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NIFTY trade ideas

#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
Today we received first signals of bottom formation. Today Nifty gave first indication of bottom formation after a long time. Will the bottom hold is a question which only time can answer. Nifty staged good recovery of 107 points from the day's low that was a positive sign. MMI (Market mood index) for Nifty on Ticker tape shows that Nifty is currently in the Extreme Fear zone of 26.5. Usually good money is made when you buy in extreme fear zone and sell in extreme greed zone. The supports for Nifty for the next week remain at 24102, 24703, 23366 and 22821. Resistances for Nifty for the next week remain at 24408, 24547, 24714, 24996 and 25338. Above 25338 Bulls can come back into full action mode and can take Nifty towards 25656 in the best case scenario. The Critical Mother and Father resistance for the hourly chart are at 24547 and 24966. Critical Mid channel resistance is near 25338. Channel Bottom support is in the zone of 24102 to 24072. To know more about Parallel channel and my Mother, Father and Small child theory read my book The Happy Candles Way to Wealth creation available on Amazon in Kindle and Paper back version. You will learn a lot about Fundamental analysis, Candle Sticks analytics, Profit booking and behavioural finance from the book. The book is currently one of the highest rated books on Amazon in the financial analysis and strategy category. I assure you it will be worth every money spent. 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 bound for 24100 next week?We have seen some major trendline break and support zone lost in the past one week and now another one has fallen victim of the bear trend that has recently started in light of Israel-Iran conflict. We close a candle below 25100 which was a major support and once we break previous weeks low next week, we are bound for some major sell off again! MAJOR DEMAND ZONE at 24000 - 24100 and hence I expect the same for the PA in next couple of weeks.
NSE:NIFTYShort
by TheSnop
NIFTY CRASH INCOMING?? The Nifty 50 chart displays a classic head and shoulders breakdown, signaling a potential reversal of the prior bullish trend. The breakdown occurred as the price decisively breached the neckline around the 24,590 level, which coincides with the 70% Fibonacci retracement. This breakdown suggests a potential bearish move, with the price targeting key Fibonacci support levels, particularly the 78.20% (24,399.50) and 88.20% (24,168.35) retracement levels. The bearish sentiment is reinforced by the high-volume sell-off after the neckline breach, indicating strong selling pressure. However, if the price retraces back above the 61.80% Fibonacci retracement level (24,783.40), it could invalidate the bearish setup, signaling that the pattern may have failed. The 25,063.35 level (50% retracement) would act as the next major resistance if the bounce continues. The measured move from the head-and-shoulders pattern projects further downside, potentially aligning with the 23,980 level or even lower, depending on market momentum. Traders should watch these key levels for confirmation of continued downside or a reversal if the price reclaims the neckline.
NSE:NIFTYShort
by TheSnop
NIFTY Buy opportunity on solid cyclical patterns.We last looked into the Nifty 50 Index (NIFTY) on September 05 (see chart below), when we got an excellent buy on the 1D MA50 (blue trend-line) that quickly hit our 25700 Target: As you can see, our trading approach was based on the recurring technical patterns (Megaphones) since July 2023. Even though the current wide price action doesn't fit the former Megaphone patters, we can still call for a bottom soon as, not only is the price approaching the 1D MA200 (orange trend-line), but also the 1D RSI is almost on the same oversold (below 30.00) level as 1 year ago (October 26 2023)! In fact the pattern of September - October 2023 looks very similar to Sep - Oct 2024. The risk of buying here is low while the reward is high, making for a very appealing R/R ratio. As a result, we turn long again, targeting 27400 (+15.67% rise as the previous bullish break-out legs). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NSE:NIFTYLong
by TradingShot
What's in Nifty?The way I see the chart nowadays, NSE:NIFTY will touch 24465 on momentum and then might come down for a time being and then try to attempt achieve 24728 and will close in Green. The downside support is now at 24350 So basically it is now the game between 24400 and 24500 as per the OI data reading. As per the Open Interest data, FII sold both, CE and PE. Meaning they are preparing for the rangebound market - sideways or consolidation - between 24400 and 24500. What should retailers (WE) do? - Don't trade between this range. Pick stocks near their long and mid term moving average. I know, many traders who have emerged in the bull market, will be afraid of this type of volatile market. But believe me this is a healthy correction and needed to burst out the bubble from the market. So brace yourself for new learnings. Another advise for retailers is - Invest in learning as much as you can do. Read books. AVOID YouTube tutors. Take class from any teacher you would like to. But make sure you do learn in this market. You won't be getting such opportunity every now and then. Chees to a profitable day ahead.
NSE:NIFTY
by Trendxinc