Nifty Trend On Monday Analysis to Get an Undue Advantage For Your Trading Day.
BTW, I recently blogged about an extensive How to read Technical Stock Chart for Beginners. If you’ven’t got a peek at it.
Nifty Trend For Monday is the first thing I’ll usually I’ll look at on weekends. Nifty Trend Next Week is an amalgamation of lots of factors of trade.
In my career of 15+ years as a trader, I’ve learned that Nifty Trend On Monday is mostly influenced by these factors:
- Global Markets
- Supports and Resistances
- Nifty Trend
- Technical Analysis Levels
So without further ado, let’s jump to analyze nifty trend for next week.
What are the Topics Covered in Nifty Trend For Monday?
Nifty Trend Analysis:
- Nifty Trend is Absolutely positive given its new highs in today’s session.
- 15436 is the all-time closing high for the Nifty.
- Given the break of old highs, nifty may either see a big resistance or move hugely bullish.
- Usually, all-time highs make a big impact on the trend of Nifty.
Global Markets Data:
- Dow Jones is up 133 points or 0.39% on Friday 28th May 2021.
- SGX Nifty has closed 170 points in Green around 15550 levels.
- Hangseng closed positively.
- Nikkei closed 2.1% or 600+ points higher.
Looking at the Global market data we have a clear bull unleashed for Nifty Trend On Monday.
Technical Analysis Levels:
- Nifty has crossed the Fibonacci retracement highest level of hundred percent on the chart.
- Crossing the Fibonacci retracement means it will use this 100% level as support.
- 10 Day EMA is well above the 13 day Ema, which means that trend is is usually positive.
- Fast stochastic is at 96.13 level (overbought zone), meaning I see Nifty is poised to dropdown.
- Slow stochastic is at 95.9 zero again in the overbought zone indicating a negative move.
- MACD is hugely positive showcasing a positive move.
- It has huge support at 15330, hence the downward movement is paused to an extent.
- Nifty is making higher highs, which shows a growing positivity.
- Since Nifty came out of the rounding bottom pattern, we may see huge up moves.
With the technical analysis data, Nifty Trend For Next Week, is supposed to be a positive move upwards.
Supports and Resistance for Next Week:
- We literally have lots of Support, but hardly any resistance.
- You may ask why is S3 and S4 not shown. However, 10 Day EMA and 13 Day EMA are very good supports. They constitute S3, S4.
- Supports – 15370, 15321, 15257, 15175, 15108, 15060.
- Resistances: 15469.
- We can say 15469 is resistance only because, NIFTY top at that level today.
- Else we will hardly have any resistance for Nifty.
With the help of support and resistance, we may say that the Nifty trend for next week is poised to be a huge positive.
Nifty Trend On Monday Conclusion:
- Nifty Trend Analysis is giving a huge thumbs up.
- Global Markets Data are hugely positive.
- Technical Analysis Levels are also showing no signs of weakness.
- Supports and Resistance for Next Week show there is literally no resistance to the Nifty Trend For Next Week.
- Unless we have a black swan event, Nifty Trend On Monday is Hugely Positive.
Hope you liked the way I analyzed Nifty Trend For Monday and found that all factors lead to positivity.
If you liked my post, please please do not forget to share it with those who may get benefitted from my analysis.
Having said that, Happy Trading and Happy Money Making!