NIfty MylinesThis is not a prediction! And never believe in any prediction either! Just My-Lines to watch if it's respected and PA have an edge will buy or Short. Trade your system, trade what you see!
Niftyview
Nifty Closed above imp resistance, holding above it important. Yesterday we had given 18721 as an important resistance for Spot nifty. Today it has closed just above it which is a good sign. It was not a strong close but it was a good close. Key Resistances now are 18778, 18824 and previous All time high of 18887.6. Supports for the Nifty will be at 18721 it is a weak support as of now. 18683, 18639 and 18572. Relative Strength Index of Nifty is above 73 and the chart is going in the area again where Nifty will soon if not tomorrow require a little bit of consolidation or cooling down.
BIG FALL is OVERDUE.While momentum is directing at rumble down of price action, Supply force stands with grave dug. Foreign cues are sad and tomorrow's expiry is going to be bad. Bulls rather take a hike because that's how I like.
Nifty daily analysisIf market opens above 18700 and then give breakout after consolidation, we can buy.
Nifty is not good zone for sellling. We can enter banknifty for selling if market opens with big gapdown.
Mid Channel Line providing a moderate support to NiftyMid Channel Line providing a moderate support to Nifty in the second half of the day in last trading session. As you can see from the chart Mid-Channel line drawn on the hourly chart provided a solid support to the nifty as the Nifty jumped from 18531 to close near 18599. Supports nearby are now at 18531 and 18507. Resistance zone will be 18639 and 18667. Above 18667 the next resistance is near 18721
Nifty Trade Setup (7-June-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.
Nifty moving in triangle pattern from Daily Time Frame and from past 3 days price action was range bound and consolidating between 150 points from past 3 days.
For tomorrow setup:
1.) If opens flat will buy only after break and retest of this triangle pattern. For target of near by Resistance 18700, 18720.
2.) If open gap up or down then will wait for price action and good setup to form as its range bound from past 3 days.
will not trade if there is no good setup as it is from past 3 days.
Support is placed at 18590,18560 and 18500
Resistance is place at 18665, 18640.
Nifty daily analysisIf nifty breaks upper level than buy
if nifty breaks lower level of 18550 then sell
In between do not trade, and for gapup take less quantity, we will se price-action again then we will enter
Nifty daily analysisIf nifty breaks upper level of 18640 then we can buy in full quantity
if nifty breaks lower level of 18580 then we can sell in small quantity for a target of 30-40 points.
Big selling pressure will come only below 18500/18480 level.
so between 18640-18500 trade in small quantity
Nifty levels for 5th JuneThere is a gap up opening on Monday.
Dow Jones was closed 2% above the last trading day.
Now we can expect a big move in nifty , it can touch lifetime high.
NIFTY--Turned to be Bullish Again??Observations::
Price is exactly closed near the Previous Strong Resistance,
If this acts as support will observe bullishness towards 18600,18700 levels.
If price breaks 18700 levels, it may touch ATH as well...will see this later, it will touch or not.
Until Keep watch these levels.
We have a demand zone @18200,which is a strong demand may acts as support again.
Good Closing on Friday, positive to start the new week expected.Due to Good Closing on Friday, positive to start the new week can be expected. We might have a positive gap up start on Friday if there is no negative news on the global or local level during the weekend. The resistances to look forward to are 18600, 18662 and finally 18742. Long term targets are 18887 and 19200+ levels. Supports at the same time remain at 18488, 18325 and finally 18048. closing below 18048 has potential to handover the control of the rally to the Bears.
laurus lab trying to complete bottomsome risk is still there so wait and watch.
need patience to see more development till august.
NIFTY--18700 or 18500 Observations::
---->> Price is trading in range after opening gap up.
consolidation + Bullish = Sell @ Resistance.(18700 Resistance)
Consolidation + Bearish = Buy @ Support (Gap may acts as Support.)
If price showing bullish pressure towards 18700, wait here for reversal may happens, previous strong fall area.
if price comes back to 18450-18500 levels, look for buy.
if price breaks 18575 zone retest sell for target of 18500 zone. After break retest in needed to sell.
Previous strong resistance may turned to be support @18450 range.
NIFTY TRADE SETUP 01 JUNE THURSDAY
Date : 01 JUNE 2023
Buy Above 18620 (WITH SMALL QUANTITY)
For Large Move Buy Above 18660 (WITH FULL QUANTITY)
Sell Below 18475
RESISTANCES AT UPPER LEVEL
R1 : 18720
Khulaa Asmaan....no level as such All Time High so....
SUPPORTS AT DOWN LEVEL
S1 : 18420
S2 : 18350
S3 : 18300
Nifty daily analysisIf market opened sideways and breaks yesterdays high than we can enter,
if market opened gap down below small consolidation than we can sell.
on gap up = no trade
Stock of the week trading Idea 29 to 02 june 23Hello Traders,
This stock of Bharti Airtel is picked for your trading with the purpose of adding some value in your earning. For this you need to understand both part of my predictions in form of marking that you are watching and predictions, how to use them by checking below .
Nifty Trade Setup (26-May-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup.
As i was busy with some work i didn't posted my trade setup for 25-May-2023 and also didn't traded on 24-May-2023 although it was good session too. watched chart for few minutes today and closed terminal because of work today. Today on expiry day there were opportunities also if someone trade with patience. I didn't took trade today because i didn't planned anything and this was my bad habit before that i always trade if market in moving from support or resistance i took trade with out any setup or patience so that i don't miss any profits as you may know this (FOMO). Which was my reason for more losses than profits. I will post on what i am doing to improve it in separate post. This is going to be my setup for tomorrow:
Today market opened flat and there was selloff from 18265 to 18200 almost 65 points down. but in last 1 and half hour it took support at (18200) and then rise like rocket making almost all green candles without any pullbacks on 5 min TF gaining almost 100 points from day's low.
Price is forming triangle and closed near trendline resistance.
Setup for Tomorrow:
1.) If it opens flat and sustains this trendline resistance on 15 TF then i will look to buy CE for target of 18363, 18371 and 18380.
2.) If it opens gap up i will look for rejections from same targets or near by CPR and will buy PE trade for near by support levels which is 18300 as 1st support or CPR whichever will be closer.
3.) If it opens gap down 1st support is placed at 18300 level if it takes support at this level and holds for 15 to 30 minutes. I will look for buying CE.
Views are bullish so will trade cautiously if i am trading in opposite direction. As from Volume there was lot of buying buying when price was moving above today as compared to while it was selling off.
Hit like to keep me motivated for keeping my trading journal also if you can help as Trading View is holding rewards if Ideas or Script can be listed in Editor Picks :) . also one can comment how i can make it better or any improvements i can make in my trading setups or improving this journal.
NIFTY--18700 Or 18200Observations:: NSE:NIFTY
----->> if we see monthly candle it is a strong bearish candle,
------>> If we see weekly analysis , price enters into a zone where previous strong rejection area.
we are still in that area , High of that area is 18700.so we will buy up to 18700 area.
------>> If we go for daily analysis , price enters in that area and showing downward pressure,
price created a support in the zone @18060 level, while entering in to the resistance area.
so that level acts as support and price moved to the resistance zone again with strong bullish candle,
and breaks the previous resistance @18460 level.
----------------------------------------------------------------------------------------
Now we can see the clear picture,
Case1::
If Yesterday strong bullishness is a manipulation and fake breakout above 18460 level,
we are going to sell below 18400 where previous strong resistance, for the target's of
18360-18320,18260,18200 only.
while breaking the resistance @ 18460 price created a support @18200 level which is a new support.
case 2::
If this is a strong breakout, we have a next resistance @18700 level,
we will continue to move in the same direction, but a retracement is needed to go long,
after breaking the resistance @18460 levels no proper retracement is not seen.
if retracement is done to these levels, 18460-18400 levels and will go for buying above 18460
for targets of 18500,18570-18610 and 18700 levels.
@18570-18610 level previously bullishness and bearishness is observed @ same zone.
So clearly this week price is ranging above 18200-18700, in the middile we have resistance @18460 zone,
if this zone acts as support we go for buying up to 18700 levels,
if again acts as resistance will go for selling up to 18200 levels.
NIFTY--Strong Supply@ 18440-18460 ??Price is exactly closed in the strong Demand zone, which is previous supply zone.
if this zone acts as support, price will go up, up to the next resistance @ 18438-18458 range. Résistance + supply zone. = Strong push to downwards may observe.
Today's fall is due to previous supply zone @18400 levels, We are left with one supply that is not tested @ 18438-18458 levels.
Look here for sell for the target of 18360 and 18260, if price falls below keep in the trade up to 18000 levels.
Keep note ::
Price may be consolidate between the supply@ 18400 and supply zone @18440 levels, enter on breaking the 18400 and retest of any supply to below levels.
If price is not able to break and still in the same range the expiry neutral.
Good end to the day but lot of resistances to conquer The end of the day was good for Nifty as the Nifty bounced from the support given earlier which was at 18206. (Nifty went just below it 18202 Low of the day and bounced back substantially to end at 18321).
The major resistances to conquer remain: 18324, 18382 and 18455.
Supports on the lower side remain at: 18202, 18190 and the zone between 18075 and 18068. (Below 18068 Bears will become very active).
Nifty 50 Pre Market Chart Update Nifty 50 Friday Move Analysis Level's Nifty 50 Long Position. Friday Bullish Trend Expected
Nifty Not sustaining above mid channel support not a good omenNifty Not sustaining above mid channel support not a good omen for the Bull run. Somehow Nifty has to make a comeback in next 2 or maximum 3 days and sustain above Mid channel line which is around 18413 mark.
Right now Nifty als faced a trend line resistance which emancipates from previous top. The zone was too hot for Nifty to handle and it leaped back towards the support of 18323.
Supports for Nifty Will be at: 18323, 18275, 18206 and finally 18068 to 18040 zone. (Major buffer Support). Below 18K Bears start to loose control.
Resistances for Nifty: 18413, 18455, 18525 and finally 18601 (Major Resistance).
Nifty daily analysisIf market breaks 18280 then chances of nifty consolidating between 18400-18100 in this month becomes much greater.
So you could trade for small targets in between
