Nifty 1H Price Action Analysis (Week of 25th Aug) ⏰
Hey Traders! Let's break down the Nifty's juicy setup for the week.
The market left us a gift: The Nifty's powerful gap-up has left a major unfilled gap (24673 - 24852), a 179-point void that's calling price back! 📞🔻 Gaps are like market magnets 🧲—they have a strong tendency to get filled. Price has already tapped twice (18th & 22nd Aug) at the gap's roof (24850), treating it like a trampoline. But how long can the bounce last?
📍 The Key Levels & The Story:
The Floor (24850): This is our line in the sand. A solid break and close below this on the 1H chart could open the trapdoor 🚪, sending Nifty on a quick ride down to grab those gap points. It's the trade with the wind at its back.
The Ceiling (25150): This is the recent high and descending trendline resistance. A break above is exciting, but we're smart traders—we don't chase! 🏃💨 We've all been fakeout victims.
✅ The Bullish "No Fakeout" Plan:
To avoid getting trapped, we wait for a "Break-and-Retest"! If price punches above 25150, we don't buy the breakout. We wait patiently for price to come back and kiss the 25150 level and hold it as new support. That is our green light 🚦 and the high-probability long entry for a continued upmove!
The Bottom Line: Bears are eyeing the gap. Bulls need to prove their strength with a clean break and hold above 25150. Neutral until one side wins!
Bank Nifty Hint: Unlike Nifty, Bank Nifty has already filled its similar gap, suggesting Nifty might be next in line to complete the move.
Trading Plan:
Short Signal: Break & close below 24850. 🎯 Target: The Gap Zone.
Long Signal: Break ABOVE 25150, then wait for a pullback that finds support at 25150.
⚠️ Disclaimer: This is strictly an intraday idea for educational purposes. Trading is incredibly risky and you can lose your capital. This is not advice.
Found this helpful? Please give it a Boost! 🔥
What stocks should we dive into next? Let me know below! 👇😊
Hey Traders! Let's break down the Nifty's juicy setup for the week.
The market left us a gift: The Nifty's powerful gap-up has left a major unfilled gap (24673 - 24852), a 179-point void that's calling price back! 📞🔻 Gaps are like market magnets 🧲—they have a strong tendency to get filled. Price has already tapped twice (18th & 22nd Aug) at the gap's roof (24850), treating it like a trampoline. But how long can the bounce last?
📍 The Key Levels & The Story:
The Floor (24850): This is our line in the sand. A solid break and close below this on the 1H chart could open the trapdoor 🚪, sending Nifty on a quick ride down to grab those gap points. It's the trade with the wind at its back.
The Ceiling (25150): This is the recent high and descending trendline resistance. A break above is exciting, but we're smart traders—we don't chase! 🏃💨 We've all been fakeout victims.
✅ The Bullish "No Fakeout" Plan:
To avoid getting trapped, we wait for a "Break-and-Retest"! If price punches above 25150, we don't buy the breakout. We wait patiently for price to come back and kiss the 25150 level and hold it as new support. That is our green light 🚦 and the high-probability long entry for a continued upmove!
The Bottom Line: Bears are eyeing the gap. Bulls need to prove their strength with a clean break and hold above 25150. Neutral until one side wins!
Bank Nifty Hint: Unlike Nifty, Bank Nifty has already filled its similar gap, suggesting Nifty might be next in line to complete the move.
Trading Plan:
Short Signal: Break & close below 24850. 🎯 Target: The Gap Zone.
Long Signal: Break ABOVE 25150, then wait for a pullback that finds support at 25150.
⚠️ Disclaimer: This is strictly an intraday idea for educational purposes. Trading is incredibly risky and you can lose your capital. This is not advice.
Found this helpful? Please give it a Boost! 🔥
What stocks should we dive into next? Let me know below! 👇😊
Trade active
Gap ALMOST filled today, I'd emphasis to take it as filled only. Any more downwards on friday could possibly a bear trap. I'd wait for price action for a reversal now before any further downfall. Happy Trading !Trade closed: target reached
Yes.Note
Correction - Any more downwards on Thursday (Also monthly expiry day) could possibly a bear trap*
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.