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Niftyanalysis

NIFTY Intraday Trade Setup For 22 Aug 2023NIFTY Intraday Trade Setup For 22 Aug 2023 Bullish-Above 19430 Invalid-Below 19380 T- 19505 19595 Bearish-Below 19350 Invalid-Above 19400 T- 19250 19170 NIFTY has closed on a bullish note with 0.43% gain today. Buy triggered as per trade setup above 19380 and gave small momentum till 19425 which did not hit our target. Target was not achieved as the run started from 19300 zone itself. In the weekend we have already discussed that 19500 is the last swing high in hourly TF, so its a key resistance. After it is validated by fall thereafter 19500 is sustained then there will be a chance of reversal. 19250 is the hourly support, break of which will unfold downside momentum. Coming to Tuesday's trade setup, if index opens flat and a 15 min candle closes above 19430 then we will long for the target of 19505 and 19595. For selling we need a 15 min candle close below 19350. 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 - 21st August 2023Dear All, As we had observed a Doji formation on the Day chart of Nifty on the last Friday. Likewise, fortunately we had witnessed a closing of above 19300 on Friday itself. However, overall the situation is still quite crucial as of now, since Nifty is finding difficulty and is not being able to reach and sustain above the level 19550. Therefore, in such a situation it is being very difficult to predict about the next move of the Market, as of now. But still we have the 2 important levels to consider, i.e., 19300 and 19550 on the upper side. Moreover, just as we had stated on the last Friday as well, similarly there’s a probability to witness some panic in the Market if in case Nifty breaks the level of 19300 on closing basis. So, in such a situation, following the Cherry Picking strategy will be a good idea here, also it will be better to keep Rebalancing the portfolio . Furthermore, for those who had already been rebalancing their portfolios at around the 20000 level, they can be suggested to partially accumulate in the Market following the Cherry Picking strategy as of now. Keep Trading! Keep Investing! Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTY
by alokdaiya
NIFTY Intraday Trade Setup For 21 Aug 2023NIFTY Intraday Trade Setup For 21 Aug 2023 Bullish-Above 19380 Invalid-Below 19330 T- 19480 19570 Bearish-Below 19250 Invalid-Above 19300 T- 19133 19020 NIFTY has closed with slight bearish sentiment last week with 0.61% cut. Our swing short has been planned on 30 Jul. Our short level is 19560 and till now it is standing with more than 1:1 gain. Our target is already discussed multiple time which is near 18750 zone. Below 19280 we will get the next round of selling. No plan of buying till we get a bullish price structure in hourly and daily TF. As of now 19500 looks a important swing high as a reversal point. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 19380 then we will long for the target of 19480 and 19570. For selling we need a 15 Min candle close below 19250. T- 19133 and 19020. 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
Case Study of Nifty with Elliott Wave ProspectiveHello Friends, Welcome to our Case Study of Nifty with Elliott Wave Prospective. In this analysis, we'll be taking a closer look at the Nifty index using a powerful tool called Elliott Wave theory. Think of Elliott Wave as a way to uncover hidden patterns in the market's movement, a bit like solving a puzzle. Imagine you're on a journey to understand where the Nifty index might be headed next. We'll be using the Elliott Wave lens to interpret the price movements and potential trends. This isn't about predicting the future with a crystal ball – it's about using historical patterns to make informed guesses about what could happen. Throughout this case study, we'll dive deep into Nifty's recent price action and explore how it aligns with Elliott Wave principles. We'll be looking for waves and patterns that have appeared before and could repeat themselves. These waves might give us hints about potential ups and downs in Nifty's journey. Remember, the market can surprise us, and there are no guarantees. This analysis is like a compass guiding us based on the historical behaviors we've observed in the past. It's always important to consider other factors too, like news and events. By the end of this case study, you'll have a better grasp of how Elliott Wave analysis works and how it can provide insights into Nifty's future moves. So, let's jump into the Analysis video study of Nifty and Elliott Wave together and uncover the prospective paths it might take. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing
NSE:NIFTY
by RK_Chaarts
16
Morning Mantra - 18th August 2023Dear All, Just as we had stated in our Previous Morning Mantra update about our expectation on Nifty creating some cautiousness in the Market. Likewise the same was witnessed yesterday itself. As after a flat to negative opening, the Market showed us a further decline in its levels. Moreover, today is the last trading day of the week. Besides, on the weekly chart, we can now observe a Doji formation. Wherein, as per our expectation, it will somehow be better to witness the same flat closing today as well. As it can show us a positive reversal in the upcoming days. While on the other hand, if in case Nifty gives a closing of below 19300, then we will have to work on our Portfolio as thereafter we can get to witness some further panic in the Market. Same in the case of BankNifty, as even here we can observe a Doji formation on the Day chart. Where, on the positive side, the Index didn’t break through its support level of 43800 on closing basis, yesterday. So, the levels of 44444 and 43800 will remain to be the important levels for BankNifty, as of now. Keep Trading! Keep Investing! Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTY
by alokdaiya
NIFTY Intraday Trade Setup For 18 Aug 2023NIFTY Intraday Trade Setup For 18 Aug 2023 Bullish-Above 19390 Invalid-Below 19340 T- 19480 19570 Bearish-Below 19320 Invalid-Above 19370 T- 19250 19150 NIFTY has closed with a decent cut of 0.51% today. Sell triggered as per trade setup below 19410 and hit our 1st target very smoothly, then as usual bounce from the target zone. It has formed an inside candle in daily TF, so above 19485 if sustained by any chance then possibility of a big move tomorrow. However we will be buying above 19390. Below 19320 , simple short position. In case it sustains below 19250 then possibility of a big fall. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 19390 then we will long for the target of 19465-80 and 19570. For selling we need a 15 min candle close below 19320. T- 19250 and 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 - 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