Nifty Spot Closing Price @ 5211
Nifty Spot Supports @ 5100-4970
Nifty Spot Resistances @ 5330-5450
Last week in our Nifty technical analysis, We mentioned Nifty is broadly in neutral and sideways zone between 5400-5700. Closing below 5370, Trend will change into bearish and June low 5256-5195 possible. The weakening financial and debt crisis in the US and Europe took a toll on our markets and Nifty hit 5116. Nifty spot closed at 5211.
For Next week, Nifty is in bearish mode. Next Nifty spot supports stands at 5130-5050-4970. Technically, Nifty is bearish below 5350. Until and Unless Nifty trades below 5350, Bears will try to short on every rise. Closing above 5350 trend will become mild positive and 5410-5470-5560 will come in picture. Now, Both short term and medium term are Bearish and long term is bullish and this is the time to accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame as this was ongoing consolidation and corrective phase for long term.
" Trade with Levels not with Hope "
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Nifty Spot Closing Price @ 5482
Nifty Spot Supports @ 5400-5330
Nifty Spot Resistances @ 5560-5650
Last week in our Nifty technical analysis, We mentioned Nifty is mild bullish and closing above 5730 for 2 days, it could move towards 5800-5848. As expected the strong resistance zone mentioned last week proved to be too strong and the market reversed exactly from there due to unexpected 50bps interest rate hike by the RBI. Later, Market corrected and closed below crucial support of 5530.
For Next week, Nifty spot below 5530 next crucial support stands at 5410-5370. Technically, Nifty is in sideways zone between 5400-5700. Trend is broadly neutral now between 5400-5700. Closing above 5700 for 2-3 days, Trend will become bullish and next upside target could be 5800-5848-5930. Closing below 5370, trend would change into bearish and June low of 5256-5195 will come in picture.Short term and Medium Term are Neutral. Long term is Bullish and this is the time to accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame as this was ongoing consolidation and corrective phase for long term.
" Trade with Levels not with Hope "
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Nifty Spot Closing Price @ 5634
Nifty Spot Supports @ 5530-5410
Nifty Spot Resistances @ 5730-5848
Last week in our Nifty technical analysis, We mentioned Nifty is neutral with further consolidation between 5500-5650 possible. On Upside Nifty spot has resistances at 5652 and Until and unless Nifty spot holds 5495 on closing basis, chance of pullback rally possible. Nifty recovered from key support of 5530-5495 and closed at 5634.
For Next weel, Nifty Spot Trend is mild Bullish until it holds 5530 on closing basis. On Upside Nifty spot has resistances at 5652 and then at 5717-5752. If Nifty Spot closes above 5730 for 2 days, then it will move towards 5800-5848. One should continue to Hold Long positions or Buy on Decline with SL 5530 on closing basis. Closing Above 5730, Nifty will streghten its bulishness. On Downside, Nifty Spot has supports at 5530-5495. Closing below 5495, next supports of 5410-5355 will come in picture. Currently, Short term is Bullish Above 5495 spot closing. Medium Term is Neutral and will change into Bullish Above 5750. Long term is Bullish and we always mentioned to accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame as this was ongoing consolidation and corrective phase for long term.
" Trade with Levels not with Hope "
Regards,
www.equityahead.com
www.equityahead.net
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Nifty Spot Closing Price @ 5581
Nifty Spot Supports @ 5495-5410
Nifty Spot Resistances @ 5652-5750
Last week in our Nifty technical analysis, We mentioned Nifty Spot has crucial resistance of 200 DMA around 5750. Nifty is also overbought, Hence some consolidation possible around 5550-5750. If Nifty Spot closes above 5750 for 2 days, then it will move towards 5832-5945. On Downside, Crucial Support at 5600 and then at 5541. Nifty traded between 5530-5650 for most of the time.
For Next week, Trend is neutral with further consolidation between 5500-5650 possible. On Upside Nifty spot has resistances at 5652 and then 5750. If Nifty Spot closes above 5750 for 2 days, then all trend will change into Bullish and it will move towards 5832-5945 in short term. On Downside, Strong support at 5495 and 5410. Until and unless Nifty spot holds 5495 on closing basis, chance of pullback rally possible. Closing below 5450 trend will change into bearish and next supports of 5410-5355 will come in picture. Currently, Short term is Neutral Above 5500 spot closing. Medium Term is Neutral and will change into Bullish Above 5750. Long term is Bullish and we always mentioned to accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame as this was ongoing consolidation and corrective phase for long term.
" Trade with Levels not with Hope "
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
Nifty Spot Closing Price @ 5660
Nifty Spot Supports @ 5600-5541-5442
Nifty Spot Resistances @ 5750-5832-5945
Last week in our Nifty technical analysis, We mentioned Trend is Bullish but profit booking at higher level possible. Next Crucial resistances stands @ 5720-52. Above these levels, Nifty can move towards 5800-5871-5920. Nifty Spot failed to close above 5752 and finally closed @ 5660 on Friday.
For Next Week, Nifty Spot has crucial resistance of 200 DMA around 5750. Nifty is also overbought, Hence some consolidation possible around 5550-5750. If Nifty Spot closes above 5750 for 2 days, then it will move towards 5832-5945. On Downside, Crucial Support at 5600 and then at 5541. Closing below 5541 trend will change into bearish. Currently, Short term is Bullish Above 5600 Spot closing. Medium Term is Neutral. Long term is Bullish and we always mentioned to accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame as this was ongoing consolidation and corrective phase for long term.
" Trade with Levels not with Hope "
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
Nifty Closing Price @ 5627
Nifty Supports @ 5520-5410
Nifty Resistances @ 5720-5871
Last week in our Nifty technical analysis, we mentioned Trend is Bullish with major Hurdle @ 5550-5610. Nifty continued to move upward from 5471 to 5705 while crossing hurdle of 5550-5610 and closed at 5627. For Next Week, Trend is still Bullish but profit booking at higher level possible. Next Crucial resistances stands @ 5720-52. Above these levels, Nifty can move towards 5800-5871-5920. On Downside, Strong supports at 5520 - 5458 - 5410. As long as 5520 holds, Trend will be Bullish. Closing below 5458 trend will change into bearish again. Medium Term is Neutral. Long term is Bullish and we always mentioned to accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame as this was ongoing consolidation and corrective phase for long term.
" Trade with Levels not with Hope "
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
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
