NIFTY ANALYSIS FOR UPCOMING AUGUST DECEMBER 2021 -
NIFTY ANALYSED CHARTS FOR THE 2021 YEAR -
Nifty Analysis was done on 8th November -
1) The chart was analysed on 8th November 2020.
2) The NIFTY had closed @ 12263 levels.
3) NIFTY was created as a bullish channel technically.
4) As Technical analysis NIFTY 13777 levels played a very important role in 2021 Feb Budget month.
5) As Technical analysis above 13777 levels, NIFTY tested successfully 15555 levels.
6) 15555 levels will be very important levels for downside corrections.
7) The post-2021 budget rally started from 13777 levels.
8) Now presently we are nearby 3000 points from the post-2021 Budget rally.
9) The above NIFTY chart was analysed for the whole of the 2021 year.
10) All resistance levels were tested successfully as per the analysis.
11) Only now 16666 & 17171 upper resistance levels are pending.
12) Once if NIFTY closes above 16666 levels, then it will have strong potential to reach & test 17171 levels on the upside.
13) Now NIFTY has made a top with new ATH @ 16347 Levels. Will this be top must wait & watch.
14) The NIFTY has rallied from the 2020 pandemic year till now nearly 9000 points. Which is a nearly 120% recovery from the bottom made.
15) Now upcoming NIFTY moves are explained with Technical Analysis Chart below.
NIFTY UPCOMING ANALYSIS AUGUST - DECEMBER 2021 -
1) The CMP closing is @ 16238 levels.
2) In the present market scenario good news has become bad news & bad news has become good news. As of market rallied fast upside on Covid 2nd wave.
3) And many bad events have also become NON-events in the markets.
4) NIFTY had a strong resistance @ 15900 levels. The short-selling was seen many times @ At this level.
5) NIFTY further short term bullish will be closing above 16347 levels Technically.
6) NIFTY above 16347 levels will test 16666 levels.
7) NIFTY will only move upside if closes above 16666 levels.
8) NIFTY above 16666 levels will have more potential to move till 17171 levels.
9) Technically NIFTY will be bullish, & all are on buying side in the present scenario.
10) If everyone is a buyer then who are the sellers in the market.
11) The market trapped every short @ 15900 levels & made a short-covering euphoria move on the upside & will be holding a 16000 level.
12) NIFTY 16061 - 16100 levels will act as strong support for some days.
13) NIFTY 15914 levels is trapping zone.
14) NIFTY had euphoria moves from 15914 levels.
15) The 15914 levels will not be broken crying in the market.
16) In a single day 15914 levels must be broken with a big red candle on the downside.
17) The day when 15914 levels are broken in a single red candle, we might see a bearishness in the NIFTY.
18) NIFTY closing below 15914 levels will test 15555 levels.
19) NIFTY closing below 15555 levels will test & halt for some days near 15051 levels.
20) Any bearish candle if forms near 15051 levels, the NIFTY will drag directly downside till 14444 levels & Below 14444 we are having a good support 14041 levels. If the market halts between 14041 - 14444 levels, then the market will be to 15% complete correction downside.
21) A closing below 14041 levels will take NIFTY back to Madam Nirmala Sitaraman candle low 13777 levels or 13331 levels. Which resembles a complete 20% correction on the downside.
22) A closing below 13331 levels will surely lead the market to a 25% correction on the downside. That is 12303 - 12500 levels.
23) Now we must just wait with patience & watch who will be sellers in the market to get the market down. Because Fiis we're selling @ lower levels & now started buying @ higher levels.
In the present market scenario Diis we're buying @ lower levels & Now they are selling @ higher levels.
As off Diis are not satisfied with higher levels.
Fiis always take the index upside & start their selling.
The only heavy selling can be found on the global market sentiments. Or any strong overnight events which can hurt the markets.
16347 levels is a top for a downside correction, if we calculate a 25% correction from the current ATH we get the levels 12300 levels on the downside.
If markets move above 16347 levels, then markets may see the only correction of 15% on the downside.
Just we must wait and watch what the market trends make in the upcoming future.
24) The NIFTY has raised from 15513 - 16347 levels in just small trading sessions, But the only sector-wise stocks have risen. Mid-cap & small-cap stocks have been mute for these NIFTY upper levels.
25) NIFTY, if corrects or rises, does not matter till the end of 2021. The only sectoral wise stocks rotation movement has been started.
26) Always good to analyse the sectoral wise rotation stocks to select in the portfolio to hold if some correction arises.
27) My views on NIFTY below 15914 levels we can see a bearishness.
Will the NIFTY correction be 15% or 25% on the downside must need to watch.
According to my analysis & views, we will face 10 - 15 days of continuous red flags in the market. But when & how, we must have patience & stay with the market & trade as per the trend & follow the trend.
"TREND IS ALWAYS OUR FRIEND IN THE MARKET"
