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Niftyit

19th Dec ’23 - BankNifty and NiftyIT collusion to get N50 to ATHBankNifty Analysis Going neutral on BankNifty worked out pretty well today. But things were not looking in favor till we got the reversal at 10.03. Till then BN was following the falling price action from yesterday. I was kind of worried that we may even re-renter the ascending channel today. 4mts chart link - click here How and why we got the reversal - No clue. But BN climbed an impressive 369pts ~ 0.78pts to 48010 levels before giving up gains to close flat. The final close is 0.01% - how much more neutral can we be?? 4mts chart link - click here The ATH on Nifty50 looks like was planted. NiftyIT was falling pretty strongly and it was looking like a one-way trip down. NiftyIT recovered an impressive 423pts ~ 1.21% to help N50 take out the ATHs. So the Sync between NiftyIT, Reliance, and BankNifty was perfectly aligned to get the job done. And after that - things went back to normal. NiftyIt gave up 239pts and BN also dropped 227pts. 63mts chart link - click here The neutral zone is highlighted by 2 horizontal blue lines. Since tomorrow is BankNifty expiry - I am really looking forward to seeing a directional attempt. I wish to stay neutral till then. BankNifty options premiums were looking pretty good today and were unlike the usual Tuesdays we see. VIX near the 14 range is really helping the option sellers.
NSE:BANKNIFTY
by viswaram
1
18th Dec ’23 - Our market takes a pause - Nifty50 PostMortemNifty Analysis Recap from yesterday: “My stance continues to be bullish with the first support level revised to 21341. All we can do now is trail the stop loss and let the winners run. 4mts chart link - click here Nifty was absolutely trading in a narrow range with minor dips. More action was visible on BankNifty today which nudged me to go for a status change (will discuss this shortly). Nifty opened gap-down - the excess euphoria of Friday got shaved off and then it recovered from the LOD. Interestingly the low of the day was in the opening minutes and we never tested it. Technically 21341 was not tested and no status change is warranted. 63mts chart link - click here There was nothing special in today’s action. Nifty defended its lower side quite neatly. NiftyIT was toggling between red and green. BankNifty was in RED. Nifty Pharma was quite energetic today, but the major point gainers for Nifty were RELIANCE and Bajaj Finance. I do not wish to change Nifty’s stance - I still prefer to look for long-only trades. However, 21341 would be the laxman rekha for me tomorrow also. If we get a closing below that - I would love to go neutral. To go bearish - we need to break below the upper boundary of the ascending channel.
NSE:NIFTYLong
by viswaram
15th Dec ’23 - 0.5% variance b/w BankNifty & FinNifty - a first?BankNifty Analysis The patterns and price action on BankNifty were interesting today. For the first time, I noticed a dichotomy with Finnifty’s points. BankNifty and FinNifty had a variance of 0.5% index-to-index basis. This gap remained as such for the entire day. I do not remember the last time they had a sizeable gap. 81.57% weighted stocks in Banknifty have a combined weight of 77.09% in Finnifty - still, we got a variance. 4mts chart link - click here Today’s gap up was actually in the range set from yesterday. We did not break out until 14.27. So if we do not combine yesterday’s price action with today’s - the final painted picture will be different. The real deal today was NiftyIT which went up 4.56% and Reliance + Adani. SBI also played a part but BankNifty as a whole was not that crazy as Nifty. We finally ended the day with a gain of 0.86%. FinNifty ended with 0.32% gains. 63mts chart link - click here BN has also made an island formation because of the gap-up yesterday. The stance remains unchanged at bullish. The first support level will be 47754. Meanwhile would like to find out why NiftyIT surged so much, definitely it has to do with some news or insider information.
NSE:BANKNIFTYLong
by viswaram
Nifty ITOverview of Nifty IT index. Nifty IT index trading at 52-Weeks high. The Nifty IT Index tracks the performance of 10 Indian IT companies listed on the National Stock Exchange (NSE). It calculates values using the free float market capitalization method, starting with a base date of Jan 1, 1996, set at 1000. This indexing measures the total free float market value of the stocks relative to a specific base market capitalization value. Notably, the base value of the index was adjusted from 1000 to 100 on May 28, 2004. Top 5 constituents by weightage 1. Infy - 26.77% 2. TCS - 24.9% 3. HCL Tech - 9.89% 4. Tech Mahindra - 8.86% 5. Wipro - 8.24% View - The ongoing surge in the Nifty IT index is expected to persist, driven primarily by major players in the large-cap IT segment such as TCS, INFY, WIPRO, HCL TECH, and TECH MAHINDRA. The favorable performance of NASDAQ, currently at its 52-week high, is likely to have a positive impact on the broader IT sector. Stock specific view ( Educational & Learning Purpose) 1. Infy heading towards 1620 level. 2. Wipro heading towards 480 level. 3. TCS heading towards 3850 & 4000 level. 4. TechM is on verge of breakout & will move towards 1500 level. 5. HCL tech is at all time high. DISCLAIMER - All analyses are for educational purposes. it is not trading or investment advice.
NSE:CNXITLong
by mayur1630
14th Dec ’23 - Markets break out yet again! Nifty50 ATH 🐂🐂🐂Nifty Today’s Analysis Recap from yesterday: “We have the Nifty expiry tomorrow and as it stands the OTM premiums are pretty low indicating the option sellers are not expecting a big more tomorrow. In case we pick a direction tomorrow, the short sellers (PE or CE) will have to run for cover and that could spike the option premiums. I am going with a neutral stance for tomorrow also and wish to go bullish above 21037 and bearish below 20702.” 4mts chart link - click here. Guess what happened today? The CE short-sellers ran for cover as the pre-open indicated a mega gap up. Rightly so, we opened 182pts higher after FED announced plans to cut rates thrice in 2024. US markets were overjoyed and its spillover effects fell on Indian markets as well. Since the opening was above my target of 21037, I had to choose the bullish direction. You wont believe how hard NiftyIT rallied today, +3.5%. The main reason we had a retracement over the last 2 to 3 sessions was NiftyIT. And its reversal helped Nifty50 hit a new ATH of 21210.9 today. 63mts chart of NiftyIT - click here See the chart of NiftyIT. Between 12th and 13th December we fell 3.25% ~ 1098pts. And from those lows, it rallied 4.89% ~ 1599pts including today’s gains of 1156pts. Not just IT, almost all the sectors were in green today except for maybe NiftyMedia. 63mts chart - click here Nifty has shown it is stronger than thought by bouncing off the channel's upper boundary. For tomorrow, my stance is revised to bullish. Since we are at ATH, I do not have an upper target, but my support level will be 21037.
NSE:NIFTYLong
by viswaram
13th Dec ’23 - Nifty Stance change to neutral worked perfectlyNifty Analysis Recap from yesterday: “But from a real price action perspective, I have changed my ultra short-term stance to neutral now. To gain back the bullish momentum, Nifty has to close above 21037. To go bearish, Nifty has to fall below 20691.” 4mts chart link - click here Nifty does a classic U-turn today, around the 20770 levels. For a moment I thought the neutral stance was not working and we would have to go into bearish mode. A small pullback was expected, but a 180pts mammoth reversal was not there in my mind. From a headline perspective, we closed flat today, which means neutral stance continues for tomorrow. 4mts chart link - click here Both BankNifty and NiftyIT orchestrated the U-turn. NiftyIT fell 781pts ~ 2.33% intraday to a session low of 32715 and then recovered 390pts ~ 1.19%. What this recovery did to Nifty was to shoot the bearish hopes in the leg. No matter what happens, the bulls are not giving room for the bears to breathe. The dip buying is so intense that I kind of feel its frothy. 63mts chart link - click here Nifty is still above the ascending channel, the bulls are still in control. All eyes will be on the FOMC meeting by FED. Any hints of not cutting the interest rates in 2024 may spook the US markets. We have the Nifty expiry tomorrow and as it stands the OTM premiums are pretty low indicating the option sellers are not expecting a big more tomorrow. In case we pick a direction tomorrow, the short sellers (PE or CE) will have to run for cover and that could spike the option premiums. I am going with a neutral stance for tomorrow also and wish to go bullish above 21037 and bearish below 20702.
NSE:NIFTY
by viswaram
WIPRO Ltd., 20% ROI, Right time to invest.Right time to invest. fundamentally good. . Entry:425 target:435 / 459 / 531 stoploss: 415 major stoploss/ support: 399 . . Enter conservatively after "425" . IT stocks are going to boom. long term investment; min 20% return. huge potential is there. Long term holding ; if you are interested in invest NOW, go for it with small risk, . . . . more than that "WIPRO". , is fundamentally good. . . .refer our old idea attached below
NSE:WIPROLong
by TheNuraTrading
8
12th Dec ’23 We have a change in stance today! Nifty PostMortemNifty Analysis Recap from yesterday: “For tomorrow also I prefer to maintain the bullish stance. If we are unable to build momentum and Nifty is falling to the 20900 levels then I may have to change the stance to neutral by the end of the day.” 4mts chart link - click here Even though we had a gap up opening, the same did not sustain and the round of selling started by 10.07. The selling momentum did not pick up until 12.19 post which we fell almost 150pts. Although the final closing was at 20906, it ticked my checklist for the stance change. My view for tomorrow is neutral. Even BankNifty has a stance change today (will discuss that shortly). A wolf dressed as sheep today was NiftyIT. INFY had a negative start as its ADR was down 3% after the news of CFO leaving. To compensate for that TCS was trading with super gains. This kept the NiftyIT index above water till 14.31. Nifty IT 4mts chart link - click here Then at 14.35 we had a good red candle that tipped the scale and guided Nifty50 to accelerate the fall. Why I said the wolf among the sheep is because NiftyIT retraced those points and ended the day flat. There was a 167pts ~ 0.5% recovery between 14.51 to 15.07. All eyes are on tomorrow if NiftyIT will go green or not. NiftyIT has played a good role in the recent rally of Nifty50. 63mts chart link - click here Nifty can fall a lot more and still be in the uptrend. That is because we are well above the ascending channel. But from a real price action perspective, I have changed my ultra short-term stance to neutral now. To gain back the bullish momentum, Nifty has to close above 21037. To go bearish, Nifty has to fall below 20691.
NSE:NIFTY
by viswaram
ZENSARTECHWhat Does a Cup and Handle Pattern Tell You? American technician William J. O'Neil defined the cup and handle (C&H) pattern in his 1988 classic, How to Make Money in Stocks, adding technical requirements through a series of articles published in Investor’s Business Daily, which he founded in 1984. 1 William J. O'Neil. "How to Make Money in Stocks." McGraw-Hill Education, 2009. O'Neil included time frame measurements for each component, as well as a detailed description of the rounded lows that give the pattern its unique teacup appearance. As a stock forming this pattern tests old highs, it is likely to incur selling pressure from investors who previously bought at those levels; selling pressure is likely to make price consolidate with a tendency toward a downtrend trend for a period of four days to four weeks, before advancing higher. A cup and handle is considered a bullish continuation pattern and is used to identify buying opportunities. It is worth considering the following when detecting cup and handle patterns: Length: Generally, cups with longer and more "U" shaped bottoms provide a stronger signal. Avoid cups with sharp "V" bottoms. Depth: Ideally, the cup should not be overly deep. Avoid handles that are overly deep also, as handles should form in the top half of the cup pattern. Volume: Volume should decrease as prices decline and remain lower than average in the base of the bowl; it should then increase when the stock begins to make its move higher, back up to test the previous high. Weekly Point view Sector Point View
NSE:ZENSARTECHLong
by lokeshparihar
Nifty Live Intraday Updates for 07-12-23 ! 🐂 Market Outlook 📈 NIFTY continues its upward trend, while Banknifty indicates signs of profit booking. 📊 Chart Analysis: NIFTY exhibits a hanging man, while BANKNIFTY shows a bearish engulfing, suggesting a potential pause or dip. 📈 Open Interest: Option chain remains neutral with support at 20900 and resistance at 21000. 🔄 PCR (Put-Call Ratio): PCR at 0.8 indicates a neutral sentiment. 💹 FII Option Activity: Net positive as 2L calls and 1.7L puts bought. 📉 FII Futures Data: Bullish trend with a 2000 Crores buy; Overall OI turned positive at 23K qty. 💼 FII Stock Data: Minor 80 Cr sell, indicating a relatively small impact. Nifty important levels to watch are as follows #Support: 20850 Sell below: 20850 only on 15 minute candle closure below the level. Target 1: 20785 Target 2: 20665 #Resistance: 20970 Buy Above: 20970 only on 15 minute candle closure Above the level. Target 1: 21040 Target 2: 21150 => # Remember each level will act as a support and resistance individually so there is a probability of reversal and a pullback on either side so its better to make an habit to book profits at each targets and re-enter again after a breakout from the same with a proper stoploss as per your own risk appetite. => # Please do your own research before initiating any trade. Always use stoploss in order to protect your capital. => # Please refer our Indicators published on tradingview if you find it useful give it a like. => # Follow us for more such information and educational ideas and Indicators. Give it a like if you appreciate the idea. Queries will be answered in comment section. #Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
NSE:NIFTY
by InvestyourAsset
WIPRO BULL REVERSAL SETUP NSE:WIPRO Wipro Ltd. is a global information technology, consulting, and outsourcing company, that engages in the development and integration of solutions. Technical Analysis = Ended Elliot Correction wave at major support Zone. = Formed a doji bar on daily chart and 5 day consolidation range. = RSI and stochastic are rising from below. = The Nifty IT sector is also forming a range that possibly can break out in upcoming sessions. - Entry is above range marked on chart - Stop loss is below the doji candle Formed at support zone. Next resistance zone is 400. Study chart for visual view. Keep learning Happy trading.
NSE:WIPROLong
by SANJAYPATIDAR_
2
#Nifty Directions and levels for NOV 28"Good morning, friends🌺! As of November 28th, there is no significant difference in the global and our local market sentiments compared to the last session. The global market sentiment remains bullish, as indicated by the Dow Jones. However, our local market shows a moderately bearish trend. It might open with a slight gap-up or a neutral start, considering the GiftNifty value at +5. Structurally, there is a distribution wave occurring. So, if the market experiences a pullback with grinding, we can expect rejection around the immediate resistance level. However, if the pullback forms a solid structure, we can consider that a bullish sign. On the other hand, if the market opens with a gap-down or experiences sharp initial declines, the range-bound market is likely to continue."🤝
NSE:NIFTY
by Manickamtraders
Nifty Live Intraday updates for 24-11-2023Nifty important levels to watch are as follows #Support: 19785 Sell below: 19785 only on 15 minute candle closure below the level. Target 1: 19730 Target 2: 19640 #Resistance: 19835 Buy Above: 19835 only on 15 minute candle closure Above the level. Target 1: 19880 Target 2: 19930 => # Remember each level will act as a support and resistance individually so there is a probability of reversal and a pullback on either side so its better to make an habit to book profits at each targets and re-enter again after a breakout from the same with a proper stoploss as per your own risk appetite. => # Please do your own research before initiating any trade. Always use stoploss in order to protect your capital. => #If you are Unable to trade properly and dissatisfied with your manual trading results due to psychological disadvantages or busy schedule or "Fear & Greed" emotions, then Algorithmic trading can be the most useful solution to overcome such problems. Kindly follow us and join us using details mentioned below the idea. => # Please refer our Indicators published on tradingview if you find it useful give it a like. => # Follow us for more such information and educational ideas and Indicators. Give it a like if you appreciate the idea. Queries will be answered in comment section. #Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
NSE:NIFTY
by InvestyourAsset
Nifty Live Intraday Updates for 11-11-2023Nifty important levels to watch are as follows #Support: 19330 Sell below: 19330 only on 15 minute candle closure below the level. Target 1: 19300 Target 2: 19270 Target 3: 19250 #Resistance: 19365 Buy Above: 19365 only on 15 minute candle closure Above the level. Target 1: 19390 Target 2: 19420 => # Remember each level will act as a support and resistance individually so there is a probability of reversal and a pullback on either side so its better to make an habit to book profits at each targets and re-enter again after a breakout from the same with a proper stoploss as per your own risk appetite. => # Please do your own research before initiating any trade. Always use stoploss in order to protect your capital. => #If you are Unable to trade properly and dissatisfied with your manual trading results due to psychological disadvantages or busy schedule or "Fear & Greed" emotions, then Algorithmic trading can be the most useful solution to overcome such problems. Kindly follow us and join us using details mentioned below the idea. => # Please refer our Indicators published on tradingview if you find it useful give it a like. => # Follow us for more such information and educational ideas and Indicators. Give it a like if you appreciate the idea. Queries will be answered in comment section. #Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
NSE:NIFTY
by InvestyourAsset
1
#nifty direction and levels for NOV 3"Good morning, friends! As of November 3, the global market sentiment is bullish, as indicated by the Dow Jones. Our local market is also showing a moderate bullish trend. It may open with a long gap-down start because the gift nifty indicates 100+. If it opens with a long gap-up, we can expect a rally continuation when it sustains. On the other hand, if it doesn't sustain after the gap-up and undergoes a minimum 38% Fibonacci correction, we should consider this as a corrective change."
NSE:NIFTY
by Manickamtraders
Nifty Live Intraday updates for 02-11-2023 !Nifty important levels to watch are as follows #Support: 19105-19100 Sell below: 19105-19100 only on 15 minute candle closure below the level. Target 1: 19060 Target 2: 19000 #Resistance: 19165 Buy Above:19165 only on 15 minute candle closure Above the level. Target 1: 19210 Target 2: 19265 => # Remember each level will act as a support and resistance individually so there is a probability of reversal and a pullback on either side so its better to make an habit to book profits at each targets and re-enter again after a breakout from the same with a proper stoploss as per your own risk appetite. => # Please do your own research before initiating any trade. Always use stoploss in order to protect your capital. => #If you are Unable to trade properly and dissatisfied with your manual trading results due to psychological disadvantages or busy schedule or "Fear & Greed" emotions, then Algorithmic trading can be the most useful solution to overcome such problems. Kindly follow us and join us using details mentioned below the idea. => # Please refer our swing based support and resistance indicator if you find it useful give it a like. => # Follow us for more such information and educational ideas and Indicators. Give it a like if you appreciate the idea. Queries will be answered in comment section. #Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
NSE:NIFTY
by InvestyourAsset
1
#Nifty direction and levels for NOV 2"Good morning, friends! As of November 2, the global market sentiment is bullish, as indicated by the Dow Jones. Our local market is also showing a moderate bearish trend. It may open with a long gap-down start because the Giftnifty indicates 150+. If it opens with a long gap-up, we can expect a rally continuation when it sustains (it should break the minor 78%). On the other hand, after the gap-up, if the market rejects around the minor levels of 61 or 78%, then we can expect a range market correction."
NSE:NIFTY
by Manickamtraders
1