Nifty at Crucial Support! Bank Nifty & Crude Oil Analysis | Weekly Market Update I Vishal Malkan

Malkansview • 6 days ago

Original source

What This Video Is About

This video provides a weekly market update, analyzing charts and discussing potential market movements. The speaker, Vishal, examines the Nifty, Bank Nifty, and crude oil charts, highlighting warning signals and key dates to watch.

Major Ideas Discussed

  • The Nifty chart is trying to touch its previous bottom, with a bearish engulfing pattern on the weekly chart that requires confirmation to be valid.
  • The daily chart shows support near 40 and a potential double bottom formation that could stop the current downtrend.
  • The market has been bearish, but the bigger picture suggests it has not made a new bottom since September and October, potentially leading to a higher bottom.
  • The ADX has been falling since October, and if the market falls for another two to four days, it might start rising again, signaling danger.
  • The Bank Nifty is in a neutral zone on the monthly chart, with support at 40 on the weekly chart and a potential range shift on the daily chart.
  • Crude oil is making a strong trend, with the ADX rising on the daily chart, which could be a problem if it crosses 115-117.
  • Time cycles analysis suggests the market has made bottoms around September 30th and October 1st for the last three to four years, with October 28th being a significant date for market crashes and tops.

What to Watch Next

The speaker advises keeping an eye on the dollar, crude oil, Nifty, and Bank Nifty, and studying historical data for October 28th to understand its significance in the market.