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NIFTY trade ideas

Elliott Wave View on Nifty Remains Bullish Against August LowShort Term Elliott Wave view on NIFTY suggests that rally to 25078.3 ended wave ((3)). Pullback to 23900 ended wave ((4)) with internal subdivision as a zigzag Elliott Wave structure. Down from wave ((3)), wave (A) ended at 24723.7 and rally in wave (B) ended at 24835.10. Wave (C) lower ended at 23900.8 which completed wave ((4)) in higher degree. The Index has turned higher in wave ((5)). Internal subdivision of wave ((5)) is unfolding as a 5 waves impulse. Up from wave ((4)), wave 1 ended at 24472.8 and pullback in wave 2 ended at 24099.7. Index then resumed higher as a nest. Up from wave 2, wave ((i)) ended at 24403.55 and wave ((ii)) ended at 24204.50. Wave ((iii)) higher ended at 25129.6 and wave ((iv)) ended at 25017.5. Wave ((v)) higher ended at 25174.55 which completed wave 3 in higher degree. Pullback in wave 4 ended at 24998.50. Final leg wave 5 ended at 25333.65 which completed wave (1) in higher degree. Wave (2) pullback is in progress to correct cycle from 8.5.2024 low in 7 swing before it resumes higher. Down from wave (1), wave W ended at 24753.15 and wave X ended at 25130.50. Expect wave Y to extend lower to correct cycle from 8.5.2024 low in 7 swing before it turns higher. As far as pivot at 23900.88 low stays intact, expect pullback to find support in 3, 7, 11 swing for more upside.
NSE:NIFTY
by Elliottwave-Forecast
1
Mid-Channel Resistance stopped Nifty growth todayAfter remaining positive and buoyant the full day Mid-channel resistance came to force and stopped Nifty from further growth today, dragging it down from day's high of 25130. The closing is good and above Mother line (50 days EMA). To know more about Mother, father and small child theory and Happy Candles numbers that we assign to stocks read my book The Happy Candles way to wealth creation. The book is available on Amazon in paperback and Kindle version. The supports and resistances for Nifty now are as under: Supports for Nifty remain at: 24034 (Mother Line support), 25005, 24832, 24807 and finally 24527. Resistances for Nifty remain at: 25130, 25192, 25273 and 25333. Shadow of the candle right now is neutral to positive.
NSE:NIFTY
by Happy_Candles_Investment
NIFTY : TRADING LEVES FOR 11-SEP-2024 Trading Plan for 11-Sep-2024: Gap-Up Opening (100+ points above previous close) If Nifty opens above 25,201 with a 100+ points gap: - The price may challenge the 25,321 resistance level, which is an important zone for a new high. - Watch for a possible profit-booking or reversal around 25,321. - If Nifty fails to hold above 25,201, it could retrace towards the 25,052 support. - Ideal trade: Wait for an hourly candle close above 25,201 for long positions, targeting 25,321. - Stop loss: Below 25,201 on a closing basis. - Target: 25,321 for upside; if reversed, look for support at 25,052. Flat Opening (near previous close) If Nifty opens around 25,052 to 25,038: - The immediate resistance level to watch will be 25,201, which is crucial for trend reversal. - A break above 25,201 could drive Nifty towards 25,321, opening up room for further upside. - However, if Nifty fails to breach 25,201, it may see some consolidation or retracement towards 25,038 and lower to 24,942. - Ideal trade: Initiate long positions above 25,201, or short positions if the price faces rejection at this level. - Stop loss: Below 25,038 for long trades; above 25,201 for shorts. - Target: 25,321 for longs; downside targets are 24,942. Gap-Down Opening (100+ points below previous close) If Nifty opens below 24,942 with a gap of 100+ points: - The immediate support level to watch will be 24,833. - If 24,833 breaks, expect further selling pressure, with 24,710 acting as the next important support. - A strong bounce from 24,833 could provide buying opportunities, but a breakdown could lead to an extended sell-off. - Ideal trade: Go long near 24,833 with a strict stop loss, or short if it breaks decisively. - Stop loss: Below 24,833 for longs. - Target: Upside recovery towards 25,029; downside target is 24,710. Risk Management Tips for Options Traders: - For gap openings, use caution while selling options, as volatility can be high. - Consider buying options around key support and resistance levels to limit risk. - Use spread strategies to manage risk, especially in uncertain market conditions. - Avoid over-leveraging; maintain a proper risk-to-reward ratio when entering trades. Summary and Conclusion: Nifty has key resistance levels at 25,201 and 25,321, where a breakout could lead to a new uptrend. On the downside, supports around 24,942 and 24,833 are crucial for maintaining the bullish structure. Both gap-up and gap-down openings provide significant trading opportunities, but confirmation through price action is essential. Options traders should focus on hedging strategies and maintain a disciplined approach to avoid being caught in rapid market swings. Disclaimer: I am not a SEBI registered analyst. The above analysis is for educational purposes only. Please consult your financial advisor before making any trading decisions.
NSE:NIFTYShort
by LiveTradingBox
NIFTY INTRADAY LEVELS FOR 11 SEP 2024BUY ABOVE - 25080 SL - 25020 TARGETS - 25130,25190,25240 SELL BELOW - 25020 SL - 25080 TARGETS - 24960,24910,24860 NO TRADE ZONE - 25020 to 25080 Previous Day High - 25130 Previous Day Low - 24910 Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. Please NOTE: this levels are for intraday trading only. Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. Request your support and engagement by liking and commenting & follow to provide encouragement HAPPY TRADING 👍
NSE:NIFTY
by Jagadheesh_JP
NIFTY 50 KEY LEVEL 11/09/2024**Explanation:** This trading system helps you avoid blind trades by providing confirmation for better entries and exits. It considers volume, past prices, and price range. **Entry/Exit Points:** - **Entry/Exit Lines:** Use the GREEN 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 GREEN line above. - **Take Profit:** For long trades, target the next RED line above. For short trades, target the next GREEN 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.
NSE:NIFTY
by nandupk
Chart Analysis: Potential Buy EntryThe provided chart depicts a bullish market structure for . A significant 1H order block at the 24,990 - 25,020 level offers strong support, reinforced by a recent retest. Additionally, a smaller 15M order block at 24,880 provides further support. A Choch pattern is forming, suggesting a potential reversal or continuation of the uptrend. Given these indicators, a potential buy entry near the 1H order block is considered. Trade Recommendation: Entry: Consider a buy order near the 24,990 - 25,020 level. Stop-Loss: Place a stop-loss below the 15M order block at 24,880. Strategy: A scalping strategy might be suitable due to the potential for short-term price fluctuations. Key Considerations: Market Context: Evaluate broader market trends and economic factors. Confirmation: Seek additional technical indicators to reinforce the bullish signal. Risk Management: Implement a robust risk management plan, including stop-loss orders. Remember, this analysis is based on the provided chart. Always conduct thorough research and consider your individual risk tolerance before making any trading decisions.
NSE:NIFTYLong
by Trade_With_Prakash
Nifty RSI Super-Heated to 83% - Crash Coming ????On the Quarterly chart - the RSI indicator on Nifty is showing a value of 83% or more indicating it's in Over Bought Zone Back in Jan 2008, the RSI went to a high of 87% and Nifty subsequently crashed -52% from the Highs. After 16 years, the RSI on Nifty is climbing up beyond the 83% mark which indicates "Danger of a Correction" according to many Expert Analysts from Media Channels, Twitter and Telegram Please forward the below analysis to All those Pessimistic Technical Super-Zeroes -------------------------------------------------------------------------------------------------------------------- I say - What a "Ridiculous" Comparison of 2008 vs 2024??? The entire Technology world looks toward India as a Hub of Technical Brains, but those brains are just filled with Age-old Folklores and Pessimism. Technical Analysis is NOT a Geometry class to connect 2 dots from 20-30 years ago and say we had the similar situation back then and there was a Crash and the same thing will Repeat now. The entire market Dynamics has changed a lot. 1. First of all what's an Indicator? An Indicator is nothing but a Human written Algorithm (A Script) which consumes Buyers & Sellers Activity and volume of trades historically and does some simple "math". How does this Dumb Number Crunching algorithm understand external factors? 2. What Really Caused the fall in 2008? Think again closely - The 2008 crash was a Global Catastrophe caused by the Massive Conspiracy and Bankruptcy of Lehman "Buggers" (Brothers) in US which had a world wide impact. For those Technical Pundits who believe 2008 fall was due to RSI - read the Analysis below fully In this image - there is a comparison of Nasdaq Vs Nifty 50 between 2000 to 2008 and the RSI line is that of Nasdaq (not Nifty) In 2000, the market fell so badly in US and the RSI was around 98%. But in 2008, look at the RSI - it was hovering around the Healthy 60% mark which is treated as the Golden Levels of "Fresh Entry" by most technical analysts But US & the entire world crashed in 2008 due to Lehman Brothers issue - As the subprime mortgages underlying these securities began to default at alarming rates, investor confidence plummeted leading to a loss in trust in Lehman Brothers. Unable to fully recover all of their losses, Lehman Brothers were forced to file for bankruptcy Nifty was trading at RSI 90% back then, but US was trading at 60% RSI. So the fall here is NOT because of Indian RSI - but due to a Global event. RSI is like a Speedometer - it just indicates that you are driving at 80 / 100 and in every vehicle speedometer - there will be a RED zone which indicates Dangerous driving conditions. Does not mean, the Engine will fail. It just says that driving so fast is not safe. We should learn to do a Full Analysis - not just a Half-baked one connecting some dots with something else claiming Technical superiority Nothing is going to happen to US especially NOTHING will every happen to Indian Market until Apr 2028 where Nifty will face a 34 year long Parallel Channel Resistance as indicated in the main chart Disclaimer: Stocks-n-Trends is NOT registered with SEBI. We do not provide Buy / Sell recommendations - rather we provide detailed analysis of how to review a chart, explain multi-timeframe views purely for Educational Purposes. We strongly suggest our followers to "Learn to Ride the Tide" and consult your Financial Advisors before taking any positions. If you like our detailed analysis, please do rate us with your Likes, Boost and share your comments -Team Stocks-n-Trends
NSE:NIFTYLong
by Stocks-n-Trends
NIFTY INTRADAY LEVES FOR 10/09/2024BUY ABOVE - 24960 SL - 24910 TARGETS - 25020,25080,25130 SELL BELOW - 24860 SL - 24910 TARGETS - 24800,24740,24700 NO TRADE ZONE - 24860 to 24960 Previous Day High - 24960 Previous Day Low - 24750 Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. Please NOTE: this levels are for intraday trading only. Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. Request your support and engagement by liking and commenting & follow to provide encouragement HAPPY TRADING 👍
NSE:NIFTY
by Jagadheesh_JP
2
NIFTY S/R for 10/9/24Support 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: 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
Strong comeback by Nifty indicating temporary bottom formation.Nifty today came back strongly after taking support from Father line of 200 EMA and trendline. The support of Father line will be confirmed if we get a positive and strong closing tomorrow. The supports as of now for Nifty remain at 24790 and 24753 (Today's low and trend line support). If by chance FED will not announce a big rate cut, Nifty may again go support searching. If 24753 is broken the next support will be only at channel bottom near 24527. Shadow of the candles as of now remains positive and resistances for the Nifty is in the zone between 25005 and 25033 (Mother line 50 Hour's EMA). If we get a closing above 25033 the next resistances for Nifty will be at 25192, 25273 and 25333. See how Father line support saved Nifty today. To know about Father, Mother and the small child theory you can read my book The Happy Candles Way to wealth creation. The book is available on Amazon in paperback and Kindle version.
NSE:NIFTYLong
by Happy_Candles_Investment
NIFTY - Strategy and Levels for 10-Sep-2024On 9th September 2024, Nifty displayed a consolidation pattern with resistance around the 25,064 level and support near 24,699. The market showed some recovery signs as it climbed from the lows around 24,700 levels to test resistance near 24,942.25. This brings us to a critical juncture where the market could break out in either direction, especially depending on the opening on 10th September 2024. With multiple resistance levels overhead and supports underneath, traders should be cautious in planning their trades. Let's discuss a trading plan for different opening scenarios. Trading Plan for 10th September 2024 Gap Up Opening (100+ points above closing) If Nifty opens above 25,064 (Opening Resistance) but below 25,201 (Important Resistance for Trend Reversal): - Wait for a pullback toward the 25,064 zone and check if it holds as support. - Go long with a target of 25,201 and stop loss just below 25,038. - If the market rejects the 25,064 resistance and turns bearish, shorting with a target of 24,945 (Opening support for sideways) would be a safer option. If Nifty opens above 25,201 (Important Resistance for Trend Reversal): - The momentum would likely shift to a bullish trend. Enter long after confirming the breakout holds. - The next possible target could be around 25,240–25,280 levels. - Keep a tight stop loss below 25,064 to manage risk in case of a false breakout. If Nifty shows immediate weakness after gap up and breaks below 25,064: - Avoid aggressive long positions and wait for a retest of support levels at 24,945 or 24,849 for a bounce. Flat Opening If Nifty opens near 24,945 (Previous close): - Wait for the market to pick a direction; the first 15–30 minutes could be crucial for setting the trend. - Go long only if the market sustains above 24,945, with a target of 25,064 and stop loss below 24,896.22. - For a short trade, if the market dips below 24,896.22, target 24,849 and stop loss above 24,942.25. If Nifty stays range-bound: - Be cautious of sideways moves. Focus on scalping trades within the range of 24,945–25,064. - Look for a breakout above 25,064 or breakdown below 24,849 for a stronger directional move. If volatility spikes during the day: - Use pivot levels 24,945 and 25,064 to determine trend continuation or reversal. Adjust your trades accordingly. Gap Down Opening (100+ points below closing) If Nifty opens around 24,849 (Support at retracement): - This could act as strong support, providing a good entry point for long trades if the level holds. - Go long with a stop loss just below 24,849 and aim for 24,945 as the first target. - If 24,849 doesn’t hold, short the market with a target of 24,729 and a stop loss above 24,849. If Nifty opens below 24,849 but above 24,699 (Buyer’s support): - Wait for market stability before entering long positions. - Go long with a tight stop loss below 24,699, and target 24,849 first. If Nifty opens below 24,699 (Buyer’s Support): - The bearish trend could continue, leading to further downside. - Short positions are favorable with targets near 24,600–24,620, and stop loss above 24,729. Risk Management for Options Trading - Use options with limited risk, like buying calls or puts rather than shorting options to avoid unlimited risk. - For gap scenarios, wait for the first 15 minutes before entering positions as market trends can reverse quickly. - Maintain a risk-reward ratio of at least 1:2 on every trade. - Do not over-leverage; keep position sizes small, especially in volatile markets. - Consider hedging strategies such as buying protective puts or calls when trading in highly volatile scenarios. Summary and Conclusion The Nifty is currently at a pivotal point with clear resistance at 25,064 and critical support at 24,849. The direction of the market on 10th September 2024 will heavily depend on the opening scenario. For gap-up openings, cautious long trades are recommended as long as resistance levels are respected. For flat or gap-down openings, it’s important to observe how support levels hold before making trades. Managing risks, especially with options, will be crucial in a volatile environment. Disclaimer: I am not a SEBI-registered analyst. All views expressed here are for educational purposes only. Please consult your financial advisor before making any trading decisions.
NSE:NIFTYLong
by LiveTradingBox
Nifty Short, Medium & Long Term : 09-Sep-24 to 13-Sep-24Nifty Short, Medium & Long Term : 09-Sep-24 to 13-Sep-24 Nifty closed at 24855 ( Last week 25235 ) and touched low & high of 24807-25335 ( all time high) Market touched new high last week and went down on last fri, Market broke the Ist Support at 25000 and went down last week and currently it is in rangebound. RSI and stochastics levels moved up last week (52% and 33% respectively). MACD level crossed and went down below signal. Nifty 24855 Short term (Short term neutral, need to cross key resistance 25545) Nifty short term resistance 25545 as shown in chart. Support at 24480 (Fib Support) & 24650 (Trend line support and recent low). Medium Term 25235, next target is 25800 ( Fib Resistance). if it moves above decisively next target is 26250. Medium term Support - 24000 Long Term : Nifty have a target of 27000 ( Fibonacci Resistance). If market close above 25540 decisively. Support at 22800 Post Indian Elections, reduction of interest rate by RBI is expected on a staggered manner till it reaches 5% ( in span of 2-3 years ) in line with US fed rate reduction expected in Sep 2024. US President Election scheduled in Nov 24. Until then Market may correct if any global news upto19500 as there is strong multiple fib support in this range. Caution to be emphasized on Nifty as nifty PE is in high level with high valuation especially in Mid cap & Small Cap. Those with lesser risk can sell partial portfolio ( 20-30%) stocks which have less valuation and can wait for opportunity to buy when nifty dips upto 22800. This is the best period to start SIP MF when the valuation is high. Deploy stop loss of upto 7%-8% which is crucial. More Risky players can have stop loss of trend line resistance of 23750 as shown in the chart. Nifty bank 50582 (Last week 51117) - Index have target of 54000 in medium term and support at 49900 Stock Picking is needed at current scenario in Bank, auto, Pharma stocks. Newly added stocks to buy are CAMS, UTI AMC & HDFC AMC and removed tanla platform from the list as the profit is stagnated, to await till next quarter ( Q2) Results. Based on the Q1 results, following stocks can be added to portfolio: ICICI Bank, HDFC Bank, Indian Bank & Punjab National Bank. Fundamentally good stocks can be added as it posted good results on every dip in finance stocks such as Manappuram Finance, suryoday small fin, Motilal Fin, Chola Finance, Dr Reddys, Natco Pharma, Cipla, JK Cements, Biocon, Persistent Sys, PI Ind, PNC Infra and Ashoka Buildcon. There is a possibility of dip to 21000-22000, hence please buy in parcels and every dip of Index and every dip of individual stocks (2-5% of portfolio on each purchase for long term) The above stocks mentioned are based on analysis of top line & Bottom line performance, hence based on the risk and portfolio mix one can add after analysis. Nifty IT 42234 (Last week 42760) indices dipped to 37848 in Jun month, bounced back and all time high last week. Recovery of US stock market and awaiting FED rate cute decision pushed the US stocks up and followed by Nifty IT Index.
NSE:NIFTY
by karthikss
NIFTY S/R for 9/9/24Support 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: 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