#Nifty directions and levels for November 6th."Structurally, we won’t expect more than a 38% correction, so once the market finds support there, we can expect further continuation of the rally with some consolidation. You can apply this same sentiment even if the market consolidates in today’s range. If that happens, the market may go up further. On the other hand, if it breaks the 38% Fibonacci level on the downside, we can consider that the target for the range market should be 50% and 78% on the downside."
Niftyintradaytradesetup
Nifty Intraday Support & Resistance Levels for 06.11.2024On Tuesday, Nifty opened on a weak note, dipping to a low of 23,842.75 before rallying to a high of 24,229.05. It closed at 24,213.30, up by 218 points from the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is still negative.
Demand/Support Zones
Near Demand/Support (30m): 23,842.75 - 23,951.10
Near Demand/Support (Daily): 23,350 - 23,667.10
Extended Support: 23,189.88 (61.8% FIBO)
Far Demand/Support (Daily): 22,642.60 - 22,910.15
Supply/Resistance Zones
Near Supply/Resistance (75m): 24,280.20 - 24,368.25
Near Supply/Resistance (125m): 24,502.80 - 24,604.25
Additional Resistance (75m): 24,636.75 - 24,741.45
Extended Resistance (Daily): 24,664.95 - 24,978.30
Nifty Trading Strategy for 5th November 2024 Nifty Trading Strategy: Buy Above 24,110 / Sell Below 24,900
Current Price: 23,996.00
Key Levels:
Buy Signal: If the price closes above 24,110 on the one-hour candle, it indicates a potential upward trend, suggesting a good time to consider buying.
Sell Signal: If the price closes below 24,900 on the one-hour candle, it suggests a potential downward trend, indicating it might be a good time to consider selling.
Market Analysis:
The current price is hovering around 23,996.00, just below the buy signal level.
It's important to monitor the price closely, especially around the 24,200 to 24,250 levels, which could act as resistance.
Recommendations:
Buy: If the price sustains above 24,110 on the one-hour candle close, consider entering long positions with targets at 24,300 and 24,500.
Sell: If the price breaks below 24,900 on the one-hour candle close, consider short positions with targets at 24,700 and 24,600.
Disclaimer: I am not SEBI registered. This is only for educational purposes. You may do your own analysis before taking any trading decisions.
Nifty Intraday Support & Resistance Levels for 05.11.2024On Monday, Nifty opened slightly negative and saw a sharp decline of nearly 500 points, reaching a low of 23,816.15 before closing at 23,995.35, down by 309 points from the previous close. With the Weekly Trend (50 SMA) sideways and the Daily Trend (50 SMA) negative, Nifty has broken below its weekly demand zone, indicating potential further downside. Any rise could present short-term selling opportunities.
Demand/Support Zones
Near Demand/Support (Daily): 23,350 - 23,667.10
Far Support: 23,189.88 (61.8% FIBO)
Extended Demand/Support (Daily): 22,642.60 - 22,910.15
Supply/Resistance Zones
Near Supply/Resistance (15m): 24,063.95 - 24,107.55
Near Supply/Resistance (30m): 24,280.20 - 24,356.25
Near Supply/Resistance (125m): 24,502.80 - 24,604.25
Extended Supply/Resistance (75m): 24,636.75 - 24,741.45
Extended Supply/Resistance (Daily): 24,664.95 - 24,978.30
NIFTY Intraday Trade Setup For 5 Nov 2024NIFTY Intraday Trade Setup For 5 Nov 2024
Sell_1-From 24175
Invalid-Above 24225
T- 23950
Sell_2- Below 23800
Invalid-Above 23850
T- 23570
NIFTY has closed on a bearish note with 1.27% cut today. Index was just trendy after triggering short as per trade setup. Also index is approaching our position short target - 23700 zone. We have been riding short from 24850 zone which was updated on 17 Oct. We will keep riding this until our trailing sl is hit. If a daily candle closes above PDH then we exit and there will be chance of sentiment change.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes below 23800 then we will short for the target of 23570.
We will also short from 24175 in case tested in the 1st hour. T- 23950
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 Trading Strategy: 4th November 2024Nifty Trading Strategy: Buy Above 24,360 / Sell Below 24,150
Current Price: 24,305.00
Key Levels:
Buy Signal: If the price closes above 24,360 on the one-hour candle, it indicates a potential upward trend, suggesting a good time to consider buying.
Sell Signal: If the price closes below 24,150 on the one-hour candle, it suggests a potential downward trend, indicating it might be a good time to consider selling.
Market Analysis:
The current price is hovering around 24,305.00, just below the buy signal level.
The market is showing signs of bullish momentum, but it's important to monitor the price closely.
Recommendations:
Buy: If the price sustains above 24,360 on the one-hour candle close, consider entering long positions with targets at 24,500 and 24,600.
Sell: If the price breaks below 24,150 on the one-hour candle close, consider short positions with targets at 24,000 and 23,900.
Disclaimer: I am not SEBI registered. This is only for educational purposes. You may do your own analysis before taking any trading decisions.
Nifty Intraday Support & Resistance Levels for 04.11.2024On Friday, Nifty opened with a gap up, landing in the 15m Supply Zone, hitting a high of 24,368.25 before dropping to a low of 24,280.20. It closed at 24,304.35, gaining 99 points over the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is still negative.
Demand/Support Zones
Near Demand/Support (15m): 24,073.90 - 24,099.10
Near Demand/Support (Weekly): 23,893.70 - 24,419.75 (tested)
Far Demand/Support (Daily): 23,350 - 23,667.10
Supply/Resistance Zones
Near Supply/Resistance (5m): 24,463.10 - 24,498.20
Near Supply/Resistance (15m): 24,522.25 - 24,583.50
Near Supply/Resistance (75m): 24,636.75 - 24,741.45
Near Supply/Resistance (Daily): 24,664.95 - 24,978.30
1st Nov 2024 - Nifty up 90pts, dropping coverage on BankNiftyNifty Stance Bearish ️⬇️
The Nifty went up by 90 points 0.38% this week, but we are still in a bearish hold and hence are not revising our stance. We saw a good bounce on the 28th morning session and then we gave up some gains in the afternoon session. On Tuesday we started falling initially and then recovered superbly.
On Wednesday we held the ground, but on Thursday we fell quite badly. In fact by the 31st of October, Nifty was back at the same levels as on Friday the 25th. Then we had the Muhurat Trading session between 6 to 7 pm on 1st November wherein Nifty bounced a bit and closed at 24304 levels.
Diwali trading usually ends in green because a huge crowd of people buy stocks almost blindly, this could be the reason we saw some buoyancy on Friday. From a weekly perspective, I still maintain the bearish position for Nifty, and the stop loss levels will be a close above 24419.
I am dropping coverage on BankNifty immediately and will also stop trading both algos and manual on this Index. The main reason is that BN has been removed from the weekly expiry due to the SEBI rule that only 1 index can be selected by an exchange for weekly expiries and NSE went ahead with Nifty.
Meanwhile, I am adding Sensex to my list and will start publishing technical analysis reports as soon as I start trading on it.
NIFTY Intraday Trade Setup For 4 Nov 2024NIFTY Intraday Trade Setup For 4 Nov 2024
Bullish-Above 24380
Invalid-Below 24330
T- 24600
Bearish-Below 24170
Invalid-Above 24220
T- 24900
NIFTY has formed a halt candle in weekly TF. After continuous selling since 27 Sep it took a pause in weekly TF. 23700 target which was said when index went below 24k is still pending. Also it was said that we need to keep an eye on PDH for trailing the positional short trade. If index closes above PDH then bearish sentiment may take a halt so will close short view then. 24380 and 24170 are intraday levels for tomorrow.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 24380 then we will long for the target of 24600.
For selling we need a 15 Min candle close below 24170. T- 23900.
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 Muhurat Trading Support & Resistance Levels for 01.11.2024✨ Happy Diwali and Prosperous Muhurat Trading! ✨
On Thursday, Nifty opened almost flat but faced selling pressure, hitting a low of 24,172.60 before closing at 24,205.35, down by 135 points from the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is Negative. Larger time frame demand and supply zones (75m, Daily, Weekly) remain the same as previously noted.
Small Time-Frame Demand/Support Zones
Near Demand/Support (15m): 24,073.90 - 24,099.10
Small Time-Frame Supply/Resistance Zones
Near Supply/Resistance (15m): 24,328.00 - 24,372.45
Near Supply/Resistance (5m): 24,463.10 - 24,498.20
Near Supply/Resistance (15m): 24,522.25 - 24,583.50
Larger Time-Frame Demand/Support Zones
Near Demand/Support (Weekly): 23,893.70 - 24,419.75 (tested)
Far Demand/Support (Daily): 23,350 - 23,667.10
Larger Time-Frame Supply/Resistance Zones
Near Supply/Resistance (75m): 24,636.75 - 24,741.45
Near Supply/Resistance (Daily): 24,664.95 - 24,978.30
Wishing you all a profitable Muhurat session and a bright Diwali ahead! 🪔📈
Nifty Intraday Support & Resistance Levels for 31.10.2024On Wednesday, Nifty opened with a gap down, with bulls attempting a recovery to a high of 24,498.20 before dropping to a low of 24,307.30. It closed at 24,340.85, shedding 126 points from the previous close. The Weekly Trend (50 SMA) is still sideways, while the Daily Trend remains negative.
Demand/Support Zones:
Near Demand/Support Zone (Weekly): 23,893.70 - 24,419.75 (tested)
Far Demand/Support Zone (Daily): 23,350 - 23,667.10
Supply/Resistance Zones:
Near Supply/Resistance Zone (75m): 24,636.75 - 24,741.45
Near Supply/Resistance Zone (Daily): 24,664.95 - 24,978.30
Nifty Intraday Support & Resistance Levels for 30.10.2024On Tuesday, Nifty opened flat, dipping to a low of 24,140.85 before rallying over 340 points to a high of 24,484.50. It closed strong at 24,466.85, gaining 127 points over the previous close. Weekly Trend (50 SMA) is sideways, while the Daily Trend remains negative. Key demand and supply zones are unchanged.
Demand/Support Zones:
Near Demand/Support Zone (Weekly): 23,893.70 - 24,419.75 (tested)
Far Demand/Support Zone (Daily): 23,350 - 23,667.10
Supply/Resistance Zones:
Near Supply/Resistance Zone (75m): 24,636.75 - 24,741.45
Near Supply/Resistance Zone (Daily): 24,664.95 - 24,978.30
Nifty Intraday Support & Resistance Levels for 29.10.2024On Monday, Nifty opened with a gap up, reaching a low of 24,134.90 and a high of 24,492.60 before closing at 24,339.15, up 158 points from the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is still negative. Demand and supply zones stay unchanged.
Demand/Support Zones:
Near Demand/Support Zone (Weekly): 23,893.70 - 24,419.75 (current price within this zone)
Far Demand/Support Zone (Daily): 23,350 - 23,667.10
Supply/Resistance Zones:
Near Supply/Resistance Zone (75m): 24,636.75 - 24,741.45
Near Supply/Resistance Zone (Daily): 24,664.95 - 24,978.30
BSL LIMITED stock pattern formation on Daily Chart BSL LIMITED stock going in tight consolidation
am expecting a good up side move
company's earning report coming
Company is expected to give good quarter
keep in your watch-list
slow moving stock but have potential promoters holding stable
individual investors & FII's entered in this stock
Disclaimer: This information is for educational purposes only and does not constitute financial advice or a recommendation to buy or sell any securities. Always do your own research and consult with a financial advisor before making investment decisions.
Nifty Intraday Levels | 28-OCT-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
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25th Oct 2024 - Had a good Bear Run, what is the new base? N50Nifty Stance Bearish ️⬇️
We fell 649pts ~ 2.61% this week and our bearish stance from the prior week helped us gain some money. My October PnL was in deep red, thanks to the abrupt swings in between - but the unidirectional move this week was a real blessing and I was able to cut down my losses.
The Head and Shoulders position that we published on the daily time frame is getting played out (hope so). For the first time in many months, Nifty's bottom is not getting dip bought and the pattern has changed to sell on rise. I honestly do not remember the last time Nifty had the sell on rise characteristics.
I wish to maintain the bearish stance till 24333 is not getting taken out conclusively and deep down, I hope that the Bear run continues till the excesses get thinned off.
Nifty Intraday Support & Resistance Levels for 28.10.2024On Friday, Nifty opened slightly positive but faced heavy selling pressure, hitting a low of 24,073.90 before closing at 24,180.80, down 218 points from the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is negative. Nifty dipped deep into the weekly demand zone (23,893.70 - 24,419.75), even breaching the daily demand zone (24,099.70 - 24,196.50) before recovering around 150 points from bottom in the final hour of trading.
Demand/Support Zones:
Near Demand/Support Zone (Weekly): 23,893.70 - 24,419.75 (current price within zone)
Far Demand/Support Zone (Daily): 23,350 - 23,667.10
Supply/Resistance Zones:
Near Supply/Resistance Zone (75m): 24,636.75 - 24,741.45
Near Supply/Resistance Zone (Daily): 24,664.95 - 24,978.30
NIFTY50: INSTITUTIONAL LEVELS FOR 25/10/2024QUICK GUIDE
- Use 5 minute timeframe
- Try to take enters at retest
- Use multiple confirmation
- Read full description before investing
- Try to take ATM options or above
Explanation:
This is a very useful trading system. This means that you should not take a trade blindly, but rather that there is another confirmation to take the trade you can use this for perfect entry and perfect exit
This trading opportunity is based on volume, previous price, and price range , are included
Entry/Exit point's:
- It has very easy entry and exit points
- In this pair of lines with two colors are given (RED AND BLUE)
- In this the blue line is used to take long entry and the red line is used to take short entry (But it is all based on a more conformation from your trading plan)
Stop Loss/Take Profit:
Stop Loss
- According to this, if you take a long trade, its stop loss will be the red line just below ( A trade can exit either when the price crosses the red line or the 5 minute candlestick crosses the red line. (This can be done according to your preference) )
- A short entry should use the opposite rules to a long entry
Take Profit
-When you take a long entry according to the profit to be booked is on the next red line above. ( Or if there are other reasons, it can be a safe exit )
- Opposite rules for booking profit on long entry are to book profit on short trade. ( The blue line above is the stop loss of short entry )
Timeframe:
According to this, the time frame you should use while taking trades is 5 minutes time frames . (5 minute time frame works well in this)
Risk Disclaimer:
Trading carries significant risk and is not suitable for all traders. You may lose some or all of your capital in a matter of minutes or hours. Market conditions can change rapidly, and prices can move against you quickly. You may not always be able to exit at a favorable price, and you may be required to hold a position overnight, exposing yourself to additional risk. Day trading involves high risk, high leverage, and high stakes, and you should only trade with funds you can afford to lose. Please carefully consider your financial situation, risk tolerance, and trading objectives before engaging in day trading.
Engagement:
Share your insights, ask questions, and learn from others in the community. Whether you're a seasoned pro or just starting out, we're all in this together.
What's your take on the current market conditions? Which trading strategies are working for you? Let's discuss and help each other grow as traders!
Comment below and let's get the conversation started!
Original Content:
This trading setup is the result of my own innovation and expertise, and is not based on any publicly available information or third-party systems. It is a reflection of my dedication to developing a competitive edge in the markets.
Nifty Intraday Support & Resistance Levels for 25.10.2024On Thursday, Nifty opened flat, made a high of 24,480.65 and a low of 24,341.20 within the first hour of trading. The rest of the session saw Nifty move in a narrow range of 60-70 points, closing at 24,399.40, down 36 points from the previous close. The Weekly Trend (50 SMA) is sideways, while the Daily Trend (50 SMA) remains negative. The key Demand and Supply zones are unchanged from the previous post.
Nifty Demand/Support Zones:
Near Demand/Support Zone (Daily): 24,099.70 - 24,196.50
Near Demand/Support Zone (Weekly): 23,893.70 - 24,419.75
Far Demand/Support Zone (Daily): 23,350 - 23,667.10
Nifty Supply/Resistance Zones:
Near Supply/Resistance Zone (75m): 24,636.75 - 24,741.45
Near Supply/Resistance Zone (15m): 24,798.95 - 24,882
Far Supply/Resistance Zone (15m): 25,195.85 - 25,234.05
Far Supply/Resistance Zone (15m): 25,420 - 25,485.05
Far Supply/Resistance Zone (15m): 25,500.95 - 25,545
PPLPHARMA STRONG BULLISH CANDLEPiramal Pharma Ltd
Strong Bulish candle formation after QTR Result of company
good QTR result
and breakout found on chart good levels for entry after a pullback
or INTRADAY continuation trade with strict Stop Loss
**Disclaimer:** This information is for educational purposes only and does not constitute financial advice or a recommendation to buy or sell any securities. Always do your own research and consult with a financial advisor before making investment decisions.
NIFTY50: INSTITUTIONAL LEVELS FOR 24/10/2024QUICK GUIDE
- Use 5 minute timeframe
- Try to take enters at retest
- Use multiple confirmation
- Read full description before investing
- Try to take ATM options or above
Explanation:
This is a very useful trading system. This means that you should not take a trade blindly, but rather that there is another confirmation to take the trade you can use this for perfect entry and perfect exit
This trading opportunity is based on volume, previous price, and price range , are included
Entry/Exit point's:
- It has very easy entry and exit points
- In this pair of lines with two colors are given (RED AND BLUE)
- In this the blue line is used to take long entry and the red line is used to take short entry (But it is all based on a more conformation from your trading plan)
Stop Loss/Take Profit:
Stop Loss
- According to this, if you take a long trade, its stop loss will be the red line just below ( A trade can exit either when the price crosses the red line or the 5 minute candlestick crosses the red line. (This can be done according to your preference) )
- A short entry should use the opposite rules to a long entry
Take Profit
-When you take a long entry according to the profit to be booked is on the next red line above. ( Or if there are other reasons, it can be a safe exit )
- Opposite rules for booking profit on long entry are to book profit on short trade. ( The blue line above is the stop loss of short entry )
Timeframe:
According to this, the time frame you should use while taking trades is 5 minutes time frames . (5 minute time frame works well in this)
Risk Disclaimer:
Trading carries significant risk and is not suitable for all traders. You may lose some or all of your capital in a matter of minutes or hours. Market conditions can change rapidly, and prices can move against you quickly. You may not always be able to exit at a favorable price, and you may be required to hold a position overnight, exposing yourself to additional risk. Day trading involves high risk, high leverage, and high stakes, and you should only trade with funds you can afford to lose. Please carefully consider your financial situation, risk tolerance, and trading objectives before engaging in day trading.
Engagement:
Share your insights, ask questions, and learn from others in the community. Whether you're a seasoned pro or just starting out, we're all in this together.
What's your take on the current market conditions? Which trading strategies are working for you? Let's discuss and help each other grow as traders!
Comment below and let's get the conversation started!
Original Content:
This trading setup is the result of my own innovation and expertise, and is not based on any publicly available information or third-party systems. It is a reflection of my dedication to developing a competitive edge in the markets.