Intraday analysis of ACC for intraday #BankniftyIntraday analysis of ACC for intraday
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Nifty 50 Intraday Trade Setup for 23rd November 2020Good Morning everyone,
Hope you all doing good and made good money last week. Nifty 50 is Trading on their Phycological resistance and harmonic PRZ, We had seen the same thing on the 12000 Level. The index is following the same thing at this point. The current Index range is 13030 to 12720. This 300 Points range shows that how many indexes strong since Sep month. We had seen the last major correction in September month after that Index has not given more than 400 points correction in his 2000 Point run. Straight run. In the last Video given you a short from the top in the Intraday. Intraday is very tricky at this point because of this range. Most of up move eaten by the FIIS in Overnight by Trading on sgx Nifty. Let's talk about current affairs.
Trade setup
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Long :
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India 50 is trading on a positive note around 60 Points up from the previous closing .so we can see a gap up opening today but you guys need to consider buying only above 13100. Very Less room in the upside as 13000 is the Phycological resistance followed up with Harmonic PRZ so be alert on Buy-side and buy only above 13100 which is hard to come in the Intraday but I do not want to take risks. Above 13100 we will get a Breakout confirmation and will see another 500-1000 run in the upside. 13100 is valid for the whole week as well.
Short
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An intraday day trade is very tricky in a range-bound market but there is a chance to sell from the top @12960-13000 SL is 13040.
The second confirmation for short is the Intraday Harmonic PRZ in India 50 at level 13013.
www.tradingview.com
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take different views and opinions.
Good Luck and Happy Trading
Virendra Pandey
Bearish but, still in no trade zone
Nifty has been bearish for quite some time now but, it is going sideways it, hasn't really fallen through. So it would it would not be prudent to short it now. Until it falls below 11600, and the way it has been finding supports it has been like holding on its own, shorting it seems risky.
And long red candles give high stop loss and near supports give very short rewards. Risk reward ratio is always important. So, no overnight trades in Nifty. It might be good for intraday options selling...
Bearish but, hold your gunsAs expected, Nifty pulled back today. But, it could not cross the resistance. So, it's dancing between support created by previous breakout and resistance created by previous support. That's a strong support. But the weak resistance held on to its own. And the bearish engulfing candle from yesterday says bearish chart.
Take trade only when the direction is clear and risk reward ratio is favourable.
Nifty 50 Weekly View & Trade Setup for October 4th week Hello everyone,
Last week we had given a short from 12000 with 12030. The index high is 1224.55. The index has fallen like a knife from this level and made 11664.00 Low almost 336 Points in the previous week. Hope you guys have made good money last week. Now the main question is what will be our setup for this week and what position we will be preferred in a shorter time frame and Intraday as well.
There is no doubt that the index is still bullish in a longer time frame but we are intraday and short-term swing trader and buy-sell are both positions is for us. In a shorter time frame, In shorter time frame Index is in a correction fedge and Short Position is much stronger than Long. Remember one thing always that Entry is very Important in Intraday. In the chart, I had marked some trend line so you guys can understand the current market situation. These lines are so Important in Intraday.
Trade setup
================
Long :
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SGX nifty is trading on a positive note so we can see a gap up opening today but you guys need to consider buying only above 11900. so wait until this level comes and the Index must be sustained on this level.Stop loss will 11850 Target: Open
Short:
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Short Position is tricky. Today Important level for short is 11860 and 11770 As I said before the current sentiment is bearish so both levels can consider for your short Position. Second If you see an up move at the first trading session and index test 11860-11870 then you guys can build your short position here with 11910 Stop loss.
The second short can considerably lower than 11770 with 11820 stop loss. Target is Open
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take different views and opinions.
Good Luck and Happy Trading
Virendra Pandey
Nifty Intraday Trade Setup for Friday 16th October 2020Good Morning everyone,
Hope you guys did well in yesterday's trading session and made a good buck. Yesterday fall was massive and target killers. Index fall was accepted from 12000 levels but to be honest I never think that it will be so huge and so straight. Bear always does this that's why I love Bear Market :) The main question is what about today's trading session, Well short-term correction is on and we can see a little more correction from here but the main question is what is our entry point for today's trading session...
Marked all stairs which were used in the bull run These stairs aka support can be used in the downside as well. Remember 11550 to 11600 is the major support in midterm so book you positional short at this level. Higher chances for a pullback or trend continue. Index short, Mid, and long term is an Uptrend so don't be nasty with your short and keep booking the profit.
Intraday View
=====================
We can see a small gap up Opening today but does not mean that will change the yesterday sentiment for now Index is short. We need to watch the 1st Trading session and see what will happen. The index is short in today's Intraday and you just need to wait for it.
Levels
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Today is only selling position and it has 2 points to build your short Position.
1st Sell Position: 10,640
Stop loss: 10680
Target and room in downside: 11580
Second Sell Position
===================
Tricky but worthy. Wait a first Trading hour and see the pullback for the previous swing low and wait for test the stairs no 11 which is an Intraday Resistance. The level is 11740-11760 short from here
Stop loss: 11800
Target and room in downside: 11670
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take different views and opinions.
Good Luck and Happy Trading
Virendra Pandey
Clearly Bearish but, hold your gunsOk, that huge red is candle is clearly a bearish signal. But, I am yet to go short. When it makes such a huge move in 1 candle, some buying may occur. And the immediate support is at 11660, see the horizontal line to depict support. That's a terrible risk reward ratio...
Nifty 50 Intraday Trade Setup for 09th October 2020Hello everyone,
Nifty has given an awesome move in the upside for the last 2 weeks. The index is still bullish until its not break 11500 but as I said always the Intraday trader doesn't care about the longer trend since the nature of trade is in the very short time frame. The current level is the strongest resistance as per fib and from the previous day swing high.
Chances for correction or a sideways market at the current level so our trade is based on this view. Consider a short position in today's trading session and it has 2 levels.
1st level is 11780 SL: 11835(Closing basis) Target is Open
The second level is based on the volatility of the index. if you have seen any up move in the first trading session and index test 11870-11890 again then open short from the top with a tight SL (11910).
Buying position only and only on confirmation and its come above 11920
Nifty 50 weekly forecast & Intraday setup for 05th October 2020Hello friends,
Hope you guys have done good in the last week and made some good money from the trading. I had seen that lot of peoples want to trade in Nifty and Banknifty Index just because of the volatility. I do agree that Index always has an opportunity for a knowledgable trader but the worst part is Index momentum is very hard to predict in the Intraday and you must follow the discipline more than any analysis. September is always a nightmare for Nifty 50 as per the last 3 year data. very volatile as we had seen recently. Total 1800 Points movement we had seen in the September month which is shown how many indexes volatile these days. Let's Investigate what was happened in September month.
Before the September Index was so bullish and making higher high and breaking most of the resistance but we had given you 10,750 level for a correction. This level has come from the harmonic and worked very well. The index has given 1000 Point downside move and made a low 10,790. Tou can see our 31st august analysis on the trading view. We predicted most of the major moves. I am gonna update all, check bellow images
Updated chart :
Then we predicted an upside move.
Updated chart :
Our last idea has been shared on Thursday and we pick Inda 50 for this analysis because Nifty 50 has not enough data. Check bellow Image
Updated chart :
These all our Past analysis and we have just updated them for your study purpose so you can believe that swing trading is far better than Intraday ... Now the main question is what gonna happen in October first trading week. Let's talk about key factors first.
Key Factors
==============
1-The Govt announced the launch of an ambitious information technology project 'Sunidhi' to digitize all provident fund and pension related activities of the Coal Mines Provident Fund Organisation.
2-India posted a trade deficit of $2.91 billion in goods in September. Merchandise imports contracted 19.60% in September to $30.31 billion from a year ago while exports rose 5.27% to $27.40 billion.
3-Automobile manufacturers showed significant signs of recovery as they dispatched 13% more vehicles to dealers in September. Tractor sales also increased, indicating that a good monsoon is driving the rural economy
4-NBFCs pin hopes on festive season for revival in credit disbursals. The collection efficiency of non-banking lenders and housing finance companies picks up.
5-India registered 79,705 new Covid-19 cases, taking the tally to 6,471,734. With a high level of recoveries, India was maintaining its global position as the country with the highest number of recovered Covid-19 patients.
6- An effective vaccine is not likely to be available for the general public before the fall of 2021, according to experts working in the field of vaccine development.
7- India’s economy posted its worst slump in the three months ended June as disruptions caused by the Covid-19 outbreak brought Asia’s third-largest economy to a halt. Economists expect growth to shrink in the year through March 2021, in the first such contraction in more than four decades.
8-Bringing huge relief to individual and MSME borrowers, the Centre told the Supreme Court that it would waive interest on the repayment of loans of up to Rs 2 crore. The move will provide relief to individual borrowers MSMEs during the COVID-19 outbreak. The waiver on interest would apply, irrespective of whether the borrower has availed of the moratorium in the categories of loans specified by the Govt. The waiving off interest on loans to every category would amount to a burden of Rs 6 lakh crore for banks.
9- Indian rupee, Crude oil is stable.
Weekly Trade Setup
====================
Nifty is trading on a major resistance area (11,500) and a correction is accepted.11,200 is the support area. This 300 Point range will decide Nifty Movement for this and for this month so keep an eye on both levels and set up your trade according to it .
Intraday Trade Setup for 05th October 2020
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As per Sgx nifty, we are going to see a huge gap down again so most of the levels based on previous data is Invalid now. We need to set up a fresh trade today. I suggest Use 30 Minute candle high low set up your trade. Wait first 30 minutes. Go in long if a high break or short if low breaks . Use less exposure on the buying side.
Major Intraday Resistance is 11,456 and major Intraday support is 11,300.
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take different views and opinions.
Good Luck and Happy Trading
Virendra Pandey
Nifty 50 weekly forecast & Intraday setup for 31st August 2020 Good Morning friends,
Hope you guys have spent a great time this weekend and made good money in August expiry. Last trading week Index has given an awesome move in the upside. There is no doubt that The Index is trading in an uptrend and making a new high every week but the September month is gonna different from other months. This is a crucial area for the nifty 50 Index because Harmonic prz sits on 10736 to 10800 and it is the supply zone. The important thing is what you guys need to do at this point and what not do. First, stop chasing the trade and do not fight with the Market. Let's talk about key factors for this week and for today's trade setup.
Key Factor
=============
1-The Home Ministry issued the Unlock 4 guidelines under which metro trains will be allowed to resume services from September 7 in a graded manner, while political, social, and religious congregations of up to 100 people will be permitted from September 21. However, schools, colleges, and other educational and coaching institutions will remain closed for students till Sept 30, with some relaxations for students of classes 9 to 12.
2-The ED said it has unearthed an online betting scam that involved Chinese nationals and used payment wallets such as Paytm, Cashfree, and Razorpay to make remittances worth Rs 1,200 crore in India and abroad.
3-States will have to bear the interest burden if they decide to borrow the entire Rs 2.35 trillion shortfalls estimated in GST revenue: that’s the second option the central Govt has proposed to raise resources to compensate states amid inadequate cess collection.
4-India reported an increase of 76,472 in its total count of confirmed coronavirus cases. With this, the country’s total Covid-19 case tally reached 3,463,972, and 1,021 fatalities pushing its death toll to 62,550. It is now the third most affected country by total cases, second by active cases, and fourth by death toll.
5-The I-tax dept will soon start sending out intimation to assessees undergoing scrutiny that such cases would now be handled under faceless assessment. Domestic transfer pricing cases too will be covered under the faceless assessment mechanism.
6-The RBI is unlikely to extend the moratorium on repayment of bank loans beyond August 31 as an extension could impact the credit behavior of borrowers without resolving the issues being faced by them following the outbreak of the Covid-19.
7-The Supreme Court held that no state or university can promote students in the final year without holding exams as per the guidelines of the University Grants Commission.
8- Dow is still strong and trading on upside note.300+ Point rally after the Friday trading session.
9- Crude oil steady but almost flat since June month.
10-Rupees is looking strong and in a much better position in August Month.
Trade setup for 31st August
================================
As I said in starting that Index is trading on their supply zone so Intraday Trade is a bit tricky here. I will prefer shorts Positions but only for confirmation. There is no a certain level since a lot of chances to see a major gap up opening. Today use 15-minute candlestick to build your trade. the first 15 minutes and set up your trade on it. Go for long if 15 minutes candle high break or open a short if the low break of 15-minute candles
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take different views and opinions.
Good Luck and Happy Trading
Virendra Pandey
Bearish trend has startedI have been maintaining Bearish sentiment on Nifty. This is the third high which is lower than the previous. Short it!
Nifty 50 Intraday Trade Setup for 24 August 2020Good morning everyone,
In the last trading week, we have seen a sideways market. Momentum and direction both were missing in the nifty 50 Index. this is an indecision point to tell what our nifty will do this week. Possibilities on both sides and Index can give any move either upside or downside. The important thing is what you guys need to do at this point and what not do. First, stop chasing the trade and do not fight with the Market. There is no trade and you guys need to accept it. Let's talk about key factors for today's trade setup.
Key Factor
================
1-Union Minister said that the country will have a vaccine against the deadly coronavirus by the end of the year. India currently has three vaccine candidates for Covid-19 -- ChAdOx1, developed by Oxford University, manufactured jointly by the Serum Institute of India and AstraZeneca; Bharat Biotech's Covaxin, jointly developed with the ICMR, and the third is ZycovD by Zydus Cadila.
2-SEBI’s decision to appoint GP Garg as ED has sparked a "strong protest" from the market regulator’s employee association, which has objected to the practice of appointing outside persons or those from non-core streams.
3-India is poised to hire Deloitte & SBI Capital Markets Ltd. to help LIC of India prepare for an initial share sale. The Govt is keen to go ahead with the IPO, potentially India’s biggest to help plug a widening budget gap.
4-The country recorded 69,878 new coronavirus cases in the last 24 hours, taking the total tally to 29,75,70. During this period, 945 people lost their lives due to Covid-19 infection, taking the death toll to 55,794.
5-The RBI suggested bringing down the Govt’s stake in six leading PSBs to 51% over the next 12 to 18 months. This, the regulator feels, will give a much-needed push to the Govt’s disinvestment efforts.
6-The RBI is at the end of its rate cut cycle as inflation is unlikely to decline materially from the current level, and the onus of economic recovery has now shifted to the Govt.
7-SGX nifty is trading on 11419 which is 36 points up from the previous closing. Flat or small gap up is Possible.
Technical View & Trade Setup
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Friday range (11420-11360) is so Important and you guys need to avoid trade btw this range. You can call them as Intraday resistance and support and our long and short can build on these levels. Nifty Strongest resistance on 11750 and support is on 10900. Sell the bellow image to understand the support and resistance in a longer time frame
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take different views and opinions.
Good Luck and Happy Trading
Virendra Pandey
Nifty Intraday Trade setup for 17th of August 2020Good Morning everyone,
Hope you guys are doing great and making some money from the stock market.IIn the Friday trading session we had seen a free fall move-in downside from the resistance area. This move was accepted and due to the last week. The main question is does this fall will continue in today's trading session or we will see a short-covering in today's Trading session. Let's see the key factors for today's trading session.
Key Factors
==============
1-PM said that mammoth steps have been taken to make the country self-reliant in the defense sector, import of more than 100 military equipment has been stopped. From missiles to light military helicopters, from assault rifles to transport aircraft all will be made in India.
2-Russian President greeted the Indian Govt on 74th Independence Day, *India rightfully enjoys high prestige among the international community, and the success achieved by India in economic, social and other spheres is widely acknowledged.
3-The Govt withdraw a controversial tweet that talked about a proposal to bring transactions under the income tax scanner. The tweet was put up by mygovindia. According to the tweet, the Govt proposed to include life insurance premium above Rs 50,000, health insurance premium over Rs 20,000, foreign travel, education-related fees, and donations above Rs 100,000 in a year in the list of Statement of Financial Transactions. Other transactions proposed to be included are the purchase of white goods, jewelry and paintings over Rs 100,000, and Demat accounts and bank lockers.
4-ivatives of crude oil, their prices move in tandem with crude oil prices. Polyplex group’s profitability margins remain susceptible to any adverse movement in the prices of raw materials. The overseas subsidiaries of PCL have availed term borrowing denominated in EURO and USD and hence remain exposed to foreign currency fluctuation on the payment date. Thus the company is exposed to forex risk on account of any adverse movement in the foreign currencies. In this quarter foreign currency gain was recorded around INR 106 Cr
5-The next few months will be "critical" for the country in the bid to revive economic activity and further fiscal measures may be warranted to ensure that recovery gathers pace, Niti Aayog Vice-Chairman said.
6-India’s exports contracted by 10.2% in July, as the trade of major foreign-exchange earners such as petroleum, gems, electronics, and textiles remained subdued.
7-India has recorded over 65,600 coronavirus cases in the past 24 hours, taking its total to 2,525,222. With over 1,000 fatalities reported on Friday, India's death toll has surged to 49,134.
Technical View
================
One thing is clear that Index is now in the correction phase but the main question is what will our entry in Intraday and what position we will prefer. Well, Index is gonna more volatile for today's trading session and we can see a gap up Opening today. 11250-11270 is the Intraday Resistance, and a correction is accepted from here. Nifty Major Resistance area is 11360.
Nifty Major support is on 10875 and Intraday support sits on 11025..
Trade Setup
=======================
There is no buy position in today's trade setup. We, Risky Trader, can open a short if see any gap up or the first hour up move and Index tests 11250-11270 with 11300 stop loss. Safe Traders can wait the first 30 minutes and mark the high lows of first 30-minute candle and setup trade on it.
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take different views and opinions.
Good Luck and Happy Trading
Virendra Pandey
NIFTY 50 IS CONTINUOUSLY REJECTING THE LEVEL ABOVE 11300FROM PAST TWO TO THREE DAYS NIFTY 50 IS CONTINUOUSLY REJECTING THE LEVEL ABOVE 11300 WHICH SHOWS THERE IS GOOD NUMBER OF SHORTER SITTING ABOVE 11300.
ONLY FOR EDUCATIONAL PURPOSE.
Nifty Big Bear Case - long term view.Nifty has managed to close above its 100 week EMA. Previously the zone near this EMA has acted as a major trend reversal zone and has also had many fake-outs near 100 WEMA (which you can see on charts) before reversing the trend which is a possibility here. It can test upper levels of 11000+ to potentially trap bulls before reversing. A weekly close below 10728 on Nifty spot would confirm this thesis. As long as Nifty doesn't close a weekly candle below 100 WEMA this bear case will be null and void.
Nifty 50 Intraday Trade Setup for 10th July 2020Good Morning friends,
Hope you guys are doing great and making some money from the stock market. In July month we had seen a choppy start and an infection market. The index is testing 10,840 levels multiple times this week but failed to sustain above on it. In June month we had seen an awesome bull run and index rally was more than 1000 points. Questions are in the index bull run is stop or there is still room to go upside. As per my analysis, the Index is still bullish and can be tested 11,100 but need to sustain above 10,840. Let's talk about the key factor first.
Ket Factors
============================
1-A slow and steady start in Sgx nifty. The index is trading on 10,975 which is 40 points low from the previous closing. Sgx nifty is also trading on the resistance from the last couple of days and sustaining above on it which is a clear sign for strength. See the below chart.
2-I had predicted Dow move a couple of days ago and it works as per our analysis. Trading on a negative note. Check the below Image to understand the DOW move for the next couple of weeks.
3-COVID-19 cases rose from around 9,000 in the first week of June to over 20,000 in the first week of July.
4-There are also red flags regarding fresh non-performing assets for banks, which may begin to show up after the moratorium period ends on August 31.
5-Stock exchange data also shows a sharp jump in the market share of non-institutional investors (retail investors) participation in the cash segment; this is the highest since August 2009. The share of NICs, which stood at around 50% in FY20, jumped sharply over the last three months and rise to 68%.
6-Global banks face combined loan losses of $2.1 trillion by the end of 2021 as a result of the coronavirus crisis, credit rating agency S&P Global estimates, with a hit of $1.3 trillion this year more than doubling the 2019 level.
7-A fraud of 36.9 billion rupees ($492 million) is being reported to the Reserve Bank of India in the accounts of Dewan Housing Finance Corp., Punjab National Bank said in an exchange filing. The lender has set aside 12.5 billion rupees of provisions pertaining to this incident
8-INDIAN GOVT IS SAID TO TAKE STRICT MEASURES ON STEEL IMPORTS|| INDIAN GOVT PREPARING TO IMPOSE MORE CUSTOM DUTY ON STEEL
Technical View
=====================
10,800 to 11,100 the whole area is supply zone. We had seen a sharp fall on 08th July but yesterday Index has covered the all down move and closed again above 10,800 which is a good sign for Bull. The index is still trading in an uptrend channel so there is no weakness.
Resistance: Intraday Resistance is sitting on 10,850 and the key Resistance is on 11.126.
Support: Intraday support is on 10670 and key support sitting on 10,450
Trade setup
==============
Buy : 10,850 Target:10,890/10,940/11,000 Stop Loss:10,800
Sell : 10,740 Target: 10,690/10,630,10,570 Stop loss : 10,810
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take different views and opinions.
Good Luck and Happy Trading
Virendra Pandey
Nifty 50 Intraday Trade Setup for 26 June 2020Good Morning friends,
I hope you guys are doing good and making money from the stock market. finally ending with a negative bias in June month expiry. We enter in July month expiry. In June expiry Index was so bullish and give almost 1000 Points run. The question is is the Bull run will be continued in July also. Well, Index is breaching on their supply zone ( 10800-11000) and we can see a correction from here. The short term trend of Nifty is still negative. Let's talk about key factors for today 26th June trade setup.
Key Factors
===========================
1-SGX closed on 10289 which is 53 point above from the previous closing. A small gap up or flat opening we will see in Nifty 50 Index.
2- Dow is recovering from last week. Trading on 10307 which is 71 Point above from the previous closing.
3-Rupee keeps its range-bound trades continued between 75.50-75.90 & broad range of 75.00-76.40.
4-Cautiousness was visible as the IMF revised their GDP growth outlook for India and the infections continued to rise. India on June 25 recorded its highest single-day jump of nearly 16,000 COVID-19 cases and the number of cases in Delhi surpassed Mumbai on June 24 while the lockdown in containment zones in West Bengal was extended till July 31.
5-The Railways on June 25 announced its decision to cancel regular time-tabled passenger services, including mail, express, passenger and suburban services up to August 12. It had earlier canceller all regular train services till June 30.
6-India plans to impose stringent quality control measures and higher tariffs on imports from China, people with the knowledge of the matter said, as a military standoff between the neighbors threatens economic ties. China is India’s biggest source of imports, with purchases including electronic goods, industrial machinery, and organic chemicals running into almost $70 billion last year. Beijing enjoys a trade surplus of about $50 billion with New Delhi. Source Bloomberg
Technical View
==============================
Nifty on Thursday closed bellow 10,300 but the candle is bullish on the daily chart and index has still room in the upside and can test 10,800-11,000. this is the major supply zone for Index.
Resistance: Intraday Resistance is on 10,360 and key Resistance area is on 10,800 to 11,000
Support: Intraday support is on 10,200 and the key support is on 9,500
Trade Setup
===============
Long: Long Position can build on the breakout of the Intraday resistance which is 10,360
Short: Short Position can build lower than 10,195
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take different views and opinions.
Good Luck and Happy Trading
Virendra Pandey
Nifty 50 Intraday Trade Setup for 22 June 2020Good Morning Guys,
I hope you guys doing good in this weekend and made some good bucks last week. The last 2 days was a big hit in the previous week and we had seen a good rally in Index almost 400+ points in just 2 days. Do not make any view if you're doing intraday and follow simple price action. I do not understand why people make view on a news basis since they're doing Intraday. Retailers are negative because India china clash and market trap most of them and give a good rally in the upside.
Is this a Bear Trap?
Of course, this is a bear trap. Most of the traders have negative thoughts for the market and they're thinking for short but the market is not giving any short and making new high daily. I know most of the things are negative like economic. corona patients numbers but look at the index so be careful at this point and don't short Index without confirmation. Let's Talk about the key factor for Monday Trade Setup.
Key Factors
=============================
1= SGX nifty has closed in friday on 10138 . which is 98 Point low from the previous closing. We can see a profit booking on monday and Index is about to Open 100+ Point Gap down.
2-Diesel Price Hits Record High After Rates Hiked For 14th Day In A Row; Petrol Up 51 Paise*
Diesel price on Saturday hit a record high after rates were hiked by 61 paise per liter while petrol price was up 51 paise, taking the cumulative increase in rates in two weeks to Rs 8.28 and Rs 7.62 respectively.
*Govt is only generating revenue for increasing petrol and diesel prices*
3-HDFC looking to raise up to Rs 14,000 crore to bolster liquidity and expand business
4-Total cases of coronavirus are above than 03 lac.
5- 14-15000 Corona Pateinnt Cases register daily.
6- India is the 4th Heavily Infected Country of COVID.
7- The USA can ban an H1-B visa and it can affect IT sectors.
Technical View
=======================
The index current range is 10400 to 9500. Both levels are so important for the index to see a clear direction. 10430 is also a B point for the Harmonic ABCD pattern. The index can make 11100 if the Index sustains above on it. if Index breaks 9500 then we can see 8750 again so keep an eye on both of Levels.
Trade setup :
===================
Long: Intraday Resistance is on 10300 and we need to wait for the break out this level about to Open a long position on Monday Session.
Short: Short Position can build lower than 10100.
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take different views and opinions.
Good Luck and Happy Trading
Virendra Pandey
Nifty 50 Intraday & Expiry Day Trade Setup for 18th June 2020Good Morning Friends,
First, accept my apologies for not posting the morning view regularly. I am a lazy and self-satisfied person but trying my best to post my view regular so you guys can get my detailed view before the trading session yesterday Index has given a sideways momentum and trade in a range, well it was expected and most of time happened on Wednesday trading session just because of managing the options strike prices. Let's Talk about today's Key Factors.
Key Factors
==================================
1- SGX morning session will start in 30 minutes. in Night index was closed on a flat note.
2- USA index Dow Trading on 25968, slips more than 500 plus points in overnight.
3-The geopolitical tension between India and China has brought back the risk-off mood in investors.
4- Gross advance tax collection down 31%. Net advance collection 32.3 % down. Corporate tax downed 79%.
5- Crude is steady and strong.
Technical View
===========================
Most of things already explained on the chart. This is infection point and bull and bear both are confused, where to go?
Resistance: Intraday resistance is sitting on 10,040 and we can see a move on the breakout. Nifty Key resistance is om 10,450-10,570...
Support: Intraday support is on 9,800 and key support of Nifty is on 9,600.
Trade Setup :
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Long: 10,040 sl : 9,990 Target : 10,090/10,130/10,170
Short: 9,830 sl: 9,890 Traget : 9,790/9,720/9,690
My Trade Setup: I have a plan to write a 10,100 call and 9,700 Put. Both will be zero at the end of the day
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take different views and opinions.
Good Luck and Happy Trading
Virendra Pandey
Nifty 50 Intraday Trade Setup for 9th June 2020Good Morning sir's
I hope you guys have made good money in Yesterday's trading session. Our 15-minute candle high low trade setup was work well. The index has given a good move on the breakdown of 15 Minute candle low. Most of the traders suddenly bearish and saying that the index will fall more but as per my analysis yesterday was just a profit booking day and Index still has 300-400 Points room in Upside. Let's see what the key Factor for today Trading session.
Key Factors
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1-Word Bank says " In India, growth is estimated to have slowed to 4.2 percent in the fiscal year 2019/20 (the year ending in March-2020) and output is projected to contract by 3.2 percent in fiscal year 2020/21
2-Crisil Thinks It’s Likely Indian banks’ loan growth will slow to nil to 1% in the year started April 1, according to the Indian unit of S&P Global Ratings.
That’s lower than 6.1% in the previous fiscal year, which was already a multi-decade low.
Corporate borrowings, which account for half of the total credit, will be worst hit, and loans to individuals will decelerate to “low single digits” from “mid-teens” in the past few years, Crisil Ltd. said in a report.
“This crisis is unprecedented and so will its economic fallout be,” said Crisil’s Senior Director Krishnan Sitaraman.
3- COVID-19 cases continue to rise and the market seems to be ignoring this
4-SGX nifty Trading on 10,1999 which is 36 Point up from the previous closing. Accept a small gap up Opening.
5-the Dow Jones Industrial Average was up 254.55 points
6-The Nasdaq composite rose to a new record high on Monday and looks on track to confirm that it has been in a bull market for two and a half months according to many definitions, after Wall Street's nosedive on worries about coronavirus.
Technical View
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Resistance: The Index is Trading in a channel since march and this channel works beautifully to define dynamic support and resistance in a short time frame. Channel resistance is on 10,500 which follows from harmonic XABCD pattern(10,420). Yesterday we have seen a profit booking and most of the trader has changed their view but I am still bullish until the index goes tho their strongest supply zone ( 10420 to 10600).
Support: Index Key support is still on 9,600 to 9,700
Option Chain data
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Maximum call OI of 16.85 lakh contracts was seen at 10,500 strikes price, which will act as crucial resistance in the June series.
Maximum put OI of 23.4 lakh contracts was seen at 9,900 strikes price, which will act as crucial support in the June series.
Trade setup:
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Build Long Position if Index sustain above the 10,300 Level SL : 10,215 Target: Open
The short position can build lower than 10,140 SL: 10,190 Target: Open
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take different views and opinions.
Good Luck and Happy Trading
Virendra Pandey
Nifty 50 Intraday Trade setup for 8th June 2020Good Morning sweet peoples,
NIfty was damn bullish since 28th may and give an awesome really in the upside, 1000 point is just 10 days. Question is Can we trust on this bull run or it's just a bull trap only for retail investors. Well, a downtrend has never ended in just 2-3 months. The average cycle of a downtrend is 9-10 months and we learn this from history. Nifty major supply zone is 10,400 to 10,550 and we must keep an eye on this level. Let's talk first about the key factors which can affect today's trade setup.
Key Factors
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1-Moody’s downgrading India’s rating recently, Any further downgrade will make India susceptible to flight of capital and leave its currency vulnerable.
2-India went past Italy to become the sixth worst-hit nation by the Covid-19 pandemic. India saw a record single-day jump of 10521 coronavirus cases and 297 deaths on Saturday, pushing the nationwide infection tally to 2,46,622 and the death toll to 6,646.
3-Banking system credit down almost 50% from a year ago, reflecting the impact of the nationwide lockdown imposed at the end of March.
4-The coronavirus pandemic, which has presented challenges for several nations, could be an opportunity for India to speed up the health insurance scheme Ayushman Bharat, especially with a focus on primary healthcare. Pharma sector is still bullish
5-SGX nifty has given a good really in upside on Friday after our market closed and made a new high 10352. Currently trading on 10234 which is still high and we are going to see a Gap Up Opening today.
6- US30 Aka Dow also made a new high in the last 2 trading sessions almost 1000 point rally.
7- Asian market also seems bullish.
8-Foreign institutional investors (FIIs) poured in Rs 13,927.52 crore in cash markets (equity) in the first week of June, which was higher than Rs 13,914.49 crore invested in the entire May.
Technical View
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SGX Nifty
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Let's talk first about SGX nifty. Our Index has not much enough data because of limited trading sessions. SGX almost trading on its supply zone. look the Bellow picture
India 50
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Nifty 50 Index
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Our Nifty Future trade in 2 places and I mentioned both of chart above. NIfty Major Resistance area is 10,420 to 10,550 and we must keep an eye on this level. The support zone is 9,602. The index is trading in an uptrend channel and the channel resistance area is also on 10,400 to 10,500.
Trade setup
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Due to a gap up opening, most of the levels are destroy here so we will our 15-minute range strategy for today's trade setup. Wait for a 15-minute mark high and low of the candle and set up your trade according to it.
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take different views and opinions.
Good Luck and Happy Trading
Virendra Pandey
