Nifty Levels 19 MayLet the market come to these levels and observe it it is forming any range. Take trade as per your risk.
Niftytradesetup
Nifty : 19.5.23 - low risk trade1HR chart :
- Fib 61.8 retest
- W pattern, price at base
- Bollinger band outside-inside
- RSI divergence
Sell volume lower than yesterday
Resistance : 18300
Support : 18150
NIFTY--Expiry Levels @18160-18340------->>Price is clearly broken the support @18200 level strongly.
-------->> we have a previous resistances @18340 and @18260 levels failed to act as support, witnessed that more selling pressure is observed.
--------->> now price wants to test which level,18260 level where a strong gap down occurs previously.
---------->> This will again act as resistance, but while breaking 18260 level price leaves a supply zone in the range 18340-18360 range, so today price will test these 2 zones.
Key level of support: 18060 and 17960 levels.
Note:: Expiry will close in the range 18160-18340 Range.
Keep track these levels.
#MRF Looking good 18.05.23#MRF.. ✅▶️
Intraday as well as swing trade
All levels given in charts ...
IF good potential seen then we work in options also
if activate then possible a huge movement Keep eye on this ...
We take trade only when it activates...
Possible to give good target
TRADING FACTS
Nifty level for 18 mayNifty lower level is 18000 and upper level 18400.
Until Nifty break 18000 in lower side the trend will be positive.
Nifty 50 Sell MoveThe NIFTY 50 is a benchmark Indian stock market index that represents the weighted average of 50 of the largest Indian companies listed on the National Stock Exchange. Nifty 50 is owned and managed by NSE Indices, which is a wholly owned subsidiary of the NSE Strategic Investment Corporation Limited. NSE:NIFTY
NIFTY--Head and Shoulders Pattern ??Observations::
Left shoulder @18340
Head @ 18400
Right Shoulder @18340
and Neckline is observed at 18200,if price breaks neckline we will observe a strong fall towards 18120,18060 levels.
---------->> we have gap left @ 18060 level, price may goes up again from here. this level will push the price upwards again.
---------->> Be careful at 17960 and 18060 levels.
Nifty preceisely stopped at the indicated resistances yesterday.What was depicted yesterday was very similar to what happened. Channel top proved to be a tough resistance to conquer and Nifty today rested just above mid channel line at18286.50 We had very accurately indicated the support at 18284. This is as precise as you can get with Technicals😌😊.
Now What?
We have this support or the next support at 18267. If 18267 is taken down we can further fall to 18190 or 18140. (Next support levels.).
You can also see in the previous and current chart that invariably Mid channel line has proven to be support and NIFTY has bounced from here 4 times previously. So Let us hope we get a support from mid channel line and we can bounce from here. If we bounce from here next resistance will be 18340 and 18384. Interesting day tomorrow to see in which direction the NIFTY goes.
Nifty Nifty is forming rising wedge on 4HR and can see some retracement from current levels, if you are long then its the time to move your sl as per your RR strategy
Nifty 15 May 23 to 19 May 23 Short ,Medium and Long TermNifty 15 May 23 to 19 May 23 Short ,Medium and Long Term
Nifty closed at 18314 ( 18069) and touched low of 18100.
Nifty touched high of 18389.
Mainly followed the band resistance provided for last two weeks ( as mentioned below) and 3-4 days the resistance acted as support.
Nifty support at 18111/18204/18274 ( Prev Highs Shown in thick red , blue and green horizontal lines)
RSI ,MACD and Stochastic are at 69%, 210 and 92%
KN Election results will play small setback in the indices, might drop to the the support level provided in the coming week in initial trading sessions.
However after small consolidation it will again try to attempt to surpass 18465/ 18600 /18900 in the Medium term.
Nifty- short term is Neutral to Long.
Need to decisively close above 18274 to reach targets ext target at 18437/18465 ( fibonacci resitances) .
Nifty support at 18111/18204/18274
Buy on Dip
Nifty Medium Term -
Nifty need to break decisively above first target 18274 to reach next target of 18437 ( Fibonacci 0.786 Retracement)/ 18640/ followed by prev high 18890.
Nifty have multiple support for Medium Term - 17865/17741 ( Previous Highs) and 17560 ( April Low)
Below that 17387- 17340/ 17252
Long term-
Need to decisively close above 18890 ( Previous Dec22 High) to reach targets of 19000/19500/20000
17208/17180//17000
long term support at 16746 ( Sep22 Low)
Long term Investors can accumulate following Mutual Funds
NIFTY 50 Equal weight
Bank Nifty
Nifty IT (Buy on dip)
What can happen next for Nifty?If you see the chart of Nifty, you will realize that The reason why Nifty rejects from 18350 is that it is now away from the daily trend line, so once again Nifty takes the support of the daily trend line and goes up.
Nifty Price Forecast for May and JuneNifty Price Forecast for May and June, July.
Note: Only if Nifty price does not hold above 18350 to confirm this prediction.
NIFTY-Trendline-Retest-Gap Down ??Observations::
GAP DOWN opens
---------->> Price broken the trendline and observed a strong fall, and retest is observed at trendline @18340 levels.
---------->> Previous supply zone @18200 level resist the price to go down.
If tomorrow price breaks this level, we will observe a strong fall towards 18120,18060 levels.
if price again breaks 18200 levels, 18120 level acts as a pullback to 18200 level, at this level previously strong sell off is observed, here
(18200-18120) if again strong push to the down side happens price falls below 18060,up to 17960 levels.
---------->> we have an untested demand zone @17960 will push the price upwards again.
---------->> Be careful at (18200-18120) and 18060 levels.
[{NIFTY TO FALL FOR 2.21% or 400 points}]
Price has formed a Fresh Weekly Demand and should retrace into it for a pullback, therefore this is a counter trend trade, but with a favourable Reward to Risk Ratio.
We have a selling confirmation in Daily and this is a positional Trade in the downward direction should take 15 days to reach the Target.
ENJOY THE RIDE ! ! !
12/05/2023 NIFTY SUPPORT AND RESISTANCE ZONEAfter 2 weeks nifty now trade under the range zone . right time to enter for short
NIFTY--Breakdown happens ??Observations::
---------->>Price opened gap up and observed a strong fall + consolidation.
---------->> Previous supply zone (gap down) range @18260 level resist the price to go down .
If tomorrow price breaks this level, we will observe a strong fall towards 18200,18120 levels.
if price again breaks 18180 levels, 18120 level acts as a pullback to 18180 level, at this level previously strong sell off is observed, here
(18200-18120) if again strong push to the down side happens price falls below 18060,up to 17960 levels.
---------->> we have an untested demand zone @17960 will push the price upwards again.
---------->> Be careful at (18200-18120) and 17960 levels.
.
Nifty levels for 12 MayToday market was in a consolidation face.
There is no exact direction of market, on the above side 18400 is major resistance and below 18200 is support.
Nifty 50 Index Next MovePair : Nifty 50 Index
Description :
Bearish Channel as an Corrective Pattern in Long Time Frame with the Breakout of the Upper Trend Line and Retracement
Divergence - RSI
Break of Structure
Completed " 12345 " Impulsive Wave and " ABC " Corrective Wave
SMC - CHOCH
Fibonacci Level - 78.60%
NIFTY--Fall Below 18260 levels (Expiry)??Observations::
---->> After gap up NIFTY clearly showing bearish pressure towards 18200 levels, if again price goes below 18260 levels, we will go for selling up to 18200,18120,18060 levels.
------->> If any one of these levels acts support price will again goes upside.
-------->> Wait for more confirmation at 18200-18180 range to break and pullback to 18260 or 18220 levels.
-------->> Above we have a resistance @ 18380-18400 range.
Nifty lavel for 11 MayFor tomorrow levels are difficult because it's totally depend on the inflation data of USA which is coming today night. According to USA inflation data market with decide the direction tomorrow.
