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NIFTY Intraday Trade Setup For 19 Jan 2024NIFTY Intraday Trade Setup For 19 Jan 2024 Bullish-Above 21540 Invalid-Below 21490 T- 21787 21979 Bearish-Below 21280 Invalid-Above 21330 T- 21095 20915 NIFTY has closed on a bearish note with 0.51% cut. It was another gap down day due to global negative cues and majorly HDFCBANK. 10 o'clock range was to be used as per trade setup. Range broke upside 21407 and gave a move till 21539. There was a sharp recovery from 21285 and it held itself at higher levels the rest day. It has formed a spinning top candle which tells indecisiveness, it can also act as reversal above its high , complete or partial that is another thing. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 21540 then we will long for the target of 21787 and 21979. For selling we need a 15 Min candle close below 21280. T- 21095 and 20915. 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
Banknifty: Bearish Trends and Cautionary SignalsBig Red Candle: Today's trading session witnessed a significant bearish movement, evident in the formation of a substantial red candle on the daily chart. EMA Confirmation: Adding to the bearish outlook, Banknifty closed below the 20 EMA, reinforcing the negative sentiment among traders. Short-Term Downtrend Signals: Lower Low and Lower High Lower Low Formation : Banknifty has created a lower low in the short term, coupled with a lower high, indicating a clear sign of a short-term downtrend. Cautious Optimism: Despite the bearish signals, we cautiously identify the 46900 zone as a potential bullish trend support, offering a glimmer of hope in the current market scenario. Exercise Caution and Watch Key Levels: High Probability of Downside: Acknowledging the strong likelihood of a downside movement, traders are advised to exercise caution and closely monitor market developments. Critical Level Alert: Today's low holds significant importance; a breach below this level may indicate unfavorable market conditions and should be considered a crucial signal for market participants.
NSE:BANKNIFTYShort
by iamrk7
2
NIFTY Intraday Trade Setup For 18 Jan 2024NIFTY Intraday Trade Setup For 18 Jan 2024 Sell_1- From 21855 Invalid- Above 21905 T- 21705 21600 Sell_2- Below 21550 Invalid- Above 21600 T- 21390 21215 NIFTY has closed on a complete bearish note with 2% cut today. It opened with a big gap down which was triggered by HDFCBANK. It was on the biggest gap down in the recent months and a single component had the contribution. Yesterday we discussed that it formed a spinning top candle and below its low there can be a chance of reversal. Now tomorrow there can be a chance of pullback if today's low is safe. In this case 21855 will act as an intraday resistance. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes below 21550 then we will short for the target of 21390 and 21215. 2nd short can be considered from 21855. T- 21705 and 21600. 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 18 Jan 24As we discussed NIFTY yesterday, "Sideways in the channel if they break to the downside, will turn BEARISH." It opened the downside and gave a very nice bearish moment. For tomorrow, if we look at the chart and OI data, it's a very bearish situation. if we look into OI data PCR = 0.55(weekly) and 0.80(for next week included.) that means monthly is still neutral. If we look at the chart, 21500 is a very good support ZONE, which has been providing support multiple times. This time, it might also take support from there. But on the above side, EMA(200) will be providing resistance at (21650). I am expecting it to take a retracement, and then it will fall again. There are two main possibilities right now. that have been marked on the chart. On the other hand, it has broken the pattern to the downside. If, after retracement, there is volume pressure to sell, it will fall to the next levels of 21250 and 21000. but for now, the main hurdle is 21500. I am expecting the market to take minor support at 21500, and if after that it starts falling and breaks 21500 to the downside, a good fall in the market can be expected. Reasons: Price < EMAs, which indicates the bearishness in the market. RSI < 40, oversold zone shows bulls are weak at this point. So some retracement and then again fall is expected. Price < VWAP that shows bearishness in the market. RSI is showing bullish divergence (marked as Blue), which means 21500 is highly likely to provide minor support. Once the RSI is adjusted, it might fall again. but for now, the RSI needs to be adjusted. OI data shows PCR = 0.55 which is huge bearish. Verdict: Bearish (21500 minor support); if breaks to the downside after retrace. Plan of action: Wait for 15 min candle. Make position how it behaves at 21500 PA.
NSE:NIFTYShort
by finnova_
17
NIFTY Intraday Trade Setup For 17 Jan 2024NIFTY Intraday Trade Setup For 17 Jan 2024 Bullish-Above 22130 Invalid-Below 22080 T- 22275 22460 Bearish-Below 21960 Invalid-Above 22010 T- 21840 21700 NIFTY has closed on a slight bearish note 0.29% cut today. It has formed a spinning top candle which indicates indecisiveness. It can result into a reversal too if it breaks today's low- 21960 and in case the immediate next daily candle closes in red then possibility of a reversal is high, small or big we do not know. Index is in the last leg of rally BTW and a top can be formed in 22500 zone (+/-100). Tomorrow 22130 and 21960 are important levels. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 22130 then we will long for the target of 22275 and 22460. For selling we need a 15 Min candle close below 21960. T- 21840 and 21700. 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 17 JAN 24As we discussed NIFTY yesterday, it will be going 22100, and then it will settle there. The market did reach the level, and then, because of resistance there, it reversed back. Again, took support is at a day's low. If we see selling candles had a higher volume than buying candles. That shows the market will be turning bearish soon. We have marked a zone of today's highs and lows. If the market breaks the zone to the downside, then selling can be seen in the market. The best points to make an entry will be either entering at high (22100 rejection) or entering at the breakdown (today's low). According to the OI data, PCR 0.8 dropped from 1.51(yesterday). Shows sellers are becoming aggressive at higher points(~22100). Also, in today's 2nd half, there is no new PE writing. Only CE selling happens at higher levels (22000 and 22050). Also, there was a huge PE unwinding at higher levels (22100). Also, it has faced rejection from the resistance trendline. I am expecting a bearish market in tomorrow's session. Reasons: Price got a rejection from the resistance trendline. It should continue its momentum to go downwards as marked on the chart. (sideways or Bearish) Price > EMA(200) and VWAP require some consolidation or correction at this point (also discussed yesterday). (sideways or Bearish) OI data shows a huge decrease in PCR from 1.51 -> 0.80, which shows huge bearishness in the market—an indication of a reversal. RSI has also dropped to the 40-60 range, which is sideways, but if it falls below 40, it will turn into a bearish market. Verdict: Sideways in the channel, if they break to the downside, will turn BEARISH Plan of Action: Keep neutral position IRON CONDOR inside range AND Go bearish with sell 22000 CE Sell (with Hedge protection)
NSE:NIFTYShort
by finnova_
2
NIFTY Intraday Trade Setup For 16 Jan 2024NIFTY Intraday Trade Setup For 16 Jan 2024 Bullish-Above 22120 Invalid- Below 22070 T- 22275 22460 Bearish-Below 22010 Above- 22060 T- 21875 21715 NIFTY has closed on a bullish note with almost 1% gain today. It opened with a decent gap up today and as per trade setup 10 o'clock range was to be used. Range broke upside above 22082 and gave a small move till 22115. In the weekend analysis it was said that index is ready to break 22k in flow which will be backed by It results and reliance. Tomorrow once again bullishness may continue above today's high. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 22120 then we will long for the target of 22275 and 22460. For selling we need a 15 Min candle close below 22010. T- 21875 and 21715. 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
15 Jan ’24 — Bullish reinforcements are on the way! Nifty50Nifty Analysis - Stance Bullish ⬆️ Recap from yesterday: “Till yesterday, we were looking for neutral trades with a possibility of going down. See how the tables have turned today. For Monday — we need to look out for bullish opportunities now.” 4mts chart Another gap-up of 131pts ~ 0.6% today! It was required to break the channel resistance line. There was a minor fall, but the 22000 level provided early support and we kept the gap unclosed. Once Nifty50 found its balance, it rallied steadily for the day and closed near the highs. The new ATH is 22111. 63mts chart The break away from the channel is evident in the 63mts chart. See the points Nifty is climbing every time it gets a stance upgrade from neutral to bullish. Remember how things were looking weak on the 8th and 10th of Jan and how Nifty turned from there? For tomorrow, the bullish stance continues and the first support will be the ascending channel top-line ~ 22050 levels.
NSE:NIFTYLong
by viswaram
NIFTY Prediction for tomorrow 16th JAN 24As we discussed yesterday, "it will reach 22100, and then it will face resistance there". If we look at the chart data right now, It has touched 22100. also, right now, it's trading at the resistance trendline, which will provide resistance from here. According to OI data, PCR = 1.51, which is super bullish. On the upside, there is no resistance. All levels have very low CE Writing. OI data shows it's very bullish right now. 22000 has HUGE PE writing, which will be providing very nice support. The market is trading at the upper region of the channel. There are high chances of settling the market here. I expect the market to go sideways. There is not much target left according to the price action. Reasons: Price> EMAs show bullishness in the market. But EMA(13) >> EMA(200), which indicates the market is stretched. RSI = 80, which shows the market is overbought. Also, the RSI is showing a bearish divergence. That might lead to some correction in the market. Price (22100) > > VWAP (21700) shows Price is not balanced with volume data. It might lead to correction for some points. The Market is continuously making HH and HL. Shows very good strength of the trend. But it requires some consolidation here. According to Extended Fib, retracement shows a 1.414 level as 22138, which is exactly at the resistance trendline. According to OI data, there is too much PE writing today. There is very minimal CE writing at the upper level, 22100 is showing MAX PAIN. Also FII and PRO shows bullishness in index option data. Verdict: Bullish might have some consolation at the resistance trendline. Plan of Action: Wait 15 min candle; make position according to levels marked at chart.
NSE:NIFTY
by finnova_
2
Nifty 50 Support and Resistance Levels (16/01/2024)Nifty 50 Support and Resistance Levels (16/01/2024): #### Support Levels: 1. **Support Level 1:** 22,000 2. **Support Level 2:** 21,900 3. **Support Level 3:** 21,800 - If the market trades below 22,000, it could signal potential downside movement. #### Upside Resistance Levels: 1. **Resistance Level 1:** 22,100 - If the market trades above 22,100, it could potentially move towards all-time highs. ### Technical Analysis Insights: - **Support Zones:** 22,000, 21,900, and 21,800 are crucial areas where buying interest might emerge, potentially leading to a reversal or temporary halt in the downward movement. - **Resistance Zone:** 22,100 is anticipated to be a key level where selling pressure might intensify, limiting immediate upward movements. - **Breakdown Caution:** Trading below 22,000 might signify increased bearish sentiment and could lead to further downside movement. - **Upside Breakout Confirmation:** A sustained breakout above 22,100 might indicate a potential move towards all-time highs, but confirmation is essential.
NSE:NIFTYLong
by santubittu
NIFTY Intraday Trade Setup For 15 Jan 2024NIFTY Intraday Trade Setup For 15 Jan 2024 Bullish-Above 21930 Invalid-Below 21880 T- 22070 22195 Bearish-Below 21800 Invalid-Below 21850 T- 21642 21508 NIFTY has closed on a slight positive note with 0.85% gain last week. Index looks ready to break 22k mark with 3rd quarter results. Index will face a major resistance near 22500 as per ABCD PRZ (2.618) in weekly TF. No Point in looking for short (swing) till 22500. On Friday index broke 10 days contraction pattern (parallel channel) which held index in a tight range. Also we need to observe the daily price action for riding the trend till the fullest, till the time index is in bullish price structure. 21930 and 21800 are important levels for Monday's session. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 21930 then we will long for the target of 22070 and 22195. For selling we need a 15 Min candle close below 21800. T- 21642 and 21508. 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 15 JAN 24As we discussed, NIFTY would be "Sideways unless it breaks the range to either side." on Friday, it broke to the upside and gave a really nice bullish rally. People who Bought CE or sold PE might have made good money. For tomorrow all important levels have been marked on the chart. If we look right now, it's trading ALL-TIME-HIGH, which might lead to a 22,000 target. If we see the charts, we are on the way to touching the resistance trendline. Once it reaches there, it will face resistance. GIFTNIFTY is already showing 21975 closing in the last session. The upper range to go nifty is 22100. So, I expect it to go up and then from 22100 settle down. If we see OI data PCR = 1.40 which shows highly bullish indications for upcoming sessions. 22000 is having significantly good resistance level lets see how the price action behave there. MAX Pain for now is 22000. Tomorrow it might open gap-up and then reach 22100 and then correct for some points that might lead to a sideways market too. Reasons: Price > EMA(13,50,200) which shows price have strength. The bulls are in control. (Bullish) EMA(13,50) crossover shows bullishness in the Market. RSI is above 60, which means it's in the Bullish zone. RSI is showing good strength in trend. OI data PCR = 1.40, which is highly bullish. It's a very good sign of bullishness. VWAP > > Price shows that the price is not volume balanced. It's obviously bullish. But if it goes further, you have to correct some points to get balanced. The Market is continuously making HH and HL. Shows very good strength of the trend. Verdict: Bullish Plan of action: Wait for 15 min Candle; and then make position based on price action levels marked on chart.
NSE:NIFTYLong
by finnova_
2
NIFTY Intraday Trade Setup For 12 Jan 2024NIFTY Intraday Trade Setup For 12 Jan 2024 Bullish-Above 21730 Invalid-Below 21680 T- 21860 22015 Bearish-Below 21590 Invalid-Above 21640 T- 21450 21300 NIFTY has closed on almost on a flat note with minor gain of 0.13% today. It opened with a gap up near hourly upper trendline of the parallel channel. Trendline was respected and fall of almost 90 points came. Closing basis it was just another consolidation day. Till the time index is trading in this hourly parallel channel intraday will be choppy. Directional traders need to wait for its breakout, high probable in the upside. Tomorrow 21730 and 21590 are important levels. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 21730 then we will long for the target of 21860 and 22015. For selling we need a 15 Min candle close below 21590. T- 21450 and 21300. 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
NIFTY prediction for tomorrow 12 JAN 24As we discussed, Nifty has been moving in a sideways range-bound market in the range of 21500 and 21750. also, today, it took very nice support from 200 EMA and activated buyers. But once it's moving in the range, it could not be better for option buyers. Right now, the only you can do is option selling with IRON CONDOR. If we look at OI, we can see PCR = 0.7, which is leaned to the bear side. The market has shown a bearish structure this whole week. There are higher chances to break it to the downside. If it breaks to the downside, I am expecting it to fall nicely; otherwise, I will be playing range-bound for Selling options. Also, the market has formed an insider candle on the day's time frame. Unless this insider candle is cleared, I am expecting it to be range-bound between 21500 and 21750. Reasons: Price > EMAs shows the market still has a good bull control. (Bearish) RSI ~ 50 increasing means bulls are trying to get the market to go up. But still RSI = 40-60 means still sideways. Once it breaks to RSI(60) upside, We can expect a nice bull move. (Bearish) If we see OI 21650 and 21700 have a huge resistance wall, it means huge CE writing at those levels. (Bearish) 21600 is MAX PAIN. If it breaks to the downside, a good fall can be seen in nifty till the level of 21120. (Bearish) Verdict: Sideways unless breaks the range to either side. Plan of action : Right now, you can go for IRON CONDOR. for range 21500-21750. OR Sell 21750 CE and sell 21500 PE (Hedge with 15rs PE and CE)
NSE:NIFTY
by finnova_