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#Nifty directions and levels for September 4th.Good morning, friends! 🌞 Here are the directions and levels for September 4th. Market Overview The global market experienced a significant decline in the previous session, structurally indicating a bearish sentiment (based on the Dow Jones). Our local market has been maintaining a moderately bullish sentiment. However, today the market may open with a significant gap-down based on the GIFT Nifty's 200-point negative indication. I have shared a basic Elliott Wave structure. If the market opens with a long gap-down, then both Nifty and Bank Nifty will react in line with one of the following two variations. Let’s take a look: Nifty Current View: If the market opens with a long gap-down, Nifty may find support around the 78% Fibonacci level or a minor demand zone. If this happens, we can expect a 23% to 38% minor bounce back. This bounce back could be part of a sub-wave 4, which is a consolidation wave. Once this consolidation breaks to the downside, we can expect the 5th correctional wave. This is our basic structure. Alternate View: The alternate view suggests that the market is currently in a range-bound phase, so it may try to maintain its range even if it opens with a long gap-down. If the market takes a solid pullback and breaks the 38% Fibonacci level in the minor swing, it will likely continue in the range-bound structure. This is our alternate variation.
NSE:NIFTY
by Manickamtraders
Nifty Intraday Support & Resistance Levels for 04.09.2024On Tuesday, Nifty opened with a gap up but failed to surpass the previous day's high, trading within a narrow range throughout the day and closing flat at 25279.85. The weekly trend (50 SMA) is overbought, and the daily trend (50 SMA) remains positive. Currently GIFT NIFTY is trading 200 points lower, indicating a potential gap-down opening today. Support Levels: Near Minor Demand/Support Zone (30m): 25117 - 25165 Near Demand/Support Zone (Daily): 24964 - 25052 Near Demand/Support Zone (Daily): 24771 - 24859 As of now, there's no supply zone visible on the chart.
NSE:NIFTY
by PriteshPal
#Nifty directions and level for September 3rd.Good morning, friends! 🌞 Here are the directions and levels for September 3rd. Market Overview The global and local markets are still maintaining their consolidation phase with a bullish outlook, supported by the Dow Jones. Today, the market may open with a neutral to slightly gap-down start, as the SGX Nifty indicates a negative 10-point move as of 8:00 AM. There have been no significant changes, and both Nifty and Bank Nifty are maintaining their consolidation structure. What about today? Simply put, it might continue in the same way. However, we need to observe how it continues this structure and whether it takes the next move. Nifty Current View: The basic structure suggests that if the market opens with a gap-up or if it finds support around the 38% Fibonacci level on the downside, the range-bound market is likely to continue. After that, if it breaks the range to the upside, the next target could be the minor supply zone. Alternate View: The alternate view suggests that if the correction takes a sharp decline and consolidates or breaks the 50% Fibonacci level, it could fall further to the level of 25119 or the 78% Fibonacci level. > In this case, if it doesn’t break the 50% Fibonacci level, the range-bound market will likely continue as usual. Pattern Structure: For pattern traders, there is a forming bearish Head and Shoulders pattern. If you have confidence in this pattern, you can use it as well.
NSE:NIFTY
by Manickamtraders
Nifty Intraday Support & Resistance Levels for 03.09.2024On Monday, Nifty opened with a gap up, hitting a new all-time high of 25333.65, which was also the open and high for the day, before closing at 25278.70. The weekly trend (50 SMA) is overbought, while the daily trend (50 SMA) remains positive. Support Levels: Near Minor Demand/Support Zone (30m): 25117 - 25165 Near Demand/Support Zone (15m): 25003 - 25047 Near Demand/Support Zone (Daily): 24771 - 24859 Near Demand/Support Zone (125m) for Weekly Trade: 24543 - 24605 Far Demand/Support Zone (75m) for Weekly Trade: 24204 - 24340 As of now, there are no supply zones visible on the chart.
NSE:NIFTY
by PriteshPal
NIFTY Intraday Trade Setup For 3 Sep 2024NIFTY Intraday Trade Setup For 3 Sep 2024 Bullish-Above 25350 Invalid-Below 25300 T- 25492 Bearish-Below 25230 Invalid-Above 25280 T- 25025 NIFTY has closed almost on a flat note with slight gain of 0.17% gain today. It opened with 100 points gap up and did not sustain that. Index was overall momentum less. This momentum less market will continue till VIX is below 15. Kindly avoid huge exposure in direction trading especially in option buying as market is dull. 25350 and 25230 are intraday levels for tomorrow. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 25350 then we will long for the target of 25492. For selling we need a 15 Min candle close below 25230. T- 25025. 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 Intraday Levels | 2-SEP-2024#Optionbuyers #Niftyoptionscalping 1️⃣ Zones you always Like:- 👉Green zone- Institutional support 👉Red zone - Institutional resistance 👉Gap between institutional zones is always of 100 points 👉Zone is created with the help of pivot points and Fibonacci 👉Advance version of price action 👉Trades based on Nifty future chart 2️⃣ Trade Execution:- 👉Trade based on order flow data 👉Timeframe - 1 min and 5 min 👉Risk Reward Ratio always 1:2 👉Strike price always ATM & slightly ITM 👉Maintain Position sizing according to your own method 3️⃣ House Rules in trading:- 👉Sharp at 9:15 AM 👉Priority to risk management 👉Fast execution (morning breakfast) 👉Stop-loss 10 points (strictly) #ThankU For Checking Out Our IDEA , We Hope U Liked IT 📌 🙏FOLLOW for more ! 👍LIKE if useful ! ✍️COMMENT Below your view !
NSE:NIFTY1!
by ReviveTraders
Nifty Intraday Support & Resistance Levels for 02.09.2024On Friday, Nifty opened with a gap up, reaching a new all-time high of 25268.35 before closing at 25235.90. The weekly trend (50 SMA) has shifted from positive to overbought, while the daily trend (50 SMA) remains positive. Support Levels: Near Minor Demand/Support Zone (15m): 25003 - 25047 Near Demand/Support Zone (Daily): 24771 - 24859 Near Demand/Support Zone (125m) for Weekly Trade: 24543 - 24605 Far Demand/Support Zone (75m) for Weekly Trade: 24204 - 24340 Currently, there is no supply zone visible on the chart.
NSE:NIFTY
by PriteshPal
NIFTY Intraday Trade Setup For 2 Sep 2024NIFTY Intraday Trade Setup For 2 Sep 2024 Bullish-Above 25270 Invalid-Below 25220 T- 25492 Bearish-Below 25190 Invalid-Above 25240 T- 25025 NIFTY has closed on a slight bullish note with 1.66% gain last week. Last week we kept weekly outlook sideways to bullish which worked more or less fine. Since it gave a fresh breakout of previous ATH this week. If at all a bearish candle will be formed in weekly TF, this will lead to a false breakout and a possible top in the coming days. 25270 and 25190 are intra levels for tomorrow. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 25270 then we will long for the target of 25492. For selling we need a 15 Min candle close below 25190. T- 25025. 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 level for September first week.Nifty and Bank Nifty Directions for the First Week of September Global Market Overview The global market hasn't changed much and continues to trade within a range, so the overall sentiment remains positive. However, there are a few events this week that need to be monitored closely. Our Market: In the previous week, both Nifty and Bank Nifty closed with positive candles, suggesting that this momentum may continue this week. Meanwhile, there are no major events in our local market, which could indicate that there might not be significant moves on the downside. However, we should check the charts for more clarity. Nifty: In the previous week, Nifty moved solidly, but most of the gains occurred in the initial movements. What about this week? Current View: Structurally, if the market breaks the supply zone solidly, then the rally will likely continue to the level of 25,537 with minor consolidation. This is our first scenario. If this happens, it could signify the continuation of the 3rd sub-wave. Alternate View: > The alternate view suggests that if the market faces rejection around the minor supply zone (25,377) or if this week starts with a negative candle, we can expect a correction of 23% to 38% in the minor swing, potentially indicating a 4th sub-wave. > The correction may not be deep, so if it reaches the downside 38% Fibonacci level, the rally could continue further. However, if it breaks below the 38% level, we might need to reconsider our direction.
NSE:NIFTY
by Manickamtraders
6
#Nifty directions and levels for August 30th.Good morning, friends! 🌞 Here are the directions and levels for August 30th. Market Overview The global and local markets are still maintaining their current sentiments. Globally, the market is in a consolidation phase with a bullish outlook, supported by the Dow Jones. Locally, the market shows a moderately bullish sentiment. Today, the market may open with a neutral to slightly gap-up start, as the SGX Nifty indicates a positive 40-point move as of 8:00 AM. > Both Nifty and Banknifty are still adjusting to their time patterns. Nifty is following an expanding diagonal pattern, while Banknifty is moving within a range. > Currently, Nifty is setting up for its next movement, but Banknifty is not yet aligning with this direction. We can expect a similar sentiment today due to the structural patterns. > However, if Banknifty breaks to the upside decisively, it could lead to a long rally for both Nifty and Banknifty, as Banknifty has been consolidating after a long rally and might be forming a flag pattern. Today's Charts Nifty Current View: The gift Nifty indicates a slightly positive start. If the market opens with a gap-up, it may reach the supply zone on the upside. If the market consolidates there or breaks through the supply zone decisively, the rally is likely to continue. This is our first scenario. However, considering the diagonal pattern, there is also a possibility of rejection. I will outline this in the alternate view. Alternate View: If the market initially declines or experiences a rejection at the supply zone, a correction of 23% to 38% may follow. Should the market break below the 38% Fibonacci level, it could continue in an expanding diagonal structure, with a potential correctional target of 61% to 78%. Conversely, if the 38% Fibonacci level holds, the market may sustain its bullish bias.
NSE:NIFTY
by Manickamtraders
Nifty Intraday Support & Resistance Levels for 29.08.2024On Wednesday, Nifty reached a new all-time high of 25129.60, but profit booking in the last trading hour led to a nearly 100-point drop from the peak, closing at 25052.35. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways. Support Levels: Near Demand/Support Zone (15m): 24988 - 25032 Near Demand/Support Zone (Daily): 24771 - 24859 Near Demand/Support Zone (125m) for Weekly Trade: 24543 - 24605 Far Demand/Support Zone (75m) for Weekly Trade: 24204 - 24340 Resistance Levels: Near Minor Supply/Resistance Zone (15m): 25111 - 25129.60
NSE:NIFTY
by PriteshPal
#Nifty directions and level for August 29th.Good morning, friends! 🌞 Here are the directions and levels for August 29th. Market Overview The global market is moving in a consolidation structure, and it has a bullish sentiment based on the Dow Jones. Meanwhile, our local market is showing a moderately bullish sentiment. However, today, the market may open with a neutral to slightly gap-down start, as the SGX Nifty indicates a negative 50-point move as of 8:00 AM. In the previous session, again, the situation was that even though the market broke the previous high, it didn't sustain that level in the Nifty. The Bank Nifty's story is totally different; there hasn't been as much of a pullback compared to the Nifty; however, it maintained its range. > So, what about today? The first thing is that Gift Nifty is showing a negative start, which is a slightly negative sign for the previous bullish trend. Because the previous bullish trend was moving diagonally, we can interpret this in two ways: as time adjustment or as a potential reversal. So, if today’s gap-down sustains, then it may go a little further down. I will explain this on the charts—let's jump into them. Nifty Current View: > If the market opens with a gap-down, then it may take a bounce back of 23% to 38% around 24,983 or 24,943. Even if this happens, structurally it won’t sustain. Once it rejects there, then the correction will likely continue. This is our first variation. > In this case, if it consolidates around the immediate support level, the same bearish sentiment will continue. Alternate View: Alternatively, if the initial market takes a solid bounce back and breaks the 38% Fibonacci level in the minor swing, then it may turn into a range market between the previous day's range.
NSE:NIFTY
by Manickamtraders
NIFTY Intraday Trade Setup For 29 Aug 2024NIFTY Intraday Trade Setup For 29 Aug 2024 Bullish-Above 25130 Invalid-Below 25080 T- 25350 Bearish-Below 24950 Invalid-Above 25000 T- 24770 NIFTY has closed almost on a flat note with slight gain of 0.14% today. It is making a parallel channel however its rising so ideally it will give best momentum in the downside if lower trendline breakout happens. However there is equal probability of breakout in the upside too. Also any daily candle close below PDL will change sentiment to bearish till then approach will be sideways to bullish. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 25130 then we will long for the target of 25350. For selling we need a 15 Min candle close below 24950. T- 24770. 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 August 28th.Good morning, friends! 🌞 Here are the directions and levels for August 28th. Market Overview The global market is showing a bullish sentiment, as reflected by the Dow Jones. Meanwhile, our local market is displaying a moderately bullish sentiment. However, today's market may open with a neutral to slightly gap-down start, as the SGX Nifty indicates a negative 10-point move as of 8:00 AM. Currently, both Nifty and Banknifty are moving in a diagonal pattern, which is a time adjustment pattern. This means the market may not rise significantly even if it breaks the previous high. However, it's important to note that if the market breaks this pattern on the downside, a minor correction could occur. Therefore, we should watch the market carefully. Now, let's look at the charts. Current View If the market finds support around the immediate support level or opens with a gap-up, the diagonal pattern is likely to continue. > Specifically, Nifty may move within the previous day's range. If it then breaks the all-time high, it could reach a minimum of 25,112 to 25,155. Alternate Scenario The alternate scenario suggests that if the market breaks the 38% Fibonacci level effectively, we can expect the next correctional targets to be between 50% and 61% on the downside.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for August 28th. Currently, Banknifty are moving in a diagonal pattern, which is a time adjustment pattern. This means the market may not rise significantly even if it breaks the previous high. However, it's important to note that if the market breaks this pattern on the downside, a minor correction could occur. Therefore, we should watch the market carefully. Now, let's look at the charts. Current View If the market finds support around the immediate support level or opens with a gap-up, the diagonal pattern is likely to continue. > Specifically, if the market finds support around the immediate support level or opens with a gap-up, it may consolidate between the downside level of 38% and the upside level of 51,460. > In this scenario, if Banknifty experiences a solid pullback and breaks the 51,460 level effectively, it may consolidate around 51,563 for further continuation. This means the rally is likely to continue. This is our first scenario. Alternate Scenario The alternate scenario suggests that if the market breaks the 38% Fibonacci level effectively, we can expect the next correctional targets to be between 50% and 61% on the downside.
NSE:BANKNIFTY
by Manickamtraders
Nifty Intraday Support & Resistance Levels for 28.08.2024On Tuesday, Nifty reached a high of 25073.10, just 5 points shy of its all-time high of 25078.30, before closing at 25017.75. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways. The demand and support zones remain unchanged from the previous post. Support Levels: Near Demand/Support Zone (Daily): 24771 - 24859 Near Demand/Support Zone (125m) for Weekly Trade: 24543 - 24605 Far Demand/Support Zone (75m) for Weekly Trade: 24204 - 24340 No supply zone is currently visible on the chart.
NSE:NIFTY
by PriteshPal
Nifty Intraday Levels | 27-AUG-2024#Optionbuyers #Niftyoptionscalping 1️⃣ Zones you always Like:- 👉Green zone- Institutional support 👉Red zone - Institutional resistance 👉Gap between institutional zones is always of 100 points 👉Zone is created with the help of pivot points and Fibonacci 👉Advance version of price action 👉Trades based on Nifty future chart 2️⃣ Trade Execution:- 👉Trade based on order flow data 👉Timeframe - 1 min and 5 min 👉Risk Reward Ratio always 1:2 👉Strike price always ATM & slightly ITM 👉Maintain Position sizing according to your own method 3️⃣ House Rules in trading:- 👉Sharp at 9:15 AM 👉Priority to risk management 👉Fast execution (morning breakfast) 👉Stop-loss 10 points (strictly) #ThankU For Checking Out Our IDEA , We Hope U Liked IT 📌 🙏FOLLOW for more ! 👍LIKE if useful ! ✍️COMMENT Below your view !
NSE:NIFTY1!
by ReviveTraders
#Nifty directions and levels for the August 27th.Good morning, friends! 🌞 Here are the directions and levels for August 27th. Market Overview The global market has a bullish sentiment based on the Dow Jones. Meanwhile, our local market also exhibits bullish sentiment. However, today, the market may open with a gap-down start, as the SGX Nifty indicates a negative 40-point move as of 8:00 AM. In the previous session, the Nifty experienced a range breakout, which is structurally a positive sign. But today, the giftnifty indicates a negative start. So, what’s next? > the Nifty has minor consolidation structure followed by a breakout. Structurally, it should not take much of a correction. > Therefore, if the market opens negatively and finds support around the immediate support level, it may continue to consolidate within the previous day’s range. This is our first variation in this case. After that consolidation, if the market breaks the previous day's high, then the rally will likely continue. > An alternate variation suggests that if the gap-down sustains and breaks the 38% Fibonacci level solidly or with some consolidation, the market could potentially move further down to the 61% to 78%.
NSE:NIFTY
by Manickamtraders
Nifty Intraday Support & Resistance Levels for 27.08.2024On Monday, Nifty opened with a gap up, reaching a high of 25043.80 before closing at 25010.60, gaining 187 points. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways. Support Levels: Near Demand/Support Zone (Daily): 24771 - 24859 Near Demand/Support Zone (125m) for Weekly Trade: 24543 - 24605 Far Demand/Support Zone (75m) for Weekly Trade: 24204 - 24340 No supply zone is visible on the chart as of now.
NSE:NIFTY
by PriteshPal