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NIFTY Intraday Trade Setup For 18 Jun 2024NIFTY Intraday Trade Setup For 18 Jun 2024 Bullish-Above 23500 Invalid-Below 23450 T- 23725 Bearish-Below 23330 Invalid-Above 23380 T- 23120 NIFTY has closed on a slight positive note with 0.45% gain last week. It was totally sideways as whole week's range was less than 300 points. It has formed a Pinbar candle in daily TF on Friday which indicates a bullish start of the week on Tuesday most probably. Friday's low will be an important swing low in terms of bearish reversal on Tuesday. Between 23500 and 23330 we will maintain a non-directional approach. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 23500 then we will long for the target of 23725. For selling we need a 15 Min candle close below 23330. T- 23125. 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 prediction for tomorrow ( Monday ) 17 JunAs we discussed in the morning, NIFTY traded in a sideways-bullish zone. If we look at the chart now: The market is trading in a Bullish sideways uptrending channel. The market is continuously taking support at 50 EMA. Until Marklet is inside the channel, it's going to be sideways. The market is in the middle of the channel, which might also act as good resistance. But if it breaks 23472 to the upside, it might go till 23600. However, if it breaks the channel and 50 EMA to the downside, there is a high probability that it's going to touch 200 EMA with a sharp fall. Support levels: 23338, 23199, and 23174 resistance levels: 23472, 23600 If we look at the OI data: PCR = 1.42, which has increased from 1.17, shows a bullish sign in the market. 23400 is max-pain. 23500 has significant CE writing at higher levels. On the other hand, 23300 and 23000 have heavy PE writing. VIX has also decreased significantly, which indicates volatility is being controlled. I am expecting the market: Case 1 : Sideways in the up-trending channel Case 2 : Bearish if it breaks the channel to the downside. Reason: RSI 40-60 shows a bullish structure. Price > EMA(13, 50, 200), which indicates a Bullish market structure. PCR = 1.42 has risen from 1.12 and shows signs of bullishness. Price > VWAP shows a Bullish market structure. Verdict: Indecisive Case 1 : Sideways in the up-trending channel Case 2 : Bearish if it breaks the channel to the downside. Plan of action: Case 1 : Sideways: Sell 23450 PE & 23450 CE (Hedge it with 10/- premium options) Case 2 : Exit opposite position on either side it breaks.
NSE:NIFTY
by finnova_
NIFTY prediction for today 14 JunAs we discussed yesterday, Nifty spent on an up-trending channel and ended sideways. If we look at the chart now: The market is in the channel right now. If it breaks down to the downside, it will give a nice bearish momentum. Support levels: 23303, 23233, and 23152 resistance levels: 23439, 23481 I am expecting the market: Case 1: Sideways in channel. Case 2: Bearish if it breaks the channel to the downside. Reason: RSI 46-60 shows a sideways structure. Price ~ EMA(13) but greater than EMA(200), which indicates the market can correct itself till 200 EMA. EMA Bearish crossover of EMA(13, 50). PCR = 1.17 which shows a bullish sign in the market. Price ~ VWAP shows an indecisive market structure. Verdict: Sideways in channel. Bearish if it breaks the channel to the downside. Plan of action: Case 1 : Sideways: Sell 23350 PE & 23400 CE (Hedge it with 20/- premium options) Case 2 : Exit 23350 PE if it breaks to the downside.
NSE:NIFTY
by finnova_
#Nifty directions and levels for June 14th.Good morning, friends! 🌺🍬 Here are the directions for June 14th: There are still no significant changes in the global and our markets. They are maintaining a moderately bullish sentiment. Today, the market may open with a neutral start, as indicated by GiftNifty, which shows an increase of 6 points (at 8.00 AM). Both Nifty and Bank Nifty still have the same range-bound sentiment, but the wave structures are a little bit different from each other. The range market has many different patterns in the wave theory, so today we can see the sentiment separately. Nifty has closed the range-bound structure, even though it opened with a long gap-up in the previous session. As per the wave structure, the 5-wave structures are completed in the diagonal pattern, indicating a correction. In this case, if the market declines initially, we can expect a minimum of 78% retracement in the minor swing. This is the basic structure. However, there is another variation: if the market finds support around the immediate support level (61%), then the range market will likely continue. The alternate variation also suggests a range market. Even if the initial market takes a pullback, structurally it won't be sustained. If we want to describe it, it could be a diagonal extension. We can expect the maximum pullback level of 23,516. Again, what I'm expecting here is that it won't be sustained, but if it breaks that level solidly, then we can try a breakout entry with a target of 23,572 to 23,606.
NSE:NIFTY
by Manickamtraders
NIFTY Intraday Trade Setup For 14 Jun 2024NIFTY Intraday Trade Setup For 14 Jun 2024 Bullish-Above 23500 Invalid-Below 23450 T- 23665 Bearish-Below 23350 Invalid-Above 23400 T- 23075 NIFTY has closed with a gain of 0.33% gain today. It was another sideways market, being 4th consecutive day. It is currently sideways in the plotted channel. Breakout of this is needed for a good momentum either side. We have a holiday on Monday so there can volatile moves due to multiple expiries on the same day. 23500 and 23350 will be range to look for breakout or else it will sideways again. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 23500 then we will long for the target of 23665. For selling we need a 15 Min candle close below 23350. T- 23210 & 23075. 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
13 June 2024  -  Nifty and Banknifty New ATHs almost everydayNifty Stance Bullish ⬆️ Nifty continued to make new highs every other day this week, overall it has been a steady week with very few wild swings. Just compare the swing range of the previous week vs this, and you will understand what I am talking about. The new high is 23481 hit at the open today and then we fell almost 126pts ~ 0.54% , the beauty is that we did not go red today, even when BankNifty was toggling between red and green. During this expiry, we managed to gain 550pts ~ 2.41%. Not only did we manage to recover from the 8.74% intraday fall on election counting day, but we also managed to close 3.77% above 31st May levels and that really sends a strong message to all investors. The stance continues to be bullish, but it seems like Nifty is waiting for the fundamentals to catch up. At present, there are no major risks or challenges at the local level. All eyes are on global macros.
NSE:NIFTYLong
by viswaram
#Nifty directions and levels for June 13th.Good morning, friends! 🌺🍬 Here are the directions for June 13th: There are still 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 83 points. Both Nifty and Bank Nifty still have the same range-bound sentiment. As per the wave structure, the consolidation might be the 4th correction and a 5th ending diagonal pattern. So today, if the pullback rejects around the immediate resistance level(23468 for nifty), we can expect a trend reversal. If you want confirmation of the reversal, you can apply EMA20 or a 38% Fibonacci level breakout in the minor swing. If you feel this signal shows slow movement, you can use structure analysis. If the pullback moves with grinding, it might reverse there. However, everything is a possibility for reversal. We can also see a continuation variation: if the pullback sustains there or if it has a sharp and solid structure, then the pullback will likely continue further. This is the first variation, meaning if the market sustains the gap-up, we can expect these sentiments. On the other hand, if the gap-up doesn't sustain or if it declines initially, then the range-bound market might continue further.
NSE:NIFTY
by Manickamtraders
NIFTY Intraday Trade Setup For 13 Jun 2024NIFTY Intraday Trade Setup For 13 Jun 2024 Bullish-Above 23450 Invalid-Below 23400 T- 23645 23850 Bearish-Below 23200 Invalid-Above 23250 T- 22880 NIFTY has closed with 0.25% gain today. It was another overall sideways day as where it opened via gap up, settle at the same place EOD. This week is all about premium adjustment to their values. Tomorrow in case 23450 is taken out in the upside then chances of a trendy move is high, most probably towards 23850. In case 23200 is sustained in the downside, we will see move towards 22900 zone. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 23450 then we will long for the target of 23645 and 23850. For selling we need a 15 Min candle close below 23200. T- 22880. 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
Nifty50 Support And Resistance 13-June-24Nifty50 Support And Resistance 13-June-24 Please find below simple resistance and support: This is only for education purpose. Do your own research before investing or trading. I AM NOT SEBI REGISTERED ANALYST, SO BEFORE TAKING ANY DECISION CONSULT ANY PROFESSIONAL. We Strictly Recommend You Not To Make Any Decisions, Financial, Investments, Trading, Or Otherwise. Please Understand That Using This Information Would Be Totally At Your Own Risk. **************************************************************************** 𝐃𝐈𝐒𝐂𝐋𝐀𝐈𝐌𝐄𝐑: We/I are not 𝐒𝐄𝐁𝐈 ( Securities and Exchange Board of India ) Registered. The Information Provided Is For Educational & Instructive Purposes Only. Our Intention Is Not To Provide Any Financial Advice, Investment Advice, Training Advice, Or Any Other Advice. This Is General Information And Is Not Explicit To You Or Anyone Else. Without The Consultation Of Any Professional, We Strictly Recommend You Not To Make Any Decisions, Financial, Investments, Trading, Or Otherwise. Please Understand That Using This Information Would Be Totally At Your Own Risk. Do Not Take Any Action Unless You Are Set Up To Continue An 'All Out Misfortune " or "Total Loss". Your Misfortune Could Incorporate Cash You Contributed Just As Commissions And Exchange Charges
NSE:NIFTY
by solitaryverma
Nifty weekly expiry analysis for 13/06/2024.Nifty for the last 3 trading session has been forming doji candle around the higher levels. The market is holding the upper levels but is not moving much above the previous day high. Single hourly candle is giving a move and after that there are many halt candles. Sentiments are looking negative as the RSI is showing a bearish divergence and market is unable to hold the higher levels. Major support levels :- 23235, 23160 Nifty is still trading above the moving averages. Moving averages strategy may trigger and can give the targets. If nifty starts trading below the first support zone, a bearish entry can be made with the target of next support zone. In case of a gap up opening, today's high will act as the resistance and in case is starts trading above the high, bullish trade with 50-60 points as SL can be carried in less quantity. There are chance of a retracement in the market. If there is a gap down opening below the support zone, wait for the market to get rejection from the zone and trade accordingly. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Nifty Support & Resistance Levels for 12.06.2024Nifty made multiple attempts to cross and sustain above 23,300 - 23,400 but failed due to selling pressure at higher levels. It faced rejection from the supply zone mentioned in the last post and has now created a fresh supply zone at similar levels. The weekly trend (50 SMA) remains positive, while the daily trend is sideways. Support/Demand Levels: Near Support/Demand Zone (15m): 23,037 - 23,078 (remains the same) Far Support/Demand Zone (125m): 22,642 - 22,911 Farther Support/Demand Zone (125m): 22,213 - 22,445 Resistance/Supply Levels: Nearest Resistance/Supply Zone (15m): 23,363 - 23,390
NSE:NIFTY
by PriteshPal
#Nifty directions and levels for June 12th.Good morning, friends! 🌺🍬 Here are the directions for June 12th: There are no significant changes in the global and our market. It is still maintaining a moderately bullish sentiment. Today, the market may open with a neutral to slightly gap-down start, as indicated by GiftNifty, which shows a decrease of 40 points. We are going to follow yesterday's sentiments. Nifty and BankNifty both consolidated in the previous session as well. It's a range-bound market, so the market may consolidate within the range of the past two trading sessions. However The proper statement is: if the market opens neutral, or if it takes support around the immediate support level, then we can expect a minimum of a 78% bounce back in the minor swing. the rally will continue only If it breaks the previous high. otherwise the range only will continue. Alternatively, if the market takes a sharp decline initially, we can expect the correction to continue with minor consolidations around 23,029 for Nifty. Here, the structure is important. If it has a solid reddish candle, we can expect a correction; otherwise, the range may continue further.
NSE:NIFTY
by Manickamtraders
1
#Nifty directions and levels for June11th.Good morning, friends! 🌺🍬 Here are the directions for June 11th: There are no significant changes in the global market. It is still maintaining a moderately bullish sentiment based on the Dow Jones, while our local market also maintains a bullish trend. Today, the market may open with a neutral start, as indicated by GiftNifty, which shows an increase of 30 points. Nifty and BankNifty both have the same sentiment; both consolidated in the previous session. So, as usual, structurally it’s a bullish trend, but we should wait for the range breakout. If it breaks, we can expect the rally to continue. If you want precise directions, here is a step-by-step guide: > In the short term, the market is moving within a minor range. If the market opens neutrally, we can initially expect range continuation. That means if the market takes a pullback initially or if it takes support around the immediate support level, the market may bounce back a minimum of 78% in the minor swing. > The rally will continue only if it breaks the previous high. > The correction may be expected only if the market takes a sharp decline initially. If the decline sustains, we can expect the correction to continue with minor consolidations around 23,029 for Nifty.
NSE:NIFTY
by Manickamtraders
Nifty Support & Resistance Levels for 11.06.2024Nifty made a new all-time high of 23,411.90 but wasn't able to close above the previous high of 23,338.70 due to profit booking at higher levels. The weekly trend (50 SMA) remains positive, while the daily trend is sideways. Support Levels: Near Support Zone (15m): 23,037 - 23,078 (remains the same) Far Support Zone (125m): 22,642 - 22,911 Farther Support Zone (125m): 22,213 - 22,445 Resistance Levels: Nearest Resistance Zone (15m): 23,341 - 23,378
NSE:NIFTY
by PriteshPal
NIFTY Intraday Trade Setup For 11 Jun 2024NIFTY Intraday Trade Setup For 11 Jun 2024 Bullish-Above 23420 Invalid-Below 23370 T- 23630 Bearish-Below 23220 Invalid-Above 23270 T- 22880 NIFTY has closed on a slight bearish note with 0.13% cut today. It was a range bound session of less than 200 points range. Since it has shown some bearish sign from where the steep fall was triggered. Below 23220 we may test the plotted half bat PRZ near 22880-22900 zone. 22880 will act as an important intraday support. In case 23420 is triggered in the upside then chance of a fresh run in the coming days. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 23420 then we will long for the target of 23630. For selling we need a 15 Min candle close below 23220. T- 22880. 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 June 10th.Good morning, friends! 🌺🍬 Here are the directions for June 10th: There are no significant changes in the global market. It is still maintaining a moderately bullish sentiment based on the Dow Jones, while our local market also maintains a bullish trend. Today, the market may open with a neutral to slightly gap-down start, as indicated by GiftNifty, which shows a decrease of 40 points. Nifty and BankNifty both have the same sentiment, with no significant changes in direction. Nifty has closed near its all-time high. Psychologically, this is a major resistance level. The current picture suggests a range-bound movement rather than a clear direction because the immediate resistance levels and wave structures are somewhat uncertain, like a cat on the wall. Let me describe the possible directions one by one. Let's look at the directions: > If the market breaks the level of 23,401, either with consolidation or a solid breakout, we can expect a move to a minimum of 23,503, reaching the supply zone. > On the other hand, if the market sustains the gap-down or if it rejects around 23,401 (if an initial pullback occurs), then we can expect a minimum correction of 38%. >According to the structure, the 38% level could act as strong resistance in a trending market, so if the market finds support around 38%, we can expect the rally to continue with some consolidation. My personal opinion is that if the market takes a correction, we can expect a minimum move to the 78% Fibonacci level. It may consolidate around either the 38% or 50% level, but it won't sustain for long.
NSE:NIFTY
by Manickamtraders
2