x
Breaking News
0

Nifty Got Resisted At All Time High; Sees Profit Booking

By Vivek BajajMarket OverviewSep 13, 2017 17:36
in.investing.com/analysis/nifty-got-resisted-at-all-time-high-sees-profit-booking-200197472
Nifty Got Resisted At All Time High; Sees Profit Booking
By Vivek Bajaj   |  Sep 13, 2017 17:36
Saved. See Saved Items.
This article has already been saved in your Saved Items
 


Nifty close 10079.3: Nifty opened flat and sees profit booking near its life time high (at approx. 10138). As mentioned in last day’s report that previous high may act as a resistance in the short term and Nifty was unable to breach that level in today’s session.

Hourly Technical:
In the Hourly chart, Nifty consolidated near its lifetime high and saw some correction in the second half. The probable support in the hourly chart comes at 34 Hourly moving average (presently at approx. 10020.8).

On the upside, Nifty may face resistance at upper Bollinger line (presently at approx. 10140.8).

Hourly CCI, RSI, Stochastic have entered the normal zone from the overbought zone. Moreover, ADX has also turned down indicating loss of momentum. Overall Nifty remains Bullish to neutral in Hourly timeframe.

Nifty Hourly Chart
Nifty Hourly Chart

Figure: Nifty Hourly Chart

Daily Technical:
Nifty may likely to consolidate in 10000-10100 range for sometime before it will resume its next leg of up move. Today’s correction at the top was very likely but however the underlying strength is still intact.

The probable support in the Daily chart comes at 5 Day High EMA (presently at approx. 10056.7) and 5 DMA (presently at approx.10008.6).

On the upside, Nifty may face resistance at all time high (at approx 10138).
Daily Stochastic and CCI are in overbought zone and RSI is close to the upper bound of the normal zone. Daily ADX has finally turned up thus indicating gain in momentum, but this strength will increase once it goes above 20 levels. Overall Nifty remains Bullish in Daily timeframe.

Nifty Daily Chart
Nifty Daily Chart

Figure: Nifty Daily Chart

Nifty Tech Table
Nifty Tech Table

Figure: Nifty Tech Table

You can also view the Original Report here.


Disclaimer:

Elearnmarkets wants to inform you that this post/video is solely for educational purpose. We are not advising any trading or investment ideas. We want to add that the data/indicator/signals contained in this website/post/video are not necessarily real-time nor accurate. All CFDs/traded instruments (stocks, indexes, futures, commodities) and Forex prices are not provided by exchanges but rather by web based charting platforms, and so prices/indicators may not be accurate and may differ from the actual market prices, meaning prices are indicative and not appropriate for trading or investing purposes. Therefore, Elearnmarkets doesn`t bear any responsibility for any trading losses you might incur as a result of using this data/ indicators/charting platform. This analysis is purely based on the technical observations and not meant for investing with real money. Elearnmarkets does not have any position in the market. One can create position in market at his/her own risk.

Elearnmarkets or anyone involved with Elearnmarkets will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals/discussions contained within this website/post. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Nifty Got Resisted At All Time High; Sees Profit Booking
 

Related Articles

Nifty Got Resisted At All Time High; Sees Profit Booking

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

 
Are you sure you want to delete this chart?
 
Write your thoughts here
 
Replace the attached chart with a new chart ?
Post
Post also to:
1000
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
 
Replace the attached chart with a new chart ?
Post 1000
Please wait a minute before you try to comment again.
 
 
 
Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Add Chart to Comment
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email