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.
Niftyintradaytradesetup
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.
Nifty Intraday Support & Resistance Levels for 24.10.2024On Wednesday, Nifty opened with a 93-point gap down, making a low of 24,378.10, which touched the weekly Demand Zone. It briefly bounced back to a high of 24,604.25 but couldn’t sustain the momentum, closing at 24,435.50, down 36 points from the previous close. The Weekly Trend (50 SMA) is sideways, and the Daily Trend (50 SMA) remains negative.
Nifty Demand/Support Zones for 24.10.2024:
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): 23,350.00 - 23,667.10
Nifty Supply/Resistance Zones for 24.10.2024:
Near Supply/Resistance Zone (75m): 24,636.75 - 24,741.45
Near Supply/Resistance Zone (15m): 24,798.95 - 24,882.00
Far Supply/Resistance Zone (15m): 25,195.85 - 25,234.05
Far Supply/Resistance Zone (15m): 25,420.00 - 25,485.05
Far Supply/Resistance Zone (15m): 25,500.95 - 25,545.00
Firstsource Solutions Limited up side breakout on daily chartFirstsource Solutions Limited Result on 28 October watch till result
price near 330 is good for entry in this stock with strict SL
up side move possible
price looking good moving up from 20 ema
going in continution
keep eyes on this stock
Disclaimer: This is Not a Buy or Sell Call
The information provided herein is for informational purposes only and should not be construed as financial advice, a recommendation, or an offer to buy or sell any financial instrument. It is important to conduct your own research and consult with a licensed financial advisor before making any investment decisions. The content provided does not take into account your personal financial situation, risk tolerance, or investment goals. The author or entity providing this information is not responsible for any investment decisions you may make based on this content.
NIFTY Intraday Trade Setup For 24 Oct 2024NIFTY Intraday Trade Setup For 24 Oct 2024
Bullish-Above 24610
Invalid-Below 24560
T- 24885
Bearish-Below 24370
Invalid-Above 24410
T- 24097
NIFTY has closed almost on flat note with minor cut of 0.15% today. On Oct 17 it was discussed that we are approaching 23700 zone in the coming days. It is going in flow positionally. On a flat opening tomorrow below 24370 index will dive once again towards 24100 zone. Overall keep sell on rise approach.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 24610 then we will long for the target of 24885.
For selling we need a 15 Min candle close below 24370. T- 24097.
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 Support & Resistance Levels for 23.10.2024On Tuesday, Nifty opened 17 points higher, reached a high of 24,882, but faced heavy selling pressure, dropping nearly 430 points to hit a low of 24,445.80. It closed at 24,472.10, losing 309 points from the previous session. The Weekly Trend (50 SMA) has shifted to sideways from positive, while the Daily Trend (50 SMA) remains negative. Notably, Nifty broke and closed below the previous month's low, signaling potential further downside.
Nifty Demand/Support Zones for 23.10.2024:
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 for 23.10.2024:
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
#nifty directions and levels for October 22nd.Good morning, friends! 🌞 Here are the market directions and levels for October 22nd.
Market Overview:
The global market is showing a moderately bearish sentiment due to yesterday’s decline, and our local market is following a similar trend. We anticipate a neutral to slightly gap-up opening today, with SGX Nifty indicating a positive start of +35 points as of 8 AM.
In the previous session, both Nifty and Bank Nifty opened with a gap-up, but it didn’t sustain. If you look at the structure, both indices are different from one another. Nifty is indicating a range-bound market, while Bank Nifty is showing a moderately bullish structure.
> How can we interpret this? I took two things into consideration for today’s direction: first, yesterday, the global market declined by nearly 1%, and second, looking at the Nifty and Bank Nifty charts broadly, the pullback occurred after a sharp decline. Both of these signs indicate a bearish bias. That’s how I started today's scenario with a bearish outlook. Let's dive into the charts.
Nifty Current View:
The current view suggests that even if the market opens with a gap-up, structurally it won't sustain. So, if this starts to decline, we can expect a correction to a minimum of24,614, which is a minor support. If the decline has a solid structure, then the trend will likely continue. However, the notable thing is that it is in a range-bound market, so there is a small probability of a minor bounce back as well. Please watch carefully.
Alternate View:
The alternate view also presents a kind of range-bound market. If the market sustains the gap-up, then we can expect24,914 for the pullback target. Structurally, it could reject there; if this happens, we can expect a minor correction, but it shouldn't break yesterday's low. This is the basic premise. After this consolidation, if it breaks24,914, then the pullback will likely continue further.
NIFTY50: INSTITUTIONAL LEVELS FOR 22/10/2024QUICK 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 22.10.2024On Monday, Nifty opened with a gap up, touching the 75-minute supply zone and making a high of 24,978.30. However, it reacted sharply from this zone, falling nearly 300 points to a low of 24,679.60. It eventually closed at 24,781.10, down 73 points from the previous close and below the FIBO 61.8% retracement level of 24,804.25. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) is negative.
Nifty Demand/Support Zones for 22.10.2024:
Near Demand/Support Zone (Daily): 24,099.70 - 24,196.50
Far Demand/Support Zone (Weekly): 23,893.70 - 24,419.75
Nifty Supply/Resistance Zones for 22.10.2024:
Near 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
Far Supply/Resistance Zone (Daily): 25,739.20 - 25,907.60
Far Supply/Resistance Zone (Daily): 26,151.40 - 26,277.35
18th Oct 2024 - Continuing the bearish stance on Nifty50Nifty Stance Bearish ️⬇️
We went short and Nifty is down 114pts ~ 0.46% in the last week. Even after the crazy price action on the 18th wherein N50 rallied 315pts ~ 1.28% from a new swing low of 24567, N50 is still in the RED territory .
50 and 200 EMA are still diverging showing signs of the bears starting to emerge. But this is not entirely confirmed, the quarterly results season is in play and we could see a pullback or fake bounce any moment. The other issue in our market is that the short covering forces the Bears to run when we pull up, fueling more bullish moves and new ATHs.
My stop loss would be 25080 above which I would exit the short position. On the daily TF we have a perfect Head and Shoulders pattern that could materialize over the next 1 month. I hope the bears will remain steadfast till then and not run away.