Simple Trade Setup | NIFTY | 07-04-2022 [INTRADAY]NSE:NIFTY
Observations:
1) On 15min time frame, we can see a support trendline.
Please refer below chart : 15 min time frame.
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Trade Setup for 07-04-2022
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
Niftyindia
#NIFTY Intraday Support and Resistance Levels - 06/04/2022Nifty will open slightly gap down in today's session. After opening expected downside upto 17800 level. For today session this level will act as an important support for nifty. Any major downside only possible below this support level. Strong upside rally possible if nifty starts trading and sustain above 17950.
Nifty - Mid-term OutlookDate : 5-Apr-2022
Nifty has corrected 96 points (0.53%) on 5-Apr-2022 and closed at 17957.40. Currently, Nifty is in its primary down trend and on the verge of breaking out from its primary down trend. If Nifty is able to break out from its primary down trend as well as the immediate resistance zone placed at 18365-18602, then we may see it reach to new high of 19850 in mid term. On the other way, if it is not able to break out then we may see the down trend continues and the supports levels to watch out would be 16777, 15910 and 15513. All the levels are highlighted in chart.
However, the daily technical chart is supporting the break out theory and indicating the continuation of current rally. 7D EMA is above the 13D and 26D EMA. RSI is above 65 and is showing positive convergence. MACD cross over is already done and now its showing good strength.
Disclaimer: I am not a SEBI registered analyst/consultant. I am not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market.
Nifty-06/04/2022-LevelsHello Traders,
Nifty-06/04/2022-Levels
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If Market Opens as a-
GAP-UP: Support of IMP (BUY) – Rejection of IMP (SELL)
FLAT: Support of IMP (BUY) – Rejection of PDL (SELL)
GAP-DOWN: Support of S@1 (BUY) – Rejection of PDL (SELL)
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Happy Learning and Trading
Rules to fallow...
1) Trade with Strict Stop Loss.
2) Trade with Small Quantity.
3) Take entries based on Support & Resistance Levels.
Please take the trade according to the levels marked, with Risk-Reward.
This is not a Buy or Sell recommendation to anyone.
Take entries after your own analysis.
This is for education purpose and a helping hand to learn trading in market.
NOTE: Trade with Strict Stop Loss. It may or may not hit all levels. So one can book profit / loss at respective level considering how price action works near that level.
I hope you all like my analysis. Follow me to get regular updates.
Please do share your thoughts in comment section.
Please Hit a LIKE , it motivates me to do analysis and do share with your trading friends.
SHORT FORM &FULL FORM
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PDH-> Previous Day High
PDL-> Previous Day Low
PWH-> Previous Week High
PWO-> Previous Week Open
PWC-> Previous Week Close
PWL-> Previous Week Low
IMP -> Important
R@1, R@2,R@3... ->Resistance-Zones
S@1, S@2,S@3... ->Support-Zones
M_S -> Major Support
S_H -> Swing-High
S_L -> Swing-Low
D_T -> Double Top
D_B -> Double Bottom
T_T -> Triple Top
T_B -> Triple Bottom
TF -> Time Frame
BO -> Break-Out
RR -> Risk-Reward
SL -> Stop-Loss
GAP -> The area b/w Previous Day Close and Today Open
Blue Color Text(S@*,R@*)-> Act as Major Support or Resistance-Zones(Be Alert, Chances to Market take Reversals )
Nifty view for 06/04/22.Nifty50 is still trading in the zone and as expected consolidated whole day.
Nifty is still in the zone and seems stronger than bank nifty but has closed under 18000.
If nifty retraces it can cover the gap.
Support:- 17900, 17800.
Resistance :- 18100, 18319
Wait for the price action near the levels for deciding the trend on the smaller time frame.
#NIFTY Intraday Support and Resistance Levels - 05/04/2022Gap up opening in nifty. Expected opening above 18100 level. After opening if it's starts trading above 18130 level then there will be further bullish rally upto 18350+ level possible in today's session. Any major downside only possible below 18080 level.
NIFTY SPOT CHART ELLIOT WAVE COUNTSNIFTY spot chart is showing good impulsive moves, This week's price actions are adding good confidence to the view that a new upward trend has started now.
We should continue higher as long as support near 17003 holds it can head towards 18170 next, and break above 18170 can move towards more north direction like 18761 and more,
Wave counts are suggesting same and gaining confidence along with MACD supporting as same, also RK's Magic indicator is also suggesting to go long,
One more thing is markable that price is closed above 20Week average for the first time since January.
On the way down major support is pegged at 17003 which is recent weekly swing low. Overall looking bullish.
Overall wave structure on weekly chart
current scenario on daily chart
macd positive crossover in weekly chart
macd positive in daily chart
price is closed above 20Week average for the first time since January
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...!
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
NIFTY Top Of Expanding Triangle- Trade Plan And Important LevelsAs discussed in the last video, NIFTY crossed and gapped up above the levels of 17,800 .
After a 700 point rally without a pause , a sideways to down consolidation can be expected . Currently the price is also stalling near the top of the expanding triangle. For the downside , the low of today i.e. 17,775 becomes crucial support for selling PE and if the market breaks above the high of today , then you can expect it to test the next resistance area of 18,350.
Follow @piyushrawtani for more!
Cheers
Nifty Trading Plan & Levels For TomorrowNIFTY showing signs of bullish momentum after a good breakout on Friday's last hour , 15,500 remains a crucial SL level for the long trades in NIFTY.
Expected levels to be tested in NIFTY will be 17,800-850 range . So we can create a long position on pullbacks with the SL and Targets mentioned .
Follow @piyushrawtani for trading ideas daily
=)
#NIFTY Intraday Support and Resistance Levels - 01/04/2022Today will be slightly gap down opening expected in nifty. After opening if it's starts trading below 17440 level then expected further downside upto 17320 level. 17440-17550 will act as an consolidated zone for today's session. Strong upside rally only possible above 17550 level.
NIFTY spot chartChart says everything itself.
RK's Magic Signals
Divergences at its Best
RSI Breakouts and Breakdowns
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...!
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Nifty-30/03/2022-LevelsHello Traders,
Nifty-30/03/2022-Levels
-------------------------------
Happy Learning and Trading
Rules to fallow...
1) Trade with Strict Stop Loss.
2) Trade with Small Quantity.
3) Take entries based on Support & Resistance Levels.
Please take the trade according to the levels marked, with Risk-Reward.
This is not a Buy or Sell recommendation to anyone.
Take entries after your own analysis.
This is for education purpose and a helping hand to learn trading in market.
NOTE: Trade with Strict Stop Loss. It may or may not hit all levels. So one can book profit / loss at respective level considering how price action works near that level.
I hope you all like my analysis. Follow me to get regular updates.
Please do share your thoughts in comment section.
Please Hit a LIKE , it motivates me to do analysis and do share with your trading friends.
SHORT FORM &FULL FORM
-------------------------------
PDH-> Previous Day High
PDL-> Previous Day Low
PWH-> Previous Week High
PWO-> Previous Week Open
PWC-> Previous Week Close
PWL-> Previous Week Low
IMP -> Important
R@1, R@2,R@3... ->Resistance-Zones
S@1, S@2,S@3... ->Support-Zones
M_S -> Major Support
S_H -> Swing-High
S_L -> Swing-Low
D_T -> Double Top
D_B -> Double Bottom
T_T -> Triple Top
T_B -> Triple Bottom
TF -> Time Frame
BO -> Break-Out
RR -> Risk-Reward
SL -> Stop-Loss
GAP -> The area b/w Previous Day Close and Today Open
Blue Color Text(S@*,R@*)-> Act as Major Support or Resistance-Zones( Be Alert, Chances to Market take Reversals )