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NIFTY trade ideas

This point needed to be broken for a reversal inn NiftyGood Morning Everyone! 31st Oct. 2024, Thursday Many are thinking the market trend is bearish. No, it's definitely down, but not entirely bearish just yet. So be cautious about shorting after 1 pm today. Until then, expect a downmove toward the support at 24,224. However, based on the MACD chart, we may see a rise to the resistance levels at 24,528/24,817. If you get an opportunity to short, be sure to lock in some gains as momentum shifts. Yes, I’m talking about a reversal in NSE:NIFTY . With both Technicals and #Macros aligned, the index seems ready for a reversal. NSE:BANKNIFTY appears to be stuck sideways. However, it looks strong in the second half. Resistance for the day is at 52,200, while support sits at 51,600. Between these range, it’s just the usual options decay game. Look for stocks that have bounced at least 3% from support with solid volume for trading opportunities ahead. That’s all—have a profitable day! 🔴 Disclaimer - Not a Buy/Sell Recommendation.
NSE:NIFTYLong
by Trendxinc
Nifty 50 Trading Shades of GreyI've been trading these shades of grey at 5 minutes for day trade. These haven't failed me yet. You can try to track it and I may actually update it every week. Because these shades are made at a weekly timeframe. I used to be miserable in the beginning but since I learned to make this shaded chart my success rates have improved. You can choose to swing it too by updating your TSL a shaded grey area below. If its hit you can reenter 1 shaded area up again or take a trade in the opposite direction. I majorly trade options and was very unprofitable before I stumbled upon this. I'll make a indicator out of it soon.
NSE:NIFTY
by Prakash-Mandal
2
NIFTY : Trading Levels and Plan for 31-Oct-2024 Intro: On the previous trading day, Nifty exhibited a mix of consolidation and upward momentum, with notable resistance zones tested near 24,594 . Key levels for 31-Oct-2024 have been identified, with trends marked as follows: yellow for sideways movement, green for bullish momentum, and red for bearish sentiment. This plan provides strategies for different opening scenarios. Trading Plan for 31-Oct-2024 Gap Up Opening (100+ points above) If Nifty opens 100+ points above the previous close, it may test the First Resistance/Consolidation Zone near 24,594 . If the index sustains above this level, we may see a push towards the Profit Booking Zone at 24,694 . However, if it struggles to hold above 24,594 , expect a retracement towards the Opening Support/Resistance level at 24,320 . – A reversal from the resistance levels could prompt a move back to the Support at Retracement at 24,163 . Flat Opening (within 50 points of the previous close) For a flat opening, the key level to watch is 24,349 . Sustaining above this point could lead to a breakout, targeting 24,594 and possibly extending towards the Profit Booking Zone at 24,694 . Conversely, if momentum fails above 24,349 , Nifty might move sideways around 24,320 or even test the lower support at 24,285 . – A downside break below 24,285 could increase bearish pressure, with potential support found at 24,163 . Gap Down Opening (100+ points below) In a gap-down scenario, initial support may be found near 24,285 . A rebound from this level could bring the price back toward 24,349 . If the index sustains above 24,349 , bullish momentum could retest the resistance at 24,594 . However, if 24,285 fails to hold, a decline towards Support at Retracement near 24,163 is likely. – Persistent weakness below 24,163 might drive further downside towards the Last Intraday Support at 24,040 . Risk Management Tips for Options Trading Manage your position sizes wisely, especially when volatility is high. Consider deploying trailing stops near major resistance/support levels to protect gains. Options spreads can limit risk exposure, which is particularly useful in a choppy market. Summary and Conclusion The primary focus for 31-Oct-2024 remains on the resistance at 24,594 and support at 24,163 . Traders should stay flexible with these levels and use disciplined stop-loss strategies to manage risks. Observing the price action after the opening will provide better insight into the day’s trend. Disclaimer: I am not a SEBI-registered analyst. This analysis is based on technical levels and reflects my personal view. Please perform your own analysis or consult a financial advisor before trading.
NSE:NIFTYLong
by LiveTradingBox
50 Hours EMA and Trendline resistance again stop Nifty progressAgain The Mother line (50 Hours Resistance) and trendline resistance threw spanner in the growth effort of Nifty. Till Mother line and trendline thereafter is not crossed we can't reach Father line resistance which is at 24853. Supports for nifty remain at 24307, 24173 and finally 24073. Below 24073 Nifty will become very weak and bears will spell further doom. Resistances on the upper side remain at the zone between 24448 and 24513 (tough to conquer Mother line and Trend line resistance respectively), 24613, 24730 and 24853. Above 24853 the critical resistance will be the zone between 24860 and 24971. Bulls can come back into the game after the close above 24971. Above 24971 Bulls can create an upward rampage. Tomorrow is a very critical day where Nifty going into November needs to close above 24513 or atleast above 24448. Signs are looking little difficult for Nifty with a negative shadow of the candle but festive buying can bring back the bulls in action hopefully. . To know more about Techno-Funda investment, Mother-Father and Small Child theory, Happy Candles Number read my book The Happy Candles Way to Wealth Creation. Gift it to yourself or your special ones this festive season. 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.
NSE:NIFTY
by Happy_Candles_Investment
NIFTY S/R for 31/10/24Support 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 50 view 30th octNifty Day chart view 30th Oct Todays high 24498.. which indicates maximum writing happened in 24500 ce for sometime... Now cmp 24380... Todays low is also important 24337. Break below 24337 which will create Doji pattern in Daily Time Frame. Chance for ABCD harmonic pattern and target of minimum of 23930 Todays high 24498.. Break above and sustain then chance to create Falling Wedge pattern which indicate upward movement in short time frame. Charts for Educational purposes only. Not a Trading Recommendation. Thanks, Vichithra.
NSE:NIFTYLong
by vichithra
Nifty is stuck in a RangeAlthough BN showing Bullishness yesterday, Nifty is still stuck in a range. While people might think that some kind of triple bottom is formed, I will look to play it on a weekly basis. For this week's expiry, my view is that Nifty is stuck in the range between 24,000 on the downside and 24,800 on the upside. I took straddle position yesterday afternoon and will look to carry it forward till expiry looking to pocket some premiums. Sold 07th Nov 23800 PE & 07th Nov 24850 CE Other than this, if I see the scope of any intraday action, then I might take that as well. PS - Not a recommendation. It is advisable to do due diligence before taking trades.
NSE:NIFTY
by Sky_Tracer
NIFTY : Trading Plan and Levels for 30-Oct-2024 Intro: On the previous trading day, Nifty demonstrated a robust recovery from the exact level that mentioned as last intraday support in yesterday plan, with the price reaching new resistance levels and showing strong buying momentum. Key zones have been established for tomorrow's session, with yellow indicating a sideways trend, green showing a bullish trend, and red representing a bearish trend. Here’s a strategy based on different opening scenarios. Trading Plan for 30-Oct-2024 Gap Up Opening (100+ points above) If Nifty opens with a 100+ points gap up, it is likely to encounter resistance near the 24,564 level, marked as the Resistance for Sideways/Retracement at BoS zone . If the index sustains above this level, we could see an upward movement toward the Profit Booking Zone around 24,758 . However, if it fails to hold above 24,564 , expect a retracement towards 24,485 or the Opening Support level at 24,409 . – A strong reversal from the resistance levels could lead to a test of the Buyers Support at retracement at 24,312 . Flat Opening (within 50 points of the previous close) With a flat opening, focus on the price action near the 24,454 level. A breakout above 24,485 could initiate a bullish run towards 24,564 and eventually towards the upper resistance level at 24,758 . However, failure to maintain momentum above 24,454 could result in a sideways pattern around 24,409 (Opening Support) or even a potential downward trend towards 24,312 . – A break below 24,312 would indicate further weakness, aiming for the Last Intraday Support at 24,214 . Gap Down Opening (100+ points below) In a gap-down scenario, Nifty is likely to find initial support at 24,312 . If this level holds, there might be a bounce back towards 24,454 . Sustaining above 24,454 could shift the sentiment towards bullish, aiming for 24,564 as the next resistance. However, if 24,312 fails to provide support, expect further declines towards the Last Intraday Support at 24,214 . – Any continued weakness below 24,214 could lead to additional selling pressure. Risk Management Tips for Options Trading For options trading, keep position sizes manageable, especially on high-volatility days to reduce exposure to unexpected swings. Use trailing stops to protect profits, particularly when the index approaches major resistance/support levels. Consider deploying options spreads to limit risk, especially if the market appears choppy. Summary and Conclusion For 30-Oct-2024, the primary focus remains on the 24,564 resistance level and 24,312 as a critical support. A flexible approach to price action around these zones, combined with disciplined stop-losses, can help manage risks effectively. Monitoring the initial price action is essential to gauge the trend for the day. Disclaimer: I am not a SEBI-registered analyst. The analysis above is based on technical levels and reflects my personal viewpoint. Please perform your analysis or consult a financial advisor before making any trading decisions.
NSE:NIFTY
by LiveTradingBox
NIFTY S/R for 30/10/24Support 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
U shape recovery on cards for Nifty. There is a chance of U shape recovery on Nifty if it is able to beat Mother and father line resistance. Today we saw a swift recovery by Nifty after making a low of 24140. Nifty closed at 24466. That was a recovery of 326 points which is quite remarkable. The only negative point was the close which is 2 points below the Mother line resistance of 50 Hours EMA at 24468. With this close if we can get an opening above Mother line tomorrow and if Nifty sustains above it we can see further swift recovery till Father line of 200 Hours EMA which is at 24887 with a trend line resistance at 24613. Nifty Resistances remain at: 24468 (Strong Mother Line Resistance) , 24613(Strong Trend Line Resistance), 24887 (strong Father Line resistance), 24917 and 25204. Above 25204 Bulls can come back aggressively. Nifty Supports Remain at: 24349, 24173 and 24073. Below 24073 Bears can get very aggressive in dragging the market downwards. To know more about Mother, Father and Small child theory and it's correlation to stock price and 50 and 200 days EMA read my book. The Happy Candles Way to wealth creation available on Amazon in Paperback and Kindle 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.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty 50 Index - Head and Shoulders Pattern with Fibonacci ** Introduction :** The Nifty 50 Index on the NSE has shown a clear head and shoulders pattern on the 1-day time frame, followed by Fibonacci retracement levels drawn on the 4-hour time frame. This combination of technical analysis tools provides valuable insights for traders looking to predict potential price movements. ** Head and Shoulders Pattern: ** The head and shoulders pattern is a reliable indicator of a potential trend reversal. In this case, the pattern suggests a bearish reversal: - **Left Shoulder:** The initial peak before the highest peak (head). - **Head:** The highest peak in the pattern. - **Right Shoulder:** The lower peak after the highest peak (head). The neckline, drawn at the lowest point between the shoulders, acts as a critical support level. A confirmed breakdown below this neckline indicates a strong sell signal. ** Fibonacci Retracement Levels: ** Fibonacci retracement levels help identify potential support and resistance levels where the price might react: - **0.00% at approximately 26,200.00 INR** - **23.60% at approximately 25,600.00 INR** - **38.20% at approximately 25,400.00 INR** - **50.00% at approximately 25,000.00 INR** - **61.80% at approximately 24,600.00 INR** - **78.60% at approximately 24,200.00 INR** - **100.00% at approximately 23,800.00 INR** ** Price Prediction:* * Given the head and shoulders pattern, the Nifty 50 Index is likely to experience a downward trend if the price breaks below the neckline. The Fibonacci retracement levels provide additional support levels where the price might stall or reverse. Traders should watch for key levels such as 25,000.00 INR and 24,600.00 INR. ** Conclusion :** Combining the head and shoulders pattern with Fibonacci retracement levels offers a comprehensive approach to predicting price movements in the Nifty 50 Index. Traders can use these tools to make informed decisions and manage their trades effectively. Proper risk management and position sizing are essential to maximize profits and minimize losses.
NSE:NIFTYShort
by stocktechbot