NIFTY’s Downward Spiral: Will 23,500-23,600 Halt the Fall?

NIFTY gets a lower low below 23,816, which is on very much expected lines. Yesterday’s close literally confirmed a fresh lower low. This fresh breakdown makes way for a test of the significant support zone of 23,500-23,600 on NIFTY spot going forward. The setup should get really interesting once NIFTY gets closer to 23,600.”

Despite the market’s weakness, a sharp, sustained downturn is unlikely. The current market conditions differ significantly from those in early October. Therefore, a nuanced approach is necessary to capitalize on potential opportunities.”

Now reed it very carefully.”

A rebound from the 23,500-23,600 support zone remains a plausible scenario. However, if this level is breached, the ultimate support lies at 23,000, a critical 45-degree angle support line from the September high of 26,277. Historically, such strong support levels often trigger significant price reactions.”

Stay tuned for further developments as the market navigates these crucial levels.”

Is DABUR Headed for a Multi-Year Low? Technical Analysis Suggests So

DABUR has been consolidating over the past few days.
That consolidation broke to the downside today.
We have a pattern support here at 523; a break below this level could generate a move towards 506 and 491 in the next few days.”

A sustained trade below 523 should put prices under significant pressure, potentially breaking its multi-year low of 480 going forward.”

Important Dates: Keep an eye on 12th and 21st November as these dates could be significant for potential trend reversals or continuations.

NIFTY Market Update: Critical Support Levels Fail, Downside Risk Elevated

For NIFTY, the 8th and 11th of November were major cycle dates. As discussed earlier, both these dates were significant for the near-term trend. Holding above the intraday lows of both these dates, we can expect a flattish kind of trade for this week. Only a daily close below both these dates’ lows would trigger a fresh leg of sharp decline.”

On the price front, 24,100 was a critical support. A break of that has eliminated the possibility of a bottom formation at 23,816. So, further lower lows are certainly due. At best, we can get a higher high above 24,537, but that too won’t signal a broader trend shift.”

Infy at a Crossroads: Resistance Test Could Trigger Significant Downside

Infy is nearing a very strong resistance zone of 1860 to 1900 on the cash market. If the stock sustains below this zone, a great short trade opportunity may arise. Holding below this zone, the stock could test levels of 1760 and 1680 on the downside in the next few days.”

Key dates to watch out for are November 20th and 21st, as they mark significant cycle turning points.”

NIFTY’s Rebound Falters: 24,510 Resists

Yesterday, NIFTY tested the 24,510 resistance level but was unable to sustain the momentum. As long as the index remains below this level, it suggests that the recent rebound may have peaked.” On downside The 24,100 level is a crucial support level. If this level is breached, a retest of the 23,800 and 23,600 levels could be on the cards in the coming days.” Given the current market conditions, high volatility is expected. It’s advisable to exercise caution in your trading decisions.”

NIFTY Recovers, US Markets Post-Election Outlook

NIFTY is experiencing the anticipated rebound, which began on Monday. This upward momentum is likely to persist for a few more days, provided the spot price remains above the 23,800-24,000 range. Resistance levels are at 24,510 and 24,800.”

Significant cycle dates for NIFTY are due on November 8th and 11th. Expect a strong price reaction around these dates.

Once this rebound ends we would expect further lower lows on NIFTY and overall market.”

U.S. Markets: A Post-Election Outlook.”

Regardless of current futures trends, we still anticipate lower lows for the S&P 500 once the election euphoria subsides and the FOMC meeting concludes. The next major cycle dates for U.S. markets are November 11th and 14th.”

What may seem insignificant now could make a lot of sense in next few weeks.”

Titan’s Last Stand: Can the Stock Survive Today’s Test?

Titan’s results are due today. This is a crucial day for the stock, as it could significantly impact its price movement. The stock is currently trading near a critical support level between 3150 and 3180. This suggests that the stock may be oversold and could be due for a rebound. If the stock can hold this support level, it may attempt to rally towards the 3350-3400 zone. However, a break below 3150 would be a strong bearish signal. This could lead to a sharp decline towards the 3070 and 3000 levels in the next few days. The next significant time cycle date is November 18th. This date could mark a potential turning point for the stock, so it’s worth keeping an eye on.”

NIFTY Dips Below 23,900: Short-Term Outlook

NIFTY achieved our 2nd target of 23900 today. NIFTY’s decisive break below 23,900, as anticipated since mid-October, marks a significant turning point. Traders who’ve been short since late September should consider securing profits. While the current downward momentum is strong, a temporary pause at the 23,600 level is possible. A close above this level could trigger a deeper rebound. However, if 23,600 fails to hold, a decline towards 23,000 seems likely. Key dates for NIFTY’s next major cycle are November 8th and 11th.”