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Nifty 50 Trading view for 05 May 2023Nifty50 closed at 18089 as there was selling pressure observed in metal, banking, and technology stocks. SGX nifty signals a neutral to gap down opening. Markets closed lower prior to the US Fed policy meeting. Strong buys from FIIs saved the day along with strong economic data. FIIs' cash purchase was 1338 CR and DIIs bought 584 CR (Net positive of 754) As expected, the US Fed declared a 0.25% hike in interest rates. They also pointed out that there could be a pause in future hikes. This is positive news and hopefully, a 0.25% increment would have already been factored in our earlier trades. But quite interestingly US stocks ended in the red, shedding their gains. This could be due to banking crisis worries and the debt ceiling (US govt payment obligations as of June 1st). Today the market is expected to be in the range of 18200 on the upper side and 17975 on the lower side. The overall sentiment is neutral to bullish, as Nifty has managed to stay afloat above 18000. As mentioned earlier, it's important for the index to retain its position above 18000 levels and cross 18233 levels to see further upside. Suggested to trade in limited quantities with strict stop loss or hedging strategy. Support and Resistance: Resistance: 1.64 CR Call OI buildup @ 18200 level. A huge call writing was observed at the 18100 and 18200 levels. Support: 1.22 CR Put OI buildup @ 18000 level (STRONG SUPPORT @ 18000 LEVEL) 17800 still seems to be a crucial support level (make or break level) Do keep a close watch on these levels and nearby strike prices to determine the next move in the market. It is important to keep a close watch on VIX as it dropped to 11.84 (0.48%). This index confirms risk sentiment in the market. Chart Pattern: A small red hammer was formed after six consecutive green candles. There could be possible consolidation or minor weakness observed in the next 1 to 2 sessions. Apart from 18000, 17900 also seems to be a crucial support for the index. Possible Trading Levels: UPSIDE TRADE: Buy only above 18120 >>>>> Buy ITM 18100 CE. (TGT 18180 | SL 18075) DOWNSIDE TRADE: Sell only below 18050 >>>>> Buy ITM 18100 PE (TGT 17980 | SL 18100) Things to account for 05 May 2023: 1. The Fed raised the interest rate by 25bps. A pause is expected in further rate increases as highlighted by the Fed. 2. DOW JONES Down -270.29, OR -0.80 PERCENT, AT 33414 despite opening positive 33,726.64. This can have a bearing on today's trade. 3. Corporate Results: Housing Development Finance Corporation, Hero MotoCorp, Adani Enterprises, Dabur India, Tata Power, TVS Motor, Sundram Fasteners, 360 ONE WAM, Aptus Value Housing Finance, Blue Star, Bombay Dyeing & Manufacturing Company, CEAT, FirstSource Solutions, IDFC, Jammu & Kashmir Bank, Mindspace Business Parks REIT, and United Breweries. Trading is risky, and it is advised to consult a financial advisor prior to trading. These are purely my opinion based on my trading experience and exercise caution while trading. Many of these strategies are subject to adjustments as per market movements as markets are dynamic and change due to several factors. If you require a financial advisor to assist you with investing or trading needs, please contact us using the comments section. HAPPY TRADING!!!
NSE:NIFTY
by SunilA75
1
Nifty 50 Trading view for 02 May 2023Nifty50 closed 18065 as FIIs cash purchase was 3304.3 CR and DIIs bought 264.3 CR (Net positive of 3568.6). SGX nifty signals a gap up. Today the market is expected to be in the range of 18100 on the upper side and 17800 on the lower side. Short-Term Levels: Resistance: 67.99 LAC Call OI buildup @ 18200 level Support: 99.1 Lacs Put OI buildup @ 18000 level (STRONG SUPPORT @ 17800 LEVEL - 88.45 LAC) 17800 still seems to be a crucial support level (make or break level) Do keep a close watch on these levels and nearby strike prices to determine the next move in the market. It is important to keep a close watch on VIX as it's low (10.95%). An increment in VIX will indicate uncertainty in the market, further causing the Index to dip. Any negative news can impact this. The overall sentiment is bullish, but it's important for the index to retain its position above 17800 levels and cross 18233 levels to see further upside. Suggested to trade in limited quantities with strict stop loss or hedging strategy. Chart Pattern: The index witnessed a breakout from the cup and handle pattern on the charts. A large green candle with a short wick at the bottom indicates confidence in the market and further upside. Also, the index is above 200 DMA, which signals a positive sign. The index must cross the 18233 level to see a further upside of 18500. Possible Trading Levels: UPSIDE TRADE: Buy only above 18080 >>>>> Buy ITM 18050 CE. (TGT 18130 | SL 18030) DOWNSIDE TRADE: Sell only below 17980 >>>>> Buy ITM 18050 PE (TGT 17930 | SL 18050) Things to account for 02 May 2023: 1. FED set to raise Interest rates to 16-year high and debate a pause - as per WSJ projection. Any further increase in FED rates which is scheduled to be declared on 3rd May can impact the index. The Fed raised the fed funds rate by 25bps to 4.75%-5% in March 2023, matching the February increase, and pushing borrowing costs to new highs since 2007, as inflation remains elevated. The decision came in line with expectations from most investors although some believed the central bank should pause the tightening cycle to shore up financial stability. There could be speculation in the market today and tomorrow about the FED Interest Rate Decision. 2. DOW JONES Down -56.11, OR -0.16 PERCENT, AT 34042 despite opening positive 34,139.81. This can have a bearing on today's trade as further upside will be based on global cues. 3. U.S ISM MANUFACTURING EMPLOYMENT (APR) ACTUAL: 50.2 VS 46.9 PREVIOUS; EST 47.9. This is positive news. 4. U.S MANUFACTURING PMI (APR) ACTUAL: 50.2 VS 50.4 PREVIOUS; EST 50.4. This is positive news. Trading is risky, and it is advised to consult a financial advisor prior to trading. These are purely my opinion based on my trading experience and exercise caution while trading. Many of these strategies are subject to adjustments as per market movements as markets are dynamic and change due to several factors. If you require a financial advisor to assist you with investing or trading needs, please contact us using the comments section. HAPPY TRADING!!!
NSE:NIFTYLong
by SunilA75
Nifty 50 Trading view for 26 April 2023Nifty50 touched 17807 only to lose steam towards the last 30 minutes trade and ended 17769 (closer to high of 24th APR). Banking stocks were quite active in trade yesterday, but the heavyweights of Nifty were not getting enough buying. FIIs sold 407 CR while DIIs bought 564 CR (Net positive of 157). Today the market is expected to be in the range 17850 on the upper side and 17650 on the lower side. Short-Term Levels: Highest OI buildup for both Call (1.06CR) and Puts (1.29CR) are @ 17700 levels Resistance: 0.79 CR Call OI buildup @ 17800 level Support: 1.13 CR Put OI buildup @ 17600 level (STRONG SUPPORT @ 17600 LEVEL) 17600 still seems to be a crucial level (make or break level) It's important to keep a close watch on these levels and nearby strike prices to determine the next move in the market. Note that this being the last week of the monthly expiry followed by many companies declaring Quarterly results today and coming days, we can expect volatility in the market. Keep a close tab on VIX and make trading decisions accordingly. As mentioned yesterday, overall sentiment still seems slightly bullish, but it's important for the index to retain its position above 17600 levels and cross 18200 levels to declare a bull run. Chart Pattern: Also, the green candle stick pattern with a Doji kind of formation and long wick at the top and bottom indicates indecisiveness in the market. But though the index is placed below the day's high but since it is above 200 DMA, signals a positive sign. The index must cross 18765 levels to see further upside. Do trade in limited quantities with strict stop loss or hedging options. Possible Trading Levels: UPSIDE TRADE: Buy only above 17800 >>>>> Buy ITM 17750 CE. (TGT 17850 | SL 17750) - Risky traders can TGT 17875 DOWNSIDE TRADE: Sell only below 17750 >>>>> Buy ITM 17800 PE (TGT 17700 | SL 17800) - Risky traders can TGT 17650. Things to account for 26 April 2023: 1. Quarterly corporate earnings report for several companies: Bajaj Finance, Can Fin Homes, HDFC Life, IIFL Finance, Indus Tower, KPIT Tech, L&T Tech, Maruti, Oracle Fin, Poonawalla Fin, SBI Life, Shoppers Stop, Supreme Petro, Syngene Intl, Tanla Platforms, UTI AMC, Voltas 2. DOW closes 344 POINTS, OR -1.02%, AT 33,530 Trading is risky, and it is advised to consult a financial advisor prior to trading. These are purely my opinion based on my trading experience and exercise caution while trading. Many of these strategies are subject to adjustments as per market movements as markets are dynamic and change due to several factors. If you require a financial advisor to assist you with investing or trading needs, please contact us using the comments section. HAPPY TRADING!!!
NSE:NIFTYLong
by SunilA75
FASP levels for Nifty 26/04/2023The FASP for Nifty is listed for 26-04-2023. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:NIFTYShort
by SathishChandrasekaran
Nifty 50 Trading view for 25 April 2023Nifty50 rose by 119 points yesterday based on good quarterly results of heavyweight banking stocks ICICI and HDFC. SBI and Reliance also contributed moderately to this rally. Today the market is expected to be in the range 17900 on the upper side and 17600 on the lower side. Short-Term Levels: Resistance: 0.80 CR Call OI buildup @ 17800 level Support: 1.29 CR Put OI buildup @ 17700 level (STRONG SUPPORT @ 17600 LEVEL) 17600 still seems to be a crucial level (make or break level) It's important to keep a close watch on these levels and nearby strike prices to determine the next move in the market. Note that this being the last week of the monthly expiry followed by many companies declaring Quarterly results today and coming days, we can expect volatility in the market. Keep a close tab on VIX and make trading decisions accordingly. Overall sentiment seems slightly bullish, but it's important for the index to retain its position above 17600 levels and cross 18200 levels to declare a bull run. Chart Pattern: Also, the green candle stick pattern with a small head and long wick at the bottom is placed above the day's high and 200 DMA which denotes a bullish trend. There is still a bearish engulfing pattern seen on weekly charts which will be ruled out once the market breaks the 17865 levels. Do trade in limited quantities with strict stop loss or hedging options. Possible Trading Levels: UPSIDE TRADE: Buy only above 17760 >>>>> Buy ITM 17750 CE. (TGT 17820 | SL 17720) - Risky traders can TGT 17850 DOWNSIDE TRADE: Sell only below 17700 >>>>> Buy ITM 17750 PE (TGT 17650 | SL 17750) - Risky traders can TGT 17620. Things to account for 25 April 2023: 1. Quarterly corporate earnings report for several companies: Bajaj Auto, HDFC Asset Management Company, Nestle India, Tata Consumer Products, Anant Raj, AU Small Finance Bank, Dalmia Bharat, Elecon Engineering, Lloyds Metals and Energy, Mahindra CIE Automotive, Mahindra Lifespace Developers, Meghmani Finechem, Mahindra Holidays & Resorts India, Nippon Life India Asset Management, Rallis India, Tata Steel Long Products and VST Industries 2. Indusind Bank declared net profit jump of 46% 3. Mankind IPO launch today Price Range1,026-1,080 OPEN 25-04-2023 CLOSE 27-04-2023 Issue Size 4,326.36 Cr 4. HDFC Bank: Monetary Authority of Singapore (MAS) has granted approval for the acquisition of shares in Griha Pte. by HDFC Bank due to the proposed amalgamation. As a result, HDFC Bank will acquire a 20 percent or more stake in Griha Pte. The proposed amalgamation is subject to receipt of final approvals from SEBI in respect of the change in control of certain subsidiaries of HDFC. Trading is risky, and it is advised to consult a financial advisor prior to trading. These are purely my opinion based on my trading experience and exercise caution while trading. Many of these strategies are subject to adjustments as per market movements as markets are dynamic and change due to several factors. If you require a financial advisor to assist you with investing or trading needs, please contact us using the comments section. HAPPY TRADING!!!
NSE:NIFTYLong
by SunilA75
Nifty 50 Trading view for 24 APR 2023Nifty 50 rose quickly close to 1000 points over the past few weeks without any retracement until Thursday and Friday which showed some profit booking and long unwinding. This was expected as the resistance was quickly breached without retracement. Monday trade and the week are expected to be range bound between 17800 on the upper side and 17500 on the lower side. If either of these levels is breached, it can offer buy/sell opportunities. Short-Term Levels: Resistance: 1.62 CR Call OI buildup @ 17700 level (STRONG RESISTANCE AT 17700 LEVEL). Support: 0.84 CR Put OI buildup @ 17600 level. 17600 seems to be a crucial level (make or break level) Longterm levels: Strong resistance at 18500 levels (1.25 CR Call OI Buildup). There is also strong support build-up at 17000 levels (0.94 CR Put OI buildup) It's important to keep a close watch on these levels and nearby strike prices to determine the next move in the market. Interestingly though VIX closed lower the index dropped, which calls us to watch VIX closely for further trades. Overall sentiment seems slightly bullish, but it's important for the index to retain its position above 17600 levels to regain strength in the index. Also, the candle stick pattern shows weakness from the buying side over the past week. Do trade in limited quantities with strict stop loss or hedging options. Wait for the aforementioned levels for pure positional trades. Possible Trading Levels: Important levels to keep in mind: 17800 on the upside and 17500 on the downside. Breach of any of these levels will further encourage positional trades. UPSIDE TRADE: Buy only above 17650 >>>>> Buy ITM 17600 CE. (TGT 17710 | SL 17600) - Risky traders can TGT 17750 DOWNSIDE TRADE: Sell only below 17600 >>>>> Buy ITM 17650 PE (TGT 17550 | SL 17650) - Risky traders can TGT 17520. Things to account for 24 April Thursday 2023 (Weekly Expiry): 1. Reliance results. This is expected to be positive news and can really impact trading on 24th APR. Yet to see how RNEL merger news might impact further during trading. 2. ICICI Bank Q4 Result was declared on the 22nd and standalone Profit jumped 30%. BSE closed 0.8% lower on Friday before the result announcement. This being positive news, stock can expect some buy on Monday. 3. Indusind Bank will declare results expected to be declared on the 24th. Trading is risky, and it is advised to consult a financial advisor prior to trading. These are purely my opinion based on my trading experience and exercise caution while trading. Many of these strategies are subject to adjustments as per market movements as markets are dynamic and change due to several factors. If you require a financial advisor to assist you with investing or trading needs, please contact us using the comments section. HAPPY TRADING!!!
NSE:NIFTY
by SunilA75
2
No trade zone between 17609 to 17670.In analyzing market trends, it is important to identify potential no-trade zones and formulate appropriate trading strategies that align with one's risk tolerance and overall objectives. The current price range between 17609 and 17670 has been characterized by strong buying near the lower end and selling near the upper end, indicating the presence of key support and resistance levels. As such, I have decided to exercise caution and wait for a favorable breakout accompanied by a retracement before initiating any buying position. In addition, I am considering buying if the price breaks out of the trendline resistance or falls below the no trading zone along with a retracement , as this may indicate a change in market dynamics and potential opportunities for profit. These strategies are designed to ensure that I am entering the market at optimal points and are consistent with best practices for risk management. the OI data suggests we have a strong put writing on 17600 & call writing on 17700 right now, I'll suggest you stay neutral in such market situation
NSE:NIFTY
by Doinel33