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Technical Analysis of Nifty 50: Key Levels, Patterns, and BreakThe image appears to show a technical analysis chart of the Nifty 50 index, with indicators, support/resistance zones, and patterns marked on the chart. Here's an analysis: 1. **Key Levels**: - **Resistance (Seller's Zone)**: Around the 24,664.55 level. A breakout above this level might indicate further bullish activity, as stated in the chart. - **Support 1**: Near 24,498.75. This could serve as the immediate support level. - **Support 2**: Around 24,348.90, a stronger support area in case of a downward move. 2. **Chart Patterns**: - **Morning Star Pattern**: Highlighted near Support 1. This bullish reversal pattern indicates potential buying momentum. - **Price Action**: The market is consolidating between the Buyer’s and Seller’s zones. 3. **Indicators**: - **RSI (Relative Strength Index)**: Currently around 53.75, which is neutral. It's neither overbought (>70) nor oversold (<30), suggesting a balanced momentum. - **Volume**: Increased buying volume in the Buyer’s zone indicates significant interest at lower levels. 4. **Potential Scenarios**: - **Bullish Scenario**: If the price crosses the seller’s zone, marked at 24,664.55, it may lead to further upside as indicated in the chart. - **Bearish Scenario**: If the price breaks below Support 1 (24,498.75), it could test Support 2 (24,348.90). 5. **Strategy**: - Watch for a breakout above the Seller's zone with volume confirmation for long entries. - Look for price action signals around the Support 1 level for potential buying opportunities if the price retraces. Would you like a deeper analysis of any particular element?
NSE:NIFTY
by AnkurDasTrader
[Positional] Chola Swing BetChola triggered a buy trade. But the stop loss is 200 points which is near 1150. So if you want to take, be sure of it. Note - One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all. ======= I use shorthands for my trades. "Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.) "Intraday" -means You must close this position at any cost by the end of the day. "Theta" , "Bounce" , "3BB" or "Entropy" - My own systems. ======= I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share. ======= Like - Always follow a stop loss. In the case of Intraday trades, it is mostly the "Day's High". In the case of Positional trades, it is mostly the previous swings. I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives
NSE:CHOLAFINLong
by Amit_Ghosh
Nykaa analysis!Here are the key elements on the chart: On this chart, there are lines called "Fibonacci retracement levels," which help predict where the price might go up or down. Here's the simple breakdown: The chart shows different levels where the price could stop and change direction. These levels are like markers on the chart. The blue arrow on the chart suggests that the price might go up. There's also a note saying that the price might increase by about 20.89% over the next 60 days. In short, the chart is trying to predict that the price will go up and shows some important points where it might change direction. If you have any specific questions, feel free to ask!
NSE:NYKAALong
by iVishalPal
ready for targets JINDAL WORLDWIDEJindal Worldwide Ltd., incorporated in the year 1986, is a Small Cap company (having a market cap of Rs 7,923.56 Crore) operating in Textiles sector. Jindal Worldwide Ltd. key Products/Revenue Segments include Textiles, Income from Project Development, Export Incentives and Other Operating Revenue for the year ending 31-Mar-2024. For the quarter ended 30-09-2024, the company has reported a Consolidated Total Income of Rs 571.35 Crore, up 15.67 % from last quarter Total Income of Rs 493.94 Crore and up 45.65 % from last year same quarter Total Income of Rs 392.27 Crore. Company has reported net profit after tax of Rs 17.33 Crore in latest quarter.
NSE:JINDWORLDLong
by TechnicalAnalystSucrit
Nifty Intraday Levels | 10-DEC-2024Nifty Options Scalping 1️⃣ Zones to Watch: 👉Green Zone: Institutional support 👉Red Zone: Institutional resistance 👉Gap: 100-200 points between zones 👉Zone Creation: Based on pivot points and Fibonacci 👉Chart: Use Nifty futures chart for reference 2️⃣ Trade Execution: 👉Order Flow: Triggers trades 👉Timeframes: 1-min & 5-min for scalping 👉Risk-Reward: 1:2 (Risk 1 to gain 2) 👉Strike Price: ATM or slightly ITM options 👉Position Sizing: Adjust to risk tolerance 3️⃣ Rules: 👉9:15 AM Sharp: Ready for market open 👉Risk Management: Top priority 👉Quick Trades: "Morning breakfast" scalps 👉Stop-Loss: 10 points #ThankU For Checking Out Our IDEA , We Hope U Liked IT 📌 🙏 FOLLOW for more content! 👍 LIKE if you found it useful! ✍️ COMMENT below with your thoughts and feedback
NSE:NIFTY1!
by ReviveTraders