** Nifty & Banknifty Analysis & Trade setup for 2 Dec**
Market Analysis for 02.12.21 (Thursday )
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* Nifty 50 *
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Support Area Resistance Area
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1st Support Area : 17084.75-17066.23 | 1st Resistance Area : 17202.52-17218.33
2nd Support Area : 16927.74-16950.69 | 2nd Resistance Area : 17324.51-17341.29
* Nifty Bank *
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Support Area Resistance Area
----------------------------- ----------------------------------
1st Support Area : 35534.82-35656.37 | 1st Resistance Area : 36702.09-36784.21
2nd Support Area : 34898.97-34990.32 | 2nd Resistance Area : 37099.53-37218.90
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Expectation : As for tomorrow expecting a positive market.
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Editorspicks
** Nifty & Banknifty trade setup for 24 Nov (Beware of Traps)**
Market Analysis for 24.11.21 (Wednesday )
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* Nifty 50 *
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Support Area Resistance Area
-------------------- -----------------------------------
1st Support Area : 17304.90-17323.40 | 1st Resistance Area : 17713.05-17735.70
2nd Support Area : 17216.70-17233.05 | 2nd Resistance Area : 17635.15-17652.05
3rd Support Area : 17113.25-17129.35 | 3rd Resistance Area : 17549.25-17570.60
* Nifty Bank *
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Support Area Resistance Area
----------------------------- ----------------------------------
1st Support Area : 36591.15-36674.85 | 1st Resistance Area : 37721-37847.85
2nd Support Area : 36189.15-36263.60 | 2nd Resistance Area : 38586.00-38677.30
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Expectation : As for tomorrow every thing has been said in the video.
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If want to know my Trading Approach for tomorrow. Please stay connected with me.
Jai Hind.
Disclaimer:
This video is only for educational purposes. Please consult your financial advisor before you take any trades. I am not a SEBI Registered Analyst.
** Nifty & Banknifty Trade setup for 23 Nov **
Market Analysis for 23.11.21 (Tuesday )
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* Nifty 50 *
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Support Area Resistance Area
-------------------- -----------------------------------
1st Support Area : 17294.45-17312.50 | 1st Resistance Area : 17490.30-17509.40
2nd Support Area : 17080.20-17100.20 | 2nd Resistance Area : 17552.25-17564.90
3rd Resistance Area : 17635.15-17647.55
* Nifty Bank *
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Support Area Resistance Area
----------------------------- ----------------------------------
1st Support Area : 36669.90-36864.55 | 1st Resistance Area : 37787.95-37926.00
2nd Support Area : 36170.10-36263.60 | 2nd Resistance Area : 38586.00-38677.30
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Expectation : As for tomorrow we should look a place where we want to short the market both nifty and banknifty.
The Trend is Bearish. But at this levels we cannot short because the market is all ready oversold.
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** Nifty & Banknifty Analysis & Prediction for 22 Sept **
MARKET ANALYSIS AND PREDICTION FOR 22.09.21 (WEDNESDAY ) EXPIRY ON 23 SEPT
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* NIFTY 50 *
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SUPPORT AREAS RESISTANCE AREAS
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1ST SUPPORT AREA : 17520.20-17536.85 | 1ST RESISTANCE AREA : 17610.40-17632.80
2ND SUPPORT AREA : 17421.90-17438.80 | 2ND RESISTANCE AREA : 17691.20-17713.10
* NIFTY BANK *
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SUPPORT RESISTANCE
----------------------------- ----------------------------------
1ST SUPPORT AREA : 37043.60-37175.05 | 1ST RESISTANCE AREA : 37557.15-37708.25
2ND SUPPORT AREA : 36805.70-36875.95 |
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Here are the factors behind today's rally:
1 European markets on the up
Despite weak US and Asian markets, positive European markets provided support to the Indian indices.
The European indices FTSE, CAC, DAX were up over 1 percent each after the European Central Bank policymakers said
the recent inflation surge was temporary.
2 Dow Futures up over 300 points
US stock futures also bounced a day after global markets were roiled by concerns that the potential default by Evergrande,
the world’s biggest property developer, could hurt China’s real estate sector, banks and the global economy.
3 Short covering in most beaten-down sectors
The rally was also supported by beaten-down sectors, with metal indices rallying over 2 percent after tanking nearly
7 percent in the previous session.
Also, capital goods, oil & gas, IT and realty were seen the buying interest and gained 0.5-3.5 percent.
Technical View
The Nifty formed a bullish hammer kind of candle on the daily scale and closed with gains of around 165 points.
Now it has to continue to hold above 17,500 zones, for an up move towards 17,650 and 17,777 zones,
whereas support is placed at 17,350 and 17,272 zones.
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Nifty & Banknifty Trade Setup for 6 Sept.
MARKET ANALYSIS AND PREDICTION FOR 06.09.21 (MONDAY ) ON 9 SEPT
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* NIFTY 50 *
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SUPPORT AREAS
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1ST SUPPORT AREA : 17307.10-17315.20 | 1ST RESISTANCE AREA : 17360-17380
2ND SUPPORT AREA : 17211.25-17225.50 |
* NIFTY BANK *
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SUPPORT RESISTANCE
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1ST SUPPORT AREA : 36484.80-36552.40 | 1ST RESISTANCE AREA : 37043.60-37175.05
2ND SUPPORT AREA : 36145.75-36262.30 | 2ND RESISTANCE AREA : 37557.15-37708.25
PIVOT : 36830.25
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EXPECTATION : The short term trend of Nifty is in a strong mode and the broad market indices were also in driver's seat.
One may expect showing another round of consolidation
or minor profit booking from the new highs, before further upside in the next 1-2 sessions
The next upside levels to be watched around 17,380 and immediate support is provided.
This pattern has nullified a minor negative/consolidation pattern on the daily chart.
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Post Market Analysis & Outlook of the SetupThe markets is making new highs daily. For the long term, we are bullish, however, after such a move, the market might see some correction. Investors are advised to keep trailing stop losses to their positions,
Technically, Nifty has formed a strong bullish candle on the weekly charts which is broadly positive.
On daily and intraday charts, it also maintains a breakout continuation formation indicating further uptrend from the current levels.
While the short-term trend remains positive, some profit-booking could be in the offing as traders may prefer to book some profits near 17,500 resistance level.
For the trend following traders, 17,150 and 17,000 could be the important support levels while on the flip side, 17,500 and 17,700 could act as important resistance levels.
Nifty is now headed for 17,375 and 17,400 in the coming few trading sessions. The levels of 17,200 and 17,280 will act as strong support levels(Intraday Basis) for the benchmark index.
Traders can consider buying on every correction with strict stop loss as long as Nifty is trading above 17,150.
Nifty & Banknifty Trade Setup for 3 Sept MARKET ANALYSIS AND PREDICTION FOR 03.09.21 (FRIDAY ) ON 9 SEPT
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* NIFTY 50 *
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SUPPORT AREAS
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1ST SUPPORT AREA : 17211.25-17225.50 |
2ND SUPPORT AREA : 17131.05-17145.00 |
3RD SUPPORT AREA : 17075.55-17087.10
* NIFTY BANK *
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SUPPORT RESISTANCE
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1ST SUPPORT AREA : 36145.75-36552.40 | 1ST RESISTANCE AREA : 37043.60-37043.60
2ND SUPPORT AREA : 36484.80-36552.40 | 2ND RESISTANCE AREA : 37557.15-37708.25
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EXPECTATION : The short term trend of Nifty is in a strong mode and the broad market indices were also in driver's seat.
One may expect further upside in the next 1-2 sessions, before showing another round of consolidation
or minor profit booking from the new highs.
The next upside levels to be watched around 17,500 and immediate support is placed at 17,150,
A long bull candle was formed on the daily chart, that surpassed a reasonable negative candle of Wednesday and closed above it.
This pattern has nullified a minor negative/consolidation pattern on the daily chart and this display a strength of upside momentum in the market.
This is positive indication and one may expect more upside in the short term,
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** NIFTY & BANKNIFTY SETUP FOR TOMORROW - 7 JUNE ** MARKET ANALYSIS AND PREDICTION FOR 07.06.21
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* NIFTY 50 *
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SUPPORT RESISTANCE
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1ST SUPPORT ZONE : 15650.25-15661 | 1ST RESISTANCE ZONE : 15693.2-15703.75
2ND SUPPORT ZONE: 15616.9-15630.3 | 2ND RESISTANCE ZONE: 15725.50-15733.60
3RD SUPPORT ZONE: 15584.3-15595.9 |
* NIFTY BANK *
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SUPPORT RESISTANCE
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1ST SUPPORT ZONE : 35220.4-35279.45 | 1ST RESISTANCE ZONE : 35438.90-35478.85
2ND SUPPORT ZONE: 35031.65-35092.45 | 2ND RESISTANCE ZONE : 35713.00-35811.60
3RD SUPPORT ZONE: 34725.95-34831.30 |
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EXPECTATION : NIFTY MIGHT BE IN NEGATIVE FOR TOMORROW . PROBALITY OF A VOLATILE MARKET IS MORE.
BANKNIFTY MIGHT BE IN NEGATIVE FOR TOMORROW. VOLATILTY MIGHT BE LESS COMPARED TO NIFTY.
NIFTY MIGHT RECOVER FROM THE DAY LOW AND MIGHT TURN BULLISH AFTER TOUCHING THE 3RD SUPPORT ZONE.
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** LOOK THERE ARE OTHERS THINGS THAT WE LOOK UPON WHILE TAKING A TRADE . TO LEARN PLEASE REGISTER WITH US.
WE SHARE OUR PICTURE PERFECT SETUP WITH OUR REGISTERED CLIENT CUM INVESTORS IN MORNING SHARP AROUND 8 AM.
WHETHER THERE WILL BE A GAP UP OR GAP DOWN WE SHARE THERE.
EVEN THERE ARE STOCK SPECIFIC F&O STOCKS TOO. **
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If want to know my Trading Approach for tomorrow. Please stay connected with me.
Jai Hind.
Disclaimer:
This video is only for educational purposes. Please consult your financial advisor before you take any trades. I am not a SEBI Registered Analyst.