29 Dec ‘23 - Banks took a break, still a Happy NEW YEAR close.BankNifty Analysis: Stance - Bullish
Banks were appearing pretty lousy today, the fall did not halt at 10.11 today when Nifty50 found its support. BankNifty went further down and got its rejection only at the bottom level of the ascending channel.
4mts chart link - click here
We have never seen an ascending channel that works with so much perfection. Yesterday BN finished on the top line, the gap-down opening tipped the scale in the bear’s favor but was run out at the bottom level. Interestingly only BankNifty took the beating, FinNifty ended the day much better (exact 0.22% loss closing as of N50).
63mts chart link - click here
You can notice how beautifully BankNifty is respecting the channel. As long as we do not break the lower trend line, the bullish case is still intact.
Thank you for staying with me this year. Your readership, comments, and suggestions are always appreciated. Wish you a happy and prosperous NEW YEAR 2024.
Finnifty
#Finnifty directions and levels for DEC 28th"Good morning, friends. Here are the directions for December 28th: The global market sentiment is bullish, supported by the Dow Jones, while our local market sentiment shows a similar trend. It might open with a gap-up start, as indicated by Giftnifty showing +80.
>The markets are closed at an all-time high. The trend also clearly indicates a bullish tendency, so if the gap-up sustains, we can expect a rally continuation with minor consolidation. The wave structure also indicates a clear bullish trend (minor 3rd wave).
>We can expect a correction only if it breaks the Fibonacci level of 38% with the initial market decline. Otherwise, the declines might find support (Fib level 38%) and create a range market for rally continuation."
#Finnifty directions and levels for DEC 27th.Finnifty, similar to Bank Nifty, exhibits a range-bound structure, indicating no significant expected movement. However, should the market firmly break the upside at 78%, we might anticipate a move ranging from 21449 to 21488. Conversely, if it rejects around the 78% mark, we can anticipate a continuation within the range
#finnifty directions and levels for DEC 26th"Good morning, friends. Here are the directions for December 26th: The global market sentiment is moderately bearish, supported by the Dow Jones, while our local market sentiment shows a similar trend. It might open with a neutral to a gap-up start, as indicated by Giftnifty showing +45.
If the market sustains the gap-up or consolidates, we can expect a range market to pull back for continuation. On the other hand, if the initial market declines sharply or the initial pullback is rejected around the immediate resistance, then we can expect a correction. In my opinion, we are experiencing a range market structure, which is a challenging aspect of trading. Therefore, if we witness a solid structure or minor consolidation, we can consider this for a trend continuation trade."
Finnifty - Intraday levels & Prediction - for 19 Dec 2023Finnifty Prediction for tomorrow.
Gap up Open then BEARISH Reversal from 21482-21500
Bullish only above PDH / 21560
Demand and Supply Zones - When price breaks the zone, Demand zone will become Resistance and Supply zone will become Support.
Refer the chart for detailed Intraday Support and Resistance levels.
Happy Trading!!
Index analysis for 19th December 2023 for educational purposeIndex analysis for 19th December 2023 for educational purpose
This video is for educational purpose and my personal view . We are NOT SEBI registered Advisor, we only give the level on our practical trading experience. Kindly take the trade according to your risk and reward position and consulting your advisor. It is advisable to take the advice of SEBI registered advisor.
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15th Dec ’23 - 0.5% variance b/w BankNifty & FinNifty - a first?BankNifty Analysis
The patterns and price action on BankNifty were interesting today. For the first time, I noticed a dichotomy with Finnifty’s points. BankNifty and FinNifty had a variance of 0.5% index-to-index basis. This gap remained as such for the entire day. I do not remember the last time they had a sizeable gap. 81.57% weighted stocks in Banknifty have a combined weight of 77.09% in Finnifty - still, we got a variance.
4mts chart link - click here
Today’s gap up was actually in the range set from yesterday. We did not break out until 14.27. So if we do not combine yesterday’s price action with today’s - the final painted picture will be different. The real deal today was NiftyIT which went up 4.56% and Reliance + Adani. SBI also played a part but BankNifty as a whole was not that crazy as Nifty. We finally ended the day with a gain of 0.86%. FinNifty ended with 0.32% gains.
63mts chart link - click here
BN has also made an island formation because of the gap-up yesterday. The stance remains unchanged at bullish. The first support level will be 47754. Meanwhile would like to find out why NiftyIT surged so much, definitely it has to do with some news or insider information.
Finnifty analysis for 12th December 2023 for educational purposeFinnifty analysis for 12th December 2023 for educational purpose
This video is for educational purpose and my personal view . We are NOT SEBI registered Advisor, we only give the level on our practical trading experience. Kindly take the trade according to your risk and reward position and consulting your advisor. It is advisable to take the advice of SEBI registered advisor.
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#Finnifty directions and levels for DEC 8th"Good evening, friends. Directions for December 8th: there is no significant difference from the last session. The global market sentiment is moderately bullish, supported by the Dow Jones. However, our local market sentiment shows a bullish trend. It might open with a neutral to slightly gap-up start.
We have an RBI monetary policy announcement tomorrow; the structure is not important here. The market might move based on the event. However, if the market experiences a pullback, it will likely reach the immediate resistance, a crucial zone. After that, if the market breaks it with a solid structure, then we can expect a pullback continuation. On the other hand, if it rejects that level, then the previous range will likely continue. The same applies to a downtrend. If the market finds support around the immediate support level, then the range will continue. However, if it breaks this level, we can expect correction continuation."
#Finnifty Directions and levels for DEC 7th."Good morning, friends🌺! As of December 7th, the global market sentiment is moderately bullish, supported by the Dow Jones. However, our local market sentiment shows a bullish trend. It might open with a gap-down start, considering the GiftNifty value at -50.
Afterward, if it breaks the immediate support level, then we can expect a continuation of the correction. However, if it finds support around the immediate support level, it might turn into a range market for a pullback continuation.
The rally will occur only if it breaks the previous high with a solid structure. Otherwise, it will form a consolidation structure."
#Finnifty directions and levels for DEC 6th."Good morning, friends🌺! As of December 6th, the global market sentiment is moderately bullish, supported by the Dow Jones. However, our local market sentiment shows an extremely bullish trend. It might open with a gap-up start, considering the GiftNifty value at +60.
Afterward, if the gap-up has a solid structure, then we can expect the rally to continue. On the other hand, if the gap-up doesn't sustain or if it reaches the immediate resistance with minor consolidation, then it might turn into a correction. However, we should wait for confirmation to use the Fibonacci levels from yesterday's minor low to the upcoming high. If it breaks the 38% level, then we can expect a minimum 78% swing low."
Finnifty Intraday Prediction Levels for 5 Dec 2023Finnifty Intraday Prediction Levels for 5 Dec 2023
The chart indicates 15 min time frame. These Levels act as Support and Resistance according to position of price . These are strictly for Intraday Trading only. Execution only after break out and close above the Resistance zone/ Line or break down and close below the Support zone/ Line.
These levels act as support and resistance. You have to trade according to level breakout or breakdown.
If You are a new trader then just watch (No Trade) these levels for some days.
Happy trading.
Disclaimer:
I am not a SEBI Registered Analyst. Anything posted here is my own analysis and views. This is created for educational purposes only. Always consult your Financial Advisor before taking any decision or trade.
#Finnifty direction and levels for DEC 5th"Good morning, friends🌺! As of December 5th, the global market sentiment is moderately bullish, supported by the Dow Jones. However, our local market sentiment shows an extremely bullish trend. It might open with a neutral to slightly gap-down, considering the GiftNifty value at -20.
Regarding yesterday's structure, despite a significant increase during the last session, the RSI displayed divergence. This signals a slightly negative aspect for the bullish bias. Therefore, if it opens with a gap-down, we might anticipate a 23 to 38% fib correction. If it finds support around that level, the market could shift into a ranging phase before resuming the rally. Structurally, there isn't a major correction anticipated, but sometimes, there might be a time correction.
Conversely, if the initial market stages a sharp pullback and breaches the immediate resistance, then we can expect the rally to continue."
FinNifty intraday levels for weekly expiry.Finance sector has finally made a new ATH and it was totally unexpected as there is a 3% move in both the finance indices.
FinNifty has given a nice upside move today. It has travelled more than 1000 points after break out of the recent swing high around 19780.
It has closed near to the day high which signifies some positive sentiment in the market.
Even the global markets reacted positively and now there can be a halt candle or a slight retracment.
If there is another gap up tomorrow, either it will take a halt or there will be a profit booking.
Gap down can create panic selling has the index has moved. It has given 6 consecutive green candle and there are chances of market taking a retest near the previous high and giving another move in december series.
Major Support levels :- 20670, 20420, 20235
The market is trading around the ATH and there is only round number resistance for the market.
Bullish trades can be created in small quantities as the market is stretched and may take a halt.
Wait for the price action near the levels before entering the market.
FINNIFTY | Is this the End of the current downfall?Navigating the Indian Market: A Simple Guide
Introduction:
The Indian market, including FinNifty, has been going down lately. This is a quick guide for anyone interested in trading, even if you're not a market expert.
Market Trends:
Think of the market like a rollercoaster. Recently, it's been going down, which can make people worried. But there's a line on the chart from March 2020 that's been like a safety net. If the market stays above that line, things will get better.
Short-Term Moves:
We can also pay attention and mark this week's low and until it is safe we can try to go long But be careful, and only risk a little money if you decide to jump in early.
Big Picture:
To go all-in and start making good money, we need to wait for the market to stay above 19665, marked on the chart. That would be a strong signal that the good times are back.
In these uncertain times, remember to be cautious but ready to grab opportunities. Success in trading is about finding the right balance between being careful and making your move when the time is right.
#Finnifty directions and levels for DEC 1st"Good morning, friends🌺! As of December 1st, the global market sentiment remains bullish, supported by the Dow Jones. However, our local market sentiment shows a moderately bullish trend. It might open with a gap-up, considering the GiftNifty value at +70.
After that, if the market sustains the gap up or consolidates, then we can expect a rally continuation.
On the other hand, if it doesn't sustain or if it rejects around the immediate resistance level, we can expect a correction of at least 38 to 78% in the minor swing."
Finnifty's Remarkable Performance Unveiled!
Finnifty has performed exceptionally well, finding support exactly where anticipated. As a technical analyst, witnessing precise analysis execution is truly gratifying. Remember, in the realm of markets, mastery is a continuous journey. Follow and share if you find resonance. Gratitude!
Explore the original analysis in the Profile
#Finnifty directions and levels for NOV 30"Good morning, friends🌺! As of November 30th, the global market sentiment remains bullish, supported by the Dow Jones. However, our local market exhibits a significantly bullish trend. It might open with a neutral to a slight gap-down, considering the GiftNifty value at -10.
Structurally, it appears to be a range-bound market. Even if it opens with a gap-up or gap-down, a minor correction of 23 to 38% can be expected. The rally will persist only if the market solidly breaks the immediate resistance level.
This same sentiment applies to a bearish structure, indicating that a correction will occur only if it breaks the 38% Fibonacci level. Until then, we can anticipate the market remaining within a range."
#Finnifty Directions and levels for NOV 28"Good morning, friends🌺! As of November 28th, there is no significant difference in the global and our local market sentiments compared to the last session. The global market sentiment remains bullish, as indicated by the Dow Jones. However, our local market shows a moderately bearish trend. It might open with a slight gap-up or a neutral start, considering the GiftNifty value at +5.
Structurally, there is a distribution wave occurring. So, if the market experiences a pullback with grinding, we can expect rejection around the immediate resistance level. However, if the pullback forms a solid structure, we can consider that a bullish sign.
On the other hand, if the market opens with a gap-down or experiences sharp initial declines, the range-bound market is likely to continue."🤝
Finnifty expiry analysis for 28th November 2023 for educational Finnifty expiry analysis for 28th November 2023 for educational purpose
This video is for educational purpose and my personal view . We are NOT SEBI registered Advisor, we only give the level on our practical trading experience. Kindly take the trade according to your risk and reward position and consulting your advisor. It is advisable to take the advice of SEBI registered advisor.
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#Finnifty directions and levels for NOV 24th"Good morning, friends! As of November 24th, there is no significant difference in the global and our local market sentiments compared to the last session. The global market sentiment remains bullish, indicated by the Dow Jones. However, our local market shows a moderately bearish trend. It might open with a slight gap-up or a neutral start, considering the GiftNifty value at +10.
Subsequently, if the market experiences a pullback, we shouldn't anticipate a significant move unless it breaks the immediate resistance.
Simultaneously, if it faces rejection around the immediate resistance, the market will likely continue within a range.
Conversely, if the gap-up isn't sustained or if it opens with a gap-down, we can anticipate a similar range-bound market sentiment. Correction may occur if the market breaches the immediate support zone."