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#Nifty50 outlook for upcoming week 23-27th Dec 2024The Nifty experienced a tumultuous week, plummeting roughly 1200 points to close at 23587 after reaching a high of 24781 and a low of 23537. This sharp decline was largely attributed to a hawkish stance from the US Federal Reserve, triggering a sell-off in the US market and prompting significant Foreign Institutional Investor (FII) selling in India. The 5% correction from its peak has brought the Nifty dangerously close to the crucial WEMA50 support level at 23426. However, there are signs of a potential bullish reversal forming a 'W' pattern. Sustaining above 23426 will be critical for a market turnaround. Next week, I expect a volatile trading range between 24100 and 23000 . A breach of these levels could lead to significant market moves. The monthly Nifty chart also indicates weakness, suggesting further downside potential towards the 22250 support level, representing a 5.7% decline from current levels. This presents a valuable opportunity for investors to prepare a watchlist of their preferred stocks and strategically accumulate positions during any further market correction
NSE:NIFTY
by ssudhirsharma11
Perhaps a 'Santa Rally' is just one step away to begin in 2024Stock markets often enjoy a seasonal share boost during the festive period. It's been two unpredictable year for stock markets after gloomy 2022 but all we are, traders, investors, TradingViewers are hoping for a successful end-of-year boost in the form of a so-called Santa rally. Shares have much wide, breather and better performance so far in 2024, amid trade and geopolitical tensions, high inflation and high interest rate. So... while children are compiling their Christmas lists, traders also want some sweet candies. Traditionally, festive cheer and holiday household spending make the markets more optimistic during the holiday season, boosting investor portfolios. But will 2024 follow the trend? The "Santa rally", a term coined in 1972 by Yale Hirsch, the founder of the Stock Trader’s Almanac, "describes a tendency for the stock market to go up by 1% to 2%" over final five trading days of the outgoing year and the first two of the new one, said Forbes Advisor . This period has "historically" shown higher stock prices in the S&P 500 SP:SPX 79.2% of the time, says Investopedia . What drives the Santa rally? Reasons for the Santa rally are vary and one explanation is the cheery "end of year mood" that means investors are in more of a "buying temperament" rather than selling shares, which pushes up stock prices Will there be a Santa rally this year? Probably, Yes. September quarter capped off the best 12-months return (+36.36%) for S&P500 Index since the pandemic stock market recovery in 2020, so there are a lot of hopes that stars will align, and momentum in the markets, helped by declining U.S. interest rate, will push prices higher in the run-up to Christmas. Sure, there is "no guarantee", though. Sometimes it happens. Sometimes it is not. The odds of a Santa rally may be in your favor, but the "best option" (author's opinion) is to do nothing, remain invested and be "pleasantly surprised" by another strong month by the new year. The main technical graph for S&P500 Index says that we right now.. already somewhere above to 6'000 points for SPX Index, and just one step to break it out to reach the next one half-a-mile, i.e. 6'500 points by the end of the year. Just follow the major upside trend, that's been taken earlier this summer. And that is all. Merry Christmas y'all, TradingViewers! See you in a Happy New 2025 Year! 💖💖
FOREXCOM:SPX500
by Pandorra
3
NDX positive move for the next two days.Riding the Nasdaq Wave: Navigating Market Swells and Dips Let’s dive into the Nasdaq 100 Index. Flashback to a year ago, and you'll remember a 4.05% dip from December 28, 2023, to January 4, 2024. Technology stocks took a hit, shaken by rising interest rates. The market trembled under hawkish whispers from Federal Reserve officials, who hinted that rates might stay elevated to tame inflation. This stirred up volatility, causing a sell-off in high-growth tech stocks — notoriously sensitive to interest rate ripples. Fast forward to today, and we’re staring down a similar barrel: fewer interest rate cuts in 2025 and pesky inflation hanging around. Technically, the NDX boasts solid support at around 21,000. It would take some seriously bad macro-news to dip below the 50-day moving average. Expect some range trading between 21,000 and 22,000 this week. For traders, the game plan mirrors that of the S&P 500 Index. Pocket some profits during market highs and keep some cash handy for snagging better deals in 2025. Stay sharp, and ride the wave!
NASDAQ:NDX
by IrinaTK
Critical Levels in S&P 500 Index this weekNavigating the S&P 500: What to Watch This Christmas Week If you look at the S&P 500's technical chart, you'll notice something intriguing: Friday's rebound wasn't just any rebound — it came with a surge in volume. The Index is flirting with its 50-day Moving Average, a key indicator with investors on edge. As long as macroeconomic data doesn’t throw any curveballs, there's a promising outlook for a festive rally in the stock market this Christmas week. My eyes are on the 6,000 mark for the SPX as a pivotal point. If the momentum continues, we might even see it touch 6,100, which could be the ceiling for this bullish run.
SP:SPX
by IrinaTK
1
Watchlist Breakdown 22/12/2024A quick breakdown of my TOP6 in preparation for next week. This is not Mark's or the Coaches analysis, so take it with a little distance but I still hope you took value from it and it helped you in preparing next week. As we move into the festive period a lot of banks will reduce their exposure resulting in much lower liquidity over all asset classes so I'm not too eager to get involved in trades. Let price and the DXY settle over the next couple of days, stay in your routines, keep the momentum high and be prepared when 2025 starts.
TVC:DXY
by Nico_Lochte
SPX Ascending Wedge BreakSPX had a clean break and retest of its ascending wedge last week. It was a strong move back up off of 5850, but it rejected on the retest. Range is now from 5,850 to ATH. Looking to see if bulls can reclaim that trendline or not. For now I'd be bullish above 5,850 and bearish below. Downside target would be the election gap fill and/or the previous ATH around 5,669. We're still near ATH so that will continue to be the upside target. Long confirmation would come if it reclaimed the wedge + the descending trendline above.
SP:SPXShort
by AdvancedPlays
3
NASDAQ-100 NEEDS MORE CLARITY TO MOVE INDEX FORWARD!Last week, the NASDAQ-100 established key levels for both sellers and buyers. As we head into the next trading week, price rejection at either of these levels will likely determine the index's direction. While the weekly outlook remains bullish, a bearish close this week could lead to further deterioration of the index. N.B! - NAS100USD price might not follow the drawn lines . Actual price movements may likely differ from the forecast. - Let emotions and sentiments work for you - ALWAYS Use Proper Risk Management In Your Trades #nas100usd #nasdaq
OANDA:NAS100USD
by BullBearMkt
VIX Monday Trading Plan: Entry, Stop Loss, and Targets! ### **Chart Key Levels:** 1. **Support Levels**: - **Yellow Line (Entry Point)**: Around **18.35**. - This serves as a potential entry zone based on the current consolidation and trendline support. 2. **Stop Loss (SL)**: - **15.11** (White Support Line): This level represents a key support zone. If breached, it indicates a further decline in volatility, invalidating the setup. 3. **Targets (T1 & T2)**: - **Target 1 (T1)**: **22.01** (Red Line) – A key resistance level and first profit-taking zone. - **Target 2 (T2)**: **26.54** (Green Line) – The next resistance zone for a larger move, aligning with recent high levels. ### **Entry Setup**: - Enter the trade near **18.35**, as this zone aligns with horizontal and trendline support. - Look for confirmation like a bounce or bullish momentum before entering. ### **Trade Risk and Reward**: - **Stop Loss**: Tight stop loss at **15.11** to minimize risk if the price breaks below support. - **Reward**: - T1: Approximately **3.66 points** from entry (around 20% gain). - T2: Approximately **8.19 points** from entry (around 45% gain). ### **Potential Scenarios**: 1. **Bullish Scenario**: - If the price holds above **18.35** and shows strength, it can move toward **22.01** (T1) and eventually **26.54** (T2). 2. **Bearish Scenario**: - If the price breaks below **15.11**, the setup fails, and further downside is expected. This plan is based on the current technical analysis and key levels observed on the chart. Monitor price action closely at entry and adjust stop loss and targets based on Monday's market momentum. Let me know if you'd like additional clarification or adjustments! Conclusion: By entering near 18.35 with a strict stop loss at 15.11, this setup provides a favorable risk-reward ratio targeting 22.01 and 26.54, aligning with key support and resistance levels.
TVC:VIXLong
by Xeeshan79
1
USD$ is set to rise. On Monday I said the opposite: Falling I stand corrected on what I published last Monday right before the Asia session, I think a rushed analysis and when you see what you want to see in a chart to support an idea, it can all go wrong. Or did the USD$ have such a bullish week to turn the charts around in such a short space of time. I don't know but both the Daily and Weekly chart of the USDX have a very bullish W/Bottom. For those who don't know these patterns, they are basically a double/bottom or bottom1 & a bottom 2 and a W is formed as price is written up to a Neckline which is the yellow lines on the daily and weekly charts here. I initially thought and stated that the USD$ may run up to 1.11 /1.12 and from a technical standpoint of these W/bottoms that is exactly where price may end up. But lots can happen in the meantime. Briefly on Gold and Silver: The Gold price has turned around bullishly after turning down in a Double/Top for many days. This turnaround also coincides with the bottom trend-line which is also the bottom line of a Triangle formation on the daily. Next trading day I would expect Gold to continue to climb for a couple of sessions before turning back down to the trend line and bottom of Daily-triangle which is all but complete and price would then either breakdown or breakout from triangle. I think that despite the USD$ continuing to climb, the Gold price will do the same thing and climb but probably won't go to an ATH just yet. Silver has a bearish Head n Shoulders on the Daily. Price will retest the sell area next session on the daily which means the Silver price will get a false Long rally and selling will resume into the daily H n S pattern. The Silver price is right on the daily 200ema and back in January and February 2024 price got a little below the 200ema and then took off on a Long rally. Same thing expected, the HnS will play out and price will fall back a little more and then a buying spree and rally upwards will commence in Silver, possible just before the New Year.
PEPPERSTONE:USDXLong
by Easy_Explosive_Trading
Nifty Upside and downside predictionRecently, Nifty has performed poorly, causing the markets to move downward, which doesn't correlate with others. I believe this is an opportunity to grab as many stocks as possible and find the better-looking ones for the long term. Levels to watch: 23,250: If Nifty reaches this level, it could form a double bottom and continuously move upward. We can expect an upward trend until the budget and a rate cut of about 0.25 basis points, possibly even 0.50 basis points. This could shock the markets and potentially cause a downward reaction if it happens too late. This is my optimistic prediction. 22,150: If Nifty doesn't form a double bottom and continues downward, it could reach this level. 21,250: This level is almost 9% down from today. Additionally, there's a CME gap around the 20,500 to 20250 level on the weekly chart. While I don't expect such a severe drop, it's important to note. You never know about markets; they could severely go down that path. If it does, prepare yourself and get your bags ready to fulfill your dreams because it couldn't get better than this. This is a once-in-a-lifetime opportunity, so make sure to use it wisely and change your life for the better. NSE:NIFTY
NSE:NIFTY
by Mayanksinghrader
Testing //@version=5 indicator("Range Filter with Support and Resistance", overlay=true) // Inputs for Range Filter length = input(10, title="Range Length") multiplier = input.float(1.5, title="Multiplier") // Calculate Range Filter src = close basis = ta.sma(src, length) range = ta.stdev(src, length) * multiplier upper = basis + range lower = basis - range // Trend Detection trendUp = src > upper ? 1 : na trendDown = src < lower ? -1 : na trend = ta.valuewhen(trendUp or trendDown, trendUp ? 1 : -1, 0) // Support and Resistance Levels lookback = input(20, title="Lookback Period for Support/Resistance") support = ta.lowest(low, lookback) resistance = ta.highest(high, lookback) // Plotting plot(upper, color=color.new(color.green, 70), linewidth=1, title="Upper Range") plot(lower, color=color.new(color.red, 70), linewidth=1, title="Lower Range") hline(support, "Support", color=color.blue, linestyle=hline.style_dotted, linewidth=2) hline(resistance, "Resistance", color=color.orange, linestyle=hline.style_dotted, linewidth=2) // Background Color for Trends bgcolor(trend == 1 ? color.new(color.green, 90) : trend == -1 ? color.new(color.red, 90) : na) // Alerts for Breakouts alertcondition(src > resistance, title="Price Above Resistance", message="Price broke above resistance!") alertcondition(src < support, title="Price Below Support", message="Price broke below support!")
NSE:NIFTY
by Vasudevfor