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Nifty 50 Index

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NIFTY trade ideas

NIFTY : Trading Levels and Plan for 29-Oct-2024 Intro: On the previous day, Nifty displayed a upward movement from the provided levels in yesterdays trading plan and minor fluctuations within key levels. The chart illustrates potential sideways movement in yellow , an expected bullish trend in green , and a bearish trend in red . For today's trading, we will observe various opening scenarios and outline strategies accordingly. Trading Plan for 29-Oct-2024 Gap Up Opening (100+ points above) If Nifty opens with a 100+ points gap up, it is likely to face resistance near the 24,453 - 24,563 range, which is marked as the Opening Resistance / No Trade Zone . Observe price action here. If Nifty sustains above 24,563 , it may target the Profit Booking Zone around 24,715 - 24,759 . However, if it fails to break above the resistance, expect a potential retracement towards the Opening Support at 24,282 . – In case of strong selling pressure, Nifty could pull back further, aiming toward 24,162 as a potential support. Flat Opening (within 50 points of the previous close) With a flat opening, focus on the initial 30 minutes to gauge market sentiment. If prices sustain above the 24,453 level, we may see a push toward 24,563 . A breakout above 24,563 will likely lead to a bullish trend targeting Profit Booking Zone at 24,715 - 24,759 . However, if it fails to sustain above the No Trade Zone , expect sideways movement or a dip toward 24,282 . – Any move below 24,282 could potentially extend towards 24,162 , testing the Last Intraday Support level. Gap Down Opening (100+ points below) In a gap-down opening, monitor the 24,282 level as the immediate support. If it holds, Nifty may attempt to retest the Opening Resistance Zone around 24,453 . A breakout above this level could bring sideways or bullish momentum up to 24,563 . Failure to reclaim 24,282 may lead to further downside pressure, potentially pulling prices to the Last Intraday Support at 24,162 . – Watch for price stability around 24,162 if it is reached, as this may serve as a potential reversal point. Risk Management Tips for Options Trading Consider setting a defined stop-loss for each options position based on volatility levels; hourly candle closes can be useful for managing intraday risk. Avoid over-leveraging. In options trading, position sizing should reflect the inherent risk and potential for quick price changes. Utilize trailing stops to lock in profits if Nifty moves favorably. This is particularly effective in highly volatile sessions. Summary and Conclusion Today, focus on the key zones: 24,453 - 24,563 as resistance and 24,282 as support. A break above or below these levels could set the day's trend. Use a balanced approach, aligning with the prevailing sentiment indicated by the chart structure. Disclaimer: I am not a SEBI-registered analyst. This analysis is based on personal views and technical parameters. Please conduct your research or consult a financial advisor before making any trading decisions.
NSE:NIFTY
by LiveTradingBox
Technical bounce in Nifty today, recovery can be a long processToday what we saw can be called as technical recovery by Nifty in the process of bottom formation. Actual recovery can still be a long process. Bulls can be back inn business only if we get a closing above mother line of 50 days EMA that is at 24898. 24898 is a critical level because mid channel resistance for the current parallel channel as well as Mother line. Whether Nifty can weather the storm and move ahead is only a question which time will answer in the short term. Long term investors can see current situation as partial entry zone for large and mid-caps which have given a good result this quarter or are giving a good result. Supports for Nifty remain at: 23865, 23684, 23464 (Father line Strong support 200 days EMA) and 23626 (Strong Parallel Channel Bottom Support). Resistances for Nifty Remain at: 24492 (Today's high and strong Trend line resistance), 24679, 24898 (Strong Mid-channel and Mother line resistance of 50 days EMA), 25221 and 25623. Strong momentum and positive action has potential to take Nifty back to 26K+ levels. As on date even after strong resilience shown by Nifty FIIs are still on the selling side as they were net sellers of Equity worth Rs.3228 Crores. DIIs and Retail investors have been on the buying side at every dip. This is what is not allowing the Nifty to fall currently beyond 200 days EMA. Let us see who given in first. Very interesting tussle going on between FIIs and DIIs + Retail investors combination. Shadow of the candle for tomorrow is neutral to slightly positive but it is hanging by a thin thread. (Approach for long term should be cautious but positive. Approach for short term is still very cautious as we are not out of deep waters).
NSE:NIFTY
by Happy_Candles_Investment
Nifty 50 views as the ended 28/10/2024By the last Friday nifty has achieved a target reaching the monthly support zone. Positionally nifty weekly significant zone is far to near to be breached, in coming week. Naturally Nifty 50 attempted it with due deligence but in the end failed to achieve it clean. Bank Nifty the major component of Nifty 50, has all together a different structure monthly and weekly also. Also, it has a pending target of reaching an important monthly support. Conclusion: There were no surprises in both the indices as such, every thing was normal and within understanding levels.
NSE:NIFTY
by AMGO_Markets
NIFTY S/R for 29/10/24Support 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 outlookEuphoria phase is completed in the Market Sentiment Cycle On 25th Oct. '24 Nifty RSI has closed below 30, we may see a bounce during this week or next. But this will only be a bull trap. Once 23,800 is taken out decisively on the down-side, then before the end of Dec. '24 we will see Nifty test 22,700-23,500. I'm still holding 30% cash from the stocks which I exited on 11th Oct. Only once Nifty tests 22,700-23,500 I will assess the situation to buy or keep holding cash. For me this is currently a "No Trade Zone".
NSE:NIFTY
by Imran_I_Ahmed
Nifty Short, Medium & Long Term : 28-Oct-24 to 01-Nov-24Nifty Short, Medium & Long Term : 28-Oct-24 to 01-Nov-24 Nifty closed at 24192 (Last week 24854) and touched high & low of 25971-24197 RSI ,Macd and stochastics levels are down to the bottom. market Broke the key short term support at 24560 and went down. Last week Market was down as expected by more than 700 points but slightly recovered on last day of trading of the week similar to previous week. FII pulled out money and investing in China, Japan in Oct 2024. Indian Stock Valuation after Q2 results, Middle East tension are the reason for the fall. Caution was emphasized on Nifty for last 4 months as nifty PE ( Currently 22.8) is in high level with high valuation especially in Mid cap & Small Cap. Mutual Funds SIP shall be invested as the goal is for more than 5-10 years at this critical period as the valuation is high and advised 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. Fundamentally good stocks to be invested at these time. My Stock Pick will be provided in this week. Nifty 24854 Short term ( Short Term : Neutral) Nifty short term resistance 24450 & 25365 Support at 24000, 23885 Medium Term next target is 25750 ( if move up decisively above next target is 25370), 26268 ( all time high), 26968 Medium term Support 22800. Long Term : Nifty have a target of 27740, 28000 & 28190 ( Fibonacci Resistance). Support at 21900
NSE:NIFTY
by karthikss
NIFTY 50 KEY LEVELS FOR 28/10/2024//@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.
NSE:NIFTY
by nandupk
NIFTY : Trading Levels and Plan for 28-Oct-2024Nifty Trading Plan for 28-Oct-2024 **Previous Day Recap**: Nifty experienced volatility yesterday, with a downward bias. Major support levels held around the **24080-24100** mark, indicating potential buying interest. However, resistance levels remain active, with **24,276** serving as a pivot zone. For today, trends are illustrated as follows: - **Yellow** trend signifies a sideways market. - **Green** trend indicates a bullish outlook. - **Red** trend reflects a bearish sentiment. Opening Scenarios for 28-Oct-2024 Gap Up Opening (+100 points or more) If Nifty opens with a gap up of 100+ points: - Immediate resistance can be seen at **24,276**. A break above this may push the index towards the **24,392** level, which acts as the Last Resistance for Intraday . - Consider booking profits if Nifty approaches the **24,531 - 24,589** zone (highlighted as Profit Booking Zone ) as sellers might attempt to re-enter. - If resistance at **24,276** holds and shows weakness, expect a potential pullback towards **24,143** for support. Flat Opening In case of a flat opening near **24,210**: - Initial support is at **24,191**, followed by a stronger base around **24,143**. - If Nifty moves up from these levels, the next resistance can be expected at **24,276**. Watch closely for consolidation in this area, as a breakout could trigger a rally toward **24,392**. - A failure to hold support at **24,143** could signal a downtrend, targeting **23,998** and below. Gap Down Opening (-100 points or more) For a gap down opening of -100 points or more: - Initial support will likely emerge around **23,998**. If this holds, a bounce is expected toward **24,143**. - If **23,998** breaks, the next significant support level sits at **23,740**, marked as the Possible Bottom Zone for Current Trend . This is a critical level; a breach could lead to a deeper correction towards **23,590**. - A recovery from this lower level may indicate reversal buying, ideal for intraday long positions up to **24,086**. Risk Management Tips for Options Trading: - Always define your stop-loss levels based on the nearest support/resistance zones to manage risk effectively. - Avoid aggressive positions in high-volatility scenarios like gap openings. Start small and scale up if the trend confirms. - Be cautious of time decay when trading options, especially if the price is near critical support or resistance zones. - Consider hedging positions if holding overnight, given the volatility in global markets. Summary and Conclusion For 28th October 2024, key zones to watch are **24,276** on the upside and **23,998** on the downside. A breakout or breakdown from these levels could determine the day’s trend. Remember that the market may consolidate before choosing a direction, and it’s wise to wait for confirmation at these levels before entering trades. Disclaimer: I am not a SEBI-registered analyst. This analysis is for educational purposes only. Always consult a financial advisor before making any trading decisions.
NSE:NIFTYLong
by LiveTradingBox
NIFTY50.....Note the open targets!Hello traders, The hammer candle on Friday the 24th turned out to be a "failed" buy signal. The price touched the declining trend line on Monday's open and reversed (1 on our chart). In the following hours, the price fell below the support line and dropped to 24073.90 on Friday the 24th! A possible wave a of 2 has been established here. There is still another open target area. As I wrote on the 16th, 23893 is a price area to reach! This area is marked with the rectangle. It needs a break of the high at 25234 to give a fresh buy signal! The weekly total is also valid. The NIFTY50 has risen since the 18837 area without a major correction. Sooner or later one will come. The longer it takes, the steeper the correction will be! For short term trading, we focus on the possible levels on the downside as well as the upside. For now, it looks more corrective and in case of the upcoming election @US the market will move with more patience and caution. One note! A "fresh (new)" update does not invalidate the older updates. Note the timeframes within the update. Goals and possibilities are still valid and need to be eliminated, so I welcome and wish your comments and remarks. I may not be able to answer them "just in time", sometimes I forget! I apologize for that! But I am an "after work" trader and analyst. My family also needs some time. Thanks for your understanding! Have a great week ..... Ruebennase Please ask or comment if necessary. Trading based on this analysis is at your own risk.
NSE:NIFTY
by ruebennase
#Nifty50 outlook for upcoming week 28-1st Nov 2024. Nifty Nosedives! This week, the Nifty took a dramatic plunge, closing a hefty 700 points down from the previous week at 24,180. The bulls fought valiantly, pushing the index to a high of 24,978, but the bears ultimately prevailed, dragging it down to a low of 24,073. Key Levels Breached and Tested: My predicted range for the Nifty this week (25,550 - 24,350) was unfortunately shattered on the downside. Furthermore, the critical support level of WEMA21 was breached for the first time since October 2023, a potentially bearish sign. Is a Short Squeeze Brewing? With many retail investors now anticipating a continued downtrend, a counter-intuitive uptrend might be on the horizon. This could be a strategic move by the bulls to trap those who are shorting the market. Next Week's Crucial Levels: Buckle up, because next week is a pivotal one for the Nifty. If the index can defend the crucial support zone of 23,900-24,000, we might witness a surge testing resistance levels around 24,500-24,600. However, a breach below 23,900 opens the door for a further decline towards 23,600 and even the psychologically important 200-day moving average (23,500). This is where I, for one, will be getting "greedy" by considering adding Niftybees and some fundamentally strong stocks with favorable risk-reward ratios. Remember the age-old wisdom: "Be fearful when others are greedy, and be greedy when others are fearful." The time to be greedy for value might be just around the corner! S&P 500: Holding the Line (for Now): Across the pond, the S&P 500 failed to surpass its previous week's high of 5,878 and experienced a correction of more than 1.5% from its weekly peak of 5,866. The silver lining? It managed to hold above the crucial support level of 5,762. The upcoming week will be critical as well. If the S&P 500 can maintain a position above 5,863, it could potentially surge towards a significant Fibonacci retracement level of 6,013, which could also provide a positive tailwind for the Indian markets. However, a dip below 5,700 could trigger a correction ranging from 1.6% to 3.3%, potentially dragging the Nifty down with it. Wishing everyone a very happy & prosperous Diwali. Enjoy
NSE:NIFTY
by ssudhirsharma11
NIFTY S/R for 28/10/24Support 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 ---- MAYBE NIFTY support level looks between 24000-23890 and also RSI of NIFTY is close to oversold. Expectation for next week, we may see more dip till support level which will push RSI to oversold zone, and from there bounce back is expected. If you see the history of NIFTY 50, it has never stayed in oversold zone for more than 2-3 days, only if we have global crisis. This is just a study based on technical indicators and experience, My study can go wrong. Hope for the Best.
NSE:NIFTY
by Abdul-Rahim
1