NIFTY 50Nifty 50 is currently trading at a major support area. Here are some support and resistance levels if you are interested in trading Nifty 50.
Nifty50
Nifty Finnifty bank Nifty Tuesday 14 May 2024 Nifty Finnifty bank Nifty Tuesday 14 May 2024
the trend in nifty is sideways to negative but if price is going to trade above 22400 more power to the Nifty will come and short term trend is going to change . Nifty showed recovery from important train line in past where price has taken demand or support many times and same thing happened today with a bullish engulfing candlestick pattern
for Bank Nifty and free Nifty both indices how taken good and ample amount of support from rising train line with a good double candlestick bullish signal indicating and if the price is going to sustain above today's low for prudence a solid up move is to be getting expected
this post is for educational purpose trading recommendation or NO trading advice
Trend change from not bearish to bearish in Nifty?I was not bearish in Nifty until Friday but the market has not failed to surprise me yet again.
Important support (100 SMA) at 22000 was broken with conviction and India VIX is flying through the roof. These both points make me rethink my bullish thoughts I had and now I would either stay away from the market or wait for the right levels and sell on the rise but better option is to stay away from the market for a while and let the dust settle.
#Educational purpose only
NIFTY INTRADAY LEVELS FOR 13/05/2024BUY ABOVE - 22070
SL - 22020
TARGETS - 22120,22180,22240
SELL BELOW - 22020
SL - 22070
TARGETS - 21960,21900,21850
NO TRADE ZONE - 22020 to 22070
Previous Day High - 22120
Previous Day Low - 21960
Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day.
Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move.
Please NOTE: this levels are for intraday trading only.
Disclaimer - All information on this page is for educational purposes only,
we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made.
Request your support and engagement by liking and commenting & follow to provide encouragement
HAPPY TRADING 👍
Nifty trying to bounce after bottom formation. Nifty is trying to bounce after bottom formation. The bull rally can commence and the bounce can sustain only if the level of 21938 is held and we get a closing above 22070. In the case of up move after 22070 is crossed and held the resistances for future will be 22129 and 22188. Post closing above 22188 50 and 200 Hours EMA (Mother and Father line) 22236 and 22339 will be the next major resistance levels. Bulls can breath easily only after we get a closing above 22339. In this case the future target will be 22502. In case we get a closing below 21938 in the coming week the next support level will be at 21769. (Right now charts do not suggest that we can get a closing in Nifty below this point but in case we get a closing below 21769, bears will play major havoc and can drag Nifty even to sub 21K levels.) However this does not look probable right now as shadow of the candles look positive (Green) but you can never say never. Bulls have potential to fight back above 22070 levels and specially can take centre stage if we get a closing later this week or the next above 22339.
Can Channel Bottom Support save Nifty?As you can see Nifty is resting very timidly at the bottom of the channel after confirmation of H&S Break down. Most of the indices were thrashed like bowlers are thrashed in IPL matches this season. If Nifty has to recover it has to be done in next couple of sessions that is Friday or Monday. If the current support around 21900 is broken the next supports are only at 21769, 21543 and finally 20991. Below these levels more pain will be there in the system and Bears will become even more powerful. Resistances on the upper side now are at 22096, 22231 (Mother Line Support) (50 EMA), 22311 and 22502. Shadow of the candle is looking negative but bears will try to give a fight for sure if not tomorrow very soon.
SENSEX and Bank Nifty Setups Friday 10 may 2024 SENSEX and Bank Nifty Setups Friday 10 may 2024 The trend in Indian markets are going in the downtrend but as of now Nifty especially Sensex near there rising channel higher low area values zone. seems Friday may 10th 2024 levels in Sensex and Nifty 50 would be challenging because Indian bricks is rising and if some cool of is going to happen in tomorrow's early 2 hours of training session of Friday then possibly a small nude short covering rally will be available in both of indices
Nifty Bank is much away from its rising train line at support or demand line
and the final area where smart buyers are pending orders placed are waiting to be getting executed the zone of 47000 46600
these are level to watch on Friday session
Nifty 50 within the Channel. Trend Analysis for short term TradeNifty 50 is currently trading within a Channel. This analysis suggests a short-term or swing trade approach. As the market is currently trending downward, consider using Trend Continuation technic and Fibonacci Retracement for your trading strategy.
Dangerous H&S Pattern forming on Nifty.(Pending confirmation)A Dangerous Head & Shoulders Pattern is forming on Nifty charts.(Pending confirmation) If we get a confirmation candle tomorrow or if the support zones of 22240 to 22186 are broken and if we get a closing below 22186 there will be confirmation for the same. If we get a confirmation of Head and shoulders pattern bears will have potential to drag Nifty further down to 21962, 21769, 21543, 21142 or even 20968 levels in a short to medium term. In that case I will consider it a buying opportunity only. Things will start to become sour only if we get a monthly closing below 20968 levels. On the brighter side today Nifty has taken a support at 50 days EMA. (Mother line). In case bulls are able to take control from here on the levels on the upper side will be at 22488, 22592, 22691 and finally 22800 levels. If Bulls have to fight back it has to be in next 2 or 3 days. Shadow of the candles is neutral right now.
NIFTY INTRADAY LEVELS FOR 09/05/2024BUY ABOVE - 22350
SL - 22300
TARGETS - 22420,22470,22510
SELL BELOW - 22240
SL - 22300
TARGETS - 22200,22160,22100
NO TRADE ZONE - 22240 to 22350
Previous Day High - 22350
Previous Day Low - 22200
Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day.
Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move.
Please NOTE: this levels are for intraday trading only.
Disclaimer - All information on this page is for educational purposes only,
we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made.
Request your support and engagement by liking and commenting & follow to provide encouragement
HAPPY TRADING 👍
NIFTY50 POTENTIAL BREAKOUT ON THE STRUCTURENIFTY50 is currently within a robust bullish channel, displaying consistent growth since the emergence of bullish sentiment. Price has adhered to the previous high established on the daily timeframe. We anticipate potential price action to remain within the upper and lower boundaries for a period. Upon future confirmation of a breakout at the lower boundary, a bearish trend with significant momentum could be witnessed.
HUL: Long position mid term (35% returns)HUL has give a strong breakout today (with heavy volume) against its trendline (blue). The price has been in a downtrend since July 2023 forming a rounding bottom pattern with neckline at 2700 and bottom at 2200. The target based on the pattern is 3200 (Upside of 35%) .
Fundamentally, the company is strong and has grown consistently. The P/E valuation and EV/EBITDA are at multiyear low. The stock has been under time correction mode for the last 3 years. The inflation is expected to come down in the coming quarters which will help revive the sales and boost the earnings going forward. The rural demand has picked up as well. All the drivers should set the stock rallying to new ATHs.
Targets:
1) 2450-2500 (range)
2) 2650-2700 (range)
3) 3200
Risks: Given the Nifty has been under selling pressure, there's a risk of this breakout to not push all the way to the targets creating another round of sideways price action.
Even after the dramatic fall on Friday Nifty looking strong.Even after the fall due to Profit booking and fear in investors due to Fed rate pause Nifty is not looking weak. Seemingly it has taken 200 Hours EMA support in late trading hours of Friday at 22388 after falling below it just for a while. If 22388 is not broken in the coming week the targets/resistances on the upper side will be at 22535 (Major resistance) (best way to avoid it will be to open gap up above it.), 22691, 22799, 22873, 22973 and 23039. Channel top seems to be around 23155. If the support at 22388 is broken and we get a closing below it, the supports will be at 22348, 22186 and finally channel bottom support near 21962 (in very unlikely event). The shadow of the candles is positive right now but there will be profit booking effort at every rise. Bears will try to fight the bulls who were taken by surprise by the bear attack on Friday.
Nifty Intraday Levels: 07-May-24Price created X pattern , @Resistance so wait for rejection in lower timeframe for Entry
Bullish > 22500
Bearish < 22350
NIFTY INTRADAY LEVELS FOR 06/05/2024BUY ABOVE - 22550
SL - 22510
TARGETS - 22600,22640,22710
SELL BELOW - 22470
SL - 22510
TARGETS - 22430,22360,22320
NO TRADE ZONE - 22470 to 22550
Previous Day High - 22780
Previous Day Low - 22360
Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day.
Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move.
Please NOTE: this levels are for intraday trading only.
Disclaimer - All information on this page is for educational purposes only,
we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made.
Request your support and engagement by liking and commenting & follow to provide encouragement
HAPPY TRADING 👍
Nifty50 Options Trading Plan: 3rd May to 9th MayGreetings traders,
I'm excited to share my trading plan for the Nifty50 options from 3rd May to 9th May. Let's dive into the analysis and potential scenarios.
Bullish Outlook:
Firstly, I hold a bullish sentiment for the Nifty50 9th May expiration option contract. Based on my analysis, I foresee two possible scenarios unfolding during this period.
Scenario 1: Dip Buying Opportunity
In the first scenario, I anticipate that Nifty may experience a temporary dip, possibly down to the levels of 22500/22400. This presents an excellent opportunity to buy call options at a discounted price, setting the stage for potential gains.
Scenario 2: Rally Commences
Alternatively, Nifty could kickstart a rally from tomorrow onwards, with targets set around 23000/23100. This scenario would signify a strong upward momentum, offering profitable opportunities for traders.
Trading Strategy:
Now, let's delve into the specifics of my trading strategy based on these scenarios.
Scenario 1 Unfolds:
If Nifty dips as anticipated, I have set a target range of 22800/22900. In this scenario, I plan to buy the 22650 call option at or below 60.80, considering its current price at 182.00. My target exit range for this trade is set at 200/210, adopting a "hero zero" mode strategy to maximize potential gains.
Scenario 2 Execution:
Should Nifty initiate a rally towards 23000/23100, I will adjust my strategy accordingly to capitalize on the upward momentum and potential price movements.
Conclusion:
With a bullish outlook and a well-defined trading plan for both scenarios, I am prepared to navigate the Nifty50 options market from 3rd May to 9th May. Remember, trading involves risk, so always implement risk management strategies and stay updated with market developments.
Happy trading and may the markets be in your favor!
Strong higher high higher Low pattern on Hourly chart. Positive.Nifty is making a higher high, higher low, pattern on Nifty. Which looks very promising and positive. For going further and higher and into unchartered territory Nifty needs to hold 22625 or at least 22547. These two points will work as great supports too. Below 22547 the next supports will be near 22483 and 22379. On the upper side the resistance levels seem to be at 22709, 22881, 22967 and finally 23026. Shadow of the candle looks positive.
NIFTY INTRADAY LEVELS FOR 03/05/2024BUY ABOVE - 22710
SL - 22640
TARGETS - 22780,22830,22880
SELL BELOW - 22640
SL - 22710
TARGETS - 22600,22550,22510
NO TRADE ZONE - 22640 to 22710
Previous Day High - 22710
Previous Day Low - 22550
Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day.
Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move.
Please NOTE: this levels are for intraday trading only.
Disclaimer - All information on this page is for educational purposes only,
we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made.
Request your support and engagement by liking and commenting & follow to provide encouragement
HAPPY TRADING 👍
Analyzing Nifty50 Spot's Triangle Pattern Breakout Trade PlanGreetings fellow traders,
I've been closely monitoring the Nifty50 spot since April 25th and have observed a range-bound movement, forming what appears to be a triangle pattern. I anticipate a breakout from this pattern tomorrow, which could lead to significant moves in the market.
My trade plan revolves around this potential breakout. If Nifty50 breaks out tomorrow, my targets are set at T1 (22727.80) and T2 (22895.40) . However, for the breakout to sustain above T1, my proprietary option pricing calculations indicate that the 22550 put option (2nd May expiration) should trade below 10.15 (today's closing price was 57.35).
Therefore, I'm planning to buy the 22550 put option above T1, with a stop loss set at 10.10 to manage risk effectively.
Let's stay tuned and execute this trade plan strategically.
NIFTY50 BULLISH CHANNELNIFTY is playing inside a strong bullish channel where we witness a steady growth ever since the bullish sentiment. Price respected the previous high created on the daily timeframe. Where we might see some price action intact with the upper and lower boundaries for sometime. With a future breakout confirmation on the lower boundary, we may witness a bearish trend with a nice bearish momentum.
NIFTY stuck in channelNSE:NIFTY at its all-time high is consolidating in a channel pattern between 22000 and 23000.
Good time to accumulate value stocks to reap benefits if nifty breaks upwards.
Also reserve to pump in capital if nifty breaks downwards.
Key note : Always follow proper risk management to avoid losing capital from false breakouts as this is common.
Caution : This is a knowledge sharing analysis, not a call.
Profits are not made from following ideas, but by following Risk Management.
Resistance zone between 22783 and 22755 comes into effect.After making a new high of 22783 there was a bought of Profit booking seen in Nifty. Two important international events of US FED Interest decision and CPI Inflation data are awaited so traders may have thought of being cautious at this juncture. Further bullishness leading to 22800, 22887 and 23026 is also a possibility but for that overcoming this important resistance zone is imperative. Supports for Nifty on the lower side in case of consolidation or further profit booking will be 22544, 22508 and 22358. If 22358 is broken we may see bullish grip weaken a bit and in this scenario bears can drag the Nifty further down to 22200 or even levels below 22000. The zone between 22544 and 22508 is an important support zone for Nifty now.
NIFTY Wait for a 1D MA50 pull-back and buy.The Nifty 50 Index (NIFTY) has been trading within a Channel Up since late December 2023 and today it hit the April 10 2024 High. That was a Higher High for the Channel Up and the price immediately got rejected.
Based on the 1D RSI, it may rise some more to its Resistance Zone before getting rejected but this sequence is very similar with the February 02 2024 rejection. Both fractals made clear technical Higher Lows at the bottom of the Channel Up and the February one after the rejection, pulled back to the 1D MA50 (blue trend-line) before finding Support and new buyers.
As a result, we are only willing to turn bullish again on the 1D MA50 and then target the Channel's standard target of the 1.382 Fib extension at 23100.
-------------------------------------------------------------------------------
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
-------------------------------------------------------------------------------
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
