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Nifty Intraday Support & Resistance Levels for 15.07.2024On Friday, Nifty opened gap-up and made a new all-time high of 24,592.20 before closing at 24,502.15. The weekly trend (50 SMA) is overbought, and the daily trend (50 SMA) remains positive. Support Levels: Near support/demand zone (15m): 24,331 - 24,384 Far support/demand zone (5m): 24,201 - 24,235 Major support/demand zone (75m) for weekly trade: 24,056 - 24,150 Resistance Levels: Near small supply/resistance zone (15m): 24,560 - 24,580
NSE:NIFTY
by PriteshPalan
NIFTY Intraday Trade Setup For 12 Jul 2024NIFTY Intraday Trade Setup For 12 Jul 2024 Bullish-Above 24470 Invalid-Below 24420 T- 24595 Bearish-Below 24190 Invalid-Above 24240 T- 24030 NIFTY has closed on an absolute flat note today. It opened with a gap up of 70 points and 10 o'clock range broke downside below 24310 and made a low of 24190. It has formed an inside candle, possibly suggesting a consolidation before any big now. Also a triangular consolidation is in formation, breakout will give us possible hint of direction. However our key levels will be trade points- 24470 and 24190. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 24470 then we will long for the target of 24595. For selling we need a 15 Min candle close below 24190. T- 24030. 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
2
NIFTY prediction for today 11 July 24As we discussed, NIFTY took resistance at the provided dotted resistance trendline and gave a good fall. If we look at the chart now: The market gave good bearish momentum yesterday with heavy volatility. I also took support at the price action level of 24188 and came back. That shows bulls are active near 24000. Support levels: 24188, 200-EMA (15-min) Resistance levels: 24312, Resistance trendline. If we look at the OI data: PCR = 0.74 shows the market has a NEUTRAL sentiment. 24400, 24500, and 24600 have significantly higher CE writing than the lover levels PE writing. The market has big support at 24000. I am expecting the market to be volatile, sideways, bullish. Reason: RSI = 40-60; shows the market is going to be sideways. Price > EMA(13, 50, 200), which indicates the bullish market. PCR = 0.74 indicates market bullish sentiments. price > VWAP shows a Bullish market structure. Verdict: Sideways or Bullish Plan of action: wait for 15 min candle. wait for the market to make a direction and make the position accordingly.
NSE:NIFTY
by finnova_
2
Nifty Intraday Support & Resistance Levels for 11.07.2024On Wednesday, Nifty made a new all-time high of 24,461.05 before falling 300 points to an intraday low of 24,141. It found support at the 75m Demand Zone mentioned in the last post and bounced back nearly 200 points, closing at 24,324. The weekly and daily trends (50 SMA) remain positive. Support Levels: Near Support/Demand Zone (5m): 24,246 - 24,265 Major Support/Demand Zone (75m) for weekly trade: 24,056 - 24,150 (tested yesterday) Resistance Levels: Small Supply/Resistance Zone (15m): 24,398 - 24,419
NSE:NIFTY
by PriteshPalan
NIFTY prediction for today 10 July 24As we discussed, NIFTY opened sideways and ended up sideways bullish. If we look at the chart now: The market is trading in an uptrending channel. The market is experiencing minor resistance in the middle of the channel. As the market is trading at an all-time high, if it breaks the middle resistance to the upside, it can give a bullish momentum. There are no horizontal levels as per price action. Please monitor the trendlines drawn on the chart. Support levels: 24350-24400 range-support-zone, support trendline Resistance levels: dotted resistaance trendline, main resistance trendline. If we look at the OI data: PCR = 1.13 shows the market has a bullish sentiment. 24400 will be max pain. On the lower side, have good PE writing at 24300, 24200, and 24000, which will be a nice support point. On the upside, we have good CE writing, but CE writing is significantly lower than CE writing. I am expecting the market to be sideways bullish until it breaks the channel on either side. Reason: RSI = 57 shows a mild bullish signal, but as the market is showing bearish divergence, it might correct itself soon. Price > EMA(13, 50, 200), which indicates the bullish market. PCR = 1.13 indicates market bullish sentiments. price > VWAP shows a Bullish market structure. Verdict: Sideways or Bullish Plan of action: wait for 15 min candle. wait for the market to make a direction and make the position accordingly, Note: Don't go for option buying unless the market gives the breakout on either side of the channel.
NSE:NIFTY
by finnova_
2
Nifty Intraday Support & Resistance Levels for 10.07.2024On Tuesday, Nifty broke through the small resistance zone and made a new all-time high of 24,443.60, closing above 24,400 for the first time. The weekly trend (50 SMA) is now overbought, and the daily trend (50 SMA) remains positive. Support Levels: Near Support/Demand Zone (5m): 24,382 - 24,400 Far Support/Demand Zone (5m): 24,204.20 - 24,222.65 Support/Demand Zone (75m) for Weekly Trade: 24,056 - 24,150 As of now, there is no resistance zone seen on the chart.
NSE:NIFTY
by PriteshPalan
NIFTY Prediction for tomorrow 8 Jul 24NIFTY did open gap-down, and then after taking support at support, it gave a nice bullish momentum to the upside. If we look at the chart now: The market is trading in an uptrending channel. It has taken support multiple times and also has taken resistance multiple times. I expect it to break soon. If the market shows bullish momentum to the upside, it will be taking resistance at the resistance trendline, which might then initiate a bearish momentum after that. Support levels: 24182, 23952, and 200-EMA Resistance levels: Red Zone, Resistance trendline. If we look at the OI data: PCR = 1.01 shows the market has a bullish sentiment. 24300 will be max pain. On the lower side, 24200 and 24000 have good PE writing, which will be a nice support point. However, 24400 and 24500 have good CE writing, which is going to provide good resistance. I am expecting the market to give a breakout soon out of this channel. Reason: RSI > 50 shows a mild bullish signal. Price > EMA(13, 50, 200), which indicates the bullish market. PCR = 1.01 indicates market bullish sentiments. price > VWAP shows a Bullish market structure. Verdict: Sideways or Bullish Plan of action: Wait for 15 min candle. wait for the market to make a direction and make the position accordingly, Note: Don't go for option buying unless the market gives the breakout.
NSE:NIFTY
by finnova_
2
Nifty Intraday Support & Resistance Levels for 09.07.2024On Monday, Nifty took support at the 15m demand zone (24,204 - 24,244) mentioned in the last post and bounced back to a day high of 24,344.60. The weekly and daily trends (50 SMA) remain positive. Support Levels: Near Support/Demand Zone (5m): 24,204.20 - 24,222.65 Far Support/Demand Zone (30m) in the Gap Level: 24,110 - 24,148 Support/Demand Zone (75m) for Weekly Trade: 24,056 - 24,150 Major Support/Demand Zone (Daily): 23,350 - 23,667 In the coming days, the 24,000 - 24,200 range will be the major support in the short term. Resistance Levels: Near Small Supply/Resistance Zone (30m): 24,372 - 24,401
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 08.07.2024On Friday, Nifty opened gap-down but found support at the gap level (24,123 - 24,207) and bounced back to close with a gain of 22 points at 24,323.85. The weekly and daily trends (50 SMA) remain positive. Support Levels: Near Small Support/Demand Zone (15m): 24,204 - 24,244 Far Support/Demand Zone (30m) in the Gap Level: 24,110 - 24,148 Support/Demand Zone (75m) for Weekly Trade: 24,056 - 24,150 Major Support/Demand Zone (Daily): 23,350 - 23,667 In the coming days, the 24,000 - 24,200 range will be a major support in the short term. Resistance Levels: Near Small Supply/Resistance Zone (30m): 24,372 - 24,401
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 05.07.2024Nifty opened gap-up and made a new all-time high of 24,401 but closed flat with just a 15-point gain. The weekly and daily trends (50 SMA) remain positive. Support Levels: Near Small Support/Demand Zone (15m): 24,239 - 24,267 Multiple Timeframe Support Zones near Gap Level (24,123 - 24,207): This indicates that 24,000 - 24,200 will be a major support in the short term, and we might see a bounce from these levels. Support/Demand Zone (30m) in the Gap Level: 24,110 - 24,148 Support/Demand Zone (75m) for Weekly Trade: 24,056 - 24,150 Support/Demand Zone (15m): 23,985 - 24,912 Major Support/Demand Zone (Daily): 23,350 - 23,667 Resistance Levels: Near Small Supply/Resistance Zone: 24,377 - 24,401 Currently, there is no additional supply zone seen on the chart.
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 04.07.2024Nifty opened gap-up, making a new all-time high of 24,309.15 and closed at higher levels, gaining 162 points. Both the weekly and daily trends (50 SMA) remain positive. Support Levels: Near Support/Demand Zone (30m) in the Gap Level: 24,110 - 24,148 Near Support/Demand Zone (15m): 23,985 - 24,012 Near Support/Demand Zone (75m) for Weekly Trade: 23,671 - 23,754 Major Support/Demand Zone (Daily): 23,350 - 23,667 Currently, there is no supply zone seen on the chart. Note: Small Demand/Support zone (5m) is at 24239 - 24260
NSE:NIFTY
by PriteshPalan
Where is Nifty 50 Headed Next? Is the journey coming to an end? Date: 3rd July 2024 Nifty Elliot Wave Analysis - Daily Time Frame General Trend: Since March 2023, Nifty 50 has surged in a remarkable uptrend, skyrocketing from around 17,000 to an impressive 24,300—a spectacular leap of 7,300 points. So, has Nifty 50 reached its limit? Is the journey coming to an end? Here is our previous analysis, which we posted on June 18th, and we are still using the same wave count. Ichimoku Cloud: Applying the Ichimoku cloud to the chart, we see that Nifty 50 is trending above the Monthly, Weekly, Daily, and Hourly clouds. This suggests that Nifty 50 still has more ground to cover. No sign of reversal yet in Ichimoku and Price action. Elliott Wave Analysis: Applying Elliott wave analysis to the entire leg of Nifty 50’s journey from March 2023 suggests that we are currently in subwave 3 of Wave 5. The Wave 5th has already completed its minimum target at 127% (23,898) and is now looking to hit 161.8% (24,600). If this is surpassed, we could see 25,000+ which corresponds to the 200% Fibonacci ratio. The Nifty trend will change only if the daily candle closes below 23,898. Disclaimer: We are not SEBI registered. The content presented here is based on personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
NSE:NIFTYLong
by WaveMoku
2
Nifty Intraday Support & Resistance Levels for 03.07.2024Nifty reached a new All-Time High of 24,236.35 in the opening trade but ended 18 points down at 24,123.85. Both the weekly and daily trends (50 SMA) remain positive. Support Levels: Near Support/Demand Zone (15m): 23,985 - 24,012 Far Support/Demand Zone (15m): 23,716 - 23,743 Near Support/Demand Zone (75m) for Weekly Trade: 23,671 - 23,754 Major Support/Demand Zone (Daily): 23,350 - 23,667 Resistance Levels: Small Supply/Resistance Zone: 24,171 - 24,200
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 02.07.2024Nifty maintained its upward momentum on Monday, breaking the small supply/resistance level mentioned in the last post and closing at 24,141.95. Both the weekly and daily trends (50 SMA) are positive. Support Levels: Near Small Support/Demand Zone (15m): 23,985 - 24,012 Near Support/Demand Zone (15m): 23,716 - 23,743 Near Support/Demand Zone (75m) for Weekly Trade: 23,671 - 23,754 Major Support/Demand Zone (Daily): 23,350 - 23,667 Resistance Levels: Currently, there is no supply zone seen on the chart.
NSE:NIFTY
by PriteshPalan
NIFTY prediction for tomorrow 02 JUNEAs we discussed, NIFTY opened sideways and continued in a bullish direction after breaking the trendline, as discussed in the video. If we look at the chart now: The market is trading at the resistance level, where it showed a nice correction last time. Now, the market has made a zone in the range of 23984 - 24154. by the time the market is in the zone, it's going to be volatile sideways. Once it breaks in either direction, it's going to give nice directional momentum. As the market is already stretched, I am expecting the market to consolidate in 1 day or 2, and after that, it might give us good momentum. Support levels: 23984, EMA(50), 23842, and 23692 resistance levels: 24154, 24325 If we look at the OI data: PCR = 1.07 shows the market has bullish sentiment. 24200 seems a good hurdle to the upside; if it breaks, the market is clear to go 24354. 24000 has good PE writing, which is going to provide good support, and 24500 has heavy CE writing, which is going to provide nice resistance. I am expecting the market to consolidate for 1 or 2 days once it breaks the range of 23984 - 24154. it will give a nice momentum. Reason: RSI > 50 shows a mild bullish signal. Price > EMA(13, 50, 200), which indicates the bullish market. PCR = 1.07 indicates bulls are continuously increasing their position in the market. price > VWAP shows a Bullish market structure. Verdict: Sideways or Bullish Plan of action: Sell 24100 CE and 24000 PE (Hedge it with 10/- premium)
NSE:NIFTY
by finnova_
Nifty Intraday Support & Resistance Levels for 01.07.2024Nifty made a new all-time high of 24,174 on Friday but closed 34 points negative due to profit booking. The weekly and daily trends (50 SMA) remain positive. However, the supporting trendline on the 15-minute chart (mentioned in the last post) was broken in the last 30 minutes of trading, indicating potential selling pressure at higher levels in the coming days. Support Levels: Near Small Support/Demand Zone (15m): 23,716 - 23,743 Near Support/Demand Zone (75m) for Weekly Trade: 23,671 - 23,754 Major Support/Demand Zone (Daily): 23,350 - 23,667 Resistance Levels: Near Small Supply/Resistance Zone: 24,103 - 24,150
NSE:NIFTY
by PriteshPalan