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Niftylevels

Bullish Outlook for Nifty: Key Levels to Watch "In the last trading session, Nifty broke through a significant resistance level at 24472, hinting at a positive momentum shift. Currently, there is a substantial Open Interest (OI) of 45 lakh at 24500, which solidifies this level as a new support. With the market holding firm above 24550 and OI beginning to accumulate at 24600, we might be gearing up for a strong push towards the 24700-24800 range. However, traders should be cautious: a dip below 24472, especially if Nifty falls under 24450, would negate our bullish thesis, making long positions less attractive. This analysis is supported by the attached screenshot showing the latest OI and price action dynamics. Join me in monitoring these pivotal developments as we prepare for Monday's session."
NSE:NIFTYLong
by strategystack
#Nifty directions and levels for August 4th week.Good evening, friends! 🌺🍬 Here are the market directions for the 4th week of August: Global Market Overview In the previous week, global markets had a solid bullish bias. However, this week, a few important events like the FOMC minutes, the Fed Chair's speech, and Initial Jobless Claims are on the horizon. So, the market may move based on these data releases. As per the chart structure, I'm expecting a bullish bias. Nifty and Banknifty Last week, both Nifty and Banknifty experienced significant swings, but these movements stayed within a range. Structurally, it's a range-bound market. So, if the market breaks out of this range, we can expect the next movement. Until then, the market will likely continue within the range. However, the global market is indicating a bullish bias, so if that plays out, we can expect the pullback continuation. But I started with a bearish bias because the structure suggests it. Let’s look at the charts. Structurally, both Nifty and Banknifty represent the same sentiment: Nifty - Current View: If Nifty starts with a bullish bias in the upcoming session, then it may face rejection around the 61% Fibonacci level. If that happens, it may retrace a minimum of 23% to 38%. After that, if it finds support around the 38% level, the bullish sentiment will continue, and we can expect a rally once it breaks the previous high again. On the other hand, if it breaks below the 38% Fibonacci level, it may enter a correction phase. The correctional targets are expected to be a minimum of 61% to 78%. This is our first variation. Alternate View: The alternate view suggests that if the initial pullback sustains or breaks the 61% level, then the rally will continue with some minor consolidation. In this case, the targets are expected to be a minimum of 24,713 to 78%. If the rally faces rejection around the 78% level, we can expect a minor correction of 23% to 38%. This correction is minor.
NSE:NIFTY
by Manickamtraders
Nifty Intraday Trade Setup | 19th AugustNifty opened with a gap-up, saw profit booking in morning which dragged Nifty near our buy zone 24200. Nifty took support and we saw sharp rally towards 24563. For tomorrow, buy Nifty if sustains above 24530 we expect to see some up-move towards 24580 and above levels. On the other side, if Nifty breaks 24400 on the downside we may see 24350 and lower levels marked the chart. In case Nifty opens with Gap-up let it sustain above 24600 for fresh buying. Expectations: Volatile movement. Intraday Levels: Buy Above - 24530 Sell Below - 24400 To motivate us, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India
NSE:NIFTY
by InvestPro_India
2
16 Aug 2024 - Change in Stance to Bullish, Nifty up 174ptsLast week we discussed how Nifty was still in the bearish stronghold and then a break above 24389 was mandatory for a change in stance. 09 Aug 2024 - Nifty down 334pts, makes a 61.8% This week, Nifty not only broke the 24389 ~ 61.8% retracement level but went ahead and broke the 24525 ~ 78.6% level too. This double break has prompted me to go bullish, but there is one catch - BankNifty is still flat though. The momentum has come from the IT sector this time. On Friday, 16th alone - we had an intraday rally of 359pts ~ 1.49%. I thought the Monkey Pox (mpox) news might weigh in and the markets may remain flattish, but the rally still continues to amuse me.  Regarding the mpox, I was quite worried about the below article from WHO. How many of you think we may have another round of lockdown? This time the public may turn against the government for ruining their livelihood and enforcing vaccine mandates. Markets are not pricing in this news yet, or the news has probably not reached the threshold to create panic. I also feel the US markets may react first and then us. "WHO Director-General declares mpox outbreak a public health emergency of international concern" Nifty has managed to go up 174pts ~ 0.72% for this current week, the ATH is still 500pts away but the bullish momentum may help us close the gap. I personally feel we may not go higher than 24800 till the 22nd. Our stance is bullish.
NSE:NIFTYLong
by viswaram
NIFTY Intraday Trade Setup For 19 Aug 2024NIFTY Intraday Trade Setup For 19 Aug 2024 Bullish-Above 24570 Invalid-Below 24520 T- 24850 Bearish-Below 24330 Invalid-Above 24380 T- 24100 NIFTY has closed on a slight bullish note with 0.71% gain last week. Index finally gave breakout of 24400 and 24000 daily TF range. Fair chance of both gap filling in daily TF. However recent sentiment was bearish so incase if index closes below 24400 in daily TF then chances of a false breakout will be high. Tomorrow we will plan a bullish trade above 24570 but considerable on a pullback breakout setup. 24330 will be an intra support. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 24570 then we will long for the target of 24850. For selling we need a 15 Min candle close below 24330. T- 24100. 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 levels - Aug 19, 2024Nifty support and resistance levels are valuable tools for making informed trading decisions, specifically when combined with the analysis of 5-minute timeframe candlesticks and VWAP. By closely monitoring these levels and observing the price movements within this timeframe, traders can enhance the accuracy of their entry and exit points. It is important to bear in mind that support and resistance levels are not fixed, and they can change over time as market conditions evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance to consider. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We hope you find this information beneficial in your trading endeavors. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you success in your trading activities!
NSE:NIFTY
by sacxe
#Nifty direction's and levels for August 16th.Nifty has a range-bound market structure. There are two possible scenarios:* 1. *If the market finds support around at the 61% Fibonacci level, we can expect a bounce back that may once again reach today's high.* 2. *If the market consolidates around those support levels, (the 61% Fibonacci level), then the correction may continue further.* *In my personal opinion, if you're a conservative trader, it's advisable to go with the latter scenario(2nd one), as there is a 60% probability of success.*
NSE:NIFTY
by Manickamtraders
2
NIFTY Intraday Trade Setup For 16 Aug 2024NIFTY Intraday Trade Setup For 16 Aug 2024 Bullish-Above 24200 Invalid-Below 24150 T- 24400 Bearish-Below 24090 Invalid-Above 24140 T- 23900 NIFTY has closed on a flat note on Wednesday, formed a tiny daily candle of less than 100 points range. Since its a neutral candle we cant be biased. We will simply wait for that 100 points range to broken either side. 24200 and 24090 is the range for Friday. In daily TF NIFTY has maintained range of 24400 and 24000. Next week we may get a breakout. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 24400 then we will long for the target of 24400. For selling we need a 15 Min candle close below 24090. 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.
NSE:NIFTY
by Omahto
Nifty Intraday Trade Setup | 16th AugustNifty opened with a gap-up and we saw highly range bound day where Nifty spent most of the time within 24100 - 24190 and we didn't get any trade based on the idea we shared for today. For Friday, if Nifty sustains above 24200 we expect to see some up-move towards 24240 and above levels but we aren't confident in buying and look for sell on rise opportunities. On the other side, if Nifty breaks 24090 on the downside we may see 24050 and lower levels marked the chart. Expectations: Volatile movement. Intraday Levels: Buy Above - 24200 Sell Below - 24090 To motivate us, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India
NSE:NIFTY
by InvestPro_India
1
Nifty levels - Aug 16, 2024Nifty support and resistance levels are valuable tools for making informed trading decisions, specifically when combined with the analysis of 5-minute timeframe candlesticks and VWAP. By closely monitoring these levels and observing the price movements within this timeframe, traders can enhance the accuracy of their entry and exit points. It is important to bear in mind that support and resistance levels are not fixed, and they can change over time as market conditions evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance to consider. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We hope you find this information beneficial in your trading endeavors. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you success in your trading activities!
NSE:NIFTY
by sacxe
Nifty Intraday Support & Resistance Levels for 14.08.2024On Tuesday, Nifty opened flat but slipped below the previous day's low, ending the session at 24139 with a loss of 208 points. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways. Support Levels: Near Demand/Support Zone (15m): 24079 - 24118 (tested yesterday) Near Demand/Support Zone (75m) for Weekly Trade: 23960 - 24077 Major Demand/Support Zone (Daily): 23350 - 23667 Resistance Levels: Near Supply/Resistance Zone (30m): 24268 - 24330 Far Supply/Resistance Zone (75m): 24381 - 24444 Far Supply/Resistance Zone (30m): 24686 - 24745 Far Supply/Resistance Zone (75m): 24754 - 24835
NSE:NIFTY
by PriteshPal
#Nifty directions and levels for August 14th.Good morning, friends! 🌞 Here are the directions and levels for August 14th. Market Overview Global markets have been maintaining a range-bound movement, while our local market shows a moderately bearish sentiment. Today, the market may open with a neutral to slightly gap-up start because the SGX Nifty indicates a positive 30-point move as of 8:00 AM. Yesterday's Movement: In the previous session, Nifty Nifty experienced drastic drops. However, if you take a broader view of the charts, these movements occurred within a range-bound market. Why does this matter? Because if the market rejects any of the support levels, a solid bounce might occur. So, what about today? I’m highlighting two possible scenarios: 1st Scenario: >Even if the market opens with a gap-up, structurally it may not sustain. If this happens, we can expect the correction to continue towards the levels of 24,079 to the 78% Fibonacci level, to the demand zone when it breaks the previous day’s low. >After that correction, if the market finds support around the major support levels, we might see a 23% to 38% bounce back. However, this bounce is not guaranteed; if it doesn’t occur, the correction may continue with minor consolidations. 2nd Scenario: If the gap-up sustains structurally, we can expect an initial bounce back of 23% to 38%. Usually, sharp movements bounce back within this range. If the price gets rejected at this level, the major trend will likely continue. However, if it breaks the 38% Fibonacci level solidly, the current movement may shift to a range-bound market. But the probability of this is less likely. These are today's expectations.
NSE:NIFTY
by Manickamtraders
7
NIFTY prediction for tomorrow 14 Aug 24NIFTY has shown a full sell-off today after the Heisenberg report on the SEBI chairperson. If we look at the chart now: The market is trading near the support area of 24000. The market has been receiving good support from this zone and is expected to take it again. However, as the market has bearish sentiments right now, it might break the level and continue the bearish momentum till 23500. Support levels: 23980, 23506 Resistance levels: 24441, 200 EMA, 24696 If we look at the OI data: PCR = 0.55 shows bearish market behavior. There has been a huge PE sell-off today, which shows bulls are not trusting the market anymore and come out. There is too much CE writing at higher levels than PE writing at lower levels, which shows a high chance of a bearish market in the upcoming session. I am expecting the market to follow 3 cases which are marked on the chart. Case 1 : If it breaks to the downside, it might take minor support at 24000, but it breaks to the downside and can give huge targets till 23500. Case 2 : If 24000 holds, it might get stuck in a range of 24000-24200. Case 3 : If it stays in the channel, it can become bullish and have targets of 24441. Reason: RSI < 40, showing the market is going to be in a bearish structure. The Price is trading in a good support zone. It takes support and might end up sideways. PCR = 0.53 shows that the market is huge Bearish. Price < VWAP shows a Bearish market structure. Verdict: Bearish or Sideways. Plan of action: Wait for 15 min candle. Wait for good price action on the 24000 levels, and make your positions based on cases accordingly.
NSE:NIFTYShort
by finnova_
Nifty Intraday Trade Setup | 14th AugustNifty opened with small gap-down and we saw selling pressure since morning, sell trade triggered below 24300 as per intraday set-up shared on Tradingview for today, we updated that we expect to see more selling once Nifty breaks 24200 and it achieved all targets on downside. For tomorrow, if Nifty sustains above 24210 we expect to see some up-move towards 24250 and above levels but we aren't confident in buying and look for sell on rise opportunities. On the other side, if Nifty breaks 24080 on the downside we may see 24040 and lower levels marked the chart. Expectations: Volatile movement. Intraday Levels: Buy Above - 24210 Sell Below - 24080 To motivate us, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India
NSE:NIFTY
by InvestPro_India
1
Nifty50 weekly expiry analysis for14/08/24.Nifty is trading in a parallel channel and is around the support trendline. From the last week sell the markets recovered and are now again around the lower levels. Daily 20 ema has been creating a resistance for the market and a good rejection is seen from that level. Even on the smaller time frame, market is trading below the moving averages, which signifies a bearish market. Fibonnaci and the price action are also looking bearish on the daily charts. Tomorrow is the weekly expiry for both the indices and a chance of seeing a follow through candle are there, if there is a flat to slight gap up opening (around 24150-180). A huge gap up will create confusion and market may form a doji candle. Major support levels :- 24090, 24000, 24910 Resistance levels :- 24225, 24320 Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade