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Niftyanalysis

Morning Mantra - 17th August 2023Dear All, Just as we had stated yesterday about the huge chance of witnessing a bounce back in Nifty, as a result of observing a bullish reversal pattern, named hammer. Likewise the very same was observed yesterday itself. As once again after taking a support at around 19300, i.e., at 19317 Nifty finally gave us a positive closing of 19465. Well for now, we are still in between the 2 important levels of 19550 and 19300. Besides, Today is the day of weekly settlement, so it will altogether be a crucial day. Furthermore, it will somehow be better to wait and watch for a clear cut indication with an either side movement in the Market. Consequently, the Conservative Traders can avoid Trading for Today, in order to be on a safer side. Whereas, the Aggressive Traders can take a chance of Cherry Picking with the stop loss of 19300. On the other hand, even in BankNifty we had got to witness a positive closing of above 43800, i.e., at 43946 yesterday. However, here again we are in between the levels of 44444 and 43800. So, for clarity, it will be better to wait for a clear cut indication with an either movement in the Index. Keep Trading! Keep Investing! Regards, Alok Daiya SEBI Registered Research Analyst
NSE:BANKNIFTY
by alokdaiya
NIFTY Intraday Trade Setup For 17 Aug 2023NIFTY Intraday Trade Setup For 17 Aug 2023 Bullish-Above 19485 Invalid-Below 19435 T- 19570 19655 Bearish-Below 19410 Invalid-Above 19460 T- 19331 19250 NIFTY has closed on a slight bullish note with 0.16% gain today. It opened with a decent gap down but after the 1st 15 Min candle liquidity was grabbed and it recovered. However sell was not triggered as per trade setup. Later 10 o'clock range broke upside above 19390 and gave almost 90 points gain, initially it hunted sl and in the 2nd attempt it went in flow. Above 19485 if sustained we get a good upside move which will be based on 19500 CE short covering. 19410 is the downside level. Coming to Thursday's trade setup, if index opens flat and a 15 min candle closes above 19485 then we will long for the target of 19570 and 19655. For selling we need a 15 min candle close below 19410. T- 19331 and 19250. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:NIFTY
by Omahto
Morning Mantra - 16th August 2023Dear All, So once again we had witnessed the significance of 19300 level on Monday itself. As after making a low of around 19257 during the day, the Index ultimately gave us a positive closing of around 19434. Well now we can observe a bullish reversal pattern, named as Hammer, on the Day chart setup of Nifty. So, we are now expecting a bounce back from the current levels. Whereafter, if Nifty takes a support at this level and manages to gives a positive closing of above 19550, then we will be in an aggressive buying mode. Otherwise, until then, we will have to wait and watch for either a breakout of above 19550, or a breakdown below 19300 on closing basis. In the meanwhile, it will be better to keep Rebalancing the Portfolio. Besides, as per the chart of BankNifty, we can now observe the perfect formation of a Doji Pattern. For which, just like we always say - “A Doji Formation on the chart and a Fauji (soldier) on the Border is quite indicative of a safer zone for the Bulls”. So, as of now there’s a symbol of Reversal on the chart of BankNifty as well. However, here again it will be better to wait for an either side movement, i.e., a breakout of above 44444 and a breakdown of below 43800 on closing basis. Keep Trading! Keep Investing! Regards , Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
NIFTY Intraday Trade Setup For 16 Aug 2023NIFTY Intraday Trade Setup For 16 Aug 2023 Bullish-Above 19470 Invalid-Below 19420 T- 19560 19655 Bearish-Below 19340 Invalid-Above 19390 T- 19250 19150 NIFTY has closed absolutely flat today. It opened with a small gap down, below our sell level and fun fact is that 1st target was achieved in the 1st candle itself. Later it shot up till day high from the 1st support zone. 10 o'clock range broke upside, gave around 70 points gain. It has formed a Pin bar candle in daily TF so above 19470 we can expect bullishness. For fast downside move level is 19250 while we will short below 19340. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 19470 then we will long for the target of 19560 and 19655. For selling we need a 15 Min candle close below 19340. T- 19250 an 19150. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:NIFTY
by Omahto
Morning Mantra - 14th August 2023Dear All, First of all, wish you all a very Happy Independence Week and a Week of Financial Azadi. Furthermore, we are expecting that for this trading week as well we can witness a sideways momentum in the Market. So, we will have to wait and watch for a clear cut indication, i.e., either a breakout of above 19550 or a breakdown of below 19300. Most probably this week can be a crucial one for the Market, as due to a holiday on the 15th of August, this week consists of 4 Trading Days only. So, as of now, it is better to keep Rebalancing the Portfolio and keep following the Cherry Picking strategy, as even in the previous week we had got to observe a lot of stock specific momentum in the Market. Keep Investing! Keep Trading! Regards , Alok Daiya SEBI Registered Research Analyst
NSE:NIFTY
by alokdaiya
NIFTY Intraday Trade Setup For 14 Aug 2023NIFTY Intraday Trade Setup For 14 Aug 2023 Bullish-Above 19495 Invalid-Below 19445 T- 19575 19655 Bearish-Below 19410 Invalid-Above 19460 T- 19285 19175 NIFTY has closed on a slight bearish sentiment last week and day with 0.45% and 0.59% cut respectively. Last week we planned that we will re-enter the short trade below 19560 if triggered again. Now this is active, targets are already discussed which is near 18750 zone. It is likely to go in flow below 19290 if closed in daily TF. As of now index is in decline phase where it will be sideways-bearish. No planning of buy till we get a previous swing high breakout in daily TF. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 19495 then we will long for the target of 19575 and 19655. For selling we need a 15 Min candle close below 19410. T-v19285 and 19175. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:NIFTY
by Omahto
Morning Mantra - 11th August 2023Dear All, Yesterday we had got to witness a minute closing of near 19550, i.e., at 19543.10 Therefore, overall we can see that the Market is currently trading in a consolidation phase. Where it is better to wait for a clear cut indication, as of now. Furthermore, we had also witnessed a selling pressure in most of the stocks yesterday. So, with the support of 19300, we can take this downfall as an opportunity for the upcoming days. Keep Trading! Keep Investing! Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
NIFTY Intraday Trade Setup For 11 Aug 2023NIFTY Intraday Trade Setup For 11 Aug 2023 Bullish-Above 19650 Invalid-Below 19600 T- 19745 19845 Bearish-Below 19490 Invalid-Above 19540 T- 19381 19280 NIFTY has closed on a bearish note with 0.46% cut today. Nothing triggered as per trade setup today. It was discussed that if it opens gap down then 19530 zone can act as a support and it gave a small bounce of more than 50 points. It was volatile and then turned sideways as IV cool off after RBI announcement. Important levels are 19650 and 19490 for tomorrow's session to look for breakout. In case of a flat opening above 19560 there can be some bounce, however buy level is 19650. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 19650 then we will long for the target of 19745 and 19845. For selling we need a 15 min candle close below 19490. T- 19381 and 19280. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:NIFTY
by Omahto
Morning Mantra - 10th August 2023Dear All, So finally we have observed the impact of witnessing a closing of above 19550 for 2 consecutive days, just as it was stated. As after those 2 days, Nifty has ultimately given us a positive closing of approx 19632.55 yesterday. Altogether, the Market is currently in a very choppy mode. Where we can clearly observe the stock specific momentum, which is also due to the ongoing Result season. So, as per the current scenario, we have to keep a track on the important levels of 19300-19550-19800. Where, since Nifty is currently trading above the level of 19550, so we can expect it to move towards the level 19800 with the support of 19550 on closing basis. On the other hand, a closing below 19550, will activate the level of 19300 once again. Therefore, in the meanwhile, be stock specific and keep following the Cherry Picking strategy. Keep Trading! Keep Investing! Regards , Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
Inverse head & shoulder activated in 1 hour ?Hi All, I already posted an idea with 15 minutes. I will give reference below. If we see in 1 hour from 27 Jul this pattern is getting formed and rejected multiple times at upper trendline. If we draw inverse head & shoulder pattern touching with the trendline we can see breakout has happened already today. If this retests target is previous all time high. Always trade carefully with proper SL because it’s your hard earned money. Please note this is just my observation and purely for educational purposes only. Consult with your financial advisor before taking any trade.
NSE:NIFTYLong
by tmvinoth3
NIFTY Intraday Trade Setup For 10 Aug 2023NIFTY Intraday Trade Setup For 10 Aug 2023 Bullish-Above 19650 Invalid-Below 19600 T- 19745 19843 Bearish-Below 19465 Invalid-Above 19515 T- 19375 19280 NIFTY has closed on a bullish note with 0.32% gain today. It has formed a Pin bar candle in daily TF so we can expect some more bullish momentum above 19650, if sustained post 10o'clock or in 15 Min TF. Today it opened flat and sell triggered as per trade setup and gave more than 1:1 gain later it formed reversed structure and reversed. In case of a gap down 19535 zone will act as a support. For a trendy short we have to wait for 19465 breakout. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 19650 then we will long for the target of 19745 and 19843. For selling we need a 15 Min candle close below 19465. T- 19375 and 19280. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:NIFTY
by Omahto
NIFTY Intraday Trade Setup For 09 Aug 2023NIFTY Intraday Trade Setup For 09 Aug 2023 Bullish-Above 19635 Invalid-Below 19585 T- 19737 19843 Bearish-Below 19530 Invalid-Above 19580 T- 19430 19341 NIFTY has closed on a slight bearish note with minor cut of 0.13% cut today. Since last 3 sessions index has lost momentum. Nothing triggered as per trade setup. Usually this type of contraction or momentum happens before any event/ big move. Lets see when momentum unfolds. 19635 and 19530 is the 100 points range for tomorrow's session to look for breakout. Tomorrow whichever side it trade gets triggered follow 10 o'clock range breakout along with that. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 19635 then we will long for the target of 19737 and 19843. For selling we need a 15 Min candle close below 19530. T- 19430 and 19341. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:NIFTY
by Omahto