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NIFTY

Nifty Analysis for tomorrow Expiry | 14 March 24As we have discussed, NIFTY has been in the uptrending channel. It has been broken to the downside with huge volume power. If we look at the chart now: The market has broken the channel to the downside and is continuing its momentum to the downside. Whereas 21900 is a good support zone that might provide support. If it's broken, the next support point will be 21500. as marked in the chart. If we look at the OI data: PCR = 0.50 shows huge bearishness in the market. 22000 is a max pain point for now. On lower levels, there are not many support levels. On higher levels, there is huge CE writing at 22000, 22100, 22200 ... etc. I am expecting the market to fall more to 21500 levels this week. Reasons: RSI < 40 shows weakness in bulls. price < EMAs shows bearish strengthen market. PCR = 0.50 shows a bearish market. price < VWAP indicates bearish sentiment in the market. Verdict: Bearish Plan of Action: Sell 21900 CE (Hedge it with 15 premium CE).
NSE:NIFTYShort
by finnova_
7
NIFTY Intraday Trade Setup For 13 Mar 2024NIFTY Intraday Trade Setup For 13 Mar 2024 Bullish-Above 22460 Invalid-Below 22410 T- 22665 Bearish-Below 22250 Invalid-Above 22300 T- 22090 21900 NIFTY has closed on an absolute flat note today. It was trading between Mars and Moon but eventually landed on Earth. Till the time index is trading between the parallel channel in daily TF momentum is going to shrink and filled with random moves. Wait for this pattern either side to get a tradable market with VIX above 15. Tomorrow 22460 and 22250 are important levels for watch out for breakout. If index trades between this range then I will not touch it as directional purpose. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 22460 then we will long for the target of 22660. For selling we need a 15 Min candle close below 22250. T- 22090 and 21900. 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
12 Mar ’24 — 10:43 candle gives me cold shivers!Nifty Analysis - Stance Bullish ⬆️ Recap from yesterday: “If Nifty50 has to change its character, the price has to fall below 22295 and then below 22051 wherein the higher low will get violated.” 4mts chart I was stunned by the Nifty50 and BankNifty price moves today. We started the day in line and then the 09.31 GREEN candle surprised me, a quick surge that took Nifty50 up by 134 points ~ 0.6% by 10.15. What followed was even scarier: a fall of 194 points ~ 0.87% by 10.43. A single candle moved 131 points ~ 0.59%. When was the last time you remember seeing Nifty move that much in a single 4-minute candle? We briefly violated the support of 22295 but got back in a quick time. From there on Nifty50 had no more aggressive swings and managed to close flat today. On the higher time frame, the stance continues to remain bullish. As long as 22295 support holds, there is no meaning in revising the stance. One thing is sure, the sudden price moves we are seeing right now are quite indicative of a massive shift in fundamentals. Technical Analysis cannot detect the directional impact this early, but it would be prudent to keep an eye out for any possible clues. The small caps -1.98% and mid caps -2.55% are bleeding RED, and even some Nifty sub-sectors are also down by quite a bit - Realty -3.71%, PSU Banks -2.57%, media -1.85%, Metals -1.73%. 63mts chart
NSE:NIFTYLong
by viswaram
NIFTY Intraday Trade Setup For 12 Mar 2024NIFTY Intraday Trade Setup For 12 Mar 2024 Bullish-Above 22450 Invalid-Below 22400 T- 22655 Bearish-Below 22300 Invalid-Above 22350 T- 22090 21900 NIFTY has closed on a bearish note with 0.72% cut today. Sell triggered as per trade setup below 22430 and gave a move till 22310, targets were not achieved although it gave 100+ points gain. Tomorrow 22450 is the key level for a bullish reversal on a flat opening or opening below 22430. In case it opens gap up near 22505 then a sell off can be seen once again. Index has been trading in the parallel channel in daily TF and has been rejected from mid line of that. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 22450 then we will long for the target of 22655. For selling we need a 15 Min candle close below 22300. T- 22090 and 21900. 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 Intraday Trade Setup For 11 Mar 2024NIFTY Intraday Trade Setup For 11 Mar 2024 Bullish-Above 22530 Invalid-Below 22480 T- 22710 22850 Bearish-Below 22420 Invalid0Above 22470 T- 22200 21980 NIFTY has closed on a slight bullish note with 0.51% gain last week. Few week back in the weekend analysis it was discussed that index has been trading in a parallel channel in daily TF. Still index has maintained its pattern. This is not an clear impulse I personally feel, rather a stretch or distribution. Clear move will be seen on this pattern breakdown. Till then I have reduced my position size and have been focusing on non direction approach (strangles). Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 22530 then we will long for the target of 22710 and 22850. For selling we need a 15 Min candle close below 22420. T- 22200 and 21980. 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
1
07 Mar ’24 — Another stable day, getting ready for next jump?Nifty Analysis - Stance Bullish ⬆️ Recap from yesterday: “We are maintaining our bullish stance for tomorrow as well, but we are not expecting 22600 to be broken tomorrow.” 4mts chart It was another perfect day for the option sellers, mostly the short straddlers. Nifty struck a narrow range today and had no special adventures. Looking at how Nifty50 traded today makes me remember the Cricket commentators saying “After hitting the first 2 balls for 6 & 4s, take singles and rotate strikes..”. Nifty50 did the exact same thing today. The rotations were in the sub-sectors and the market breadth was improving. Media, Metal, FMCG, Pharma, Consumption, and Commodities all did well today and the laggards were Banks and Energy. Between the last expiry and today, Nifty50 rose 440pts ~ 2%. Most importantly it took out 2 support/resistance levels - 22051 and 22295. And we rewrote the ATH twice. As it looks everything looks GREEN on this side. Tomorrow will be a holiday in India, so our next market action will be on Monday. If US markets advance and take out their ATHs by then, we can expect a huge gap up in the next session. In case the Global macros weaken over the weekend - the Bull's party could be cut short too. Wish you a happy weekend. 63mts chart
NSE:NIFTYLong
by viswaram
06 Mar ’24 — New ATH, yet again - are you a believer now?Nifty Analysis - Stance Bullish ⬆️ Recap from yesterday: “Nifty managed to pull up and close above 22358 which is not a bad thing at all, but what was worrying is how NiftyIT traded today.” 4mts chart How many of you really thought we would hit a new ATH today? Even if you happened to read yesterday’s post-mortem report - you might not have gathered enough courage to go long. The markets really took all of us for a ride today. The opening hours it spent below the 22295 support showing a strong intent to fall. NiftyIT was trading with deep cuts and went almost to negative 558 points by 11.39. BankNifty on the other hand started strong and stayed strong and could pivot NiftyIT to go green. Even though the market views all favored us, the positions did not. The underpricing of the call options and the strong short-covering really hurt us. What is more saddening is the low conviction of the CALL short sellers, the moment the market turns - they run for cover. And this running away is fueling further upmove which triggers the next strike’s covering. The strength of the last 2 GREEN candles requires no special explanation. Right from the support level, it went and took out the all-time highs. Two things were in favor, firstly the strength of Banks and then the massive reversal of NiftyIT. We are maintaining our bullish stance for tomorrow as well, but we are not expecting 22600 to be broken tomorrow. 63mts chart
NSE:NIFTYLong
by viswaram
NIFTY Intraday Trade Setup For 2024NIFTY Intraday Trade Setup For 2024 Bullish-Above 22500 Invalid-Below 22450 T- 22675 22850 Bearish- Below 22350 Invalid-Above 22400 T- 22170 21980 NIFTY has closed on a bullish note with 0.53% gain today. After 3 days of decline move it gave a slight good move in today's session. Now it has given a fresh breakout after consolidating so above 22500 it will test 22850 as per ABCD pattern. 1st minor intraday resistance will be 22675 and 22850 being a strong one. Best trade will be on flat opening and sustaining above 22500. 22350 is a deciding zone , break of which will lead to an intraday fall. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 22500 then we will long for the target of 22675 and 22850. For selling we need a 15 Min candle close below 22350. T- 22170 and 21980. 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 07 MAR 24As we discussed, NIFTY's sideways behavior touched the fib 0.38 level and came back to trading again at the resistance. If we look at the chart now: The market is trading at the resistance right now. This might force it to consolidate for tomorrow as its expiry for nifty on 7th Mar. market might expire in the marked region. If we look at the OI data: PCR = 1.0 indicates market bullish sentiments. 22500 has huge CE writing, which will provide huge resistance. On the lower side, each level 22400, 22300, and 22200 also has multiple support points. I am expecting a sideways market tomorrow because of trading at resistance and expiry day. Reasons: Price > EMA indicates the bullish nature of the market. but price >> ema(200) shows market need some reversion. RSI > 60 indicates bulls are having strength right now. PCR = 1.34 shows bullishness; also, OI data shows multiple-level support in the option chain. Nifty is trading at a resistance trendline and might get resistance. But as it has been touched multiple times, there is also a probability that it might get broken this time. Verdict: Sideways or Bullish Plan of action: Case 1: Sideways -> IRON CONDOR in range 22450 - 22550. Case 2: Bullish -> Sell 22450 PE (Hedge it with 20rs PE)
NSE:NIFTY
by finnova_
5
05 Mar ’24 — Nifty breaks a support, BN breaks a resistanceNifty Analysis - Stance Bullish ⬆️ Recap from yesterday: “Our stance continues to be bullish and the first support level would be 22295. It is a shallow support and not quite relevant for a stance change, but the momentum is what really matters.” 4mts chart For a brief period, Nifty traded below the support level of 22295. Even on the lower timeframe we did not have a close below that level due to which a stance change is not required. Nifty managed to pull up and close above 22358 which is not a bad thing at all, but what was worrying is how NiftyIT traded today. Even from the start, the weakness in the IT sector was evident. NiftyIT ended the day -1.59% ~ 594 points. The major reason Nifty fell today was attributed to this weakness. There is something the IT sector knows that we don't. Look at how SPX (-0.89%), NDQ (-1.78%) are trading, a selected few people knew this in advance and started selling the tech sectors. On the higher timeframe, the 3 red candles till the support level stands out. Even though the buying came today, it may not prove useful if we gap-down tomorrow. It all depends on how the US market closes today. Primarily, I need to spend some time to understand why the tech sectors are cooling off. News aside, the charts still shows no change in bullish stance, however if we open gap down tomorrow and that too below the 22295 levels we will immediately change stance to neutral. And if it breaks 22199, we would love to go short. 63mts chart
NSE:NIFTYLong
by viswaram
NIFTY Intraday Trade Setup For 5 Mar 2024NIFTY Intraday Trade Setup For 5 Mar 2024 Bullish-Above 22450 Invalid-Below 22400 T- 22655 22840 Bearish-Below 22350 Invalid-Above 22400 T- 22190 21980 NIFTY has closed almost on a flat note today with minor gain of 0.12% today. Nothing triggered as per trade setup and was a complete sideways day within less than 90 points range for the whole day. It has formed a indecision candle, spinning top in daily TF. We will simply trade above and below this tight range. 22450 and 22350 is the range to be looked for breakout. 22190 will be an intraday support zone as per half bat pattern. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 22450 then we will long for the target of 22655 and 22840. For selling we need a 15 Min candle close below 22350. T- 22190 and 21980. 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 5th MarAs we discussed yesterday, NIFTY has been taking resistance at the resistance trendline and resulted sideways. If we look at the chart now: The market is trading at the Resistance trendline. The market has been in a range bound in (22350-22470). Also price >> EMA(200) (TF = 30 min) and EMA(13) >> EMA(200). This indicates that the market needs some correction or consolidation at this point. If we look at the OI data: PCR = 1.26 indicates the bullish nature of the market. There has been huge activity at 22400. NIFTY has equally distributed PE and CE writing on both sides. But at lower levels, the market has huge support at 22200 and 22000. I am expecting 2 cases in the market, which have been marked in the chart. Case 1: Support is at 22370, and resistance is at trendline. Case 2: retracement till fib 0.38 level. (22220) Reasons: Price > EMAs show bullish sentiments. (Bullish) Price >> EMA(200) and EMA(13) >> EMA(200) market might get some correction till 22200. RSI ~ 63 (falling) shows weakness in bulls. PCR = 1.25 shows bullish signal whereas combined week expiry shows PCR = 0.90 weekness in bulls for upcoming week. (sideways) Price <= VWAP shows that the market price is balanced and can go either side. (Indecisive) Verdict: Sideways or Bullish Plan of action: Case 1: Iron condor in range 22300-22450. Case 2 : Sell 22450 CE (Hedge is with 20 rs CE)
NSE:NIFTY
by finnova_
NIFTY Intraday Trade Setup For 4 Mar 2024NIFTY Intraday Trade Setup For 4 Mar 2024 Bullish-Above 22470 Invalid-Below 22420 T- 22655 22840 Buy_2- From 22200 Invalid-Below 22150 T- 22500 NIFTY has closed on a slight bullish note with 0.75% gain last week. Friday's candle seems to be a strong bullish candle which has taken out last 7 day's range. We are likely to a parabolic up move or 90 degree angle move above 22470 in the coming days. But before that chances are that we can give a pull back towards 22200 again before the start of of the bullish impulse. So it can be an opportunity to long from 22200 zone for a good target in favor. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 22470 then we will long for the target of 22655 and 22840. 2nd buy can be considered from 22200 zone. T- 22500. 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