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Bank Nifty | Pre-Market Report | 23 Dec ~ 27 Dec 2024Bank Nifty too has been massacred by the brutal selling last week! If we look at the weekly chart, the weekly candle close has wiped out almost the last one month of Buying in a single blow! However, Bank Nifty still seems the stronger of the two indices when compared to Nifty. For the upcoming week, Bank Nifty seems likely to trade between 52,900 & 49,700 The sentiment would be Sideways to Bearish. Option sellers could benefit from Straddles on a Weekly Expiry basis. Option buyers should look for reversals at boundaries for best risk reward opportunities. Presently Bank Nifty is at the crucial strong support zone line a Weekly Charting basis which is also the 50-Week Moving Average zone. For now, it is advisable to trade these boundaries and see how Bank Nifty plays out in the coming weeks.
NSE:BANKNIFTYShort
by Sky_Tracer
Nifty | Pre-Market Report | 23 Dec ~ 27 Dec 2024Nifty has been massacred by the brutal selling last week! If we look at the weekly chart, the weekly candle close has wiped out the last one month of Buying in a single blow! This clearly has signalled that we are in a Bear Market Grip. For the upcoming week, Nifty seems likely to trade between 24,400 & 23,155. The sentiment would be Sideways to Bearish. Option sellers could benefit from Straddles on a Weekly Expiry basis. Option buyers should look for reversals at boundaries for best risk reward opportunities. Presently Nifty is at the crucial Neck line on the Weekly Charting basis which is also the 50 Week Moving Average zone. Looking at the intensity of previous week's crash, this upcoming week could be a pause and then we could have a further downside crash towards 22,600 which is the 50% zone of the long term Weekly charting trend. If 22,600 doesn't hold then we will ultimately find good support around 22,000 level which is also the 100 Week Moving Average.
NSE:NIFTYShort
by Sky_Tracer
1
NAS100 DEC 23 -27 MARKET BREAKDOWNAnalysis Based on the Chart: 1. Bullish Context: The overall trend is bullish, and the market has recently pulled back to a key support zone: • The 50% Fibonacci retracement level aligns with both historical support and a daily bullish order block (OB). • Price action respecting this level suggests a potential continuation to the upside. 2. Daily Break of Structure (BOS): The BOS on the daily timeframe confirms a shift to bullish momentum, indicating that higher highs could be the next target. 3. Liquidity Sweep: The sharp pullback appears to have cleared out liquidity (stop-loss clusters from retail traders) below the recent swing low. This is a common pattern before a bullish push. 4. Confluences for Entry: • The pullback to the Fibonacci 50% level gives a high-probability entry point. • The price has respected both dynamic support (trendline) and horizontal support at the bullish OB.
FX:NAS100Long
by Saint876
3
NIFTY50.....Wave y up?Hello Traders, the NIFTY50 extend his gains to 24857 on December 05th! After, a sharp decline to 23537 occurr. This move took the shap of a flat in progress, and if so to come, the next move would be to the upside. Targets remain from 24537 to 25234 area. Note the detailed count. The advance from the December 5th low is three waves and so a wave w! The decline is an, so called, "whatever correction", and the possible move to the upside, if so to come, must be an ("a-b-1-2-3-4-5")-y advance! Thereafter a decline to lower lows below 23263 should be next! But it is to early to judge and we have an eye to the facts. In fact! If this move was all of the correction (@ 23263) the next move is an impulse to new highs in the coming weeks. Have a great week..... Ruebennase Please ask or comment as appropriate. Trade on this analysis at your own risk.
NSE:NIFTY
by ruebennase
1
The S&P500 is struggling to reach its previous peak The S&P500 is approaching the 5914-5892 support range on the one-hour timeframe after a price decline. This area acts as strong support due to previous reactions and a crossover with the 50% Fibonacci retracement level. The price reaction to this support area indicates buyers’ willingness to increase their strength. The bullish candles that will form after hitting this level indicate a possible price reversal. If this level holds, a move towards the targets of 6033 and then 6126 is possible in the short term. However, a break of the support level of 5892 could lead to a further decline and a drop to lower ranges. Traders should pay attention to the price reaction to these ranges as well as trading volume.
OANDA:SPX500USDLong
by arongroups
BANKEX S/R for 23/12/24Support and Resistance Levels: Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline. Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down. Breakouts: Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold. Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying. MA Ribbon (EMA 20, EMA 50, EMA 100, EMA 200) : Above EMA: If the stock price is above the EMA, it suggests a potential uptrend or bullish momentum. Below EMA: If the stock price is below the EMA, it indicates a potential downtrend or bearish momentum. Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set. Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward. Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop. Disclaimer: I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
BSE:BANK
by zenthosh
SENSEX S/R for 23/12/24Support and Resistance Levels: Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline. Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down. Breakouts: Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold. Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying. MA Ribbon (EMA 20, EMA 50, EMA 100, EMA 200) : Above EMA: If the stock price is above the EMA, it suggests a potential uptrend or bullish momentum. Below EMA: If the stock price is below the EMA, it indicates a potential downtrend or bearish momentum. Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set. Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward. Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop. Disclaimer: I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
BSE:SENSEX
by zenthosh
MIDCAP NIFTY S/R for 23/12/24Support and Resistance Levels: Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline. Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down. Breakouts: Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold. Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying. MA Ribbon (EMA 20, EMA 50, EMA 100, EMA 200) : Above EMA: If the stock price is above the EMA, it suggests a potential uptrend or bullish momentum. Below EMA: If the stock price is below the EMA, it indicates a potential downtrend or bearish momentum. Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set. Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward. Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop. Disclaimer: I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
NSE:NIFTY_MID_SELECT
by zenthosh
FINNIFTY S/R for 23/12/24Support and Resistance Levels: Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline. Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down. Breakouts: Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold. Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying. MA Ribbon (EMA 20, EMA 50, EMA 100, EMA 200) : Above EMA: If the stock price is above the EMA, it suggests a potential uptrend or bullish momentum. Below EMA: If the stock price is below the EMA, it indicates a potential downtrend or bearish momentum. Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set. Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward. Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop. Disclaimer: I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
NSE:CNXFINANCE
by zenthosh
BANK NIFTY S/R for 23/12/24Support and Resistance Levels: Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline. Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down. Breakouts: Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold. Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying. MA Ribbon (EMA 20, EMA 50, EMA 100, EMA 200) : Above EMA: If the stock price is above the EMA, it suggests a potential uptrend or bullish momentum. Below EMA: If the stock price is below the EMA, it indicates a potential downtrend or bearish momentum. Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set. Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward. Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop. Disclaimer: I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
NSE:BANKNIFTY
by zenthosh
NIFTY S/R for 23/12/24Support and Resistance Levels: Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline. Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down. Breakouts: Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold. Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying. MA Ribbon (EMA 20, EMA 50, EMA 100, EMA 200) : Above EMA: If the stock price is above the EMA, it suggests a potential uptrend or bullish momentum. Below EMA: If the stock price is below the EMA, it indicates a potential downtrend or bearish momentum. Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set. Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward. Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop. Disclaimer: I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
NSE:NIFTY
by zenthosh