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Niftytrend

Riding the Correction: Unlocking NIFTY’s Next Chapter!Dear Traders, I hope this message finds you well in your trading endeavors and personal pursuits. I am excited to share a compelling opportunity with you through a new NIFTY analysis that sheds light on the continuation of the market shift. The recent upward movement & the following correction in the market have unfolded as anticipated. Over the past two months, my analysis has consistently pointed to an expected correction due to market overvaluation and distinct completion patterns. Technical Analysis Overview: There are three potential scenarios for the ongoing trend, ranked based on their likelihood of occurring. Scenario I: The move initiated from 20 MAR’23 – 27 SEPT’24 (16,828.35 – 26277.35) has spanned over 80 weeks (18M) and indicates a significant completion of wave patterns, suggesting an imminent correction. See the visual representation of the trend lines and corresponding fib retracement levels here: The correlation between static supports can be observed around 23,893.70 and 21,181.45. This correction is expected to be visible within a 3-month timeframe. Potential support levels include S – I: 24,893 ~ 24,753 ~ 24,430 levels, S – II: 24,050 ~24,000 levels and S – III: 23,683 levels. *These values are not actual but just levels The correction might extend to deeper levels (22,664 & 21,550) as the market progresses. Time resistances are anticipated on 09th OCT, 17th OCT, and 30th OCT for all probable scenarios. --------------- Scenario II: The move from 26 OCT’23 – 27 SEPT’24 (18,837.85 – 26,277.35) has completed mid-way and is expected to continue after this correction, potentially reaching unprecedented levels. Find the visual representation of this move with trend lines & fib retracements here: The range of this move is limited to the monthly timeframe, indicating the completion of 1 year from the start of this sub-trend. Potential support levels include, S – I: 24,525 ~ 24,378 levels, S – II: 23,900 ~ 23,893.70 levels and S – III: 23,450 levels. --------------- Scenario III: The move from 04 JUN’24 – 27 SEPT’24 (21,121.45 – 26,277.35) has almost completed its half journey and is facing a correction before extending its uptrend by a few more waves. While this scenario has the lowest probability compared to the others, it is essential to consider its potential impact on the current trend. The pictorial representation can be seen here: Further details are not added as the market actions till now does not validate this probability. --------------- Other Influential Factors: Geo-political tensions and concerns regarding escalation have historically preceded corrections prior to the US presidential elections, indicating a prevailing bearish sentiment. Tensions in the Middle East have also contributed to the market plunge, albeit not solely responsible for it. Additionally, the FED's likely rate cuts have been influenced by the upcoming US elections, and SEBI's regulatory actions aim to curb over-optimism and maintain market neutrality. Important Dates to Remember: Mark your calendars for OCT 9th (RBI interest rate decision @ 10AM) and OCT 10th (US inflation reports). --------------- Final Verdict: While the scenarios are meticulously laid out, the selection of the valid scenario remains a work in progress. We are eagerly awaiting further cues from the market and will provide updates as they unfold. However, one thing remains certain – the current trend has reversed (at least for the mentioned time frames). Therefore, adopting a bearish stance could prove to be profitable. --------------- Strategy: Considering the current market conditions, adopting a bearish stance seems prudent, especially levels around 24,450 ~ 24,000 are to be tested. Keep a close watch on the market and stay informed for potential opportunities. Disclaimer: Before concluding, I must underscore that the insights shared are based on my analysis. It is imperative for you to conduct your research and, if necessary, consult with a financial advisor before making any trading decisions. The dynamic nature of financial markets necessitates that your strategies align with your financial goals and risk tolerance. Fellow Traders, Countless hours of dedication and effort have gone into creating this valuable analytical resource. If you find it useful, I humbly ask for your support by boosting the idea and following me (updates will be made via this post, new post & through minds) . Your comments and thoughts on this idea are highly valued, and I am committed to engaging with each one personally. Thank you for investing your time in reading this article, Your readership is greatly appreciated. Wishing you profitable and joyful trading!!!
NSE:NIFTYShort
by WDG_Dinesh_Gengarajan
NIFTY : Trading Levels and Plan for 08-Nov-2024Previous Day’s Chart Overview: On 07-Nov-2024, Nifty displayed a bearish movement with opening tick , with a clear consolidation phase after the breaking mentioned support zone. The chart highlights significant levels for both support and resistance that are likely to influence price movements on 08-Nov. The Yellow trend represents the sideways movement, the Green trend indicates a bullish scenario, and the Red trend shows potential bearish paths. --- Trading Plan for 08-Nov-2024 Gap Up Opening (100+ points): If Nifty opens above 24,358.00 (Opening Resistance) and holds, look for buying opportunities on pullbacks near this level. A sustained move above could target 24,460.00 , the next intraday resistance. Should Nifty face resistance near 24,460.00 and fail to break above, consider short opportunities for a quick pullback to 24,358.00. Watch for a potential breakout above 24,460.00 which could trigger a move towards the 24,643.00 – 24,714.00 zone, where sideways resistance may impact the uptrend. Book profits or trail stops in this range. Flat Opening (within ±50 points): If Nifty opens near 24,190.60 and finds support above 24,174.95 (Opening Support) , consider long positions targeting 24,358.00 (Opening Resistance) . A failure to hold 24,174.95 could signal weakness; watch for a potential test of 24,106.25 (Best Buying Level) , a strong support level for intraday buyers. If Nifty consolidates between 24,174.95 and 24,106.25, remain cautious with small trades until a clear breakout or breakdown occurs. Gap Down Opening (100+ points): If Nifty opens near or below 24,106.25 (Best Buying Level) , observe if it finds support. A strong buying interest here could provide an opportunity to target the 24,174.95 - 24,190.60 zone. A breakdown below 24,106.25 may lead to a bearish trend toward 23,970.00 , the next critical support level. Traders can consider short positions here with strict stop-losses. If Nifty tests and breaks below 23,970.00 , the next “Do or Die” level for buyers is at 23,700.00 , where a trend reversal may occur if supported by volume. Risk Management Tips for Options Trading: Always use stop-loss orders, especially when trading near resistance and support levels. Limit your position size to a maximum of 2-3% of your total capital to manage risk efficiently. For option trades, consider hedging strategies such as spreads or using out-of-the-money options to minimize premium risks in volatile markets. Summary & Conclusion: Tomorrow’s market could present significant trading opportunities given the current setup, especially around key support and resistance zones. Be cautious near the “Do or Die” level for buyers at 23,700.00, as it may lead to a trend reversal. Focus on risk management to protect capital in volatile conditions. --- Disclaimer: I am not a SEBI-registered analyst. This analysis is for educational purposes only and should not be considered as investment advice. Please consult a financial advisor before making trading decisions.
NSE:NIFTYShort
by LiveTradingBox
Nifty unable to break Hourly Channel top corrects. Nifty had reached channel top of the downward channel on hourly chart and was clearly not able to defeat it as evident in the chart and corrected wiping all the gains from yesterday's trump rally. Can it make one more effort to claim the channel top and defeat it is the question. Supports for Nifty remain at 24179, 24073 and 23816. Below 23816 the bears will feel empowered and can drag Nifty down to 23500 or 23200 levels. Resistances on the upper side remain at 24262 (Mother line resistance of 50 hours EMA), 24504, 24559 and finally father line of 200 Hour EMA at 24650. This will remain a volatile week with major shift in global policies and realignments, FED Rate decision and other Geopolitical events. Keep an eye on situation in the Middle East and Ukraine, Russia front. Positive news will have again empower bears and give another rally like Trump rally seen yesterday. Shadow of the candles is Neutral to negative again. Bond yield, Gold, Silver, Dollar index, Crude can remain volatile while NASDAQ and Dow are in the Optimistic curve. November month will in general will remain volatile and next one week will decide the fate of Indian markets. With FIIs still on selling side and DII on buying side looks like things will remain topsy turvy for Indian markets. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only and views are personal. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
NIFTY : Trading Levels and Plan for 07-Nov-2024Trading Plan for Nifty - 07-Nov-2024 Intro: On the previous trading day, Nifty displayed a strong bullish movement, trading near resistance zones and showing signs of potential reversals. The key levels for today's session include the profit booking zone at 24,841 , opening resistance at 24,583 , and opening support around 24,407 . The chart’s yellow trend lines indicate potential sideways movement, green represents bullish scenarios, and red highlights bearish trends. Opening Scenarios: Gap Up Opening (100+ Points Above): If Nifty opens with a gap up above 24,583 , closely monitor price action around the 24,781 - 24,841 profit booking zone. A strong breakout above 24,841 could indicate further bullish momentum, creating an opportunity for long entries with a stop-loss below 24,583 . However, if resistance at this level holds, expect a retracement towards 24,583 . This can signal a potential reversal, allowing for short trades targeting the opening support near 24,407 . Flat Opening: If Nifty opens near 24,493 , focus on the levels at 24,583 (opening resistance) and 24,407 (opening support). Observe these zones for directional clues: A move above 24,583 could test the profit booking area ( 24,781 - 24,841 ), creating a favorable long opportunity. A rejection at 24,583 could suggest a sideways trend between 24,583 and 24,407 . In this range-bound scenario, consider small scalp trades with defined stop-losses. Breaking below 24,407 may drive the index lower, with a potential target at 24,273 (buyer’s support at retracement). Gap Down Opening (100+ Points Below): If Nifty opens below 24,407 , look for support around 24,273 . A bounce from this level may provide an opportunity for a quick recovery trade towards 24,407 . Should 24,273 fail to hold, bearish pressure could take Nifty towards 24,160 or even the last buyer's support at 24,108 . This scenario would favor short positions with stop-losses above immediate resistance. If Nifty rebounds above 24,407 post-gap down, look for a potential pullback rally targeting 24,583 . Risk Management Tips for Options Trading: Define stop-loss levels based on critical support/resistance areas ( 24,583 , 24,407 , 24,273 ) to limit risk. Avoid aggressive trades during high volatility; keep position sizes manageable. Use hedged strategies, such as spreads, to control premium outlay and reduce risk. Continuously trail stop-losses in favor of the trend to secure partial profits. Summary and Conclusion: The main levels to watch for Nifty on 07-Nov-2024 are 24,583 (opening resistance), 24,407 (opening support), and 24,273 (buyer’s support). Stay vigilant around these areas to capture potential breakout or reversal trades, and adhere to disciplined risk management in options trading to safeguard against volatility. Disclaimer: I am not a SEBI-registered analyst. This analysis is based on technical observations and personal insights. Please perform your due diligence or consult with a financial advisor before taking any trading actions.
NSE:NIFTYLong
by LiveTradingBox
Most Global Markets Welcome Donald TrumpMarkets breathed a sigh of relief it seems on the victory of Donald Trump and rallied crossing important trend line hurdle. Now 2 important resistance remain to be conquered before Bulls can claim victory over bears. The next likely resistance levels that bulls will face will be at 24537 and Mother line resistance at 24748. (50 days EMA). Once that is crossed the next likely resistance will be at 25000 and 25217. Supports for Nifty on the lower side seem to be at 24333, 24170, 23816 and finally Father line at 23519 (200 days EMA). Below 23519 in unlikely circumstances the Nifty will fall again in Bear clutch and bear can potentially drag it down to 23201 or 22820. (currently this looks unlikely). Shadow of the candle right now is neutral to positive.
NSE:NIFTYLong
by Happy_Candles_Investment
NIFTY Soars Higher – All Eyes on Key Targets on RisologicalNIFTY Index Analysis: NIFTY’s long trade setup on the 15-minute timeframe has already hit TP1 at 24,403.10. With positive momentum, we are now looking for it to reach the next targets, with TP2, TP3, and TP4 firmly in sight. NIFTY Key Levels: Entry: 24,178.95 Stop Loss (SL): 23,997.55 NIFTY Targets: TP1: 24,403.10 (Achieved) TP2: 24,765.90 TP3: 25,128.65 TP4: 25,352.85 Technical Indicator Confirmation: The Risological Dotted Trendline continues to show a bullish trend, supporting further upward movement towards TP2 and beyond. With TP1 already achieved, NIFTY traders should stay alert as we anticipate further gains towards the remaining targets. Watch closely for potential breakthroughs at each level!
NSE:NIFTYLong
by ProfitsNinja
Nifty Set for an Uptrend Soon..?The NIFTY index has been experiencing a consistent downtrend over the past month. Throughout this period, it has encountered rejection from the established trendline approximately five to six times, indicating strong resistance at that level. For NIFTY to initiate a reversal and shift to an upward trend, it is essential for the index to not only break through the trendline but also to maintain a position above it for a sustained period. Moreover, the level identified as 24150 is not only a crucial support level but also serves as a significant support range that has been tested during July and August. Therefore, if the price can hold steady at the 24150 level for a few more days, combined with a decrease in selling pressure from Foreign Institutional Investors (FIIs), we may witness the formation of a new upward trend. This convergence of factors could provide the necessary momentum for a trend reversal in NIFTY.
NSE:NIFTY
by Kartik_Elkunchwar
NIFTY : Trading Levels and Plan for 06-Nov-2024**Trading Plan for NIFTY on 06-Nov-2024** Intro: In the previous trading session, NIFTY showed a bullish momentum from the important levels highlighted in yesterday's Trading plan. The chart indicated multiple resistance and support levels, with specific zones highlighted for different scenarios. Yellow lines represent potential sideways movement, green lines indicate a bullish trend, and red lines signify a bearish trend. Observing the market's opening tomorrow in relation to these levels will guide the trading approach. --- Trading Plan Scenarios: For 06-Nov-2024, here are trading strategies for various opening scenarios: Gap Up Opening (100+ Points): If NIFTY opens with a significant gap up above 24350 (Opening Resistance), watch for signs of strength to sustain above this level. - If it holds above 24350 , wait for a breakout confirmation before entering a long position. Target levels would be 24581 and 24682 , keeping in mind the Last Resistance for Intraday. - If it fails to sustain above 24350 , be cautious of a pullback towards the Opening Support at 24156 . - Watch for sideways movement (yellow trend) if NIFTY consolidates between 24350 and 24156 . Avoid trades during this sideways movement unless a clear direction emerges. Flat Opening Near 24156 - 24144 Zone: If NIFTY opens flat around the Opening Support levels, monitor the price action closely. - A quick rejection from 24156 could indicate a reversal opportunity towards 24350 (Opening Resistance). Enter long if the price breaks above and sustains. - In case of a breakdown below 24144 , NIFTY may test the lower support at 24020 . Consider short trades if there’s a clear break below this level, aiming for the "Best Buy Zone" near 23725 . - Keep an eye on sideways movement in this range. Avoid trades if the trend remains unclear within this zone. Gap Down Opening (100+ Points): If NIFTY opens with a significant gap down, near or below the "Buyer's Support at Retracement" at 24020 , trade cautiously. - If NIFTY shows buying interest around 24020 , it may present a buying opportunity, targeting 24156 as a recovery level. - If the gap down leads to a breakdown below 24020 , watch for support around 23725 and 23579 in the "Best Buy Zone". Enter short if the bearish trend persists. - Avoid early entries without confirmation of direction, as a gap down could lead to volatility. Use strict stop-loss levels. --- Risk Management Tips for Options Trading: - Stick to defined entry and exit points based on these levels and trends to avoid chasing price. - For long positions, consider buying at-the-money calls if the price breaks resistance levels or sustains a bullish trend. - For short positions, consider buying at-the-money puts near resistance rejections or if NIFTY trends down after a gap down opening. - Use stop-loss orders consistently to manage potential losses. Avoid doubling down on losing positions in highly volatile market conditions. --- Summary & Conclusion: Focus on these key levels to navigate the trading day effectively. Monitor the price reaction to opening levels, as it will guide trade direction. Sideways movement could indicate a consolidating market, while breaks above or below specified zones may present entry opportunities. Disclaimer: I am not a SEBI registered analyst. This analysis is for educational purposes only. Trade at your own risk and consult with a certified professional before making any trading decisions.
NSE:NIFTY
by LiveTradingBox
Nifty Analysis: How much more pain left? Where is the bottom?Nifty Analysis: 1) Today's low 23816 is very important level to watch. 2) Next support at 23502 (Father Line or 200 days EMA). 3) Final Major support near 23201(Trend line meeting point and 50 weeks EMA (Major Mother Line). 4) Closing below 23201 has potential to break the hell loose. 5) Resistance on the upside at 24145, 24320, 24506 and 24781 (50 days EMA-Mother Line). 6) Bulls can take control only after we get a closing above 24781. To know more about stop losses, trailing stop losses, Profit booking and investment, financial awareness in general, process of investment in Equity or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Many People who have read it consider it as hand book and perfect guide to equity investment. You can read reviews of the book or purchase the same from Amazon. The book is available on Amazon in Kindle and paperback version. I am sure you are going to find it of massive use. Once you have read the book, I assure you that you will become a next level investor. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
NIFTY : Trading Plan and Levels for 05-Nov-2024On 04-Nov-2024, Nifty showcased a strong downward trend followed by some consolidation. The session closed near 23,990, with critical support levels between 23,725 and 23,579, indicating a potential for a bounce in the coming session. Resistance is seen at 24,021, with a significant zone near 24,163. The Yellow trend indicates potential sideways movement, while the Green trend shows bullish prospects and the Red trend represents a bearish path. Trading Plan for 05-Nov-2024: Gap Up Opening (100+ points): If Nifty opens with a 100+ point gap-up above 24,021, we could see a bullish move towards 24,163 (Intraday resistance). It’s essential to watch if prices sustain above this zone, as crossing this level could target the last intraday resistance of 24,319. If Nifty fails to sustain above 24,163, expect a sideways move back towards 24,021. Traders should exercise caution here as any rejection from higher levels might signal a potential reversal. Actionable Plan: Buy on a sustained move above 24,163, with a target of 24,319. Stop Loss: Below 24,021 on a 15-minute candle close. Flat Opening: If Nifty opens flat around 23,990, the focus will be on the reaction near 24,021 (opening support/resistance). A clear breakout above this level could push Nifty into a bullish zone, aiming for 24,163 and beyond. However, failure to break this level will lead to a sideways consolidation (Yellow trend) or a possible retest of lower supports near 23,725. Actionable Plan: Buy on breakout above 24,021, targeting 24,163. Sell below 23,953, with a target towards 23,725. Stop Loss: Place tight stop losses at 23,990. Gap Down Opening (100+ points): If Nifty opens with a gap-down near 23,725 or below, the Best Buy Zone comes into play. Watch for bullish price action around this support level. Any strong bounce from here could lead to a recovery back to 23,953 or higher. In case Nifty fails to hold 23,725, a further decline towards 23,579 could be on the cards, with a potential for a deeper correction. Actionable Plan: Buy near 23,725 with a target of 23,953. Sell below 23,725, aiming for 23,579. Stop Loss: Below 23,725 on a 15-minute candle close. Risk Management Tips for Options Trading: Always use strict stop losses, especially on volatile days. Avoid holding positions overnight unless there’s a strong directional bias. For options traders, consider entering at-the-money or slightly out-of-the-money options to benefit from quick price moves while managing risk. Summary and Conclusion: The key levels for 05-Nov-2024 are 24,021 for intraday resistance and 23,725 for strong support. A gap-up or flat opening should be monitored closely for breakouts above these resistance levels. A gap-down could provide an excellent buying opportunity near 23,725. Traders should stay cautious and respect the support/resistance zones, waiting for confirmation before taking trades. Disclaimer: I am not a SEBI-registered analyst. This trading plan is purely based on technical analysis and psychological theories. Please consult with your financial advisor before making any trading decisions.
NSE:NIFTYLong
by LiveTradingBox
NIFTY : Trading Levels and Plan for 04-Nov-2024Intro for Previous Day's Chart Pattern: In the previous two session, Nifty demonstrated a balanced movement with multiple attempts to break the support and resistance zones, suggesting potential consolidation. The chart highlights key areas where demand and supply forces are likely to react. Yellow trend indicates Sideways movement, Green trend shows a Bullish trend, and Red represents a Bearish trend. --- Trading Plan for 04-Nov-2024: Opening Scenarios: Gap Up Opening (100+ points): If Nifty opens with a significant gap up around 24,489 or higher: - Watch for resistance near the ChCoCh Zone (Change of Character) at 24,489-24,533. If Nifty sustains above 24,533, it could indicate strong bullish momentum towards the 24,616 zone, marked as the “Last Intraday Resistance.” - In case of a rejection from 24,489, wait for confirmation before initiating short trades, as prices may retest lower support levels. - For conservative traders, it’s advisable to wait for a retracement back toward 24,286-24,265 levels before considering long entries. Flat Opening: If Nifty opens flat around 24,300: - Focus on the immediate support level at 24,286. A successful defense of this support could trigger a bounce towards the 24,489-24,533 resistance area. - If prices struggle to break through 24,286, look for opportunities to enter long trades near the “No Trading Zone” at 24,163. - For intraday shorts, wait for bearish signals near 24,533 or if Nifty falls below 24,265, targeting the lower support at 24,020. Gap Down Opening (100+ points): If Nifty opens with a gap down around 24,163 or lower: - Monitor the support levels at 24,020 and 23,958. These zones represent “Last Buyer’s Support for Intraday.” A break below 23,958 may trigger further downside pressure towards lower levels. - If 24,020 holds, it could offer a buying opportunity with a potential target toward 24,286. - For intraday trades, be cautious of volatility and await clear price action before entering positions, especially in gap-down scenarios. --- Risk Management Tips for Options Trading: - Limit your position sizes and keep a strict stop-loss in volatile conditions, especially post-Diwali. - Monitor implied volatility as it can affect options premium significantly during high volatility sessions. - Avoid chasing options trades if premiums have already inflated substantially post-market opening. - Stay cautious around key levels to avoid whipsaws and consider taking partial exits at defined target levels to lock in profits. --- Summary and Conclusion: The 04-Nov-2024 session may witness reactions at critical support and resistance zones, presenting opportunities for both intraday and swing traders. Wait for a clear break of levels to confirm direction. Sideways consolidation could occur near the mid-range, so be prepared for both trend-following and range-bound strategies. Disclaimer: I am not a SEBI-registered analyst. This trading plan is shared purely for educational purposes. Please conduct your analysis or consult a financial advisor before making any trading decisions.
NSE:NIFTYLong
by LiveTradingBox
Mother Line, Trend line and other resistnace up ahead to watch.Before Nifty can fly further there are some important resistances to be crossed in the near by zone are 24368 that is the high of Muhurat day, Mother line resistance at 24391, Trend line resistance near 24400. After closing above 24400, Nifty can quickly reach 24505 or even 24601 in a short time. Supports for Nifty are at 24280, 24239, 24172 and 24142. Final support for Nifty is in the range of 24069 below which bears can create further havoc. Shadow of the candle is slightly positive but FII's deep selling is making the investors vary and fearful this does not include DIIs as of now but below certain level even they can start to give in if things do not improve. Shadow of the candle is slightly positive.
NSE:NIFTY
by Happy_Candles_Investment
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