Multiyear Support If we closely watch hashtag#Nifty50 weekly setup look like multiyear breakout re-test and in daily time frame in panic case price may be test near 24300 because of AVWAP .
NIFTY trade ideas
Nifty 14th Oct Outlook with Weekly ViewsNifty pulled back from the lows of 24750 but with a weak bias. Pull back upto 25400 to 25500 is possible within 2 to 3 days but still the range of 25600 is not broken , it is in bear trap. Probability for a second fall from the resistance of 25400 - 25500 is high which may push nifty to retest 24700 to 24800 level and may be further down in coming months.
For tomorrow a short swift pull back can be played upon after 9.45 am to 10 am ( allow nifty to settle down ) taken into consideration international market and news.
NIFTY50.....Waves c of b of iv up next?Hello Traders,
The NIFTY50 has made a low at 24694. Since this level we have seen a counter-trend move (against the larger direction) to 25234. This level was just below my first possible target @ 25287 and turned out to be wave a of b of iv!
After this move, the price fell to 24920 and retraced below the 0.5 Fibonacci. As can be seen on the chart, the price moved above the declining trend line and "broke" above it. So the next move could be wave c of b ov iv in the coming hours! Technically motivated traders will follow this buy signal with a close stop loss level.
If the N50 breaks below the 24694 level, a wave c of iv to new corrective lows is underway! A possible target area is 24283 to 23173.
Please note the different degrees of the waves I am describing!
While N50 is advancing to the 25473 area, the targets may not be that low, depending on the internal structure of the developing waves.
So I think you are well-prepared for the next 2–3 days. I will try to find some time to update the count!
Have a great week.....
Ruebennase
Please ask or comment if necessary.
Trading based on this analysis is at your own risk.
NIFTY 50 KEY LEVELS for 14/10/2024 //@description
// All credit goes to Tony for the concept of this indicator. His Trading View link: www.tradingview.com
// Note: The calculation method in this indicator differs from Tony's, but the concept is derived from his work.
**Explanation:**
This trading system helps you avoid blind trades by providing confirmation for better entries and exits. It considers volume, past prices, price range and indiavix.
**Entry/Exit Points:**
- **Entry/Exit Lines:** Use the BLACK line for long trades and the RED line for short trades, based on confirmation from your trading plan.
- **Stop Loss:** For long trades, set the stop loss at the RED line below. For short trades, set it at the BLACK line above.
- **Take Profit:** For long trades, target the next RED line above. For short trades, target the next BLACK line below.
**Timeframe:**
Use a 5 timeframe for trading.
**Risk Disclaimer:**
This setup is for educational purposes. I'm not responsible for your gains or losses. Check the chart for more details.
NIFTY S/R for 14/10/24Support 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.
NIFTY 50NIFTY-50 Set ups
MTF Analysis
NIFTY Yearly Demand 18887
NIFTY 6 Month Demand Breakout 21801
NIFTY Qtrly Demand Breakout 24174
NIFTY Monthly Demand BUFL 24174
NIFTY Weekly Demand DMIP 24867
NIFTY Daily Demand DMIP DMIP 24858
Daily 3 LLL Trick DDM
Weekly Demand Momentum Impulsive Patterns WDIMP
Daily Demand Momentum Impulsive Patterns DMIPS
ENTRY -1 24858
SL 24771
RISK 87
Taget as per Entry-1 29626
Points to Gain 4,768
Latest Last Swing High 26277
Latest Last Swing Low 23893
ENTRY -2 24521
SL 24174
RISK 347
Taget as per Entry-2 30595
Points to Gain 6,074
Trend Last Swing High 24174
Trend Last Swing Low 21137
#nifty50 outlook for upcoming week 14th-18th Oct 2024The Nifty 50 closed the week at 24,964, a 50-point decline from the previous week. While it touched a high of 25,234, it also dipped to a low of 24,694. As predicted last week, the index remained within the range of 25,600 to 24,400.
Looking Ahead: A Cautious Outlook
For the upcoming week, I anticipate a trading range of 25,550 to 24,350. However, the low of 24,694 is a crucial support level. If the Nifty breaches this, the next strong support lies at 24,400-24,350. A breakdown below this level could signal a potential decline towards 23,300.
A Bullish Monthly Perspective
Despite the recent volatility, my monthly outlook for the Nifty remains bullish. Therefore, I will follow a "buy on dips" strategy.
S&P 500: A Positive Sign
As mentioned previously, the S&P 500 has successfully reached its first Fibonacci target of 5820. To initiate the next leg of its upward movement, it needs to sustain above this level. If it can do so, we could see it touch 5899 or even 6012 (a significant level). This positive momentum in the U.S. market could also provide support to Indian equities.
17 Oct Nifty Game PlanCurrent Market Senario: Sideways to Bullish
Bullish Momentum will come after 25165 reached and 15 min candle closed.
We have to close eye below 25900 if it break 250 point sharp fall may seen.
New Week Scenario. Now this time Nifty is now stucked in a tight range and the just because 25000 is psychological number the buyers and seller both are in mood to take a good opportunity.
If you are a buyer then good momentum in premium may seen after 25165 at 15 min candle closing basis. At that time when nifty crosses 25200 the short covering may lead the spike and long buildup will drag the whole market in upward position so if you a buyer and have small amount of money then wait till then.
Now nifty is in Seller's hand so they always trying to pull the market downside.
Educaitonal and Paper Trade Purpose only
NIFTY OCTOBER 3RD WEEK ANALYSIS Nifty looks bullish, any further retracement would be a buying opportunity , so I'm expecting atleast 500 points rally in nifty . Retracement upto 24550 would keep buy on dips setup intact but if nifty breaches 24550 on the downside then we can expect further bearish momentum
weekly closing below 25000 is not a good sign for Nifty. Weekly closing below 25000 is not a good sign for Nifty. Thus turning our short term outlook a little negative. Medium to long term outlook is still positive with a chance of further consolidation and correction.
If by chance there is a macro event in the Middle East at this particular junction the chances of further consolidation or a 3 to 5% fall is also a clear and present. If there will be recovery it has to be next week or perhaps mid week. Another bout of missile or similar attack can bring volatility in Crude, USD and Gold. This can effect our market negatively. There is also a another stimulus package in line by China for revival of its economy. Already FIIs have migrated enmass to China. The saving grace has been DIIs buying every dip. If DIIs will come in selling mode, Retail can also sell enmass in panic.
This post is not to create panic of any kind in investors. Fundamentals of Indian markets are strong. Reliance result is expected next week. That can be a turning point for good in the market if the results are good and there is no escalation in the middle east. The warning is given here so that you can place stop losses / trailing stop losses in a proper place.
Supports for Nifty are at: 24804, 24416, 23818 and 22990. Below 22990 it will be bear territory. In such a scenario bears can drag the market further down to 21989 or 21197. Corrections are a part of progress cycle as they get PE ratios at an investible / attractive levels.
Resistances for Nifty are at: 25026, 25426 and 25755 before Nifty gains 26K levels again.
A lot depends on macro factors now and result of Reliance next week. Status Quo in Middle East, de-escalation on war front and good Reliance result can burst all bear efforts and can turn the market positive again.
Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
Nifty 50 - maska chaskalets see
The Nifty 50 index on October 11, 2024, showed a mix of positive sentiment with some cautionary trends. The market structure has been largely range-bound, with support seen around 24,950 to 24,900 levels. The index closed slightly higher, reflecting minor gains, but overall, the market is in a consolidation phase. Technical analysis suggest a resistance zone around 25,150–25,300, and if Nifty manages to break above this, there could be an upside towards 25,500–25,600. However, there is also potential for downside movement if the market fails to sustain these levels, with a possible correction toward 24,750–24,700 or even more!
The sentiment remains cautious, as the market is struggling to reclaim its 50-day EMA, showing signs of weakness. Momentum hint at indecisiveness, and analysts are recommending a "sell on rise" strategy until the index stabilizes.
For now, traders seem to be waiting for clearer signals, making the overall sentiment moderately bearish in the short term.
Nifty is WEAK!Nifty has broken the crucial Daily Support zone in the morning itself and looks weak. The intensity of the fall since October beginning is such that I feel we are just witnessing a DEAD CAT BOUNCE! Sorry to all Cat Lovers.
Any bounce will be weak and will lead to fresh selling and lower levels seems all likely to be visited in October itself.
I have taken Puts and will be carrying them overnight.
As per my analysis, Nifty will test the 100 DMA which is at around 24,400 zone. From here another weak bounce and if that too fails, the next support will be around 200 DMA.
This is clear indication of FII selling. No positive news including Haryana election win seems to be helping the market. This clearly means, market is over valued and FIIs will dump money till valuations seem right.
Trade Responsibly!
#NIFTY Intraday Support and Resistance Levels - 11/10/2024Today expected slightly gap down opening in nifty near 25000 level. After opening if nifty sustain above 25000 level then possible upside move upto 25250 level. Below 24950 level there will be strong downside fall possible upto 24700 level. Any major bullish rally only expected in case nifty starts trading and sustain above 25250 level.
A Nifty50 analysis for 11/10/2024A Nifty50 analysis for the today Upside potential and other first go Upside then downside, sideways.
NIFTY : Trading Levels and Plan for 11-Oct-2024Nifty Trading Plan for 11-Oct-2024
Previous Day's Chart Pattern Recap
On 10th October, Nifty opened near support levels and attempted a recovery from the lows, but resistance was strong near 25120 and 25050 . The price action suggests that Nifty might be preparing for a breakout or breakdown based on the opening scenario today. Key zones of resistance and support are well defined, and traders should be prepared for a move in either direction.
Opening Scenarios
Gap Up Opening (+100 points or more):
If Nifty opens with a gap up near the "Resistance for Sideways" at 25,299–25,322, there is a chance for profit booking around the 25,429–25,474 zone. A sustained move above 25,322 could signal further bullish momentum, while failure to hold this level could bring Nifty back down to test the "Opening Resistance" zone at 25,172.
Trade Setup:
- Buy above 25,322 with a stop loss below 25,250.
- Targets: 25,429 and 25,474.
- Look for short opportunities if Nifty fails to break above 25,322.
Flat Opening:
A flat opening around the current price level near 25,008 would put Nifty right at the "Opening Support" zone (24,965–25,008). This could lead to a period of sideways movement before a breakout. A breakout above 25,172 will take Nifty towards 25,299, while a breakdown below 24,965 may result in a test of lower support at 24,900.
Trade Setup:
- Buy above 25,172 with targets of 25,299 and 25,322.
- Short below 24,965 targeting 24,900 and 24,809.
- Wait for a clear breakout before entering any trades, as this scenario could see choppy price action.
Gap Down Opening (-100 points or more):
A gap down could bring Nifty closer to the "Opening Support" at 24,965–24,900. If Nifty holds above this zone, we might see a quick reversal back towards 25,172. However, if Nifty breaks below 24,900, it could test the next strong support near 24,809.
Trade Setup:
- Buy near 24,900 with targets of 25,008 and 25,172.
- Short below 24,900 with targets of 24,809 and 24,750.
- Gap-down scenarios tend to be volatile, so trade cautiously and wait for price confirmation.
Risk Management Tips for Options Traders:
- Avoid entering trades in the first 15-30 minutes to avoid whipsaw movements.
- Use stop-losses that respect key support/resistance zones, especially when trading at-the-money options.
- When volatility is high, consider using spreads (e.g., bull call or bear put spreads) to limit potential losses while maintaining profitability.
- Always set a defined risk level per trade, and do not over-leverage in options trading.
Summary and Conclusion:
Nifty is at a critical juncture with key resistance at 25,172 and support at 24,900. A gap-up could push Nifty towards profit booking zones, while a gap-down may test the lower support levels. Regardless of the opening scenario, patience and proper risk management are essential for capturing the best opportunities. Watch for price action confirmation at key levels before taking a trade.
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.
Trendline resistance continues to halt Nifty. Closing BellThe trend line resistance continues to halt Nifty. Again today after making a high of 25134 Nifty saw selling pressure mostly again from FIIs. This time Nifty closed the day at 24998 below the psychological level of 25,000. This can enable bears to make Nifty test the support zone between 24932 and 24677. The resistance of Nifty are now at 25057, 25134 and 25204 Mother line resistance of 50 hours EMA and 25294 father line resistance of 200 hours EMA. Nifty continues to squeeze between support and resistance trend line and tomorrow can be the day when we can see either a proper upwing or downward move. Above 25294 Bulls will be very aggressive and drive Nifty upwards. Below 24677 Bears will be very aggressive and thrash Nifty downwards.
Strictly do not trade/invest without keeping Stop losses and Trailing stop losses. Stop losses protect your capital and trailing stop losses protect your profits. To know more about stop losses, trailing stop losses, Profit booking and investment in Equity in general or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Which is available in Amazon in Kindle and Paperback version.
Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
11/10/24Support 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.
Nifty 50 Sell in upsideNifty 50 elliot wave analysis one hour chart price move upside corrective wave
Nifty... Keeping simple! Trading within the pattern, either side break would give threshold momentum.
Current intermediate trend is bearish, If nifty break below the important support zone this bearishness would continue further 📉
While on the upperside, Nifty need to break upper area of pattern and travel above 25300 for reversal indication 📈
Title: Nifty 50 | Potential Head and Shoulders PatternDescription:
We are currently observing a classic Head and Shoulders pattern forming on the Nifty 50 index. After a sustained downtrend, the price action has formed a well-defined left shoulder, head, and right shoulder, signaling a potential reversal.
Key Points:
Head and Shoulders Pattern: The index has formed this bearish reversal pattern, which often suggests a possible trend change.
200 EMA Resistance: The price remains below the 200 EMA (marked in red), a major resistance level, which may act as a barrier for further upward movement.
Downtrend Line: Two descending trendlines have been respected multiple times, adding confluence to the idea of a trend shift.
Rejection Zone: The highlighted red box marks a critical resistance area that the index has struggled to break, suggesting a potential move away from this zone.
Levels to Watch:
Support: 24,700 (previous support)
Resistance: 25,300 (above the 200 EMA and resistance zone)
This pattern is a key observation for traders looking to track Nifty 50’s price action. Watch closely for further confirmation before making any decisions!
