Nifty Closing Price @ 5471
Nifty Supports @ 5340-5252
Nifty Resistances @ 5600-5752
Last week in our Nifty technical analysis, we mentioned Trend is negative with support @ 5330-5280. Below 5280, it could move towards 5238-5177. Nifty made low 5195 after breaching all support of 5330-5280-5238 due to Mauritius treaty news. After making low @ 5195, Nifty recovered sharply and closed strongly @ 5471. Sharp recovery was mainly due to short covering and Value buying at lower level. For Next week, Trend is Bullish with major Hurdle @ 5550-5610. Above 5610, Next crucial resistances stands @ 5710-5752. On Downside 5340 will act as crucial support. Now, Short term is bullish and Medium term is bearish below 200 DMA of 5752. Long term is bullish and this ongoing consolidation and corrective phase is long term time-wise correction only. Hence, One should accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame.
" Trade with Levels not with Hope "
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
Nifty Closing Price @ 5366
Nifty Supports @ 5300-5177
Nifty Resistances @ 5470-5600
Last week in our Nifty weekly technical analysis, We mentioned that trend is still neutral with some negative bias. Trend can only be bullish if closes above 5600. Closing below 5451, Nifty will move towards 5370-5300. Nifty Hit 5355 on Friday. For Next week, Trend is negative as of now until nifty closes above resistance zone of 5470. Next immediate nifty supports stands @ 5330-5280. Below 5280, it could move towards Feb low of 5238-5177. On upside, near term resistance stands @ 5470. Closing above 5470 with good volume can move nifty towards 5530-5600 where major resistance will come in picture. Now, Both Short term is bearish and Medium term is bearish below 200 DMA of 5757. Long term is bullish and this ongoing consolidation and corrective phase is long term time-wise correction only. Hence, One should accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame.
" Trade with Levels not with Hope "
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
Nifty Closing Price @ 5486
Nifty Supports @ 5380-5256
Nifty Resistances @ 5600-5757
Nifty Trend Deciders @ 5402-5600
Last week in our Nifty weekly technical analysis, We mentioned that trend is still neutral and most the momentum indicators are mixed. closing below 5451 & Above 5600 will make Bearish and Bullish Trend respectively. Nifty Spot failed to close Above/Below 5600 and 5451. For next week, short term trend is still neutral with some negative bias. Trend will change into bullish only if closes above 5600 for at least 2 days with good volume. Above 5600, It can move towards 5652-5691-57357. On Downside immediate supports stands @ 5451-5420. Closing below these levels May support of 5370-5300 will come in picture. Hence, Short term is Neutral and Medium term is bearish now below 200 DMA of 5757. Long term is bullish and this ongoing consolidation and corrective phase is long term time-wise correction only. Hence, One should accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame.
" Trade with Levels not with Hope "
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
Nifty Closing Price @ 5517
Nifty Supports @ 5451-5330
Nifty Resistances @ 5620-5757
Nifty Trend Deciders @ 5451-5610
Last week in our Nifty weekly technical analysis, We mentioned that trend is still neutral and closing below 5400 & Above 5610 will make Bearish and Bullish Trend respectively. Nifty Spot failed to close Above/Below 5610 & 5400. Although Nifty gives up weekly closing gain but trend is still neutral. For next week, Nifty will face stiff resistance @ 5600-5620 zone. Most of the technical momentum indicators are mixed. There are multiple resistances between 5600-5757. Once Nifty spot closes above 5600-20 zone, It can move towards 5652-5691-5738-5777. On Downside Strong Support @ 5451-5420. Closing below these levels May support of 5370-5300 will come in picture. As long as 5451-20 holds, Trend will be neutral. Medium term is bearish now below 200 DMA of 5757. Long term is bullish and this ongoing consolidation and corrective phase is long term time-wise correction only. Hence, One should accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame.
" Trade with Levels not with Hope "
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
