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Niftyanalysis

Morning Mantra - 26th April 2023Dear All, So finally yesterday, Nifty had touched the level of 17800 . However, being unable to sustain over the same, it failed to give us a closing of above the stated level, and ultimately we got to witness a closing of 17769 approx. Besides that, we had also witnessed a selling pressure in many of the stocks, yesterday. Well Just as we had already stated in our Monday’s Morning Mantra update , regarding our expectation of this week being crucial . Similarly, the presence of the Doji formation on the chart of Nifty is somehow indicating the probability of witnessing a reversal in the Market , as of now. So be cautious! In the meanwhile, the aggressive players can continue to consider the level of 17300 as the level of stop loss. While the conservative players will still have to wait in order to witness a beautiful and a strong closing of above 17800. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTY
by alokdaiya
NIFTY Intraday Trade Setup For 26 Apr 2023NIFTY Intraday Trade Setup For 26 Apr 2023 Buy-Above 17810 Sl-17760 T- 17910 18025 Sell-Below 17745 Sl-17795 T- 17670 17610 NIFTY has closed with a slight positive gain today. It has formed a spinning top candle which is a sign of indecision. Market is still in consolidation mode and waiting for some trigger on chart. Today buy triggered above 17755 and gave a move till 17807 which was almost 1:1. It is likely to show good upside momentum above 17810. If 17710 is sustained in the downside then we can slide till some extent. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 17810 then we will long for the target of 17910 and 18025. For selling we need a 15 Min candle close below 17745. T- 17670 and 17610. 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 25 Apr 2023NIFTY Intraday Trade Setup For 25 Apr 2023 Buy-Above 17755 Sl-17705 T-17832 17910 Sell-Below 17690 Sl-17940 T- 17610 17550 NIFTY has closed on a bullish sentiment with 0.68% gain today . It opened with a decent gap up and sold off right after opening. Buy triggered 17665 after 12:45 and gave a non stop rally till 17554. On weekend we discussed that index can take any direction from last week's close. We planned a short below 17550 which was not tested. We also discussed that above 17665 if sustained we can start a fresh impulse and reason behind the parabolic up move was this - 'fresh impulse'. Bullishness likely to continue above today's high. Major downside structure opens only below 17550. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 17755 then we will long for the target of 17832 and 17910. For selling we need a 15 Min candle close below 17690. T- 17610 and 17555. 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 - 24th April 2023Dear All, It will somehow be a very crucial week for us, as we can observe a bearish engulfing pattern on the weekly chart of Nifty. Also, a strong Resistance is being faced at the level of 17800 . So, as of now we have two sides, i.e., to consider the level of 17300 as a level of support and the other being, to enter the Market after witnessing a weekly closing of above 17800, with more confidence and more positive volume. Still we are with our words, that the aggressive market participants can keep following the Cherry Picking strategy with the stop loss of 17300 , and the conservative participants can wait for a breakout of 17800 level, for any fresh buying. Regards , Alok Daiya SEBI Registered Research Analyst
NSE:NIFTY
by alokdaiya
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