Connect with us

Hi, what are you looking for?

Trading Secrets

Nifty and German 40 index: Nifty is back above 22500.0

Nifty and German 40 index: Nifty is back above 22500.0

The Nifty index price was on the verge of hitting a new all-time high this morning. This morning, the German 40 index rose to a new all-time high at 18541.6.

Nifty index chart analysis

The Nifty index price was on the verge of hitting a new all-time high this morning. We stopped at the 22516.00 level, and the check was followed by a pullback to support at the 22260.00 level. We got that support and recovered to 22343.00, where the market closed. Tomorrow we could expect to see a continuation to the bullish side and a possible conquest of a new high.

Potential higher targets are 22500.00 and 22600.00 levels. Nifty would have to pull back to 22200.00 levels for a bearish option. This is where we come across the EMA50 moving average.

Even better support is slightly below to 22100.00, the EMA200 moving average. If we lose that support as well, then the Nifty will be in a bigger problem, which would reflect badly on the value of the index. Potential lower targets are 22000.00 and 21900.00 levels.

German 40 index chart analysis

This morning, the German 40 index rose to a new all-time high at 18541.6. After that, in the Asian session, we saw a pullback that continued in the EU session to a new daily low at 18473.0 level. If pressure on the index continues, we remain under pressure to pull back to a new low. Potential lower targets are 18450.0 and 18425.0 levels.

Additional possible support for German 40 is the EMA50 moving average in the zone around 18440.0 levels. If we were to return above the 18525.0 level, we could test the daily open price. Above it, we move to the positive side, and after that, we can expect a continuation to the bullish side. Potential higher targets are 18550.0 and 18575.0 levels.

The post Nifty and German 40 index: Nifty is back above 22500.0 appeared first on FinanceBrokerage.

Enter your email address below and we’ll send you our best practices.

    You can unsubscribe at any time. Redstatefoundation respects your privacy and strives to be transparent about our data collection practices. Please read our Privacy Policy and Terms of Use.

    You May Also Like

    Trading Life

    Laura Wong Hon Chan is an interest rate options trader, who is currently a director at Bank of America Merrill Lynch in New York....

    Trading Secrets

    In this episode of StockCharts TV‘s The MEM Edge, Mary Ellen reviews what’s driving the markets higher and what to be on the lookout...

    Trading Secrets

    SPX Monitoring Purposes: Long SPX on 10/10/22 at 3612.39; sold 12/13/22 at 3669.91 = gain 1.59%. Monitoring Purposes GOLD: Long GDX on 10/9/20 at...

    Trading Secrets

    I don’t like it when parts of a puzzle don’t match. You just don’t get a clear picture. As participants in the markets, we...