Nifty 50 spot 24718.60 by Daily Chart view - Weekly UpdateNifty 50 spot 24718.60 by Daily Chart view - Weekly Update
- Support Zone 24180 to 24335 of Nifty Index Levels
- Earlier Support Zone now Resistance Zone 24675 to 24780 of Nifty Index
- Descending Triangle Breakdown came by the ongoing Geo-Political War situation for an abrupt unwarranted damage
Nifty50index
Nifty Weekly Outlook: Volatility Ahead Amid Global Tensions● Despite briefly breaking above the 25,100 resistance last week, Nifty failed to sustain the momentum and witnessed a corrective pullback towards the 24,500 level.
● Market volatility ticked up, with India VIX rising by 3.08% to 15.08 on a weekly basis, reflecting growing investor nervousness.
● Geopolitical tensions—particularly the escalating conflict between Israel and Iran—are weighing on global sentiment, and Indian equities are not immune to this uncertainty. However, relative strength in the Indian markets suggests that they may continue to outperform global peers in the near term.
● For the upcoming week, Nifty is expected to remain highly volatile, with wide-range oscillations likely. A directional trend may only emerge if Nifty decisively breaches 25,100 on the upside or breaks below the key support at 24,500.
● Options data indicates that the 25,000 level will act as a strong resistance, while 24,500 remains a crucial support zone.
● Importantly, if the index opens below 24,400 at the start of the week, it could invite further selling pressure, tipping the balance in favor of the bears.
● Given the global headwinds and sensitive technical setup, traders are advised to stay cautious as heightened volatility could dominate the week ahead.
Nifty 50 Index spot 24750.70 by Daily Chart view - Weekly UpdateNifty 50 Index spot 24750.70 by Daily Chart view - Weekly Update
- Resistance Zone 25200 to 25450 of Nifty Index
- Support Zone 24675 to 24780 sustained by Nifty Index
- Nifty seems stuck within Descending Triangle pattern above Support Zone, needs to breakout from it for fresh upside
- Gap Up Opening of 256 points created on 12-May-2025 will act as void blank area until it is closed sooner or anytime later
- Gap Down Openings made after the ATH 26277.35 on 27-Sept-2024 will need to be closed sooner or later to create New ATH
Nifty 50 Index spot 24924.70 today by the Daily Chart viewNifty 50 Index spot 24924.70 today by the Daily Chart view
Open 24420.10
High 24944.80
Low 24378.85
Close 24924.70
Gap Up Opening Difference 256 points
Todays Total Gains 565.95
Overall Total Points Gained 822 points 😃🙌🏼🤩🤝🏼😍👍🏼
* The Gap Up Opening today of 256 points will need to be closed sooner or later on for it might act as a vacuum created space to be filled in.
Nifty 50 Index spot 24008 by Daily Chart viewNifty 50 Index spot 24008 by Daily Chart view
- Resistance Zone 24675 to 24780 Nifty 50 Index Band
- Nifty is at Support Zone 23875 to 23975 Nifty 50 Index Band
- *Nifty having sustained above the Support Zone is bound to a bounce back by the cross border mellowed down situation*
- *The ongoing uncertainty of cross border situation has got some certainty of ceasefire so let us hope for the best to happen for a positive outcome over next week*
Nifty 50 Index spot 24346.70 by Daily Chart view - Weekly UpdateNifty 50 Index spot 24346.70 by the Daily Chart view
- Support Zone 23875 to 23975 Nifty 50 Index Band
- Resistance Zone 24675 to 24780 Nifty 50 Index Band
- Volumes are well in sync with the average traded quantity
- Nifty Index has sustained well above the immediate Support Zone at 23785 to 23975 and contained below Resistance Zone 24675 to 24780 over past 2 weeks
- Nifty Index is behaving erratically by jumping from positive to negative and vice versa between the days highs and lows over keeping an eye on the ongoing cross border uncertainty state and seems it is keeping submissive to fear factor
- Let us hope for the best to happen for a positive outcome over the coming days/weeks and foresee Nifty 50 Index to gradually and steadily progress towards the current ATH 26277.35 for a New ATH, in line with the Bank Nifty Index strides
Nifty 50 Index spot 24039.35 by Daily Chart view - Weekly UpdateNifty 50 Index spot 24039.35 by the Daily Chart view - Weekly Update
- Resistance Zone 24675 to 24780 Nifty 50 Index Band
- Volumes are in good sync with the average traded quantity
- Both the Falling Resistance Trendlines have been decently maintained todate
- Earlier Resistance Zone now a Support Zone at 23875 to 23975 Nifty 50 Index Band
- Bullish Double Bottom formed at the Support Zone neckline has yet sustained by Nifty Index
Nifty 50 spot 24556.00 by Hourly Chart viewNifty 50 spot 24556.00 by Hourly Chart view
- Intermediate Support Zone 24475 to 24525
- Resistance Zone 24750 to 24885 Price Band may become a Support Zone
- The Next Support Zone seen at 24300 to 24375 Price Band acting as H&S neckline
- Resistance Zone 24750 to 24885 Price Band needs to be crossed, closure sustained above it for continued upwards bullish transition
My personal view on the Nifty 50 spot 235559.05 by Daily Chart v*My personal view on the Nifty 50 spot 235559.05 by Daily Chart view*
- 2 nos of Gap Down Openings are closed
- 2 nos of Gap Down Openings will get closed in next ATH creations process
- Most probable Support Zone 23200 to 23350 to anticipate for upside reversal prospective
- Huge Downfall of 04th June, 2024 has closed the past 2 nos Gap Up Opening and 2 nos Gap Down Openings
- *Nifty 50 post hitting the ATH retraced and formed a Bearish Head & Shoulders pattern and pretty much has covered the depth by the neckline*
- *Based on the Technical Chart Setup, we may now anticipate and expect to look forward for an upside reversal to happen from the Support Zone*
Nifty 50 spot 24685 by the Daily Chart viewsNifty 50 spot 24685 by the Daily Chart views
-Gap Down Opening Fill-Up for 05-August-2024 seen by all probably is seen on the Nifty 50 Daily Chart. Gap Down Opening was from 24686 to 24350
- Nifty Index traversed thru Back to Back Parallel Rising Price Channel but currently it seems like a decent Resistance Zone at 25075 to 25225 with the nearest Support Zone seen at 24375 to 24475
Nifty 50 spot 25014.60 by Daily Chart views*Nifty 50 spot 25014.60 by Daily Chart views*
- 24750 to 24875 may be probable Support Zone
- Gap Down openings will need to be filled in sooner or later on
- Nifty 50 Index traversing in Bullish Rising Price Channel currently near Probable Support Zone for upside reversal anticipated
Nifty 50 Trading view for 05 May 2023Nifty50 closed at 18089 as there was selling pressure observed in metal, banking, and technology stocks. SGX nifty signals a neutral to gap down opening. Markets closed lower prior to the US Fed policy meeting. Strong buys from FIIs saved the day along with strong economic data. FIIs' cash purchase was 1338 CR and DIIs bought 584 CR (Net positive of 754)
As expected, the US Fed declared a 0.25% hike in interest rates. They also pointed out that there could be a pause in future hikes. This is positive news and hopefully, a 0.25% increment would have already been factored in our earlier trades. But quite interestingly US stocks ended in the red, shedding their gains. This could be due to banking crisis worries and the debt ceiling (US govt payment obligations as of June 1st).
Today the market is expected to be in the range of 18200 on the upper side and 17975 on the lower side. The overall sentiment is neutral to bullish, as Nifty has managed to stay afloat above 18000. As mentioned earlier, it's important for the index to retain its position above 18000 levels and cross 18233 levels to see further upside. Suggested to trade in limited quantities with strict stop loss or hedging strategy.
Support and Resistance:
Resistance: 1.64 CR Call OI buildup @ 18200 level. A huge call writing was observed at the 18100 and 18200 levels.
Support: 1.22 CR Put OI buildup @ 18000 level (STRONG SUPPORT @ 18000 LEVEL)
17800 still seems to be a crucial support level (make or break level)
Do keep a close watch on these levels and nearby strike prices to determine the next move in the market.
It is important to keep a close watch on VIX as it dropped to 11.84 (0.48%). This index confirms risk sentiment in the market.
Chart Pattern:
A small red hammer was formed after six consecutive green candles. There could be possible consolidation or minor weakness observed in the next 1 to 2 sessions. Apart from 18000, 17900 also seems to be a crucial support for the index.
Possible Trading Levels:
UPSIDE TRADE:
Buy only above 18120 >>>>> Buy ITM 18100 CE. (TGT 18180 | SL 18075)
DOWNSIDE TRADE:
Sell only below 18050 >>>>> Buy ITM 18100 PE (TGT 17980 | SL 18100)
Things to account for 05 May 2023:
1. The Fed raised the interest rate by 25bps. A pause is expected in further rate increases as highlighted by the Fed.
2. DOW JONES Down -270.29, OR -0.80 PERCENT, AT 33414 despite opening positive 33,726.64. This can have a bearing on today's trade.
3. Corporate Results:
Housing Development Finance Corporation, Hero MotoCorp, Adani Enterprises, Dabur India, Tata Power, TVS Motor, Sundram Fasteners, 360 ONE WAM, Aptus Value Housing Finance, Blue Star, Bombay Dyeing & Manufacturing Company, CEAT, FirstSource Solutions, IDFC, Jammu & Kashmir Bank, Mindspace Business Parks REIT, and United Breweries.
Trading is risky, and it is advised to consult a financial advisor prior to trading. These are purely my opinion based on my trading experience and exercise caution while trading. Many of these strategies are subject to adjustments as per market movements as markets are dynamic and change due to several factors.
If you require a financial advisor to assist you with investing or trading needs, please contact us using the comments section.
HAPPY TRADING!!!
NIFTY50 INDEX ANALYSIS FOR 23 MAR 22Hello, nifty50 index analysis & view above: 17,350 index will go upto 17,600 & 17,800 will be resistance level (targets identified from harmonic xabcd/abcd pattern level 0.886/2.24).
LOGIC BEHIND TRADE: Index has given breakout of it`s dynamic trendline resistance & making higher highs & lower lows it`s indication of uptrend. NSE:NIFTY
NIFTY50 INDEX ANALYSIS FOR 14 FEB 22Hi everyone, Nifty50 index analysis & view consider buy above: 17,450, targets: 17,600/17,650, sell below: 17,300, targets: 17,085. (Targets identified from harmonic xabcd/abcd pattern level 0.886/1.618) index is trading in range & will trade breakout/breakdown of range. NSE:NIFTY
NIFTY50 INDEX ANALYSIS FOR THIS WEEK!Hi everyone, Nifty50 index analysis & view for this week index has formed (W) pattern in 1 hour chart and given breakout of it`s resistance & now it`s taking support above: 17,320 index can go upto (17,550-17,600) level identified from harmonic abcd pattern level 1.618 & if sustain above next target will be 17,820 which is identified from harmonic xabcd pattern level 1.131. Index is bullish for short term! NSE:NIFTY
NIFTY50 INDEX ANALYSIS FOR 18 JAN 22Hi everyone, Nifty50 analysis for 18 jan 22, for tommrow nifty50 index is trading near it`s important support & if goes below 18,120 then targets are 17,900/17,700 (targets identified from harmonic xabcd pattern level 1.618/2.272) if sustain above 18,350 & index can go upto it`s all time high 18,600. NSE:NIFTY
NIFTY50 INDEX ANALYSIS FOR 04 JAN 22Hi everyone, Nifty50 index analysis & view for tommrow and this week, recently nifty50 index has given correction of 2,200 points+ and now it is testing it`s major resistance level 17,650 price may correct from here, but if sustains above 17,650 then index can go upto it`s all time high 18,600 (level identified from harmonic xabcd pattern). looks like trend is going to change if sustains above 17,650 downtrend will be invalid & new uptrend will start. NSE:NIFTY
NIFTY50 INDEX ANALYSIS FOR 20 DEC 21Hi everyone, Nifty50 index analysis on 1D chart rececntly we`ve seen fall in nifty50 index after it breaks daily support 17,600 & bounced from 16,760 (level identified from harmonic xabcd pattern level 1.618) now nifty50 index can test it`s support 16,760 and if breaks can go between (16,300-16,150) level indentified from harmonic abcd pattern level 1.618 price structure is showing downside movement which indicates trend has changed & downtrend started. NSE:NIFTY