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#nifty directions and levels for October 14th.Good morning, friends! 🌞 Here are the market directions and levels for October 14th. Market Overview: There have been no significant changes in the global or local markets. The global market is showing a bullish sentiment, while our local market has a moderately bearish trend. We anticipate a neutral to slightly gap-up opening today, with SGX Nifty indicating a positive +10 points as of 8 AM. In the previous session, Nifty closed with consolidation, while Bank Nifty experienced a minor correction. However, structurally, both are in a range-bound phase. Trading in a range market can be difficult as we may not see clear movement, direction, or option premium. However, if you’re looking to trade, we can consider a breakout entry, which I'll explain in the charts. Nifty: > If the market breaks either above 25,040 or below 24,897, we can enter a breakout trade. Target levels are 25,167 on the upside and 24,810 on the downside. > It is important to note that after a breakout, if the market experiences gradual movements or rejects the immediate support or resistance level, it is likely to close at the same level as it opened today. > On the other hand, if the market consolidates around the immediate support or resistance level after the breakout, the direction is likely to continue.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for October 14th.Bank Nifty: Bank Nifty is also in a range-bound market. However, the current view suggests that if the market opens with a gap-up or breaks the immediate resistance, we can expect a move towards 51,520. after that, If it rejects at that level, the range-bound market will likely continue. On the other hand, if it consolidates or breaks through, we can expect a rally continuation. Alternate View: The alternate view suggests that if the market opens negatively, we may see a gradual move towards 50,806. If that happens, we can expect a solid bounce back if the market rejects that level. On the other hand, if the decline forms a solid structure and consolidates around the MDZ, the correction is likely to continue.
NSE:BANKNIFTY
by Manickamtraders
4
EUR/USD: Will the ECB's Decision Determine the Future?Hello everyone! A new week is starting. Today, let’s join Alisa in predicting the EUR/USD currency pair. The EUR/USD pair continues to face downward pressure amid escalating geopolitical tensions in the Middle East. Fears of a large-scale conflict in the region have increased demand for the USD, while reducing the appeal of risk assets like the Euro. The ECB’s upcoming policy decision on Thursday also adds to the selling pressure on this currency pair. Looking at the 1-hour technical chart, the pair is fluctuating around the 1.0918 level, in a downtrend. With resistance at 1.0943 acting as a barrier, the EUR/USD pair is unlikely to break upward in the short term. If the pair breaks the 1.0920 support level, selling pressure could intensify, pushing the price to lower levels. What are your thoughts on the EUR/USD pair today?
by Alisa_Rokosz
11th Oct 2024 - BankNifty weekly index died - so did my AlgosBankNifty Stance Bearish ️⬇️ For the week of 7th to 11th October, BankNifty fell 382pts ~ -0.74%, the price action looked stable and sideways but the only reason I am bearish is because of the preceding week's price action. If BN reverses and takes out 51713 decisively, I will change my stance to neutral next week. Two major decisions happened on BankNifty this week. RBI MPC decided to keep the repo rates unchanged but they removed the "withdrawal of liquidity" ~ meaning, the money supply will not be restricted. NSE decided to remove the BankNifty weekly expiries as SEBI demanded that an exchange have only 1 weekly expiry per week. In the earlier discussions also, I had pointed out that NSE would always prefer to keep Nifty as the weekly expiry as it had everything to do with hedging. This happened despite BankNifty being the darling index for options traders. Personally, the algo that I am using will no longer work if BankNifty's weekly expiry is removed. I guess I tried out 50+ combinations to see if something could be worked out. The biggest challenge is the fees and charges for the monthly series as its premiums are higher. Definitely the lower theta is also working against it. It took me over 3.5 years to develop, iterate and perfect the Algo. You can notice how the profits have dropped when the monthly is chosen over the weekly. Both the screenshots are without the exchange charges, the moment that is included, monthly's PnL almost goes to RED. weekly PnL backtestmontly PnL backtestI am quite sure, many other traders would be impacted if their strategy is quite similar to mine. Guess there is no way out, but to decommission the program and think of something new. After all, when a door closes, 4 others should open.
NSE:BANKNIFTYShort
by viswaram
11th Oct 2024 - Stance is bearish even though we fell only 81ptsNifty Stance Bearish ️⬇️ On a week-to-week basis, Nifty only dropped 81 points, but the real reason I am still bearish is because the pullback we had on the 9th was not powerful enough to take out the last swing low. You can also notice the 50 EMA crossing the 200 EMA from top to bottom. I am using a 63mts custom time frame, but this must be true even for the hourly TF. All this happened even when the global markets were rallying. By the way, the US markets' SPX hit new all-time highs. This shrug-off in our markets may have to do with the new SEBI FnO rules. As a surprise to many, the BankNifty weekly index is getting removed and we will have only one Monthly expiry from December 2024. Has this spooked the markets, I think so. We will discuss that in a while. For the week of 14th to 18th Oct, I wish to start with a bearish stance and then go neutral if 25230 is taken out decisively.
NSE:NIFTYShort
by viswaram
Bitcoin is headed to 52000? Most probably YES!Symbol - BTCUSD CMP - 63017 The recent swings in BTC confirms the bearish market structure. After the 59K retest, the price rallies 7%. There is no technical or fundamental explanation for this price behavior - 6K down, 4K up, 5K down, 4K up within just 12-15 days. Bitcoin is still trading within a sideways range of 65K - 52K. The last resistance retest ended in a false breakdown and a price drop of 11% to 59K. Also, the local change of the market character (price confirms the downtrend) to bearish and formation of the downtrend channel. Emphasis on resistance 63400, 64130, 65000, possible retest or false breakdown followed by downside realization as we still have not reached the key liquidity zones. Important Resistance Levels as of now : 63400, 64130 Important Support Levels as of now : 61320, 59000 The price is testing the resistance zone as part of the rally. There is no accumulation or technical potential to overcome this area for further growth. Within the bearish trend, the buyer does not show dominant signs and with high probability it will be stopped in the key zone. A reversal and decline to the lower zone of the sideways range is possible. P.S. : My short position is open & I will add more position at mentioned resistance levels. Targets for this short position will be 57800 & 52500.
OANDA:BTCUSDShort
by akshit_official
CG Power and Industrial Solution - Breakout Setup, Move is ON...#CGPOWER trading above Resistance of 783 Next Resistance is at 1014 Support is at 647 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:CGPOWERLong
by MandeepSinghKohli
BTC Target Hit! New BTC Selling Trade is Active Be Alert Great to see that your BTC trade hit the target! Now that it's time to take advantage of the live selling opportunity, let's assess the chart: Current price: $63,281.41 The nearest resistance: around $63,400 There’s a stop loss level of $62,289.45, and you could aim for a new lower target around $62,800 if the selling pressure continues. It seems the price is consolidating near resistance, so a reversal might occur. You can consider entering a short position now if the price shows signs of rejection near this resistance level. What’s your plan for the next move on this setup?
CRYPTO:BTCUSDShort
by XTrap_000
23
Metropolis Healthcare Ltd - Breakout Setup, Move is ON...#METROPOLIS trading above Resistance of 2243 Next Resistance is at 2558 Support is at 1850 Here is previous chart: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:METROPOLISLong
by MandeepSinghKohli
1
BSE Ltd - Breakout Setup, Move is ON...#BSE trading above Resistance of 4169 Next Resistance is at 6645 Support is at 2586 Here is previous chart: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:BSELong
by MandeepSinghKohli
5
D. P. Abhushan Ltd - Breakout Setup, Move is ON...#DPABHUSHAN trading above Resistance of 1710 Next Resistance is at 1984 Support is at 1410 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:DPABHUSHANLong
by MandeepSinghKohli
Shakti Pumps (india) Limited - Breakout Setup, Move is ON...#SHAKTIPUMP trading above Resistance of 4923 Next Resistance is at 5795 Support is at 3880 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:SHAKTIPUMPLong
by MandeepSinghKohli
Va Tech Wabag Limited - Breakout Setup, Move is ON...#WABAG trading above Resistance of 1527 Next Resistance is at 2427 Support is at 972 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:WABAGLong
by MandeepSinghKohli
Anant Raj - Breakout Setup, Move is ON...#ANANTRAJ trading above Resistance of 728 Next Resistance is at 1005 Support is at 498 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:ANANTRAJLong
by MandeepSinghKohli
Gold Prices Surge: A Boost from U.S. InflationHello everyone. Today is Saturday. Let’s join me in predicting today’s gold prices! Gold prices continue to rise and are currently hovering at $2,657. This marks the second consecutive session of gains, pushing the total increase of the precious metal to $50 in just two days. The main driving force behind this rise comes from the latest U.S. inflation data, strengthening expectations that the Federal Reserve (Fed) will lower interest rates in the near future. Additionally, geopolitical tensions in the Middle East have also contributed to the increased demand for gold as a safe haven. Observing the technical chart, the gold price is drawing a very positive picture. With strong support at $2,638, the precious metal is showing a robust uptrend. If gold successfully breaks through the resistance level of $2,660, we can fully expect a powerful new price rally, opening up attractive opportunities for investors. This is my analysis. What about you? Do you agree with me?
OANDA:XAUUSD
by Alisa_Rokosz
Anant Raj - Breakout Setup, Move is ON...#ANANTRAJ trading above Resistance of 515 Next Resistance is at 728 Support is at 323 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:ANANTRAJLong
by MandeepSinghKohli