Hello Traders!
1. We can see an ending diagonal forming on the Nifty50 chart on the 1hr tf .
2. The retracement levels have been mentioned which gives us more evidence of the market following the wave pattern.
3. We see a strong trend resistance of the market. Once the resistance is cleared, we can look forwards to buying calls or selling puts, whatever...
Analysis may be wrong for 1 or even 2 days but using this trading style i gained very much points in nifty in past because the R:R is good like 1:4 or 1:6. My analysis was for friday was wrong but i think you forget about the trade that we took and analysed on 12/ 01 /23. but due to some rules and regulation the post was been private. Ok leave it.
Let's discuss...
NSE:NIFTY
Retraced towards sub wave 4 low as per #Elliottwave
Wedge formation with RSI Positive Divergence.
Near Support zone . Breakout of 1 year consolidation.
And Uptrend Line.
With Market Mood in Fear.
High chance we are nearing end of Correction in wave 2.
Nifty ConfirmTarget 13 December 2022
Support Zones For nifty Intraday Trading
First Support Zone For nifty50 – 18444 - 18455
Second Support Zone For nifty50 – 18380 - 18385
Third Support Zone For nifty50 – 18298 - 18314
Resistance Zones For Nifty50 Intraday Trading...
Green will be resistance.
Red level will be Support.
Sideways day expected. Green line will act as turn level.
Red supports (second one) can act as turn level.
Weekly Expected expiry zones indicated. Trade as per your own risk.
NSE:NIFTY is at important make or break level, can plan for btst put if head and shoulder is confirmed, can buy month expiry 18000 put at 18148/18175 (left shoulder high range) after head is created.
Sitiation 1
Price may see a upward direction for a target pf 17250 & 17400
Situatioin 2
after lower opening If we are getting rejection from 17100 then we may see 17k again and this will open doors of 16.8k
#Note - The idea is shared for educational purpose and not a trade recommendation, Please trade after consulting your trade advisor. We don't give any...
NSE:NIFTY nifty completed the parallel channel of 30 mins time frame, important intraday levels for expiry , as per suppport/resistance and supply/demand analysis.
Nifty showed positive divergence during price fall since last friday. RSI showing continuous increase in strength while price is continuously falling down. swing high of range selected for analysis is 17176.. which is achieved today.
Nifty 50 is now ready to move towards it's ALL TIME HIGH by giving nice rally the healthy retracement is done now there ar two possibilities either nifty breaks it's ATH and move forward or take resistance and turns in bear market...👍
PROFIT BOOKED 1:3.5💯💯
Used 5min Time-frame for Trading
Yesterday I gave my levels and setup for trade.
But as today market opened gap up, I updated new Levels.
Kindly check my Yesterday post pinned below.I have updated new levels in morning as market opened gap up
Used past analysis to find support and resistance level on 15min time frame.
On 5min Time-frame...
Nifty50 Intraday Analysis NSE:NIFTY
Kindly change to 5min Time-frame
As on chart we can see there is RED LINE= Resistance.
GREEN LINE= INTRADAY HIGH=SUPPORT
On 29 Aug market opened huge downside then traded due to fall in DowJones. HENCE NO TRADE FOR TODAY
CONDITION FOR TRADE::
BUy ABOVE 17382
SELL BELOW 17280
