FINNIFTY Analysis for May 24, 2023FINNIFTY is range bound since last couple of Days and may either give breakout of 19470 resistance or breakdown of the support line on which it has taken support for Four times.
Finniftylevels
finnifty 24th may triangle pattern finnifty is continuing in triangle pattern and it is yet to break long support trend line. If it breaks the trendline support at 19377 then possibly it can go 19089 level. If it takes support at 19377 level and bounce back then possibly finnifty can be in the range bound or it can go 19589 level.
don't be bullish or bearish. Trade with the market direction
BUY Above 19431(FINNIFTY 19350 CE) Target 19465,19497,19534,19587
SELL Below 19268 (FINNIFTY 19350 PE) Target 19212,19147,19089
PostMortem on BankNifty Today & Analysis of 23 MAY 2023 FINNIFTYToday's price action on the 3 indices NSE:NIFTY , NSE:BANKNIFTY and NSE:CNXFINANCE were conflicting due to which none of them really went anywhere. NiftyIT had a down day that doused the fire in Nifty50 to break-through the resistance of 18419.
Similarly Finnifty was unable to get past 19421. From the start there was huge shorting on banknifty on CE side which may have set the tone for the day. Nifty50 started gap-up and had gone to the resistance level by 10.15, but the shorting on bank & financials limited Nifty's gains.
Banknifty also opened gap-up at 43978 and there was a move upwards, something that we can expect with how the day closed yesterday. This momentum faded out at the 44080 levels and from there BN was not going anywhere.
There was a fall of 243pts between 14.25 & close. Nothing major to complain, but we all know why the last 1hr move today does not mean anything. Yes, it was finnifty expiry day.
The big-boys knew this at the open itself, I got to know the shorting intensity after 1hr of open. A little bit of that was due to the Finnifty expiry - which we will discuss separately today.
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15mts TF shows range bound move ahead, it did not show the shorting intensity, neither can we make out from the chart pattern so far.
The bias has not changed to bearish mode, it will only if the 43253 support is broken. Do the shorts have enough strength to bring BN down to that levels - we will get to know by tomorrow.
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1hr is still showing a converging chart pattern, just a continuation from yesterday. There is no change in bias as of now.
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Finnifty Expiry special
Finnifty was the weaker among the 3 indices - Nifty, BankNifty & Finnifty. That was obvious as the expiry day traders would want the market to expire near previous close as much as possible. This will give them max gains for straddles.
When Nifty50 was racing ahead, finnifty stayed quite flat. It was trading around the 19421 Support/Resistance zone but did not have any momentum to push it either way.
The last 1 hr session was different from the rest of the day, we had a drop of 0.56% ~ 108pts to ensure Finnifty expires as flat as possible (0.06% gains). Also after 14.30 the premiums of both CE and PE were almost dead which made perfect sense for a small directional move. The option sellers would not have been hurt so much.
FINNIFTY triangle pattern on 23rd mayFInnifty is forming triangle pattern and it should break either way. But looking at the OI data this might end up in range bound or mostly towards 19089 level.
BUY Above 19431(FINNIFTY 19350 CE) Target 19465,19497,19534,19587
SELL Below 19268 (FINNIFTY 19350 PE) Target 19212,19147,19089
#FinniftyGood morning! As of May 23rd, the global market has shown a neutral to slightly positive start with a moderately bullish market nature. There may be a gap-up at the beginning. After that, if it sustains or if the market sharply pulls back at the start, we can expect a continuation of the rally with minor consolidation. Additionally, Nifty is currently exhibiting a long rally, while Bank Nifty is in a range market with a bullish structure. Once the range market breaks, the rally may take off sharply. On the other hand, if the market declines or rejects the immediate key zone at the start, we can anticipate a range-bound market or a continuation of the correction.
Fin Nifty Expiry levelsLet the market come to these levels and make a range or retest and then see where it goes. See the movement in small timeframe.
Fin Nifty - Prediction & Intraday Levels for - 23 May 2023Finnifty Analysis for Tomorrow:
Trend - BULLISH
Sentiment - Positive
BUY for Target of 19460 / 19520 (Being expiry day, take entry after 1:30 Pm its the best timing for Expiry day trades)
Buyers and Sellers Zones - When price breaks the zone, Buyers zone will become Resistance and Sellers zone will become Support.
Refer the chart for detailed Intraday Support and Resistance levels.
Happy Trading!!
finnifty 22nd may 2023BUY Above 19431(FINNIFTY 19350 CE) Target 19465,19497,19534,19587
SELL Below 19268 (FINNIFTY 19350 PE) Target 19212,19147,19089
#FinniftyGood morning! As of May 22nd, the global market has shown a negative start with a moderately bearish market nature. There may be a gap-down at the beginning. After that, if it sustains, we can anticipate a range-bound market or a continuation of the correction. On the other hand, if the market sharply pulls back at the start, we can expect a continuation of the rally with minor consolidation.
Fin Nifty Levels for 22-05-2023In Fin Nifty Upper side 19460-19485 is Important Level
and Lower Side 19200 is important level.
Previous day nifty has closed @ 19420 @ Near downward Trendline.
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Simple Trade Setup | FINNIFTY | 22-05-2023 [INTRADAY]NSE:CNXFINANCE
Flip zone: : This zone is such a zone which will work as resistance if price is below it. And it will work as support if price is trading above it.
Resistance zone: This zone will mainly work as resistance. Once price sustain above it then it is considered as breakout.
Support zone: This zone will mainly work as support. Once price sustain below it then it is considered as breakdown.
All other levels between zones are such a level that you can scalp from it , book partial/full profit and also use it as trailing SL.
Good trade setup with good Risk reward will be only if we enter from any of zone.
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Trade Setup for 22-05-2023
Most of all the levels and zones remains same as per previous.
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
#FinniftyGood morning! As of May 19th, the global market has shown a positive start with a moderately bearish market nature. There may be a gap-up at the beginning. After that, if it sustains, we can expect a pullback continuation. If it rejects in the immediate key zone, we can anticipate a range market or a correction. On the other hand, if the market declines sharply at the start, that's a sign of a correction continuation.
Finnifty 18th may (Cup pattern)finnifty forming a cup pattern and in 45 mins timeframe it's forming morning star pattern which indicates bullish trend. I would suggest to be neutral and trade accordingly with the market direction.
BUY Above 19357(FINNIFTY 19300 CE) Target 19399,19431,19465,19497
SELL Below 19212 (FINNIFTY 19150 PE) Target 19147,19089,19020
#FinniftyGood morning! As of May 18th, the global market has shown a positive start with a bearish market nature. There may be a gap-up at the beginning, and there is a possibility of a sub-wave 4th. So, if it sustains, we can expect a minor three-wave structure. After that, if it rejects in the key zone, we can expect the 5th wave on the downside. However, the minor pullback shouldn't break the fib level of 78%. On the other hand, if the market declines sharply at the start, we can expect a 5th correctional wave.
FINNIFTY LONGI will be looking to open long positions in finnifty in upcoming trading session, aim for longs will be 19500
finnifty 17th may - head and shoulderFin nifty is forming a head and shoulders pattern and it can go up to 19277 as par the pattern. Better to be neutral and trade with the market direction.
BUY Above 19480(FINNIFTY 19400 CE) Target 19540,19627,19692
SELL Below 19373 (FINNIFTY 19300 PE) Target 19336,19297,19256
#FinniftyGood morning! As of May 17th, the global market has shown a neutral to slightly negative start with a bearish market nature. There may be a gap-down at the beginning, and there is a possibility of sub-wave three. If it sustains, we can expect a continuation of the correction with minor consolidation. On the other hand, if the market declines sharply at the start, we can expect a range market.
#Finnifty"Good morning! As of May 16th, today's sentiment remains the same with no significant difference compared to the last trading session. However, the global market has shown a positive start with a moderately bullish nature. There may be a gap-up at the beginning, and if it sustains, we can expect a continuation of the rally with minor consolidation, but it should break the immediate resistance level. On the other hand, if the market declines sharply at the start, we can expect a correction. If you want confirmation, you can use EMA20 and fib. If the market breaks EMA20 and the fib level of 38%, that's a sign of a trend reversal."
finnifty 15th may 2023finnifty looks like gaupup opening and from there it can fall and take support at 19450 level and bounce from there.
BUY Above 19540(FINNIFTY 19500 CE) Target 19579,19623,19692
SELL Below 19445, (FINNIFTY 19500 PE) Target 19386,19337,1927,19256
Finnifty is getting ready for 20K , Do not miss 19500 buy levelFinnifty is getting ready for 20K , Do not miss 19500 buy level
Finnifty is creating good up trending channel & good support is seen around 19500 levels .
If it retests channel bottom support go long for the target of 20K+.
#Finnifty"Good morning! As of May 15th, there is no significant difference compared to the last trading session. The global market has shown a negative start with a moderately bullish nature. It may begin with a gap-down, and if the gap-down sustains, we can expect a correction with minor consolidation. On the other hand, if the market sharply pulls back at the start or rejects the immediate support zone, that's a sign of a range market and a pullback continuation."
#Finnifty"Good morning! As of May 12th, the global market has shown a negative start with a moderately bullish nature. It may begin with a gap-down, and if the gap-up sustains, we can expect a continuation of the correction with minor consolidation (sub-wave 5 wave structure). On the other hand, if the market sharply pulls back at the start or rejects the immediate support zone, that's a sign of a range market and a pullback continuation."
#Finnifty"Good morning! As of May 11th, the global market has shown a positive start, with a moderately bullish nature. It may begin with a gap-up, and if the gap-up sustains, we can expect a continuation of the rally with minor consolidation. On the other hand, if the market declines sharply at the start or rejects the immediate resistance zone, that's a sign of a reversal. However, it should break the Fib level of 38%."
