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Niftyintradaysetup

NIFTY prediction for tomorrow 02 JUNEAs we discussed, NIFTY opened sideways and continued in a bullish direction after breaking the trendline, as discussed in the video. If we look at the chart now: The market is trading at the resistance level, where it showed a nice correction last time. Now, the market has made a zone in the range of 23984 - 24154. by the time the market is in the zone, it's going to be volatile sideways. Once it breaks in either direction, it's going to give nice directional momentum. As the market is already stretched, I am expecting the market to consolidate in 1 day or 2, and after that, it might give us good momentum. Support levels: 23984, EMA(50), 23842, and 23692 resistance levels: 24154, 24325 If we look at the OI data: PCR = 1.07 shows the market has bullish sentiment. 24200 seems a good hurdle to the upside; if it breaks, the market is clear to go 24354. 24000 has good PE writing, which is going to provide good support, and 24500 has heavy CE writing, which is going to provide nice resistance. I am expecting the market to consolidate for 1 or 2 days once it breaks the range of 23984 - 24154. it will give a nice momentum. Reason: RSI > 50 shows a mild bullish signal. Price > EMA(13, 50, 200), which indicates the bullish market. PCR = 1.07 indicates bulls are continuously increasing their position in the market. price > VWAP shows a Bullish market structure. Verdict: Sideways or Bullish Plan of action: Sell 24100 CE and 24000 PE (Hedge it with 10/- premium)
NSE:NIFTY
by finnova_
#Nifty directions and levels for June28th.Good morning, friends! 🌺🍬 Here are the directions for June 28th: The global market is showing a slightly negative sentiment, based on the Dow Jones. Our local markets are showing bullish sentiment. However, today, the market may open with a neutral to slightly gap-up start, as indicated by GiftNifty, which shows an increase of 10 points (as of 8:00 AM). Nifty experienced huge volatility in the previous session. Structurally, it has formed an ending diagonal pattern. It's in the 5th wave, so today, if the initial market declines, we can expect a minimum of 78% to swing low correction. However, it must break the minimum 38% Fibonacci level for us to consider it a correction. On the other hand, if it doesn't break the 38% Fibonacci level, it may consolidate a little and break the previous high, extending the diagonal further. This is the basic structure. I used the line chart because the wave patterns are easier to see with it; that's all, nothing apart from that. The alternative scenario suggests that if the gap-up sustains and has a solid structure, the rally could continue further.
NSE:NIFTY
by Manickamtraders
NIFTY prediction for today 27 JUNAs we discussed, NIFTY opened sideways, retraced to the downside, and then gave a good bullish momentum to the upside to the target and resistance trendline. If we look at the chart now: The market is trading at the resistance level, where it showed a nice sell-off in the last hour yesterday. The price is still above the EMA(13, 50, 200), which shows the market's bullish nature. But last hour's sell-off shows 24000 as a strong resistance near resistance. RSI is also having bearish resistance. Support levels: 23690, 23636, EMA(50), and Support trendline resistance levels: 23890 and resistance trendline. If we look at the OI data: PCR = 1.27, which has reduced from 1.33, indicates that bears are slowly increasing their position at 24000. Bulls have written PE at each lower level nicely. Also, CE writers have held quite good positions at higher levels. 24000 is going to provide a strong resistance to higher levels. I am expecting the market to make a double top structure and then fall from 24000. Reason: RSI = 70 shows bulls are strong, but RSI divergence might lead the market to some correction Price > EMA(13, 50, 200), which indicates the bullish market. PCR = 1.27, which has changed from 1.33, indicates bulls are continuously increasing their position in the market. price > VWAP shows a Bullish market structure. Verdict: Sideways or Bullish Plan of action: Note : after making a double top neckline break, you can go bearish. Sell 24000 CE (Hedge it with 10/- premium CE)
NSE:NIFTY
by finnova_
#Nifty directions and levels for the June 27th.Good morning, friends! 🌺🍬 Here are the directions for June 27th: There is no significant difference compared to the previous session. The global market is showing a slightly negative sentiment, based on the Dow Jones. Our local markets are showing bullish sentiment. However, today, the market may open with a neutral to slightly gap-down start, as indicated by GiftNifty, which shows a decrease of 55 points (as of 8:00 AM). Yesterday, Nifty continued the rally. Both structures have the same extension variation, so there are no changes in the market sentiment. Today, GiftNifty is indicating a slightly negative start. If it opens like this, let's look at what might happen in Nifty. >Structurally, it's a bullish market and both have an extension. According to the extension, if the market opens with a gap-down, it could retrace a maximum of 23 to 38%. After that, if it finds support there, the rally will continue with minor consolidation. >However, the probability of a rally today is less compared to yesterday, as the sub-waves driving yesterday’s rally are now over. If the market finds support at either 23% or 38%, then it may close within the range. >As per the wave structure, it could be in the 4th wave. Alternatively, if the correction becomes aggressive, we should wait for confirmation. If the market declines sharply, it may consolidate around 38% or 50%. After that consolidation, if it breaks the previous low, we can expect the correction to continue. Otherwise, it may maintain the bullish sentiment. (Note: If the market initially takes a pullback and breaks the previous high, then the rally may continue further.)
NSE:NIFTY
by Manickamtraders
NIFTY prediction for today 26 JUN As we discussed, NIFTY in the video market opened upside to the breakout and continued its momentum to the upside, breaking the resistance and further giving good bullish momentum. If we look at the chart now: The market has brake the resistance to the upside. Right now, the market is trading in the uptrending channel. I am expecting resistance from the resistance trendline. The price has yet to reach the level provided after the breakout. Now, there are two possible cases in the market. If it opens up, there can be a correction that can be seen in the market till EMA(13) or 23636. If the market opens near the support zone of 23636, then it can move further to the upside, continuing its momentum. Support levels: 23636, Support trendline, and 23432 resistance levels: 23828 and resistance trendline. If we look at the OI data: PCR = 1.33, which has increased from 1.07, indicates a very bullish market nature. 23500 is MaxPain. On the higher side, there is not as much CE writing as writing on the lower side. The only good CE writing at a higher level is 24000. The market is completely in the bull's favor right now. I am expecting the market: Case 1 : if the gap opens down, it will take support at 23636 and continue bullish momentum. Case 2 : if opens gap-up near the resistance trendline, it might correct itself by 23636 Reason: RSI > 60 shows bulls are strong Price > EMA(13, 50, 200), which indicates the bullish market. PCR = 1.33, which has changed from 1.09, indicates bulls are continuously increasing their position in the market. price > VWAP shows a Bullish market structure. Verdict: Sideways or Bullish Case 1 : if the gap opens down, it will take support at 23636 and continue bullish momentum. Case 2 : if opens gap-up near the resistance trendline, it might correct itself by 23636 Plan of action: Case 1 : Gap-down-> Sell 23500 PE (Hedge it with 10/- premium PE) Case 2 : Gap-up-> Sell 23800 CE (Hedge it with 10/- premium CE)
NSE:NIFTYLong
by finnova_
6
#Nifty directions and levels for June 26th.Good morning, friends! 🌺🍬 Here are the directions for June 26th: The global market is showing a slightly negative sentiment, based on the Dow Jones. Our local markets are showing bullish sentiment. However, today, the market may open with a neutral to slightly gap-down start, as indicated by GiftNifty, which shows a decrease of 10 points (as of 8:00 AM). Nifty and Bank Nifty had a solid rally in the previous session. However, the structures are a little bit different. Let's look at each one individually. Nifty had a solid pullback in the previous session, so if the market opens neutral to slightly gap-down, then structurally, we can expect a maximum 23 to 38% correction. If it finds support there, we can expect minor consolidation for the rally continuation. This is the basic structure. On the other hand, if it breaks the 38% Fibonacci level on the downside, it may continue the correction further. Structurally, it could be in a flat correction. (Note: If the initial market takes a pullback and breaks the previous high, then the rally may continue further. However, the momentum could be less, so we can't expect a big rally. If we want a big rally, it would require a solid candle breakout or a minor consolidation around the immediate resistance level.)
NSE:NIFTY
by Manickamtraders
NIFTY Prediction for Tomorrow (Monday) 24 JUNAs we discussed, NIFTY opened high at resistance and fell to 200 EMA. After that, it became a roller coaster with a sideways wild move. If we look at the chart now: The market is having huge volatility, taking support at 200 EMA again and again, which shows a healthy bullish structure. But at the same time, trading in the zone, which I will suggest option buyers to stay away from. Support levels: 23432, 23339, and 23250 resistance levels: 23636 and 23828 If we look at the OI data: PCR = 0.92, which has changed from 1.19, shows mostly profit booking on both sides of the market. If we look at the last 3 hours, there was only CE windoff. 23500 is working as max-pain. 24000 has huge CE writing, which is going to provide good resistance, and on lower levels, 23000 is going to provide very nice support as it has huge PE writing. There has not been any fresh writing today. I am expecting the market: Case 1 : Sideways in range 23432 - 23636. Case 2 : Go with the breakout on either side; it breaks. Reason: RSI 40-60 indicating sideways momentum; EMA(13, 50) > Price > EMA(200), which indicates the indicesive market. PCR = 0.92, which has changed from 1.19, shows bulls do not have much confidence right now. We might see a bearish move soon. Price < VWAP shows a Bearish market structure. Verdict: Sideways or Bearish Case 1 : Sideways in range 23432 - 23636. Case 2 : Go with the breakout on either side; it breaks. Plan of action: Case 1 : Sideways-> Sell 23500 CE and 23500 PE (Hedge it with 10/- premium CE) Case 2 : Exit the opposite position on either side. It breaks the range.
NSE:NIFTY
by finnova_
2
Nifty 25-06-2024 AnalysisHello Traders, Welcome to SriTrader5121 ______________________________________ Overall view for the day Buy - with the support of Important_level Sell - with the rejection of Important_level Major Support - Around 233## Major Resistance - Around 236## See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading – SriTrader5121 _______________________________________ Rules to follow... 1) Wait for confirmation. 2) See the price action at our zones. 3) Trade with Strict Stop Loss. 4) Trade with Small Quantity. 5) Take entries based on Support & Resistance Zones. _____________________________________________________ Please take the trade according to the zones marked, with Risk-Reward. This is not a Buy or Sell recommendation to anyone. Take entries based on your own analysis and risk. This is for education purposes and a helping hand to learn trading in the live market. NOTE: Trade with Strict Stop Loss. It may or may not hit all levels / Zones. So one can book profit / loss based on your risk-reward or considering price action at the respective zone and how it works near that zone. I hope you all like my analysis. Follow me to get regular updates. Please do share your thoughts in the comment section. Please Hit a LIKE, it motivates me to do analysis and share with your trading friends.
NSE:NIFTY
by SriTrader5121
NIFTY 50 SETUP TRADE WIH 1:5 RISK REWARD A good selling detected on NIFTY 50 It's showing a fall due to these reason 1. It's following THE 60 M trendline here 2. It's ready to break the neckline 3. In day chat it's showing the heavy bearish pressure Just grab out will your own risk With a small amount Stay connected Stay happy Bande mataram A good selling detected on NIFTY 50 It's showing a fall due to these reason 1. It's following THE 60 M trendline here 2. It's ready to break the neckline 3. In day chat it's showing the heavy bearish pressure Just grab out will your own risk With a small amount Stay connected Stay happy Bande mataram
NSE:NIFTYShort
by tradergyan01
#Nifty Directions and levels for june24th.Good morning, friends! 🌺🍬 Here are the directions for June 24th: The global market is showing a moderately bullish sentiment, based on the Dow Jones. Our local markets are also maintaining this moderately bullish sentiment. However, today, the market may open with a gap-down start, as indicated by GiftNifty, which shows a decrease of 75 points (as of 8:00 AM). Nifty and BankNifty have both been maintaining a range-bound structure, with no significant changes. However, GiftNifty is indicating a negative start today. If the market breaks below the current range, a correction may be expected. Conversely, if it finds support at the immediate support level, it will likely return to its range. This is the basic structure we are observing. Additionally, I will share one thing: it has been a long consolidation period, so if it breaks, it could lead to a sharp correction. To determine if the correction will continue, we should check the volume and open interest (OI). If both increase, we can assume the correction may continue further. If they do not, we can't expect a significant correction.
NSE:NIFTY
by Manickamtraders
NIFTY analysis for today 21 Jun 24As we discussed, NIFTY traded in a sideways roller coaster with huge volatility inside the provided channel. If we look at the chart now: The market is trading inside the indecisive channel zone. By the time it's in the channel, it's going to be a roller coaster sideways. If the market breaks the channel to the downside, it may lead to a good fall till 200 EMA . Inside the channel, it can again show good volatility, big up and down candles. Trade the market with proper risk management. Support levels: 23474, 23379, and 23340 or EMA(200) Resistance levels : 23622, and upper resistance trendline If we look at the OI data: PCR = 1.19, which has increased from 0.97, shows a bullish sign in the market. 23550 is max-pain. 23600 also has significant good CE writing that will provide good resistance. Higher levels have lower CE writing than lower lower put writing. The market is not able to make a Higher high. However, as bulls are not able to push the market to the upside, it might lead to a short correction. I am expecting the market : Case 1 : Sideways bullish in channel. Case 2 : Good momentum either side it breaks. Reason: RSI is 40-60, showing sideways structure. Price < EMA(13) and Price > EMA(200), which indicates weak bulls market PCR = 1.17 has increased from 0.97 and shows signs of bullishness and an increase in the bull's strength. Price > VWAP shows a Bullish market structure. Verdict: Neutral Plan of action: Case 1 : Sideways: Sell 23500 PE & 23600 CE (Hedge it with 10/- premium options) Case 2 : Keep both inside channel. Exit the opposite side on either side, and it breaks.
NSE:NIFTY
by finnova_
#Nifty directions and levels for June20th.Good morning, friends! 🌺🍬 Here are the directions for June 20th: There are no significant changes in the global and our markets. They are maintaining a moderately bullish sentiment. Today, the market may open neutral to slightly gap-up, as indicated by GiftNifty, which shows an increase of 10 points (at 8:00 AM). Nifty Analysis Nifty and Bank Nifty structures are different, but the subwaves are the same, currently in sub-wave 4. Here’s the breakdown: Previous Session: Nifty had high volatility. We discussed a diagonal pattern in the 5th wave, and a sharp rejection suggested a possible correction. This correction happened in the previous session. Current Structure: Nifty is forming a flat correction variation, a time-adjustment correction pattern. Today's Expectation: The market may move in two ways. Even if it opens with a gap-up, a correction to 23,442 and 23,380 is possible. This is the final leg of the flat correction, so if support is found at these levels, a bounce back is expected. Alternative Scenario: If the market sustains the gap-up, it may consolidate between the previous high and the previous close, resulting in a range-bound market.
NSE:NIFTY
by Manickamtraders
2
NIFTY prediction for today 20 JUN 24As we discussed, NIFTY traded in a sideways roller coaster with huge volatility inside the provided channel. If we look at the chart now: The market is trading indecisive in a bullish zone. By the time it's in the channel, it's going to be a roller coaster. If the market breaks the channel to the downside, it may lead to a good fall till 200 EMA . Inside the channel, it can again show good volatility, big up and down candles. Trade the market with proper risk management. Support levels: 23474, 23379, and 23340 or EMA(200) Resistance levels : 23622, and upper resistance trendline If we look at the OI data: PCR = 0.97, which has decreased from 1.91, shows a weak bullish sign in the market. 23500 is max-pain. The market does not have much resistance to the upside till 24000. However, as bulls are not able to push the market to the upside, it might lead to a short correction. Also, a significant fall in PCR shows weakness in bulls. I am expecting the market : Case 1 : Sideways bullish in channel Case 2 : Bearish if the market breaks the channel to the downside. Reason: RSI < 50, falling to doenside. if it crosses the 40 to the downside, it might lead to a bearish market. Price < EMA(13, 50) and Price > EMA(200), which indicates weak bulls market PCR = 0.97 has decreased from 1.19 and shows signs of weakness in the bull's strength. Price < VWAP shows a Bearish market structure. Verdict: Neutral Plan of action: Case 1 : Sideways: Sell 23500 PE & 23600 CE (Hedge it with 10/- premium options) Case 2 : Exit PE if it breaks the channel to the downside.
NSE:NIFTY
by finnova_
#Nifty directions and levels for June19th.Good morning, friends! 🌺🍬 Here are the directions for June 19th: There are no significant changes in the global and our markets. They are maintaining a moderately bullish sentiment. Today, the market may open with a gap-up start, as indicated by GiftNifty, which shows an increase of 70 points (at 8:00 AM). Nifty has been maintaining consolidation even if it opens with a gap-up. Today may follow a similar pattern. If the market opens with a gap-up, it may consolidate around the supply zone. The rally will continue only if it breaks the supply zone with consolidation or a solid candle breakout occurs. This is the basic structure. An alternate view from wave analysis suggests that we are currently in the 5th diagonal wave, which is a distribution wave. Structurally, the market is moving accordingly. If the market sharply rejects around the supply zone, we can expect a minimum retracement of 38% in the minor swing. After that, if it breaks the 38% level, it may turn into a correction.
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NSE:NIFTY
by Manickamtraders
3
NIFTY prediction for tomorrow 19 JUN 24As we discussed, NIFTY traded in a sideways-bullish zone on the upside with huge volatility in the short range. If we look at the chart now: The market is trading indecisive in a bullish zone. That may lead to a short correction in the market. The market is not going to be bearish unless EMA(13, 50) successfully crossovers. Right now, the market is very volatile. Trade it with proper risk management. Support levels: 23526, 23474(EMA(50)), and 23379 resistance levels: 23622, 23600 If we look at the OI data: PCR = 1.19, which has decreased from 1.42, shows a bullish sign in the market. 23500 is max-pain. The market does not have much resistance to the upside till 24000. However, as bulls are not able to push the market to the upside, it might lead to a short correction. Also, a significant fall in PCR shows weakness in bulls. There have been lots of calls unwinding, which shows that bears also do not have strength, which might lead the market sideways. I am expecting the market to touch an upper trendline and then a correction. Reason: RSI 70, having flat momentum, shows a sideways structure. Price > EMA(13, 50, 200), which indicates a bullish market structure. PCR = 1.19 has decreased from 1.42 and shows signs of weakness in the bull's strength. Price > VWAP shows a Bullish market structure. Verdict: Indecisive Plan of action: Case 1 : Range Bound: Sell 23600 CE & 23500 PE (Hedge it with 10/- premium options) Case 2 : Exit opposite position on either side it breaks.
NSE:NIFTY
by finnova_
1