Nifty another ATH?

20 ก.ย.

Good Morning Everyone!
20 Sept. 2024, Friday

When I said NIfty is in 2d phase, no once believed and few also booked their profits at just 24000 in fear of their will be a big correction.

Corrections came and gone. They are still sittng on the cash hoping they will get a chance to buy low. And we have been enjoying Swings profit everyday, constantly.

When social media was full ofso called "major crash coming", I clearly told you guys here that levels 26000-28000 is now open.

Cheers to those who believed in my analysis and have been enjoying prtofits on daily basis!🍾

Now let's come to the market.

NIFTY was cruel yesterday after the Fed Rate Cut decision when everyone was hoping for a blast. Well, this is market for you - "Market will never do what you want it to do. It will only do what it has to do."

But afraid not. Any market will give a little selling before another run so that it can have proper liquidity. So nothing to fear about.

However, do play with the levels if you are new in the market. And DO NOT CHASE any Breakout, Gap-ups.

Wait for a little dip to your support area and then let the buying resume, and then you enter with strict SL.

Support for Nifty is 25333. Resistance is at 25660. A major move is expected after this level breaks.

For BANKNIFTY 52800 is now a crucial support is the bulls has to keep moving. Below this 52477 is another support. On the upside 53357 is the major hurdle we need to over come to see an All-Time-High in Banknifty.

CNXFINANCE is showing some weakness on technical chart after hitting fresh ATH. Support is at 24046.

Keep Textile, Sugar, FMCG sectors on radar.

That will be all for the day. Have a profitable day ahead.