MoneyNaad

Today Nifty opened 270+ points Gap down and traded with down bias. I mentioned in the last post "The hourly chart shows support at 8450-8250" , it reversed from 8244 and closed at 8281. The daily chart shows the possibility of the further down move as day close is near day's low and day candle strong bearish. Any gap up may bring selling pressure and a break of 8250 can lead to 8000-7750. Nifty may face resistance at 8450-8600 zone.

As I mentioned in the last post " Nifty may face strong resistance in 8900-9000 zone" , Nifty reversed from 9040 and closed at 8660. That's 380 points move from the top. This was classical "Buy on Rumors and Sell on News". The market was expecting Govt stimulus and RBI rate cut. Now, this is done, we may see further correction in the following days and Nifty may go towards 6800-6300 where a bottom likely get formed. In case it moves on the upside then above 9100 it may face stiff resistance at 9400/9410 The hourly chart shows support at 8450-8250 zone.

Nifty moved up 400+ points today. The up move seem to be due to short covering that was due and also the hope of stimulus from Govt. Nifty formed Doji on the Daily chart on 24 Mar and today followed with the good up move. Daily RSI is showing bullish divergence, so upside correction/consolidation is very likely. The market is Sell on the rise and any up move will be used to create more shorts. Nifty may face strong resistance in 8900-9000 zone.

Banknifty fell almost 15000 points from the top it made in Jan'2020. It looks like it will touch 13500/13400 level in the coming days.

Nifty is falling very fast and it is quite difficult to predict the bottom. So don't try to catch the bottom. It looks like it will definitely come to level of 6825/6800, low made in Feb'2016 from where it started its big up move.

Cadila Healthcare #Cadilahc is looking very Bullish on charts. A double bottom pattern and sharp reversal indicating further up move towards 340/370/400.

ITC sharp up move was due to reversal from exact Monthly angle and an exact reversal from Weekly 1/1 angle. This bounce may be short term and not a trend reversal.

DAX Index Analysis For upto Feb 29, 2020 : Daily chart shows prices are at Strong resistance zone at upper trend line (red color). On Friday (Feb 14, 2020) it formed a Doji candle that is a sign of reversal as it formed at top and at resistance zone. So correction or reversal from this level is very likely. If prices cross above 13950 and sustains above then Breakout on upside is possible.   But this looks very unlikely for at least few days as RSI indicator is also at resistance. At present it is in no trade zone. Best scenario is to wait for price to break 13600. Trade opportunities: Long Trade:   Above 13950 for target of 14300. Short Trade: Below 13600 for target of 13450/13400 and below 13400 for target of 13100/13000 DAX Analysis for Swing Trade on Weekly Charts: Weekly chart shows price is at multiple channels and trend lines resistance. Trade opportunities: For few weeks or months holding Long Trade:   Above 13950 for target of 14300/14800 and brea