15 Jan ’24 — Bullish reinforcements are on the way! Nifty50
Nifty Analysis - Stance Bullish ⬆️
Recap from yesterday: “Till yesterday, we were looking for neutral trades with a possibility of going down. See how the tables have turned today. For Monday — we need to look out for bullish opportunities now.”
4mts chart
Another gap-up of 131pts ~ 0.6% today! It was required to break the channel resistance line. There was a minor fall, but the 22000 level provided early support and we kept the gap unclosed. Once Nifty50 found its balance, it rallied steadily for the day and closed near the highs. The new ATH is 22111.
63mts chart
The break away from the channel is evident in the 63mts chart. See the points Nifty is climbing every time it gets a stance upgrade from neutral to bullish. Remember how things were looking weak on the 8th and 10th of Jan and how Nifty turned from there? For tomorrow, the bullish stance continues and the first support will be the ascending channel top-line ~ 22050 levels.
Recap from yesterday: “Till yesterday, we were looking for neutral trades with a possibility of going down. See how the tables have turned today. For Monday — we need to look out for bullish opportunities now.”
4mts chart
Another gap-up of 131pts ~ 0.6% today! It was required to break the channel resistance line. There was a minor fall, but the 22000 level provided early support and we kept the gap unclosed. Once Nifty50 found its balance, it rallied steadily for the day and closed near the highs. The new ATH is 22111.
63mts chart
The break away from the channel is evident in the 63mts chart. See the points Nifty is climbing every time it gets a stance upgrade from neutral to bullish. Remember how things were looking weak on the 8th and 10th of Jan and how Nifty turned from there? For tomorrow, the bullish stance continues and the first support will be the ascending channel top-line ~ 22050 levels.
