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Nifty Demystified in Multiple TF for August 11 2023 1) Weekly – Previous week candle has a bigger wick at the bottom indicating buying momentum at the lower levels This week candle seems to be an inside candle to the previous week candle. Need to wait for today's closing to conclude on this. 2) Daily indicates – 19450 to 19500 is a strong support area. There is a hammer at the Trendline followed by a confirmation candle of yesterday, can’t be ignored. For any further down move to continue on the positional basis, there must be a daily close less than 19530. Intraday analysis 1) 4H candles indicate wicks at the bottom at the Trendline supply zone indicating that sell orders are being absorbed at the supply levels at the same time there is buying at 19490-19530 region every time price hits there. 2) 30 Minutes indicate that, the selling is too strong till now, the size of the red candles is too big compared to the green ones and one red candle has covered a minimum of 2 green candles, the green candles formed in the last 30 mins are weak ones. 3) There has been an excellent price compression in the 15 minutes and 5 minutes time frame, so will wait for the price action to go long/short after 10 AM. Supply and Demand zones have been marked. Happy trading !
NSE:NIFTY
by Rugminik
Nifty50 Analysis and Trade Plan for August 09Supply and demand zones marked on yesterday's chart hold good for tomorrow as well. Black Line zones - Resistances R1 - 19617-19639 R2 - 19723-19795 R3 - 19805-19822 R4 - 19842-19876 Green line zones - Demand S1 - 19593-19574 S2 - 19555-19510 S3 - 19595-19462 S4 - 19350-19295 Analysis:- Same as yesterday, Nifty has not moved majorly from yesterday’s OHLC. Hence Requoting “Nifty is in the process of forming a retracement, Lower High for the Downtrend formed. But if it moves strongly above 19684-19733 which is the 78.6% to 88.6% retracement levels of the previous major swing, which also coincides with the Gap supply zone and out of the falling channel that has formed, then there are high probabilities that the market trend would change to an uptrend.” 19530 will act as an important support level, for 2 days, the market has been taking support at 19530. Trade Plan:- If the Market opens a gap up – 1) Will look to short the market based on setup confirmation till the Gap filling / Trendline support/R1 or till 19530 based on price action and run further as needed. 2) Can go long only after consolidation breakout , but too many sell zones above, so may not be keen on this trade unless Nifty crosses and sustains above 19876 zone. Will watch for major resistance zones marked above – R2,R3,R4. If the Market opens flat - Will wait for Price action, may be a rejection at R1/TL Resistance again till 19530 or below or could be a consolidation again till 19530 and then move up. 1) Possible short scalp from TL rejection till 19530 based on setup confirmation or could wait till 19530 breaks and then ride till next support level of 19460. 2) Will go long only post consolidation breakout of the smaller TL that has formed today but would be cautious at the major Trendline above and also the gap supply above it, will be keen on price sustainability above the major Trendline till the gap zone of 19738. If the Market opens a gap down - 1) Will look to short the market if any setup confirmation signal is obtained till the demand levels as marked based on where it opens either at S2/S3/S4 levels. Will be keen to short if there is a huge gap down at 19400 based on setup confirmation. If the price takes support, one may wait for consolidation up moves. 2) Will look to go long only if any setup exists post 75 minutes of consolidation/price sustainability at the higher levels from the Possible demand levels. Please check for Demand zones below 19200
NSE:NIFTY
by Rugminik
1
Baja Finance Intraday Trade Levels and AnalysisThe stock is reversing from demand zone after 4 days of consolidation in the same zone, also there is a double top breakdown in Daily time frame, and the stock is poised for a retest of the Double Top neckline area. 75 minutes shows Double bottom very evident with RSI divergence and RSI moving into 70+ strength zone, an up move of odd 7200-7400 levels is possible. Hence with the above levels, one can consider a long Intraday trade with an RR of min 1:1 or max even 1:2.
NSE:BAJFINANCELong
by Rugminik
3
Analysis for AUD/USD Read BelowBased on TA findings I am neutral on both bears and bulls as of now. With the EUR/USD major pumping up the ladder half of this week. Bringing major thoughts of question on whether the dollar is a stable as the FED claims. From all cross-references I am only finding bearish sentiment as of now on the daily and hourly chart timeframes. With a decent sized bearish engulfing candle formed on the daily side. I'm genuinely interested to see how things work out in the coming weeks. Will the bearish engulfing candle hang in there, or will the dollar become increasingly unstable and lead to a reversal in the near future? That is what I'm looking at as of now. This is very minimal analysis as of now, when I get me EMA's setup again ill do a follow up post when I started to see what price action does and if price movement can shift.
by TheR6
GBPCHF - 240 MINS TIME FRAME The Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart). Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves. we do not get into bullish or bearish traps. We anticipate and get into only big bullish or bearish moves (Impulsive Moves). Just ride the Bullish or Bearish Impulsive Move. Learn & Know the Complete Market Cycle. Buy Low and Sell High Concept. Buy at Cheaper Price and Sell at Expensive Price. Keep it simple, keep it Unique. please keep your comments useful & respectful. Thanks for your support.... Tradelikemee Academy
Long
by Tradelikemee
BankNifty Future Analysis for 3rd August 2023BankNifty Future Analysis for Today 3rd August 2023 As per our #analysis for #BankNiftyFuture, we are expecting these Intraday levels Tomorrow, kindly check the charts on 15 min time frame and act accordingly. #IntradayLevels Disclaimer: All the provided levels are for #educational purpose only, please do your own analysis before doing any trade in the live market or consult your #financial advisor before act. Follow Us For More #Updates in Future
NSE:BANKNIFTY1!
by MarkitVUE
Until the VIX breaks this level, it remains range-boundA quick look at our VIX chart shows us that we are range-bound since June. Exactly, as I expected and have stated numerous times in past posts. But now, with the U.S. credit rating downgrade, fear has spiked. Will we break this range and move up? We could, yes. But to do so, we need the VIX to move above that 15.94 level with confirmation. As of today, the VIX can still be technically classified as range-bound at all time 2-year lows. Of course, when the VIX remains low, the market will remain relatively positive. This is bullish. Stay tuned for further updates here. Stew
TVC:VIX
by stewdamus