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Nifty Analysis for Monday 29 July 2024Nifty created sharp upside momentum in last 2 days, it's ultimate goal is 25000. So I am providing highest probability intraday setup in Nifty50 My overview is bullish in nifty for Monday... it will good if Market opens gapdown or flat & creates a selling swing in first 30-45 mins then after creating a support price will bounce. If Market opens gapup or flat and moves upside in first 30-45 min. then there is a very less probability of continuation so if Market creates M pattern then selling swing will be expected and intraday low break is min. expected.
NSE:NIFTYLong
by jain_abhishek
Nifty Intraday Trade Setup | 26th JulyNifty opened with a gap-down and after consolidation we saw a short covering rally from around 24200 to 24425 levels. For tomorrow, if Nifty sustains above 24460 we expect to see an up-move towards 24500 and above levels. On the other side, if Nifty breaks 24350 on the downside we may see 24300 and lower levels marked the chart. Expectations: Volatile Day Intraday Levels: Buy Above - 24460 Sell Below - 24350 To motivate us, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India
NSE:NIFTY
by InvestPro_India
2
Nifty Intraday Support & Resistance Levels for 26.07.2024On Thursday, Nifty opened gap down but recovered 200 points from the day low and closed at 24406.10. The Weekly trend (50 SMA) and Daily trend (50 SMA) remain positive. As Nifty stayed between the important levels of 24200 to 24450, the support and resistance levels remains the same as mentioned in the last post. Support Levels: Major Demand/Support Zone (75m): 24056 - 24150 (already tested 2 times) Major Demand/Support Zone (Daily): 23350 - 23667 Resistance Levels: Near Supply/Resistance Zone (75m) for weekly trade: 24607 - 24674 Far Supply/Resistance Zone (15m): 24741 - 24774
NSE:NIFTY
by PriteshPalan
#Nifty directions and level for July 26th.Good morning, friends! 🌺🍬 Here are the market directions for July 26th: The global market has a bearish sentiment (based on the Dow Jones). Our local market has a structurally moderately bearish sentiment. Today, the market may open with a neutral to slightly gap-up start, as indicated by the GIFT Nifty, which shows +40 points at 8.00 am. **Nifty:** In the previous session, Nifty closed with a pullback, and today it may continue this trend because GIFT Nifty indicates that. However, if you look at the wave count, every swing has a three-wave count. There are many variations with three-wave structures, but here we can take these two variations for simplicity: 1. **Diagonal Variation:** - In this variation, it shouldn't close the candle above the level of 24,473. If it happens, we can expect a correction. - This means if the market initially declines sharply or, after the gap-up, if it rejects around the level of 24,473, then it may turn into a correction. - However, confirmation is expected from the 38% Fibonacci level breakout in the minor swing. If this happens, we can expect a minimum of 50%, 78%, and 24,175. - If it doesn't break this level, it will continue the moderately bullish sentiment. This is our current variation. 2. **Pullback Continuation:** - In this variation, we could complete the correction to the first three swings from the start of the correction. So, if the gap-up sustains above the level of 24,473, then we can expect pullback continuation with some consolidations. The targets are a minimum of 24,588 to 24,635. This is our alternate variation.
NSE:NIFTY
by Manickamtraders
4
Nifty Intraday Support & Resistance Levels for 25.07.2024On Wednesday, Nifty took support at the 15m Demand zone mentioned in the last post and bounced to 24450 but didn't cross this important resistance. On the lower side, 24200 will play as crucial support. If broken, we might see a further fall in Nifty. As mentioned in the last post (linked in "Related Ideas" below), if 24074.20 (Budget Day low) is not held, the next major support zone is seen at 23667 on the daily chart. Weekly trend (50 SMA) and Daily trend (50 SMA) are still positive. Support Levels: Major Demand/Support Zone (75m): 24056 - 24150 (already tested 2 times) Major Demand/Support Zone (Daily): 23350 - 23667 Resistance Levels: Near Supply/Resistance Zone (75m) for weekly trade: 24607 - 24674 Far Supply/Resistance Zone (15m): 24741 - 24774 Note: While writing this, GIFTNIFTY is showing 220+ points negative, indicating a potential gap down opening.
NSE:NIFTY
by PriteshPalan
#Nifty directions and levels for July 24th.Good morning, friends! 🌺🍬 Here are the market directions for July 24th: The global market has a bearish sentiment (based on the Dow Jones). Our local market, however, maintains a structurally moderately bullish sentiment. Today, the market may open with a neutral to slightly gap-down start, as indicated by the Gift Nifty, which shows -60 points at 8 am. Structurally, both Nifty and Bank Nifty are range-bound, so they might continue in this manner today. In the previous session, both Nifty and Bank Nifty experienced significant movements due to the budget announcement but closed with a solid pullback at the end of the day. Structurally, this indicates potential for further continuation. It's important to note that The budget announcement of the previous session may affect the market today, so we should trade cautiously. However, I have analyzed my sentiments for Nifty and Bank Nifty, so let's examine them one by one. Today's sentiments: Nifty: If the gap-down sustains and breaks the 38% Fibonacci level, it may again enter the range market. This is difficult to trade, but my expectation is if it breaks the 38% Fibonacci level, it may reach the 78% with some consolidation. This is our first variation. In this variation, after that correction if it also breaks 78%, the correction may continue further. Alternatively, if the decline finds support around the 38% Fibonacci level, it’s a sign of a bullish bias. We can expect a pullback continuation if it breaks the minor swing high. Until then, it may consolidate between the minor swing high and the 38% Fibonacci level. Note: If the market opens with a gap-up and breaks the minor swing high, the rally will continue. The upside levels remain the same.
NSE:NIFTY
by Manickamtraders
Nifty Intraday Support & Resistance Levels for 24.07.2024On Tuesday, during a highly volatile budget session trading day, Nifty broke the major daily support zone, making a low of 24074.20 before closing just 30 points down at 24479.05. If yesterday's low is not held, the next major support zone is at 23667 on the daily chart. The weekly and daily trends (50 SMA) remain positive. Support Levels: Near minor support/demand zone (15m): 24278 - 24362 Major support/demand zone (75m): 24056 - 24150 (already tested yesterday) Major support/demand zone (Daily): 23350 - 23667 Resistance Levels: Near supply/resistance zone (75m) for weekly trade: 24607 - 24674 Far supply/resistance zone (15m): 24741 - 24774
NSE:NIFTY
by PriteshPalan
NIFTY Intraday Trade Setup For 23 Jul 2024NIFTY Intraday Trade Setup For 23 Jul 2024 Bullish-Above 24600 Invalid-Below 24550 T- 24855 25160 Bearish-Below 24350 Invalid-Above 24400 T- 24048 23800 NIFTY has closed on a flat note today, calmness before Budget move. However it formed spinning top candle in daily TF which is indecision sign. It is going to be a news reactive/driven market tomorrow due to Union Budget announcements. One can avoid trading tomorrow as I personally cant's trade uncertainty. However 24600 and 24350 will be range I will be looking to trade on breakout. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 24600 then we will long for the target of 24855 and 25160. For selling we need a 15 Min candle close below 24350. T- 24048 and 23800. 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 Budget day prediction for tomorrow 23 JUN Tomorrow is Budget Day; all of you must be very excited to trade it. Usually, there is not very good price action for such events. The market might take turns from pivotal points marked on the chart. If we look at the chart now: The market is trading at 50 EMA (1H-TF). The market also trades at a 0.5 Fib level. which might provide a good support zone. Support levels: 24500, 200 EMA, 24188, 23985 Resistance levels: 24570, 24820 If we look at the OI data: PCR = 0.90 shows the market has a bullish sentiment. 24500 is Max pain. Lower levels have significantly higher PE writing than CE writing on higher levels, making a bullish market structure. Tomorrow's market moment depends upon the budget announcement. Reason: RSI ~ 40 - 60 shows the market is in a sideways structure. Once Price breaks the range of 50 EMA and 200 EMA, it will decide the direction of the market. PCR = 0.90 indicates market-bullish sentiments. Price> VWAP shows a Bullish market structure. Verdict: Neutral Plan of action: Wait for 15 min candle. Wait for good price action on the 24500 levels, and make your positions accordingly.
NSE:NIFTY
by finnova_
NIFTY Intraday Trade Setup For 22 Jul 2024NIFTY Intraday Trade Setup For 22 Jul 2024 Bullish-Above 24730 Invalid-Below 24680 T- 24930 Bearish-Below 24500 Invalid-Above 24550 T- 24290 NIFTY has closed on a flat note with a bearish sentiment as it ended the week near lowest point. It has not yet lost gains but sentiment has turned bearish. The coming week is likely to be volatile due to Union Budget placed on 23 Jul. One can avoid trading like we escaped Loksabha result week. In case 24730 is tested via gap up then it may face intra resistance. We will consider buy on pullback breakout setup only. 24730 and 24290 are levels for Monday. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 24730 then we will long for the target of 24930. For selling we need a 15 Min candle close below 24500. T- 24290. 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
19 Jul 2024 - The first real signs of tiredness, stance neutralNifty Stance Neutral ➡️ Nifty managed to only gain 14pts ~ 0.06% this week, but we hit a new ATH on all 4 working days. The new ATH is 24854, but before we talk about that - the price action of 18th Jul requires special mention. We fell 84pts ~ 0.34% between open & 09.35, then we went up 162pts ~ 0.66% by 10.11. We then fell again 173pts ~ 0.7% by 11.31 and then rose 332pts ~ 1.36% by 14.51. Down-up-down-up, we had 4 mutually contradicting price movements, these are not normal times & the traders who are facing these headwinds are not ordinary either. It really takes so much courage & inner peace to trade with a level head. The price action that followed today was a one way trip, a decent 346pts ~ 1.39% intraday fall after hitting a new ATH of 24854. The only reason I am going neutral from the bullish stance is because of the intensity of the fall today.  If we notice further weakness, I would not relent to go short as well. Honestly, going short has never worked for me in the past 1 year or so - the puts just eat the dust every single time. A bear run will wake up all those dreamers, thats what I feel.
NSE:NIFTY
by viswaram
#Nifty directions and levels for July 19th.Good morning, friends! 🌺🍬 Here are the directions for July 19th: In the last session, the Dow Jones fell drastically, indicating a negative bias. Our local market has a mixed bullish sentiment. Today, the market may open with a neutral to slightly gap-up start, as indicated by the Gift Nifty, which shows a +10 points. Nifty and Bank Nifty are showing different structures. Nifty has a solid bullish structure, while Bank Nifty is in consolidation. Let's look at this one by one. Nifty: In the previous session, Nifty had a huge movement at the end of the day, making a new high with a solid handle. What’s next? I will explain step by step to help you easily understand. Point 1: If you roughly look at the chart, it shows a solid bullish structure. You can expect the rally to continue if it breaks the previous high. This is the basic structure. Point 2: But even if made a new high with solid candle The RSI did not break the previous high in 4H, 1H, or even 15min. At the same time, the Dow Jones also fell drastically. Point 3: And if u look at the Bank Nifty it did not participate in this rally. but it has a consolidation. If it breaks the consolidation, it may help continue the rally. The probability is uncertain. Considering these three points, it’s complicated to conclude the direction. Here’s my opinion: if the market breaks the previous high and Bank Nifty supports it, we can enter a long position, which may yield better results. Alternatively, if there is a solid breakout candle, you can enter, but the decision is yours. This is our bullish variation. Bearish view: Alternatively, if the market declines initially, we could wait for the 38% Fibonacci level breakout. If it breaks, we can expect a correction of a minimum of 50% to 78%. On the other hand, if it doesn’t break 38%, then it will maintain the bullish bias.
NSE:NIFTY
by Manickamtraders
1
Nifty Intraday Support & Resistance Levels for 19.07.2024On Thursday, Nifty took support exactly at the 15m demand zone (24485 - 24516) mentioned in the last post, broke the previous high, and made a new all-time high of 24837.75 before closing at 24800.85. The weekly (50 SMA) and daily trends (50 SMA) are now overbought. Support Levels: Near support/demand zone (30m): 24599 - 24648 Far support/demand zone (30m): 24504 - 24560 Major support/demand zone (125m) for weekly trade: 24193 - 24357 Major support/demand zone (Daily): 24141 - 24461 There is currently no supply/resistance zone seen on the chart.
NSE:NIFTY
by PriteshPalan
#Nifty directions and level for July 18th.Good morning, friends! 🌺🍬 Here are the directions for July 18th: The global market has a bullish sentiment (based on Dow Jones). Our local market has a moderately bullish sentiment. Today, the market may open with a neutral to slightly gap-down start because the Gift Nifty indicates a 20-point decrease. Nifty: In the previous trading session, Nifty opened with a gap-up but did not rise much higher. Structurally, it is showing consolidation, which is likely to continue in the same direction. However, this will only happen if it breaks the previous high. Given that Gift Nifty suggests a gap-down opening today, the scenario changes slightly. So, If the market declines initially, we can expect a 23% to 38% level of correction. After that, if it finds support at these levels, the consolidation may continue. For a continuation, it must break the 38% Fibonacci level solidly. Alternatively, if the gap-down doesn't sustain and the market pulls back, we can expect consolidation until it breaks the previous high. If it breaks the previous high with a solid candlestick structure, a rally continuation is expected, with some consolidations around the resistance levels. On the other hand, if it doesn't break with a solid candlestick structure, the market may continue in a diagonal pattern, meaning it won't generate much premium today. (I have plotted a bow and tie pattern). Note: You can follow the same sentiment if it opens with a gap-up movement.
NSE:NIFTY
by Manickamtraders
Nifty Intraday Support & Resistance Levels for 18.07.2024On Tuesday, Nifty opened with a gap up and reached a new all-time high of 24,661.25 before closing at 24,613. The weekly trend (50 SMA) is overbought, while the daily trend (50 SMA) remains positive. Support Levels: Near support/demand zone (15m): 24,485 - 24,516 Far support/demand zone (30m): 24,331 - 24,395 Major support/demand zone (75m) for weekly trade: 24,056 - 24,150 There is no supply/resistance zone visible on the chart at the moment.
NSE:NIFTY
by PriteshPalan
#Nifty directions and levels for July 16th.Good morning, friends! 🌺🍬 Here are the directions for July 16th: Global markets are maintaining their range (based on the Dow Jones). Our local market has a moderately bullish trend. Today, the market may open neutral to slightly gap-down, as indicated by GiftNifty, which shows a decrease of 13 points at 8:00 am. Nifty and Bank Nifty have different structures: Nifty indicates a moderately bullish bias, while Bank Nifty indicates a range-bound market. Let's look at each one. Nifty: In the previous session, Nifty maintained a gap-up sentiment, but there was no big movement. Based on the wave structure, it could be a 5th wave, meaning a distribution wave. So, today we might see an initial correction. This is our first variation. Alternatively, if the market pulls back and consolidates or breaks the supply zone, we can expect the rally to continue. in this case, If the market doesn't break the supply zone, it may consolidate between the supply zone and the 38% Fibonacci level in the minor swing. > Without breaking this 38% level, it may maintain a bullish bias. A correction is expected only if it breaks the 38% level in the minor swing. > that means, If it sharply rejects around the supply zone and breaks the 38% Fibonacci level in the minor swing, it may turn into a correction.
NSE:NIFTY
by Manickamtraders
Nifty Intraday Support & Resistance Levels for 16.07.2024On Monday, Nifty opened gap-up, reached a new all-time high of 24,635.05, and closed at 24,586.70. The weekly trend (50 SMA) is overbought, and the daily trend (50 SMA) remains positive. Support Levels: Near support/demand zone (15m): 24,485 - 24,516 Far support/demand zone (30m): 24,331 - 24,395 Major support/demand zone (75m) for weekly trade: 24,056 - 24,150 Currently, there is no supply/resistance zone seen on the chart.
NSE:NIFTY
by PriteshPalan