#Nifty directions and levels for February 6th. #Nifty
Good morning, friends! Here are the directions for February 6th: The global market sentiment is moderately bullish, supported by the Dow Jones, while our local market sentiment shows a moderately bearish trend. It might open with a neutral to a slightly gap-up start, as indicated by Giftnifty showing a +20.
Nifty has had a reddish sentiment in the past two trading sessions. Even though it is reddish structurally, we can expect a rally continuation when it breaks the fib level 38%. This is because the previous wave count shows a proper 5-3 structure. If the market sustains the gap-up and breaks the fib level 38%, then we can expect further pullback continuation with minor consolidation.
Alternatively, if the gap-up doesn't sustain or opens with a gap-down, then we can expect correction continuation. It might not be in ABC structure; it might go in a 5-wave structure.
Niftyintradaytradesetup
Nifty Intraday Trade Setup | 6th FebToday Nifty opened with a gap up around 21920 and after consolidating at upper levels around 21960, we saw sharp selloff for 225+ points.
For tomorrow, if Nifty sustains above 21850, we expect to see 21890 and upper marked levels. On the other side, if Nifty breaks 21720 on the downside, we may see 21680 and below marked levels on the chart.
Expectations: Volatile Day
Intraday Levels:
Buy Above - 21850
Sell Below - 21720
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India
NIFTY prediction for tomorrow 6th FEB 24As we discussed yesterday, NIFTY made a bearish movement after 2 pm with a nice volume.
If we look at the chart data:
Price has broken the pattern to the downside, now trading at 200 EMA. RSI has already gone below 40. Price is trading below EMA(13,50). Today, the selling volume was quite high.
If we look at the OI data:
PCR = 0.72, which shows a neutral structure because the price is at 200 EMA. 21700 is having nice PE writing, which is going to provide a nice support zone. On the upside, 21900 has significantly high CE writing, which will provide strong resistance.
I am expecting the market to fall in upcoming sessions:
Reasons:
The market has already given a breakout to the downside. (Bearish)
price < EMAs shows a bearish market structure. Currently trading at 200 EMA if breaks to downside path is clear till 21500. (Bearish)
RSI < 40, which shows bulls are weak right now. (Bearish)
price < VWAP shows a bearish sentiment in the market. (Bearish)
OI data shows PCR = 0.72, which shows the market has a neutral structure. A little push to the downside can ignite a strong bearish move. (Bearish)
Verdict:
Bearish
Plan of action:
Sell 21800 CE (hedge it with 15rs CE)
Nifty Intraday Trade Setup | 5th FebToday Nifty opened with a gap up around 21825 and broke the important resistance level 21850 where Nifty was facing hurdle from so many days. Above 21850 we were bullish in Nifty, booked our shorts, taken 21800 CE and got the great profit in both 21800 and 21950 CE.
For Monday, if Nifty sustains above 21930, we expect to see 21980 and upper marked levels. On the other side, if Nifty breaks 21800 on the downside, we may see 21760 and below marked levels on the chart.
Expectations: Positive Day
Intraday Levels:
Buy Above - 21930
Sell Below - 21800
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India
NIFTY prediction for tomorrow 05 FEB 24As we discussed in our analysis & on YouTube , it reached the target and then fell.
You can also find the analysis on youtube channel link in Bio.
Now if we look at the chart:
the market is in a rectangular uptrend pattern and is now at the lower support line. Looking at the selling pressure volume in the last session, it was a strong fall from ATH. Now, if it breaks down, it will be going at 200 EMA.
Looking at the OI data:
PCR = 0.85, which indicates bullish. also next week PCR = 1.0 shows bullishness. the market is leaning towards bulls unless it breaks to the downside of the channel. Upside 22000 is a really strong resistance level. On the downside, the next good support level is at 21500.
FII & DII indicate a neutral signal.
Now I am expecting market to be either sideways(inside channel) OR bearish (if breaks to downside.)
Reasons:
Price ~ EMA(13,50) shows mild bullish.
RSI ~ 40-60 shows a sideways Market.
market is forming HH & HL. Unless the market forms a lower low, the bearish trend is not confirmed. (Neutral -> because of sharp fall from ATH)
OI data PCR = 0.85 shows mild bullishness. 21800 seems decent support, but on the upper side, 22,000 is strong resistance.
verdict:
Sideways in channel AND bearish if breaks to the downside.
Plan of action:
Go bearish if it breaks to the downside; Target 200 EMA.
Make Or Break Zone in NiftyNifty at Crucial Support zone or we can say that it's make or break zone if nifty hold the support today then we can see the upside rally in near future or if Nifty breaks the support and close below the make of break zone than we can see the downfall in near future ...
I hope this will help you to make your decisions accordingly however this is educational purpose only ...
#Nifty directions and levels for February 2nd.#Nifty
Good morning, friends. As of February 2nd, the global market sentiment is moderately bullish, supported by the Dow Jones. However, our local market sentiment also shows a moderately bullish trend. It might open with a gap-up start based on Giftnifty, which shows +170.
Nifty has a consolidation structure, so as per the structure, if the consolidation breaks, then we can expect a strong rally continuation. We can anticipate a move up to 78% to SZ(21012).
Alternatively, if the market doesn't reach 78% with a solid structure, then it might turn into correction when it reaches 78%. Because if the market reaches there with consolidation, it might be in the 5th diagonal wave. So once the 5th wave completes, it will turn into a correctional wave.
NIFTY Intraday Trade Setup For 01 Feb 2024NIFTY Intraday Trade Setup For 01 Feb 2024
Bullish-Above 21840
Invalid-Above 21790
T- 22050 22260
Bearish-Below 21650
Invalid-Above 21700
T- 21390 21120
NIFTY has closed almost on a flat note today with minor cut of 0.13% today. It was funny seeing NIFTY being complete sideways in such big event. It was a great option sellers day. Post 12 it was very stable, VIX crashed nearly 10%. Now 21850 and 21440 are hourly levels for the next trigger of move any side. Above 21850 there can be good short covering move. Tomorrow below 21650 sellers may start to take charge before 21440.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 21840 then we will long for the target of 22050 and 22260.
For selling we need a 15 Min candle close below 21650. T- 21390 and 21120.
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.
NIFTY Intraday Trade Setup For 01 Feb 2024NIFTY Intraday Trade Setup For 01 Feb 2024
Bullish-Above 21820
Invalid-Below 21770
T- 22177 22533
Bearish-Below 21440
Invalid-Above 21490
T- 21120 20769
NIFTY has closed on a bullish note with nearly 1% gain today. As per trade setup nothing triggered as per trade setup. But one important thing was discussed yesterday that 21470 will be an important support as per half bat pattern (50% retracement). It gave a harp bounce from 21470 till 21740. Tomorrow is Interim Budget an important event so there can be big moves either side based on announcements. I will personally not trade tomorrow. Be very low position sized or avoid trading tomorrow.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 21820 then we will long for the target of 22177 and 22533.
For selling we need a 15 Min candle close below 21440. T- 21120 and 20769.
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.
NIFTY Special Budget prediction for tomorrow 1 FEB 24As Nifty has been trading in the range 21500-21750. Now, tomorrow is a BIG BUDGET 24 to be announced.
If we look at the charts:
The market is trading on the resistance level while completing the inverted HNS pattern, which increases the probability of the market going bullish. But unless the market breaks to the upside, don't go for option buying. The market has taken Support at 200 EMA + price action level.
If we look at the OI data:
PCR = 0.70 shows the neutral behavior of the market, which is okay as the budget is going to be pro-government to focus on the election-winning side. few sectors are going to be beneficial, and few are going to impact negatively. 21700 is MAXPAIN . Both sides are equally tense. Let the market decide what's going to be.
PROs and FIIs have shorted the market with heavy quantities, which might force it to open downside.
I am expecting the market to touch 22100 again.
Reasons
Price > EMAs, which shows bullishness.
RSI is at the surge to break to upside(60) which is bullish indication.
The market is trading its resistance zone, its make-and-break situation. Only go in if the breakout is confirmed.
As it's budget day and elections are nearby, the budget has to be good to turn election sentiments to this government side, which might impact some sectors negatively and also some in a positive way. The market can go really wild. So, Play carefully and protect your capital.
PRO and FII have been showing negative signals as they have been shorted the market heavily, which might force the market to open downside. And then go bullish.
Verdict:
Neutral, highly volatile.
Plan of action:
Wait for 15 min candle. Let the trend be confirmed, then make a position. Protect your profits. The market can turn anytime and will be driven by budget sentiments.
Happy trading Keep your capital safe...
#Nifty levels for 2024 union budget."Good evening, friends. Tomorrow, we have a big event: the Union Budget for 2024. It's a significant event, and the market will mostly move based on the sentiment surrounding that event, with less probability for technical analysis. So, I'm just sharing my Fibonacci levels on the one-hour chart. If you want, feel free to use it. And if you'd like to trade on this day, then only spend a partial amount of your capital because the market will provide plenty of opportunities in the upcoming days. All the best."
Just another perfect Nifty Fib Retracement Intraday SessionNifty open Gap down
Negative sentiments reversed within 1st 10 minutes
I believe Majority was short in morning considering 30th January 2024 Bearish EOD NiftyReport.
That's it! Market makers always looking for liquidity and they found it in the morning itself.
Rally started from day low to retrace 0.786 Fib level since previous day high.
Chart is enough to understand the how fib retracement works and how Nifty Levels being identified with Fibonacci Retracement.
Here is the news flow to justified Nifty & global markets downturn.
1:53 PM: Saudi Arabia's decision on capacity was at least six months in the making based on uncertainty around need for additional capacity - rtrs
1:50 PM: Iran's revolutionary guards chief salami says no US threats will be left unanswered - Tasnim
SELL NIFTY @ 10:35 | NIFTY INTRADAY TRADE 31ST JANAs per SpanAttack time based strategy, we are looking for fall in Nifty around 10:35 am. Resistance levels are marked with red lines, try to sell near resistance zone and we look forward targets towards marked levels with green line.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India
#Nifty directions and levels for January 31st#Nifty
Good morning, friends. As of January 31st, the global market sentiment is moderately bullish, supported by the Dow Jones. However, our local market sentiment shows a mixed trend. It might open with a neutral to slightly gap-up start based on Giftnifty, which shows +2.
According to Giftnifty, Nifty may open with a neutral start. If the market takes a pullback, it may reach the crucial Fibonacci level of 38% (21620). Structurally, this level is crucial as it indicates a ranging market. If the market breaks this level, only then can we expect a pullback of 61 to 78%. On the other hand, if it doesn't break this level, it may undergo further correction.
Alternatively, if the market experiences correction initially, the 21465 level will act as a support. After that correction, if it finds support at this level, then we can expect a minimum of 23 to 38% pullback. However, if it consolidates or breaks this level immediately, then we can expect correction continuation.
Nifty Intraday Trade Setup | 30th Jan '24Today Nifty opened with a gap up around 21440 and after forming a low at 214229 in first candle Nifty gave a crazy rally of more than 300 points and closed near day high.
Gift Nifty is indicating a gap-up opening near 21850 which is a key resistance level. For today if Nifty comes down and crosses 21770 on the upside, we expect more rise towards 21810 and upper marked levels. On the other side, Nifty has to break 21680 for more downside towards 21640 and below marked levels.
Expectations: Volatile Day
Intraday Levels:
Buy Above - 21770
Sell Below - 21680
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India
NIFTY Intraday Trade Setup For 31 Jan 2024NIFTY Intraday Trade Setup For 31 Jan 2024
Bullish-Above 21820
Invalid-Below 21770
T- 22058
Bearish-Below 21470
Invalid-Above 21520
T- 21300 21120
NIFTY has closed on a bearish note today with 1% cut today. It opened almost flat and faced resistance at our buy level and corrected till 21475. One anticipation was shared about a pullback through half bat pattern was plotted which somehow pulled it. Since we are close to a big event so intraday moves can be random and big so avoid trading this week or just reduce your position size. If it opens a bit flat then 21475 may act as a good support as per 50% healthy retracement. Incase it breaks then we will head towards 21120 eventually which is a strong hourly support.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 21820 then we will long for the target of 22058.
For selling we need a 15 Min candle close below 21470. T- 21300 and 21120.
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.
NIFTY Intraday Trade Setup For 30 Jan 2024NIFTY Intraday Trade Setup For 30 Jan 2024
Bullish-Above 21770
Invalid-Above 21720
T- 21910 22058
Bearish-Below 21550
Invalid-Above 21600
T- 21335
NIFTY has closed on a bold bullish note with 1.8% gain today. It was backed mainly by Reliance which closed at ATH. It opened slight gap up and buy triggered as per trade setup. 10 o'clock range broke upside above 21590, last swing low/risk was 21550. It gave a non stop move till 21760. Tomorrow if at all there is a gap up then possibility of a overall range bound market will be high. In case it opens flat and tests 21550 then it can find support here.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 21770 then we will long for the target of 21910 and 22058.
For selling we need a 15 Min candle close below 21550. T- 21335.
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.
NIFTY prediction for tomorrow 30 JAN 24As we discussed Nifty yesterday, "Sideways in range bullish after a breakout." nifty gave a breakout in the morning and gave a bull momentum.
Chart data:
The Market has been range-bound in 21500-21750 for quite some time. It has struck the upper range six times now, which makes it easier to break this time.
OI data:
OI data PCR = 1.10 indicates the Market is already in bulls' control. 21800 is a nice resistance zone. Once it's clear, it will also give a breakout to charts, and people will start Writing PE at this level.
Also, the budget announcement is on the 01 FEB 24, which needs to sound good because the election is nearby.
I am expecting the Market to break to the upside and go bullish in upcoming sessions.
Reasons:
Price > EMAs, which shows the Market is in control of bulls.
RSI > 60, which indicates bulls have enough strength to take it higher.
Price > VWAP, which indicates the Market is in a balanced phase, making it easier to go higher.
OI data PCR = 1.10 shows market is bullish.
The Market has been in range for quite some time. It has already touched this zone 6 times; it shows a higher chance of breaking out.
Verdict:
Bullish
Plan of action:
SELL 21750 PE (hedge it with Buy 30rs PE)
NIFTY Intraday Trade Setup For 29 Jan 2024NIFTY Intraday Trade Setup For 29 Jan 2024
Bullish-Above 21410
Invalid-Below 21360
T- 21627 21855
Bearish-Below 21240
Invalid-Above 21290
T- 20975 20769
NIFTY has closed on a slight bearish note last week with 1% cut. Since the update of NIFTY making a short term top @ 22124 on 18 Jan , it is in correction mode. Only Event is Union Budget which can terminate this correction or else it is aligned for a short term correction towards 20200 zone. However the coming week is filled with major events like Giant's result Union Budget and Fed Event. 21410 and 21240 are important levels for tomorrow's session.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 21410 then we will long for the target of 21625 and 21855.
For selling we need a 15 Min candle close below 21240. T- 20975 and 20769.
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.
NIFTY Prediction for tomorrow 29 JAN 24As we have discussed, NIFTY has been in a bearish structure for the past week. NIFTY ended sideways in the last session, as discussed in our analysis.
Now, if we look at the data on the chart, 21222 is hard SUPPORT, and 21450 is RESISTANCE. Along with it, it's making a falling wedge Pattern, which is a bullish pattern. If it breaks to the upside, the only resistance will be 200 EMA. Once it's crossed, it will be going a bullish 📈 trend move.
If we look at OI data 📊 PCR: 0.80 is neutral. 21300 is working as MAXPain. 21250 and 21300 have good PE writing. Which also includes a good chance to go bullish.
1 FEB 2024 is also budget announcement day. That's why people are waiting for the market to make and break.
People are waiting for the budget to be announced on 1 FEB (Budget Day). I am expecting the market to be sideways.
Reasons:
Price < EMAs shows bearishness.
RSI ~ 40-60, which shows a sideways market structure.
OI data PCR shows 0.80, which is sideways, with 21300 as MAXPain and 21250 and 21300 as good support.
21200 is acting as a good support zone.
50 EMA acting as resistance. If it gets cleared, 200 EMAs will be acting as resistance.
Verdict:
Sideways
Plan of action:
SELL 21450 CE and 21200 PE (protect it with hedging)
SELL NIFTY @ 9:15 AM | INTRADAY TRADE 23RD JAN '24Gift Nifty indicating a gap-up opening with 70 - 80 points, however, as per our time based research, we are looking for some fall in Nifty between 9:15 to 9:45 but don't hold for big targets like yesterday.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India
Nifty Intraday Trade Setup | 25th Jan '24Today Nifty opened with a gap down around 21200 and after forming a low at 21137 Nifty gave more than 300 points recovery from lower levels and closed near day high.
For Tomorrow, 25th Jan if Nifty sustains above 21525, we expect more upside towards 21570 and upper marked levels. On the other side, Nifty has to break 21370 for more downside towards 21320 and below marked levels.
Expectations: Volatile Day
Intraday Levels:
Buy Above - 21525
Sell Below - 21370
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India
Nifty weekly analysis for 23/01/24.Nifty on weekly and daily time frame has formed a engulfing candle and chance are there of market going down if it breaks below 21500 level for intraday.
It has been taking support from the daily 20 moving average and rejection from 50% fibonacci level.
If market tries to move up side it will hit the resistance levels of 21800. In case the level is crossed and sustained, it can test 22000 level.
Up move targets :- 21800, 21970.
On the other hand, market can test the support levels of 21500 and 21350.
Even the hourly 200 ema will also act as a support i.e. 21430.
Support levels :- 21500, 21430. 21350
Chances are there that market can retest the support levels and if the last support levels of 21350 is breached, bearish trade targets can be 21020-21110.
Wait for opening of the market as much of the movement is decided after the price action.
