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Niftyforecast

Morning Mantra, 16th August 2022Good Morning! It is being observed that currently, the index is facing a lot of Resistance at around the stated level of 17700. As a result of which, the index can take a little pull back here. Also because there are chances that this week can be a little dull for the bullish players. However, even if that happens, do not worry. Since, we are still with our words that the overall market sentiments seems to be positive, as of now. Moreover, on the positive note, lately there has been a significant buying from the FIIs side as well. In the Meanwhile, it is suggested to be stock specific, to go with the cherry picking strategy and to book partial profit as per your risk appetite, in the stocks that had been accumulated 2-3 Months back and are now generating substantial return. Nifty Levels 15270-15400-15580-15800 -16200-16350-16800-17200-17400 -17700-17900-18000-18350 Nifty’s Previous Day Closing - 17698.15 (39.15) Regards, Alok Daiya
NSE:NIFTYLong
by alokdaiya
NIFTY Intraday Trade Setup For 16 Aug 2022NIFTY Intraday Trade Setup For 16 Aug 2022 Buy-Above 17725 Sl- 17670 T-17800 17870 Sell-Below 17660 Sl-17710 T-17600 17550 NIFTY has closed mild positive on last Friday. Closing is near day high. Above Friday's high- 17725 we will head higher towards 17800 and 17870. We have enjoyed a very good rally from 15950 till 17700+. We may consolidate at higher levels or a pullback can be seen from 18000(+/- 100) levels. Also we are near the weekly trendline resistance which is valid from Oct 2022. We have been trailing our longs to previous day low (closing basis). Weakness will come when daily candle close below previous day low. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 17725, we will long for the target of 17800 and 17870. For selling we need a 15 Min candle close below 17660. Downside target will be 17600 and 17550. 15 Min candle close below 17595 will open more downside targets. 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
Morning Mantra, 12th August 2022Good Morning, Just as we had stated yesterday, similarly we did witness a gap up opening in Nifty, yesterday itself. Wherein, Nifty did manage to cross over above its stated Resistance level of 17700, but somehow couldn’t sustain above it on a closing basis. Moreover, along with the Index most of the stocks can be found near their respective Resistance levels, as of now. Which altogether is somehow indicating that a little profit booking can be witnessed. Which in turn will be healthy for the Market. Also, we have a long holiday weekend coming ahead. Therefore, keep following the Sell on Rise strategy to book profits in those stocks that had been accumulated during the last 2-3 Months are are now generating some return. Nifty Levels 15270-15400-15580-15800 -16200-16350-16800-17200-17400 -17700-17900-18000-18350 Nifty’s Previous Day Closing - 17659 (124.25) Regards, Alok Daiya
NSE:NIFTYLong
by alokdaiya
NIFTY Intraday Trade Setup For 12 Aug 2022NIFTY Intraday Trade Setup For 12 Aug 2022 Buy-Above 17720 Sl-17665 T-17790 17845 Sell-Below 17630 Sl-17685 T-17560 17500 NIFTY has closed with 0.7% gain today. It opened with a big gap up and showed weakness from the first candle. We planned to trade the 10 o'clock range in case of any big gap up/down. 10 o'clock range broke downside below 17668 and gave just 35 points gain. Coming to tomorrow's trade setup, if index opens flat and a 5 Min candle closes above above today's high- 17720 then we will long for the target of 17790-17800. Next upside target will near 17850. For selling we need a 5/15 Min candle close below 17630. Target will be 17560 and 17500. A big gap up above 17800 can trigger profit booking ahead of weekend. 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 2022Good Morning, The level of 17700 now becomes our next expected resistance level in Nifty. Besides, an upcoming long weekend in the Indian Market can somehow create a pressure on the stocks now. So, if in case there is any gap up opening, then we must use the opportunity to go for profit booking in the already accumulated stocks that are generating some return now. Moreover, we are still with our words that Nifty seems to be positive in the medium to long term, and that we can witness a New high by this Diwali. Therefore until then, stay stock specific and continue following the Cherry Picking & Sell on Rise strategy, as of now. Nifty Levels 15270-15400-15580-15800 -16200-16350-16800-17200-17400 -17700-17900-18000-18350 Nifty’s Previous Day Closing - 17534.75 (9.65) Regards, Alok Daiya
NSE:NIFTYLong
by alokdaiya
NIFTY Intraday Trade Setup For 11 Aug 2022NIFTY Intraday Trade Setup For 11 Aug 2022 Buy-Above 17565 Sl-17505 T-17625 17680 Sell-Below 17480 Sl-17540 T- 17405 17373 NIFTY has closed on a flat note and made a pause candle in daily TF. Its a hanging man in daily TF. This is a reversal cum pause candle. If the next daily candle closes below its low then we can expect some profit booking in the coming days. However bulls are on fire and they can pull NIFTY above its high too. In that case we will head higher with no surprise. Coming to tomorrow's trade setup, if index opens flat and a 5/15 Min candle close above today's high- 17565. We will long for the target of 17625 and 17680-17700. Always ride the long with trailing sl. For selling we need a 15 Min candle close below 17480. Shorting from this level is an aggressive trade. Safe traders should short below 17440. Target will be 17405, 17350-70. 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 2022Good Morning! Just as we had stated on the last trading day, about the necessity of Nifty crossing over above 17500. Fortunately, we did observe a beautiful breakout and a closing of above 17500 on a day basis in Nifty. Which was again, quite a good sign. Otherwise, if Nifty was unable to do so, then we were expecting to witness a pull back. But, as the market sentiments still seems to be positive and is indicating to show us a New High by this Diwali. So, with an immediate support of 16700 we will currently be suggesting 2 methodologies, that can be followed here. Firstly, Cherry Picking can be done for those stocks which still seems to be undervalued, and secondly, you can go with the Sell on Rise strategy for those stocks that had accumulated during the last 2-3 months and are now generating a good return. So keep investing and wish you a day of happy trading. Nifty Levels 15270-15400-15580-15800 -16200-16350-16800-17200-17400 -17700-17900-18000-18350 Nifty’s Previous Day Closing - 17525.10 (127.60) Regards, Alok Daiya
NSE:NIFTYLong
by alokdaiya
NIFTY Intraday Trade Setup For 10 Aug 2022NIFTY Intraday Trade Setup For 10 Aug 2022 Buy-Above 17550 Sl-17500 T- 17605 17675 Sell-Below 17485 Sl-17540 T-17400 17350 NIFTY has closed on a positive sentiment with 0.7% gain. It closed above an important resistance 17500. Above today's high we will again head higher. Last day we planned to buy above 17500 it has given almost 50 points gain today. It was more trendy than BANKNIFTY. Coming to tomorrow's trade setup, if index opens flat and a 5 Min candle closes above 17550 we will long for the target of 17605 and 16675. If momentum continues then hold 17800 with trailing sl as per last swing low in 5 Min TF. In case a 5 Min candle closes below 17485, we will short for the target of 17400. After a bounce if 17400 is breached then we will head towards 17350. 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
10
Morning Mantra, 8th August 2022Good Morning! A closing of above 17500 in Nifty, has now become very important, as the formation of a Hanging Man pattern on the chart has raised a concern. So, for now, we can expect to witness a pull back in Nifty, until we get to witness a closing of above the aforementioned level. In the meanwhile, Sell on Rise will be a good idea here, as per your risk appetite for the stocks that were accumulated during the last 2-3 Months. Besides, the level of 16700 will be an immediate support for Nifty in the near term. Nifty Levels 15270-15400-15580-15800 -16200-16350-16800-17200-17400 -17700-17900-18000-18350 Nifty’s Previous Day Closing - 17389.80 (7.80) Regards, Alok Daiya
NSE:NIFTY
by alokdaiya
NIFTY Trend Expectation for Next WeekNifty Daily Chart Analysis for 08-08-2022 to 12-08-2022 NSE:NIFTY As the trend is muted with rangebound markets since last 4 days its very hard to get proper direction unless market breaks some barriers on either side, so thought of giving a directional view for next 5 trading day s. Will update in-between trading days if need my attention. Now back to Chart : As we all are aware of recent rally in markets which was close to 2000+ points movement from bottom made in July. In the upward Journey Nifty has left critical gap open in between 16900-17000 which eventually needs to get filled very soon unless Nifty crosses and closes above 17550 levels. Point of Concern: while progressing in this upward journey there are multiple Daily, Weekly Fibonacci as well as Trendline Resistances which are & will be in force and may prevent Nifty from marching ahead without Gap Fill (this is my assumption as of now) . Open Gap also lies at very important Fibonacci Retracement level of 0.50 of last swing (marked in red path) which gives me reasonable confidence for downside as this will be a healthy correction for markets if it needs to rally without bubble. On the other hand RSI on Daily charts is flat, RSI is getting weaker on Hourly Charts since last few days which is also a sign of bearish undertone Trade Setup : I am of the view that unless Nifty Crosses and Closes above 17550 for at least 2 days its wise to go short or stay short as the Risk Reward is favorable for Short Sells. Better to catch some IN THE MONEY (ITM) Put Option and hold it . Day Trading is not advisable as correction if comes will be brutal. Do Comment , share and "LIKE" if you find this info valuable to use . Attached below few Related Ideas posted under my profile in recent time. Happy Hunting , Chintamani Disclaimer. I am not SEBI registered analyst. My studies are for educational & General purpose only. Please Consult your financial advisor if you have plans of trading or investing. You yourself hold sole responsibility of profits and your losses arising of above shared info
NSE:NIFTYShort
by Chintamoney
2
NIFTY Intraday Trade Setup For 08 Aug 2022NIFTY Intraday Trade Setup For 08 Aug 2022 Buy-Above 17500 Sl-17450 T-17580 17650 Sell-Below 17345 Sl-17400 T-17280 17215 NIFTY has closed flat on Friday and has formed an inside candle in daily TF. Next momentum will be seen above mother candle's high( 17500) and low(17150). Important resistance as of now is 17500 and 17200 being the support. If price sustains above and below these levels we can expect a directional move either side. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 17500 we will long for the target of 17580 and 17650. We will short below 17345 if a 15 Min candle closes below. Targets will be 17280 and 17215.Below 17200 we will hit 17150. 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, 5th August 2022Good Morning! A bearish pattern formation, named as Hanging Man on Nifty’s Day chart, is somehow indicating Today to be a profit booking Day. So, be a little cautious. Although profit booking at the current levels is quite natural. Besides, with the support level of 16700, the overall sentiments of the Market still seems to be quite positive. Also, as per our observation, from the past few days most of the stocks are at their respective resistance zone. Which altogether can also create a selling pressure on the Market for a very short term. Happy Investing! Nifty Levels 15270-15400-15580-15800 -16200-16350-16800-17200-17400 -17700-17900-18000-18350 Nifty’s Previous Day Closing - 17382 (-6.15) Regards, Alok Daiya
NSE:NIFTY
by alokdaiya