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NIFTY

NIFTY prediction for tomorrow 31 May 24As we discussed, Nifty had a bearish structure; It has fallen by 287 points. If we look at the chart now: The market is trading in the bearish zone below 200 EMA. The market has taken support from the 0.50 Fib level while making a Morningstar pattern with a very nice volume spike. Price is trading below EMAs, showing a weak bull structure. If we look at the OI data: PCR = 0.53, which has fallen from 0.63, shows a market bearish structure. 22500 is going to be MaxPain. There is significantly more CE writing than PE writing, which shows that, right now, big players are just pushing the market to the downside. I am expecting: Case 1: Inside the Orange trendline, the market is going to be sideways in the range 22465-22613. Case 2: If the market breaks 22465 to the downside, we might see more bearishness to lower levels of 22200. Reasons: RSI < 40 falling from the upside shows a good bearish strength. RSI showing Bullish divergence. Price < EMA(13,200), which indicates a bearish market. The market has formed a lower high lower low structure in 15-min TH that indicates the market is bearish unless the market tends to form a Higher-High. PCR = 0.53 indicates huge bearishness. Price < VWAP shows that a weak market structure can lead to a bearish market. The market is making Morningstar star, which might force the market to hold the 22465 level. Verdict: Bearish or Sideways Plan of action : Case 1: Sideways: Sell 22450 PE & 22650 CE (Hedge it with 30/-) Case 2: Bearish: 22400 CE (Hedge it with 30/- CE) if the market continues bearish momentum.
NSE:NIFTY
by finnova_
6
NIFTY Intraday Trade Setup For 30 May 2024NIFTY Intraday Trade Setup For 30 May 2024 Bullish-Above 22810 Invalid-Below 22760 T- 23000 Bearish-Below 22680 Invalid-Above 22730 T- 22480 NIFTY has closed on a bearish note with 0.8% cut today. It was a low volatility day as overall range it traded was 22800 and 22700. It opened with a decent gap down of 125 points and in this case 10 o'clock range was to be used. Range broke downside below 22760 and gave 50 points move which was 1:1. Tomorrow if there is another gap down then I will watch for the 1st 5 Min candle's breakout either side. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 22810 then we will long for the target of 23000. For selling we need a 15 Min candle close below 22680. T- 22485. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:NIFTY
by Omahto
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
NIFTY prediction for tomorrow 30 May As we discussed, Nifty had a bearish structure; It has fallen by 187 points. If we look at the chart now: The market is trading in the bearish zone. The market is trading near the 0.38 fib level, which might provide a good support zone. But I am expecting the market to further go down till fib 0.50 (22481) levels. All the important levels have been marked on the chart. If we look at the OI data: PCR = 0.65 shows a market bearish structure. As tomorrow is NIFTY expiry, 22700 is going to provide a max-pain. There is more call writing on higher levels than PE writing on lower levels. The market is likely to end near 22500. Looking at the data, NIFTY might go bearish till 200 EMA. . Reasons: RSI < 40 falling from the upside shows a good bearish strength. EMA(13) > Price > EMA(200), which indicates an indecisive or rather sideways market. The market has formed a lower high lower low structure in 15-min TH that indicates the market is bearish. PCR = 0.65 indicates bearishness. Price < VWAP shows that a weak market structure can lead to a bearish market. Verdict: Bearish Plan of action : 22700 CE (Hedge it with 10/-) if the market continues bearish momentum. Note: you can target 200 EMA targets.
NSE:NIFTYShort
by finnova_
6
NIFTY Intraday Trade Setup For 29 May 2024NIFTY Intraday Trade Setup For 29 May 2024 Bullish-Above 23000 Invalid-Below 22950 T- 23230 Bearish-Below 22850 Invalid-Above 22900 T- 22630 NIFTY has closed on a bearish note with 0.19% cut today. Index traded inside yesterday's range and did not trigger any trade. In the weekend we discussed that after ATH breakout, chance of a small pullback or consolidation is high which seems to be in action. Now 23110 will be trigger for a strong bullish impulse. If short triggers below 22850 then we will be alert near 22745 as it can act as a CIP support. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 23000 then we will long for the target of 23200+. For selling we need a 15 Min candle close below 22850. T- 22630. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:NIFTY
by Omahto
NIFTY Prediction for tomorrow 29 May 24As we discussed, Nifty has a sideways or bearish structure; it ended sideways in 1st half, then bearish later 2nd half. If we look at the chart now: The market has broken 50 EMA and a good support zone to the downside. Also, an EMA(13, 50) bearish crossover is about to happen, which might lead to a bearish market structure. The market is making an HNS pattern and has broken the neckline to the downside, which might lead to a target of 22600 levels. If we look at the OI data: PCR = 0.80, which has fallen from 0.89, shows good CE writing at higher levels. 23000 will be acting as hard resistance at higher levels. Other than that, Nifty has good resistance at 23100, 23200, and 23300. Looking at the data, Nifty might go bearish in the upcoming session with a target of 22600 . Reasons: RSI < 40 falling from the upside shows a good bearish strength. EMA(13) > Price > EMA(50, 200), which indicates an indecisive or rather sideways market. The market has formed a lower high that indicates the market is bearish. PCR = 0.80 indicates mild bullishness, but this has fallen from 0.89, which shows good CE writing at higher levels. Price < VWAP shows that a weak market structure can lead to a bearish market. Verdict: Bearish Plan of action : 22800 PE (Hedge it with 10/-) if the market continues bearish momentum. Note: you can target 200 EMA targets.
NSE:NIFTYShort
by finnova_
3
NIFTY Intraday Trade Setup For 28 May 2024NIFTY Intraday Trade Setup For 28 May 2024 Bullish-Above 23030 Invalid-Below 22980 T- 23230 Bearish-Below 22870 Invalid-Above 22920 T- 22630 NIFTY has closed almost on flat note with minor cut of 0.11% today. It opened with 80 points gap up and then buy triggered near 12 o'clock which did not hit our target and revered to day low taking out our sl midway. Tomorrow 22745 will be an confluence level as that will be a CIP level after ATH breakout. Be alert at this zone for a bullish reversal structure. Below 22870 bears will try to take grip. Above 23030 we will plan long but we need a rejection first. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 23050 then we will long for the target of 23230. For selling we need a 15 Min candle close below 22870. T- 22630. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:NIFTY
by Omahto
NIFTY prediction for tomorrow 28 MayAs we discussed, Nifty has completed its 2nd wave and touched the mentioned target. If we look at the chart now: The market is trading in a heavy supply zone. Also, in the second half of today, the market had a huge PE windup. After this huge momentum, the market needs some consolidation to move on either side. There was a huge volume spike that shows the market is not yet ready to break 23000 levels. All important levels have been marked at the chart. If we look at the OI data: PCR = 0.89, which has fallen from 1.28. shows a good PE wind-off. The market might take some consolidation in the range 22800 - 23100. 23000 is still the maximum amount of pain in the market. sufficient CE and PE are writing both sides. But CE is freshly written, which indicates bears are slowly increasing their position in the market. I expect the market to go sideways or bearish. Reasons: RSI < 50 falling from the upside shows a good reduction in the bull's strength. EMA(13) > Price > EMA(50, 200), which indicates an indecisive or rather sideways market. The market is still making HH & equal low, which indicates a reduction in bull power. If it makes a lower low, the market will have a good fall. PCR = 0.98 indicates bullishness, but this has fallen from 1.34, which shows lots of profit booking on the upside. Price < VWAP shows that a weak market structure can lead to a bearish or sideways market. Verdict : Sideways or Bearish Plan of action : Sell 23000 CE and 22800 PE (Hedge it with 10/-) Note: Exit CE if nifty breaks 23000 to the upside & Exit PE if it breaks 22800 to the downside. But right now, there are more chances for the market to be sideways or bearish
NSE:NIFTY
by finnova_
2
NIFTY Intraday Trade Setup For 27 May 2024NIFTY Intraday Trade Setup For 27 May 2024 Bullish-Above 23040 Invalid-Below 22990 T- 23210 Bearish-Below 22900 Invalid-Above 22950 T- 22745 NIFTY has closed on a strong bullish sentiment with 2% gain last week. Index broke the weekly range of 22800 and 21800 in the upside. On 23 May EOD we discussed that index target can be set to 23850 zone as per FIB extension and range calculation. Before moving towards 23850 zone there can be small pullback or consolidation so 23050 will be trigger point for upside rally. Below 22900 pullback move can be triggered. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 23040 then we will long for the target of 23210. For selling we need a 15 Min candle close below 22900. T- 22745. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:NIFTY
by Omahto