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Finniftylevels

#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
14 Aug ’23 Post Mortem on FinNifty - flavorless Expiry todayFinNifty Weekly Analysis We have fallen 2.31% ~ 464pts between the last expiry and today. This is definitely a good start for the bears. Unlike Nifty, Finnifty has managed to form a lower low on the 1hr TF. The first major support comes at 19421. FinNifty Today Analysis Due to HDFCBK’s weightage on Finnifty, we closed a 0.1% lower than banknifty today i.e at 0.3% ~ 66pts down.Chartwise today’s recovery was not as dramatic as Nifty50 and provides further room for bears to play. From an expiry perspective, the options premiums were not at all exciting even during the opening minutes. Since we had a good gap down, the expectation was that PE strikes would explode in premiums - but that did not happen. Guess the big-boys came prepared not to drive down the prices further. Retail traders like you and me were in the dark and had to guess the direction. Tomorrow will be a trading holiday as we are celebrating our 77th Independence Day - 15th Aug. This was the reason we had FinNifty expiry on Monday instead of Tuesday this week.
NSE:CNXFINANCEShort
by viswaram
1
#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 Mambotrade
#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 weekly expiry on 08/08/23.Finnifty on the daily charts has formed a dojo after a gap up opening and has closed below the 20 ema. DJI has given a bullish candle closing 400 points higher which gives a bullish move prediction in Indian markets too. On the hourly charts market has consolidated in a range of 100 points, closing between both the moving averages. Consolidation in done and breakout can give nice target. There is a bullish diverge in RSI indicator too. Even on 15 minute charts, it has closed between both the moving averages. Support :- 19970, 19870 Resistance :- 20050-90, 20210 The market has consolidated and bullish trades can be initiated once 20090 levels are crossed. Watch option premium as there will be time decay due to weekly expiry in FinNifty. Wait for the price action near the levels before entering the markets.
NSE:CNXFINANCE
by Mambotrade
#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
#finnifty"Good morning! As of August 3rd, the global market sentiment is slightly negative (based on the Dow Jones alone), and the market trend is bearish. Therefore, whether it opens with a gap-up or down doesn't matter. If the initial market experiences sharp declines, we can anticipate a continuation of corrections with minor pullbacks (potentially breaking the previous day's low). On the other hand, if the initial market undergoes some consolidation, there is a possibility of a 50 to 61% pullback (with the potential to break the 38% Fib level)."
NSE:CNXFINANCE
by Manickamtraders
01 Aug ’23 Post Mortem on FinNifty and weekly analysisFinNifty Analysis From the last expiry and today, Finnifty has fallen 197pts ~ 0.96%. We did hit an ATH of 20666 on 27th Jul and the same day we fell quite deeply. Today’s close is almost matching the intraday low set on that day. Today’s Analysis There was some interesting price action till 12.50 today - the fall was quite decent to watch esp after a gap up open. However the momentum was not in favor and we quickly gained back 82pts ~ 0.41% to finally close flattish. The usual volatility was missing today. Usually the trading in finnifty sucks out the liquidity from nifty and banknifty - but did not see that much activity today. Will wait for final traded contract numbers from exchange to verify this. ... Comment with your thoughts, opinion or bias, I will respond with the levels I am watching for tomorrow !
NSE:CNXFINANCE
by viswaram
4
Finnifty Expiry trade setup 01-08-2023 FinNifty important intraday levels to watch for 31-07-2023 #Support: 20320 Short if candle closes below 20320. #resistance: 20375 Long if candle closes above 20375. #Targets on downside after break of support. Target 1= 20290 Target 2= 20235 #Targets on upside after break of resistance. Target 1= 20420 Target 2= 20470 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
#finniftyGood morning! As of August 1st, the global market has a slightly positive sentiment (based on only Dow Jones), and the market nature is moderately bullish. Therefore, it might start with a minor gap-up. After that, if the market rejects the immediate resistance, we can expect a minor correction. On the other hand, if it breaks through, it moves your target to the next resistance level. However, if the market opens gap-down, we can expect a range-bound market. We can anticipate a correction only if it breaks the previous bottom.
NSE:CNXFINANCE
by Manickamtraders
FinNifty levelsFinNifty support and resistance levels are valuable tools for making informed trading decisions, specifically when combined with the analysis of 5-minute timeframe candlesticks and VWAP. By closely monitoring these levels and observing the price movements within this timeframe, traders can enhance the accuracy of their entry and exit points. It is important to bear in mind that support and resistance levels are not fixed, and they can change over time as market conditions evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance to consider. We hope you find this information beneficial in your trading endeavors. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you success in your trading activities!
NSE:CNXFINANCE
by sacxe
#finnifty"Good morning! As of July 31st, there is no significant difference between the last session, but the global market has a neutral sentiment (based on only Dow Jones), and the market nature is bearish. Therefore, it doesn't matter if it opens gap-up or down. If the initial market takes sharp declines, we can expect correction continuation with minor pullbacks. On the other hand, we can expect a rally only if it opens with a gap-up and sustains above the level of fib 38%. If it sustains, our next targets are 61% and 78%. Here, I mentioned a reversal structure (alternate view). If it rejects sharply around the 61% or 78%, we can expect a correction, but use the confirmation signal of (EMA20 and fib level 38%). If it breaks both signals, we can expect a correction. Otherwise, the rally might continue."
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NSE:CNXFINANCE
by Manickamtraders
7
#finnifty"Good morning! As of July 27th, the global market indicates a negative start (based on only Dow Jones), and the market nature is bearish. Therefore, it doesn't matter if it opens gap-up or down; if the initial market takes sharp declines, we can expect correction continuation with minor pullbacks. On the other hand, we can expect a rally only if it opens with a gap-up and sustains above the level of fib 38%. If it sustains, our next targets are 61% and 78%. Here, I mentioned a reversal structure (alternate view). If it rejects sharply around the 61% or 78%, we can expect a correction, but use the confirmation signal of (EMA20 and fib level 38%). If it breaks both signals, we can expect a correction. Otherwise, the rally might continue."
NSE:CNXFINANCE
by Manickamtraders