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Niftylevels

Nifty on Radar - 21 MayToday, with a gap down opening the index is recovered with strong momentum and made a close above the previous close. In the domestic market, foreign selling ahead of the final two phases of national elections is expected to keep volatility high. The index took strong support and over the last six trading sessions, it has shown a strong uptrend rally. The current S1 is placed at 22300 and R1 is placed at 22600 levels. The selling by FIIs and elevated India VIX levels are exerting pressure on it. Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
NSE:NIFTYLong
by ssvirdi
NIFTY analysis for tomorrow 22 MayAs we discussed, Nifty ended sideways today. If we look at the chart now: The market is trading at the higher side of the channel. Right now, the market is in a mini-channel. If it breaks to the downside, it can result in bearishness in the market to 200 EMA levels. NIFTY seems more bullish than Banknifty, where Banknifty is preparing for a bearish structure. It might force NIFTY to be sideways as NIFTY still has good support for lower levels. If we look at the OI data: PCR = 1.10 shows the market's bullish structure. 22500 is Maxpain, while 22400, and 22500 have good PE writing, which is going to act as a nice support zone. PCR has fallen from 1.25 to 1.10, which shows that the CE windup today was good. I expect the market to go sideways or bearish. Reasons: Price ~= EMA(13) and Price >> EMA (200). NIFTY might retrace to 200 EMA levels. RSI is 40-60, showing a market sideways structure.\ Fall in PCR from 1.25 to 1.10 shows Bears are increasing their position in the market. Price < VWAP, which indicates the price is weak, might correct itself. The market is in a consolidation phase, trading at the higher side of the uptrend channel. Verdict: SIdeways or Bearish Plan of action : Sell 22550 CE and 22400 PE (Hedge it with 10/-)
NSE:NIFTY
by finnova_
Nifty levels - May 22, 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 directions and levels for May 21st.Good morning, friends! 🌺🍬 Here are the directions for May 21st: The global market is indicating a bullish sentiment based on the Dow Jones, while our local market sentiment also suggests a bullish trend. It might open with a gap-up start, as suggested by GiftNifty, showing an increase of +60 points. Nifty has a minor consolidation structure after the sharp rally. GiftNifty indicates a positive start, and the structure also suggests the continuation of the rally. However, there is major resistance at the 78% Fibonacci level. so, If the market breaks or consolidates around this level, we can expect the rally to continue further, potentially reaching 22,636 to 22,684. and The 22,684 level is a supply zone, so if the rally is rejected there, we can expect a correction of 23% to 38% in the minor swing. Alternatively, if the market is rejected around the 78% Fibonacci level or if the gap-up doesn’t sustain, it may retrace 38% in the minor swing. Here we have two scenarios: 1 - There has been a solid rally, so according to the structure, it could undergo a retracement of 23% to 38%. After that, if it finds support at either 23% or 38%, the rally is likely to continue. 2 - According to the wave structure, a 5-3 structure is forming, indicating a zigzag variation. If the market breaks the 38% Fibonacci level, it may enter a correction phase. If this happens, you can set your target at 50% and 78%.
NSE:NIFTY
by Manickamtraders
NIFTY Intraday Trade Setup For 20 May 2024NIFTY Intraday Trade Setup For 20 May 2024 Bullish-Above 22530 Invalid-Below 22480 T- 22737 Bearish-Below 22430 Invalid-Above 22480 T- 22230 NIFTY has closed on a bullish note with 2% gain last week. It has taken support from the lower trendline support in daily TF. Since last one month we have been discussing that the broad range is 22800 and 21700-800. Breakout of this range will trigger a fresh trend. Overall sentiment is sideways, this week caters a bullish sentiment inside the range. Monday's intraday range is 22530 and 22430. We will simply trade on this range breakout. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 22530 then we will long for the target of 22737. For selling we need a 15 Min candle close below 22430. T- 22230. 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
17, 18 May 2024 - Nifty looks strong, bullish tone continues...There are a few changes to my daily postmortem report. After I started the MFD business, not getting enough time to write a detailed technical report daily. Thought I would send the reports every day on Thursdays after the Nifty's expiry. The detailed analysis and the 4mts, 16mts, 63mts chart will be explained on my personal blog as well. Here on Tradingview, I will continue to post daily with just the direction and a brief one-liner. You can always contact me if you need more explanation or synthesis. 17th may - Nifty defends 22295 but is unable to break 22519. Stance is still bullish. 18th may - 11.07 candle has a long tail, that went up to 22051 - quite strange though. Targets for Monday - bullish with 22519 to be taken out. Stance will revise to neutral if 22295 is broken
NSE:NIFTYLong
by viswaram
Nifty on Radar - Weekly Review | 18 MayWeekly Marubozu bullish candle piercing the STMA band. 22800 could be tested, if broken then we have 23000+ levels and the potential target is 23800 on the projection scale. According to the volume profile the level of 22050 could act as a strong support and according to chart structure the support is 21800. For momentum reading the resistance is 22600. Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
NSE:NIFTYLong
by ssvirdi
NIFTY analysis for tomorrow 20 May | MondayAs we discussed, NIFTY has a bullish structure as it was tested on a disaster management system. That is exactly what happened today. The market had a huge volatility of 500 points in 10 min. There was no order flow; it was like a pump-and-dump scam. What is SEBI doing regarding these spikes? Let's see for tomorrow's setup- If we look at the chart now: The market is trading at the resistance level right now, as it was a disaster management system testing. There were not many players in the market. So there were no big moments. The important support levels 22293, 22100, on the other hand, 22609(minor resistance), and 22763 are going to provide a nice resistance. If we look at OI data: PCR = 1.25 shows a bullish structure. If we notice today after 11:15 AM, there is a heavy volatility with 500 points. However, there was no order flow in the OI data. 22500 is the maximum pain. 22400 and 22300 have good PE writing that is going to provide a nice support. On the upper side, there is less CE writing, which shows that the market is still going in a bullish direction. FII and DII data are not yet available. I am expecting the market to go higher in the upcoming sessions. Reasons: RSI crossing 60 to the upside might be the start of the new bullish trend. Price > EMA (13,200), which shows the market is ready to go bullish. PCR = 1.25 shows a very bullish sign. Price > VWAP means bulls are getting strength. The market has already given a breakout. It was a good accumulation today; soon, it will shoot to the upside. Verdict: Bullish Plan of action: Sell 22400 PE (Hedge with 15/- Premium)
NSE:NIFTY
by finnova_
Nifty levels - May 21, 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 directions and levels for May 17th.Good morning, friends! 🌺🍬 Here are the directions for May 17th: There have been no changes in the global and local markets. The global market is indicating a bullish sentiment based on the Dow Jones, while our local market sentiment suggests a moderately bullish trend. It might open with a neutral to slightly gap-up start, as suggested by GiftNifty, showing an increase of +20 points. Nifty has moved through four larger swings, which structurally indicates a range market. However, it closed above the range. giftnifty indicating gap-up start, so If the market sustains the gap-up sentiment, we can expect a rally continuation with minor consolidation. This is our first scenario. This means that if the market opens above the supply zone or breaks it with a solid green candle, then the rally is likely to continue. Alternatively, if the market faces rejection around the immediate resistance zone, it may retrace by a minimum of 23 to 38%. This is a trend continuation retracement level. If the market finds support after the retracement around 23 or 38%, we can expect the range market to continue its rally. On the other hand, if the correction breaks the retracement level of 38%, then the market will enter a correction phase, and we can expect the next target to be a minimum of 61 to 78%. This looks similar to the previous day's sentiment.
NSE:NIFTY
by Manickamtraders
Nifty Support & Resistance Levels for 17.05.2024Nifty found support in the demand zone between 22132 and 22071, dipping to a low of 22054.55 before bouncing back nearly 400 points to enter the supply zone at 22409 to 22589. As Nifty currently sits at the 50% retracement level of its recent 1000-point fall (from 22794 to 21821), it will be interesting to see how it reacts from these levels. The nearest resistance remains the same at 22409 to 22589, while the nearest support zone is now identified between 22060 and 22142. Additionally, a farther support zone is observed between 21922 and 22041.
NSE:NIFTY
by PriteshPal
16 May 2024–Stance upgraded to Bullish, Crazy 377pts intraday⬆️Nifty Analysis - Stance Bullish ⬆️ Recap from yesterday: "The good thing for the bulls was the fall ended at 10.27, for the remainder of the day we went into a small range bound trade. The final close was flat at -0.08%." We started today right at the resistance level of 22295 and then started falling. We went below yesterday's low and took interim support at 22119 levels. From there the bounce took us to 22295 again by 12.19 and this time the rejection was stronger and it ensured we fell to the next support level of 22051. What happened then was totally unbelievable, right at that level the rejection ensured we were retracing 377pts ~ 1.71% in 1 hour. Just crazy, unbelievable price action - normally we see that during news/event flows. 13 consecutive green candles, 15 out of 16 candles in green - just magical statistics. On the 63mts TF, just look at the size of the 63mts candle - simply wow. Our stance is now bullish with the next target being 22519. If we are falling, we need to go below 22295 for a neutral stance and 22051 for a bearish outlook. The algos were in deep loss today, courtesy of the fast & furious moves in the last 90mts. The forward test algo shows a profit of 2475, but the actual execution was in deep red due to slippages.
NSE:NIFTYLong
by viswaram
Nifty Intraday Trade Setup | 17th MayNifty opened with a gap-up and we saw a roller coaster session as per the expectations. Nifty made a morning high around 22340, made a low near 22100, came towards morning high and again we saw a fall towards 22050 levels. Last one hour rally was completely beyond expectations which took Nifty from 22050 zones to 22430. For tomorrow, we are not looking for a buy at higher levels and will see sell on rise opportunity in morning session. If Nifty sustains below 22300, we may see 22260 and below. On the other side if Nifty breaks 22430 and sustains above this level, we expect to see further rally towards 22470 and above marked levels on the chart. Expectations: Volatile Day Intraday Levels: Buy Above - 22430 Sell Below - 22300 To motivate us, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India
NSE:NIFTY
by InvestPro_India
1
NIFTY Intraday Trade Setup For 17 May 2024NIFTY Intraday Trade Setup For 17 May 2024 Bullish-Above 22450 Invalid-Below 22400 T- 22675 N-ATH Bearish- Below 22240 Invalid-Above 22290 T- 22050 21800 NIFTY has closed on a bold bullish note with 0.92% gain today. It was moving randomly but last leg move established and closed on a bold bullish note. Index has formed a long wick rejection candle like 13 May. So will simply trade the current trend and sentiment in power. Above today's high on a flat opening we will get get the best trade. Look like Index is all set for a fresh ATH. 22240 will act as a support zone but below this will short. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 22450 then we will long for the target of 22675. For selling we need a 15 Min candle close below 22240. T- 22050. 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