Good Fightback by bulls but need a confirmation candle tomorrow.We saw a good fightback by Bulls today as the Nifty bounced back from just close to 50 days EMA but to ensure that this was the temporary bottom we need a confirmation candle to close the week. The Resistance for Nifty will remain at 22204 and 22311 followed by 22500 range. Supports for Nifty will remain at 21851, 21779 and 21614. Below 21614 again the bears will take over. Shadow of the candle today is very dull but slightly positive however as it is a weekly closing candle due to Friday bears will also try to close the Nifty in their favour. Nifty is again interestingly poised.
Niftylevels
All INDEX key levels for March 15, 2024 #Nifty #BankNiftyAll INDEX key levels for March 15, 2024 #Nifty #BankNifty
Overview:
Today's trading session presented significant opportunities within the Bank Nifty index and we executed the trades based on the levels published yesterday on tradingview and we were able to capture the Fall of 500 points in BankNifty
Here are the key levels to watch for potential entry and exit points in
BANKNIFTY
Resistance Levels:
- Refer the Red line on the chart
Support Levels:
- Refer the Green line on the chart
Trading Strategy:
- Long Position:
Consider initiating long positions near support levels only after reversal confirmation for potential upside movement.
- Short Position:
Consider initiating short positions near resistance levels only after reversal confirmation for potential downside movement.
Risk Management:
- Always use stop-loss orders to protect against adverse market movements.
- Consider position sizing based on risk tolerance and account equity.
Disclaimer:
These levels are provided for informational purposes only and should not be considered as financial advice. Trading involves risk, and past performance is not indicative of future results. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions.
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All INDEX key levels for March 14, 2024 #Nifty #BankNiftyAll INDEX key levels for March 13, 2024 #Nifty #BankNifty
Overview:
Today's trading session presented significant opportunities within the Bank Nifty index and we executed the trades based on the levels published yesterday on tradingview and we were able to capture the Fall of 500 points in BankNifty
Here are the key levels to watch for potential entry and exit points in
BANKNIFTY
Resistance Levels:
- Refer the Red line on the chart
Support Levels:
- Refer the Green line on the chart
Trading Strategy:
- Long Position:
Consider initiating long positions near support levels only after reversal confirmation for potential upside movement.
- Short Position:
Consider initiating short positions near resistance levels only after reversal confirmation for potential downside movement.
Risk Management:
- Always use stop-loss orders to protect against adverse market movements.
- Consider position sizing based on risk tolerance and account equity.
Disclaimer:
These levels are provided for informational purposes only and should not be considered as financial advice. Trading involves risk, and past performance is not indicative of future results. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Thanks
Nifty Intraday Trade Setup for 14 March , 2024Yesterday, the Nifty 50 index experienced a free fall. The question is whether this downward trend will continue today, especially on expiry day. Every day in the stock market is unique, and to succeed as traders, we must avoid being biased by previous movements. It's crucial to follow the levels.
Currently, the Nifty is trading flat, suggesting a higher likelihood of a flat opening today.
Intraday Range: 22,050 to 21,900
Long above 22,050 for the target of 22,120/22,150
Short below 21,900, and its target is 21,860/21800
NIFTY Prediction for tomorrow 11 Mar (Monday)Hello traders, As we discussed in our last analysis, the market took resistance from the Resistance zone, and the result was sideways.
If we look at the chart data now:
The market is taking resistance at the resistance trendline (Why this resistance looks like my last bank nifty analysis). The market is taking support at 22430. the market has touched this trendline multiple times, which makes it easier to break to the upside.
If we look at the OI data:
PCR = 1.11 shows a bullish market structure. If we look at the CE and PE activity, there is a huge amount of CE and PE writing on both sides. That indicates the market is going to be sideways. 22500 is Max-Pain.
FII and DII data do not show much of the information except that the market might open a small gap-down.
I am expecting the market to get consolidated.
Case 1: Market is sideways in orange region.
Case 2: Market breaks to upside till 22650. (Fib 1.414)
Reasons:
Price > EMA indicates the bullish nature of the market. but price >> ema(200) shows market need some reversion.
Price taking resistance at resistance trendline. (Sideways)
RSI is 40-60, showing a sideways market structure. If it breaks 60 to the upside. The market can give targets till 22650, which is also the Fib 1.414 level.
PCR = 1.11 (1.34 to 1.11) shows Bears are actively adding positions, which might force the market to be sideways. (Sideways)
Verdict: Sideways or Bullish
Plan of action:
Case 1: Short straddle 22500 (Hedge with 20 premium)
Case 2: Sell 22500 PE (Hedge with 20 premium PE)
NIFTY--Liquidity lies @Double Bottom??Nifty index is showing straight forward bullishness from the keylevel @from BASE high.
Price observed a rally base rally from 21500 levels to 22500 levels.
Trendline is also acts as support,to push the price.
Now A Lot of liquidity is lies below the trendline and as well as below the double bottom levels at 21800 levels,and also we have a strong demand zone lies at 21700 levels.Price has to test these levels again for further move in Nifty INDEX.
Will update all the information accordingly to reach for these levels.
All INDEX key levels for March 13, 2024 #Nifty #BankNifty
All INDEX key levels for March 13, 2024 #Nifty #BankNifty
Overview:
Today's trading session presented significant opportunities within the Bank Nifty index and we executed the trades based on the levels published yesterday on tradingview and we were able to capture the rise of 500 points in BankNifty
Here are the key levels to watch for potential entry and exit points in NSE:BANKNIFTY
Resistance Levels:
- Refer the Red line on the chart
Support Levels:
- Refer the Green line on the chart
Trading Strategy:
- Long Position:
Consider initiating long positions near support levels only after reversal confirmation for potential upside movement.
- Short Position:
Consider initiating short positions near resistance levels only after reversal confirmation for potential downside movement.
Risk Management:
- Always use stop-loss orders to protect against adverse market movements.
- Consider position sizing based on risk tolerance and account equity.
Disclaimer:
These levels are provided for informational purposes only and should not be considered as financial advice. Trading involves risk, and past performance is not indicative of future results. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Thanks
Head and Shoulders kind of pattern formed on Nifty hourly chart.Head and Shoulders kind of pattern formed on Nifty hourly chart which is not a very good indication for rest of the week. Only saving grace which can support Nifty in this scenario is a trend line and Mid-Channel support which are in the zone of 22302 and 22255. If 22255 is broken and we get a closing below it tomorrow or the day after H&S Break down will be confirmed and further down side can not be ruled out. In such a scenario Nifty might have support near 22129, 22077 (200 Hours EMA) and finally 22018. If by chance 22018 is broken on closing we might see further down side upto 21800 which seems to be the channel bottom. If H&S is not confirmed tomorrow or the day after and we receive good inflation data from upcoming India and US inflation data the resistances on the upper side will be at 22344, 22410, 22462 and finally 22523. Nifty is delicately placed near mid channel and trend line support. Very interesting week ahead. Flavour of the week, month or the quarter is going to be Large Cap stocks.
Nifty showing strong undercurrent of positive bias. Although various local and global Micro news and trends were indicative of Nifty rally fizzling out or making a top a strong undercurrent due to strong Macro factors is continuously providing undercurrent of positive bias to the Nifty and it keeps bouncing after every attempt to sell off. It will be interesting to see how much the Bull-Run can sustain further with elections and pre-election buzz starting to make itself more and more visible. Nifty supports remain at: 22436, 22325, 22263, 22129 and finally 22018. Nifty Resistances will be near: 22523, 22688 and finally 22854 which looks like a top of the current channel.
Navigating Volatility: Positional Strategies for MarchWork religiously irrespective of temporary failures, have risk management systems in place
As a seasoned derivatives trader with over a decade of experience, I find myself continuously drawn to the dynamic nature of the market. Inspired by familial ties and fueled by a passion for challenge, my journey into this realm began with humble internships and has evolved into a successful career within reputable broking firms. Today, I stand firm in my enthusiasm for derivatives, where each trading session offers renewed excitement and abundant opportunities for growth.
Futures and options are highly volatile so one should not assume that they know everything from day one. My journey has seen a fair amount of ups and downs, but it has all been a great learning experience at the end of the day.
The most important thing is that I have been willing to learn something new every day. I also make sure to have risk management systems in place before taking a position. This makes losses bearable and the victories more joyous.
Advice to women who want financial freedom and are very excited to enter the derivative field?
Continue working your way religiously irrespective of temporary failures. Maintain discipline and do a lot of preparation before entering the markets. Learn to embrace the fact that one bad day or one wrong trade does not define the rest of the year, if you have been disciplined.
Expect the Nifty 50 climbing above 23,000 in March after reading options data?
As per my analysis, I was looking at Nifty targets till 22,500 – 22,800 first. Any further correction or upside will be re-evaluated then.
Top two positional bets for March and why?
Since volatility is at its peak now, a good balance approach is important. Hence, my first pick would be as a defence play:
Buy Dabur India with a support at Rs 525-520 zones and look for upside targets till Rs 585/600.
Buy Glenmark Pharma with a support of Rs 920 and target of Rs 1,020/1,035.
Nifty or Bank Nifty strategy for next week?
FIIs net long position as on date is at 40 percent, which is quite steady. If it crosses 45 percent, then a strong short covering rally can come which will propel markets to a new highs and Nifty can test 23,000.
Bank Nifty is also on a strong momentum and can move towards 49,500/50,000 zones from here. We have been recommending largecap private banks and PSUs to our clients on a regular basis, and I still feel Axis Bank and SBI can see further meaningful upside from here in the March series.
The other sectors participating strongly now are chemicals, FMCG, technology, energy. So, I retain my view to go long in Tata Power, Reliance Industries, SRF, GNFC, Infosys, and Birlasoft.
For option traders, Bull Call spread on Nifty monthly expiry with 22,500 CE buy and 23,100 CE sell can be done (do not forget to keep stop losses as per risk appetite).
A Bull Call spread comprises buying one Call option with a lower strike price and simultaneously selling a Call option with a higher strike price.
Risk Management:
Stop Loss: Implementing a stop-loss strategy to mitigate potential losses in case of adverse market movements.
Position Sizing: Adhering to proper position sizing principles to ensure risk is managed effectively and in line with overall portfolio objectives.
Conclusion:
In conclusion, my journey into derivatives has been marked by challenges, opportunities, and unwavering passion. As I continue to navigate the intricacies of this dynamic realm, I remain committed to embracing the unpredictability of each trading day, knowing that therein lies the potential for continued success and growth.
Disclaimer: This trade idea is for educational purposes only and should not be construed as financial advice. Traders should conduct their own research and consult with a qualified financial advisor before making any investment decisions.
NIFTY--Keylevels @BASE??NIFTY INDEX is at crucial support at trendline...
after a long time consolidation, price moves upside.
DROP BASE DROP is observed previously...
BASE acts as resistance it will fall back to below demand zones...
we have a strong demand zone lies at 21700 levels...
so tomorrow we have to observe this base bottom is pushing the price downside or not...
by observing this we can decide further movement in NIFTY Index.
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On the other hand, if price consolidate between base high to base low..
if price breaks the high and retest to base high, then will go for long side continuation up to 22500 levels. Then will observe a inverse head and shoulders pattern in NIFTY INDEX to go long.
In-Depth Analysis of Nifty Market Trends and Future PredictionsMarket Analysis Overview:
In this comprehensive analysis, we delve into various indicators and market dynamics to provide insights into the current and future state of the Nifty market. By examining key factors such as Dow Zone, SJX Nifty, trading volumes, option chain data, and the behavior of different market participants, we aim to uncover potential trends and opportunities for traders.
Key Points:
Market Trends and Predictions:
Anticipation of a decline in the Dow Zone and SJX Nifty signals a cautious market sentiment.
Significant shopping activities, totaling Rs 1834 crore, indicate investor interest, but underlying secrets within this data require closer examination.
Heavy call writing observed at the 22300, 22400 level, while substantial put writing at the 22300, 22000 level suggests a range-bound market.
PCR ratio of 1.15 and India VIX indicate mixed sentiment, with potential for both upside and downside movements.
Nifty's side suggests volatility, with the market oscillating between positive and negative territory.
Current Market Position:
Nifty market is currently trending at 22301, with a pivot level identified at 22376.
Buy reversal level stands at 22355.8, while the sell reversal level is at 22392.
Breakout level to watch for is at 22418, whereas the breakdown level is at 22337.
Potential Targets:
Lower side targets are identified at 22316 or 22307, offering potential support levels.
Upper side targets stand at 22432 or 22440, indicating potential resistance levels.
Trading Strategy:
Based on the provided levels and targets, traders can formulate their strategies as follows:
Long positions can be considered near the buy reversal level (22355.8) with targets at 22432 or 22440.
Short positions may be initiated close to the sell reversal level (22392) with targets at 22316 or 22307.
Traders should closely monitor breakout and breakdown levels (22418 and 22337, respectively) for potential trend confirmation and adjust their positions accordingly.
Continuous testing and confirmation of support levels crucial for sustaining positive momentum.
Market's ability to maintain above key levels essential for retesting lifetime highs and avoiding breakdowns.
Expiry Dynamics:
With Nifty expiry approaching, attention shifts to identifying key levels and zones.
Bottom zone creation indicates potential for market recovery, contingent upon successful testing of support levels.
Retailer, DI, and AI Strategies:
Analysis of retailer, DI, and AI positions reveals shifting market dynamics.
Retailers predominantly taking long positions, while DI shows significant purchasing activity, influencing market sentiment and direction.
Conclusion:
In conclusion, the Nifty market presents a mix of opportunities and challenges, influenced by various factors including global cues, trading volumes, and investor sentiment. By carefully analyzing technical indicators, option chain data, and the behavior of different market participants, traders can better navigate the market and capitalize on emerging trends and opportunities.
Note: This analysis is for informational purposes only and does not constitute financial advice. Traders should conduct their own research and analysis before making any investment decisions.
#NIFTY Intraday Support and Resistance Levels -05/03/2024Nifty will be gap up opening in today's session. After opening nifty sustain above 22420 level and then possible upside rally up to 22540 level in today's session. in case nifty trades below 22370 level then the downside target can go up to the 22250 level.
Nifty moving in squeezing between two trend lines. As you can see from the chart Nifty is continuously making higher highs and higher lows. There is a trend line 1 which is continuously supporting the Nifty. There is another trendline 2 which stops the Nifty while it is growing. As of now the trend is normal bullish within the trend line but if the trend line is broken on either side we will have a decisive move.
As of now Supports for Nifty are at: 22357, 22293, 22207, 22061 and finally 21947.
As of now Nifty Resistances are at: 22433 (Strong Trend line resistance), 22469, 22512, 22604 and trend top resistance near 22719.
#NIFTY Intraday Support and Resistance Levels -02/03/2024Nifty will be gap up opening in today's session. After opening nifty sustain above 22350 level and then possible upside rally up to 22470 level in today's session. in case nifty trades below 22310 level then the downside target can go up to the 22190 level.
NIFTY--Trendline Holds or Breaks??Nifty index is showing strong bearish pressure from the 22200 levels.
A drop base drop is done.
Price tested the demand zones at 21960 levels .
now it is ready to move again or fall back to below trendline to grab the liquidity.
On bottom side, strong support at 21800 levels with an intersection point at trendline...
this is likely to push the price upwards....
If price breaks the trendline an observation point of resistance at 22100-22150 level is the strong resistance to push the price downwards.
If consolidation is observed above this levels leads to an breakout above 22300 levels for the targets likely to be 22500 followed by 22600 levels by keeping the SL at 22100-22150 levels.
If price falls from 22100-22150 levels, it will consolidate on bottom side to test the 21300 levels of support and will likely to continue to bottom side.
this is the crucial place to observe in NIFTY To continuation or Bearish??
Nifty took support at the trendline+200 EMA support as expectedAs it was expected and depicted in our message yesterday Nifty took support at the trendline+200 EMA support making a low of 21860 and closing at 21982 making a high of 22060. We had mentioned as 22053 as resistance in case of bounce. The resistance of Mother line, 50 EMA forced the Nifty down again.(As shown in the encircled portion in the chart). This is how Technical analysis works and helps us with market and related predictions.
Future supports for Nifty: 21860, 21872 (200 Hours EMA), 21824 and 21674.
Future Resistance for Nifty: 22056 (50 Hours EMA), 22152 and 22229.
NIFTY--Drop Base Drop or Bullish??Nifty index is still in consolidation zone...
We have a chance of drop base drop.Keep in long side as long as price is in channel.
even though it is drop base drop we have to wait for clear short side confirmation,wait until the price breaks the trendline and retest for shortside..
we have a lot of liquidity lies below,we can enter long again on bottom side if we find any possibilities.It may continue to moving down chances are more.
so keep safe manipulation moves may appear,this is the place for manipulation.
we have a clear demand zone lies at 21960 levels.
If demand zone failed to push the price upside, then will think of complete short side, below 21600 levels.
50 EMA giving proper support to Nifty again.Today again we saw benevolence of Mother line (50 hours EMA) coming to fore and supporting Nifty giving it support to close well in the green. If Nifty can close above a strong resistance of 22218 there are good chances of Nifty again reaching previous high of 22295 or even cross it and go towards new high of 22364. Supports for Nifty remain at 22110 and 22105 (Strong support Zone). If this support is broken the Nifty can fall to 21970, 21885 or even channel bottom and 200 Hours EMA (Father line near 21853).
NIFTY--Consolidation or Bearish??I am sharing the important levels of Support and Resistance. These levels plays a crucial role in trading decisions, as they act as reliable markers of price movements.
------>>Support levels are price points where an asset tends to find buying interest, preventing it from falling further.
---->Resistance levels, on the other hand, are points where selling pressure typically prevents the asset from rising higher.
Take a look at these levels and trade accordingly. Recognizing and respecting these support and resistance levels can help traders make informed decisions and manage risk effectively. They serve as key reference points for technical analysis and are vital tools in successful trading strategies.
Trade safe...Thank you guys for your support