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Niftyindia

Nifty trade setup for 31-07-2023Nifty important intraday levels to watch for 31-07-2023 #Support: 19560 Short if candle closes below 19560. #resistance: 19770 Long if candle closes above 19770. #Targets on downside after break of support. Target 1= 19470 Target 2= 19380 #Targets on upside after break of resistance. Target 1= 19760 Target 2= 19850 Target 3= 19970 Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital. Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
NSE:NIFTY
by InvestyourAsset
Nifty weekly analysis for 31/07/23.After 4 weeks in green market has given a halt candle near the high forming a red doji candle. Even on the daily charts, market has formed a doji, on the lower side of the range in which it was trading. The monthly expiry was a good one and the trend remain on the sell side whole day. Nifty is trading around 20 ema (daily) and if it breaches the levels it can test 19500 levels. On the hourly charts, market is trading below the 20 ema and can go to test the 200 ema, if it start trading below 19500. Support :- 19565, 19500, 19370 Resistance :- 19650, 19730 The market supports are nearby and it can reverse from any of the support. Try to keep targets small on the down side. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
26 Jul ’23 Post Mortem on Nifty | A trend reversal in store?Today’s gap up opening and the race towards 19825 took out my stop loss. From last Friday we were short on Nifty, this stop loss hit proves to me that the bears are short lived in our market. Nifty50 went up 147pts ~ 0.75% from the prev. close enough to take out the 19800 levels where I had placed the protective stop. The main reason for the rally was the boost in RIL, ITC and LT. Until the high of the day was formed - NiftyIT was also supporting it. And at 11.15 NiftyIT started reversing whereas banknifty which was starting to fall reversed. The contra move in NiftyIT and BankNifty was like a script from a tamil movie (perfectly musical). The final effect was Nifty50 was able to hold its ground. At around 11.30, I was not able to agree with the technicals and took a smaller position - bought 19600 PE @ 10.5. Now I have 2 opposite positions of long and short on Nifty50 carried forward to the expiry tomorrow. Most likely the PE position will expire worthless or I may have to convert it into a ratio spread. The negation of the short-term bearish trend is visible + the island formation due to the gap up. If we get a mega gap down tomorrow, i.e. a quick fall below the 19650 levels - I will be more inclined to ride on the bear wave and consider today’s price action as a fake. ... Please comment with your thoughts, opinion or bias, I will respond with mine!
NSE:NIFTYLong
by viswaram
Nifty analysis for 27/07/23 (monthly expiry).Nifty traded inside the first hour candle and closed 100 points higher forming a confusion candle charts. The market are consolidating and creating confusion. On the hourly charts, started trading above the 20 ema after the gap up and took support from the levels. Nifty traded in 70 points range after the first hour candle. Initially, both the indices were travelling in different direction and nifty leading but finally banknifty also followed the index and closed above 46k levels. On 15 minutes chart, there was a constant rejection from 19825 levels and closed below the 20 ema after the fall of the final hour. Support :- 19760, 19700, 19640 Resistance :- 19825, 91870 ,19990 Nifty has consolidated and can give nice trend on the monthly expiry. Watch for the movement as option premium can give nice movement too. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Nifty daily analysis for 26/07/23.Nifty has traded inside a 100 points range and closed almost flat. A red candle has been formed after a gap up opening. On the hourly charts, market traded below the 20 ema. Today it remained in a range and made difficult for the option buyers. A constant rejection from 19700 level was faced by the buyer and market was unable to cross and sustain above it. On 15 minutes charts, both the moving averages are close enough and a bearish moving averages cross over has been formed. RSI divergence is there showing some weakness in strength on the top. Support :- 19635, 19560 Resistance :- 19700, 19760 The market has formed resistances near by and chance of retesting lower levels are high as per the RSI divergence. Wait for the price action near the levels before entering the markets.
NSE:NIFTY
by Mambotrade
Nifty daily analysis for 25/07/23.Nifty on the daily charts have formed a red candle losing 72 points. The market has closed below 19700 and on the hourly charts, after taking multiple rejection from 20 ema, it closed below the levels. It has been trading in a parallel falling channel. It also gave a fake out but couldn't sustain above it. On the hourly charts, evening star pattern formation during the closing hour shows some negativity. Another flag and pole pattern formation can be there and after a consolidation phase, there are chances of a break out or break down. On 15 minute time frame, market has closed between both the moving averages. Support :- 19640, 19560 Resistance :- 19740-60, 19850 Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
3
Nifty weekly expiry analysis 20/07/23.Nifty is forming new highs daily and today it has closed near the high as well. It has formed a dragon fly doji and is supported by other index too. There are good chances of hitting 20k levels in july series. On the hourly charts, it is trading in a rising parallel channel pattern. Tomorrow is weekly expiry and breakout/breakdown can give good targets. The markets are in the bull mode and even the global markets are supporting it. On 15 minutes chart, it is respecting the 20 ema. After breaking the level it recovered took support from it again and during the last hour gave a nice upside movement. Support :- 19760, 19650 Resistance :- 19875(fib level) Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Nifty daily analysis for 11/07/23.Nifty today consolidated and remained in a 100 points range. The market tested the lower levels of 19330 and recovered from the levels. Market on the daily time frame, has formed an inside candle and has closed below the 20 ema on the hourly charts. It is holding and recovering from the lower levels which signal a positive move in the coming days. On 15 minute charts, market constantly traded around the 20 ema and ruined the option buyers. Support :- 19330, 19240 Resistance :- 19430, 19500 Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Nifty weekly analysis for 10/07/23.Nifty has been holding the highs for long. But during the last trading session market has given a bearish engulfing candle and formed a gravestone doji on the weekly time frame. The market has given a red candle and closed 165 points lower. Profit booking and retest was required and market has retraced to 23.6% fibonacci levels. On the hourly charts, the market has started trading below the 20 ema and closed below the levels. During the last hour, market has retested the moving average and the zone. Candle formed on the daily and weekly charts show some short term negative move and the global markets are also in the same mood. Many gaps are pending as the market has travelled gap up after gap up. Support :- 19315, 19240, 19185 Resistance :- 19420, 19500 The supports are near by and market can reverse from it. Take small targets in the bearish trade or opt for partial profit booking. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
NIFTY: Wave Projection Suggests A New High But…Timeframe: Daily Nifty has accomplished its double three correction (w) - (x) - (y). Price had risen rapidly after the completion of wave c of wave (y). According to the wave principle, Nifty can only confirm its trend after breaking wave (x) of a complex correction. So, the price must have sustained above 18111 . It is also a higher low, and the price may face resistance from this level.If the price fails to sustain above 18111 , nifty can start a correction up to 38.2]% [/b retracement of the wave. The length of the impulsive wave 3 is 2.618% of wave B. Conclusion: Upward move is limited to 18111 , and the price has to confirm the Bullish momentum by sustaining above this level. Failure may start 4th wave correction. I will update further information.
NSE:NIFTY
by forextidings
19
Nifty daily analysis for 01/06/22 (weekly expiry).Nifty has fallen in the first half of the trading session and tried to recover some points in the second half. Market on the daily chart has given a dragon fly doji and closed above 18500 levels. The market on the hourly time frame, has formed doji after doji, showing upper wick rejection. The market has started trading below the 20 ema and continuously faced rejection from the moving average. There was a gap filling trade and nifty has filled the gap completely and took support around the same level. Support :- 18490, 18450 Resistance :- 18580, 18690 Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Nifty daily analysis for 31/05/23.For the last two trading session, nifty has been trading in a similar range and has formed dojis. Though banknifty has been trading new ATH, nifty is unable to capture the previous high. On the hourly time frame, the market has traded inside the first candle and is taking support around 18600 levels. If the markets break down, gap fill trade can be taken. On the upper side there is a resistance zone and its break out can be traded with a target of previous high. On 15 minute chart, the market is jittery and is trading around the 20 ema. Support :- 18580, 18450 Resistance :- 18690, 18870 Wait for the price action near the levels before entering the markets.
NSE:NIFTY
by Mambotrade
Nifty 50 view for next week 29/05/23.Nifty on the weekly time frame has given a nice bullish candle and has closed above the resistance zone. It has consolidated for 2 week in the range and has given a break out. The market has formed a good bullish pattern on the daily time frame as it has taken a support from the 61.8 fib level. The market has been taking support from the 20 ema. On the hourly chart, market has remained bullish in the last trading session. Bullish entry can be initiated if the market sustains above 18450 levels. Support :- 18450, 18280, 18090 Resistance :- 18680-700, 18870 Positional and swing trades can be initiated once the market retest the resistance zone. Wait for the price action near the levels before entering the levels.
NSE:NIFTY
by Mambotrade