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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 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 Levels | 6-AUG-2024#Optionbuyers #Niftyoptionscalping 1️⃣ Zones you always Like:- 👉Green zone- Institutional support 👉Red zone - Institutional resistance 👉Gap between institutional zones is always of 100 points 👉Zone is created with the help of pivot points and Fibonacci 👉Advance version of price action 👉Trades based on Nifty future chart 2️⃣ Trade Execution:- 👉Trade based on order flow data 👉Timeframe - 1 min and 5 min 👉Risk Reward Ratio always 1:2 👉Strike price always ATM & slightly ITM 👉Maintain Position sizing according to your own method 3️⃣ House Rules in trading:- 👉Sharp at 9:15 AM 👉Priority to risk management 👉Fast execution (morning breakfast) 👉Stop-loss 10 points (strictly) #ThankU For Checking Out Our IDEA , We Hope U Liked IT 📌 🙏FOLLOW for more ! 👍LIKE if useful ! ✍️COMMENT Below your view !
NSE:NIFTY1!
by ReviveTraders
Nifty 50 Analysis & Prediction for Monday 5 Aug 2024Disclaimer: Any of my posts should not be considered as a Buy/ Sell/Hold recommendation. This analysis is for educational and learning purpose only. I always recommend using Stop Loss and following risk management rules. Nifty is creating a retracement in a buying trend so Condition 1- if Market opens and test it's previous resistance and holds that level then I am expecting upmove Condition 2- If Market opens and retrace little more then also Price can bounce after creating support. Market can create other conditions also So wait and observe properly.
NSE:NIFTYLong
by jain_abhishek