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NIFTY Intraday Trade Setup For 01 Feb 2024NIFTY Intraday Trade Setup For 01 Feb 2024 Bullish-Above 21820 Invalid-Below 21770 T- 22177 22533 Bearish-Below 21440 Invalid-Above 21490 T- 21120 20769 NIFTY has closed on a bullish note with nearly 1% gain today. As per trade setup nothing triggered as per trade setup. But one important thing was discussed yesterday that 21470 will be an important support as per half bat pattern (50% retracement). It gave a harp bounce from 21470 till 21740. Tomorrow is Interim Budget an important event so there can be big moves either side based on announcements. I will personally not trade tomorrow. Be very low position sized or avoid trading tomorrow. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 21820 then we will long for the target of 22177 and 22533. For selling we need a 15 Min candle close below 21440. T- 21120 and 20769. 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 Special Budget prediction for tomorrow 1 FEB 24As Nifty has been trading in the range 21500-21750. Now, tomorrow is a BIG BUDGET 24 to be announced. If we look at the charts: The market is trading on the resistance level while completing the inverted HNS pattern, which increases the probability of the market going bullish. But unless the market breaks to the upside, don't go for option buying. The market has taken Support at 200 EMA + price action level. If we look at the OI data: PCR = 0.70 shows the neutral behavior of the market, which is okay as the budget is going to be pro-government to focus on the election-winning side. few sectors are going to be beneficial, and few are going to impact negatively. 21700 is MAXPAIN . Both sides are equally tense. Let the market decide what's going to be. PROs and FIIs have shorted the market with heavy quantities, which might force it to open downside. I am expecting the market to touch 22100 again. Reasons Price > EMAs, which shows bullishness. RSI is at the surge to break to upside(60) which is bullish indication. The market is trading its resistance zone, its make-and-break situation. Only go in if the breakout is confirmed. As it's budget day and elections are nearby, the budget has to be good to turn election sentiments to this government side, which might impact some sectors negatively and also some in a positive way. The market can go really wild. So, Play carefully and protect your capital. PRO and FII have been showing negative signals as they have been shorted the market heavily, which might force the market to open downside. And then go bullish. Verdict: Neutral, highly volatile. Plan of action: Wait for 15 min candle. Let the trend be confirmed, then make a position. Protect your profits. The market can turn anytime and will be driven by budget sentiments. Happy trading Keep your capital safe...
NSE:NIFTY
by finnova_
2
NIFTY Intraday Trade Setup For 31 Jan 2024NIFTY Intraday Trade Setup For 31 Jan 2024 Bullish-Above 21820 Invalid-Below 21770 T- 22058 Bearish-Below 21470 Invalid-Above 21520 T- 21300 21120 NIFTY has closed on a bearish note today with 1% cut today. It opened almost flat and faced resistance at our buy level and corrected till 21475. One anticipation was shared about a pullback through half bat pattern was plotted which somehow pulled it. Since we are close to a big event so intraday moves can be random and big so avoid trading this week or just reduce your position size. If it opens a bit flat then 21475 may act as a good support as per 50% healthy retracement. Incase it breaks then we will head towards 21120 eventually which is a strong hourly support. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 21820 then we will long for the target of 22058. For selling we need a 15 Min candle close below 21470. T- 21300 and 21120. 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 30 Jan 2024NIFTY Intraday Trade Setup For 30 Jan 2024 Bullish-Above 21770 Invalid-Above 21720 T- 21910 22058 Bearish-Below 21550 Invalid-Above 21600 T- 21335 NIFTY has closed on a bold bullish note with 1.8% gain today. It was backed mainly by Reliance which closed at ATH. It opened slight gap up and buy triggered as per trade setup. 10 o'clock range broke upside above 21590, last swing low/risk was 21550. It gave a non stop move till 21760. Tomorrow if at all there is a gap up then possibility of a overall range bound market will be high. In case it opens flat and tests 21550 then it can find support here. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 21770 then we will long for the target of 21910 and 22058. For selling we need a 15 Min candle close below 21550. T- 21335. 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
NIFTY50 BEAR TREND STARTEDGreetings everyone, I am of the opinion that either the NIFTY50 or the entire market is entering a bearish trend. Starting from today or possibly in the upcoming week, it seems likely that the market will commence a downward trajectory. This projection is based on two potential factors: Observation of a Head and Shoulders pattern. The breach of an important support level. Key Levels: Entry Range: 19200-19250 Stop Loss: 19600 Target 1: 18900 Target 2: 18600 (There is a considerable chance of attaining this target.) Target 3: 18200 Strategies to Consider: For those involved in options trading: Consider a small hedging strategy. For those engaged in futures trading: Implement a strict stop-loss strategy. Important Note: Make risk decisions in line with your available capital. It is strongly advised to refrain from trading with borrowed funds or your entire savings, drawing from personal experiences.
NSE:NIFTYShort
by NaveenTTR
6
NIFTY prediction for tomorrow 30 JAN 24As we discussed Nifty yesterday, "Sideways in range bullish after a breakout." nifty gave a breakout in the morning and gave a bull momentum. Chart data: The Market has been range-bound in 21500-21750 for quite some time. It has struck the upper range six times now, which makes it easier to break this time. OI data: OI data PCR = 1.10 indicates the Market is already in bulls' control. 21800 is a nice resistance zone. Once it's clear, it will also give a breakout to charts, and people will start Writing PE at this level. Also, the budget announcement is on the 01 FEB 24, which needs to sound good because the election is nearby. I am expecting the Market to break to the upside and go bullish in upcoming sessions. Reasons: Price > EMAs, which shows the Market is in control of bulls. RSI > 60, which indicates bulls have enough strength to take it higher. Price > VWAP, which indicates the Market is in a balanced phase, making it easier to go higher. OI data PCR = 1.10 shows market is bullish. The Market has been in range for quite some time. It has already touched this zone 6 times; it shows a higher chance of breaking out. Verdict: Bullish Plan of action: SELL 21750 PE (hedge it with Buy 30rs PE)
NSE:NIFTYLong
by finnova_
5
NIFTY Intraday Trade Setup For 29 Jan 2024NIFTY Intraday Trade Setup For 29 Jan 2024 Bullish-Above 21410 Invalid-Below 21360 T- 21627 21855 Bearish-Below 21240 Invalid-Above 21290 T- 20975 20769 NIFTY has closed on a slight bearish note last week with 1% cut. Since the update of NIFTY making a short term top @ 22124 on 18 Jan , it is in correction mode. Only Event is Union Budget which can terminate this correction or else it is aligned for a short term correction towards 20200 zone. However the coming week is filled with major events like Giant's result Union Budget and Fed Event. 21410 and 21240 are important levels for tomorrow's session. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 21410 then we will long for the target of 21625 and 21855. For selling we need a 15 Min candle close below 21240. T- 20975 and 20769. 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 JAN 24As we have discussed, NIFTY has been in a bearish structure for the past week. NIFTY ended sideways in the last session, as discussed in our analysis. Now, if we look at the data on the chart, 21222 is hard SUPPORT, and 21450 is RESISTANCE. Along with it, it's making a falling wedge Pattern, which is a bullish pattern. If it breaks to the upside, the only resistance will be 200 EMA. Once it's crossed, it will be going a bullish 📈 trend move. If we look at OI data 📊 PCR: 0.80 is neutral. 21300 is working as MAXPain. 21250 and 21300 have good PE writing. Which also includes a good chance to go bullish. 1 FEB 2024 is also budget announcement day. That's why people are waiting for the market to make and break. People are waiting for the budget to be announced on 1 FEB (Budget Day). I am expecting the market to be sideways. Reasons: Price < EMAs shows bearishness. RSI ~ 40-60, which shows a sideways market structure. OI data PCR shows 0.80, which is sideways, with 21300 as MAXPain and 21250 and 21300 as good support. 21200 is acting as a good support zone. 50 EMA acting as resistance. If it gets cleared, 200 EMAs will be acting as resistance. Verdict: Sideways Plan of action: SELL 21450 CE and 21200 PE (protect it with hedging)
NSE:NIFTY
by finnova_
2
25 Jan ’24 — Unusual last 30mts of price action, could be a NEWSNifty Analysis - Stance Neutral ➡️ Recap from yesterday: ”The issue for the bears from the 63mts chart is the W formation (double bottom). To prove they are still in the game, the Bears must create a big fall and ensure an M pattern supersedes the W. Due to the momentum the bulls got today, we are changing the stance from bearish to neutral. The first target would be to take out the 214991 resistance and nullify the 5 RED candles formed on 23rd. If we were to move downwards, the swing low of 21372 has to be taken out tomorrow itself.” 4mts chart The main objective of the morning session was spent undoing the bullish surge yesterday. The selling pressure got arrested by 11.00, by then we had already fallen 214pts ~ 1.00%. We then had a quick surge till 11.39 followed by a gradual coo off. The LOD remained at 21247 proving that the BEARS are still in the game. What surprised all of us is the price action in the last 30mts. It did not look like a technical action, most likely it could be a news/event that broke out to a select group of people or insiders. Hope we get some clarity on that by Monday when we reopen. 63mts chart Yesterday’s W pattern is no longer valid as today’s action has nullified it. Our stance continues to be neutral with a slight inclination to the bearish side. Seems like FIIs are not done unwinding their positions - the run-up to the Budget 2024 looks interesting.
NSE:NIFTY
by viswaram
NIFTY Intraday Trade Setup For 25 Jan 2024NIFTY Intraday Trade Setup For 25 Jan 2024 Bullish-Above 21490 Invalid-Above 21440 T- 21685 21930 Bearish-Below 21210 Invalid-Above 21260 T- 20975 20765 NIFTY has closed on a bullish note with 1% gain today. Yesterday in the trade setup we discussed in detail that there is a possibility of a up move or a pullback of the impulsive down move. Idea came into action today as expected. It opened with a minor cut and pullback was initiated. Now if there is a gap up tomorrow above 21690 then possibility of being sold into will be high tomorrow. Its still sell on rise market as of now. Volatility has increased significantly so reduce position sizing and focus only on quality trades. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 21490 then we will long for the target of 21685 and 21930. For selling we need a 15 Min candle close below 21210. T- 20975 and 20765. 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 24/01/24According to our past discussion, NIFTY had a bearish nature for a couple of days. It had a nice fall today. If we look at the chart, it has broken the HNS Neck to the downside with huge volume pressure. The market might continue to be bearish in the coming days. If we look at chart 21025, the next support point can be set as target 1 and 20791 as target 2 according to the HNS pattern breakout to the downside and also the price action level. While looking at the OI data, PCR = 0.63; also, today's OI change shows huge bearishness with Call change = 3.28Cr Put change = -21.82L, which means it was a huge PE windup with additional CE writing. The market is bearish. Reasons: Nifty is making HNS at the top of the trend, which means upcoming sessions are going to be bearish with target levels marked on the chart. (Bearish) Price < EMAs shows the market's bearish nature. (Bearish) The market has given the Death crossover, which is a strong signal of a Bearish market. (Bearish) OI data PCR = 0.63 shows bearish signal. (Bearish) RSI < 40, which shows weakness in bulls strength. (Bearish) VWAP is at 21600, which indicates prices are not volume balanced. (sideways) Verdict: Bearish Plan of action: Look for a 15-minute candle; make a position based on the PA marked on the chart.
NSE:NIFTYShort
by finnova_
6
NIFTY Intraday Trade Setup For 24 Jan 2024NIFTY Intraday Trade Setup For 24 Jan 2024 Sell_1- From 21550 Invalid-Above 21600 T- 21375 21200 Sell_2- Below 21190 Invalid-Above 21240 T- 20975 20765 NIFTY has closed on a complete bearish note with 1.54% cut today. Yesterday only we discussed that index has changed its trend to bearish and a short term top has been formed @ 22124. Market opened with a decent gap up and sell triggered below 21540 and gave a move till 21193. However 10 o'clock range broke early below 21665. Tomorrow there is a high probability of a pause candle, also there is a high chance of a pullback move to this impulsive down move. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes below 21190 then we will short for the target of 20975 and 20765. In case it tests 21550 via gap up or opening above 21200 then we will short from there. T- 21375 and 21200. 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 23 Jan 2024NIFTY Intraday Trade Setup For 23 Jan 2024 Bullish-Above 21730 Invalid-Below 21680 T- 21930 22125 Bearish-Below 21540 Invalid-Above 21590 T- 21345 21095 NIFTY has closed on a bearish note last week with 1.47% cut last week. It has engulfed last two weeks gain entirely, also an sustained exhaustion gap day was observed on 17 Jan 2024. This looks like a short term top @ 22124. No bullish trades (swings) till it is lower than 22124. We will focus more on selling opportunity. Important hourly swings are placed @ 22150 and 21280. A good momentum will pick on this range breakout. 21730 and 21540 are important levels for the next session. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 21730 then we will long for the target of 21930 and 22130. For selling we need a 15 Min candle close below 21540. T- 21345 and 21095. 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