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NIFTY trade ideas

NIFTY Short Mastery on 15m Time Frame: 940 Points SecuredOn the 30th of September, we initiated a short entry at 25996.85 using the Risological Swing Trader, capturing a robust downtrend as the price continued to respect our dotted trendline indicator. To date, this strategy has delivered a significant 940 points in profit, exemplifying the effectiveness of our approach. Target Points: TP 1: 25823.50 TP 2: 25543.00 TP 3: 25262.50 TP 4: 25089.15 Stop Loss (SL): 26137.10 The Risological Swing Trader has once again proven its strength in spotting market reversals, allowing us to secure substantial gains. We will stay vigilant as we approach the reversal.
NSE:NIFTYShort
by ProfitsNinja
2
Good recovery candle by Nifty but Mother line yet to give way. Nifty gave a good recovery candle but Mother line resistance and mid channel resistance are yet to be conquered. the zone between 25052 and 25332 will play as a strong resistance as it contains resistances like Mother line (50 days EMA) at 25052 , Mid channel resistance around 25148 and a resistance from previous peak from mid september which is around 25332. Once this zone is crossed Bulls will try to take the market to the next levels which are 25481, 25657, 25992 and 26K+ again. The supports for Nifty remain at 24677, 24470, 24216 (channel Bottom support), 23942 and finally 200 days EMA or the Father line support at 23274. Below 23274 is all Bear territory. As we had indicated the market looked oversold yesterday there was a chance of short covering which happened today. Confirmation candle above 50 EMA tomorrow or later in the week will be an icing on the cake from where actual recovery can start. The candle formation today was similar to Bullish Harami pattern. (Harami in Japanese means Pregnant woman). Bullish Harami indicates shadow of the candle to be positive. The pattern can get confirmation only if the bullishness continues tomorrow and we have a positive closing of the week. 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 INTRADAY LEVELS FOR 08/10/2024BUY ABOVE - 24890 SL - 24800 TARGETS - 24990,25060,25120 SELL BELOW - 24700 SL - 24800 TARGETS - 24600,24530,24460 NO TRADE ZONE - 24700 to 24890 Previous Day High - 25120 Previous Day Low - 24700 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 : Trading Levels and Plan for 08-Oct-2024Intro: On 7th October 2024, Nifty continued its downward trend but managed to find support near 24,678, leading to a slight recovery. However, the price remains below key resistance levels at 24,895 and 24,971. This setup indicates that Nifty could either continue its sideways correction or attempt a breakout. Traders should be vigilant for a breakout above 25,195 or a potential fall below 24,678 to guide the next directional move. Trading Plan for 8th October 2024: Gap Up Opening (100+ points above): If Nifty opens above 24,971, it will be approaching strong resistance levels. The first key resistance is 25,195, and a sustained move above this level could indicate a reversal in the current downtrend. However, traders should be cautious as rejection from 25,195 may lead to a sharp sell-off. Targets: 25,195, 25,265 Stop Loss: Below 24,971 on an hourly candle close basis Risk Management: Wait for a pullback to enter long trades after a gap-up to avoid getting trapped at the top. Use tighter stop losses near resistance zones to protect profits. Risk Tip: Consider trading in-the-money call options with limited capital exposure. Avoid out-of-the-money options to prevent time decay losses. Flat Opening (Within 24,678 - 24,895 range): In the case of a flat opening, the price action between 24,833 and 24,895 will be crucial. A breakout above 24,895 may trigger a move toward 24,971, while failure to break this level could lead to a consolidation or retracement back toward 24,678. Targets: 24,971, 25,195 Stop Loss: Below 24,678 on an hourly candle close basis Risk Management: For flat openings, maintain tight risk control as volatility may rise. Avoid aggressive entries until a clear breakout or breakdown occurs. Risk Tip: Employ option spreads like bull call spreads or sell out-of-the-money options to reduce risk in a flat opening. Gap Down Opening (100+ points below): If Nifty opens with a gap down near 24,606 or lower, the key level to watch is 24,421. If the price breaks below this level, it may initiate a correction phase, potentially targeting 24,354 or lower. Any recovery above 24,606 could provide opportunities for quick scalping trades toward 24,678. Targets: 24,678 on recovery, 24,421, and 24,354 on further downside Stop Loss: Below 24,606 Risk Management: Avoid trying to catch falling knives in a gap-down scenario. Wait for confirmation before entering any long trades. Risk Tip: For gap-down scenarios, protective puts or hedged positions can safeguard against sharp declines. Focus on limiting risk exposure. Risk Management Tips for Options Trading: - Avoid over-leveraging, especially in volatile market conditions. Stick to predefined risk strategies like spreads and collars. - Monitor implied volatility (IV) to avoid purchasing expensive options. Enter trades when IV is lower, as premiums are cheaper. - Maintain a disciplined stop-loss strategy to manage risk effectively. Summary & Conclusion: On 8th October, Nifty's movement will largely depend on the opening scenario. A gap-up could face resistance near 25,195, while a flat opening may offer a chance to trade a breakout above 24,895. For gap-down openings, watch for support around 24,606 and 24,421. Proper risk management with options is crucial for navigating the volatility ahead. Disclaimer: I am not a SEBI-registered analyst. All views shared are for educational purposes only. Traders should conduct their own analysis or consult a financial advisor before making trading decisions.
NSE:NIFTY
by LiveTradingBox
Nifty again finds itself at make or break level. Mother father supports drawn on hourly candle are gone. Mid channel support is just breached. Shadow of the candle is negative. RSI finds itself at critical level in a pennant. Nifty is still oversold territory in the hourly chart. When everything seems lost we wait for the confirmation that Nifty can give about it's temporary bottom. The support for nifty as of now seem at 24667 Bollinger band bottom support, 24470, 24216 and finally 23942 level. Resistances for Nifty are at 24935, 25147, 25574 and finally 25740. The recovery might be around the corner we can expect a turnaround but probably towards mid-week, weekend or next week.
NSE:NIFTY
by Happy_Candles_Investment
NIFTY50.....Wave a of iv done?Hello Traders, The NIFTY50 has reached my first target at the 248xx level. Check out my latest analysis. The price target is at a wave 4 level of one degree lower. This can be a wave iv or a wave a of iv as I wrote before. If it was a wave iv, the next move will take the N50 back to a new ATH! If it was a wave a of iv, the next move should be against the trend and into the retracements. A close of the open gap between 25796.90 and 25452.85 would be a strong sign, but not expected! A possible price range is 25287.50 to 25473.55. If the N50 falls without any recovery, the 244xx area will come into focus. That's it for today's quick note. Update will follow after important changes or news. 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
6
NIFTY S/R for 8/10/24Support 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 Short, Medium & Long Term : 07-Oct-24 to 11-Oct-24Nifty Short, Medium & Long Term : 07-Oct-24 to 11-Oct-24 Nifty closed at 25014 ( Last Week 26179 ) and touched low & high of 25839-26285 ( all time high) Market saw a drop of 4.5% last week due to concern on Middle East War Situation. Market touched new high 2 weeks before , and touched all time high of Mid Term Resistance 26260 Nifty Bank 51462 ( 53834), touched the target of 54000 as proposed 2 months before (54400 all time high) and support at 49900. Buy on dips. Fed Rate Cut by 0.5% made the global market up and triggered increase in Indian Market in sep. FPI invested 4 Billion $ in Sep and pulled out 3.5 Billion $ in 3 trading session in Oct. US President Election result scheduled in Nov 24. Until then Market may correct if any global news upto19500 as there is strong multiple fib support in this range. RBI in India expected to reduce rate from end of this year. RSI ,macd and stochastics levels are down. Caution to be emphasized as Stochastics at overbought level. Q2 results awaited which will pave way for more clearer path in market. Nifty 25014 Short term ( Short Term : Down) Nifty short term resistance 25675 & 26000 trend line resistance as shown in chart. Support at 24814 ( 0.618 Fib Retracement) Medium Term next target is 26266 & if move up decisively above next target is 27000 Medium term Support 24650 (Trend line support and Fib Resistance), 24480 (Fib Support) and 24000. Long Term : Nifty have a target of 28190 ( Fibonacci Resistance). Support at 22800 US started reducting fed rate as expected in Sep 2024, expected it shall continue in reduction of interest rate in next year. Caution was emphasized on Nifty for last 3 months as nifty PE 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. 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. 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. Fundamentally good stocks can be added as it posted good results on every dip in finance stocks such as CAMS, UTI AMC , HDFC AMC, 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, ICICI Bank, HDFC Bank Indian Bank & Punjab National Bank. Stock Picking is needed at current scenario in Bank, auto, Pharma stocks. Based on the Q1 results, following stocks can be added to portfolio: 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 41912 (42312) indices dipped slightly, NIfty IT is less than SMA 21 level, need clear direction and Q2 results will pave way for the clear direction.
NSE:NIFTY
by karthikss
NIFTY INTRADAY ANALYSIS FOR 07/10/2024BUY ABOVE - 25080 SL - 25020 TARGETS - 25130,25180,25230 SELL BELOW - 24950 SL - 25020 TARGETS - 24900,24850,24800 NO TRADE ZONE - 25950 to 25080 Previous Day High - 25490 Previous Day Low - 24950 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 : Trading Levels and Plan for 07-Oct-2024Intro: On 4th October 2024, Nifty saw a Volatile session with some recovery towards the latter end of the day. The index found support near 25,049-25,036 and attempted to bounce back. However, resistance zones near 25,373 suggest that upward movement may face headwinds. As we head into the trading session on 7th October, traders should be aware of key levels and potential price reactions based on the opening. Trading Plan for 7th October 2024: Gap Up Opening (100+ points above): If Nifty opens with a gap-up above 25,225, it will enter the "Reaction / Sideways Zone." In this scenario, it's crucial to watch the price action around 25,373. A breakout above this level could lead to further upside towards 25,550-25,622, which is a strong resistance area. However, caution is advised as profit booking is likely in this region. Targets: 25,373, 25,550, 25,622 Stop Loss: Below 25,225 on an hourly candle closing basis Risk Management: Avoid chasing the price at higher levels, as the reaction zone may lead to consolidation. Wait for clear breakouts or pullbacks. Risk Tip: For a gap-up scenario, consider trading with in-the-money calls or spreads to mitigate potential time decay if the index consolidates. Flat Opening (Within 25,036 - 25,049 range): If the market opens flat, look for price movement around the opening support at 25,036-25,049. A breakout above 25,049 could lead to a rally toward 25,225. Failure to hold above this zone could result in consolidation. On the downside, if the price breaks below 25,036, it could head toward the buyer's support near 24,754-24,703. Targets: 25,180, 25,225 Stop Loss: Below 25,036 Risk Management: Tight stop losses are essential in flat openings, as volatility may be low initially but can spike post-settlement. Risk Tip: For flat openings, consider using straddle or strangle strategies to capture the potential breakout in either direction. Gap Down Opening (100+ points below): If Nifty opens with a gap down near 24,754 or lower, be cautious with long positions. A quick recovery above 24,754 can offer a buying opportunity for a retracement to 25,036. However, a sustained break below 24,703 could signal further downside, with the next support at 24,152. Targets: 25,036 on recovery, 24,703, and 24,152 on downside Stop Loss: Below 24,703 Risk Management: Avoid aggressive buying until prices stabilize. Look for confirmation before entering any trades. Risk Tip: For a gap-down, protective puts or hedging strategies should be considered, especially if you're holding long positions overnight. Risk Management Tips for Options Trading: - Limit your exposure to volatile movements by using spreads like bull call spreads or bear put spreads instead of buying naked options. - Be mindful of position sizing, especially when trading near key support and resistance zones. - Monitor implied volatility (IV) levels to avoid buying overpriced options during high volatility periods. Summary & Conclusion: For 7th October, Nifty's movement will depend heavily on the opening. A gap-up could push the index into resistance near 25,373, while a flat opening could lead to range-bound movement. On a gap-down, watch for support levels near 24,754. Risk management is crucial in all scenarios, and options traders should consider using spreads or protective strategies to manage potential market volatility. Disclaimer: I am not a SEBI-registered analyst. All views shared are for educational purposes only. Traders should perform their own analysis or consult a financial advisor before making trading decisions.
NSE:NIFTY
by LiveTradingBox
NIFTY 50 KEY LEVELS FOR 07/10/2024//@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