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Nifty witnessed correction for 4th straight sesion Nifty remained in negative trend in today's session & closed near 22700 level Market continued with its correction phase for another session Investors seek to book profit in Mixed Global cues & ahead of imp US PCE Core data. A Bearish candle is formed on daily chart The imp upside hurdle is placed around 22850/900 level whereas downside support is around 22600 zone Track for price to form Price Action Patterns at Imp Levels, However market may show volatility during the last phase of elections Keep Tracking Charts *For Educational Purpose Learn & Practice Price Action setups
NSE:NIFTY
by Himanu_HATradeTalk1
NIFTY50 : RISING WEDGE BREAKDOWNNSE:NIFTY ◉Technical View ▲The up-trend started to lose its strength a few days back and formed a rising wedge price action. ▲The Rising wedge broke down from the trendline + Neckline and gave a good closing also with RSI confirming the Bearish Structure. ▲2nd confirming structure is double top, I always say location is important more than the structure and this double-top has formed at the weekly trend channel resistance line, a potential supply zone ▲The Major levels of support have been marked on the chart, kindly analyse and mark them on the chart. ◉Fundamental Event. Yesterday Conflict escalated between IRAN & ISRIAL so Majority of global markets took hit and closed in Red. ◉This Can possibly Trigger GAP down-opening then look for Retest to short. ◉Keep Risk under control by using Protective Stops. Keep Learning, Happy Trading.
NSE:NIFTY
by SANJAYPATIDAR_
Bank Nifty Futures Analysis for 2nd Jan 2024Bank Nifty is in good Support zone Today market was side base except last move. From 27 December 2023 -1 January 2024 it create a support Zone. Today we can see a fake breakout at14:15. Reason behind the reason: Volume was very not supporting the price. Also MACD was indicate downtrend for the day. If we see Option data at the time of price increase but CALL Open Interest in negating and PUT OI not adding .(Big money just square off his position nothing else) So it's purely indicate that at 48800 we can short our position. Tomorrow view: if market open near 48405 we will wait. Side base market is not for option buyer. if market open near about 48600 then we will find position after taking support at 48405 . If market open below 48405 then after 48200 and creat a bearish candle at 15 or 30 min or price wait for 10-15 min near 48405 in 5 min timeframe candle after that we can see a bearish move.
NSE:BANKNIFTY1!
by KaustavHazra
Bank Nifty Support Resistance 18Sept2023 As Per Techincal Analysis Market On Week High and as per day candel also markets at high levels As Per My Point Of View Market Need to Retest Downside Againt or Wait 2 3 days then breakout will be strong otherwise market can fall. Support Resistance For Tomorrow If the Market Opens Gapup Above 46315 then wait for sustenance or wait for retest previous day closing 46154. If Market sustenance above 46300 and Close a Green 15Mint Candel Then We can Go at Bullish Side For the Downside Market needs to Break 46000 Then a Downfall is Possible upto 46853-46814 For the Downside Market have to much resistance. Support Levels: 46150/46000/45853 Resistance if market open Gapdown then 46315 Support Resistance AS PER OI Data Big Support = 46000 Big Resistance 46500 But Minor resistance at 46200/46300 #banknify #supportresistance #nifty50 #techincal #tradingview #santubittu #Tommorwanalyis
NSE:BANKNIFTYShort
by santubittu
BankNifty at an Interesting JunctureBankNifty is currently positioned at a pivotal point, presenting traders with a potential opportunity. From a statistical perspective, the presence of a head and shoulder pattern at an all-time high often indicates a forthcoming correction. If this head and shoulder pattern is invoked, we could witness a correction ranging between 1500 to 1900 points in BankNifty. The chart elucidates the situation clearly. There is a robust support level at 44,000, with resistance levels situated at 45,000 and 45,500 . It's essential to remember that trading is fundamentally about gauging probabilities. If a downward movement ensues, it could drive BankNifty to levels around 42,000 . Conversely, if the head and shoulder pattern does not materialize, the index might challenge the right shoulder high, which corresponds to the first resistance level. Should it breach the second resistance at 45,500, it becomes highly probable that the all-time high will be surpassed. Trade wisely, and always consider the inherent risks and probabilities.
NSE:BANKNIFTY
by msk_analysis