Nifty
Nifty 50 continues to face selling pressure, struggling to reclaim its 200 DEMA support at 23,540, which also aligns with a key channel pattern support. A sustained breach below 23,500 could extend the decline to 23,200, coinciding with the 50-week EMA. However, a positive RSI divergence hints at weakening bearish momentum, though a reversal is yet to be confirmed. Options data indicates a rangebound outlook between 23,300–23,700, with significant resistance at 24,000. The cool...
Nifty 50 Struggles Below 200 DEMA, Faces Selling Pressure at 23,540 - Tradebulls Securities Pvt Ltd
Nifty
Nifty continues to drag lower yet it tried to regain above its 200 DEMA support level of 23500 which also coincides with a key channel pattern support. If the Nifty 50 sustains below 23,500, given the bearish sentiment the decline could extend to 23,200, which coincides with the 50-week EMA. On the upside, the 23,800-23,900 range could act as a resistance zone for the week. However, a positive RSI divergence hints at weakening bearish momentum, though a clear reversal is yet to be co...
Options data indicates a range-bound outlook of 23,300–23,700, with strong resistance at 24,000, reflecting cautious sentiment - Tradebulls Securities Pvt Ltd
Nifty
The Nifty is at a crucial juncture, testing key support and resistance levels amidst a mixed sentiment backdrop. The 200 DEMA at 23,500, aligning with channel pattern support, remains critical; a breach could lead to a further decline toward 23,200, coinciding with the 50- week EMA. On the upside, the 23,800–23,900 range presents immediate resistance, with a broader hurdle at 24,000. A positive RSI divergence signals weakening bearish momentum, though a clear reversal is yet to...
The Nifty is at a crucial juncture, testing key support and resistance levels amidst a mixed sentiment backdrop - Tradebulls Securities Pvt Ltd
Nifty
Post the Nifty's 9% correction has found support near its 200-day moving average (23,500), coinciding with a key channel pattern. Weak global cues, a strong dollar index, record-low rupee levels, high inflation, and foreign investor outflows have driven the decline. However, a positive RSI divergence hints at weakening bearish momentum, though a clear reversal is yet to be confirmed. Options data indicates a range-bound outlook of 23,300–23,700, with strong resistance at 24...
Options Data Hints Range-Bound View : 23,300-23,700, Resistance 24,000 - Tradebulls Securities Pvt Ltd
Nifty
Nifty50 index is fluctuating between 24,160 and 24,400, which is a very small range. Around the 24,160 mark, the "Inside Bar" candlestick pattern has just emerged, indicating a possible end to the declining trend and an eventual rise that might be driven on by a big short-covering rally in the early November series. However, we would want a distinct closing basis breakout over 24,460 in order to resume an upward climb. The market appears to be gaining traction at the moment...
Nifty50 index is fluctuating between 24,160 and 24,400, which is a very small range - Tradebulls Securities Pvt Ltd
Nifty
An ‘Inside Bar’ formation on the daily chart signals a possible bullish revival, contingent upon a mandatory close above 24,440 to activate its upward potential. With trend strength indicators aligned with price action, there’s no indication of a diverging trend, supporting the probability of a bullish move. Options data for the final week of October expiry reveals an expanding range, with 24,500 acting as a robust resistance and a reinforced support at 24,000, esta...
Options data for the final week of October expiry reveals an expanding range, with 24,500 acting as a robust resistance and a reinforced support at 24,000, established yesterday - Tradebulls Securities Pvt Ltd
Nifty
The Nifty remains in a downward drift on its daily chart, with trend strength indicators closely mirroring the price movement and showing no signs of divergence. For the final week of the October expiry, options data points to a widening trading range, with resistance firmly established at 24,500 and support zones around 24,000 to 23,500. A low Open Interest Put-Call Ratio (OIPCR) signals caution, though it could hint at potential short-covering rally if the 24,100 level holds. Given...
Given the index`s recent correction from alltime highs, the demand zone between 24,500 and 24,000 may attract long-term investors - Tradebulls Securities Pvt Ltd
Nifty
The index has seen a further decline, breaking below the crucial 24,700 support, which invalidated the reversal pattern, and also dropped beneath the 24,500 level. If it sustains below this level, the index could be dragged further towards the next support zone near 24,160 for the week. This current area has multiple support zones, ranging between 24,500 till 24,160. The daily RSI is approaching the oversold zone, and the 60-minute RSI is showing positive divergence, reducing the con...
The daily RSI is approaching the oversold zone, and the 60-minute RSI is showing positive divergence - Tradebulls Securities Pvt Ltd
Nifty
The Nifty index started the week on a positive note but lost momentum, closing near its crucial support at 24,760. While the recent 'Bullish Harami' pattern remains intact, its bullish potential will only be confirmed if the index closes above 25,240 in the near term. A sustained close above 24,760 could signal the beginning of a recovery, with a short-covering rally triggered by a close above 24,860. Currently, the directional momentum indicators, with ADX at 33 and RSI at 3...
Long-term investors may find the demand zone between 25,000 and 24,500 attractive for building positions - Tradebulls Securities Pvt Ltd
Nifty
Nifty is consolidating near its 50 DEMA support of 25,040, oscillating within a tight band of 25,230-24,900. The recent Bullish Harami pattern’s effect will only unfold if the index closes above 25,140 on immediate basis. Staying above 24760 suggests early strength, while a RSI bullish crossover on the daily chart hints at potential for directional momentum. However, without confirmation, it's wise for momentum traders to hedge risk with a mix of long and short positions. A...
Nifty is consolidating near its 50 DEMA support of 25,040, oscillating within a tight band of 25,230-24,900 - Tradebulls Securities Pvt Ltd
Nifty
A "Bullish Harami" pattern near the 24,760-support zone, combined with technical indicators like the ADX and RSI, points toward a potential shift in market momentum, yet it remains unconfirmed. The fact that the index is holding above 25,000 is an early but important sign of strength, and the price-RSI divergence on the 60-minute chart adds to the case for a possible reversal. However, since confirmation is still lacking, your suggestion of maintaining a mix of long and sho...
A ``Bullish Harami`` pattern near the 24,760-support zone, combined with technical indicators like the ADX and RSI, points toward a potential shift in market momentum, yet it remains unconfirmed - Tradebulls Securities Pvt Ltd
Nifty
Early indications of strength are shown by the development of a "Bullish Harami" reversal candlestick pattern near the crucial 24,760 support zone. As anticipated, the 60-minute chart's positive divergence between PRICE and RSI has produced a robust, assured rally that has sent the index back above the 25,000 level. The larger bullish trend would resume with a firm closure over the 50 DEMA level of 25,050, paving the way for a possible short-term surge towards 25,400. W...
The larger bullish trend would resume with a firm closure over the 50 DEMA level of 25,050, paving the way for a possible short-term surge towards 25,400 - Tradebulls Securities Pvt Ltd
