Connect with us

Hi, what are you looking for?

Smart Success Strategy – Investing and Stock NewsSmart Success Strategy – Investing and Stock News

Economy

Nifty and German40 Indices: German40 crosses 18000.0 level

Nifty and German40 Indices: German40 crosses 18000.0 level

In the previous three days, the Nifty index was in a pullback to support at 21905.65.
This week has been very positive for the German 40 index. 

Nifty chart analysis

In the previous three days, the Nifty index was in a pullback to support at 21905.65. There, we stopped the decline and initiated a bullish consolidation back above the 22000.00 level.

We are also moving back above the EMA200 moving average, which gives us additional support. This led us to consolidate above the 22100.00 level today. The index is now in a good place to initiate a bullish consolidation and start a recovery.

Potential higher targets are 22300.00 and 22400.00 levels. We could have a smaller resistance in the EMA50 in the zone around the 22350.00 level. We need a pullback and a fall in the Nifty index below EMA200 for a bearish option to support 21900.00.

New pressure on this support could influence it to hold, and the index could slide to a new weekly low. Potential lower targets are 21800.00 and 21700.00 levels.

German40 index chart analysis

This week has been very positive for the German40 index. In the previous hour, we saw a rise to a new all-time high at 18038.7. On Tuesday evening, the index broke through the limit of 18000.0 for the first time. Yesterday, we watched a slight pullback to the 17930.0 level. There, I got new support, and with the EMA50 moving average, we continued the growth to today’s high.

Potential higher targets are 18050.0 and 18075.0 levels. For a bearish option, we need a pullback below the 180000.0 level. After that we look at the daily open price at 17968.0 level.

Moving below, we descend to the bearish side and turn to a previous low at the 17930.0 level. Falling below this level, we form a new daily low, confirming that the index is under pressure and that we will see a pullback. Potential lower targets are 17925.0 and 17900.0 levels.

 

The post Nifty and German40 Indices: German40 crosses 18000.0 level appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Latest News, And Articles.



    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    The energy revolution is here to stay, and electric vehicles (EVs) have become part of the mainstream narrative. Despite geopolitical tensions and uncertainty, the...

    Editor's Pick

    Overview Mexico’s Sinaloa state hosts a number of prolific silver and gold mines, including McEwen Mining’s (TSX:MUX) El Gallo Complex, Americas Gold and Silver’s...

    Editor's Pick

    Uranium is an important energy sector commodity, and its rising value has attracted investor interest. 2023 has seen uranium prices solidly above the important...

    Investing

    A new survey shows that the presidential race between former President Donald Trump and President Biden is thin, but Biden faces a deficit in...

    Disclaimer: smartsuccessstrategy.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 smartsuccessstrategy.com