NIFTY FOR TOMORROW - 28th December 2021

 

On 27th December 2021 nifty 50 index opening 16937.75 and closed at 17086.25 the high is 17112.05 and low is 16833.20. The Candle is closing closing 8 EMA

27th December 2021 post market analysis:

Yesterday nifty closed at 17033.75 and today opened at 16937.75 gapdown of almost 96 points with this  gap actually opened between PDL/S1 and narrow CPR so trend should be sideways but good buying volumes in futures pushed nifty to highs of 17112.05 Nifty took support at PDH/S1 and moved up as said on 27th December market moved up

Weekly nifty trend - After last week's support at 34 EMA good start for the week but still nifty weely chart show it closed below 8 EMA

Daily nifty trend - Sideways Trend Closed above 8 EMA

Hourly nifty trend - uptrend closed above 8 EMA (far away from 8 EMA)

Following are the important levels that I have found to be relevant for tomorrows trading setup;

levels 17187.80 is an important resistance and 16908.95 is an important support

Based on analysis tomorrow will be side ways

Nifty closing: 17086.25

If market opens with a small gap up of 30 - 40 points the nifty will tag 17032.60 and if nifty sustains above 17032.60 for 15 mins then all chances to tag 17062 still watch before taking trade 30 points

If market opens with a small gap down of 30 - 40 points easy index may retest and may go up 

If market opens Gap Up: If big gap up  index is having all the chance to to up

In case of big gap down and index sustains below 16908.95 for more than 15 mins then market will go down

28th December 2021 can also see a side ways day please hold for 1 hour before taking any trade

I am not a SEBI advisor this advice is not for trading its only my view and for you its only information for educational purposes only.