Niftylong
Nifty FuturesNot sure but did Nifty Futures make a double bottom in 15m charts?
I think we can enter with a stop loss of below 14900 for targets of 15100 / 15150 / 15200
CMP 15008
Nifty FuturesNifty Futures
Intraday, 15m charts are quite surely overbought. Check RSI as it is above 80 which means a quick correction may be on its way. No, this doesn't mean that you can go short unless you are just too good a trader. What this means is that we need to wait for the right levels to re-enter in long positions.
Daily charts, as expected don't speak the same language. RSI has just bounced above 50, in the bull area in this time frame. Not only RSI but check Moving Averages. It has just crossed overand the resistance that I see here is at 15450 levels whereas a very strong support is too far at 14765 levels. So, the risk reward ratio doesn't seem good at this point.
The right entry level is at around 15000 and we could add more if Nifty goes down to 14900 levels. The stop loss is clearly below 14750 levels but I don't see that being triggered easily as the daily charts are clearly bullish.
I would also like to mention that 15500 level is strictly for profit booking.
NiftyFirst things first, Nifty is on an uptrend on the daily charts.
As discussed yesterday, Nifty took support on the trend line and bounced back from there. This was a good sign but what needs attention is that the candles have not crossed the decider (middle line) on the upside. We can let our guards down a little once this is done but till then, we have to be cautious.
Hourly charts give us a support at 14750 so you can go long, if you have to with a stop below 14750. Targets can be 15050 and even 15150.
We have already gone long yesterday and we should be looking at profit booking today so I would opt for NOTA (No Trade) today as the end to end risk to reward ratio, 14630 vs 15050 is not favorable.
NiftyGood Morning
Nifty (spot) gives us a gap up opening at 14865 levels as expected. My first target was 14900 in futures which can be considered achieved.
If the world markets support, we can see Nifty making new highs again in March itself.
New support has been made at 14635 levels so there should be nothing to worry about till Nifty breaks and sticks around below this level. Intraday resistance can be seen at 14993 levels. This, I am sure gives us a range for Nifty (Spot).
Nifty SpotNifty Spot
There was a Hammer (bullish pattern) in the 15m chart on 26/02/21 at 15:15 hrs.
14635 levels were from where Nifty had to bounce back but it slipped below it and closed at 14529. Nifty had made a high of 14498 on 11/01/21 which can be considered as a strong support now.
RSI has slipped well below 50.
It also shows a bounceback from the trendline levels which gives us a little confidence that the trend has not changed and is still an uptrend.
15000 levels are a very strong resistance so can buy with Stop Loss below 14498 for targets of 15000.
So, expect the global markets, Nifty doesn't show a lot of strength of it's own today but isn't bearish either.
EASY AND SIMPLE WAY TO GET NOTICED OF CHANGE IN TRENDHi Traders,
In this screenshot, You can see how to see the change in trend in an easy and simple way along with next week's plan for trading in nifty. For detail see the complete explanation in the video link given in the below box.
Yogesh Vats
NiftyRunning correction as expected yesterday. What next? Strategy remains the same, 'buy on dips'
Support can be found at 15000 and target can be around 15500.
Let me remind you that today is an expiry so I'd wait for the second half before taking a trade in Nifty.
Daily charts show that Nifty has taken support on 5 MA and have bounced back from there. We have to wait to see if this bounce is going to carry or Nifty needs to correct a little more.
What I understand is that a lot of positions have been exited due to the correction which means that Nifty should rise without a doubt but you never know what's hidden in this market.
NiftyNifty50 Spot
Candles took support at 5 EMA with lows at 15081 on daily charts. The good part is that the prices bounced back after just touching the 5 EMA levels which may mean that a support has been created at 15080 levels.
Another good part is that the next support level, 10 EMA is not very far and the very next support should be 14900 levels but, 15000 ce has a huge Open Interest at 1,829,625 so chances of prices breaking the 15000 levels are very thin.
15200 is where we focus next. There is an Open Interest of 2,174,850 in 15200 ce which means that there will be a lot of profit booking as soon as Nifty crosses these levels.
Now that we see that there is a chance of Nifty being range bound between 15000 and 15200, the next strong resistance can be seen at 15500 levels as the Open Interest in 15500 ce is 2,356,125 followed by 16000 with an Open Interest of 2,515,650 on 16000 ce.
If we get on the data that is shown, there are no call or put writers at this moment which means chances of Nifty going against the current are very less.
One word definition of the entire study is 'Uptrend' and the strategy is 'Buy on dips'
RELATION OF MY ANALISIS WITH NIF PRICE MOVES WITH CONSISTENT ACCHi traders,
two weeks ago before the big event of the budget, I published my analysis where I gave you two conditions and levels of how they worked see yourself in detail explanation of my video. the link is given in the box.
Yogesh Vats
Nifty 12-2-21Nifty Spot
Charts
Nifty seems to have respected the support at 15050 and if so, correction might justbe over now.
Daily charts have an uptrend with a new support at 14950 levels followed by 14800 levels thought I can't find a good reason to say that Nifty might test these levels.
Data
15200 is a very critical level with an Open Interest of 1,453,500 in ce
15400 is the next resistance level with an Open Interest of 811,275 in ce followed by an Open Interest of 943,275 in 15600 ce.
15100 maintains as a strong intraday support with an Open Interest of 1,345,800 pe
15000 should be the next and a very strong support with an Open Interest of 1,338,375 pe
So Nifty might just hang around at 15100 to 15300 levels for a while before it attempts to break 15400.
Gist:
We are seeing an uptrend so the strategy remains buy on dips.
📊#Nifty intraday levels for Friday 12-02-2021NSE:NIFTY
📊 Each levels Act as support and resistance📈📉. one can trade on 3min, 5min and 15 min as per their trade set up. for reference one can check our old published ideas.
if any candle taking support from any level then try to identify that is that reversal candle at support or what if that is reversal candle then go long above that reversal candle and stop loss can be below that support line or that reversal candle's low whichever lower, same way if any candle getting resistance from any resistance level and if one can find reversal candle for short over there then one can short below that candle and stop loss can be that resistance line or that reversal candle's high whichever higher. even one use their own trade setup with these levels. everyday levels are different and same way the candles which gonna be formed on support or resistance can be different so cant say here perfect numbers to buy or sell or stop loss . hope one can understand that better to trade with own wisdom in live market even check future chart as well for better profitable trade.
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.
Chart PatternState Bank of India Uptrend continues
Nifty Bullish
World market Bullish
Crypto Bullish
Flag and Pole Pattern
Very strong support on Nifty*Study of spot levels
The entire world seems to be losing strength. The markets are rising but the speed and strength and this may indicate some correction.
Now, even if there is a correction, Nifty has found a very strong support at 14725. That is a good 400 points from where we stand right now.
This gives us an idea of the maximum risk that bulls are looking at in this level which is not too much in regards with what profits can be. There is no resistance level to count for so yes, sky is the limit.
I am more of a bullish individual so for me, every dip is a buying opportunity!
Nifty*spot level study
14800 to 14900 levels are where bulls should enter.
Why wait is because the RSI is in the overbought range on weekly charts.
The gap between Moving averages / trendline has been covered quite a bit yesterday as MAs moved up. The base level shown on the daily charts today is at around 14460. This level is a support if there is a major correction which we have no reason to expect at this time.
Going back to history, Nifty rose from lows of 13131 on 21st Dec up to 13596 till Jan 21. This is a 1600+ point rise before correction happened and Nifty fell to 13596 from 21 Jan to 29 Jan which is a good 1100 point correction.
*As on 9th Feb, we are trading at 15159 which is a rise of 1563 points and today we might reach 1600 point level.
Keeping the history in mind, bulls should step back and watch as of now. Keep liquid capital handy and follow the buy on dips strategy.
NIFTY - buy on dipsRSI on the weekly chart is above 70 which is an overbought range. As seen in the past, Nifty has to correct itself to get RSI back in the trading range.
Trend is bullish so I don't recommend any short positions but the strategy should be to buy on dips.
First support is at 14900 levels so one can buy at 14950 levels with strict stop loss.
Another very strong support is at 14800 levels.
As I have mentioned above, the trend is bullish so I wouldn't expect a drastic correction anytime soon.
Weekly charts have made a very strong bullish engulfing candle which indicates that there is a lot of underlying strength unless something goes drastically wrong.
NIFTY COMMENTARY by Kiran WEEK 24 , STAY CALM, ENJOY THE RIDE..Hi friends,
This is one of those great times, which give opportunities for both bulls and bears... especially for traders.
So, sit back and have 🍻🍺🍺 and enjoy the ride...
I will with go for the confirmation of trend so the option is 2 BUY HOLD.
Your humble trader
KIRAN
If you liked my analysis, just give me thumbs up or comment, it will boost me to analyze more stocks.
follow my profile for new trading ideas (kiransunku2016)
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The five conditions I watch regularly are.
1. BUYing opportunity
2. BUY hold
3.Wait for trend confirmation
4. SELLing opportunity
5. SELL hold.
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Nifty might be heading towards a small setback.Nifty50
Why am I waiting or why am I doubtful?
1. The candle in daily chart made today closely resembles bearish doji.
2. The distance between candles and trendline seems a bit too much.
3. Even the distance between the candles and 20 day EMA is of around 500 and the 20 day EMA is at 14375 levels but the prices closed at 14925 which, according to me is not healthy.
4. The uptrend in 5 days, from 1st Feb is almost 1200 points which makes me expect a correction will about 14400 levels.
Now coming to weekly charting which has some very strong bullish signals.
1. The candle this week is a very strong bullish engulfing pattern but the RSI is crossing 70 on the upper side which also indicates an overbought range.
2. Again there is a support being seen at 14400 levels in the weekly charts as well and the next support levels are lower at 14000 and 13700 respectively.
*Such strong bullish pattern assures that the trend is uptrend but the daily charts do indicate that there is an inflation. So, my entire study tells us to wait for a while and figure right bottom before we go long.
Is Nifty entering the Bullish Trend now?28th Jan 21:
The first support, 50 day EMA is around 13670 - 13700 range.
Nifty 50 has broken uptrend line yesterday on daily charts .
Nifty 50 has created a new downtrend yesterday in intraday charts.
29th Jan 21:
Can buy NIFTY1! with a stop-loss of 13850 for intraday as intraday charts are showing a positive momentum movement.
*Stop-Loss triggered but the prediction was 100% correct as we can see what Nifty50 did on 1st Feb 21.
If you see the daily charts of Nifty50, you will see a pattern which we call the 'Bullish Flag Pattern' which was broken yesterday (check the trendline on candlesticks).
Global markets are supporting so I will let go a small double top that Nifty50 has made on the daily charts. Double top is basically a bearish pattern but I don't see any reason for Nifty50 to start a downtrend again.
The main trendline (blue) is uptrend but a correction was long due which we saw in the past week but the daily candlestick made yesterday shows a reversal.
Now turning our attention to RSI, we have crossed the 50 mark with strength yesterday.
We are expecting a gap-up opening today as well which means that even RSI will positively break the temporary trendline.
Nifty50 also overcame a very strong resistance at 14222 levels which means that this is a new support.
Next resistance is at 14480 levels which is very prominent in the hourly as well as on the daily charts.
That's my entire study of Nifty50 today.
NiftyCan buy NIFTY1! with a stop-loss of 13850 for intraday as intraday charts are showing a positive momentum movement.
Bearish pattern on NIFTYNIFTY SPOT Bearish and scary
Scary because it is confusing. Read the following:
Candles are in a downtrend trading very close to the bottom of Bollinger Bands
but
It also looks like a bullish flag pattern
So now that I've successfully confused you, tell me bring in your notice that RSI is diving which will add weight to chances of a bearish move.
Let me confuse you again.
15m charts are side-trended with candles trading at the top of Bollinger Bands
Today will be a strict NoTa (No Trade) for me.
