NIFTY - Possibility of trend exhaustionOn hourly time frame, there is a possibility of an ending diagonal formation. The same when formed can act as a strong confirmation of an ending.
Watch out for today's high to be tested by a marginal increase.
Niftyintradaytradesetup
NIFTY - On the verge of a correction There is a possibility that the market is being interrupted by the intersection of two strong resistances (mid-trend line intersection) which calls for a correction in the monthly time frame.
However, the penultimate move is yet to be completed.
The market is about to test the previous day's low @23,442.60 & after that, there will be a struggling upward move testing again at 23,664. The correction progresses from there to the 21,280 ~ 21,200 levels
Today support for the upcoming penultimate move will be,
SI - 23,442.60
SII - 23,435 ~ 417
SIII - 23,382
NO recommended SL for this trade setup (Any substantial increase above 22,664, calls off the trade).
The resistance to the final move is 23,664 & is expected to surpass the said levels by a minimum margin.
Trade accordingly.
NIFTY - An interim correction in the finalk moveThe market is facing an interim correction from today's high (as we can infer the pattern completion in Hourly charts (11-3-&7). It will fall to the areas through the supports as mentioned below,
The support will be as follows 23318,23157 & 23,035 (strong)~22960.
Apart from these, the coincidental areas can be found between trendlines & retracement as projected in the chart
View on Nifty and BankNiftyHello Traders,
Checkout the quick update on Nifty and BankNifty. Be very alert
Understanding the Bullish Momentum in S&P CNX NIFTY: AnalysisUnderstanding the Bullish Momentum in S&P CNX NIFTY: A Detailed Analysis
The S&P CNX NIFTY, a crucial benchmark index in the Indian stock market, is currently exhibiting significant bullish momentum. With its spot price hovering around 22,957.1, close to the pivotal 23,000 strike price, there’s a clear indication of robust market activity and investor confidence. In this blog, we’ll delve into the specifics of this movement, examining the data on traded contracts, open interest, and changes in call options, to provide a comprehensive understanding of what this means for traders and investors.
Key Data Points
- **Spot Price:** 22,957.1
- **Strike Price:** 23,000
- **Max Traded Contracts:** 4,860,989
- **Call Open Interest (OI) (All Strike Prices):** 98,551.95 K
- **Call Turnover % Change (All Strike Prices):** 152.79%
- **Call Contracts % Change (All Strike Prices):** 150.70%
- **% Change in OI (All Strike Prices):** 62.43%
Breaking Down the Numbers
Spot Price vs. Strike Price
The spot price of the S&P CNX NIFTY is at 22,957.1, just shy of the 23,000 strike price. This proximity to a significant psychological and technical level suggests that traders are closely watching this threshold. It often acts as a key battleground for bulls and bears, influencing trading strategies and market sentiment.
Maximum Traded Contracts
A whopping 4,860,989 contracts traded at the 23,000 strike price underscores the high trading activity and interest. This volume signifies that a large number of traders are actively participating at this level, betting on the direction of the NIFTY.
Call Open Interest (OI)
With call open interest standing at 98,551.95 K across all strike prices, there’s a clear indication that traders are predominantly taking long positions in call options. This high open interest reflects expectations of further price increases, as call options provide the right to buy at a predetermined price, benefiting from upward movements.
Surge in Call Turnover
The 152.79% increase in call turnover points to a significant rise in the value of call options traded. This surge is likely driven by increased buying activity, suggesting a strong bullish sentiment. Traders are willing to pay more for call options, anticipating that the NIFTY will continue its upward trajectory.
Increase in Call Contracts
The number of call contracts traded has jumped by 150.70%. This substantial increase reinforces the bullish sentiment, indicating that more traders are entering the market with a positive outlook. The rise in call contracts suggests growing confidence in the market’s upward potential.
Change in Open Interest
The open interest has risen by 62.43%, showing that a large number of new positions are being created. This increase in OI is a strong signal of market engagement, with traders committing capital in anticipation of further price movements. High open interest typically correlates with increased liquidity and market depth.
Conclusion
The data paints a picture of a bullish market sentiment for the S&P CNX NIFTY. The close proximity of the spot price to the 23,000 strike price, coupled with high trading volumes and significant increases in call turnover, contracts, and open interest, all point towards a market poised for upward movement. Traders and investors are clearly optimistic about the NIFTY’s prospects, positioning themselves for potential gains as the index approaches and potentially surpasses the 23,000 mark.
Market Sentiment and Future Outlook
The bullish outlook on the NIFTY could be driven by several factors, including strong economic indicators, positive corporate earnings, or favorable market conditions. However, it’s essential for investors to remain vigilant, considering broader market trends and potential risks. While the data suggests optimism, market dynamics can shift rapidly, influenced by global events and domestic policies.
Disclaimer
This analysis is intended for educational purposes only and does not constitute financial advice. Investors should conduct their own research or consult with a financial advisor before making any investment decisions. Understanding market trends and data is crucial, but so is considering your risk tolerance and investment goals.
By keeping an eye on these indicators and understanding the underlying market sentiment, traders and investors can make more informed decisions, leveraging the bullish momentum of the S&P CNX NIFTY to their advantage.
Flying Index, Strolling Future!Nifty FUT does not seem keen to move up and that is a little worrisome. We are at striking distance to ATH but the timing is not to brilliant. Election results are still a couple of weeks away. We could move up a little and then retrace to consolidate near the 50% mark. This looks like a logical scenario. But informed institutions could take big positions and that could go against any narrative. Will trade only after watching for a while.
Trap!Looks like Nifty has walked straight into a spot marked with a big X like in the KGF2 movie. And is waiting to be shot down by bear cartel. This is the narrative that played out in my head.
Nifty could either consolidate OR fall from here.
On the contrary of Nifty Gaps up OR there is fresh buying in some heavy weights, good enough to make 22500 sellers run for cover, then we could see an unprecedented rally.
Rise to be sold into!The higher the Gap up today, the mor confident I shall be to sell on the first tick. There is one stop NIFTY missed in this pilgrimage downhill: "21800". When she realizes it, she would turn around and rush to make that final downward journey before continuing up to where she belongs.
A gap down opening is when things will become tricky. In this case there might or might not be a retracement to gather longs before falling.
NIFTY Next Week Target Prediction (May 16, 2024)Nifty 15m has conquered the EMA 100 at the end of the hour today.
We were able tp capture both the PE and CE side momentum using Risological Indicators.
Hopefully next week, we will see Bullish days.
On a Daily timeframe, chart looks BEARISH. So, we might also see a BIG gapdown on Monday morning.
Trade safe. have a happy weekend!
Bears... stay a little longer. Will be interesting to see where we open. A gap up will my ideal scenario where we could short with a tight SL from the word "GO...". A neutral opening, again if we plan to go short, the position size will have to be significantly smaller. In case of Gap down opening, I shall wait for a retracement to sell into. That's the plan.
NIFTY 780+ Points and RunningGUY!
Look what I ve been able to catch!
780+ points on NIFTY and still running.
Closed position partially. 25% still open position, Iam gonna let it run till the price crosses above the Risological Astra dotted line.
The Risological astra shows there is a little more room for a dip before a reversal.
Let's wait and watch.
Furthermore, the election results are round the corner, so expecting crazy moves soon.
I will update with fresh opportunities. Watch this space or follow my profile to catch moves.
Analysis for Nifty Swing Position
We have a Fresh 3H Demand which is the Source of the Uptrend till the Destination Fresh Weekly Supply.
Further in lower timeframe we will check for a confirmation
We see how the price has been moving making new lows ands new Highs until it reaches the 3H Demand and after reacting to the 3H Demand we see that Price has violated its previous high and now we also have a fresh Demand in 1H chart.
This 1H Demand is the Potential Trade Demand with an Amazing Reward to Risk Ratio.
But the Price where it reaches the Weekly Supply we are looking for a big downward move from this Weekly Supply hence make sure to exit on time.
Nifty Intraday Levels : 29-Apr-24Nifty closed near Supply & Trendline Resistance & so wait for Breakout or rejections at zones
Bullish > 22530
Bearish< 22450
All views for Educational Purpose do your own analysis before initiate trades.
#NiftyPrediction View #Bullish#Nifty Recently Made a Higher high, by breaking an range bound area and sustaining above the Level.
Recent fall is expected to be a correction to the Upmove.
Market is reaching towards #Demandzone. Wait for #priceaction Confirmation for #TrendReversal
Detailed Weekly Analysis for Nifty.
This is the Monthly chart to understand the biggest picture for Swing positions.
This is a Potential Weekly Demand which has the power to turn around the game in the buyers side. Now in order to reach this Demand Price needs to reach some Supply and then retrace down into this Weekly Demand.
Further down in Daily chart we see there is a "Violated Daily Demand", this clearly indicates Sellers have just become more powerful and we also have a Fresh Daily Supply which is a Source Supply for a Downtrend till the Weekly Demand shown in the 1st figure.
This is the Demand Supply Equilibrium Curve from potential Daily Supply to Potential Weekly Demand, wait for the Price to reach the Daily Supply and further the Curve tells us where the Price is on the curve and accordingly decide the Trade.
Bull Party On !!Nifty was in no mood to let doubters put her down. Bulls are buying back into the Indian dream. Or are they selling a pipe dream to retail pockets? Now hold your breath and look up to see how much profit is enough profit to take home for these big guys.
Nifty Price ActionThis is not an investment advice or recommendation, It's solely for Educational Purposes. This is the bias for Nifty for now. Market Structure is positive, will be working on the most probable setup. Expecting some retracement before continuation of the up move. Spotted this inverse head and shoulder structure. A high probability for long side trade.
Nifty Analysis At March EndThese the are 3 most probable paths for Nifty to move forward. We are bullish right now, however there's still room left for retracement. We can look out for longs once we confirm that the retracement is complete.
If selling stays strong and market structure shift bearish, then we can continue looking out for short side entries.
Monday 08 April , Nifty Intraday Setup Index behaviour has been unpredictable since January 2024. None breakouts or falls have been sustained for the whole day, which is a sign of the dirty uptrend, which is not reliable, especially when the Index is trading on ath
Intraday Range: 22,430 to 22,620
Strategy 1: The range is wider, so focus on reversals of critical resistance and support.
Strategy 2: The 30-minute Please find below a revised version of the text:
Since January 2024, the behaviour of the Index has been unpredictable. There have been no sustained breakouts or falls throughout the day, which indicates a dirty uptrend that is not reliable, especially when the Index is trading on its all-time high.
The intraday range for today is between 22,430 and 22,620.
To trade in such a market, you can follow two strategies:
1. The range is wider, so focus on reversals of critical resistance and support.
2. The 30-minute range can help you identify market curves and directions.
Risk management is crucial in such uncertain market conditions. To minimize your risks, you should:
- Keep your position size low.
- Choose the right segments to trade in.
- If you are a directional trader, trade-in pieces instead of taking a full position.ge also helps to identify the market curves and directions.
Risk Management :
Position size must be low
Segments will play a significant role
Trade in Pieces instead if you are a directional Trader
NIFTY LEVELS AND ZONE 05/04/2024 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between zones.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level. NSE:NIFTY
