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Niftyintradaytradesetup

NIFTY50: INSTITUTIONAL LEVELS FOR 02/12/2024Overview This trading system combines simplicity with powerful insights for accurate entries and exits. It is structured for active traders using the 5-minute timeframe who want to make clear, confident trading decisions in fast-moving markets. Key Strategy Guidelines Retest Entries: Aim to enter trades on retests rather than breakouts, offering better positioning. Multiple Confirmations: Use more than one confirmation to validate each trade, helping avoid impulsive decisions. ATM Options Focus: Stick to at-the-money (ATM) options or above for optimal liquidity and manageable risk. System Explanation This setup leverages volume, historical price action, and price ranges to pinpoint high-probability entry and exit points. This methodology is designed to reduce guesswork, allowing traders to manage trades with a consistent approach. How It Works: Entry/Exit Signals Color Coded Lines:Blue Line: Signals potential long entry. Red Line: Indicates potential short entry. Tip: Align these signals with additional confirmations from your trading strategy for optimal performance. Stop Loss and Take Profit Levels Stop Loss: Long Trades: Set your stop loss at the nearest red line below the entry point, or adjust based on whether the 5-minute candle crosses the red line. Short Trades: Use the blue line above as the stop loss. Take Profit: Long Entries:Target the next red line above or exit if other indicators suggest a prudent exit. Short Entries:Target the next blue line below following similar guidelines. Timeframe Recommendation This system is specifically optimized for the 5-minute timeframe, making it suitable for those trading shorter intervals with precision. Risk Disclaimer Trading involves high risk, and rapid price changes can lead to unexpected losses. Only trade with capital you can afford to lose, and carefully assess your financial situation and risk tolerance. Join the Community Discussion Engage with other traders to discuss strategies, share insights, and enhance your understanding of the markets. Let’s grow together as a community of traders. Original Content This trading system is the product of my own expertise and rigorous testing. It’s a unique approach developed through real market experience to offer a clear edge in trading.
NSE:NIFTY
by tony_fx_sm
7
Nifty Intraday Support & Resistance Levels for 02.12.2024On Friday, Nifty opened on a positive note, making an open = low of 23927.15, and rallied to a high of 24188.45, closing strong at 24131.10 with a gain of 217 points. After filling the gap and testing the 15m demand zone (23856.15 - 23940.30) on Thursday, Nifty rebounded 315 points from the previous low. On the Monthly Chart, Nifty formed a bearish candle for November, with a long downside shadow, a small upper shadow, and a close below October levels. Demand/Support Zones Near Demand/Support Zone (15m): 23661.75 - 23731.25 Far Demand/Support Zone (75m): 23447.15 - 23578.60 Near Support: 23189.88 (61.8% FIBO) Far Demand/Support Zone (Daily): 22642.60 - 22910.15 Supply/Resistance Zones Near Supply/Resistance Zone (125m): 24257.65 - 24354.55 Far Supply/Resistance Zone (75m): 24447.65 - 24537.60 Far Supply/Resistance Zone (Daily): 24567.65 - 24978.30 (inside weekly supply) Far Supply/Resistance Zone (75m): 24636.75 - 24741.45 (inside daily supply) Far Supply/Resistance Zone (Weekly): 24567.65 - 25234.05 Key Levels to Watch: Upside Breakout: Above 24355 for a move toward 24448 or higher. Downside Support: A fall below 23927 may test 23731 or lower.
NSE:NIFTY
by PriteshPal
Nifty Trading Strategy for 02nd December 2024Nifty Trading Strategy "When the gap between S3 and R3 is narrow, the market tends to show a strong trend, either upward or downward." Buy Signal: Initiate a buy position above the high of the 15-minute candle that closes above 24225. This indicates a potential upward trend and a good entry point for long positions. Sell Signal: Initiate a sell position below the low of the 15-minute candle that closes below 24060. This indicates a potential downward trend and a good entry point for short positions. Support Levels: 23897: This is a crucial support level. If the price falls to this level, it might experience a rebound. 23440: Another significant support level where the price might find strong buying interest. Resistance Level: 24300: This is a crucial resistance level. If the price approaches this level, it might face selling pressure. Disclaimer: Trading in financial markets involves a significant amount of risk and can result in substantial losses. The information provided is for educational purposes only and should not be considered as financial advice. Past performance is not indicative of future results. Always conduct your own research and consult with a professional financial advisor before making any trading decisions. Additionally, please note that I am not SEBI registered.
NSE:NIFTY
by ramkkyy
#Nifty directions and levels for November 29th.Good morning, friends! 🌞 Here are the market directions and levels for November 29th. Market Overview: The global market is maintaining a bullish sentiment (based on the Dow Jones only), while our local market shows a moderately bearish sentiment. Today, the market may open with a neutral to slightly gap-up start, as the Gifty Nifty indicates a positive 20 points. In the previous session, the market started with a positive bias, but this did not sustain, and it fell drastically. If we consider yesterday's structure, there is bearish pressure. However, the overall structure suggests that we might see a time adjustment movement, meaning we can expect a minor pullback and some consolidation today. I will explain this in the chart. Both Nifty and Bank Nifty are showing similar structural sentiment. Current View: The current view indicates that if the market starts neutral or if the initial market takes a pullback, we can expect a minimum pullback of 38% to 50%. Structurally, it could reject there. If that happens, we can expect some consolidation between the previous low and the pullback high. This is the basic structure, > but the notable point is the 38% Fibonacci level. the 38% Fibonacci level is critical because sharp corrections typically struggle to decisively break this level. Therefore, if the market pulls back but then breaks the previous low without breaching the 38% Fibonacci level, the correction is likely to continue, making this a key area to watch. Alternate View: The alternate view suggests that if the initial market declines and breaks the previous low, the correction will likely continue to the level of the minor demand zone, which is a support level. However, if it consolidates around there, the correction is likely to continue.
NSE:NIFTY
by Manickamtraders
NIFTY50: INSTITUTIONAL LEVELS FOR 29/11/2024Overview This trading system combines simplicity with powerful insights for accurate entries and exits. It is structured for active traders using the 5-minute timeframe who want to make clear, confident trading decisions in fast-moving markets. Key Strategy Guidelines Retest Entries : Aim to enter trades on retests rather than breakouts, offering better positioning. Multiple Confirmations : Use more than one confirmation to validate each trade, helping avoid impulsive decisions. ATM Options Focus : Stick to at-the-money (ATM) options or above for optimal liquidity and manageable risk. System Explanation This setup leverages volume, historical price action, and price ranges to pinpoint high-probability entry and exit points. This methodology is designed to reduce guesswork, allowing traders to manage trades with a consistent approach. How It Works: Entry/Exit Signals Blue Line : Signals potential long entry. Red Line : Indicates potential short entry. Tip : Align these signals with additional confirmations from your trading strategy for optimal performance. Stop Loss and Take Profit Levels Stop Loss: Long Trades : Set your stop loss at the nearest red line below the entry point, or adjust based on whether the 5-minute candle crosses the red line. Short Trades : Use the blue line above as the stop loss. Take Profit: Long Entries :Target the next red line above or exit if other indicators suggest a prudent exit. Short Entries :Target the next blue line below following similar guidelines. Timeframe Recommendation This system is specifically optimized for the 5-minute timeframe, making it suitable for those trading shorter intervals with precision. Risk Disclaimer Trading involves high risk, and rapid price changes can lead to unexpected losses. Only trade with capital you can afford to lose, and carefully assess your financial situation and risk tolerance. Join the Community Discussion Engage with other traders to discuss strategies, share insights, and enhance your understanding of the markets. Let’s grow together as a community of traders. Original Content This trading system is the product of my own expertise and rigorous testing. It’s a unique approach developed through real market experience to offer a clear edge in trading.
NSE:NIFTY
by tony_fx_sm
NIFTY Intraday Trade Setup For 29 Nov 2024NIFTY Intraday Trade Setup For 29 Nov 2024 Sell_1_From 24160 Invalid-Above 24210 T- 23950 Bearish-Below 23840 Invalid-Above 23890 T- 23570 NIFTY has closed on a bearish note with 1.49% cut today. Yesterday we discussed that we need last 3 days range breakout in order to get a directional move. Range broke downside and sell triggered below 24120 and hit first target very smoothly. Tomorrow in case of a pullback towards 24160 we will short from golden fib zone. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes below 23840 then we will short for the target of 23570. In case of pullback we will short from 24160. T- 23570. 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 November 28th.Good morning, friends! 🌞 Here are the market directions and levels for November 28th. Market Overview: The global markets are maintaining a bullish sentiment (based on the Dow Jones only), and our local market is also exhibiting a moderately bullish sentiment. Today, the market may open with a neutral to slightly gap-up start, based on the Nifty showing a positive 30 points. "There were no significant changes in the previous session. Both Nifty and Bank Nifty remained in consolidation yesterday as well." What about today? We are still within a range, so until we break out of this range, we shouldn't expect a significant move. However, some bullish patterns are forming, such as the flag pattern, cup and handle, and a triangle breakout structure. These indicate that if the market breaks the range, it could lead to a solid movement. Conversely, on the downside, flat patterns are forming, suggesting that if the market declines, we can expect further range continuation. Let’s explain this on the chart. Both Nifty and Bank Nifty are showing similar structural sentiment. Current View: The current view suggests that if the market declines, we can consider it a flat pattern, which means the range market will likely continue. Usually, flat patterns indicate a time correction, so even if the market declines, we can expect a pullback around the demand zone. This is our first variation. Alternate View: The alternate view suggests that a bullish cup and handle pattern is forming. If the market breaks above the top of the range, we can expect a rally continuation. However, we should note the breakout structure: if it breaks the range with a solid candle, we can expect a rally with some minor consolidation. On the other hand, if it breaks the range gradually, it may not rise significantly.
NSE:NIFTY
by Manickamtraders
4
Nifty Intraday Support & Resistance Levels for 28.11.2024On Wednesday, Nifty opened flat and traded within a narrow range. It touched a low of 24145.65 and a high of 24354.55, eventually closing at 24274.90, up by 80 points from the previous close. For the past three days, Nifty has been consolidating in the 24100 - 24350 range, signalling indecision. Both the Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain sideways, indicating the market is waiting for a breakout. Demand/Support Zones Near Demand/Support Zone (15m): 23856.15 - 23940.30 Near Demand/Support Zone (15m): 23661.75 - 23731.25 Far Demand/Support Zone (75m): 23447.15 - 23578.60 Near Support: 23189.88 (61.8% FIBO Level) Far Demand/Support Zone (Daily): 22642.60 - 22910.15 Supply/Resistance Zones Near Supply/Resistance Zone (75m): 24447.65 - 24537.60 Far Supply/Resistance Zone (Daily): 24567.65 - 24978.30 (inside weekly supply) Far Supply/Resistance Zone (75m): 24636.75 - 24741.45 (inside Daily supply) Far Supply/Resistance Zone (Weekly): 24567.65 - 25234.05 A breakout beyond 24350 or a breakdown below 24100 could set the tone for the next directional move.
NSE:NIFTY
by PriteshPal
NIFTY Intraday Trade Setup For 28 Nov 2024NIFTY Intraday Trade Setup For 28 Nov 2024 Bullish-Above 24360 Invalid-Below 24310 T- 24632 Bearish-Below 24120 Invalid-Above 24170 T- 23848 NIFTY has closed on a slight positive note with 0.33% gain today. Since last 3 sessions index has been trading sideways between 24350 and 24120. In daily TF index is consolidating just below 50 EMA. On breakout of 50 EMA in daily TF overall bullish sentiment will be triggered across sectors. 24360 and 24120 are intraday levels for tomorrow. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 24360 then we will long for the target of 24632. For selling we need a 15 Min candle closes below 24120. T- 23848. 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 November 27th.Good morning, friends! 🌞 Here are the market directions and levels for November 27th. Market Overview: The global markets are showing bullish sentiment (based on the Dow Jones only), and our local market has maintained a moderately bullish sentiment. Today, the market may open with a neutral to slightly gap-up start, based on the Nifty showing a positive 40 points. There have been no significant changes in the last session. In the previous session, both Nifty and Bank Nifty consolidated after the decline. What about today? If you look at the Nifty structure, there is consolidation after the long rally. Structurally, it may continue further until it breaks the consolidation range. If it breaks either to the upside or downside, we can follow that direction. This is the basic structure; let's look at it on the chart. Nifty Current View: Even if the market opens with a gap-up, it could decline initially. If this happens, the range market will continue between the previous high and the demand zone. In this case, if it breaks the demand solidly, then 24006 will act as strong support. Alternate View: The alternate scenario suggests that if the market sustains the gap-up and breaks the 24303 level, we can expect further pullback continuation to the 38% Fibonacci level. This is a major resistance. After the rally, if it rejects there, we can expect a minimum correction of 23% to 38% in the minor swing. On the other hand, if it sustains or breaks this level(38%), then the rally will likely continue.
NSE:NIFTY
by Manickamtraders
Nifty Intraday Support & Resistance Levels for 27.11.2024On Tuesday, Nifty opened with a gap-up at 24343.30, which also marked the day's high. However, the momentum did not sustain, leading to a low of 24125.40, before closing at 24194.50, down by 27 points from the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is also sideways. The Demand & Supply Zones remain unchanged from the previous analysis. Demand/Support Zones Near Demand/Support Zone (15m): 23856.15 - 23940.30 Near Demand/Support Zone (15m): 23661.75 - 23731.25 Far Demand/Support Zone (75m): 23447.15 - 23578.60 Near Support: 23189.88 (61.8% FIBO) Far Demand/Support Zone (Daily): 22642.60 - 22910.15 Supply/Resistance Zones Near Supply/Resistance Zone (75m): 24447.65 - 24537.60 Far Supply/Resistance Zone (Daily): 24567.65 - 24978.30 (inside Weekly Supply Zone) Far Supply/Resistance Zone (75m): 24636.75 - 24741.45 (inside Daily Supply Zone) Far Supply/Resistance Zone (Weekly): 24567.65 - 25234.05
NSE:NIFTY
by PriteshPal
Nifty Intraday Levels | 26-NOV-2024Nifty Options Scalping 1️⃣ Zones to Watch: 👉Green Zone: Institutional support 👉Red Zone: Institutional resistance 👉Gap: 100-200 points between zones 👉Zone Creation: Based on pivot points and Fibonacci 👉Chart: Use Nifty futures chart for reference 2️⃣ Trade Execution: 👉Order Flow: Triggers trades 👉Timeframes: 1-min & 5-min for scalping 👉Risk-Reward: 1:2 (Risk 1 to gain 2) 👉Strike Price: ATM or slightly ITM options 👉Position Sizing: Adjust to risk tolerance 3️⃣ Rules: 👉9:15 AM Sharp: Ready for market open 👉Risk Management: Top priority 👉Quick Trades: "Morning breakfast" scalps 👉Stop-Loss: 10 points #ThankU For Checking Out Our IDEA , We Hope U Liked IT 📌 🙏 FOLLOW for more content! 👍 LIKE if you found it useful! ✍️ COMMENT below with your thoughts and feedback
NSE:NIFTY1!
by ReviveTraders
NIFTY50: INSTITUTIONAL LEVELS FOR 26/11/2024Overview This trading system combines simplicity with powerful insights for accurate entries and exits. It is structured for active traders using the 5-minute timeframe who want to make clear, confident trading decisions in fast-moving markets. Key Strategy Guidelines Retest Entries : Aim to enter trades on retests rather than breakouts, offering better positioning. Multiple Confirmations : Use more than one confirmation to validate each trade, helping avoid impulsive decisions. ATM Options Focus : Stick to at-the-money (ATM) options or above for optimal liquidity and manageable risk. System Explanation This setup leverages volume, historical price action, and price ranges to pinpoint high-probability entry and exit points. This methodology is designed to reduce guesswork, allowing traders to manage trades with a consistent approach. How It Works: Entry/Exit Signals Blue Line : Signals potential long entry. Red Line : Indicates potential short entry. Tip : Align these signals with additional confirmations from your trading strategy for optimal performance. Stop Loss and Take Profit Levels Stop Loss: Long Trades : Set your stop loss at the nearest red line below the entry point, or adjust based on whether the 5-minute candle crosses the red line. Short Trades : Use the blue line above as the stop loss. Take Profit: Long Entries :Target the next red line above or exit if other indicators suggest a prudent exit. Short Entries :Target the next blue line below following similar guidelines. Timeframe Recommendation This system is specifically optimized for the 5-minute timeframe, making it suitable for those trading shorter intervals with precision. Risk Disclaimer Trading involves high risk, and rapid price changes can lead to unexpected losses. Only trade with capital you can afford to lose, and carefully assess your financial situation and risk tolerance. Join the Community Discussion Engage with other traders to discuss strategies, share insights, and enhance your understanding of the markets. Let’s grow together as a community of traders. Original Content This trading system is the product of my own expertise and rigorous testing. It’s a unique approach developed through real market experience to offer a clear edge in trading.
NSE:NIFTY
by tony_fx_sm
Nifty Intraday Support & Resistance Levels for 26.11.2024On Monday, Nifty opened with a massive gap-up of 346 points, breaking through the 75m and Daily Supply Zones. It touched a high of 24351.55 and a low of 24135.45 before closing at 24221.90, gaining 314 points from the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) has shifted from Negative to Sideways, signalling cautious optimism. Demand/Support Zones Near Demand/Support Zone (15m): 23856.15 - 23940.30 Near Demand/Support Zone (15m): 23661.75 - 23731.25 Far Demand/Support Zone (75m): 23447.15 - 23578.60 Near Support (61.8% FIBO): 23189.88 Far Demand/Support Zone (Daily): 22642.60 - 22910.15 Supply/Resistance Zones Near Supply/Resistance Zone (75m): 24447.65 - 24537.60 Far Supply/Resistance Zone (Daily): 24567.65 - 24978.30 (inside Weekly Supply) Far Supply/Resistance Zone (75m): 24636.75 - 24741.45 (inside Daily Supply) Far Supply/Resistance Zone (Weekly): 24567.65 - 25234.05
NSE:NIFTY
by PriteshPal
Nifty Intraday Support & Resistance Levels for 25.11.2024On Friday, Nifty opened with a gap-up, hitting a low of 23359 in the first 15 minutes before a strong bull rally pushed it to a high of 23956.10, breaking the 15m Supply Zone and entering the 30m Supply Zone highlighted in the previous analysis. It closed at 23907.25, gaining an impressive 557 points over the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) continues to be negative. As highlighted in earlier posts, "If it holds the support (23350), we might see some bullish momentum till 23900 - 24250." Nifty delivered on this expectation, hitting the target of 23900. However, with the Daily Trend (50 SMA) still negative, caution is advised at levels above 24000 unless the trend turns positive and sustains. Demand/Support Zones Near Demand/Support Zone (15m): 23661.75 - 23731.25 Far Demand/Support Zone (75m): 23447.15 - 23578.60 Far Support (61.8% FIBO): 23189.88 Far Demand/Support Zone (Daily): 22642.60 - 22910.15 Supply/Resistance Zones Near Supply/Resistance Zone (Daily): 24004.60 - 24336.80 Near Supply/Resistance Zone (75m): 24106.90 - 24242.00 Far Supply/Resistance Zone (75m): 24447.65 - 24537.60 Far Supply/Resistance Zone (75m): 24636.75 - 24741.45
NSE:NIFTY
by PriteshPal
#Nifty directions and levels for November 22nd.Good Morning, Friends! 🌞 Here are the market directions and levels for November 22nd. Market Overview: The global markets are showing moderately bullish sentiment (based on the Dow Jones only), while our local market has maintained a bearish sentiment. Today, the market may open with a neutral to slightly gap-up start, based on the Gifty Nifty showing a positive 100 points. > In the previous session, both Nifty and Bank Nifty experienced a significant fall. However, Bank Nifty had a solid pullback, making the structural setups for both indices different. What about today? Looking at Nifty's structure, there is consolidation after a long correction. Usually, this type of structure indicates a trend continuation. On the other hand, Bank Nifty had a solid pullback, suggesting further upward momentum. The gap-up indication from SGX Nifty supports this view. Thus, both charts are showing different directions. My personal opinion is: > if the market declines initially, it might decline further, but the momentum will be reduced. > Conversely, if the market sustains the gap-up, then we can expect a rally continuation, but only if it has a solid candle structure Let me explain this further with the charts. Nifty: Current View As per the structure If the market declines initially, we can expect a correction. However, the best confirmation would come if it breaks yesterday's low with consolidation or a solid candle structure. If this happens, the next target could be a minimum of 23082. Alternate View: The alternate scenario suggests that if the market sustains the gap-up and breaks the 38% Fibonacci level with a solid breakout structure, we can expect further pullback continuation with some consolidation. On the other hand, if it breaks the 38% level with gradual movements, it could consolidate between the 50% Fibonacci level and the previous low.
NSE:NIFTY
by Manickamtraders
3
#nifty50 - 22th November!!NSE:NIFTY Observe first, then understand, then implement 👍🏻 Chart contains support and resistance levels ( understand how it works 👇🏻) Support and resistance are key concepts in technical analysis used to identify potential price levels where assets may reverse or stall. Support: -Definition: A support level is a price point where buying interest is strong enough to overcome selling pressure, preventing the price from falling further. - Indicators: Support levels can be identified through historical price data, trend lines, or moving averages. - Behavior: When a price approaches support, it may bounce back up. If broken, it can become a new resistance level. Resistance: - Definition: A resistance level is a price point where selling interest is strong enough to overcome buying pressure, preventing the price from rising further. - Indicators: Similar to support, resistance levels can be identified through past price action, trend lines, or moving averages. - Behavior: When the price approaches resistance, it may retreat. If broken, it can turn into a new support level. Importance: - Trade Decisions: Traders use these levels to make buy or sell decisions, set stop-loss orders, and identify potential profit targets. - Market Psychology: Support and resistance levels reflect market sentiment and the balance between supply and demand. Understanding these concepts can enhance trading strategies and improve decision-making. Note SEBI Registere 🙏🏻
NSE:NIFTY
by thetradeforecast
1
21st Nov 2024 - Week ended as per plan, but did not make moneyNifty Stance Bearish ️⬇️ Remember my last week's position? Make 11170 if Nifty ends below 23555. Well, we ended the week @ 23346, but I did not make money. In fact, I exited the position at a loss of 3000 on 19th Nov when we shot up. My stance is still bearish, thought will get into fresh positions tomorrow and not today as there was clouded news & events today. For starters, Adani was indicted by New York Court and that sent the ADANIENT crashing -22.61%. Let us give a day or two for the news to settle and then we can take a positional bias, as it stands there could be a minor recovery to Adani stocks tomorrow and a possible short covering. In the grand scheme of things, Nifty continues its downward trajectory hitting a new session low of 22263.  22781 is my nearest strong support and I sincerely hope we go there by the next week. The Total correction from the ATH is close to 12% now and the SIP'ers who started 2 years back in Nifty index fund may be back to zero returns. A further fall of 3% may put them underwater and that would be the right time to see if they panic sell or not. I am quite sure that these last-stage investors may not have seen a bear market in their life and would have committed their every penny to this mad bull run, which just ran out of fuel.
NSE:NIFTYShort
by viswaram
Nifty Intraday Support & Resistance Levels for 22.11.2024On Thursday, Nifty opened on a negative note, reaching a high of 23,507.30 before tumbling to a day low of 23,263.15 within the first 30 minutes, breaking the Daily Demand Zone support at 23,350. It closed at 23,349.90, down by 168 points from the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) continues to be negative. The break below the daily demand zone signals ongoing selling pressure, with potential for further downside unless key support levels hold. Demand/Support Zones Near Support: 23,189.88 (61.8% Fibonacci level) Far Support Zone (Daily): 22,642.60 - 22,910.15 Supply/Resistance Zones Near Resistance (15m): 23,686.15 - 23,726.90 Far Resistance (30m): 23,908.65 - 23,992.50 Far Resistance (75m): 24,106.90 - 24,242.00 Far Resistance (75m): 24,447.65 - 24,537.60 Far Resistance (75m): 24,636.75 - 24,741.45
NSE:NIFTY
by PriteshPal
#Nifty directions and levels for November 21stGood Morning, Friends! 🌞 Here are the market directions and levels for November 21st. Market Overview: There are no significant changes in the global market sentiment. The Dow Jones is showing a moderately bearish trend, and our local market is also indicating a bearish sentiment. Today, the market may open neutral to slightly gap-down, as Gift Nifty is showing a negative 40-point movement. In the previous session, both Nifty and Bank Nifty experienced huge oscillations. Structurally, the market closed between minor swings, which makes it seem like a range-bound market. What about today? We are still in a minor downtrend. If the market opens with a gap-down, the same bearish direction may continue. On the other hand, if it takes a pullback initially, we might see some consolidation within the previous session's range. Let’s explain this further with charts. Both Nifty and Bank Nifty are showing similar structural sentiment. Nifty Current View: The current view suggests that if the market declines initially, we can expect a minimum of 23,275 (MDZ) if it breaks the level of 23,399. Notably, if it reaches this level with gradual movement (MDZ), we can expect a minimum bounce back of 23% to 38%. On the other hand, if it reaches this level with a solid structure or consolidates around here, then the correction is likely to continue. This is our first variation. Alternate View: The alternate variation suggests that if the market pulls back initially, we can expect a range-bound market between the previous session's range. This means if it breaks 23,585, it will reach 23,713. After that, if it gets rejected there, it will close where it opened.
NSE:NIFTY
by Manickamtraders