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Niftyintradaytradesetup

25 Apr 2024– Nifty50 gets a stance upgrade, bullish! 🐂🐂🐂Nifty Analysis - Stance Bullish ⬆️ Recap from yesterday: "For tomorrow, we wish to maintain the neutral stance and look for bearish opportunities if 22295 is getting broken. If the index moves up, 22519 would be our first level to watch for." Kotak Bank started the day with cuts of -10% due to the RBI news impact from yesterday. The spillover effect was visible on all Nifty components prompting a gap down open. It was the consensus trade and we were all ready for it. The first surprise came when we closed the gap by 09.43 even while Kotak was at -10%. The excess trade due to the short-covering bounce was visible between 10.19 to 10.51. The second surprise came when Nifty started rallying from 22400 levels to 22625 between 12.59 to 14.35. This is the 2nd expiry in which Nifty has gone ballistic. I am not sure if it was SL hunting, but it messed up my Algo trades and had to close at a loss of Rs43092 on Nifty. The 321pts intraday rally has ensured N50 gets a stance upgrade to Bullish with the next target being the ATH. If it takes out the ATH, then we can safely remove the double top pattern.
NSE:NIFTYLong
by viswaram
NIFTY Intraday Trade Setup For 26 Apr 2024NIFTY Intraday Trade Setup For 26 Apr 2024 Bullish-Above 22630 Invalid-Below 22580 T- 22810 Bearish-Below 22450 Invalid-Above 22500 T- 22295 NIFTY has closed on a bold bullish note today with 0.75% gain. It is a bold candle as it gaped down 85 points and then recovered till 22625. Tomorrow is likely to be bullish day. Broadly we are still trading between this rising parallel channel in daily TF. 22465 will act as a support and one can have a bullish plan from this level. Best trade will be opening below 22625 and then breakout of 22630. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 22630 then we will long for the target of 22810-50. For selling we need a 15 Min candle close below 22450. T- 22295. 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 April 25th.Good morning, friends! Here are the directions for April 25th: The global market trend is moderately bearish, supported by the Dow Jones, while our local market sentiment indicates a moderately bullish trend. It might open with a gap-down start, as suggested by GiftNifty, showing a decrease of -70. Nifty had closed with consolidation in the last session. In this session, if it opens neutral to gap-up, then we can expect a range breakout, but GiftNifty indicates a slightly negative start. So, it might take a little correction, retracing to a minimum of 23% to 38% Fibonacci level. If this happens, don't take any advance long positions around the 38% level because the structure may not be clear here compared to BankNifty. so If it consolidates around the 38%, then the correction continues further, and you can fix the next target Fibonacci level at 50% The alternate variation suggests that if the gap-down doesn't sustain and takes an immediate pullback, then it might undergo further range market. After that consolidation, if it breaks the previous high, then we can expect a rally continuation. However, if the market opens against the sentiment, which means if the market opens neutral or gap-up, then we can expect a rally, potentially breaking the previous high.
NSE:NIFTY
by Manickamtraders
FASP levels for Nifty 24/04/2024The FASP for Nifty is listed for 24-04-2024. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:NIFTY
by SathishChandrasekaran
3 Apr 24 Nifty50, VIX collapsing 20% means Advantage Bulls!Nifty Analysis - Stance Neutral ➡️ Recap from yesterday: "The 63mts time frame is not bullish yet, but we are not bearish now. The best we can think of right now is to go neutral. If we fall back below 22295 tomorrow, we might even go short." Nifty was perfectly neutral today after the opening candle. Since RELIANCE declared its quarterly results yesterday, we expected profit bookings on that counter. The mega gap-up and then cooling off on N50 was much attributed to RELIANCE's price action. Once N50 found support at yesterday's close, it decoupled itself from both RELIANCE and HDFCBANK price action. N50 was in green even when both the stocks were in red, that is not something we see usually. India VIX crashing almost 20% was another shocker for the Bears. Whenever we have dips, the Bears are unable to really punch a way through. The markets come back stronger than before and usually hit a newer top. A crashing VIX is advantage Bulls as it shows the uncertainty falling. For tomorrow we wish to start the day with a neutral stance and look for bullish opportunities as soon as it reaches for the 22519 levels. --- Nifty50 algos ended the day with profits of Rs12729 mostly due to the narrow range maintained by the index today.
NSE:NIFTY
by viswaram
NIFTY Intraday Trade Setup For 24 Apr 2024NIFTY Intraday Trade Setup For 24 Apr 2024 Bullish-Above 22450 Invalid-Below 22400 T- 22665 Bearish-Below 22340 Invalid-Above 22390 T- 22140 NIFTY has closed on a flat note today. Index opened with a 100 points gap up and then index turned sideways. 10 o'clock range was to be used as per trade setup but index did not break and traded within a tight range of less than 100 points. VIX crashed drastically and by this index once again is not good for intraday traders. VIX above 15-16 will bring intraday tradable environment. Index looks week below 22340 and this looks probable tomorrow. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 22450 then we will long for the target of 22665. For selling we need a 15 Min candle close below 22340. T- 22140. 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 April 23rd.Good morning, friends! Here are the directions for April 23rd: The global market trend is moderately bullish, supported by the Dow Jones, while our local market sentiment also indicates a moderately bullish trend. It might open with a gap-up start, as suggested by GiftNifty, showing a +30 point increase. Nifty experienced a minor pullback with some consolidation in the last session. There have been no changes in the previous sentiment. GiftNifty suggests a minor gap-up start, so the market may open positively; after that, if it sustains, we can expect a rally continuation with minor consolidation, targeting a minimum of 22476. If you're wondering whether it may reach the fib level of 78%, the answer is, if the rally has a solid structure, then it may reach the fib level of 78%; otherwise, it will be rejected above the level of 22476. Similarly, alternative variations also suggest the same bullish sentiment. Until the market breaks the previous minor swing low, it may take a range market to rally continuation. On the other hand, if it breaks structurally, we can expect a minimum of 38% fib correction.
NSE:NIFTY
by Manickamtraders
22 Apr - Nifty50 gets a stance change, not bearish - but neutralNifty Analysis - Stance Neutral ➡️ Recap from yesterday: "I strongly think it was an intense short covering that fueled this rally and hence does not wish to alter my bearish stance. If we get past 22295 on Monday or Tuesday, I would change the stance to neutral." Nifty snaps out of bearishness by breaking the 22295 resistance. Even though we had an unusual gap-up, we ended up almost closing it by 09.47. However, the Bears were not able to drive down the prices further indicating a lack of conviction.  Nifty spent considerable time at the 22295 zone, visible from the blue encircled region before breaking out at 14.39. Just think about it, N50 came from 21777 to 22375 today in just 2 sessions, close to 600 points. The 63mts time frame is not bullish yet, but we are not bearish now. The best we can think of right now is to go neutral. If we fall back below 22295 tomorrow, we might even go short. 22519 would be an interim resistance on the upside above which we would like to go long. --- Algo trading - ended up losing 6003 on N50 algo trades today.
NSE:NIFTY
by viswaram
NIFTY Intraday Trade Setup For 23 Apr 2024NIFTY Intraday Trade Setup For 23 Apr 2024 Bullish-Above 22390 Invalid-Below 22340 T- 22665 Bearish-Below 22190 Invalid-Above 22240 T- 22000 NIFTY has closed on a bullish note with 0.86% gain today. It opened with a big gap up and traded between 10 o'clock range for the whole day. However buy levels was respected as support irrespective of the gap up opening. Tomorrow on a flat opening if index breaks today's high then it will directly test 22665 zone. Bears will try to take charge below 22250 but for safer side plan short below 22190. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 22390 then we will long for the target of 22665. For selling we need a 15 Min candle close below 22190. T- 22000. 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 April 22nd.Good morning, friends! Here are the directions for April 22nd: The global market trend is bearish, supported by the Dow Jones, while our local market sentiment also indicates a moderately bullish trend. It might open with a gap-up start, as suggested by GiftNifty, showing a +160 point increase. Nifty had a solid pullback in the previous session. GiftNifty suggests that the pullback will continue into today's opening. The market may open with a minimum of 100 points positive; however, if it rejects around the immediate resistance level, it could retrace by a minimum of 23% to 38%. If this correction occurs, could we take it as a bearish trend structurally? The answer is no. Because the previous pullback occurred in a three-wave structure, then we can consider this correction as bearish. If the pullback were in a straight line, representing a single wave, then the bearish bias would be much less. After the minor correction, it may resume another pullback, indicating a range-bound market. Alternatively, if the opening market has a solid structure, then it may further rally with minor consolidations.
NSE:NIFTY
by Manickamtraders
NIFTY Intraday Trade Setup For 22 Apr 2024NIFTY Intraday Trade Setup For 22 Apr 2024 Bullish-Above 22190 Invalid-Below 22140 T- 22405 Bearish-Below 22000 Invalid-Above 22050 T- 21800 NIFTY has closed with a cut of 1.65% last week. Last week we had a bearish view as per the 2nd leg shooting star in weekly TF. Trigger of the bearish move was 22500. Index has respected 50 EMA in daily TF. Now Below 21770 next bearish move will be triggered which will be a breakdown of rising channel in daily TF. However 21700 is a major weekly support below which index will be bearish in medium term. In case of a gap up possibility of sell off will be high. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 22190 then we will long for the target of 22405. For selling we need a 15 Min candle close below 22000. T- 21800. 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 Levels and Zone for 4th Week April 2024NSE:NIFTY 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between zones. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
NSE:NIFTY
by Trading_hawk
19 Apr 2024– Nifty Unseen 402pts momentum, not bullish thoughNifty Analysis - Stance Bearish⬇️ Recap from yesterday: On the higher TF, we wish to maintain the bearish stance even though we did not get a 63mts closing candle below 22051. I am hoping that we may get one in the forenoon session tomorrow. Unseen momentum on Nifty50 today, we woke up to the bad news that Israel has launched counter strike on Iran, and Gifty (Global Nifty futures) were trading 400 points lower. The news and Twitter feed were not looking good and immediately I felt it was wise not to run my non-directional algo. That proved to be the right decision as my backtests showed losses of 97000 if I had run the Algo. Nifty opened below the support of 21913, hit an intraday low of 21777, and then started recovering. Between 11.27 to 12.11, N50 spent its time near the 21913 SR zone. Once it broke the resistance, it immediately went to the next SR of 22051. Between 12.51 to 13.47, N50 spent its time at 22051 before breaking out. N50 went ahead and hit an intraday high of 22179 before cooling off to close at 22149. When was the last time you saw N50 rally 402pts that too from poor global macros? I strongly think it was an intense short covering that fueled this rally and hence does not wish to alter my bearish stance. If we get past 22295 on Monday or Tuesday, I would change the stance to neutral.
NSE:NIFTYShort
by viswaram
#Nifty Directions and levels of April 19th."Good morning, friends! Here are the directions for April 19th: The global market trend is bearish, supported by the Dow Jones, while our local market sentiment also indicates a bearish trend. It might open with a gap-down start, as suggested by GiftNifty, showing a -350 point decrease. GiftNifty indicates a long gap-down, so I don't know where it will be open. Structurally, the fall may continue Unless the market breaks the fib level of 38% we can expect a decline. My expectation is correction. The market may undergo some consolidation around any one of the support levels, but there's a possibility of further downside breaks. We can anticipate a minor trend reversal only if it breaks the Fibonacci level of 38%, using the Fibonacci swing from yesterday's high to the upcoming low. If it breaks, we can assume that the minor trend has reversed."
NSE:NIFTY
by Manickamtraders
NIFTY Intraday Trade Setup For 19 Apr 2024NIFTY Intraday Trade Setup For 19 Apr 2024 Sell_1- From 22250 Invalid-Above 22300 T- 22080 Sell_2- Below 21950 Invalid-Above 22000 T- 21750 21585 NIFTY has closed on a bearish note with 0.69% cut today. Last weekend analysis is going well as we discussed that index will be under bear's grip below 22500 as per the effective 2nd leg shooting star candle in weekly TF. It was said @21520 that there is a high possibility of NIFTY making a short term top. Since then it has been sell on rise market and same approach should be kept till index makes a bullish reversal structure in daily TF. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes below 21950 then we will long for the target of 21750 and 21585. In case of gap up we will short from 22250. T- 22080. 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