Get started

Niftyanalysis

NIFTY Intraday Trade Setup For 24 Apr 2023NIFTY Intraday Trade Setup For 24 Apr 2023 Buy-Above 17665 Sl-17615 T- 17790 17910 Sell-Below 17550 Sl-17600 T- 17450 17370 NIFTY closed on a bearish sentiment last week with 1% cut. On Friday it closed absolutely flat. Last week it was clearly said that a pullback is very much possible and with no surprise we witnessed more around 1.5% fall this week. Moreover it was sideways on close to close basis the last 4 sessions. It has formed a descending triangle in hourly TF, its base line is 17550. Breakdown of this will extend the down move near 17320-40. However the last candle is a small pinbar. Above 17685 if sustained then we may start an impulse. Let market decide which side it sustains. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 17665 then we will long for the target of 17790 and 17910. For selling we need a 15 Min candle close below 17550. T- 17450 and 17370. 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 April 2023Dear All, Yesterday we had seen the effect of the Hammer pattern, as we had observed a beautiful start in the Market. But unfortunately since it was a day of weekly settlement , we had to witness a roller coaster day. Well, this fight between the demand and supply has created a kind of Doji pattern on the chart of Nifty. Besides, as today is the last trading day of this week, so we have to be a little cautious. As, even yesterday there was no clear indication from the Index, regarding its next move. Therefore, once again the level of 17800 will play a crucial role as a Resistance and 17300 will remain to be a level of strong support. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTY
by alokdaiya
NIFTY Intraday Trade Setup For 21 Apr 2023NIFTY Intraday Trade Setup For 21 Apr 2023 Buy-Above 17685 Sl-17635 T- 17785 17885 Sell-Below 17570 Sl-17630 T- 17475 17375 NIFTY has closed once again a flat note today. It has once again on bears grip if we see it EOD. It was almost sideways and there is no surprise in that as on 18-19 Apr trade setup it was updated that it has entered contraction phase. For 3 days it is hovering at the same level. It has formed an descending triangle pattern in hourly TF. Base level is 17570, breakdown will initiate the down move. While 17685 is important for upside in case support is not broken. Coming to Friday's trade setup, if index opens flat and 15 Min candle closes above 17685 then we will long for the target of 17785 and 17885. For selling we need a 15 Min candle close below 17570. T- 17475 and 17375. 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 April 2023Dear All, So for back to back three trading days we have been observing 3 red candles on the day chart of Nifty. Which is somehow indicating the importance of the 17800 level as well as the importance of the bearish reversal pattern, which was bearish engulfing . Furthermore, it is a weekly settlement day, today . And on a positive note, on the Day chart of Nifty, we can observe a b eautiful formation of Hammer , which is a bullish reversal pattern. So, yes a reversal can be seen in the Market for Today. However, since huge volatility can be expected here, so it will be suggested to avoid any fresh trade for the day. Wherein, instead of getting trapped , we can review our Portfolio and plan our strategy accordingly . Therefore, as of now, we are still waiting for the breakout of 17800 level. In the meanwhile 17300 will remain to be the level of stop loss. Since the Market is trading in between these levels , so, Patience will be the key here. Besides, Cherry picking strategy will remain to be a good idea, for now. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
NIFTY Intraday Trade Setup For 20 Apr 2023NIFTY Intraday Trade Setup For 20 Apr 2023 Buy-Above 17670 Sl-17620 T-17775 17865 Sell-Below 17570 Sl-17620 T- 17497 17425 NIFTY has closed on a slight bearish sentiment today with a minor cut of 0.23%. Yesterday it was clearly told that index has shown sign of bearishness and their grip in market. It will last when we will get a good green close in daily TF. Last day the 2 observations were shared that has started the pullback/down move. Today also in nut shell it was bearish. While nothing triggered as per trade setup today. This happened as it trading in only 87 points range throughout day. It has been updated we are in contraction mode. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 17670 then we will long for the target of 17775 and 17865-75. For selling we need a 15 Min candle close below 17570. T- 17497 and 17425. 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 Apr 2023NIFTY Intraday Trade Setup For 19 Apr 2023 Buy-Above 17710 Sl-17660 T- 17801 17877 Sell-Below 17570 Sl-17620 T-17497 17425 NIFTY has closed a on slight bearish sentiment with 0.26% cut. It has formed an inside candle in daily TF which is a sign of contraction and is common after a big move. BTW it was bearish since the 1st candle. It was under bears control and its sentiment was sensed in two major places one when the 1st 15 Min candle's low was breached and 2nd when 17700 was made a resistance. This sentiment will be on till we make a bullish candle in daily TF. Also it can continue the bearish stance below 17610 if sustained properly. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 17710 then we will long for the target of 17801 and 17877. For selling we need a 15 Min candle close below 17570. T- 17497 and 17425. 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 - 18th April 2023Dear All, Yesterday was a day where we had once again witnessed the significance of 17800 as a crucial level of Resistance . Also, a huge supply pressure that was observed yesterday, is somehow indicating that the Market is currently in a rangebound of 16800-17800. Besides, a perfect bearish engulfing pattern on the day chart of Nifty, is somehow indicating that it will be very important to witness a perfect closing of above 17800 , for now. Moreover this time, the closing must be much stronger in terms of the level. So, for those who are very bullish on the Market and believe in the Indian growth story can follow the Cherry picking strategy with 17300 as a level of stop loss. Whereas, for those who are the New Entrants , can wait for a fresh and a solid breakout of 17800 level for fresh accumulation in the Market, as of now. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTY
by alokdaiya
NIFTY Intraday Trade Setup For 18 Apr 2023NIFTY Intraday Trade Setup For 18 Apr 2023 Buy-Above 17720 Sl-17670 T-17801 17875 Sell-Below 17650 Sl-17700 T- 17570 17497 NIFTY has closed on bearish sentiment with 0.618% cut . In the weekend it was told that we are going to give a pullback of the up move and with no surprise it was triggered today . As said 'pullback is the fuel for impulse' so after this pullback above 17865 the next impulsive leg will be triggered in the upside. While below today's low it can test 17425 and may form a base or Higher low in this region. Today sell triggered and more than 1:1 as the 1st Min candle was just too big although sell triggered. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 17720 then we will long for the target of 17801 and 17875. For selling we need a 15 Min candle close below 17650. T- 17570 and 17497. Ext T- 17425. 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 April 2023Dear All, So, it has been back to back two weeks now, that we have been witnessing the magic of the Morning Star formation on the weekly chart of Nifty. Moreover, we have observed a V-shaped recovery in the Index, i.e., from 17800 to 16800 and then from 16800 to 17800. Well as of now, the Index is trading at a very crucial level of 17800 . Wherein, at this particular, we can still keep following the Cherry picking strategy with the stop loss of 17300. Above 17800, our next level of target will be 18170 . In the meanwhile, be a little cautious due to the Result season and start rebalancing your portfolio . Happy Trading! Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
NIFTY Intraday Trade Setup For 17 Apr 2023NIFTY Intraday Trade Setup For 17 Apr 2023 Buy-Above 17845 Sl-17795 T- 17930 18035 Sell-Below 17729 Sl-17780 T- 17639 17550 NIFTY has closed on a flat note last day and formed a hanging man in daily TF. If the next immediate candle closes below its low then below that red candle's low it will initiate the pullback move of the sharp up move. Also we we have been trailing our longs with TSL as PDL (CB) which is also intact now. Also we have initiated a mid term bullish momentum just after we got a morning star in weekly TF which was near 0.58 FIB ration also. We have breached previous month's high also. So after a pullback we will start the next round of up move. As 'pullback is the fuel for the impulse'. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 17845 then we will long for the target of 17930 and 18035. For selling we need a 15 Min candle close below 17729. T- 17639 and 17550. 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
4
Morning Mantra - 13th April 2023Dear All, So finally yesterday, we had witnessed a wonderful rally of 1000 points in Nifty from the level of 16800 in the last 7-8 trading days. As Nifty had finally made a closing of above 17800, yesterday . However, yesterday’s closing is somehow indicating us to be a little cautious here, as we can observe a hanging man formation on the day chart of Nifty. Moreover, since today is the weekly settlement as well as the last trading day of this week and Nifty is currently trading at its crucial level of 17800 , so there are chances that some profit booking can be witnessed in the Market today. So, altogether there’s a need to be a little cautious for today. In the meanwhile, you can go for some portfolio rebalancing here and can follow the Cherry Picking strategy . Last but not the least, let’s keep our fingers crossed and stay hopeful for a weekly closing of above 17800 in Nifty, today. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
NIFTY Intraday Trade Setup For 13 Apr 2023NIFTY Intraday Trade Setup For 13 Apr 2023 Buy-Above 17826 Sl-17775 T-17890 18045 Sell-Below 17765 Sl-17815 T- 17690 17600 NIFTY has closed on a bullish note once again 0.5% gain. With no surprise today also buy triggered as per trade setup and hit our 1st target very smoothly. Trade gave more than 70 points gain (17750-17825). Till now index has safeguarded PDL (CB). We have been updating after 31 Mar that index's bullish momentum will be intact till we safeguard PDL (CB). Same has been happening. Sentimental halt or the pullback move will be initiated when we close below PDL and that candle's low is triggered the next day. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 17826 then we will long for the target of 17890 and 17955. For selling we need a 15 Min candle close below 17765. T- 17690 and 17600. 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 - 12th April 2023Dear All, We can once again see a Doji formation on the chart of Nifty, which is quite a good indicator of a fight between demand and supply. Indeed this fight is quite natural as we are currently at a very crucial level of Resistance of 17800 . Besides, it was since the level of 16800 that we have always been bullish on Nifty , for a bounce back towards the level of 17800 . Fortunately, the same has been supported by the Index itself . Moreover, above 17800 we will once again be very optimistic for the new highs in Nifty. Whereas for now, with the support level of 17300, continue following the Cherry picking strategy, along with some cautiousness as a vertical rise can trap you at any time, wherein a proper money management strategy is quite necessary at the current market situation. Regards , Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
Nifty Price action prediction Nifty Bank Analysis Wednesday 12 Nifty Price action prediction Nifty Bank Analysis Wednesday 12 Nifty spot current market price 177 it is near about resistance zone which is at 17799 also it is last month high March 23 candle high is 17799 Bank Nifty spot current market price 41350 near about resistance 1600 based on zigzag it is also train line break out above 41300 it is also closed above 41300 deck losing basis and in upside it can touch to 41600 to 41900 now the support zone is 41150 -41200 you will be invalid below 40950
NSE:NIFTY
by niftyZ
Morning Mantra - 11th April 2023Dear All, So finally we had witnessed a pause in this small rally of Nifty , yesterday. Wherein, after making a high of 17694 , we had observed a flat closing of around 17624 in Nifty. Which altogether is somehow indicating a supply pressure from the upper levels. Besides, we are expecting an up-move towards our target level of 17800 , which is a very strong Resistance for Nifty, as of now. Furthermore, we are still with our words to keep following the Cherry Picking Strategy for now, with the support of 17300. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
NIFTY Intraday Trade Setup For 11 Apr 2023NIFTY Intraday Trade Setup For 11 Apr 2023 Buy-Above 17695 Sl-17645 T-17772 17850 Sell-Below 17595 Sl-17645 T- 17500 17390 NIFTY has closed almost on a neutral note today. Till now it has been safeguarding PDL and bullish momentum is on track. A sentimental halt or reversal will be triggered only when we close below PDL. Today buy triggered as per trade setup and gave 1:1 profit (17640-17694+). A shooting star has formed in daily charts at 0.886 and trendline. A selling pressure or the pullback of the up move can be triggered below 17595. Also a mature price action is needed in hourly TF for this. Bullishness will continue above today's high. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 17695 then we will long for the target of 17772 and 17850. For selling we need a 15 Min candle close below 17595. T- 17500 and below this 17390. 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 April 2023Dear All, On observing the impact of the Morning Star formation on the weekly chart on the last week, we did witness a beautiful momentum of upto 17600 in the Market. Well as of now, we are very close to our target level of 17800 , and yes this time we need a beautiful breakout above this level. Wherein, a closing of above 17800 will give a strong momentum to the Market. Furthermore, the positive impact of RBI can also be visible in the Market in the coming days . So, with the stop loss of 17300 , continue following the Cherry picking strategy for now. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
NIFTY Intraday Trade Setup For 10 Apr 2023NIFTY Intraday Trade Setup For 10 Apr 2023 Buy- Above 17640 Sl-17590 T- 17735 17830 Sell- Below 17550 Sl-17600 T- 17465 17378 NIFTY has closed on bullish note with 0.24% and 1.38% last day and week respectively. Last week it formed morning star in week TF an its sentiment was on throughout the small week we had. All dips were bought into. Next hurdle lies near trendline resistance in daily TF. We will take trendline as resistance into consideration only when a candle closes above it and the next follow up candle is a red candle and further a proper M structure. Also bullish sentiment will be intact till we close above PDL (CB). In the coming week we may show some halt or a small pullback to fuel the further up move. Coming to Monday's trade setup, if index opens flat and a Min candle closes above 17640 then we will long for the target of 17735 and 17830. For selling we need a 15 Min candle close below 17550. T-17465 and 17378. 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 W-Pattern (Double Bottom)hi all, Nifty has made a wonderful W-Pattern we have 3 days holidays now... hope uptrend continues on monday or we may wee go back to test the neck line. Important Things 1. This is only for educational purposes only. 2. Never over trade. 3. Always keep Stop Loss. 4. Trade in limited quantity. 5. Taking a small loss is better than wiping up your capital. I hope you found this idea helpful. Please like and comment. Share with Your Friends. Keep Learning, Happy & Safe Trading
NSE:NIFTY
by NikhilChoudhary2023