Jul 12, 2023
Nifty 13th July 2023 Expiry Trade Setup
Resistance1943419451Target 19597.90Support1933019250Target 19172.90 Read the full article
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Nifty 13th July 2023 Expiry Trade Setup
Resistance1943419451Target 19597.90Support1933019250Target 19172.90 Read the full article
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Nifty: Current Support and Final Target Before Crash
Introduction:
Recently institutional investors made significant profit bookings when the Nifty reached the psychological level of 19500. This development has sparked discussions and raised concerns about the possibility of a market crash. In this blog, we will delve deeper into the current situation, examining the ongoing swing target, support levels, and the potential for a continued bullish rally. Additionally, we will analyze the formation of an inverted hammer pattern and its implications for future price movements.
The Uncompleted Swing Target:
Despite the profit bookings, it is essential to note that the current swing target has not yet been achieved. This suggests that there is still room for further upward movement in Nifty. Traders and investors should exercise caution before assuming a bearish market sentiment.
Support at 19085 and Retest of Trendline:
To provide stability, a support level has been established at 19085. This level acts as a floor for the market, preventing significant declines. Additionally, there is a retest of a trendline that broke upside on June 30th, indicating the potential for the bullish trend to continue without retracement. This retest further supports the notion that a market crash is unlikely at this point.
The Strongly Bullish Trend:
One of the positive factors contributing to the optimism is the strongly bullish trend observed in Nifty. The index has displayed resilience and the potential to continue its rally without significant retracement. This trend reflects the confidence and optimism of market participants.
Analyzing the Inverted Hammer Pattern:
On the weekly chart, an inverted hammer pattern has formed in Nifty. Traditionally, this pattern signifies a reversal from a bullish to a bearish trend. However, it is crucial to approach this pattern with caution. Until the low of the previous candle is breached and closed below 19234.40, there is still a possibility of further upward movement in the index.
Conclusion:
Institutional investors' profit bookings at the psychological level of 19500 in Nifty have sparked concerns about a potential market crash. However, considering the uncompleted swing target, the presence of a support level at 19085, and the retest of the trendline, a crash seems unlikely in the near term. The strongly bullish trend also supports the potential for a continued rally in Nifty. While the inverted hammer pattern suggests a reversal, confirmation through the breach of key levels is crucial. Traders and investors should closely monitor the price action and the breach of the low of the previous candle to gauge the direction of future price movements in Nifty. By staying informed and vigilant, market participants can make more informed decisions in these dynamic times. Read the full article
Target PointsBased on historical data and technical indicators, we can analyze the Nifty's movement towards the levels of 20160, 20390, and 20718.65.Covid-19 Crash Level AnalysisThe Nifty experienced a high of 12430.50 and a low of 7511.10 following the Covid-19 crash in January 2020. Technically, the retracement for the upward movement from the bottom was positioned at 15470.70. However, due to the index's strong momentum, there was no opportunity to re-enter at this level.Throughout the period from June 2021 to June 2023, the Nifty consistently maintained the value of the 1.618 Fibonacci level and traded at higher levels. We can observe that the 2.618 Fibonacci level aligns with 20390.10, which suggests a potential target for the Nifty's upward movement.Profit BookingInstitutional investors typically regard the levels of 20160, 20390, and 20718.65 as significant profit booking zones. These levels serve as price points where investors often take profits from their positions.Before making any investment decisions, it is crucial to understand that market movements can be influenced by a variety of factors and are subject to change based on new information or events. Therefore, it is advisable to conduct thorough analysis, consider other indicators, and evaluate current market conditions. By taking these steps, investors can make informed decisions and mitigate potential risks associated with market volatility.https://nsebull.com/analyzing-niftys-april-performance-from-every-angle/
The benchmark Sensex showcased an impressive performance, gaining 418 points and settling at a more than six-month high. Meanwhile, the Nifty index crossed the 17,700 mark, driven by the prevailing optimism in global markets and encouraging domestic macroeconomic indicators.Sensex's upward trajectory continued for the second consecutive session, as it soared by 418.45 points or 0.67%, finally settling at 63,143.16. Throughout the day, it achieved a remarkable advancement of 452.76 points or 0.72% to reach 63,177.47.Similarly, the NSE Nifty experienced an upward climb, closing at 18,716.15 after a notable gain of 114.65 points or 0.62%.StocksNoteworthy gainers among the Sensex constituents were ITC, Titan, Asian Paints, Reliance, Tata Steel, Bajaj Finserv, Axis Bank, Hindustan Unilever, Infosys, Bajaj Finance, Nestle, and ICICI Bank. However, Kotak Mahindra Bank, Mahindra & Mahindra, HCL Technologies, State Bank of India, Bharti Airtel, and Tata Motors faced a decline in their stock values.In positive news on the economic front, retail inflation in May witnessed a significant drop, reaching a 25-month low of 4.25%. This decline can be attributed to the softening prices of food and fuel items. Notably, this marks the fourth consecutive month of declining retail inflation, with the Consumer Price Index (CPI)-based inflation remaining within the Reserve Bank of India's (RBI) comfort zone of below 6%.Additionally, official data released on Monday revealed that India's industrial production growth surged to 4.2% in April, compared to 1.7% in March 2023. This notable increase can be attributed to the impressive performance of the manufacturing and mining sectors.Global MarketOn the global front, Asian markets such as Seoul, Tokyo, Shanghai, and Hong Kong closed in the green. European equity markets were also mostly positive, while the US markets concluded in positive territory on Monday.Furthermore, Brent crude, the global oil benchmark, witnessed a climb of 1.55%, reaching USD 72.95 per barrel.According to data, Foreign Institutional Investors (FIIs) sold equities worth βΉ626.62 crore on Monday.On Monday, the 30-share BSE benchmark experienced a modest climb of 99.08 points or 0.16%, finally settling at 62,724.71. Similarly, the Nifty made a gain of 38.10 points or 0.21%, closing at 18,601.50.
Market Update: The market is expected to open with a slight increase on June 13, as indicated by the SGX Nifty. The SGX Nifty reflects a positive start for the broader index, with a 31-point gain after opening the session at 18,710. During the early trade on June 13, SGX futures reached a high of 18,746, further indicating a positive market sentiment.In the previous trading session, on Monday, the BSE Sensex recorded a gain of 99 points, closing at 62,724 points. Similarly, the Nifty 50 also showed a positive performance, finishing 38 points higher at 18,601 points. It is worth noting that the Nifty50 traded comfortably above its 200-day moving average of 18,416, which suggests the potential for continued upward momentum in the market.This market update indicates positive prospects for investors and highlights the ongoing positive momentum in the market.Resistance1866618692Support1849018422Nifty : https://nsebull.com/indian-benchmarks-hold-weekly-gains-amid-slide/
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Introduction: Indian shares faced a second consecutive session of decline on Friday, driven by broad-based selling as investors reacted to signals of tighter monetary conditions from the Reserve Bank of India (RBI). In this SEO blog post, we will delve into the market analysis, including key indicators and expert opinions, to provide valuable insights into the recent developments in the Indian stock market.Indian Stock Market Performance:Indian benchmarks showcased remarkable resilience in the face of recent market decline as they managed to hold on to their weekly gains. The Nifty 50, a renowned blue-chip index, closed just 0.38% lower at 18,563.40, while the benchmark S&P BSE Sensex experienced a modest decline of 0.35%, closing at 62,625.63. These numbers carry significant implications for investors and underscore the market's ability to weather short-term fluctuations.Expert Opinions:The potential impact of El Nino, and the rise in the minimum support price that influenced the RBI's cautious approach towards significant cuts in the inflation forecast. Nair also emphasizes the eagerly awaited domestic inflation data for May and its potential impact on the market.Market Factors:In addition to domestic influences, global cues play a significant role in shaping the market trend. The outcomes of the FOMC meeting and the US inflation print are closely monitored by investors. This analysis emphasizes the interconnectivity of global markets and their impact on Indian shares.Market Sentiment:The sentiment meter reflects the overall market breadth, favoring bears in this analysis. A detailed breakdown of the number of stocks ending in the green and red further illustrates the current market sentiment.
Introduction: Indian shares faced a second consecutive session of decline on Friday, driven by broad-based selling as investors reacted to signals of tighter monetary conditions from the Reserve Bank of India (RBI). In this SEO blog post, we will delve into the market analysis, including key indicators and expert opinions, to provide valuable insights into the recent developments in the Indian stock market.Indian Stock Market Performance:Indian benchmarks showcased remarkable resilience in the face of recent market decline as they managed to hold on to their weekly gains. The Nifty 50, a renowned blue-chip index, closed just 0.38% lower at 18,563.40, while the benchmark S&P BSE Sensex experienced a modest decline of 0.35%, closing at 62,625.63. These numbers carry significant implications for investors and underscore the market's ability to weather short-term fluctuations.Expert Opinions:The potential impact of El Nino, and the rise in the minimum support price that influenced the RBI's cautious approach towards significant cuts in the inflation forecast. Nair also emphasizes the eagerly awaited domestic inflation data for May and its potential impact on the market.Market Factors:In addition to domestic influences, global cues play a significant role in shaping the market trend. The outcomes of the FOMC meeting and the US inflation print are closely monitored by investors. This analysis emphasizes the interconnectivity of global markets and their impact on Indian shares.Market Sentiment:The sentiment meter reflects the overall market breadth, favoring bears in this analysis. A detailed breakdown of the number of stocks ending in the green and red further illustrates the current market sentiment.
https://nsebull.com/nifty-expiry-day-08-june-2023/