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NIFTY Intraday Trade Setup For 9 Aug 2024NIFTY Intraday Trade Setup For 9 Aug 2024 Bullish-Above 24390 Invalid-Below 24340 T- 24650 Bearish-Below 23890 Invalid-Above 23940 T- 23515 NIFTY has closed on a bearish note with 0.74% cut. Since last 4 sessions we are stuck inside 500 points range- 24400 and 23900. We will trade directional only when we get this range breakout. It was sideways with huge volatility, mostly sl hunting moves. We will be neutral and wait patiently for breakout. However above 24450 there can trigger for short covering. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 24350 then we will long for the target of 24650. For selling we need a 15 Min candle close below 23890. T- 23515. For selling we need a 15 Min candle close below 23890. T- 23515. 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 Support & Resistance Levels for 08.08.2024On Wednesday, Nifty opened gap up and entered the 30m Supply zone mentioned in the last post but did not break above it. Nifty stayed within a 150-point range and closed at 24297.50. The weekly trend (50 SMA) is positive, and the daily trend (50 SMA) is now sideways. Support Levels: Near Demand/Support Zone (75m): 23960 - 24077 Major Demand/Support Zone (Daily): 23350 - 23667 Resistance Levels: Near Supply/Resistance Zone (30m): 24266 - 24348 (current price inside the zone) Far Supply/Resistance Zone (30m): 24686 - 24745 Far Supply/Resistance Zone (75m): 24754 - 24835 Note: As of writing this, GIFTNIFTY is trading 180 points negative, indicating we might see a gap-down opening.
NSE:NIFTY
by PriteshPalan
NIFTY Intraday Trade Setup For 8 Aug 2024NIFTY Intraday Trade Setup For 8 Aug 2024 Bullish-Above 24390 Invalid-Below 24340 T- 24650 Bearish-Below 24180 Invalid-Above 24230 T- 23900 NIFTY has closed on a positive note with 1.27% gain today. However whole gain is the same points it gaped up. It was sideways within 150 points range in intraday. Today's low is very important as the daily candle is a Pinbar and a double force move can be seen below 24180. In case it opens flat and 24390 is sustained then we will head towards 0.618 zone of the fall we witnessed in last few days. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 24390 then we will long for the target of 24650. For selling we need a 15 Min candle close below 24180. T- 23900. 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 Support & Resistance Levels for 07.08.2024On Tuesday, Nifty opened gap up, entered the 15m Supply zone mentioned in the last post, and then fell 400 points from the top before closing at 23992.50. The weekly trend (50 SMA) is positive, and the daily trend (50 SMA) is now sideways. Support Levels: Major Demand/Support Zone (Daily): 23350 - 23667 Resistance Levels: Near Supply/Resistance Zone (30m): 24266 - 24348 Far Supply/Resistance Zone (30m): 24686 - 24745 Far Supply/Resistance Zone (75m): 24754 - 24835 Note: As of writing this, GIFTNIFTY is trading 280 points positive, indicating we might see a gap-up opening, and the near 30m Supply zone may get violated.
NSE:NIFTY
by PriteshPalan
NIFTY Intraday Trade Setup For 7 Aug 2024NIFTY Intraday Trade Setup For 7 Aug 2024 Bullish- Above 24400 Invalid-Below 24350 T- 24736 Bearish-Below 23890 Invalid-Above 23940 T- 23515 NIFTY has closed once again on a bearish note with 0.26% cut today. It tested buy/resistance level and got rejected from there, decent sell of from 24380 was seen. Index has closed exactly at 50 EMA in daily TF. Below 23890 index will be fully gripped by bears. And overall sell on rise approach to be maintained. Major weekly level to be approached can be 22800. But for this we need more validation of a bearish price structure in daily TF. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 24400 then we will long for the target of 24736. For selling we need a 15 Min candle close below 23890. T- 23515. 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 6 Aug 2024NIFTY Intraday Trade Setup For 6 Aug 2024 Bullish-Above 24350 Invalid-Below 24300 T- 24700+ Bearish-Below 23890 Invalid-Above 23940 T- 23515 NIFTY has closed on a bold bearish note with 2.68% cut. We discussed in the weekend after 25K was tested that index has formed a short term top. It opened directly with a very big gap down and 10 o'clock range was to be used as per trade setup. Range broke downside below 24190 and gave a good move till 23895, 300 points gain with 100 points risk. Tomorrow below 23890 we will sell again and overall view will be sell on rise. 23500 zone will be a strong support. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 24350 then we will long for the target of 24350. For selling we need a 15 Min candle close below 23890. T- 23515. 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 Support & Resistance Levels for 05.08.2024On Friday, Nifty opened gap down, took support at the 15m demand zone mentioned in the previous post, and bounced up more than 100 points before closing at 24717.70 (293 points negative). The weekly trend (50 SMA) is overbought, and the daily trend (50 SMA) is positive. Support Levels: Near Demand/Support Zone (30m): 24624 - 24657 Major Demand/Support Zone (125m): 24296 - 24426 Resistance Levels: Near Supply/Resistance Zone (125m): 24956 - 25031
NSE:NIFTY
by PriteshPalan
NIFTY Intraday Trade Setup For 5 Aug 2024NIFTY Intraday Trade Setup For 5 Aug 2024 Bullish-Above 24860 Invalid-Below 26810 T- 25045 Bearish-Below 24680 Invalid-Above 24730 T- 24457 NIFTY has closed on a slight bearish note with 0.47% cut last week. It tested psychological level of 25K and this is a huge non-stop run since couple of months. Now 25500 to 25k is going to be a supply zone. 25500 is a PRZ level level as per ABCD pattern in monthly TF. However on Friday it opened with a gap down and sustained that which indicates that we have made a short term top here and bearishness likely to continue for some days or weeks. Overall view will be sell on rise. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 24860 then we will long for the target of 25045. For selling we need a 15 Min candle close below 24680. T- 24457. 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 Intraday Support & Resistance Levels for 01.08.2024On Wednesday, Nifty made its third failed attempt to cross the 25000 mark but closed higher at 24951.15. The weekly trend (50 SMA) remains overbought, and the daily trend (50 SMA) is positive. The support and resistance levels remain the same as mentioned in the last post: Support Levels: Near Demand/Support Zone (15m): 24711 - 24734 Near Demand/Support Zone (30m): 24624 - 24657 Major Demand/Support Zone (125m): 24296 - 24426 Resistance Levels: Near Supply/Resistance Zone (15m): 24974 - 25000 (tested yesterday)
NSE:NIFTY
by PriteshPalan