NIFTY 50 9th DECEMBER 2024NIFTY is expected to go up. The green zone serves as a strong support and may push the index towards the red zone
NIFTY trade ideas
Nifty Intraday Trade Setup | 9th DecemberNifty opened flat as because of RBI Policy we saw some volatility in first hour but then Nifty traded in a small range whole day and it was more of a options sellers day.
For tomorrow, if Nifty sustains above 24755 you can consider buying for 27800 and above marked level. On the other side, if Nifty sustains below 24640 you can consider taking a sell trade for the target of 24590 and below marked level on the chart.
Expectations: Volatile movement.
Intraday Levels:
Buy Above - 24755
Sell Below - 24640
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Happy Trading!
InvestPro India
NIFTYNSE:NIFTY
WAIT and Watch!
Could be Tricky!!!!!
lets see, Fingers crossed.
Note :
1. One should go long with a StopLoss, below the Trendline or the Previous Swing Low.
2. Risk :Reward ratio should be minimum 1:2.
3. Plan your trade as per the Money Mangement and Risk Appetite.
Disclamier : You are responsible for your profits and loss.
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Trade Setup for Monday (09-Dec-2024)Multi Time Frame Analysis
HTF - D1
LTF - M15
PD Arrays
D1 - FVG
M15 - SSL (Liquidity)
Sell Side Liquidity swept
Price is likely to move towards Buy Side Liquidity (BSL) at 24850 level
NIFTY ANALYSISNIFTY Took good support on the trend line on hourly chat . I am expecting Nifty to be in a volatile non directional move unless the trend line or fridays high is broken . I think non directional strategy could work well here till any of the level is breached .
Riding the Correction: Unlocking NIFTY’s Next Chapter!Dear Traders,
I hope this message finds you well in your trading endeavors and personal pursuits. I am excited to share a compelling opportunity with you through a new NIFTY analysis that sheds light on the continuation of the market shift. The recent upward movement & the following correction in the market have unfolded as anticipated. Over the past two months, my analysis has consistently pointed to an expected correction due to market overvaluation and distinct completion patterns.
Technical Analysis Overview:
There are three potential scenarios for the ongoing trend, ranked based on their likelihood of occurring.
Scenario I:
The move initiated from 20 MAR’23 – 27 SEPT’24 (16,828.35 – 26277.35) has spanned over 80 weeks (18M) and indicates a significant completion of wave patterns, suggesting an imminent correction. See the visual representation of the trend lines and corresponding fib retracement levels here:
The correlation between static supports can be observed around 23,893.70 and 21,181.45. This correction is expected to be visible within a 3-month timeframe.
Potential support levels include
S – I: 24,893 ~ 24,753 ~ 24,430 levels,
S – II: 24,050 ~24,000 levels and
S – III: 23,683 levels.
*These values are not actual but just levels
The correction might extend to deeper levels (22,664 & 21,550) as the market progresses.
Time resistances are anticipated on 09th OCT, 17th OCT, and 30th OCT for all probable scenarios.
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Scenario II:
The move from 26 OCT’23 – 27 SEPT’24 (18,837.85 – 26,277.35) has completed mid-way and is expected to continue after this correction, potentially reaching unprecedented levels. Find the visual representation of this move with trend lines & fib retracements here:
The range of this move is limited to the monthly timeframe, indicating the completion of 1 year from the start of this sub-trend.
Potential support levels include,
S – I: 24,525 ~ 24,378 levels,
S – II: 23,900 ~ 23,893.70 levels and
S – III: 23,450 levels.
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Scenario III:
The move from 04 JUN’24 – 27 SEPT’24 (21,121.45 – 26,277.35) has almost completed its half journey and is facing a correction before extending its uptrend by a few more waves. While this scenario has the lowest probability compared to the others, it is essential to consider its potential impact on the current trend.
The pictorial representation can be seen here:
Further details are not added as the market actions till now does not validate this probability.
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Other Influential Factors:
Geo-political tensions and concerns regarding escalation have historically preceded corrections prior to the US presidential elections, indicating a prevailing bearish sentiment. Tensions in the Middle East have also contributed to the market plunge, albeit not solely responsible for it. Additionally, the FED's likely rate cuts have been influenced by the upcoming US elections, and SEBI's regulatory actions aim to curb over-optimism and maintain market neutrality.
Important Dates to Remember:
Mark your calendars for OCT 9th (RBI interest rate decision @ 10AM) and OCT 10th (US inflation reports).
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Final Verdict:
While the scenarios are meticulously laid out, the selection of the valid scenario remains a work in progress. We are eagerly awaiting further cues from the market and will provide updates as they unfold. However, one thing remains certain – the current trend has reversed (at least for the mentioned time frames). Therefore, adopting a bearish stance could prove to be profitable.
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Strategy:
Considering the current market conditions, adopting a bearish stance seems prudent, especially levels around 24,450 ~ 24,000 are to be tested. Keep a close watch on the market and stay informed for potential opportunities.
Disclaimer:
Before concluding, I must underscore that the insights shared are based on my analysis. It is imperative for you to conduct your research and, if necessary, consult with a financial advisor before making any trading decisions. The dynamic nature of financial markets necessitates that your strategies align with your financial goals and risk tolerance.
Fellow Traders,
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Wishing you profitable and joyful trading!!!
#NIFTY Intraday Support and Resistance Levels - 09/12/2024Gap up opening expected in nifty above 24750 level. After opening if nifty starts trading above 24800 level then possible strong upside rally in nifty upto 25000 level in today's session. 24550 to 24750 range is consolidation zone for nifty any major downside only expected below 24500 level.
Nifty consolidated, will shoot high from hereNifty is in an obvious uptrend and currently in a short consolidation phase. There will be a little pull down and with the rubber band effect, Can expect the price to move upwards from here.
Nifty 10th Dec 2024BIAS
Monthly-Bearish
Weekly-Not Sure
Daily-Not Sure
4hr-Not Sure
1hr-Bullish
TRADE
Wait for Nifty to give definitive momentum in any direction.
Nifty Intraday Support & Resistance Levels for 09.12.2024On Friday, Nifty traded within a narrow range, reflecting cautious market sentiment. It made a high of 24751.05 and a low of 24620.50, ultimately closing at 24677.80, down by 30 points. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) stays positive, signalling underlying strength.
Demand/Support Zones
Near Demand/Support Zone (15m): 24295.55 - 24376.65
Far Demand/Support Zone (30m): 24140 - 24187.05
Far Demand/Support Zone (75m): 23447.15 - 23578.60
Supply/Resistance Zones
Near Supply/Resistance Zone (Weekly): 24567.65 - 25234.05 (Current price inside the zone)
Far Supply/Resistance Zone (Daily): 25739.20 - 25907.60
Far Supply/Resistance Zone (Daily): 26151.40 - 26277.35
Nifty technical analysis for tomorrow (09/Dec/2024)Nifty moments for option and future trading 09/Dec/2024
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Expected Nifty PathwayJust by drawing ZZ in chart it is possible to find out expected path of nifty. As you can see in my previous posts how accurate this simple drawing can be. So I believe just practice one correct thing that's it.
Now if it's Break out then again simply continue drawing and check where it ends.
#NIfty50 Outlook for upcoming week 9-13th Dec, Nifty Rallies, Bu
The Nifty 50 index concluded the week on a high note, closing at 24,677, a significant 550-point surge from the previous week. The index oscillated wildly, touching a high of 24,857 and a low of 24,008. As predicted, the index faced selling pressure around the 25,000 level, a critical resistance zone that triggered a downward trend in late October.
For the upcoming week, the Nifty is expected to trade within a range of 24,100 to 25,000. A sustained break above 25,000 could propel the index towards 25,250. However, a pullback to retest support levels is likely before the next upward move.
Meanwhile, the S&P 500 index gained 1% to close at 6,090. Key resistance levels for the S&P 500 are 6,142 and 6,225, while support levels are 6,013 and 5,963.let's see if US market this week also support world market or not.
Nifty December 2nd Week AnalysisNifty is showing signs of strength, but it’s important to stay cautious while trying to chase upside. The key level to watch is 24826. If Nifty breaks above 24826 and sustains, it could potentially go up to 25300-25420. But if it doesn’t hold onto 24826, it could stay stuck in a range and be quite volatile throughout the week.
NIFTY TRADE - 09-Dec-2024BUY AND SELL ZONES for NIFTY on 09-Dec-2024
Buy Zone 1: 24495 - 24525
Buy Zone 2: 24325 - 24355
Sell Zone: 24825 - 24855
DISCLAIMER: NOT FINANCIAL ADVICE; ONLY FOR EDUCATIONAL PURPOSES
NIFTY : Trading Plan and Levels for 09-Dec-2024Nifty Trading Plan for 09-Dec-2024
Previous Day's Chart Pattern:
On 08-Dec-2024, Nifty displayed a range-bound movement within the No Trade Zone (24,674 – 24,780) , with intermittent attempts to break out on both sides. Buyers showed interest near the liquidity zone around 24,484 , but resistance at 24,780 capped upward momentum. The yellow zone signified consolidation, green highlighted bullish efforts, and red depicted bearish dominance. This creates a balanced yet cautious outlook for the next trading session.
Trading Plan for 09-Dec-2024:
Gap-Up Opening (+100 points or more above 24,780):
If Nifty opens above 24,780:
The immediate target will be 24,878 . A sustained move above this level may lead to a test of the profit-booking zone at 25,053 .
Enter long positions above 24,780 with a stop loss at 24,730 . Watch for rejection patterns near 24,878 for partial profit booking.
In case of a sharp reversal from 24,878, the index could retrace toward 24,780. Avoid aggressive longs if rejection occurs at higher levels.
Risk Management Tip: Opt for slightly OTM call options in small quantities. Use trailing stops to secure profits near resistance zones.
Flat Opening (Within the No Trade Zone 24,674 – 24,780):
A flat opening within the No Trade Zone requires patience:
If Nifty breaks above 24,780, initiate longs with targets of 24,878 and 25,053 .
On the downside, a fall below 24,674 can lead to a retest of the first buyer’s support at 24,484 . Initiate shorts cautiously with a stop loss above 24,700.
Risk Management Tip: Avoid overtrading in a sideways zone. Wait for clear breakouts before taking positions. Avoid weekly options in choppy zones.
Gap-Down Opening (-100 points or more below 24,674):
If Nifty opens below 24,674:
First support lies at 24,484 . If this zone holds, we may witness a reversal toward 24,674. Look for bullish candles to confirm long entries.
A break below 24,484 will likely test the liquidity zone at 24,446 or deeper support at 24,374 – 24,338 . Enter shorts below 24,484 with a stop loss near 24,500.
Risk Management Tip: For gap-down scenarios, consider put options with a spread strategy to limit losses. Avoid chasing price movements without confirmation.
Summary and Conclusion:
Nifty's key levels to monitor are 24,674 – 24,780 (No Trade Zone), 24,878 (Opening Resistance), and 25,053 (Profit Booking Zone).
The green zones represent bullish trends, yellow highlights consolidation, and red indicates bearish zones.
Focus on executing trades only after confirmation and manage risks with disciplined stop-loss placements.
Disclaimer: This analysis is for educational purposes only. I am not a SEBI-registered analyst. Traders are advised to do their research or consult a financial advisor before trading.
NIFTY S/R for 9/12/24Support 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.
MA Ribbon (EMA 20, EMA 50, EMA 100, EMA 200) :
Above EMA: If the stock price is above the EMA, it suggests a potential uptrend or bullish momentum.
Below EMA: If the stock price is below the 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.
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.
Nifty | Pre Market Weekly View | 09 Dec - 13 Dec 2024Nifty closed the previous week with a strong Bullish candle which has reached to the 50% zone of the previous fall.
There has been a good price consolidation around this level.
The plan for the next week is simple.
Nifty is in an uptrend and trading above key pivot levels that include the monthly and weekly pivots.
If there's any sharp decline or gap down, then my suggestion is to not Short !
24,300 there about should act as a good support zone and then look for good price action confirmation and buy on dip around those level.
Long side target is 25,000 - 25,015 level.
If there's a big gap up, don't go long either. There could be a potential reversal from around 25,015 + levels.
Best option is to look for a correction and buy on dip.
Nifty - Inverse Head & Shoulder breakout The target could be calculated based on the depth of the head and that is giving us the number around 25500.
Given the current momentum after the breakaway, market is starting to tell the bullish story.
Keep an eye in coming day.
Nifty turned uptrend - holding above breakout Breakaway gap - is not something that is formed in everyday market and it takes strong buying to create such a gap.
Nifty is now holding above the breakway level after the trendline breakout and taking support from the same level.
From here, I see a good possibility of upside to 25500 in the coming days.
However, the price now must move with providing good dips to enter to absorb the price action.
Do not consider this as a recommendation. I am not SEBI registered advisor and I am not responsible for your losses.
NIFTY50.....Seasonlly it has to rise, but.....Hello Traders,
the NIFTY50 has moved to 24857.75 on Thursday December 5th.
The move to this level has been not expected to me, but it overcome the 0.786 Fibonacci of the latest decline from 24234. This higher the facts, that the decline was done @ the low at 23263!
Notice, that @ 24990 the advance from 23263 will be equal in length (a=c)! So at this level, a corrective countertrend move could have end.If so, we should label the chart as a waves a-b-c of b and the next coould be a decline.
It depends on the internal structure of the waves, which pattern will develop.
For now, it is to soon to judge.
A move above 25600 opens the door for a new ATH for N50!
The level of 23826.85 to 23907.55 (smaller rectangle) is now support-area for the next days ahead.
I will update the chartr in the coming days.
Have a great weekend.....
Ruebennase
Please ask or comment as appropriate.
Trading on this analysis is at your own risk.
Niffy 50 ABC UP world markets BREAKING DOWN SOON The chart posted is that of the niffy 50 .I post months back of the blowoff to outside the long term channel and that A major top based on EW as well this rule on PCT outside the bands and channel called for a major decline .Since then I showed a clear 5 wave down ending wave 1 or A and now we have have what looks to be the ending of the ABC rally back into fib targets . What next we should start to see a rolling over and new DOWN leg to much lower levels . in a wave 3 or C .
Cup and Handle kind of structure forming in Nifty. Nifty has given a good closing despite ending below the weekly high today. This week's high that Nifty achieved was 24857 while the closing is at 24677. The closing is substantially above 50 Week's EMA at and 50 days' EMA which is at 24396. this should be considered good reversal signal subject to we get a closing above 24857 within next week or the week after. FIIs selling has diminished and buying has emerged. There was little bit of DII selling seen on the browsers indication a little bit of profit booking or sectoral rotation. If you look at the chart a prominent structure of cup and handle is emerging which is again indicative of a positive indication. Those who are sitting on cash can slowly start building positions.
The support for Nifty remain at: 24396 Strong support (Mother line of Daily chart) , 23882, 23340 Very strong support (Mother line of weekly chart), 23194 strong support (Mid channel support), If there is some adverse local or global news out of the blue all of a sudden as there is a substantial fall in unlikely circumstances the channel bottom support seems to be at 21229. (Highly unlikely scenario).
The Resistances of Nifty Remain at: 24857 strong resistance (Weekly High), 25377, 25827 (Strong resistance), 26277 (Previous high and very strong resistance). Once we cross and get a weekly closing above 26277 in a long term the next strong resistances will be at 27269 (Cup and handle top and very strong resistance). Channel top in the long run 4 to 9 months from now seems to be at 27801.
To know how to read charts and to know about Happy Candles numbers, parallel channel and my famous Mother, Father and small child theory read my book THE HAPPY CANDLES WAY TO WEALTH CREATION available on Amazon. The link to purchase the book is at the bottom in the signature section of the chart.
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.
