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#nifty directions and levels for October 9th."Good morning, friends! 🌞 Here are the market directions and levels for October 9th. Market Overview: The global market is still maintaining a moderately bullish sentiment, while our local market shows a moderately bearish trend. A neutral to gap-up opening is expected today, with SGX Nifty indicating a positive move of around +20 points as of 8 AM. Today, we have a major event: the RBI monetary policy announcement. This means the market is likely to move based on this data, which will be released around 10 AM. Therefore, technical analysis may not play a significant role today. However, structurally, both the Nifty and Bank Nifty remain in a bearish bias since they haven't broken the 38% Fibonacci level in the overall correction. So, if the market rejects the key resistance level, we can expect the correction to continue."
NSE:NIFTY
by Manickamtraders
Nifty Intraday Support & Resistance Levels for 09.10.2024On Tuesday, Nifty opened with a gap up, as expected, finding support near the 61.8% FIBO level (24,804.25). It made a high of 25,044 and closed at 25,013.15, gaining 217 points from the previous session. If Nifty breaks and sustains above 25,143, we might see a bullish rally that could extend to 25,420 or even 25,739. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) is sideways. Demand/Support Zones: Near Demand/Support zone (Daily): 24,753.15 - 25,130.50 (current price inside the zone) Far Demand/Support zone (Daily): 24,522.95 - 24,636.35 Far Demand/Support zone (Daily): 24,099.70 - 24,196.50 Far Demand/Support zone (Weekly): 23,893.70 - 24,419.75 Supply/Resistance Zones: Near Supply/Resistance Zone (15m): 25,420 - 25,485.05 Near Supply/Resistance Zone (Daily): 25,739.20 - 25,907.60 Far Supply/Resistance Zone (Daily): 26,151.40 - 26,277.35 Keep an eye on 25,143—if this level is broken, the rally could gather steam!
NSE:NIFTY
by PriteshPal
Nifty Intraday Support & Resistance Levels for 08.10.2024On Monday, Nifty opened with a gap up and touched a high of 25,143, but the momentum couldn’t hold. It fell sharply, dropping 449 points from the top and hitting a low of 24,694.35. Nifty eventually closed at 24,795.75, losing 218 points from the previous session. Despite briefly breaking below the key support of 24,753, it managed to close above it. If Nifty breaks this level again, we could see further declines toward 24,636 or even 24,420. However, Nifty is also near the 61.8% Fibonacci level (24,804.25), so if it holds above 24,753, we may see a short-term bounce. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) has turned sideways. Demand/Support Zones: Near Demand/Support Zone (Daily): 24,753.15 - 25,130.50 (current price inside the zone) Far Demand/Support Zone (Daily): 24,522.95 - 24,636.35 Far Demand/Support Zone (Daily): 24,099.70 - 24,196.50 Far Demand/Support Zone (Weekly): 23,893.70 - 24,419.75 Supply/Resistance Zones: Near Supply/Resistance Zone (15m): 25,420 - 25,485.05 Near Supply/Resistance Zone (Daily): 25,739.20 - 25,907.60 Far Supply/Resistance Zone (Daily): 26,151.40 - 26,277.35 Stay cautious as we approach these critical levels!
NSE:NIFTY
by PriteshPal
Nifty 50 Reversal: Critical Levels and Sign of a Possible ReboudThe Nifty 50 index has been showing signs of weakness recently, as indicated by the red candle formations and the current price trending below crucial Fibonacci retracement levels. As of today, Nifty has been testing the support zones near the 0.618 Fibonacci level (24,402.75), which could serve as a pivot for a potential reversal. Let's dive into the factors suggesting a possible market bounce from here. Technical Overview 1. Fibonacci Retracement Levels: The price has pulled back from the recent highs around 26,272.50 and is hovering near the 0.618 retracement level at 24,402.75. A break below this level could lead the index toward the next key level at 23,893.70, the 100% retracement mark. On the upside, if the price manages to hold the 0.618 level, the next resistance would be the 0.5 level at 25,083.10. 2. Moving Averages: The 200-day moving average is still trending upward, signaling long-term bullish momentum. However, the 50-day moving average is flattening, indicating indecision in the medium term. The current price is hovering between the 50-day and 200-day moving averages, suggesting that the upcoming price action could be critical in determining the next major move. 3. MACD Analysis: The MACD histogram has turned negative, and the MACD line is crossing below the signal line. This is typically a bearish signal, but it’s worth noting that we are nearing oversold conditions, and a bullish crossover could be on the horizon if buyers step in at these key support levels. 4. RSI Divergence: The RSI is currently around the 36.77 level, nearing oversold territory. Historically, RSI readings below 40 in this range have often preceded significant rebounds in Nifty 50. Watch for bullish divergence as the RSI nears this key level, as it may indicate that downward momentum is weakening and that buyers could soon gain control. Institutional Flows Recent data suggests that Foreign Institutional Investors (FIIs) have been net sellers of Indian equities, particularly with large sell-offs in the cash segment amounting to ₹-8,293.41 crores on October 7, 2024. However, Domestic Institutional Investors (DIIs) have stepped in with a net purchase of ₹13,245.12 crores. This balance between FII selling and DII buying has helped stabilize the market, but FII futures purchases have added some positive momentum. Key Takeaways: Support Zone: The 0.618 Fibonacci retracement level (24,402.75) is a critical support. A strong bounce from this zone could lead to a reversal. Indicators: Oversold RSI levels suggest that the selling momentum is overextended, and we could see a shift in market sentiment. Institutional Activity: DII buying is providing much-needed support to the market, and FII futures activity shows some signs of optimism. Conclusion: Traders should watch for signs of a reversal, especially if the price holds above the 24,400 zone. Confirmation will come from a break above the 25,083 level, which would signify a change in short-term trend dynamics. A failure to hold current levels, however, could lead the index to test the 23,893 mark.
NSE:NIFTY
by strategystack
#Nifty directions and levels for the 2nd week of October.Good evening, friends! 🌞 Here are the market directions and levels for the 2nd week of October. Global Outlook: In the previous week, the global market closed where it started, indicating that the past two weeks have seen global markets in a range-bound market. Structurally, this is a moderately bullish trend, so we can expect the continuation of this range during the week. Once the range breaks, the trend is likely to continue. In the meantime, there are some important economic data releases this week, including FOMC minutes, Balance of Trade, Inflation Rate, Initial Jobless Claims, and PPI, so we should watch these closely. Our Market: Last week, both Nifty and Bank Nifty fell drastically due to F&O-related factors. Structurally, this indicates a clear bearish trend, but the RSI is suggesting a slight bounce back due to the occurrence of divergence. If this happens, we can expect a minimum of a 38% bounce back in the minor swing. We can discuss this in more detail in the charts. Additionally, we have a major event this week: the RBI Policy announcement. Current View: The current view based on the RSI data is as follows: * The RSI divergence is likely to occur in the sub-wave 5. The structure suggests there is a 5th sub-wave forming. Once the market starts to bounce back, we can close the 5-wave structure in the 1st leg of the correction, leading into the 2nd leg. * The ideal 2nd leg is a three-wave structure, which could take a minimum of 38% to 61% bounce back from the previous swing. > In rare occasions, it could reach 78%. Structurally, it won’t go beyond this level; however, if it does, the overall trend will turn bullish. * Once the three-wave structure (2nd leg) completes, the 3rd wave will begin. The 3rd wave is a correctional wave; if it rejects and cuts below the EMA20 line, we can assume that the downtrend may continue further. This is our first variation. Alternate View: * The alternate view suggests that if the week starts with a negative candle, it may evolve into a diagonal structure. * A diagonal is a time adjustment pattern, so the correction could continue with some minor bounce backs. * However, the diagonal also indicates a sub-wave of the 5th. Once the diagonal pattern breaks upwards, the previous sentiment will apply here as well, meaning we can expect a minimum of a 38% bounce back from the previous swing.
NSE:NIFTY
by Manickamtraders
4th Oct 2024 - Nifty Slips 1130pts ~ 4.32%, stance bearishNifty Stance Bearish ️⬇️ What a dramatic week it has been, Nifty falls 1130pts ~ 4.32% after SEBI's new FnO rule changes go live. What spooked the markets? I guess the fear that liquidity may get sucked out post 20th November 2024. Or is it because China's stock market is going limit up? The fall in our market was kind of different, usually the bear power lasts only 2 days after which the bulls will come in and rally the markets to new all time highs. Hope we get a bear run continuation for a while now, few of the stocks and the main indices in particular are overvalued. A retracement will shake off the greed and insanity. Our stance has changed to bearish with the stop loss at 25247 above which we will go neutral.
NSE:NIFTYShort
by viswaram
Nifty Intraday Support & Resistance Levels for 07.10.2024On Friday, Nifty opened gap down but managed a brief recovery, hitting a high of 25,485.05 before facing resistance at the 15-minute Supply Zone mentioned in the previous post. The index then reversed sharply, dropping 500 points from the day’s high to a low of 24,966.80. It closed at 25,014.60, losing 235 points from the previous session. Currently, Nifty is trading within the Daily Demand Zone (24,753.15 - 25,130.50). If this support holds, we might see a bounce in the coming days, potentially reaching the Daily Supply Zone near 25,739. However, if the demand zone is broken below 24,753, the index could fall further, possibly reaching 24,636 or lower. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) is sideways. Demand/Support Zones: Near Demand/Support Zone (Daily): 24,753.15 - 25,130.50 (current price inside the zone) Far Demand/Support Zone (Daily): 24,522.95 - 24,636.35 Far Demand/Support Zone (Daily): 24,099.70 - 24,196.50 Supply/Resistance Zones: Near Supply/Resistance Zone (Daily): 25,739.20 - 25,907.60 Far Supply/Resistance Zone (Daily): 26,151.40 - 26,277.35 Keep an eye on the key levels for potential reversals and opportunities!
NSE:NIFTY
by PriteshPal
#nifty directions and levels for October 4th."Good morning, friends! 🌞 Here are the market directions and levels for October 4th. Market Overview: The global market is still maintaining a moderately bullish sentiment, while our local market indicates a bearish trend. A gap-down opening is expected today, with SGX Nifty showing a negative move of around -90 points at 8 AM. In the previous session, both Nifty and Bank Nifty continued their corrections. So, what about today? GIFT Nifty is indicating a negative start, suggesting further continuation of the downtrend. However, if you look at the chart, there's an RSI divergence, which could signal a minor reversal. This means we can't hold positions without caution today. Let’s take a look at the charts. Current View: The current view suggests that if the market finds support around the immediate support level, we can expect a bounce back of around 23% to 38% in the minor swing. This is our first scenario. For additional confirmation, you can refer to the 20 EMA Alternate View: The alternate view suggests a breakout trade. If the market breaks or consolidates around the support level, we can take a breakout entry and set the target at the next support level. Since I'm uncertain about the trend continuation, I’ve set the target conservatively at the next support level.
NSE:NIFTY
by Manickamtraders
1
Nifty Intraday Support & Resistance Levels for 04.10.2024On Thursday, Nifty faced heavy selling pressure, opening gap down and failing to hold the near daily demand zone. It hit a low of 25,230.30 before closing at 25,250.10, losing a massive 546 points from the previous close. While the Weekly Trend (50 SMA) remains positive, the Daily Trend (50 SMA) has shifted to sideways from positive, indicating potential caution ahead. Demand/Support Zones: Near Demand/Support Zone (Daily): 24,753.15 - 25,130.50 Near Demand/Support Zone (125 min): 24,941.45 - 25,036.75 Supply/Resistance Zones: Near Supply/Resistance Zone (15 min): 25,368.70 - 25,414.00 Far Supply/Resistance Zone (15 min): 25,500.95 - 25,545.00 Far Supply/Resistance Zone (125 min): 25,743.45 - 25,838.45 Far Supply/Resistance Zone (Daily): 26,151.40 - 26,277.35 Stay cautious, as volatility may continue!
NSE:NIFTY
by PriteshPal
#Nifty directions and levels for October 3rd.Current View: If the market opens with a gap-down, both Nifty and Bank Nifty are expected to continue in a bearish structure, with some minor consolidation. Even if there’s a pullback, this type of correction typically won’t break the 38% Fibonacci level in the minor swing. This is our first scenario. Alternate View: If the market initially rejects around the immediate support level and breaks the 38% Fibonacci level in the minor swing, it could shift into a range-bound market. In this case, targets are expected around the 78% Fibonacci level in the minor swing.
NSE:NIFTY
by Manickamtraders
Nifty Intraday Support & Resistance Levels for 03.10.2024On Tuesday, Nifty opened with a gap down, hitting a high of 25,907.60 before dropping to a low of 25,739.20. It ultimately closed nearly flat at 25,796.90, losing just 13 points from the previous close. The Weekly and Daily Trends (50 SMA) remain positive. The Demand and Supply zones for Nifty are unchanged from the last post. Demand/Support Zones: Near Demand/Support Zone (Daily): 25,285.55 - 25,611.95 Near Demand/Support Zone (125 min): 25,376.05 - 25,453.70 Far Demand/Support Zone (Daily): 24,753.15 - 25,130.50 Supply/Resistance Zones: Near Supply/Resistance Zone (30 min): 25,943.15 - 25,995.00 Far Supply/Resistance Zone (125 min): 26,151.40 - 26,230.80 Far Supply/Resistance Zone (Daily): 26,151.40 - 26,277.35
NSE:NIFTY
by PriteshPal
NIFTY Intraday Trade Setup For 3 Oct 2024NIFTY Intraday Trade Setup For 3 Oct 2024 Bullish-Above 25910 Invalid-Below 25860 T- 26110 Bearish-Below 25730 Invalid-Above 25780 T- 25525 NIFTY has closed on a flat note last day. A sell off triggered on 30 Sep and is likely to continue in the coming days as sentiment has most likely reversed to bearish. This whole scenario was already discussed on 29 Sep trade setup. Tomorrow's key levels are 25910 and 25730. Overall I will maintain bearish stance. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 25910 then we will long for the target of 26110. For selling we need a 15 Min candle close below 25730. T- 25525. 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 October 1st.Good morning, friends! 🌞 Here are the market directions and levels for October 1st. Market Overview: The global market is maintaining a moderately bullish sentiment, but our local market is leaning bearish. Today, the market may open neutral to slightly gap-down, with SGX Nifty indicating a negative 5-point move at 8 AM. On the previous day, both Nifty and Bank Nifty experienced a sharp decline. Structurally, we can expect further correction. However, the global market saw a solid pullback in the previous session, indicating a minor bounce-back initially. however, If the market sustains a bearish sentiment with solid red candles, the correction is likely to continue. Let's look at the charts for more details. Nifty Current View: This current view suggests that if the market opens with a gap-up or finds support around the immediate support level, it could pull back up to 23% to 38%. Structurally, it might not sustain beyond that, so it may undergo some consolidation between the current low and the 38% Fibonacci level in the minor swing. . Afterward, we can follow the direction—whether it breaks the previous low or the 38% Fibonacci level. This is our first variation Alternate View: The alternate view indicates that if the initial market declines, then 25,695 will act as a strong support level. If it consolidates or breaks that level, the correction is likely to continue, meaning we can expect a correction only if it solidly breaks 25,695. On the other hand, if it rejects solidly, we can follow the direction of the current view. This is the alternate view.
NSE:NIFTY
by Manickamtraders
6
Nifty Intraday Support & Resistance Levels for 01.10.2024On Monday, Nifty opened gap down and continued to face selling pressure, breaking the 75-minute support zones mentioned in the previous post. It closed at 25,810.80, losing 368 points from the previous close. Both the Weekly and Daily Trends (50 SMA) have turned from overbought to positive. Demand/Support Zones: Near Demand/Support Zone (Daily): 25,285.55 - 25,611.95 Near Demand/Support Zone (125 min): 25,376.05 - 25,453.70 Far Demand/Support Zone (Daily): 24,753.15 - 25,130.50 Supply/Resistance Zones: Near Supply/Resistance Zone (30 min): 25,943.15 - 25,995.00 Far Supply/Resistance Zone (125 min): 26,151.40 - 26,230.80
NSE:NIFTY
by PriteshPal
#Nifty directions and levels for September 30th.Good morning, friends! 🌞 Here are the market directions and levels for September 30th. Market Overview: The global market has a moderately bullish sentiment, and our local market reflects the same moderately bullish sentiment. Today, the market may open with a gap-down due to the SGX Nifty indicating a negative 80 points. In the previous session, both Nifty and Bank Nifty closed negatively, and the SGX Nifty also suggests that this trend may continue. Even though the overall structure indicates a negative trend, there are no key points suggesting a substantial continuation of this trend, which is why I have categorized it as a range-bound market. However, if the gap-down solidly breaks the immediate support level, then a correction is likely to continue. Let's analyze this further through the charts. Nifty Current View: The current view suggests that if the market finds support around the immediate support level (26073), we can expect a range-bound market between the previous high and the upcoming low. This is our first variation. This sentiment represents a slightly bullish bias, meaning that after this consolidation, if it breaks the previous high, the rally is likely to continue. Alternate View: The alternate view indicates that if the gap-down sustains and breaks the immediate support level, then the correction is likely to continue down to the minimum Fibonacci level of 23%
NSE:NIFTY
by Manickamtraders
2
27th Sep 2024 - Nifty went up 356pts ~ 1.38%, dream run continueNifty Stance Bullish ️⬆️ The dream run continues, Nifty goes up 356pts ~ 1.38% this week. Seems like there is nothing that can stop this bull run. I guess, the bull market will only end until the last of the bears turn bullish. Even though we closed slightly red on Friday, the call options premiums were pricing further upside, and the put options decayed so badly that ensured the short sellers got nothing. The current dream run started on 16th Aug and we are up 1934pts ~ 7.98%. Nifty has been a huge wealth creator for investors.  30th Sep 2024 will be the most critical day in the history of futures and options. After its meeting, SEBI will decide what the revised margins for options trading will be. Meanwhile, the revised STT and charges go live on October 1st. Our stance remains bullish until 25979 is broken, below which we will go neutral.
NSE:NIFTYLong
by viswaram
#Nifty directions and levels for the first week of October.Good evening, friends! 🌞 Here are the market directions and levels for the first week of October. Global Outlook: In the previous week, the global market closed near where it started, indicating that the market moved in a consolidation phase. What about this week? There are many major events, such as US Federal Reserve Chair Jerome Powell's speech, the monthly JOLTs job openings and quits, unemployment rate, non-farm payrolls, vehicle sales, and factory orders data. Therefore, this week might be a little volatile. Our Market: The weekly candle for Nifty closed with a green candle, while Bank Nifty closed with a shooting star, suggesting moderate momentum. This implies that even if the market takes a bullish or bearish bias, it won’t experience significant momentum. Let’s analyze this in the charts. Nifty Current View: If the market starts with a red candle, we can expect a 23% to 38% correction in the minor swing. Structurally, it shouldn't break the 38% Fibonacci level. In case it breaks this level, we could expect the next target to be a 50% correction on the downside. > in this variation, if it finds support around the 38% level, it could return to where it started this week. This is our first scenario. Alternate View: The alternate view suggests that if the market rejects around the immediate support level and consolidates, then the rally could continue once it breaks the previous high. If this happens, we can expect the next targets to be a minimum of 26,460 to 26,568. This is our alternate scenario.
NSE:NIFTY
by Manickamtraders
Nifty Intraday Support & Resistance Levels for 30.09.2024On Friday, Nifty opened with a gap up, hitting a new all-time high of 26,277.35. However, some profit booking led to a drop of 125 points from the top, with Nifty closing at 26,178.95, losing 37 points from the previous close. Both the Weekly and Daily Trends (50 SMA) remain overbought. Demand/Support Zones: Near Demand/Support Zone (75 min): 26,035.65 - 26,113.95 Far Minor Demand/Support Zone (15 min): 25,923 - 25,948.85 Far Demand/Support Zone (75 min): 25,871.35 - 25,902.30 Far Demand/Support Zone (Daily): 25,285.55 - 25,611.95 Supply/Resistance Zones: No supply/resistance zones visible on the chart currently.
NSE:NIFTY
by PriteshPal
NIFTY Intraday Trade Setup For 30 Sep 2024NIFTY Intraday Trade Setup For 30 Sep 2024 Bullish-Above 26280 Invalid-Below 26230 T- 26460 Bearish-Below 26150 Invalid-Above 26200 T- 26000 NIFTY has closed on a bullish note with 1.5% gain last week. We have been following buy on dips in intraday since a long time. But now I feel that it is going to change very soon due to stretch. If daily candle closes below PDL then sentiment will reverse and profit booking can be triggered. 26280 and 25150 are intraday levels for Monday to look for breakout. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 26280 then we will long for the target of 26460. For selling we need a 15 Min candle close below 26150. T- 26000. 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 September 27th.Good morning, friends! 🌞 Here are the market directions and levels for September 27th. Market Overview: There have been no significant changes in the global and local markets; both maintain a bullish bias. Today, the market is expected to open neutral to slightly negative, with SGX Nifty indicating a negative of around -20 points as of 8 AM. In the previous session, the market had a minor movement in the second half. Structurally, it still maintains a bullish bias. So even if the market starts negatively today, the bullish momentum might continue. However, if the initial market declines sharply, we should follow that; let’s look at this in the charts. Nifty and Bank Nifty both share the same sentiment. Nifty Current View: The current view indicates that if the market opens with a gap-up or if the initial market takes support around the Fibonacci level of 38%, then the rally will continue if it breaks the previous high. Until then, it could consolidate between the previous high and the Fibonacci level of 38%. This is our first scenario. Alternate View: The alternate view suggests that if the initial market breaks the Fibonacci level of 38% solidly, then the trend will turn into a minor correction phase. If this happens, we can expect correctional targets between 50% and 78% in the minor swing.
NSE:NIFTY
by Manickamtraders
2
Nifty Intraday Support & Resistance Levels for 27.09.2024On Thursday, Nifty hit a new all-time high of 26,250.90 and closed at 26,216.05, gaining 211 points from the previous close. Both the Weekly and Daily Trends (50 SMA) are in overbought territory. Demand/Support Zones: Near Demand/Support Zone (5 min): 26,098.05 - 26,112.70 Near Demand/Support Zone (30 min): 24,923.00 - 24,949.65 Far Demand/Support Zone (30 min): 25,875.35 - 25,899.45 Far Demand/Support Zone (75 min): 25,376.05 - 25,467.65 Far Demand/Support Zone (Daily): 24,753.15 - 25,130.50 Supply/Resistance Zones: No supply/resistance zones currently visible on the chart.
NSE:NIFTY
by PriteshPal
#Nifty directions and levels for September 26th.Good morning, friends! 🌞 Here are the market directions and levels for September 26th. Market Overview: There have been no significant changes in the global and local markets; both maintain a bullish bias. Today, the market is expected to open neutral to slightly positive, with SGX Nifty indicating a rise of around +60 points as of 8 AM. In the previous session, both Nifty and Bank Nifty continued consolidating. However, it seems a breakout may occur this session, as GIFT Nifty is suggesting a gap-up opening. If this gap-up sustains, we can expect the rally to continue. We had previously discussed that this could be a sub-wave 5th. So, if the breakout has a solid structure, the trend is likely to continue. Conversely, if the movement is gradual, the rise may be limited. We'll explain this further in the charts. Both Nifty and Bank Nifty reflect the same sentiment. Nifty Current View: The current view suggests that if the first move consolidates around the supply zone (MSZ), Nifty could reach a maximum of 26,146. Conversely, if the first move breaks the supply zone with solid momentum, the rally may continue, with some consolidation around 26,220. This is our first scenario. Alternate View: The alternate view suggests that if the market declines or faces rejection near the supply zone, the range may hold. However, the precise move is if the rejection breaks the 38% Fibonacci level of the minor swing, it could extend to a minimum of 78%, reaching 25,833.
NSE:NIFTY
by Manickamtraders
3