be chance for 17600-17500 levels. 

Does this result the change in trend. 50 Days Moving average is nearing at 17700 levels. Pattern wise is is looking for short term trend reversal. I am not saying that long term is going to chance in anyhow. We are far too higher than those levels. 

For todays trading, Nifty will face 17960 < 18000 < 18050 levels. I am finding it easier for slip towards 17800- 17700 levels. 

Take a note what has happened on Wednesday. It slipped two hundred points then bounced 100+ points and then slipped again by 150 points. This is not easily manageable.  

Happy Trading. 

NIFTY 03 NOVEMBER 2021 : Weekly expiry can be extremely volatile to down before Diwali trading.

 

Good morning friends, 

Nothing is impossible in stock market. When it was looking like never fall market, it slipped. Now, It is not moving above 18000 and giving every indication of dip. We have weekly derivative expiry today and tomorrow will be Diwali holiday. 

I am not quoting any levels as support. It is looking as Nifty may not cross above 17960 and then it can slip to test 17650 to 17600 levels sooner or later. 

What's for bulls?

Fine, first indication to buy can come only above 17960. Any rise above 17960 can sustain. It is very unlikely to happen but this is a possibility. 

Happy trading. 

NIFTY 02 NOVEMBER 2021 : Nifty has test point for bulls at 17960 and 18000 and 18050. Caution advised at these levels.

 

Good morning friends, 

Nifty took a swing from lower levels as expected and closing was also impressive. The next important level is 17960 < 18000 < 18050. 

Fine, yesterday was an easy day for bulls and today we may have different day. I may not be as aggressive as yesterday. In fact today may be a day of caution. 

I am still advising long trade only but be cautious when ever Nifty comes at 17960 or 18000 or 18050. 

If Nifty to reverse for long term or medium term then it may fail at any of the above levels. I can say today be the test day for bulls. 

Take a note longer it sustain below 18000, higher is the chance of trend reversal. 

Happy Trading. 

NIFTY 01 NOVEMBER 2021 : Bounce is very likely now. Interesting to see today's top.

 

Good morning friends, 

Nifty as rebounded from lower levels but sold again at higher levels. Eventually it closed on weak note only. If I can see the change on the chart, it is RSI. 

It is definitely interesting to see how top is going to shape up today. I am expecting a gap up opening. If this gap up sustain then a target that should be reachable 17800 and then 17950 levels. Well, when I am writing this I am expecting too much from market. 

Market need fresh money to reach those levels. Nifty has almost filled many gap up trade with this recent fall. 

Will the new all time high come again?

I have no clear cut answer now. Longer it sustain below 18000, lower will be the chance. So by this of trade if this can move above 18000 then we can think of. 

Happy Trading.