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Niftyanalysis

Morning Mantra - 21st June 2023Dear All, Just as we had stated yesterday, similarly almost both of our statements were proven to be absolutely on point yesterday itself. That is, after witnessing a fall in the Market, we did also witness a good recovery in Nifty, thereafter. Well as of now, as per the Day chart setup of Nifty, we can observe the formation of a Hammer pattern. Besides, currently we are once again very near to the level of 18888. Therefore, we are expecting that somehow by this week, Nifty can show us a crossover of above this crucial Resistance level of 18888. Last but not the least, on a special note, since the Market is very near to its New High, we must continue Rebalancing our Portfolio. Keep Trading! Keep Investing! Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
NIFTY Intraday Trade Setup For 21 Jun 2023NIFTY Intraday Trade Setup For 21 Jun 2023 Buy-Above 18840 Sl-18790 T- 18950 19058 Sell-Below 18755 Sl-18805 T- 18649 18550 NIFTY has closed on a bullish note with 0.33% gain today. We have built a long position @ 18460 for the target of a fresh ATH. We are at striking distance to our target. Yesterday it was clearly said that we may give a breakdown of the rising wedge pattern in hourly TF but we will not consider that. We will consider only when we get a bearish price structure in daily TF. Exactly same was followed. It gave a breakdown of the rising wedge pattern and reversed completely. 18840 and 18755 are the important levels for tomorrow's session. Coming to Wednesday's trade setup, if index opens flat and a 15 min candle closes above 18840 then we will long for the target of 18950 and 19058. For selling we need a 15 Min candle close below 18755. T- 18649 and 18550. 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 - 20th June 2023Dear All, Even after making a high of 18881.45 yesterday, Nifty had somehow failed to crossover the level of 18888 that we had stated on the 14th of June, 2023 as well as yesterday. Moreover, as per the Day chart setup, we can now observe the formation of a Dark Cloud Cover, which being a bearish indicator can bring some weakness in the Market as of now. While on the other hand, as per the hourly chart setup, we are quite optimistic about witnessing a bounce back Today. So overall, Today will be a very crucial day for the Market, once again. Besides, one might wonder the reason behind witnessing so many crucial days. Well that’s because we are now very near to the Fresh New High, where it is quite natural to witness a huge volatility at the upper levels. Therefore, as of now, we have to stay cautious and continue rebalancing your portfolio along with following the Cherry picking methodology. Last but not the least, with the support level of 18400 we are quite optimistic for the Market. On the other hand, the level of 18888 remains to be the crucial Resistance level for the Market, as of now. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
NIFTY Intraday Trade Setup For 20 Jun 2023NIFTY Intraday Trade Setup For 20 Jun 2023 Buy-Above 18800 Sl-18750 T- 18890 18975 Sell-Below 18715 Sl-18765 T- 18649 18580 NIFTY has closed on a bearish note with 0.37% cut today. It was in a selling mode since the 1st candle. Sell triggered below 18805 and hit our 1st target very smoothly. Trade gave more than 80 points gain. Index is sideways inside the rising wedge consolidation. Below today's low - 18715 there will be a breakdown scenario of the rising wedge pattern in hourly TF. However we need a proper reversal structure in daily TF to consider that. Above 18800 we will hit a fresh ATH near 19058. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 18800 then we will long for the target of 18890 and 18975. For selling we need a 15 Min candle close below 18715. T- 18649 and 18580. 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 19 Jun 2023NIFTY Intraday Trade Setup For 19 Jun 2023 Buy-Above 18865 Sl-18815 T- 18935 19020 Sell-Below 18805 Sl-18855 T- 18745 18670 NIFTY has closed on a bullish note with 1.41% gain last week. Last week we discussed that we were at the hourly trendline support. This week support was taken and we rallied in a slight zig-zag way. On 26 May , long triggered @ 18460 on the daily swing breakout. Till now we have got 400 points gain. 1st target is a fresh ATH which is already discussed multiple times. We are at striking distance to our 1st target. No sign of bearishness till we break the hourly trendline support. Also sentiment will reverse when we will close below previous week's low. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 18865 then we will long for the target of 18935 19020. For selling we need a 15 Min candle close below 18805. T- 18745 and 18670. 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
1
NIFTY Intraday Trade Setup For 17 Jun 2023NIFTY Intraday Trade Setup For 17 Jun 2023 Buy-Above 18760 Sl- 18710 'T- 18823 18890 Sell-Below 18665 T- 18715 T- 18609 18550 NIFTY has closed on a bearish note with 0.36% cut today. It was a bit more volatile than BANKNIFTY as BANKNIFTY moved in a clear cut direction whereas NIFTY moved both way. Firstly buy triggered which hit 50 points sl. Later sell triggered below 18730 and hit our 1st TGT (18730- 18670). It is still inside the rising wedge pattern unlike BANKNIFTY. The breakdown has to be spotted in hourly TF. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 18760 then we will long for the target of 18823 and 18890. For selling we need a 15 Min candle close below 18665. T- 18600 18540. 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
1
NIFTY Intraday Trade Setup For 15 Jun 2023NIFTY Intraday Trade Setup For 15 Jun 2023 Buy-Above 18770 Sl-18720 T- 18830 18890 Sell-Below 18730 Sl-18780 T- 18675 18615 NIFTY has closed on a bullish note with 0.21% gain today. Buy triggered above 18730 and gave almost 40 points which was slightly less than 1:1. After long triggered above 18460, swing breakout in daily TF. It has been inching towards our target which a fresh ATH. It is moving like a turtle BTW bcs of low VIX. It has moved less than 1.75% in the last 30 days. Momentum will start to kick in only when VIX starts to rise above 14. Above 16 medium length swings and good momentum will be seen in markets again. Till then enjoy slow and choppy momentum. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 18770 then we will long for the target of 18830 and 18890. For selling we need a 15 min candle close below 18730. T- 18675 and 18615. 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 - 15th June 2023Dear All, So yesterday was another confused day for the Market. Where on the one hand, the overall sentiments are still positive, while on the other there is a tough fight going on between the bull and the bear. For now, since Today is the crucial Thursday of the crucial week, it will somehow be better to consider today as a “No Trade Day”, and wait for Nifty to make the final decision. Which can be to either give a clear cut breakout as per the Day chart, or to take a Week more to decide its final direction for us. In the meanwhile, keep rebalancing your portfolio here and be stock specific. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTY
by alokdaiya
NIFTY Intraday Trade Setup For 14 Jun 2023NIFTY Intraday Trade Setup For 14 Jun 2023 Buy-Above 18730 Sl-18680 T- 18807 18890 Sell-Below 18680 Sl-18730 T- 18615 18550 NIFTY has closed on a bullish note with 0.62% gain today. Buy triggered as per trade setup above 18635 and hit 1st target (18635- 18728+). It was total sideways the whole day after our 1st target was achieved. It has been updated multiple times that we have to very conservative in targets and have to focus on small RR gains. This type of momentum less market will be active till VIX starts to rise. 18730 and 18680 are important levels for tomorrow. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 18730 then we will long for the target of 18807 and 18890. For selling we need a 15 min candle close below 18680. T- 18615 and 18550. 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 13 Jun 2023NIFTY Intraday Trade Setup For 13 Jun 2023 Buy-Above 18635 Sl-18585 T- 18707 18780 Sell-Below 18555 Sl-18600 T- 18485 18400 NIFTY has closed with a slight gain of 0.21% today. Buy triggered as per trade setup, above 18595 and whole day it slept at cost. It was a complete sideways and momentum less market. This is due to ultra low VIX and after a parabolic move this type of market is common as per market phases. We will simply use today's range to build our trade for the next day. 18635 and 18555 is the range, breakout will give a good directional move. But do not target big and focus on small RR gains. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 18635 then we will long for the target of 18707 and 18780. For selling we need a 15 Min candle close below 18555. T- 18485 and 18400. 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 12 Jun 2023NIFTY Intraday Trade Setup For 12 Jun 2023 Buy-Above 18595 Sl-18545 T- 18685 18780 Sell-Below 18555 Sl-18605 T- 18485 18400 NIFTY has closed on a bearish sentiment last week and formed a shooting star in daily charts. The shooting star is not a perfect place to consider for a confirmed short trade. However we can get some down move if we sustain below candle's low- 18550.Important level for short is 18450, below this we get a sell structure then we will plan for a sell trade or else not. This was all about daily TF. Coming to hourly TF, we are at the trendline support. So a bounce small or big is very much possible. We will trade this bounce if we get a bullish reversal price action in 15 Min TF. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 18595 then we will long for the target of 18685 and 18780. For selling we need a 15 Min candle close below 18555. T- 18485 and 18400. 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 Jun 2023NIFTY Intraday Trade Setup For 09 Jun 2023 Buy-Above 18725 Sl- 18775 T- 18810 18895 Sell-Below 18615 Sl-18665 T- 18523 18450 NIFTY has closed on a bearish note with almost 0.50% cut today. It opened flat and buy triggered above 18740 and gave small momentum in upside till 18777 then fell sharply which hit sl in long side. Later 10 o'clock range broke below 18723 and gave a one way move till 18616 which was more than 100 points gain. Bearishness may continue below today's low- 18615. Also we have to be alert for reversal if there a reversal price structure in 5/15 Min TF. Important resistance is 18725. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 18725 then we will long for the target of 18810 and 18895. For selling we need a 15 min candle close below 18615. T- 18523 and 18450. 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 - 8th June 2023Dear All, After lots of Doji formation, we have now finally observed a bullish candle on the chart of Nifty. So, as of now it seems that we are very near to witnessing a new high. Yes, it’s a crucial stage for every Trader & Investor. So, apart from being happy we also have to be a little cautious here. As at a New High, it somehow becomes the matter of a Psychological Effect, wherein even a selling pressure can be observed in such a situation. Although, the best part is that we have already been stating to keep Rebalancing your Portfolio since 1-2 weeks, because it is good to do so at any major event like New High, Budget etc Overall, as of now, be cautious, keep rebalancing your portfolio and keep following the Cherry Picking strategy with an immediate stop loss of 18400 and 18200. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya