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Nifty Expiry prediction for today 15 Feb 24I have been busy for the last two days. If you have been following my analysis, we marked a resistance and support line, which got a breakout yesterday, and after that, it gave a very nice bullish momentum. Now, if we look at the chart: The market is trading at the resistance zone right now after yesterday's good bullish momentum. Price has broken 200 EMA. Also, an emacrossover has happened, which shows the market is not in a bullish phase. if we look at the OI data: PcR = 1.20, which shows the market is very bullish, as its expiration of 22,000 shows severe resistance. All the levels below, including 21800, have good pe writing that shows bullish sentiment of the market. FII and DII show bearish on Options, which might lead to some sideways days because, in the future, FII is bullish. I expect the market to consolidate a little bit here in the orange marked region. Also, its expiry tends to end sideways. If it breaks the upside, it will not be a very healthy breakout right now. Reasons: Price > EMAs, which shows the market is strong. EMA bullish crossover shows good market strength. RSI > 60 shows good strength in the bulls. OI data Pcr = 1.20 shows the bullish sign. Price> VWAP, which shows the market is having strength. The market is trading at a resistance zone. As it has been tested multiple times, there is a probability it might break. Because of expiry, I am not expecting much of the moment today. Verdict: Sideways in the orange zone. If breaks to the upside can go bullish (low chances) Plan of action: Case 1: Range selling in the orange zone. Case 2: go bullish if it breaks 21900 to the upside.
NSE:NIFTY
by finnova_
Nifty50 Support And Resistance 13-Feb-24Nifty50 Support And Resistance 13-Feb-24 Please find below simple resistance and support: Resistance: 21717 If crossed up then will see upward move as follows: T1: 21744 T2: 21808 Support: 21582 If crossed down then will see downward move as follows: T1: 21487 T2: 21423 This is only for education purpose. Do your own research before investing or trading. I AM NOT SEBI REGISTERED ANALYST, SO BEFORE TAKING ANY DECISION CONSULT ANY PROFESSIONAL. We Strictly Recommend You Not To Make Any Decisions, Financial, Investments, Trading, Or Otherwise. Please Understand That Using This Information Would Be Totally At Your Own Risk. **************************************************************************** 𝐃𝐈𝐒𝐂𝐋𝐀𝐈𝐌𝐄𝐑: We/I are not 𝐒𝐄𝐁𝐈 ( Securities and Exchange Board of India ) Registered. The Information Provided Is For Educational & Instructive Purposes Only. Our Intention Is Not To Provide Any Financial Advice, Investment Advice, Training Advice, Or Any Other Advice. This Is General Information And Is Not Explicit To You Or Anyone Else. Without The Consultation Of Any Professional, We Strictly Recommend You Not To Make Any Decisions, Financial, Investments, Trading, Or Otherwise. Please Understand That Using This Information Would Be Totally At Your Own Risk. Do Not Take Any Action Unless You Are Set Up To Continue An 'All Out Misfortune " or "Total Loss". Your Misfortune Could Incorporate Cash You Contributed Just As Commissions And Exchange Charges
NSE:NIFTY
by solitaryverma
Nifty50 Support And Resistance 12-Feb-24Please find below simple resistance and support: Resistance: 21818 If crossed up then will see upward move as follows: T1: 21849 T2: 21915 Support: 21685 If crossed down then will see downward move as follows: T1: 21586 T2: 21520 This is only for education purpose. Do your own research before investing or trading. I AM NOT SEBI REGISTERED ANALYST, SO BEFORE TAKING ANY DECISION CONSULT ANY PROFESSIONAL. We Strictly Recommend You Not To Make Any Decisions, Financial, Investments, Trading, Or Otherwise. Please Understand That Using This Information Would Be Totally At Your Own Risk. **************************************************************************** 𝐃𝐈𝐒𝐂𝐋𝐀𝐈𝐌𝐄𝐑: We/I are not 𝐒𝐄𝐁𝐈 ( Securities and Exchange Board of India ) Registered. The Information Provided Is For Educational & Instructive Purposes Only. Our Intention Is Not To Provide Any Financial Advice, Investment Advice, Training Advice, Or Any Other Advice. This Is General Information And Is Not Explicit To You Or Anyone Else. Without The Consultation Of Any Professional, We Strictly Recommend You Not To Make Any Decisions, Financial, Investments, Trading, Or Otherwise. Please Understand That Using This Information Would Be Totally At Your Own Risk. Do Not Take Any Action Unless You Are Set Up To Continue An 'All Out Misfortune " or "Total Loss". Your Misfortune Could Incorporate Cash You Contributed Just As Commissions And Exchange Charges
NSE:NIFTY
by solitaryverma
Nifty Prediction for tomorrow 9 Feb 24As we have discussed, Nifty has had a bearish structure for the past 2-3 sessions. Nifty was moving in a symmetrical triangle pattern, which is a neutral pattern. Today, it has broken down to the downside, the same as we have been discussing. Now, if we look at the chart: The market has successfully broken to the downside and has retraced 200 EMA, and a sharp fall came after that. The Market had good pullback from level 21670 provided price action support in the last 30 min with a very good volume surge. The upper side of 200 EMA will provide a nice resistance level. if we look at OI data: PCR = 0.69 shows a market bearish structure. MaxPain = 21700 has a very nice PE Writing, which will be acting as a good support zone; also confirmed by the Price Action level. Lower side 21500 also has nice PE writing, which indicates the next strong level of support. If bears are able to break 21700 to the downside, I am expecting the market to fall till 21500. Reasons: Price < EMAs. which indicates a bearish market structure. (Bearish) Breakdown of the symmetrical triangle pattern to the downside confirms the market's bearish structure. (Bearish) 200 EMA is working as a good resistance point. Also, rejected price with incremental volume. (Bearish) OI data PcR = 0.69 is mild Bearish. RSI ~ 40 shows weak bull power. (Bearish) EMA(13, 200), bearish crossover. (Bearish) Verdict: Bearish Plan of action: Sell 21700 CE if 21700 is broken to the downside. (hedge it with 20 rs CE)
NSE:NIFTYShort
by finnova_
NIFTY prediction for tomorrow 6th FEB 24As we discussed yesterday, NIFTY made a bearish movement after 2 pm with a nice volume. If we look at the chart data: Price has broken the pattern to the downside, now trading at 200 EMA. RSI has already gone below 40. Price is trading below EMA(13,50). Today, the selling volume was quite high. If we look at the OI data: PCR = 0.72, which shows a neutral structure because the price is at 200 EMA. 21700 is having nice PE writing, which is going to provide a nice support zone. On the upside, 21900 has significantly high CE writing, which will provide strong resistance. I am expecting the market to fall in upcoming sessions: Reasons: The market has already given a breakout to the downside. (Bearish) price < EMAs shows a bearish market structure. Currently trading at 200 EMA if breaks to downside path is clear till 21500. (Bearish) RSI < 40, which shows bulls are weak right now. (Bearish) price < VWAP shows a bearish sentiment in the market. (Bearish) OI data shows PCR = 0.72, which shows the market has a neutral structure. A little push to the downside can ignite a strong bearish move. (Bearish) Verdict: Bearish Plan of action: Sell 21800 CE (hedge it with 15rs CE)
NSE:NIFTYShort
by finnova_
6
Nifty50 Support And Resistance 6-Feb-24Please find below simple resistance and support: Resistance: 21818 If crossed up then will see upward move as follows: Target 1 : 21987 Target 2 : 22054 Support: 21725 If crossed down then will see downward move as follows: T1: 21719 T2: 21652 This is only for education purpose. Do your own research before investing or trading. I AM NOT SEBI REGISTERED ANALYST, SO BEFORE TAKING ANY DECISION CONSULT ANY PROFESSIONAL. We Strictly Recommend You Not To Make Any Decisions, Financial, Investments, Trading, Or Otherwise. Please Understand That Using This Information Would Be Totally At Your Own Risk. **************************************************************************** 𝐃𝐈𝐒𝐂𝐋𝐀𝐈𝐌𝐄𝐑: We/I are not 𝐒𝐄𝐁𝐈 ( Securities and Exchange Board of India ) Registered. The Information Provided Is For Educational & Instructive Purposes Only. Our Intention Is Not To Provide Any Financial Advice, Investment Advice, Training Advice, Or Any Other Advice. This Is General Information And Is Not Explicit To You Or Anyone Else. Without The Consultation Of Any Professional, We Strictly Recommend You Not To Make Any Decisions, Financial, Investments, Trading, Or Otherwise. Please Understand That Using This Information Would Be Totally At Your Own Risk. Do Not Take Any Action Unless You Are Set Up To Continue An 'All Out Misfortune " or "Total Loss". Your Misfortune Could Incorporate Cash You Contributed Just As Commissions And Exchange Charges
NSE:NIFTY
by solitaryverma
NIFTY prediction for tomorrow 05 FEB 24As we discussed in our analysis & on YouTube , it reached the target and then fell. You can also find the analysis on youtube channel link in Bio. Now if we look at the chart: the market is in a rectangular uptrend pattern and is now at the lower support line. Looking at the selling pressure volume in the last session, it was a strong fall from ATH. Now, if it breaks down, it will be going at 200 EMA. Looking at the OI data: PCR = 0.85, which indicates bullish. also next week PCR = 1.0 shows bullishness. the market is leaning towards bulls unless it breaks to the downside of the channel. Upside 22000 is a really strong resistance level. On the downside, the next good support level is at 21500. FII & DII indicate a neutral signal. Now I am expecting market to be either sideways(inside channel) OR bearish (if breaks to downside.) Reasons: Price ~ EMA(13,50) shows mild bullish. RSI ~ 40-60 shows a sideways Market. market is forming HH & HL. Unless the market forms a lower low, the bearish trend is not confirmed. (Neutral -> because of sharp fall from ATH) OI data PCR = 0.85 shows mild bullishness. 21800 seems decent support, but on the upper side, 22,000 is strong resistance. verdict: Sideways in channel AND bearish if breaks to the downside. Plan of action: Go bearish if it breaks to the downside; Target 200 EMA.
NSE:NIFTY
by finnova_
3
02 Feb ’24 — Nifty50 Breaks out and then Breaks DownNifty Analysis - Stance Neutral ➡️ Recap from yesterday: “Bulls and Bears are reevaluating their army strength and will soon fight it out — we will get a trending move as soon as the balance is tipped. For tomorrow — we wish to start the day with a neutral stance and then re-evaluate based on Nifty’s plans. If we pick a direction, we will definitely update the TV minds section” 4mts chart Nifty does 2 swings today, the first one to cut through the resistance of 21913 and convincingly reach the ATH levels. And the 2nd swing to breach the same support only to close back in the neutral territory. The moment we broke out from the resistance level - we changed our stance from neutral to bullish. And then as the reversal came in, our stop loss was hit and we had to backtrack our stance to neutral again. The morning part - was totally expected, we were in a 40-day range and then a break was due. But the 2nd half of the day - didn't see that coming. Surprisingly we closed the day with a gain of 156 points ~ 0.72% while BankNifty fell 217 points ~ -0.47%. We still believe, BankNifty is the torch bearer and has to align itself in the same direction as Nifty50 for a strong trend momentum. 63mts chart There are at least half a dozen candlestick patterns that could be drawn in this chart. We see a strong double top right at the ATHs and today’s top right at the lower channel line which would have acted as a resistance. The buildup from 24th Jan to today is a Double bottom (W) pattern and a small bullish trendline. All of which leads to confusion on what gets the highest priority. We would like to continue with the neutral stance for Monday with a slight advantage to the bullish side.
NSE:NIFTY
by viswaram
2
Just another perfect Nifty Fib Retracement Intraday SessionNifty open Gap down Negative sentiments reversed within 1st 10 minutes I believe Majority was short in morning considering 30th January 2024 Bearish EOD NiftyReport. That's it! Market makers always looking for liquidity and they found it in the morning itself. Rally started from day low to retrace 0.786 Fib level since previous day high. Chart is enough to understand the how fib retracement works and how Nifty Levels being identified with Fibonacci Retracement. Here is the news flow to justified Nifty & global markets downturn. 1:53 PM: Saudi Arabia's decision on capacity was at least six months in the making based on uncertainty around need for additional capacity - rtrs 1:50 PM: Iran's revolutionary guards chief salami says no US threats will be left unanswered - Tasnim
NSE:NIFTYShort
by SEBIRegistered
#Nifty directions and levels for January 31st#Nifty Good morning, friends. As of January 31st, the global market sentiment is moderately bullish, supported by the Dow Jones. However, our local market sentiment shows a mixed trend. It might open with a neutral to slightly gap-up start based on Giftnifty, which shows +2. According to Giftnifty, Nifty may open with a neutral start. If the market takes a pullback, it may reach the crucial Fibonacci level of 38% (21620). Structurally, this level is crucial as it indicates a ranging market. If the market breaks this level, only then can we expect a pullback of 61 to 78%. On the other hand, if it doesn't break this level, it may undergo further correction. Alternatively, if the market experiences correction initially, the 21465 level will act as a support. After that correction, if it finds support at this level, then we can expect a minimum of 23 to 38% pullback. However, if it consolidates or breaks this level immediately, then we can expect correction continuation.
NSE:NIFTY
by Manickamtraders
NIFTY prediction for tomorrow 30 JAN 24As we discussed Nifty yesterday, "Sideways in range bullish after a breakout." nifty gave a breakout in the morning and gave a bull momentum. Chart data: The Market has been range-bound in 21500-21750 for quite some time. It has struck the upper range six times now, which makes it easier to break this time. OI data: OI data PCR = 1.10 indicates the Market is already in bulls' control. 21800 is a nice resistance zone. Once it's clear, it will also give a breakout to charts, and people will start Writing PE at this level. Also, the budget announcement is on the 01 FEB 24, which needs to sound good because the election is nearby. I am expecting the Market to break to the upside and go bullish in upcoming sessions. Reasons: Price > EMAs, which shows the Market is in control of bulls. RSI > 60, which indicates bulls have enough strength to take it higher. Price > VWAP, which indicates the Market is in a balanced phase, making it easier to go higher. OI data PCR = 1.10 shows market is bullish. The Market has been in range for quite some time. It has already touched this zone 6 times; it shows a higher chance of breaking out. Verdict: Bullish Plan of action: SELL 21750 PE (hedge it with Buy 30rs PE)
NSE:NIFTYLong
by finnova_
5
NIFTY Prediction for tomorrow 29 JAN 24As we have discussed, NIFTY has been in a bearish structure for the past week. NIFTY ended sideways in the last session, as discussed in our analysis. Now, if we look at the data on the chart, 21222 is hard SUPPORT, and 21450 is RESISTANCE. Along with it, it's making a falling wedge Pattern, which is a bullish pattern. If it breaks to the upside, the only resistance will be 200 EMA. Once it's crossed, it will be going a bullish 📈 trend move. If we look at OI data 📊 PCR: 0.80 is neutral. 21300 is working as MAXPain. 21250 and 21300 have good PE writing. Which also includes a good chance to go bullish. 1 FEB 2024 is also budget announcement day. That's why people are waiting for the market to make and break. People are waiting for the budget to be announced on 1 FEB (Budget Day). I am expecting the market to be sideways. Reasons: Price < EMAs shows bearishness. RSI ~ 40-60, which shows a sideways market structure. OI data PCR shows 0.80, which is sideways, with 21300 as MAXPain and 21250 and 21300 as good support. 21200 is acting as a good support zone. 50 EMA acting as resistance. If it gets cleared, 200 EMAs will be acting as resistance. Verdict: Sideways Plan of action: SELL 21450 CE and 21200 PE (protect it with hedging)
NSE:NIFTY
by finnova_
2
NIFTY prediction for tomorrow 24/01/24According to our past discussion, NIFTY had a bearish nature for a couple of days. It had a nice fall today. If we look at the chart, it has broken the HNS Neck to the downside with huge volume pressure. The market might continue to be bearish in the coming days. If we look at chart 21025, the next support point can be set as target 1 and 20791 as target 2 according to the HNS pattern breakout to the downside and also the price action level. While looking at the OI data, PCR = 0.63; also, today's OI change shows huge bearishness with Call change = 3.28Cr Put change = -21.82L, which means it was a huge PE windup with additional CE writing. The market is bearish. Reasons: Nifty is making HNS at the top of the trend, which means upcoming sessions are going to be bearish with target levels marked on the chart. (Bearish) Price < EMAs shows the market's bearish nature. (Bearish) The market has given the Death crossover, which is a strong signal of a Bearish market. (Bearish) OI data PCR = 0.63 shows bearish signal. (Bearish) RSI < 40, which shows weakness in bulls strength. (Bearish) VWAP is at 21600, which indicates prices are not volume balanced. (sideways) Verdict: Bearish Plan of action: Look for a 15-minute candle; make a position based on the PA marked on the chart.
NSE:NIFTYShort
by finnova_
6
NIFTY Special session analysis 20 Jan 24NSE is running special trading sessions to test the disaster management platform. There is no compulsion to participate in the trading for today. But if you wish to, here is the analysis that you can follow. Nifty Broke went to the downside but quickly recovered and came back inside the descending triangle pattern (Trend continuation pattern). Yesterday, It felt resistance at 200 EMA and résistance trendZone. If nifty breaks the pattern to the upside, it may go to level 21819. But as it is testing day, only a few traders might participate, which might lead to sideways momentum. Reasons: The market is trading at 200 EMA resistance. It's a make-and-break point. Let the pattern break and enter after retesting. OI data PCR = 0.84(weekly) shows amilg bullish signal. That means if it breaks to the upside, it might give nice targets till 21819, marked on the chart. RSI 40 - 60, which is a sign of a sideways market. If it breaks 60 to the upside, it means the market is going to be bullish. Otherwise, don't enter with the option of buying inside the range 40-60. you can go with selling. Price > EMA(13,50) but 200 EMA still providing resistance. go bullish once it's broken and retested. VWAP is at 21700, which will also be acting as resistance. (sideways or bullish.) Verdict: Sideways if it's inside the pattern OR if it breaks to the upside, go bullish after retest. Plan of action: Go for option selling, as many factors are in favor of a sideways market, too. Wait for 15 minutes for the candle to enter after retracement.
NSE:NIFTYLong
by finnova_
NIFTY prediction for today LIVE 19 JAN 24As we discussed NIFTY yesterday, it opened a gap down, and then buyers showed a nice momentum to the upside but sadly could not hold it. Support became the resistance and resulted in a sideways. If we look at charts now, 21380 provided massive support in that region. so now the market has created a range in 21380-21500. A break in the range will decide the next moment in the market. If we look at the OI data, PCR = 0.80, which is neutral. And monthly PCR = 1.1, which means bulls are still holding their positions, and yesterday, it was more PE writing than CE writing. That shows 21380 activates the bull's buying pressure. The break of the range will decide the momentum in nifty today. Reasons: Price < EMAs; also price ~ EMA(13) that means makret is bearish also in bearish ZONE. RSI ~ 40 means bulls are weak right now. (sideways or bearish) OI data PCR ~ 0.80, which is neutral for the market. Range break will decide the market momentum. 21450 will be acting as MAXPAIN for bears. Once it's broken to the downside, a good target can be achieved. Price < VWAP shows the bearish structure of the market. Verdict: Sideways or Bearish Sideways in the range 21380-21500. if it breaks to the downside, it will go to a bearish target of 21238. Plan of action: For today, the market is going for CE selling, as a sideways possibility is also there. You will be able to hold your positions firmly.
NSE:NIFTY
by finnova_
5
#Nifty directions and levels for JAN 18th"Good morning, friends! Here are the directions for January 18th: The global market sentiment is moderately bearish, supported by the Dow Jones, while our local market sentiment shows a bearish trend. It might open with a gap-down start, as indicated by Giftnifty showing a -160. HDFC Bank's results' impact is still ongoing. Structurally, we can expect a pullback around the major support level. If it rejects, then we can anticipate a minimum of 38% to 61% pullback. On the other hand, if it breaks or consolidates around the major support level, the correction is likely to continue."
NSE:NIFTY
by Manickamtraders
NIFTY prediction for tomorrow 18 Jan 24As we discussed NIFTY yesterday, "Sideways in the channel if they break to the downside, will turn BEARISH." It opened the downside and gave a very nice bearish moment. For tomorrow, if we look at the chart and OI data, it's a very bearish situation. if we look into OI data PCR = 0.55(weekly) and 0.80(for next week included.) that means monthly is still neutral. If we look at the chart, 21500 is a very good support ZONE, which has been providing support multiple times. This time, it might also take support from there. But on the above side, EMA(200) will be providing resistance at (21650). I am expecting it to take a retracement, and then it will fall again. There are two main possibilities right now. that have been marked on the chart. On the other hand, it has broken the pattern to the downside. If, after retracement, there is volume pressure to sell, it will fall to the next levels of 21250 and 21000. but for now, the main hurdle is 21500. I am expecting the market to take minor support at 21500, and if after that it starts falling and breaks 21500 to the downside, a good fall in the market can be expected. Reasons: Price < EMAs, which indicates the bearishness in the market. RSI < 40, oversold zone shows bulls are weak at this point. So some retracement and then again fall is expected. Price < VWAP that shows bearishness in the market. RSI is showing bullish divergence (marked as Blue), which means 21500 is highly likely to provide minor support. Once the RSI is adjusted, it might fall again. but for now, the RSI needs to be adjusted. OI data shows PCR = 0.55 which is huge bearish. Verdict: Bearish (21500 minor support); if breaks to the downside after retrace. Plan of action: Wait for 15 min candle. Make position how it behaves at 21500 PA.
NSE:NIFTYShort
by finnova_
17
NIFTY Prediction for tomorrow 17 JAN 24As we discussed NIFTY yesterday, it will be going 22100, and then it will settle there. The market did reach the level, and then, because of resistance there, it reversed back. Again, took support is at a day's low. If we see selling candles had a higher volume than buying candles. That shows the market will be turning bearish soon. We have marked a zone of today's highs and lows. If the market breaks the zone to the downside, then selling can be seen in the market. The best points to make an entry will be either entering at high (22100 rejection) or entering at the breakdown (today's low). According to the OI data, PCR 0.8 dropped from 1.51(yesterday). Shows sellers are becoming aggressive at higher points(~22100). Also, in today's 2nd half, there is no new PE writing. Only CE selling happens at higher levels (22000 and 22050). Also, there was a huge PE unwinding at higher levels (22100). Also, it has faced rejection from the resistance trendline. I am expecting a bearish market in tomorrow's session. Reasons: Price got a rejection from the resistance trendline. It should continue its momentum to go downwards as marked on the chart. (sideways or Bearish) Price > EMA(200) and VWAP require some consolidation or correction at this point (also discussed yesterday). (sideways or Bearish) OI data shows a huge decrease in PCR from 1.51 -> 0.80, which shows huge bearishness in the market—an indication of a reversal. RSI has also dropped to the 40-60 range, which is sideways, but if it falls below 40, it will turn into a bearish market. Verdict: Sideways in the channel, if they break to the downside, will turn BEARISH Plan of Action: Keep neutral position IRON CONDOR inside range AND Go bearish with sell 22000 CE Sell (with Hedge protection)
NSE:NIFTYShort
by finnova_
2
NIFTY Prediction for tomorrow 16th JAN 24As we discussed yesterday, "it will reach 22100, and then it will face resistance there". If we look at the chart data right now, It has touched 22100. also, right now, it's trading at the resistance trendline, which will provide resistance from here. According to OI data, PCR = 1.51, which is super bullish. On the upside, there is no resistance. All levels have very low CE Writing. OI data shows it's very bullish right now. 22000 has HUGE PE writing, which will be providing very nice support. The market is trading at the upper region of the channel. There are high chances of settling the market here. I expect the market to go sideways. There is not much target left according to the price action. Reasons: Price> EMAs show bullishness in the market. But EMA(13) >> EMA(200), which indicates the market is stretched. RSI = 80, which shows the market is overbought. Also, the RSI is showing a bearish divergence. That might lead to some correction in the market. Price (22100) > > VWAP (21700) shows Price is not balanced with volume data. It might lead to correction for some points. The Market is continuously making HH and HL. Shows very good strength of the trend. But it requires some consolidation here. According to Extended Fib, retracement shows a 1.414 level as 22138, which is exactly at the resistance trendline. According to OI data, there is too much PE writing today. There is very minimal CE writing at the upper level, 22100 is showing MAX PAIN. Also FII and PRO shows bullishness in index option data. Verdict: Bullish might have some consolation at the resistance trendline. Plan of Action: Wait 15 min candle; make position according to levels marked at chart.
NSE:NIFTY
by finnova_
2
NIFTY prediction for tomorrow 15 JAN 24As we discussed, NIFTY would be "Sideways unless it breaks the range to either side." on Friday, it broke to the upside and gave a really nice bullish rally. People who Bought CE or sold PE might have made good money. For tomorrow all important levels have been marked on the chart. If we look right now, it's trading ALL-TIME-HIGH, which might lead to a 22,000 target. If we see the charts, we are on the way to touching the resistance trendline. Once it reaches there, it will face resistance. GIFTNIFTY is already showing 21975 closing in the last session. The upper range to go nifty is 22100. So, I expect it to go up and then from 22100 settle down. If we see OI data PCR = 1.40 which shows highly bullish indications for upcoming sessions. 22000 is having significantly good resistance level lets see how the price action behave there. MAX Pain for now is 22000. Tomorrow it might open gap-up and then reach 22100 and then correct for some points that might lead to a sideways market too. Reasons: Price > EMA(13,50,200) which shows price have strength. The bulls are in control. (Bullish) EMA(13,50) crossover shows bullishness in the Market. RSI is above 60, which means it's in the Bullish zone. RSI is showing good strength in trend. OI data PCR = 1.40, which is highly bullish. It's a very good sign of bullishness. VWAP > > Price shows that the price is not volume balanced. It's obviously bullish. But if it goes further, you have to correct some points to get balanced. The Market is continuously making HH and HL. Shows very good strength of the trend. Verdict: Bullish Plan of action: Wait for 15 min Candle; and then make position based on price action levels marked on chart.
NSE:NIFTYLong
by finnova_
2
NIFTY prediction for tomorrow 12 JAN 24As we discussed, Nifty has been moving in a sideways range-bound market in the range of 21500 and 21750. also, today, it took very nice support from 200 EMA and activated buyers. But once it's moving in the range, it could not be better for option buyers. Right now, the only you can do is option selling with IRON CONDOR. If we look at OI, we can see PCR = 0.7, which is leaned to the bear side. The market has shown a bearish structure this whole week. There are higher chances to break it to the downside. If it breaks to the downside, I am expecting it to fall nicely; otherwise, I will be playing range-bound for Selling options. Also, the market has formed an insider candle on the day's time frame. Unless this insider candle is cleared, I am expecting it to be range-bound between 21500 and 21750. Reasons: Price > EMAs shows the market still has a good bull control. (Bearish) RSI ~ 50 increasing means bulls are trying to get the market to go up. But still RSI = 40-60 means still sideways. Once it breaks to RSI(60) upside, We can expect a nice bull move. (Bearish) If we see OI 21650 and 21700 have a huge resistance wall, it means huge CE writing at those levels. (Bearish) 21600 is MAX PAIN. If it breaks to the downside, a good fall can be seen in nifty till the level of 21120. (Bearish) Verdict: Sideways unless breaks the range to either side. Plan of action : Right now, you can go for IRON CONDOR. for range 21500-21750. OR Sell 21750 CE and sell 21500 PE (Hedge with 15rs PE and CE)
NSE:NIFTY
by finnova_