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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
NSE:NIFTY
by CodeViser
2
TRADERSAI - A.I.POWERED NIFTY TRADING PLANS for MON 08/09Hey folks, The trading levels for today, MON 08/09, are as given in the chart. Read below for more details. Our debut message below (published on Thursday, 07/30) explains the notation and how to interpret the trading plans we publish, and who we are in this space. This is the Trading Day-7 of our limited test-launch for the Indian stock market NIFTY 50 Index. Appreciate your feedback and comments. NOTE: Pay attention to the Take Profit and Stop Loss levels added as note ( iii ) below. Good luck with your trading today! *********************************************************** Hey everyone! After two years of unprecedented growth and consistent performance in the US with daily trading plans on the S&P 500 Index , we are now testing our models on the Indian stock markets with the NIFTY 50 Futures . This is our debut for you all who have been waiting for it! While we know this would enthrall many readers that have been asking for it, we are cautious about jumping on these trades right away - give these models a few days, see how they perform, and then begin to adapt them to your own trading style and risk appetite. And, please do share your feedback, thoughts, ideas, and suggestions about anything glaring or missing - we are new to the Indian markets and are still trying to learn its idiosyncrasies. Thank you! Notation: (i) Use these line crosses on your choice of time frame chart. Most aggressive - on a 1-minute chart Moderate - 5 to 15 minute chart Intraday swing - 30 minute chart Note that the lower your time frame, the more choppiness and whipsawing you might experience in your results. (ii) Cross Above (Below) - triggered when the previous close was below (above) the line and the current close is above (below). Aggressive traders may use other criteria such as high crossing the line, close crossing the line without regard to the previous close, etc. Solid Green Line: Models would go long on a cross above this line Dotted Green Line: Models would close out a short (buy to close an open short but NOT go long). You can use Close-to-Close basis OR Open-to-Close basis OR Low-to-High, depending on your trading style. Solid Red Line: Models would go short on a cross below this line Dotted Red Line: Models would close out a long (sell to close an open buy but NOT go short). You can use Close-to-Close basis OR Open-to-Close basis OR High-to-High, depending on your trading style. ( iii ) Take Profit: Our NIFTY models are currently using a 20-point trailing stop activated once a 15-point profit level is reached. Stop Loss: Our NIFTY models are currently using a 30-point stop loss level activated at the entry. This is NOT an investment advice. This is meant for experienced traders to use as another tool to inform and guide their own trading decisions.
NSE:NIFTY
by TradersAIDotCom
TRADERSAI - A.I.POWERED NIFTY50 TRADING PLANS for THU 08/06 Hey everyone, The trading levels for today, THU 08/06, are the same as for yesterday. Read below for more details. Our debut message below (published on Thursday, 07/30) explains the notation and how to interpret the trading plans we publish, and who we are in this space. This is the Trading Day-5 of our limited test-launch for the Indian stock market NIFTY 50 Index. Appreciate your feedback and comments. NOTE: Pay attention to the Take Profit and Stop Loss levels added as note ( iii ) below. Good luck with your trading today! *********************************************************** Hey everyone! After two years of unprecedented growth and consistent performance in the US with daily trading plans on the S&P 500 Index , we are now testing our models on the Indian stock markets with the NIFTY 50 Futures . This is our debut for you all who have been waiting for it! While we know this would enthrall many readers that have been asking for it, we are cautious about jumping on these trades right away - give these models a few days, see how they perform, and then begin to adapt them to your own trading style and risk appetite. And, please do share your feedback, thoughts, ideas, and suggestions about anything glaring or missing - we are new to the Indian markets and are still trying to learn its idiosyncrasies. Thank you! Notation: (i) Use these line crosses on your choice of time frame chart. Most aggressive - on a 1-minute chart Moderate - 5 to 15 minute chart Intraday swing - 30 minute chart Note that the lower your time frame, the more choppiness and whipsawing you might experience in your results. (ii) Cross Above (Below) - triggered when the previous close was below (above) the line and the current close is above (below). Aggressive traders may use other criteria such as high crossing the line, close crossing the line without regard to the previous close, etc. Solid Green Line: Models would go long on a cross above this line Dotted Green Line: Models would close out a short (buy to close an open short but NOT go long). You can use Close-to-Close basis OR Open-to-Close basis OR Low-to-High, depending on your trading style. Solid Red Line: Models would go short on a cross below this line Dotted Red Line: Models would close out a long (sell to close an open buy but NOT go short). You can use Close-to-Close basis OR Open-to-Close basis OR High-to-High, depending on your trading style. ( iii ) Take Profit: Our NIFTY models are currently using a 20-point trailing stop activated once a 15-point profit level is reached. Stop Loss: Our NIFTY models are currently using a 30-point stop loss level activated at the entry. This is NOT an investment advice. This is meant for experienced traders to use as another tool to inform and guide their own trading decisions.
NSE:NIFTY
by TradersAIDotCom
TRADERSAI - A.I.POWERED NIFTY50 TRADING PLANS for MON 08/03 Hey all, Our debut message below (published on Thursday, 07/30) explains the notation and how to interpret the trading plans we publish, and who we are in this space. This is the Trading Day-3 of our limited test-launch for the Indian stock market NIFTY 50 Index. Appreciate your feedback and comments. Good luck with your trading today and have a great week ahead! *********************************************************** Hey everyone! After two years of unprecedented growth and consistent performance in the US with daily trading plans on the S&P 500 Index , we are now testing our models on the Indian stock markets with the NIFTY 50 Futures . This is our debut for you all who have been waiting for it! While we know this would enthrall many readers that have been asking for it, we are cautious about jumping on these trades right away - give these models a few days, see how they perform, and then begin to adapt them to your own trading style and risk appetite. And, please do share your feedback, thoughts, ideas, and suggestions about anything glaring or missing - we are new to the Indian markets and are still trying to learn its idiosyncrasies. Thank you! Legend: (i) Use these line crosses on your choice of time frame chart. Most aggressive - on a 1-minute chart Moderate - 5 to 15 minute chart Intraday swing - 30 minute chart Note that the lower your time frame, the more choppiness and whipsawing you might experience in your results. (ii) Cross Above (Below) - triggered when the previous close was below (above) the line and the current close is above (below). Aggressive traders may use other criteria such as high crossing the line, close crossing the line without regard to the previous close, etc. Solid Green Line: Models would go long on a cross above this line Dotted Green Line: Models would close out a short (buy to close an open short but NOT go long). You can use Close-to-Close basis OR Open-to-Close basis OR Low-to-High, depending on your trading style. Solid Red Line: Models would go short on a cross below this line Dotted Red Line: Models would close out a long (sell to close an open buy but NOT go short). You can use Close-to-Close basis OR Open-to-Close basis OR High-to-High, depending on your trading style. This is NOT an investment advice. This is meant for experienced traders to use as another tool to inform and guide their own trading decisions.
NSE:NIFTY
by TradersAIDotCom
R-0086 BUY NIFTY | TARGET: 11,350 | STOP LOSS: 11,100BUY NIFTY | TARGET: 11,350 | STOP LOSS: 11,100 The Nifty index continued to make a higher top and a higher bottom pattern and also achieved our short term target of 11,200. The overall structure is still looking positive as long as it holds its 200-DMA which is placed at 10,865 levels. The momentum indicators and oscillators are very well in the buy mode on the weekly scale which hints that bulls still have the upper hand. The volatility index, IndiaVIX, is hovering near 25 levels which is giving comfort to the bulls. Thus, aggressive traders can initiate a long position with a strict stop loss of 11,100.
NSE:NIFTYLong
by brainmassfinance
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.
NSE:NIFTY
by anmolteja
7
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
NSE:NIFTY
by CodeViser
2
Nifty 50 Intraday Trade Setup for 24th June 2020Good Morning friends, I hope you guys are doing good and making some good money in this bull market. Yesterday was an awesome day and we had made good money from Nifty and Bank Nifty Index. I have got a lot of Questions regarding of this bull rally. Peoples are confused here and do not trust in this bull Run Because of COVID and Indian Economy. Let me clear you one thing Market do not care and follow the economy in the short term. The market has its own Cycle and path. sp stop making the assumption and trade with the Trend. Technically nothing wrong in the Market. Let's talk about today's trade setup. Key Factors ================ 1- SGX trading on 10,445 which is 40 Points low from Previous closing. Might be small gap down or flat opening in Nifty 50 Index. 2- Dow is trading on 26196 which is 0.38% higher than the previous closing. Index taking 26400 as resistance and we can see a correction in upcoming days. 3-European shares rose to a near two-week high on Tuesday, powered by cyclical stocks after the latest economic data 4- 14000 peoples die in India from COVID and patents numbers are increasing daily. 14923 cases registered in last 24 hours. 5-Govt imposes Anti-Dumping Duty on import of Flat-rolled product of steel, plated or coated with an alloy of Aluminium and Zinc, exported from China, Vietnam, and Korea. Duty amount up to $173.10/mt. For five years. 6-securities in the ban for trade date 24 June 2020 century, just-dial, idea 7- Crude Oil is still Strong. 8-India is very likely to come out with another round of fiscal stimulus package, worth about 1 per cent of GDP in the coming months, Fitch Ratings said on Monday. 9-Foreign institutional investors (FIIs) bought shares worth Rs 424.21 crore, while domestic institutional investors (DIIs) sold shares worth Rs 1,287.69 crore in the Indian equity market on June 22, provisional data available on the NSE showed. Technical View ==================== The index is trading in uptrend channel since April 2020. The correct structure of the index is a higher high and higher low. Resistance: Nifty first resistance is on 10,600. The index can make a new high and test 11,000 level on the breakout. Support: Current support sits on 10,000 and the major support is on 9,500 Option Chain ================== Call: Maximum call OI of 36.16 lakh contracts was seen at 10,500 strikes, which will act as crucial resistance in the June series. Put: Maximum put OI of 26.41 lakh contracts was seen at 10,000 strikes, which will act as crucial support in the June series. Trade setup : ================ Long: Open long position if Index breaks 10,500 and sustain above on it. Short: short Position can build lower than 10,400 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
NSE:NIFTY
by CodeViser
2
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
NSE:NIFTY
by CodeViser
9
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 : ===================== 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
NSE:NIFTY
by CodeViser
2
Nifty 50 Intraday Trade Setup for 16 June 2020Good Morning sirs, I hope you guys have done good in yesterday's trading session and made good money there from our Trade setup. Our short Position is lower than 9800 and Index made 9726 low when starting lower than in 9800. Easy 70-80 points in Intraday. We had seen a gap down again and aggressive short-selling till the first trading session. The index is still bullish in Midterm but in 2 last trading sessions shorter take control and index give a good correction.Let's see what is will be our trade setup for today's 16th June Trade setup. First, we focus on key factors which can affect in our Market. Key Factors ================================== 1- SGX nifty Trading Give good recovery after our market and made a new high . Closing is on 9908 which 112 point up from previous close.80-10 Point gap up accpected. 2- India has recorded 3.32 lakh active COVID-19 cases and death Numbers are increasing daily.10000 Covid-19 patient died on Monday. 3-Asian shares stumbled on Monday and oil prices slipped as fears of a second wave of coronavirus infections. 4-India’s industrial production, according to a report by Business Standard, contracted 55.5 percent in April, the sharpest ever, as the COVID-19-induced lockdown almost froze economic activities. The Index of Industrial Production (IIP) had shrunk 18.3 percent in March. 5-Saudi Arabia’s wealth fund Public Investment Fund (PIF) is all set to pick up a 2.33 percent stake in Indian oil-to-telecom conglomerate Reliance Industries’ (RINSE 1.62 %) Jio, for an estimated $1.5 billion, Gulf News reported on Monday citing an unnamed source. 6-US Index Dow and SP recovering. Dow trading on 2616 which is 170 points above from the previous closing. Technical View ============================================= I tried to explain everything on the chart and describe what is a possibility for June and July month. 10,500 is still a crucial area and a major resistance for the Nifty 50 Index. we need to keep an eye on this level if the index sustains above on this range then we can see a new high because our Harmonic ABCD pattern will be active their prz area is on 11000. NIfty has taken channel support on 12th June and give a good rally on Friday trading session. this area is still key support. The level is 9400-9500. Index intraday support. Trade setup ========================== LONG: Wait for 9900 Level and build your long position if Index sustains above on this mark. Short: Short position can build lower than 9700 ote: A trader is always hungry for appreciation. If my view does help you in your trade setup than please like and ask your questions in the comment box. 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
NSE:NIFTY
by CodeViser
10
Nifty 50 Intraday Trade Setup for 15 June 2020Good Morning sir's Hope you guys have made some funs in this weekend. Market Behavior is hard to understand these days. right? Well, It's not if you stop following the news and focus on the technical only. The market is very strong since June 1 and working perfectly as per technical. We are doing mistakes and reading a lot of news for economic crises and corona patient numbers and make the view that the Market will react badly but this is not happening. Is this a Bear Trap? Yes, this is a bear trap and the market is not going to stop until Sjorter views not changed OR until they will not exit. Conclusion: Stop Predicting the market on news bases and trade with the trend. Let's talk about the Key Factor for today's Trade Setup. Key Factor ================================= 1- SGX trading on 9811 which is 175 low from Friday high. 100-150 gap down is possible today. 2-PM met senior ministers and officials to review the situation and instructed them to undertake “emergency planning” in the worst-affected states and urban centers, particularly in the national capital. The review came a day after the Supreme Court rapped the Delhi Govt over the “horrendous, horrific and pathetic” situation in the national capital. 3-FM said no late fee will be levied for delayed filing of GST returns by registered entities with Nil liability between July 2017 to January 2020. 4-PSBs have sanctioned loans worth Rs 29,490.81 crore under the 100% Emergency Credit Line Guarantee Scheme, out of which Rs 14,690.84 crore has already been disbursed. 5-The RBI revised the supervisory framework for financial market infrastructure and retail payment systems. This is owing to the bigger role the payment entities have been playing in the last few years. 6-India's Covid-19 death toll crossed the 9,000 marks on Saturday with a record daily increase making it the world's ninth-worst hit nation in terms of fatalities. The tally of confirmed cases also saw the biggest one-day jump of over 12,000 and reached 311,000. 7-Dow slip again. Trading on 390 Points down from the previous closing. Technical View ==================================== Finally Nifty has filled the gap which is missed 2 times. The first was 30 April and second, we have seen on 1st June. This area is major support now. the range is 9590 to 9690. Look at the chart and we will see that there is nothing wrong and the market follows technical beautifully. Given correction from Harmonic PRZ area and it was a dot reversal and bounce exactly from channel support and from 0.50 fib retracement. 10400 to 10600 is the most important level to watch in the next couple of weeks. If Index sustains above 10600 then there is high chances to make a new high which is 11000-11200. Resistance: Intraday Resistance is on 10000 Mark. The key Resistance area is 10400 to 10600. Support: Intraday Support is lower than in 9820. Trade Setup ============================== Long: Long Position can build from 2 places. The first level is above 10000. If you see a gap down and Index test 9820 to 9850 then risky traders can Open a long Position from this level also Short: Build a short position if the Index breaks Intraday support. Confirmation is lower than in 9800. Note: A trader is always hungry for appreciation. If my view does help you in your trade setup than please like and ask your questions in the comment box. 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
NSE:NIFTY
by CodeViser
10
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 ==================== 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 =================== 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 =================== 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: ==================== 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
NSE:NIFTY
by CodeViser