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NIFTY trade ideas

NIFTY S/R for 17/10/24Support 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. 20 EMA (Exponential Moving Average): Above 20 EMA(50 EMA): If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum. Below 20 EMA: If the stock price is below the 20 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. RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory. Combining RSI with Support and Resistance: Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal. Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset. 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
View on Nifty - October 17th, 2024Market structure: 1. Market is currently in a downtrend as you can see the fall in the left side. 2. Big red bars on the screen are evident. 3. Price is below all Moving Averages Price action: After lower lows, now we are seeing a consolidation. This can be either distribution or accumulation. As a directional trader, I would like to favor the direction by saying it is distribution but market is supreme. I will decide the action based on actions. Possibilities: 1. Breakout above 25200 - A short covering. View change from bearish to upside. 2. Breakdown below 24950 - A directional short.
NSE:NIFTY
by NandanChaturvediTrade
NIFTY : Trading Levels and Plan for 16-Oct-2024Nifty Trading Plan for 16th October 2024 In the previous session, Nifty showed significant volatility, with a sharp fall with First tick of higher opening followed by a minor recovery, leading to a sideways consolidation near the 25,050 zone. The market seems to be struggling near the No Trade Zone around 25,066, indicating indecision. Key levels such as the 25,259 resistance and 24,866 support will play a vital role in determining the market's direction. As we head into 16th October, it’s crucial to prepare for different scenarios based on market opening. Gap-Up Opening (100+ Points): If Nifty opens with a gap-up above the resistance level of 25,259, wait for a price action confirmation. A sustained move above 25,314 can trigger a rally towards the Profit Booking Zone around 25,469. Look for opportunities to book partial profits in this zone. If Nifty struggles to sustain above 25,314, expect a sideways move back towards 25,259. Avoid aggressive buying and wait for a clear breakout above 25,314. Place stop-loss orders below 25,166 to minimize risk in case of a reversal. Flat Opening: In case of a flat opening near 25,065-25,077, let the market settle for the first 30 minutes. Look for a breakout above 25,166 for a potential upside move towards 25,259 and 25,314 levels. If the market fails to sustain above 25,166, expect a sideways move. In this case, avoid taking fresh long positions. Keep a close watch on the support zone of 25,065-25,077 for a possible bounce. Stop-loss for any long position should be placed just below 25,077 to safeguard against sharp downside moves. Gap-Down Opening (100+ Points): If Nifty opens with a gap-down near the Buyer’s Support Zone around 24,866-24,810, wait for bullish confirmation before initiating any long trades. A break below 24,866 might trigger further downside towards 24,629. Avoid trying to catch falling knives in such a scenario. If Nifty manages to bounce from the support zone at 24,866, expect a potential pullback towards the No Trade Zone of 25,077. Consider keeping a tight stop-loss below 24,810 in case of any failed attempts at recovery. Risk Management Tips for Options Trading: Stick to defined stop-loss levels based on technical zones, such as 25,166 for longs and 24,866 for potential reversals. Use options strategies like spreads or iron condors to limit your risk, especially in a volatile environment. Avoid taking large option positions in the No Trade Zone to prevent time decay from eroding your profits. Consider booking profits in the Profit Booking Zone (25,314-25,469) when trading directional options to lock in gains. Summary & Conclusion: Nifty is currently in a delicate zone with potential for both upside and downside moves. A gap-up above 25,259 could provide an opportunity for further gains towards 25,314, while a gap-down might lead to a retest of critical support levels around 24,866. Risk management is key, especially when dealing with options in a volatile market. Let the market show its hand before committing to trades, and be prepared for quick reversals, especially in the No Trade Zone. Disclaimer: I am not a SEBI registered analyst. This plan is based on my personal analysis using technical parameters. Traders should conduct their own research or consult with a financial advisor before making any trading decisions.
NSE:NIFTYShort
by LiveTradingBox
NIFTY S/R for 16/10/24Support 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. 20 EMA (Exponential Moving Average): Above 20 EMA(50 EMA): If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum. Below 20 EMA: If the stock price is below the 20 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. RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory. Combining RSI with Support and Resistance: Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal. Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset. 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
NIFTY : Trading Levels and Strategies for 15-Oct-2024Nifty 50 Trading Plan for 15-Oct-2024 Previous Day's Chart Pattern Recap On 14th October, Nifty 50 showed a slight upward bias, holding above the "No Trade Zone" at 25,166 and attempting to break into the resistance zone. However, the index still faces significant resistance around 25,259 and 25,314. The price action suggests potential for a further up-move if these resistances are cleared. However, failure to do so may lead to consolidation or even a downside correction, especially if the index fails to sustain above 25,166. Opening Scenarios Gap Up Opening (+100 points or more): If Nifty opens above 25,259, it will immediately face resistance at 25,314 and the "Profit Booking Zone" near 25,416 - 25,469. A gap-up could see profit booking around these levels, leading to a pullback towards 25,259. Trade Setup: - Buy above 25,259 with a stop loss below 25,166. - Targets: 25,314, 25,416, and 25,469. - Look for reversal signs near 25,416 if the price fails to sustain above this level. Flat Opening: A flat opening near 25,142 suggests potential consolidation around the "No Trade Zone." Traders should wait for a clear break above 25,166 for an upside move or below 25,077 for downside action. Trade Setup: - Buy above 25,166 with targets of 25,259 and 25,314. - Short below 25,077 targeting 24,866 and 24,810. - It’s essential to observe the first 30 minutes of trading to gauge momentum and direction before entering a position. Gap Down Opening (-100 points or more): A gap down below 25,077 would push Nifty towards the "Buyer's Support for Trend Reversal" zone near 24,866. Failure to hold this level could lead to further downside towards 24,810, and a reversal here might offer a good long entry. Trade Setup: - Buy near 24,866 with targets of 25,077 and 25,166. - Short below 24,866 with targets of 24,810 and 24,760. - Be cautious in gap-down scenarios as volatility can spike and quick reversals are possible. Risk Management Tips for Options Traders: - In case of a gap-up or gap-down, avoid buying options at inflated premiums right at the open. Wait for a pullback or some consolidation before entering. - Use spreads like bull call or bear put spreads to reduce risk while capturing the directional move. - Keep a strict stop loss when trading options, as time decay can eat into profits, especially if the move takes longer than expected. Summary and Conclusion: Nifty 50 is currently facing strong resistance at 25,259, with the key levels to watch being 25,166 on the upside and 25,077 on the downside. Depending on the opening scenario, traders should be prepared for a breakout above 25,259 or a breakdown below 25,077, with key levels identified for targets. Risk management is crucial in options trading, particularly in gap-up and gap-down scenarios where volatility may spike. Disclaimer: I am not a SEBI registered analyst. All trading ideas shared are for educational purposes only. Please do your own research or consult a financial advisor before executing any trades.
NSE:NIFTYLong
by LiveTradingBox
Baby steps taken by Nifty towards road to recovery. Today we saw Nifty take first baby steps towards road to recovery. Nifty was seen rising from channel bottom in the hourly chart. One must note that formidable Mother and Father resistance are yet to be conquered. Nifty today was blocked by Mother line which is at 25140. Father line which is at 25262 is waiting to resist further progress of Nifty. To know more about stop losses, trailing stop losses, Profit booking and investment, financial awareness in general, process of investment in Equity or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Many People who have read it consider it as hand book and perfect guide to equity investment. You can read reviews of the book or purchase the same from Amazon. The book is available on Amazon in Kindle and paperback version. I am sure you are going to find it of massive use. Once you have read the book, I assure you that you will become a next level investor. If Nifty is able to conquest Mother and Father line, the next resistances will be at 25475, 25644, 25753 and 25875 before Nifty is able to regain 26K levels. Supports for Nifty will be at 24915 (Important Parallel chanel bottom), 24684 and 24478. In worst case scenario Nifty bottom currently seems to be near 23891. It is less likely that Nifty reaches here unless there is some escalation in Middle East or some other major global event.
NSE:NIFTYLong
by Happy_Candles_Investment
Result - Day 1 of Nifty 17 Oct Nifty Game PlanAs we share an idea on Saturday and told u that nifty is quite bullish after 24990 and as you can see above buying zone was above 24990 and today nifty open with a gap up and touched our first target within an 30 min candle. after that 25164 was strong resistance for nifty as I draw it with dotted line and nifty exactly take resistance at ditto 25165 as we told yesterday. Next Day: if nifty open gap-up 25217 will be a good resistance and is nifty closes 15 min candle above 25217 the next target will be the 25335. Educational Purpose.
NSE:NIFTYLong
by optionhunting
NIFTY S/R for 15/10/24Support 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. 20 EMA (Exponential Moving Average): Above 20 EMA(50 EMA): If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum. Below 20 EMA: If the stock price is below the 20 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. RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory. Combining RSI with Support and Resistance: Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal. Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset. 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
NIFTY - Elliott Wave Outlook Timeframe: Weekly NSE NIFTY began an impulsive move after hitting a low of 15183.4 . Based on the wave count, the price completed wave (5) of wave (3) at 26277.3 and has since started to decline. The price is currently in a wave (4) correction phase. Let’s switch to the daily timeframe for a closer look at the details. Timeframe: Daily On the daily chart with a neckline at 24,750 , we’re observing a bearish head-and-shoulders pattern forming. If the price breaks below this neckline, Nifty could drop significantly, potentially reaching the demand zone or surge point of the pattern. However, if the price fails to break this neckline, it indicates weakness in the bearish momentum, signaling a possible reversal According to the Elliott Wave Principle, if wave 5 is an extended wave, the correction often occurs near sub-wave 2 of the previous impulse, especially if it falls below sub-wave 4. So, 24,570 will be a crucial level for Nifty. We can expect the price to move up by no more than 126% of wave A within the correction. Otherwise, there’s a risk of mistaking wave B for wave 3. Whatever scenario Nifty chooses, it’s better to let Nifty commit to a clear direction before we commit to the market. We will update further information soon.
NSE:NIFTY
by Trade-Technique
3
NIFTY : Key Levels and Plan for 14-Oct-2024Nifty Trading Plan for 14-Oct-2024 Opening Scenarios Gap Up Opening (+100 points or more): If Nifty opens with a gap up near or above 25,077, it will be testing the "Opening Resistance / Support" zone immediately. A breakout above 25,077 could push Nifty towards the intraday resistance at 25,166, with potential targets at the "Resistance / Sideways Zone" between 25,200 and 25,240. However, failure to sustain above 25,077 could lead to a pullback towards 24,943, which serves as the "Opening Support / Resistance." Trade Setup: - Buy above 25,077 with a stop loss below 25,030. - Targets: 25,166 and 25,200. - Short if Nifty rejects 25,077 with a stop loss above 25,120. Flat Opening: A flat opening around 24,975 would place Nifty just above the "Opening Support / Resistance" zone at 24,943–24,914. In this scenario, Nifty may trade sideways before breaking either direction. A move above 25,077 will be critical for upside momentum, while a breakdown below 24,943 could result in a test of lower supports around 24,857. Trade Setup: - Buy above 25,077 with targets of 25,166 and 25,200. - Short below 24,943 targeting 24,857 and 24,829. - Wait for confirmation before entering trades, as this scenario might see choppy price action around support/resistance. Gap Down Opening (-100 points or more): A gap-down opening near or below 24,857 would place Nifty in the "Must buy Try Zone" (24,857–24,829). Buyers could step in aggressively to defend this level, but a breakdown below 24,829 could accelerate selling pressure, leading Nifty towards 24,808 and possibly testing the "Support Zone" at 24,625. Trade Setup: - Buy near 24,857 with targets of 24,914 and 25,077. - Short below 24,829 with targets of 24,808 and 24,625. - Gap-down scenarios can be highly volatile, so use wider stop losses and trade cautiously with confirmation. Risk Management Tips for Options Traders: - Avoid trading options in the first 15-30 minutes after the market opens, as volatility tends to be high. - Use defined risk strategies like spreads (e.g., bull call spreads or bear put spreads) to limit losses. - Set stop-loss levels based on key support/resistance zones, and do not move them unless the market structure changes significantly. - Stick to your risk per trade, especially when trading out-of-the-money (OTM) options, which can lose value rapidly in volatile conditions. Summary and Conclusion: Nifty is currently consolidating between the key resistance at 25,077 and support at 24,857. A gap-up opening could challenge the upper resistance zones, while a gap-down could bring Nifty closer to critical support levels. Regardless of the opening scenario, focus on confirmation at key levels and employ proper risk management when trading options. Disclaimer: I am not a SEBI registered analyst. All trading ideas shared are for educational purposes. Please conduct your own analysis or consult a financial advisor before executing any trades.
NSE:NIFTY
by LiveTradingBox