Niftytrend
#NIFTY Intraday Support and Resistance Levels - 22/08/2024🔔 Nifty Update for Today:
📈 Gap-Up Opening Expected:
Expected Opening Level: Near 24850
Key Bullish Level: 24850
Potential Upside Target: 25000
Nifty is expected to open with a gap up near the 24850 level today. If the index sustains above this level after opening, a strong upside rally could push it towards the 25000 mark during the session.
📉 Watch for Downside Risks:
Critical Reversal Level: 24800
Important Support Level: 24650
However, if Nifty starts trading below 24800, downside movement may be possible. The 24650 level will serve as an important support in today’s session.
Combination of Fibonacci and trend lines and Parallel Channel. We will try to look at Nifty with the combination of Fibonacci, Parallel Channel and Trend lines and few other parameters to get the outlook for short to medium term on Nifty. Combination of various parameters mentioned above indicate that Door For Nifty reaching 26K+ within this year might have already opened. Various resistances on the way will be at 24783, 24874 followed by strong resistance of the previous high of 25078. Once we get a weekly or a monthly closing above 25078 the next resistances will be at 25410, 25839 and finally 26321 (Within this year or within this financial year). Supports for Nifty will be at 24643, 24517, 24324 and finally 24115. Below 24115 the final support for Nifty will be at 23893. Below this level the bull rally will be over and bears can take control of the market.
NIFTY INTRADAY LEVELS FOR 22 AUG 2024BUY ABOVE - 24780
SL - 24740
TARGETS - 24850,24900,24960
SELL BELOW - 24660
SL - 24700
TARGETS - 24600,24530,24460
NO TRADE ZONE - 24660 to 24780
Previous Day High - 24780
Previous Day Low - 24660
Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day.
Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move.
Please NOTE: this levels are for intraday trading only.
Disclaimer - All information on this page is for educational purposes only,
we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made.
Request your support and engagement by liking and commenting & follow to provide encouragement
HAPPY TRADING 👍
NIFTY Podcast 21 Aug 2024Altogether, three trades setup were there today for NIFTY, But I was able to take only the first two.
Notes:
- The third trade was highly risky, as the OI Data was just positive in small numbers, and on the other side BANK NIFTY OI Data was negative.
- Today should've opted for Credit Spread/Debit Spread on the second trade, as there was theta decay in the premium although the expiry is next day
TRITURBINE: Swing Long Idea#TRITURBINE: Is potential Long candidate for swing trade.
1) After a Good up trend paused and created a base, Now price approaching for break our region.
2) High Relative strength Vs #CNX500
3) Good AS Rating
4) Volume picking Up substantially as moving up.
5) Decent Fundamentals
6) Good FII & DII holding
7) Given a Break out and retesting. Buy zone 680 -690 wait for bullish price action around that zone. no overhead supply
8) Expected Target Base depth (162 + 676 = 838)
9) Keep 8% SL
Nifty Shortterm ViewNifty Shortterm View on Daily TF
Looks like Trendline testing is pending on Downside
and if we invert the chart structure , then also i feel taking risk on downside is having better R:R
Even if market breaks Present ATH, this Trendlines are still valid as long as they didnt get validated.
#NIFTY Intraday Support and Resistance Levels - 21/08/2024🔔 Nifty Update for Today:
📈 Gap-Up Opening Expected:
Expected Opening Level: Near 24700
Key Level: 24700
Potential Upside Target: 24850
Nifty is expected to open with a gap up near the 24700 level today. If the index sustains above this level after opening, we could witness a strong upside rally, potentially reaching up to 24850 during the session.
📉 Watch for Downside Risks:
Critical Reversal Level: 24650
Support Level: 24500
However, if Nifty starts trading below 24650, downside movement may occur. The 24500 level will serve as an important support in today’s session.
Gap generated on 5th August Finally Filled today. Gap generated due to gap down opening of 5th August is finally filled today. It is not necessary that all gaps either on the way up or on the way down are filled every time. As there are different type of gaps and different timings of gaps / intervals etc there are many factors which create loop holes in the gap theory. We will discuss that some other time. Gap Theory is a subject in itself. The supports for Nifty now are at 24517, 24324 and finally 24088. Resistances for Nifty in the short to medium term are at 24736, 24857, 24950 and 25080.
Plan for 21st August 2024Nifty future and banknifty future analysis and intraday plan in kannada.
Swing ideas included.
This video is for information/education purpose only. you are 100% responsible for any actions you take by reading/viewing this post.
please consult your financial advisor before taking any action.
----Vinaykumar hiremath, CMT
NIFTY INTRADAY LEVELS FOR 21/08/2024BUY ABOVE - 24730
SL - 24660
TARGETS - 24780,24850,24900
SELL BELOW - 24660
SL - 24730
TARGETS - 24600,24530,24460
NO TRADE ZONE - 24660 to 24730
Previous Day High - 24730
Previous Day Low - 24600
Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day.
Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move.
Please NOTE: this levels are for intraday trading only.
Disclaimer - All information on this page is for educational purposes only,
we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made.
Request your support and engagement by liking and commenting & follow to provide encouragement
HAPPY TRADING 👍
NIFTY INTRADAY LEVELS FOR 20/08/2024BUY ABOVE - 24600
SL - 24530
TARGETS - 24660,24710,24780
SELL BELOW - 24530
SL - 24600
TARGETS - 24460,24380,24320
NO TRADE ZONE - 24530 to 24600
Previous Day High - 24660
Previous Day Low - 24530
Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day.
Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move.
Please NOTE: this levels are for intraday trading only.
Disclaimer - All information on this page is for educational purposes only,
we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made.
Request your support and engagement by liking and commenting & follow to provide encouragement
HAPPY TRADING 👍