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Niftytrendanalysis

NIFTY--Trend Resumes or Reversal ??Observations:: In higher time frames nifty is still in uptrend...if its continue or reversal will see in live. price created a demand zone @19380-19340 range.... today price has taken the demand zone entry and moved up...no short side momentum is given for us. A multiple breaks to the upside is observed from this zone.... until price breaks this demand zone...don't think of short side. keep on buy side. when price tested this demand again, and failed to create a new high, then will see the plan of sell action. will update once it is reversed. All these analysis is post market analysis...live market is entirely different from post market analysis.. will see on live market what happens...
NSE:NIFTY
by IIT-Trader
NIFTY--Trending Expiry ViewObservations:: price is exactly closed in the supply zone....where price strongly fall from these levels. we have to wait before sell... price is again fall below,19410 level,and this level has to reject for more fall. yesterday price broken the trendline and retested...now we have to check fall happens are not. the area of value at 19380 level will push the price up...to test the supply one more time... be on the bearish side from these levels... On bottom side price tested the demand zone at 19340,today it will not respect it gives us pullback or break may happens and retest will come. So will enter for short for targets of 19300 and 19260 levels. If price wants to go up, it has to break and retest of supply and then only bullish... fake out will also be happens at this level. Keep track this level...key level 19410 level.
NSE:NIFTYShort
by IIT-Trader
Nifty Trend in the month of June 1. On the Daily chart since March, there has been an ascending channel trend in the nifty. 2. On the 4HR chart, Ascending Broadening Wedge 3. Now the Market has reached the ATH trajectory, there is a consolidation happening in the form of a parallel channel, this sort of price action depicts indecision behavior. this is expected at an All-time High level. The next 10 days will unfold more clarity on chart pattern & sentiment. In conclusion, a Large timeframe shows bullish sentiment & shorter there is indecision.
NSE:NIFTY1!
by OK_Rane
Nifty Trade Setup (30-May-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal. So today market was sideways with 60 points movement only. Market for only scalpers not for trend followers it was expected as there was big gap up opening and when there is big gap opening do expect sideways price action. As posted yesterday that from price action on 1 Day TF price is moving in rising wedge and today it opened above both horizontal resistances mentioned on chart. (Unable to post yesterday chart i.e. 29-May-2023 due to basic member) Now as gap opening and positive global markets and positive earnings from major companies. This gap might act as good support zone which become flip zone (Resistance turned to Support) Not Expecting any gap downs but still to need as backup plan i will always try to plan my trade setup based on if price opens flat, gap up or gap down. For tomorrow this will be my trade setup: 1.) If opens flat and will wait for break of the Resistance zone of 60 points which formed today with resistance at 18641 and support at 18580. if it breaks one above then i will look for buying opportunities for target of rising wedge trendline 18670 to 18680. 2.) If opens gap up the will wait to form price action or any rejections from rising wedge trendline for target for todays resistance (18641) 3.) If open gap down and today's support of 18580 becomes resistance then will look for shorting for target of 18560,18510. Hit like to keep me motivated for keeping my trading journal as it only take less then few seconds to hit like but it gives me motivation for preparing for my session. Also one can comment on how I can make this trade journal better any improvements I need in it :) .
NSE:NIFTY
by TradeInsights
Nifty50 Short (Update)This is second update to Nifty50 Swing Short I Posted couple of weeks ago. Short is now considered a success with almost 2% move down from the entry, which falls in line with original analysis where we were waiting for break of wedges in USD/INR pair and Nifty50. and we have gotten that now. Now there is a possibility that the USD/INR pair tests the wedge which can lead to bounce in Nifty which is also evident in Nifty chart with a reclaim of the white line at 18158. So, I suggest a TP here and moving Stop loss to entry or to slightly above the top at 18500 in case you want to hold it for longer term for swing scenario. I have attached links to the original posts down below and DXY analysis which ties into breakout of the USD/INR pair. Please go through them to understand the context of the short.
NShort
by zakoraio
NIFTY--Supply acts as Demand@18260??Observations:: --------->> Yesterday price tested the level @18260 level where a strong gap down occurs previously, and again falls back to below 18200 levels. ---------->> we have one more resistance @ 18340 level, if price breaks this level will observe again bullish momentum towards 18450 levels, careful at this level. If facing resistance @18340 levels and 18260 level or 18200 level acts as support more bullishness is observed. Supply Acts as Demand@18260 level. keep track this levels. Key level of support: 18060 and 17960 levels. ---------------------------------------------------------------------------------------------------------------------------------
NSE:NIFTY
by IIT-Trader
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. .
NSE:NIFTY
by IIT-Trader
NIFTY-Today bullish move created to exit the long positions??Observations: -------->>Nifty trending upwards, today it proves that it's a retracement not a reversal sign. -------->> Again showing bullish movement in nifty, witnessed buyers are still in control. today bullish move created to exit the long positions?? why don't we think sooo.... -------->>We suspect that if it is a false breakout in nifty above 18260 level , this time the fall will be below 18060 levels. -------->> At this point 18250 level, sellers are exists by showing a huge gap down , why don't we think of sellers may again push the price towards downside. --------->> If we consider these 2 levels, 18200 or 18100 they are not strong enough to push the price higher, so if price started falling it may clear all these levels, and we have an untested demand zone@17960 levels. NOTE: Is this false breakout above 18260. NIFTY- which level Holds 18200 or 18100 ??
NSE:NIFTY
by IIT-Trader
1
Nifty 08 May 23 to 12 May 23 Short ,Medium and Long TermNifty 08 May 23 to 12 May 23 Short ,Medium and Long Term Nifty closed at 18069 ( 18090) and touched low of 18042 Nifty touched high of 1827. Mainly followed the band resistance provided last week ( as mentioned below) due to awaiting of FED decision and followed by drop on last day due to HDFC stocks. Nifty small Resistances at 18111/18204/18274 ( Prev Highs Shown in thick red , blue and green horizontal lines) RSI ,MACD and Stochastic are at 62% fall from 75% So far Q4 have mixed results. Nifty- short term is Neutral to Long. Need to decisively close above 18274 to reach targets ext target at 184372/18465 ( fibonacci resitances) . Nifty small Resistances at 18111/18204/18274 Nifty support at 17869/177741 ( Previous Highs) and 17570/17530 (Inclined two trend line) Nifty Medium Term - Nifty need to break decisively above first target 18274 , next target of 18437 ( Fibonacci 0.786 Retracement) followed by prev high 18890. Nifty Support at 17387- 17340/ 17180/17200/17252 Long term- Need to decisively close above 18890 ( Previous Dec22 High) to reach targets of 19000/19500/20000 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)
NSE:NIFTY
by karthikss
NIFTY--Retracement is to Enter Long Again Not for Sell ??Observations: -------->>Nifty trending upwards (after a huge gap down means not to sell, its a retracement) ---------->>After a strong bullish movement, after breakout from 17800 levels, ----------->>Nifty gives larger retracement towards 18050 levels, this retracement is to enter again long with the momentum upside towards 18300,18500 levels. --------->> consider this an opportunity to enter long from these zones, not to enter for short. --------->>Nifty showing pressure on bearish side, but wait and enter for long here, leaving a demand zone @18000-17960 levels. Be on long side with the movement. NOTE: NIFTY- Bullish from this zone 18000-17960 ??
NSE:NIFTYLong
by IIT-Trader
NIFTY--Retracement or Reversal ??Observations: --------->> After a strong breakout in nifty @17800 level, no proper retracement is observed. --------->> If 18200 acts as resistance we will observe a retracement towards 17800 or 17500 levels. --------->> If price break 18200,we have an immediate resistance @18250-18300, a false breakout may happen here @18200. ---------->>Price wants to test the previous supply @ 17800 level which may act as demand zone to move the price towards upside for the targets of 18200,18500 levels in the upcoming weeks. --------->>This week price is ranging between 17950-18200 levels. Note:: Consider it as a Retracement not a reversal in NIFTY.
NSE:NIFTY
by IIT-Trader
1
NIFTY --Strong Support @17840 -17800 ?? or Reversal @17500Note: Strong Support @17840 -17800 will acts as support go long again from this levels to reach 18100,18200 levels. It is recommended to remain on the buy side within the range of 17800-17840, as no significant retracement has been observed after breaking the supply zone at 17840 level. If this level acts as support, weekly expiry is expected to be bullish to consolidation at (18100-18200). Observations: After trending upwards in NIFTY yesterday, today the price continuously moving upwards, They are now poised to reach untested supply zones at 17920-18100 levels. However,, and if any of the previous supply zones act as support, the price could move back upwards.
NSE:NIFTYLong
by IIT-Trader
So What is happening in Nifty? What to expect this week?Certainly the global headwinds in banking and inflation are rocking the markets all over the world. India with strong economic momentum is a bright spot in global economy but it is still feeling the effect and can continue to feel so in the short to medium term context. In the long run Indian story certainly looks at good valuation. As soon as US Fed signals for a Pause Indian indices will certainly pick up the lost momentum and range bound trading sessions. The pattern that is forming right now on Nifty is called Base Formation pattern and certainly in past whenever we have seen such patterns we see a 500 to 1000 point rally. At times the base formation pattern fails too and goes for further consolidation at a step below. The step below in this case can be 16747 level if this base breaks or 16347 level as we can read the chart right now. In case of taking off from this base the major resistance can be near 17543/17532 levels where we have 50 and 200 days EMA. If these levels are crossed the next resistance can be 18170 to 18260 range. If Nifty launches from here the relief rally can be seen. Next week and monthly closing above 50/200 EMA is required for rally to become significant in any way.
NSE:NIFTYLong
by Happy_Candles_Investment