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Niftyit

12th Oct ’23 - BN hides the NiftyIT fall today - PostMortem BankNifty Analysis Banknifty also had a perfect flat day today. Since we did not have an attempt to fall, I assume the bulls have a slight advantage over the bears. Its inability to take out the 44738 resistance was also quite worrying. But there was something strange and heroic by BN today. NiftyIT was falling pretty sharply today on the back of results from TCS. INFY also started falling even though the results came after market hours. NiftyIT fell 1.67% today but had a total swing range of 2% today. The major reason why it was not reflecting on Nifty50 was due to BankNifty’s counter-performance along with RELIANCE & ITC. Will try to write an article this weekend on why NiftyIT should have Futures & Options enabled and an independent expiry day. The only volatile index out there is IT and since we have a VIX collapse the option sellers are making only peanuts these days (me included). NiftyIT if enabled for FnO will have attractive premiums as it is quite expected to move 1.5 to 2% intraday. On the 1hr chart, BN shows a sideways pattern. I wish to continue my neutral stance till the resistance of 44738 is taken out. And wish to change to bearish if we break the 44380 levels. After the market closed we got the CPI inflation data and it came at 5.02% - source. This should give a positive boost for tomorrow. Also, the US CPI came at 3.7% - source - but as it stands SPX is trading flat.
NSE:BANKNIFTY
by viswaram
11th Oct ’23 - BankNifty is still neutral, Nifty has broken outBankNifty Weekly Expiry Between the last expiry and today, BankNifty has gained 525pts ~ 1.2%. The fall on 9th October was nicely covered up by the price actions on 10th and 11th. This is the 2nd time BankNifty has recovered after falling below 44068, the bulls are still strong. BankNifty Today Analysis There were many things different about the expiry today. We went in with very low options premium. So when we opened gap-up of 180pts the option mispricing was very much evident. It took a while for the CE options to start surging - most interestingly the OTM call options went on to make day’s high after BankNifty started cooling off from the day’s high. Few of the OTMs surged above 120% - quite unbelievable. If I draw an orange line from the recent double-top formation - it ends up right at today’s intraday high. The inability to break this interim top will become a problem for BankNifty bulls. Nifty on the other hand managed to cut through the resistance, BankNifty is still undecided. This is the main reason I went with a neutral stance yesterday, even though we ended the day with 0.35% gains - the bulls are not strong yet. For tomorrow I wish to go long only if BankNifty manages to take out the 44712 interim resistance in the opening hour. Ideally, it should be able to do it as HDFC Bank was looking quite dangerous in the afternoon session. These days NiftyIT has more fluctuation and volatility than BankNifty making it an interesting candidate for FnO - Still not sure why NSE has not considered it.
NSE:BANKNIFTY
by viswaram
Nifty Trade Setup for 10-10-2023Nifty important levels to watch are as follows #Support: 19480 Sell below: 19480 only on 15 minute candle closure below the level. Target 1: 19445 Target 2: 19385 #Resistance: 19540 Buy Above: 19540 only on 15 minute candle closure Above the level. Target 1: 19580 Target 2: 19640 => # 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
26 Sep ’23 Post Mortem on Nifty - Neutral with a bearish tintNifty Analysis Recap from yesterday: ”I wish to change my stance to neutral as long as we remain between these 2 orange lines. Personally I prefer if Nifty breaks down and retests the August lows by this Thursday.”. The prediction came out exactly true, but the trading results today were not satisfactory. Nifty stayed in a very tight range today with no indication of a breakdown. I assume most traders were looking out for bullish opportunities, the swift move from 11.30 to 13.00 yesterday would have given some hope to the bulls. As soon as the markets opened this bullish case was not that strong, so I was looking out for moderately bearish to range bound trade possibilities. Since it was the FinNifty expiry today, I committed the margin to a few OTMs of that index. When the opportunity came, I was unable to exit and take positions in Nifty. The opportunity did not last that long because markets were range bound. On the 1hr chart we are almost at the centre point of the orange lines (support and resistance) i.e. 19562 and 19786. Nifty has to either fall below or rise above one of these lines to make the big move. Personally I prefer if it breaks the support and falls to the 19470 levels by tomorrow. As long as Nifty does not do that - I wish to maintain my neutral stance.
NSE:NIFTY
by viswaram
17 Jul '23 Post Mortem on BankNifty up 826pts b/w 12.45 to 15.20The real move on banknifty came after HDFCBK declared its results i.e after 12.45. Till then it was happy to trade in a flattish manner. The opening 4 x 5mts candle was interesting, but the downside was also limited as there was no real selling pressure. Once the HDFCBK results were out, banknifty started surging. Even other banks also joined the party. We went up 826pts ~ 1.85% between 12.45 to 15.20. Once it crossed the 45000 level - it was like it found some additional firepower. Most of them would have missed the counterbalance move in NiftyIT. It fell over 2.26% ~ 715pts during the period when banknifty was gaining. This might be to keep nifty50 in a tight range. On Friday we discussed how the breakout from the bearish trend line would give banknifty momentum. Today was an example of that, even though enticing - I did not build up long position in banknifty today. Thought will reserve the funds for the FinNifty expiry tomorrow.
NSE:BANKNIFTYLong
by viswaram
Nifty Trade Setup for 12-07-2023Nifty Important intraday levels to watch for 12-07-2023 # Support : 19420 Short if candle closes below 19420 # resistance : 19460 Long if candle closes above 19460 #Targets on downside after break of support. Target 1= 19360-19350 Target 2= 19300 #Targets on upside after break of resistance. Target 1= 19500-19525 Target 2= 19585 Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
NSE:NIFTY
by InvestyourAsset
HCL Breakout & Retest PatternOn the daily chart of HCL Technologies, we can observe a strong breakout above a resistance zone that was tested multiple times. Following the breakout, the price has pulled back to the flip zone, presenting a potential swing trading opportunity. For an entry, it is advisable to wait for the close of a strong bullish candle near the flip zone before going long. This will help to confirm the bullish momentum and reduce the risk of a false breakout. Regarding the stop loss, it is recommended to place it below the flip zone to limit potential losses if the price does not follow through with the expected bullish movement. Regarding the target, it would be prudent to aim for the next resistance zone, as marked on the chart. This area represents a potential area of profit-taking and could stall the upward momentum of the price. Thank you for reading. Please consider liking and following me for more trading insights.
NSE:HCLTECHLong
by vt_trader
2
Ride the Wave: KPITTECH- Breakout Signals Profitable OpportunityKPITTECH, has recently caught the attention of traders with its impressive momentum. stock experienced a breakout from the bullish trendline, marking a significant turning point. Currently, the stock is testing its breakout at trendline which was supply line before breakout, which has now transformed into a demand line. 📊 Key Analysis Points 📊 When examining the daily timeframe, it's clear that the stock is holding above its breakout level with minimal volume, confirming the bullish outlook at retest of breakout. Zooming in to the 75-minute timeframe, we observe a bullish RSI divergence, providing additional confirmation for a buy entry at the retest of the trendline breakout. Moreover, analysing the volume on the 75-minute timeframe, we notice that the majority of bullish candles exhibit higher volume, surpassing the 50-day moving average of volume. This indicates a significant buying interest and reinforces the bullish setup. Based on this analysis, we can plan our buy trade if the price surpasses today's high at 1067. Once the breakout is confirmed, we can enter the trade at 1069. To manage risk, it is recommended to place the stop loss below the previous swing low, around 1044, it's prudent to keep a buffer and set the stop loss at 1041. it's crucial to trail stop losses to secure profits as the trade progresses. 🔍 Educational Insights 🔍 Before concluding this analysis, let's clarify some technical terms used: 1. Breakout : This refers to a price movement that surpasses a key resistance level or trendline, indicating a potential shift in market sentiment and often leading to further price appreciation. 2. Volume : It represents the number of shares or contracts traded during a given time period. Analysing volume can provide insights into the strength or weakness of price movements. Curious about volume? Check out my educational article on volume analysis that made it to TradingView's prestigious Editor's Pick: 3. RSI (Relative Strength Index) Divergence : RSI is a popular momentum oscillator. Divergence occurs when the price and RSI indicator move in opposite directions, indicating a potential trend reversal. curious about RSI Divergence? Learn more in my educational article on Divergence, chosen for TradingView's Editor's Pick: Remember, this analysis is for educational purposes only and does not serve as financial advice. As a reminder, I am not a SEBI registered analyst. If you found this analysis helpful, please like and share your observations in the comments section below. Your feedback keeps me motivated to consistently provide valuable content. Don't forget to follow me on TradingView for more articles and trade setups. Let's connect and grow together! 😊📈 Follow me on TradingView for more: in.tradingview.com "The only way to do great work is to love what you do."
BSE:KPITTECHLong
by AfnanTAjuddin
1