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Nifty50

Nifty 50 Technical Analysis - 10th April 2024 Santu Saha Nifty 50 Technical Analysis - 10th April 2024 ## Market Overview Nifty 50 is exhibiting a range-bound behavior with well-defined support and resistance levels, providing potential trading opportunities for traders. Monitoring key levels is essential for identifying potential breakout or reversal patterns. ### Support Levels **1. Support Levels:** - **22,600:** Identified as the primary support level. If the market opens above this level, it could act as a support zone, indicating potential bullish sentiment. - **22,500:** Designated as a secondary support level. A break below 22,600 could signal further downside movement towards this level. ### Resistance Levels **1. Resistance Levels:** - **22,700:** Identified as the primary resistance level. If the market opens between 22,600 to 22,650, traders should watch for potential resistance near this level. - **22,600:** If the market opens below this level, it could act as an immediate resistance level. If market opens gapdown below 22,600, then this level also act as a resistance zone. ### Technical Insights #### Support Analysis The 22,600 support level is critical for maintaining bullish momentum in Nifty 50. Traders should closely monitor this level for signs of potential reversal or continuation patterns. A break below 22,600 could lead to increased selling pressure and a potential downtrend towards the 22,500 support level. #### Resistance Analysis The 22,700 resistance level presents a barrier for further upside movement in Nifty 50. Traders should watch for potential selling pressure near this level if the market opens between 22,600 to 22,650. If market opens gapdown below 22,600, then 22,600 itself could act as a resistance level. ### Trading Recommendation Given the identified support and resistance levels, traders are advised to exercise caution and wait for clear confirmation before initiating new positions. Long positions could be considered above 22,700 with confirmation of sustained buying pressure, while short-term selling opportunities may arise below 22,600. ### Disclaimer: Risk Management Trading involves inherent risks, and traders should implement proper risk management techniques to protect their capital and minimize potential losses.
NSE:NIFTYLong
by santubittu
INFY | Swing Trade📊 DETAILS Sector: IT Services & Consulting Mkt Cap: 624,227 cr Infosys Ltd provides consulting, technology, outsourcing and next-generation digital services to enable clients to execute strategies for their digital transformation. It is the 2nd largest Information Technology company in India behind TCS. TTM PE : 25.10 (Low PE) Sector PE : 34.35 Beta : 1.37 📚 INSIGHTS Mid-range performer Stock with medium financial performance with average price momentum and valuation. These stocks may be affordable and are showing some investors interest. 7.12% away from 52 week high Underperformer - Infosys up by 2.15% v/s NIFTY 50 up by 4.49% in last 1 month 📈 FINANCIALS Piotroski Score of 6/9 indicates Average Financials Disclaimer: This analysis is for educational purposes only, and I'm not a SEBI registered analyst. If you found this analysis helpful, I encourage you to like and share it. Your observations and comments are also welcomed below. Your support, likes, follows, and comments motivate me to consistently share valuable insights with you. 🔍 More Analysis & Trade Setups 🔍 For more technical analysis and trade setups, make sure to follow me on TradingView: www.tradingview.com
NSE:INFYLong
by Munish_Jain
BLUESTARCO | Positional Trade📊 DETAILS Sector: Air Conditioners Mkt Cap: 22,900 cr Blue star manufacturers air purifiers, air coolers, water purifiers, cold storage and speciality products. The Company offers turnkey solutions in MEP (Mechanical, Electrical, Plumbing, and Fire-fighting) Projects. It is the largest after-sales service provider for air conditioning and commercial refrigeration products in the country. TTM PE : 47.74 (Average PE) Sector PE : 63.25 Beta : 0.34 📚 INSIGHTS Strong Performer Stock with consistent financial performance, quality management, and strong technical momentum indicating good investor enthusiasm. Currently valued at Good to expensive valuation 0.79% away from 52 week high Outperformer - Blue Star up by 17.23% v/s NIFTY 50 down by -1.44% in last 1 month 📈 FINANCIALS Piotroski Score of 6/9 indicates Average Financials Disclaimer: This analysis is for educational purposes only, and I'm not a SEBI registered analyst. If you found this analysis helpful, I encourage you to like and share it. Your observations and comments are also welcomed below. Your support, likes, follows, and comments motivate me to consistently share valuable insights with you. 🔍 More Analysis & Trade Setups 🔍 For more technical analysis and trade setups, make sure to follow me on TradingView: www.tradingview.com
NSE:BLUESTARCOLong
by Munish_Jain
THERMAX | Swing Trade📊 DETAILS Sector: Engineering - Industrial Equipments Mkt Cap: 39,919 cr Thermax Limited offers solutions to energy, environment and chemical sectors. The Company’s portfolio includes boilers and heaters, absorption chillers/ heat pumps, power plants, solar equipment, air pollution control equipment/system, water and waste recycle plant, ion exchange resins and performance chemicals and related services. TTM PE : 80.03 (High PE) Sector PE : 54.13 Beta : 0.44 📚 INSIGHTS Strong Performer Stock with consistent financial performance, quality management, and strong technical momentum indicating good investor enthusiasm. Currently valued at Good to expensive valuation 4.51% away from 52 week high Outperformer - Thermax up by 5.3% v/s NIFTY 50 up by 1.1% in last 1 month 📈 FINANCIALS Piotroski Score of 8/9 indicates Strong Financials Disclaimer: This analysis is for educational purposes only, and I'm not a SEBI registered analyst. If you found this analysis helpful, I encourage you to like and share it. Your observations and comments are also welcomed below. Your support, likes, follows, and comments motivate me to consistently share valuable insights with you. 🔍 More Analysis & Trade Setups 🔍 For more technical analysis and trade setups, make sure to follow me on TradingView: www.tradingview.com
NSE:THERMAXLong
by Munish_Jain
JSWENERGY | Positional Trade📊 DETAILS Sector: Power Generation/Distribution Mkt Cap: 82,225 cr JSW Energy Ltd and its subsidiaries are primarily engaged in the business of generation of power from its power assets located at Karnataka, Maharashtra, Nandyal and Salboni. It is the holding company for the JSW group's power business. The company also has a JV company engaged in mining activities and an associate engaged in manufacturing of turbines. TTM PE : 50.05 (Average PE) Sector PE : 24.89 Beta : 1.01 📚 INSIGHTS Mid range performer Stock with medium financial performance with average price momentum and valuation. These stocks may be affordable and are showing some investors interest. 4.20% away from 52 week high Underperformer - JSW Energy down by -0.29% v/s NIFTY 50 up by 2.5% in last 1 month 📈 FINANCIALS Piotroski Score of 6/9 indicates Average Financials Disclaimer: This analysis is for educational purposes only, and I'm not a SEBI registered analyst. If you found this analysis helpful, I encourage you to like and share it. Your observations and comments are also welcomed below. Your support, likes, follows, and comments motivate me to consistently share valuable insights with you. 🔍 More Analysis & Trade Setups 🔍 For more technical analysis and trade setups, make sure to follow me on TradingView: www.tradingview.com
NSE:JSWENERGYLong
by Munish_Jain
NIFTY Intraday Trade Setup For 9 Apr 2024NIFTY Intraday Trade Setup For 9 Apr 2024 Bullish-Above 22710 Invalid- Below 22660 T- 22865 Bearish-Below 22600 Invalid-Above 22650 T- 22420 NIFTY has closed on a bullish note with 0.68% gain today. Index has picked the trend above our planned bullish level- 22620 discussed in the weekend analysis. Buy triggered above 22620 and gave a small move till 22697. Intraday momentum has really dropped and this is a historical reason as momentum dies in bull market, FUT and option selling suited market. Tomorrow 22710 will be an important resistance, a shooting star in 5 Min TF will be good to short. Below 22600 we will short. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 22710 then we will long for the target of 22865. For selling we need a 15 Min candle close below 22600. T- 22420. 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
FinNifty weekly expiry analysis for 09/04/24.Today the index has tried to clear the high and created a new ATH but couldn't sustain above the levels forming a doji on the dialy charts. Now the market is in a volatile to bullish stage and there are possibilities of it creating new highs after gap up openings. It remained in a 100-120 points range on the day before the weekly expiry and previous expiries has also remained silent. If there is a gap up opening, there will not be much movement in the index and another silent expiry can be seen. Bullish trades can be created for swing trade after the formation of a price action on the charts.] In case of a gap down opening, important levels can be retested and a bullish pattern formation near the levels can be trade with strict SL and targets. Major support levels :- 21570, 21480 Flat opening and a break out in the second half can be traded as market can be seen trending after much of sideways movement. Wait for the price action near the levels before entering the market.
NSE:CNXFINANCE
by TheMamboMomentum
BAJAJFINSV | Swing Trade📊 DETAILS Sector: Finance - Investment Mkt Cap: 267,266 cr Bajaj Finserv Ltd. is the holding company for the various financial services businesses under the Bajaj group. It serves millions of customers by providing solutions for asset acquisition through financing, asset protection through general insurance, family and income protection in the form of life and health insurance, and retirement and savings solutions. TTM PE : 34.27 (Low PE) Sector PE : 40.04 Beta : 0.85 📚 INSIGHTS Mid-range performer Stock with medium financial performance with average price momentum and valuation. These stocks may be affordable and are showing some investors interest. 5.58% away from 52 week high Outperformer - Bajaj Finserv up by 8.22% v/s NIFTY 50 up by 0.7% in last 1 month 📈 FINANCIALS Piotroski Score of 5/9 indicates Average Financials Disclaimer: This analysis is for educational purposes only, and I'm not a SEBI registered analyst. If you found this analysis helpful, I encourage you to like and share it. Your observations and comments are also welcomed below. Your support, likes, follows, and comments motivate me to consistently share valuable insights with you. 🔍 More Analysis & Trade Setups 🔍 For more technical analysis and trade setups, make sure to follow me on TradingView: www.tradingview.com
NSE:BAJAJFINSVLong
by Munish_Jain
NIFTY Intraday Trade Setup For 8 Apr 2024NIFTY Intraday Trade Setup For 8 Apr 2024 Bullish-Above 22620 Invalid-Below 22570 T- 22830 Bearish-below 22300 Invalid-Above 22350 T- 22090 NIFTY has closed on a neutral note with slight gain of 1.2% gain. However it has closed above 22500 after 6 attempts. The weekly candle is a neutral and indecisive candle, a spinning top. Above its high-22620 we will plan bullish view and below its low-22300 we will plan a bearish view. Probability of upmove seems high but will follow market to trigger. Index has created inside candle on Friday which indicates a potential compression in markets so between 22620 and 22300 we will avoid directional trade. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 22620 then we will long for the target of 22830 and 23030. For selling we need a 15 Min candle close below 22300. T- 22090. 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 5 Apr 2024NIFTY Intraday Trade Setup For 5 Apr 2024 Bullish-Above 22620 Invalid- Below 22570 T- 22830 23030 Bearish-Below 22300 Invalid-Above 22350 T- 22090 NIFTY has closed with a 0.36% gain today. It was most volatile day after many days, maybe due to RBI event tomorrow. It opened with a big gap up and 10 o'clock range was to be used as per trade setup. Range broke downside below 22380 and gave 70+ points move in favor then it recovered 70% from where it fell. Tomorrow it will be both way moves once again die to RBI Credit Policy. So Personally I will avoid trading tomorrow. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 22620 then we will long for the target of 22830 and 23030. For selling we need a 15 Min candle close below 22300. T- 22090. 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 around ATH, trading levels for intraday 05/04/24.Banknifty has given a hammer candle around the higher levels after a gap up opening above 48k levels. The index came for profit booking after a good gap up and closed round 48k levels. Now the market is around the last resistance zone of 48300 and then there is the ATH. After a 3 day consolidation there was a gap up and it took the opportunity of making money in the up move. In case of another gap up, bullish trades on the retest can be made around 48300 levels . If there is a flat to slight gap down, bullish trades above 48250 can be created. Major Resistance levels :- 48250, 48530-590 The market has created highs after gap up openings. In the scenario too, it seems market will show some gap up if it wants to create new ATH. Support levels :- 47700, 47430 Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
NTPC: Will it break ATH and move aggressively?Recently, NSE:NTPC showing strength and buying pressure is building up constantly. Volume of past weekly data shows huge buildup is taking place near the marked yellow zone. While considering open interest of the future data , at Rs.450 there are huge call writing have been taken place. But current future vale of ntpc is at Rs.455, maybe we can see huge selling or a very aggressive breakout when every 9577k call writers close their positions. Anyway, company announced that, they are going to generate more energy in 2024. So, we can assume there is a potential demand for it.
NSE:NTPCLong
by uzumakisensi
NIFTY Intraday Trade Setup For 4 Apr 2024NIFTY Intraday Trade Setup For 4 Apr 2024 Bullish-Above 22530 Invalid-Below 22480 T- 22767 Bearish-Below 22390 Invalid-Above 22440 T- 22190 NIFTY has closed at a striking distance to ATH and on verge of a ATH breakout. It ended on a flat note today. Tomorrow if at all it breaks ATH then possibility of a shot covering rally is high. A strong momentum trade can be planned above 22530 which will be best directional for tomorrow. 22390 is intraday support so below 22390 we will plan a short trade, target of 22190 will be confirmed below today's low. High probability trade is in buy side. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 22530 then we will long for the target of 22767. For selling we need a 15 Min candle close below 22390. T- 22190. 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
2
NIFTY Intraday Trade Setup For 2 Apr 2024NIFTY Intraday Trade Setup For 2 Apr 2024 Bullish-Above 22530 Invalid-Below 22480 T- 22780 Bearish-Below 22420 Invalid-Above 22470 T- 22200 NIFTY has closed on a bullish note with 0.61% gain today. Entire gain has been contributed by gap up as it opened with 0.57% gain. For the rest of the day index traded between 22530 and 22430, inside 100 points. It has formed a shooting star candle in daily TF although closed with gains but daily candle suggests weakness. Yesterday's buy level was 22530 and same will be for tomorrow. Below 22420 index will be bearish in intraday. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 22530 then we will long for the target of 22780. For selling we need a 15 Min candle close below 22420. T- 22200. 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
FDC | Swing Trade📊 DETAILS Sector: Pharmaceuticals & Drugs Mkt Cap: 6,919 cr FDC (Fairdeal Corporation) Ltd Limited (found in 1936) is among India’s leading fully integrated pharmaceutical companies. The Company is a pioneer in the manufacture of specialized formulations, and among the world’s foremost manufacturers and marketers of Oral Rehydration Salts (ORS). Some of FDC’s leading brands in India include Zifi, Electral, Enerzal, Vitcofol, Pyrimon, Zocon, Zathrin, Zipod, Cotaryl and Mycoderm in the domestic and international markets. TTM PE : 27.54 (Average PE) Sector PE : 51.37 Beta : 0.31 📚 INSIGHTS Strong Performer Stock with consistent financial performance, quality management, and strong technical momentum indicating good investor enthusiasm. Currently valued at Good to expensive valuation 2.10% away from 52 week high Outperformer - FDC up by 5.42% v/s NIFTY 50 up by 4.71% in last 1 month 📈 FINANCIALS Piotroski Score of 6/9 indicates Average Financials Disclaimer: This analysis is for educational purposes only, and I'm not a SEBI registered analyst. If you found this analysis helpful, I encourage you to like and share it. Your observations and comments are also welcomed below. Your support, likes, follows, and comments motivate me to consistently share valuable insights with you. 🔍 More Analysis & Trade Setups 🔍 For more technical analysis and trade setups, make sure to follow me on TradingView: www.tradingview.com
NSE:FDCLong
by Munish_Jain
NIFTY Intraday Trade Setup For 1 Apr 2024NIFTY Intraday Trade Setup For 1 Apr 2024 Bullish-Above 22530 Invalid-Below 22480 T- 22780 Bearish-Below 22250 Invalid- Above 22300 T- 22045 NIFTY has closed on a bullish note last week with 1% gain. It was a short week of 3 sessions but since start of the week bulls took charge and held till weekend. Now above 22530-50 we will witness another round of strong bullish move in daily TF. On Thursday itself we discussed about hourly TF breakout above 22215 and it gave a fantastic move. Also since it has been rejected from ATH zone so there is a pullback scenario below 22250 towards 22045, which is again a reversal level. 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 22780. For selling we need a 15 Min candle close below 22250. T- 22045. 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
Bajaj Twins looks good bet for FY 2024-25.Bajaj Twin are waiting for a move while other stocks of the group has given good returns in last few months. Both the finance sector companies are trading a break out zone. Banks and other NBFC's has performed and created new highs. Bajaj Finance A bullish engulfing candle on the monthly charts is showing some trend reversal in the stock and has gained over 10% this month. Price action traders can seen the bullishness in the stock and it is trading in a consolidation zone creating a bullish break out pattern. There are chances of it consolidating around 7600-7800 levels and break out the higher 8200 levels creating a new ATH. Volume profile ,since April '24, is also showing much of the activity happening around the trading price which signifies less selling volume on the higher levels on monthly charts. Investment and positional stock holding in these stocks seems good for this FY. Target price as per Fib Ext. are 8700-9250. Bajaj Finserv Its ATH high is 1932.50 and the stock is trading around 1644 levels. Multi-month consolidation break out can be seen in the stock. If the stock starts to sustain above 1850-60, there are high chance of it giving 30-40% returns in coming FY. The major resistance around 1860 is there and a break out is there just below the levels around 1700. A position on the triangle break can be initiated with 25% of the investment capital and add on to the position on the horizontal zone break out. Volume profile of Bajaj Twins are matching and are at the trading price. More bullish confluences help in carrying the trade and it is doing it. The target price of 2100-2250 can be predicted as per the Fibonacci extention tool. Entry should be made only after watching a price action or a break out with good volumes while closing over the levels on weekly or monthly charts. Chart patterns and trading them are different thing. Price will be traded and chart pattern will help built the confidence.
NSE:BAJFINANCE
by TheMamboMomentum