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Niftyintradaysetup

11 Sep ’23 Post Mortem on Nifty - @20000 a day to remember 🎇🎇Nifty Analysis Recap from yesterday: For Monday I wish to change the status from bullish to 50% bullish & 50% neutral — that’s because I would like to wait for this news flow to get priced in. The euphoria and FOMO alone should drive Nifty50 to new ATHs, however I do not wish to get into new bullish positions till then. The 50% neutral, 50% bullish stance was taken to give some time for the traders to digest the I-CRR news. Seems like nobody was interested to wait. As soon as we opened - the intention to go up was very clear - how so? Just look at the OTM put prices. All the signs of aggressive put writing with near ATM credit and far OTM debit. Since this pattern was holding throughout the day, I personally went ahead with some long positions. In today’s price action, there were no reversal or pullback attempts and all the sectors were in green - a rarity usually. And as per DOW theory - if all the sectors are in green - its a true indicator of trend. On the 1hr TF - just notice the pace at which Nifty50 regained the lost points. It took 42 days and 1hr for Nifty to fall from 19991 to 19223 and just 10 days & 6 hrs to regain it. Which also indicates its a structural bull market. For tomorrow I wish to continue with the bullish stance, although I would like to take some safety net via long PUTS as we have the CPI (Inflation) data coming up this week.
NSE:NIFTYLong
by viswaram
08 Sep ’23 Post Mortem on Nifty + discontinuation of I-CRR newsNifty Analysis Recap from yesterday “On the 1hr TF the W pattern worked out quite good. The next 2 resistance points will be 19786 and 19852 if we are continuing the breakout rally. If we were to fall the first support will be the resistance we just broke i.e. 19678 followed by 19581. For tomorrow I wish to continue my bullish stance unless the first support of 19678 is taken out in the first 2 hours.” Let the chart not deceive you, we really went up 142pts ~ 0.72% from the low to the high and today’s low was still above yesterday’s close. Since the chart was set to “Auto” resolution on “Log” scale - the up move may not look that much. What an impressive rally today, I assume most of the analysts would have switched their bias to the long side after yesterday’s show. Today’s outperformance was quite predictable still the near ATM call options had a humongous price swing. Option premiums usually rise when the uncertainty goes up - and seeing the rally today the price jumps in 20100, 20200, 20300 & 20500 were more than unusual. 20100 CE which closed for 5.45 yesterday opened at 6.5 and rallied upto 13.5 ~ 248% before closing at 9.35. We took out the first resistance point by 11.15 today and touched the 2nd resistance point by 14.15 to only close lower. The 2 resistance points are highlighted in orange horizontal lines. I was feeling quite carried away that the technical analysis was working exactly as in the script. Nifty falling in a bearish channel from 21st July and then breaking out from 1st Sep. Just today I realized the real reason behind this is the I-CRR news flow - read here. Remember the fall started when the RBI Governor announced the 10% increment in CRR in his last MPC address. Now there is news that 75% of it might be removed immediately. This was the reason the banks started rallying all of a sudden from 2pm on 6th Sep. Do you recollect the article I wrote about HDFCBK being the lone wolf fighting for banknifty? Now you might have understood how a 41% weightage on BankNifty can make a lot of difference. For Monday I wish to change the status from bullish to 50% bullish & 50% neutral - that's because I would like to wait for this news flow to get priced in. The euphoria and FOMO alone should drive Nifty50 to new ATHs, however I do not wish to get into new bullish positions till then.
NSE:NIFTYLong
by viswaram
07 Sep ’23 Post Mortem on Nifty Super rally in last 90 mtsNifty Weekly Analysis You may not believe that Nifty has added 444pts ~ 2.31% between the last expiry and today. The bulk of the moves came on 1st Sep and then today. On the weekly timeframe Nifty just broke out from the bullish flag consolidation formation signalling further fire power ahead. Will the global markets play spoilsport is the only question here. Nifty Today Analysis Recap from yesterday “Also the 14.15 green candle negates the 5 prior red candles creating a bullish ambience. For tomorrow, I wish to continue the bullish stance and the first target in sight would be to take out the next swing level of 19678.” It was not a surprise that when I posted the bullish view on tradingview minds this morning, I got a -4 downvote. Almost all the analysts were looking for bearish opportunities on Nifty and BankNifty and the opening moves would have given the illusion of downfall. We fell 71pts ~ 0.36% by 09.35 enough for most to go short and that too on expiry day. What happened after that was a reclamation of 19600 levels by Nifty, we even hit a new swing high of 19642 at 11.15. And honestly I thought thats it - we will consolidate sideways and end the day around those levels. I was totally surprised when Nifty rallied 144pts ~ 0.74% between 11.40 to 14.35. In fact I had 2 bullish CE long positions that I exited prematurely at a small profit. If I knew Nifty had more firepower to take out the 19700 today - I would have hung on to it & made a fortune 🙂 From a weekly expiry standpoint - the options premium near ATM and far OTM were real pathetic. Something that I realized today is that when we had BankNifty & Nifty expiring together - we could jump in and out on strikes that gave max bang for bucks. Since BN is now set to expire on Wednesdays, there are no more arbitrage opportunities. If the conditions like today persist in the foreseeable future - then option selling wont be able to attract a fresh crowd. On the 1hr TF the W pattern worked out quite good. The next 2 resistance points will be 19786 and 19852 if we are continuing the breakout rally. If we were to fall the first support will be the resistance we just broke i.e. 19678 followed by 19581. For tomorrow I wish to continue my bullish stance unless the first support of 19678 is taken out in the first 2 hours.
NSE:NIFTYLong
by viswaram
06 Sep ’23 Post Mortem on Nifty Unusual spike at 3pmNifty Analysis Recap from yesterday: For tomorrow I continue to maintain the bullish stance unless 19450 is broken. Nifty opened inline today and held its ground till 09.40 after which it started falling. The fall was not quick or scary but gradual and steady. We dropped 112pts ~ 0.58% by 13.35 and went down till 19491 from where we got a massive reversal. The level from which Nifty took support could be rounded off to 19500. Any further weakness would have triggered another round of selling and the breakout momentum would have been shot in the arm. Luckily we had a massive reversal, quite honestly I did not expect it to be this intense. Nifty gained back 145pts ~ 0.75% to close above the swing high at 19618. This is in line with the bullish technical analysis. If you look at the 1hr TF the W pattern still holds strong. Also the 14.15 green candle negates the 5 prior red candles creating a bullish ambience. For tomorrow, I wish to continue the bullish stance and the first target in sight would be to take out the next swing level of 19678. Unless any misadventures from SPX and NDQ overnight - we should be cruising upwards. Protective stop loss will be 19490 or below.
NSE:NIFTYLong
by viswaram
05 Sep ’23 Post Mortem on Nifty - Momentum not enoughNifty Analysis Recap from yesterday: I wish to go with a full bullish stance tomorrow wherein 19584 has to be taken out in the first 2 hours and the final close should be above 19600 . Although the price action looked as a continuation from yesterday - it did not have enough firepower to break the recent swing high of 19584 nor cross the 19600 threshold. NiftyIT again provided good support to Nifty today along with Pharma, FMCG and Energy. Positionally Nifty50 is in good shape to go higher, but for that this momentum wont be enough. During a strong uptrend, all the sub sectors also have to be in green. On the 1hr TF, Nifty has made a W pattern which indicates bullishness. As long as the 19450 level is intact this pattern will remain bullish. The moment Nifty breaks 19450 and goes near 19310 the W pattern will change shape and become like an M pattern. We also would like to wait and watch how the first banknifty expiry on wednesdays will impact the trajectory. For tomorrow I continue to maintain the bullish stance unless 19450 is broken.
NSE:NIFTYLong
by viswaram
#nifty"Good morning! As of September 5th, the global market sentiment is neutral to slightly negative (based on the Dow Jones alone). The market trend is moderately bullish, and the market might open with a neutral to slight gap-down. After that, if the market declines, it will reach a demand zone. Structurally, it's a major demand zone, so once the market reaches there, we can expect a pullback. Alternatively, if it breaks the demand zone, then the correction is likely to continue. On the other hand, if the initial market takes a sharp pullback, then we can expect a range-bound market. Only if it breaks the major supply zone will it turn into a bullish continuation."
NSE:NIFTY
by Manickamtraders
FASP levels for Nifty 05/09/2023The FASP for Nifty is listed for 05-09-2023. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:NIFTY
by SathishChandrasekaran
04 Sep ’23 Post Mortem on Nifty | almost breaking out, bullishSeeing the price action on Friday, we had changed the status from bearish to neutral. But by seeing the strength today, I wish to go full bullish for tomorrow. To start with we had a gap-up opening of 103pts ~ 0.53% and then a quick fall to yesterday’s close. Luckily Nifty took support right there and then started moving upwards. The upward move from 10.40 to close came with minimal pull back or retracement - showing a clear path for further bull run. The real thrust came from the NiftyIT index which had a flattish move till 10.45 and then a surge of 2.18% ~ 687pts from there till close. This is the reason why Nifty outperformed BankNifty today. On the 1hr TF, you can see the encircled regions, where we tried to break out from the bearish channel only to be pulled back to it later. Today’s price action has created an island-like formation and somehow avoided the fall. As it stands its a bullish break-away signal and if we dont make a down day tomorrow & wednesday then we can confirm further uplift due to the sentiment reversal. I wish to go with a full bullish stance tomorrow wherein 19584 has to be taken out in the first 2 hours and the final close should be above 19600. On the other hand, If we start falling back to the 19300 zone - the bears will come back super strong.
NSE:NIFTYLong
by viswaram
Simple Trade Setup | NIFTY | 05-09-2023 [INTRADAY]NSE:NIFTY Trade Setup for 05-09-2023 Most of all the levels and zones remains same as per previous. 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.
NSE:NIFTY
by Trading_hawk
Nifty Intraday TradeSetup for 04-09-2023 nifty important levels to watch are as follows #Support: 19385 Sell below: 19385 only on 15 minute candle closure below the level. Scalpers may short below 19420 on candle closing confirmation. Target 1: 19320 Target 2: 19250 #Resistance: 19460 Buy Above: 19460 only on 15 minute candle closure Above the level. Target 1: 19510 Target 2: 19580 #Demand Zone: 19250-19300 may act as a immediate buying zone, and price may bounce from the region marked in green on the chart. #Supply Zone: 19435-19450 may act as an immediate selling zone, and price may reject from the region marked in red on the chart. #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"Good morning! As of September 4th, the global market sentiment is neutral to slightly positive (based on the Dow Jones alone). The market trend is moderately bullish, and the market might open with a neutral to slight gap-up. After that, if the market consolidates or breaks the immediate resistance, then we can expect a rally continuation. Alternatively, if it rejects there, then we can expect a correction, but that should break the Fibonacci level of 38%. I mentioned only the gap-up variation; however, if the market takes correction without breaking yesterday's high, then we could expect a correction ranging from 38% to 50% based on the structure. This is an indication of pullback continuation. Alternatively, if the correction breaks the Fibonacci level of 50%, then we can expect correction continuation with minor pullbacks."
NSE:NIFTY
by Manickamtraders
FASP levels for Nifty 04/09/2023The FASP for Nifty is listed for 04-09-2023. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:NIFTY
by SathishChandrasekaran
#nifty"Good morning! As of September 1st, the global market sentiment is slightly negative (based on the Dow Jones alone). The market trend is bearish, and the market might open with a neutral to slightly lower gap. In my personal opinion, the market might enter into a range from yesterday's low to the Fib level of 38%. Therefore, we can anticipate a directional move after the range breaks. However, if it breaches yesterday's low, it will likely reach the next support level immediately."
NSE:NIFTY
by Manickamtraders