Nifty Analysis: How much more pain left? Where is the bottom?
Nifty Analysis:
1) Today's low 23816 is very important level to watch.
2) Next support at 23502 (Father Line or 200 days EMA).
3) Final Major support near 23201(Trend line meeting point and 50 weeks EMA (Major Mother Line).
4) Closing below 23201 has potential to break the hell loose.
5) Resistance on the upside at 24145, 24320, 24506 and 24781 (50 days EMA-Mother Line).
6) Bulls can take control only after we get a closing above 24781.
To know more about stop losses, trailing stop losses, Profit booking and investment, financial awareness in general, process of investment in Equity or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Many People who have read it consider it as hand book and perfect guide to equity investment. You can read reviews of the book or purchase the same from Amazon. The book is available on Amazon in Kindle and paperback version. I am sure you are going to find it of massive use. Once you have read the book, I assure you that you will become a next level investor.
Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
1) Today's low 23816 is very important level to watch.
2) Next support at 23502 (Father Line or 200 days EMA).
3) Final Major support near 23201(Trend line meeting point and 50 weeks EMA (Major Mother Line).
4) Closing below 23201 has potential to break the hell loose.
5) Resistance on the upside at 24145, 24320, 24506 and 24781 (50 days EMA-Mother Line).
6) Bulls can take control only after we get a closing above 24781.
To know more about stop losses, trailing stop losses, Profit booking and investment, financial awareness in general, process of investment in Equity or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Many People who have read it consider it as hand book and perfect guide to equity investment. You can read reviews of the book or purchase the same from Amazon. The book is available on Amazon in Kindle and paperback version. I am sure you are going to find it of massive use. Once you have read the book, I assure you that you will become a next level investor.
Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
Note
Market Outlook:
As predicted 23816 to 23850 zone proved to be a strong support as the Nifty recovered 387 points from day's low which is a remarkable comeback. No change in Support or resistance outlook for tomorrow. Only shadow of the candle changes to positive.
Happy Candles Investment
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