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Finniftyanalysis

29 Aug ’23 Post Mortem on FinNifty + Weekly AnalysisBetween the last expiry and today, FinNifty has moved up 1.4% ~ 272pts in what looked like a show of strength by the bulls. Since this came right from the trend line, the scales are now weighing for a bull run. We have broken the falling wedge pattern and the support of 19424 looks quite impenetrable. Today was a flat day for FinNifty but the inability to drive down the prices will give some added boost to the bulls by tomorrow & 31st Aug. Already FinNifty and BankNifty have given enough clues to Nifty on a possible trend change from bearish to bullish on the 1hr and 1D time frames. Slowly but surely Nifty should follow the financial sectors to outperform unless the NiftyIT has some stories to tell. I wish to maintain a bullish stance on FinNifty till the support of 19424 holds.
NSE:CNXFINANCELong
by viswaram
#finnifty"Good morning! As of August 2nd, there is no significant difference compared to the last session. The global market sentiment is slightly positive (based on the Dow Jones alone). The market trend is moderately bullish, and the market might open with a slight gap-up. Therefore, we can expect a minor pullback afterward. If the market rejects the immediate resistance zone, we can anticipate a correction. Alternatively, if the market consolidates or breaks beyond it, the pullback will likely continue. On the other hand, if the gap-up doesn't sustain and breaks the 38% Fib level, then the correction will probably persist."#nifty #banknifty #finnifty
NSE:CNXFINANCE
by Manickamtraders
Finnifty monthly expiry analysis for 29/08/23.Finnifty has taking resistance from 20 ema and has close between both the moving averages on the daily charts. On the hourly charts, market has crossed and sustain above the 20 ema and is still between both the moving averages. Tomorrow is the monthly expiry and the market has not given any trending market for few session and there are chances of a trending market. On 15 minute time frame, there is a bullish moving averages cross over and has closed above both the EMAs. It is taking resistance from 61.8% fib levels. Watch if it a retracement or trend reversal. Decide the trend only when market start trading outside the previous candles either on the upside or down side. Support :- 19680, 19530-50 Resistance :- 19780, 19830, 19910 The market has been moving in a side ways mode. Option buyer watch for a clear setup trade as time decay will eat the premiums. Wait for the price action near the levels before entering the market.
NSE:CNXFINANCE
by TheMamboMomentum
#finnifty"Good morning! As of August 28th, the global market sentiment is slightly positive (based on the Dow Jones alone). The market trend is moderately bullish, and the market might open with a slight gap-up. Therefore, we can expect a minor pullback afterward. If the market rejects the immediate resistance zone, we can anticipate a correction. Alternatively, if the market consolidates or breaks beyond it, the pullback will likely continue. On the other hand, if the gap-up doesn't sustain, then the correction will probably persist."
NSE:CNXFINANCE
by Manickamtraders
#finnifty"Good morning! As of August 23rd, the global market sentiment is slightly negative (based on the Dow Jones alone), while the market trend is moderately bullish. The market might open neutrally, suggesting a ranging market. If it breaks yesterday's high after the neutral opening, we can expect a pullback continuation. On the other hand, if the initial market declines, it will likely undergo a minimum 78% Fibonacci correction. After that, if it rejects around the 78% level, we can expect a pullback. Conversely, if it consolidates or breaks the 78% level, the correction is likely to continue."
NSE:CNXFINANCE
by Manickamtraders
FinNifty weekly expiry analysis for 22/08/23.FinNifty has been trading in a range for last 3-4 session and tomorrow being an expiry there can a trending move. A morning star pattern is there on the daily charts but the resistance level of 19600 is still being respected. If the market starts trading above the level there will be a nice up move as it has consolidated. On the hourly charts, market has given a breakout of 20 ema and is retesting the levels. In the second half of the trading session market remained in a range and lost some gain. On 15 minutes charts, it has closed below both the moving averages and even the RSI is showing some negativity. Support :- 19500, 19440, 19320 Resistance :- 19615, 19670 There are resistances in the short range and market has to clear these resistances in order to form a bullish trend. Still the trend is not clear and scalp trades can be done until the market give some confirmation of the trend. Wait for the price action near the level before entering the market.
NSE:CNXFINANCE
by TheMamboMomentum
#Finnifty"Good morning! As of August 17th, there isn't a significant difference from the last session. The global market sentiment is negative (based on the Dow Jones alone), while the market trend is moderately bullish. The market might start with a gap-down. After that, if the market takes a pullback around the immediate support zone, we can expect a range-bound market or a pullback continuation. If it breaks the immediate support zone, then the correction will likely continue."
NSE:CNXFINANCE
by Manickamtraders
#Finnifty"Good morning! As of August 16th, the global market sentiment is negative (based on the Dow Jones alone), while the market trend is moderately bullish. The market might start with a gap-down. After that, if the market takes a pullback around the immediate support zone, we can expect a minimum 38% pullback. If it breaks the immediate support zone, then the correction will likely continue. On the other hand, if the decline doesn't break yesterday's low, it might turn into a range-bound market."
NSE:CNXFINANCE
by Manickamtraders
#finnifty"Good morning! As of August 14th, the global market sentiment is neutral to slightly negative (based on the Dow Jones alone), There is no significant difference from the last session. While the market trend is bearish. Therefore, there might be a start with a minor gap-down. After that, if the market takes a pullback around the immediate support zone, we can expect a minimum 38% pullback. or if it breaks it(immediate support zone), then the correction will likely continue. On the other hand, if the initial market shows a positive start, we can expect a ranging market."
NSE:CNXFINANCE
by Manickamtraders
FinNifty weekly expiry for 14/08/23.FinNifty has closed below the swing low and for consecutive 3 weeks it has given red candle. The market tried to retrace from the 19730 levels but this time it has closed below it. On the daily chart, there is a low formation, retest and again it is forming another low. The bearish trend is confirmed and once the index start trading below the previous day low bearish trades can be entered. It has closed between both the moving averages and the formation of an inverted cup is there which gives more conviction of the move to be a trending move. On the hourly charts, the market has formed a bearish moving averages cross over and it has closed below both the moving averages. There are chance of market retesting the moving averages. If there is a negative candle formation near the level, enter a bearish trade. 19780-19850 range is a volatile range. It will be wise too avoid trading in this range as there is too much volatility in this range. Support :- 19620, 19500 Resistance :- 19750, 19835, 19920 Tomorrow is Finnifty expiry and option premium will give good decay. The index on the smaller time frame is forming a lower low lower high pattern which can give confidence in a bearish trade. Wait for the price action near the levels before entering the market.
NSE:CNXFINANCE
by TheMamboMomentum
#finnifty"Good morning! As of August 11th, the global market sentiment is neutral to slightly negative (based on the Dow Jones alone), while the market trend is moderately bearish. Therefore, there might be a start with a minor gap-down. After that, if the market takes a pullback around the immediate support zone, we can expect a minimum 38% pullback. or if it breaks it(immediate support zone), then the correction will likely continue. On the other hand, if the initial market shows a positive start, we can expect a ranging market."
NSE:CNXFINANCE
by Manickamtraders
#finnifty"Good morning! As of August 10th, the global market sentiment is slightly negative (based on the Dow Jones alone), while the market trend remains moderately bullish. There is no significant difference from the last session. Therefore, whether it opens with a gap-up or down, it won't matter. If the initial market experiences sharp declines, we can anticipate a ranging market or a correction. On the other hand, if the market exceeds yesterday's high, we can expect the rally to continue with minor corrections. However, the important thing to note is that today's market has a significant event: the RBI MPC meeting at 10 am. This is a major event, and the market will likely move based on its outcome. So, it's advisable to take your position a bit more cautiously."
NSE:CNXFINANCE
by Manickamtraders
#Finnifty"Good morning! As of August 9th, the global market sentiment is neutral to slightly negative (based on the Dow Jones alone), while the market trend remains moderately bullish. There is no significant difference from the last session. Therefore, whether it opens with a gap-up or down, it won't matter. If the initial market experiences sharp declines, we can anticipate a ranging market. However, if it breaks the immediate support zone, the correction is more likely to continue.. On the other hand, should the market exceed yesterday's high, we can expect the rally to continue with minor corrections."
NSE:CNXFINANCE
by Manickamtraders
08 Aug ’23 Post Mortem on FinNifty - weekly analysis - neutral !FinNifty Weekly Analysis Between the last expiry and today, CNXFINANCE has fallen 219pts ~ 1.08%. The majority of the fall came on 02 and 03 Aug after which we have seen a recovery of 1.9% from the lows. FinNifty Today Analysis If you look at today’s 5mts chart, it was a steady upward moving market with a healthy pullback. Even when the index was falling from 10.55 to 11.30 - there was no visible threat in the short term upward bias. Shortly after this fall we had a rally of 104 pts to hit an intraday high of 20120 by 14.25. The short term stance continues to be neutral with a slight bullish bias because we just cut through a bearish trend line.
NSE:CNXFINANCE
by viswaram
Finnifty Expiry Trade Setup for 08-08-2023FinNifty important intraday levels to watch for 08-08-2023 #Support: 19970 Short if candle closes below 19970 #resistance: 20080 Long if candle closes above 20080 #Targets on downside after break of support. Target 1= 19920 Target 2= 19850 Target 3= 19745 #Targets on upside after break of resistance. Target 1= 20135 Target 2= 20230 Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital. Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
NSE:CNXFINANCE
by InvestyourAsset
#finnifty"Good morning! As of August 8th, there is no significant difference compared to the last session. The global market sentiment is slightly positive (based on the Dow Jones alone), while the market trend remains moderately bullish. Therefore, whether it opens with a gap-up or down, it doesn't matter. If the initial market experiences sharp declines, we can anticipate a ranging market. On the other hand, if the market surpasses yesterday's high, we can expect a continuation of the rally with minor corrections."
NSE:CNXFINANCE
by Manickamtraders
#finnifty"Good morning! As of August 4th, there is no significant difference compared to the last session. However, the global market sentiment is slightly positive (based on the Dow Jones alone), and the market trend is bearish. There is a possibility of opening with a neutral to slight gap-up. Afterward, if the initial market breaks the previous day's closing price, it will reach the 38% Fib level. This level acts as a strong resistance, so there might be a rejection here. We can expect a continuation of the pullback only if the market breaks the 38% Fib level. On the other hand, if the initial market experiences sharp declines, we can anticipate a continuation of corrections with minor pullbacks, but it should break the previous day's low."
NSE:CNXFINANCE
by Manickamtraders