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#Nifty directions and levels for September 26th.Good morning, friends! 🌞 Here are the market directions and levels for September 26th. Market Overview: There have been no significant changes in the global and local markets; both maintain a bullish bias. Today, the market is expected to open neutral to slightly positive, with SGX Nifty indicating a rise of around +60 points as of 8 AM. In the previous session, both Nifty and Bank Nifty continued consolidating. However, it seems a breakout may occur this session, as GIFT Nifty is suggesting a gap-up opening. If this gap-up sustains, we can expect the rally to continue. We had previously discussed that this could be a sub-wave 5th. So, if the breakout has a solid structure, the trend is likely to continue. Conversely, if the movement is gradual, the rise may be limited. We'll explain this further in the charts. Both Nifty and Bank Nifty reflect the same sentiment. Nifty Current View: The current view suggests that if the first move consolidates around the supply zone (MSZ), Nifty could reach a maximum of 26,146. Conversely, if the first move breaks the supply zone with solid momentum, the rally may continue, with some consolidation around 26,220. This is our first scenario. Alternate View: The alternate view suggests that if the market declines or faces rejection near the supply zone, the range may hold. However, the precise move is if the rejection breaks the 38% Fibonacci level of the minor swing, it could extend to a minimum of 78%, reaching 25,833.
NSE:NIFTY
by Manickamtraders
3
#Nifty directions and levels for September 25th.Good morning, friends! 🌞 Here are the market directions and levels for September 25th. Market Overview: There have been no significant changes in the global and local markets; both have maintained a bullish bias. Today, the market is expected to open neutrally to slightly negatively, with SGX Nifty suggesting a negative move of around -20 points as of 8 AM. Both Nifty and Bank Nifty consolidated yesterday, and structurally, this could continue today as well. However, if the market sustains the gap-down and solidly breaks the 38% Fibonacci level, the correction is likely to continue. On the other hand, if it does not break that level, the range will likely persist. I believe there is no need to explain it further, as we have seen the same sentiment over the past two days. However, if you need more clarification, please take a glance at the information below. Nifty Current View: If the market declines, it could experience a correction of 23% to 38% on the downside. After that, if it finds support in that range, it will likely return to where it closed yesterday. Conversely, if it solidly breaks the 38% level, the correction may continue with a minimum decline of 50% to 78% in the minor swing. This is our first variation. Alternate Variation: An alternate view suggests a range-bound market. If the market initially takes a solid pullback, the diagonal trend is likely to continue.
NSE:NIFTY
by Manickamtraders
#Nifty directions and levels for September 24th.Good morning, friends! 🌞 Here are the market directions and levels for September 24th. Market Overview: There have been no significant changes in the global and local markets; both have maintained a bullish bias. Today, the market is expected to open with a neutral to slightly positive gap, with SGX Nifty suggesting a positive move of around +40 points as of 8 AM. In the previous session, both Nifty and Bank Nifty closed positively, but there was no significant movement. Today, we expect to continue this trend, as there are no major trigger points for the next movement. However, we can check the charts for further insights. Sentiments are similar for Nifty and Bank Nifty charts, and we will follow the sentiment shared in the previous session. Current View: Structurally, a diagonal pattern is progressing. If the market rejects around the immediate resistance, or if the market initially declines, we can expect a minimum correction of 23% to 38%. If it breaks below 38%, the trend could shift into a correction phase. Conversely, if it does not break 38%, the diagonal pattern could extend further. This is our first variation. Alternate Variation: The alternate variation suggests that if the market consolidates around the immediate resistance, it will be a sign of bullish continuation. We can expect to see the next resistance level if it breaks through the current resistance.
NSE:NIFTY
by Manickamtraders
#Nifty Directions and Levels for the Last Week of SeptemberNifty and Bank Nifty Directions and Levels for the Last Week of September Global Market Overview: In the previous week, the global market continued to rally solidly. Structurally, it indicates a bullish bias. This week, we can expect some continuation of the rally along with potential consolidation. In the meantime, there are some important events that we should pay attention to. Our Market: Our market also continued the solid rally. Structurally, it indicates a bullish bias; however, the structures differ between Nifty and Bank Nifty. If we look at the price action, both are exhibiting a strong bullish trend. However, when comparing the wave counts, Nifty is progressing through its 5th sub-wave, while Bank Nifty is currently in its 3rd sub-wave. How can we interpret this sentiment? Typically, this kind of sentiment leads to consolidation. For example, once Nifty finishes its 5th wave, it could experience a sharp correction. At that time, Bank Nifty might undergo a 4th wave, which is a consolidation wave, so we wouldn't expect much correction in that scenario. Once Bank Nifty completes its 4th wave, the 5th wave could resume a bullish bias, during this time, Nifty likely wouldn't continue its correction. On the other hand, if Bank Nifty dominates the market (meaning the 3rd wave extends further), we cannot expect a correction in Nifty. It may seem a bit complicated, but in simple terms, we can anticipate consolidation where the market could either face rejection or experience a significant breakout. #Nifty Current View: If the market breaks the previous high, we can expect the next target to be 26,034. This is a crucial level. If the market faces rejection there, we can expect a correction between 61% to 78% of the minor swing. However, confirmation of a correction will only be valid if the market breaks the 38% Fibonacci level. Until then, the market remains bullish. Alternate View: The alternate view suggests that if the market does not face rejection or consolidates instead, the rally is likely to continue to the level of 26,273.
NSE:NIFTY
by Manickamtraders
2
20th Sep '24 - Last week's stance change paid off, Nifty up 1.9%Nifty Stance Bullish ️⬆️ Back-to-back 1.9% weekly moves, Nifty moves an astonishing 953 points over the last 2 weeks. There is nothing that could possibly stop this train. What is more interesting is that 100% of this move came on Thursday + Friday, till then Nifty was flat and would have given the impression that the week may be going sideways. The good thing is that we started the week with a bullish mindset, ensuring we did not run into losses, unlike many professional traders who lost a lot on Friday alone. The losses on Friday for those who traded Sensex were because of the 1.3% sudden move that came in a range of 8 minutes, it really looked inorganic and manipulative. These days, it is quite easy to predict when the HFTs are gearing up to deploy their stop loss hunting, the wiser strategy is not to play. For the next week also, we wish to maintain the bullish stance and would like to switch back to a neutral stance only if we drop below 25528.
NSE:NIFTYLong
by viswaram
#Nifty directions and levels for September 20th.Good morning, friends! 🌞 Here are the market directions and levels for September 20th. Market Overview: Global markets are showing a bullish trend, as indicated by the Dow Jones, while our local market has a moderately bullish outlook. Today, the market is expected to open neutral to slightly gap-up, with SGX Nifty suggesting a positive move of around +30 points as of 8 AM. In the previous session, both Nifty and Banknifty experienced a solid breakout, but it didn’t sustain. Structurally, this indicates a diagonal pattern, meaning the trend is bullish, but momentum may be limited. This is one variation. On the other hand, if the market declines, it could turn into a correction. Let's look at the charts for more insight. Nifty: Current view: The current view suggests that if the market declines after some initial pullback, we can expect a correctional target at the 38% Fibonacci level on the downside. Structurally, it may not sustain there. However, if a solid pullback occurs, the market could form a range-bound structure between the previous high and the current low. This is our first variation. Alternate view: Alternatively, if the gap-up sustains, we could expect the market to reach the level of 25,561. If it consolidates or breaks this level, we might see a further move up to 25,643. On the other hand, if there is a sharp rejection at this level, it may retest the previous bottom.
NSE:NIFTY
by Manickamtraders
1
#Nifty directions and levels for September 19th.Good morning, friends! 🌞 Here are the market directions and levels for September 19th. Market Overview: Both global markets and our local markets are still showing a moderately bullish trend. Moreover, today the market is expected to open slightly neutral to gap-up, with SGX Nifty indicating a positive move of around +70 points as of 8 AM. In the previous session, we observed differing performances between the Nifty and Bank Nifty. The Bank Nifty had a solid rally, while the Nifty underperformed and closed in the negative. Typically, we might interpret this as a continuation of the negative bias; however, today the SGX Nifty is indicating a decent positive start. Therefore, if the market sustains the gap-up and breaks the previous high, we can follow that direction. However, I am starting with a negative bias because theory suggests that. Let's look at the charts. Nifty: Current View: The current view suggests that if the initial market declines, we can expect a minimum correction level of 38% on the downside. After that, if the market breaks or consolidates around the 38% mark, the correction is likely to continue. On the other hand, if there is a solid pullback, we can anticipate a minimum target of 61% to 78%. Simply put, if the bounce-back breaks the 38% level in the minor swing, we can anticipate reaching the 61% to 78% levels next. Alternate View: The alternate view suggests that if the gap-up sustains, there may be some consolidation between the previous high and the previous day's closing price. If it breaks the previous high, the rally is likely to continue. However, we should wait for the breakout for directional movement.
NSE:NIFTY
by Manickamtraders
2
NIFTY Intraday Trade Setup For 18 Sep 2024NIFTY Intraday Trade Setup For 18 Sep 2024 Bullish-Above 25450 Invalid-Below 25400 T- 25630 Bearish-Below 25310 Invalid-Above 25360 T- 25100 NIFTY has closed almost on a flat note with minor gain of 0.14% today. Since last three sessions index is just sideways within 150 points small range. Index is just consolidating after ATH breakout. Now above 25450 index should trend in the higher side, no comments on momentum as it has passed away months ago. Below 25300 index should start a bearish action. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 25450 then we will long for the target of 25630. For selling we need a 15 Min candle close below 25300. T- 25100. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:NIFTY
by Omahto
#Nifty directions and levels for September 17th.Good morning, friends! 🌞 Here are the market directions and levels for September 17th. Market Overview: Global markets continue to show a moderately bullish trend, as indicated by the Dow Jones, and this sentiment is reflected in our local market as well. Today, the market is expected to open with a gap-up, with SGX Nifty suggesting a positive move of around +30 points as of 8 AM. Current view: There haven't been any significant changes in the previous sentiment, so I'll explain it simply. Nifty is showing a moderately bullish structure, which means consolidation. If the market rejects around the immediate resistance, it may continue this sentiment. A solid rally is expected only if the immediate resistance is broken convincingly. Alternate view: Alternatively, if the market starts negatively, the demand zone will act as strong support. If the market finds support there, it could form a range between the previous high and the downside demand zone. A deeper correction is expected only if the demand zone is broken convincingly.
NSE:NIFTY
by Manickamtraders
#Nifty directions and levels for September 16th.Good morning, friends! 🌞 Here are the market directions and levels for September 16th. Market Overview: Global markets are showing a moderately bullish trend, as indicated by the Dow Jones, and this sentiment is reflected in our local market as well. Moreover, today’s market is expected to open with a gap-up, with SGX Nifty indicating a positive move of around +50 points as of 8 AM. Nifty: Current View: There haven't been any major changes to the market sentiment since the previous session, as Nifty closed with consolidation. Structurally, this suggests we could be in the 4th wave. Now, if the market opens with a gap-up and sustains it, we can expect a 5th impulse wave. The targets for this wave are likely between 25,452 and 25,587. > It’s important to note that the 5th wave is typically a distribution wave. So, if the market breaks the immediate resistance with a strong candle or after some minor consolidation, the rally could extend further, potentially reaching 25,587. On the other hand, if the market reaches the resistance gradually, it may not gain as much momentum, and the maximum level to expect would be 25,492. Alternate View: If the gap-up doesn’t hold or the market declines initially, we may see a correction of around 23% to 38%. Following this, if the market finds support near the 38% Fibonacci level, it could consolidate between this level and the previous high. However, if the market breaks below the 38% level, the next target would be at the 50% Fibonacci level. Still, further correction will only continue if the market decisively breaks below the 50% Fibonacci level.
NSE:NIFTY
by Manickamtraders
4
13 Sep 2024  Stance changed to Bullish, surprising breakouts N50Nifty Stance Bullish ️⬆️ Nifty moves an amazing 474pts ~ 1.91% during the week 9th to 13th September and upgrades its stance from neutral to bullish. Of these 438pts ~ 1.75% surge came on 12th Sep and between 13.30 to 14.51.  12th Sep was an expiry day and I had shorted 25250 at 3.50 and luckily squared off for Rs1.1 around 1.33 PM. This same strike went upto Rs175 and then closed in the money. Sometimes, luck plays on your side as well. We have a new ATH of 25433 and the market has huge relative strength to keep going up, no one is able to predict where the top will be and the bears are feeling sorry for themselves. On the 13th, markets consolidated, and it was a good day for nondirectional traders.  We have revised our stance to bullish but do not expect it to surpass 25800 this weekly series.
NSE:NIFTYLong
by viswaram
#Nifty Directions and Levels for the 3rd Week of September.Global Market Overview: In the previous week, the global market experienced a solid pullback; however, the structure still indicates a range-bound market. What about this week? Structurally, if the market breaks the previous high, we can expect a continuation of the rally. On the other hand, if the market faces rejection around the previous high, the range is likely to continue. However, there are many important events this week, such as Retail Sales, Industrial Production, Building Permits, the Fed Interest Rate Decision, FOMC Economic Projections, and the Fed Press Conference. So, this week might be crucial, and we could expect heightened volatility. Our Market: In the previous week, our market mirrored the global sentiment. Both Nifty and Bank Nifty experienced strong pullbacks, and structurally, this could continue into this week. However, we might see some consolidation in the middle of the week. Let’s break it down further by looking at the charts. While Nifty and Bank Nifty have similar structures, their wave counts differ. Nifty: Current View: If this week begins positively, we could see resistance around the 25492 to 25587 levels. If the market gets rejected here, we can expect a minor retracement of 23% to 38% in the swing. After that, if the market finds support there(around 38%), the rally could continue, with potential targets of 25692 to 25853. This is our primary scenario. Alternate View: In the alternate scenario, if the market starts negatively or faces rejection around the immediate resistance, we can expect a 38% correction. (It’s important to note that the retracement points differ from the current view.) after that If the market breaks this level decisively, we can expect the correction to extend to at least 78% to the swing low. However, if it doesn't break the 38% level, the bullish bias could be maintained.
NSE:NIFTY
by Manickamtraders
2
Nifty Market Update: Symmetric Triangle Pattern in FormationOn September 12, 2024 (Today), NSE:NIFTY opened with a gap-up of more than 100 points, showing early bullish momentum. The index is now trading within a range and appears to be forming a symmetric triangle pattern, indicating potential breakout action. Key levels to watch are the day’s support at 24,978.20 and at 24884.85 and resistance at 25,141.15. A breakout above or below these levels could set the tone for the next trend. Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Always consult a professional before making trading / investment decisions.
NSE:NIFTY
by Stable_Logic
1
#Nifty directions and levels for September 11th.Good morning, friends! 🌞 Here are the market directions and levels for September 11th. Market Overview: Global markets are maintaining a moderately bearish trend, as indicated by the Dow Jones, while our local market has a moderately bullish sentiment. However, today, the market may open neutral to slightly gap-down, as SGX Nifty is indicating a negative move of around -30 points at 8 AM. In the previous session, Nifty had a solid pullback, but Bank Nifty behaved differently, as it didn't pull back as much. Today’s basic structure suggests a minor correction, which we can analyze in the charts. Nifty: In the previous session, Nifty closed more or less at the same level it opened, even though there was a long pullback. This is what we usually refer to as range-bound market movement. The market remains in a range. What about today? > If the gap-down sustains, we can expect a 50% to 61% correction in the minor swing, potentially forming a three-wave structure. > A solid correction is expected only if it breaks the 61% level. If it does, then the next target is 78% and 24834. On the other hand, if it doesn't break, the market will likely form a minor range between the previous day’s high and the 61% downside level. Alternate View: An alternate scenario suggests that if the market opens with a gap-up or if the initial movement is a solid pullback, it may reach the 78% Fibonacci level, especially if it breaks the previous day’s high. > In this case, if it doesn't break the previous high, the market may consolidate around that level.
NSE:NIFTY
by Manickamtraders
#Nifty directions and levels for September 10th.Good morning, friends! 🌞 Here are the market directions and levels for September 10th. Market Overview: Global markets are showing a moderately bearish trend, as indicated by the Dow Jones, and our local market reflects a similar sentiment. However, today, the market may open with a gap-up, as SGX Nifty is indicating a positive move of around +45 points at 8 AM. Nifty and Bank Nifty are showing slightly different. Bank Nifty had a strong pullback in the previous session, but Nifty did not. Typically, when the market breaks the 38% Fibonacci level after a sharp decline, it suggests a range-bound market. So, today might see some consolidation, which we can track on the charts. Nifty: Current View: > If the market sustains the gap-up, we can expect the next target to be the 61% Fibonacci level on the upside. After that, if it consolidates there or breaks it then the rally will likely continue. > On the other hand, if it rejects this level, the market might close near today’s opening level. Alternate View: > Alternatively, if the gap-up doesn’t sustain or if the market rejects around the 50% resistance level, it may retrace to a minimum of 38% in the minor swing. However, the correction will only continue if it breaks the 38% Fibonacci level. If that happens, we can expect the next corrective target to be 50% and 78% in the minor swing. > on the other hand, If the rejection doesn’t break the 38% Fibonacci level, the market may consolidate between the previous high and the 38% Fibonacci level. > In this case, if it breaks the previous high after consolidation, we can follow the pullback.
NSE:NIFTY
by Manickamtraders
#Nifty directions and levels for September 9th.Good morning, friends! 🌞 Here are the market directions and levels for September 9th. Market Overview: Global markets are showing a bearish trend, as indicated by the Dow Jones, and our local market reflects a similar sentiment. However, today, the market may open with a gap down, as SGX Nifty is indicating a negative move of around -80 points. Both Nifty and Bank Nifty experienced a solid correction in the previous session. Structurally, we can expect today's movement to shift from correction to consolidation, and we can check the charts to see how this is likely to unfold since both Nifty and Bank Nifty are showing the same sentiment. Nifty: Current View: Gift Nifty is indicating a negative start, but when we look at the wave structure, we can see a 5th sub-wave within the 3rd wave (minor swing). Structurally, further long correction seems less probable, so if the market faces rejection around the immediate support level, we may see a bounce back of 23% to 38% in the minor swing. According to the wave structure, this bounce back could be the 4th wave. This is our first scenario. Alternate View: If the correction doesn't result in a pullback or if the market breaks the immediate support level decisively, the 3rd wave could extend further to levels between 24,717 and 24,672. > In this case, we should focus on the structure, as the 5th wave is a distribution wave. If the market breaks the support level with a solid candle or consolidates around it, the correction will likely continue further. However, if the market approaches the support level gradually, it may not fall significantly.
NSE:NIFTY
by Manickamtraders
#Nifty Directions and levels for the 2nd Week of S Global Market Overview Last week, the global market had four red candles, which suggests that the negative trend might continue this week as well. But if you ask, "Will this correction go on for two or three more weeks?" my answer is no. The market structure shows that if it keeps correcting, it may find support near the previous low. If that happens, the market could start moving sideways. This is the current global market sentiment. Our Market Both Nifty and Bank Nifty followed the global sentiment last week. Structurally, we can expect further correction. Let’s look at the charts. However, both Nifty and Bank Nifty share the same overall structure. Nifty In Friday’s session, the Dow Jones closed with a solid red candle, so the first session of the week may open negatively. If this occurs, we can expect a correctional target of the 61% Fibonacci level on the downside. In the meantime, it may consolidate around the 50% level (24716). > In this case, the 61% Fibonacci level serves as a key support zone. After the market reaches this level, we could see a bounce back of about 23% to 28% in the current swing. This is our first scenario.
NSE:NIFTY
by Manickamtraders
#Nifty directions and levels for September 6th.Good morning, friends! 🌞 Here are the market directions and levels for September 6th. Market Overview: The global markets are showing a moderately bearish trend, as indicated by the Dow Jones. Our local market also reflects a similar sentiment. However, today, the market may open with a gap-down, based on SGX Nifty’s negative indication of around -80 points. Both Nifty and BankNifty have been maintaining a range-bound sentiment. Will this continue today as well? The probability is high; however, we will need to confirm by checking the charts. Nifty: Current view: The market is still trading within a range, so we should wait for a proper range breakout even if it opens with a gap-down. If the market opens gap-down, we can expect immediate targets are the 78% Fibonacci level to the minor demand zone. After reaching this area, if the market consolidates or breaks solidly, the correction will likely continue toward lower levels of 24998 to 25037. That means we can expect the correction or next move only if it breaks the immediate support level. This is our first scenario. Alternate view: On the other hand, if the market shows a strong pullback initially or if it rejects the immediate support level, it might try to maintain the range-bound structure. In this case, we could expect a bounce back of around 38% to 61% in the minor swing.
NSE:NIFTY
by Manickamtraders
5
#Nifty directions and levels for September 5th.Good morning, friends! 🌞 Here are the directions and levels for September 5th. Market Overview The global markets are maintaining bearish pressure, as indicated by the Dow Jones. Our local market has been showing a moderately bullish sentiment. However, based on a 90-point positive signal from GiftNifty, we may see the market open with a gap-up today. Both Nifty and BankNifty have been range-bound. What about today? It’s likely that the range will continue, but let’s take a look at the charts. Nifty Current View If the market opens with a gap-up, the 78% level will act as crucial resistance. If it consolidates or breaks this level, we can expect the next targets to be a minimum of 25,333 to 25,366. This is our first scenario. Alternate Scenario On the other hand, if the market rejects the 78% level or takes a sharp decline initially, the range-bound market is likely to continue. The expected targets would be a minimum of 38% to 61% of the minor swing.
NSE:NIFTY
by Manickamtraders
Nifty Intraday Support & Resistance Levels for 05.09.2024On Wednesday, Nifty opened with a gap down, breaking below the 30m demand zone and hitting a low of 25083.80. However, it recovered by the end of the day, closing at 25198.70. Both the weekly and daily trends (50 SMA) remain positive. As of now, GIFT NIFTY is trading 90 points higher, indicating the possibility of a gap-up opening today. Support Levels: Near Demand/Support Zone (Daily): 24964 - 25052 Near Demand/Support Zone (Daily): 24771 - 24859 Resistance Levels: Near Supply/Resistance Zone (15m): 25260 - 25285
NSE:NIFTY
by PriteshPal