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Niftyoutlook

Nifty weekly analysis for 05/02/24.Nifty has tested the higher levels and got rejected from the high forming a hanging man candle on the daily charts. Weekly charts is still showing some postivity and it is still way high from the weekly 20 ema. The market has gained 500 points on the weekly close and is looking positive as compare to the other indices. Major support levels :- 21820, 21660, 21500 There is a possibility of a double top pattern formation but confirmation for the M pattern will be below 21230 levels. A confusion is there in the market as the budget was about to come this week and market participants were over excited for that . It will face a major resistance from ATH and if it goes up to the levels and consolidate from 2-3 trading session or create halt candle, high chances for testing 23k levels will be there. Resistance :- 21900 (hourly), 22130 (ATH). Wait for the price action near the levels before entering the trade.
NSE:NIFTY
by Mambotrade
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 Bouncing between daily order blocksNifty is bouncing between the two daily order blocks marked by the blue color. Intraday we found support at the hourly order block to push prices back up to the order block where we saw instant rejection. I am looking for prices to disrespect one of the two order blocks to see where prices will be heading. As for tomorrow, if we open up, we might again see prices fall down, even to the discount order block at 21780.65. If we open flat or gap down, we might see a fall and then a rise to take the all-time high as well. As of now, I don't see a clear bullish or bearish argument, so I'll take trades based on where the market opens tomorrow.
NSE:NIFTY
by Ripul012
#Nifty directions and levels for FEB 7."Good morning, friends! Here are the directions for February 7th: The global market sentiment is moderately bullish, supported by the Dow Jones, while our local market sentiment shows a moderately bullish trend. It might open with a gap-up start, as indicated by Giftnifty showing a +110. Nifty has a pullback structure as expected from the last session. So, there are no changes in the direction. If the market breaks the immediate resistance (22041), it may continue the rally further. Alternatively, if it rejects at either 22041 or 22081, then we can expect a correction ranging from 38% to 61%. This also indicates a bullish sentiment, suggesting an initial range-bound market before the continuation of the rally.
NSE:NIFTY
by Manickamtraders
06 Feb ’24 — Nifty takes out the resistance of 21319 on lower TFNifty Analysis - Stance Neutral ➡️ Recap from yesterday: “The chart pattern is not at all bearish, in fact, it is more bullish than bearish. But we all know for an upward move, the resistance has to be knocked out whereas the support has to be breached for a downward move. For tomorrow, we wish to maintain our neutral stance and wait for some directional clues to appear.” 4mts chart Nifty does the tough job today - to take out the resistance of 21913. The real job of going bullish is so easy tomorrow, all it needs to do is hold the ground and the bulls will bring the momentum for the rally. Over the last 3 trading sessions, we witnessed 2 failures i.e on the 2nd and 5th Feb. Today against all odds, we opened at a level quite lower than this resistance area and then managed to pull up to the zone and then beat it. In a way, the slow and steady grind is much powerful as we have seen that this market rarely gives leeway to the Bears. BankNifty was not at all supporting Nifty and almost all the gains came from the NiftyIT stocks. NiftyIT closed the day with a super strong gain of 2.92%. 63mts chart The good news of the resistance break is only for the lower time frame. Nifty is still undecided on the 63mts TF and for that same reason, we wish to start the day tomorrow with a neutral bias and then go long if we have a green candle above the 21913 zone. Only if BankNifty lends support we can take out the ATH and there is no better day than the expiry day for such feats.
NSE:NIFTY
by viswaram
#Nifty directions and levels for February 6th. #Nifty Good morning, friends! Here are the directions for February 6th: The global market sentiment is moderately bullish, supported by the Dow Jones, while our local market sentiment shows a moderately bearish trend. It might open with a neutral to a slightly gap-up start, as indicated by Giftnifty showing a +20. Nifty has had a reddish sentiment in the past two trading sessions. Even though it is reddish structurally, we can expect a rally continuation when it breaks the fib level 38%. This is because the previous wave count shows a proper 5-3 structure. If the market sustains the gap-up and breaks the fib level 38%, then we can expect further pullback continuation with minor consolidation. Alternatively, if the gap-up doesn't sustain or opens with a gap-down, then we can expect correction continuation. It might not be in ABC structure; it might go in a 5-wave structure.
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NSE:NIFTY
by Manickamtraders
2
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
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
Nifty weekly expiry on BUDGET day (01/02/24).Tomorrow is nifty weekly expiry and financial budget. There will be much volatility in the market as both the events are on the same day. Nifty has given a nice move in the first half and consolidated in the second half. If the market opens flat or slightly lower, after the break out bullish trade can be initiated and heavy quantities should be enter only once it starts trading above 21800. Major resistance levels :- 21750-810, 21970 Gap filling trade can be made on the break out. Support for bearish targets :- 21660, 21480, 21250 Watch for the option premiums flactuations as there will be decay and movement at the same time. Price action near the levels for setup must be watch before entering. Straddle or strangle may give some profits. Keep a strict loss and target fixed.
NSE:NIFTY
by Mambotrade
AWHCL: Ready for the Next Leg Up.After a robust upside run, AWHCL took a breather with a consolidation phase lasting around two months. This period of sideways movement allowed the stock to gather strength for its next move, and it looks like the breakout is finally here. Technical Analysis: Consolidation Period: AWHCL showcased resilience during the consolidation, indicating a potential accumulation of buying interest. The stock's ability to maintain a sideways range for an extended period is often a positive sign. Breakout Confirmation: The recent breakout is a strong signal that the market sentiment has shifted. The bulls seem to have regained control, and the price action suggests a renewed interest in the stock. Support Test: Today's move is particularly noteworthy as the stock tested a key support level, demonstrating its ability to hold ground even after the breakout. This is a positive sign of sustainability and strength in the current upward momentum. Volume Confirmation: Always keep an eye on volume. An increase in trading volume during the breakout and support test further validates the authenticity of the move. (Note: This is a fictional post for illustrative purposes and does not constitute financial advice. Always conduct your own research before making investment decisions.)
NSE:AWHCLLong
by TTS007
#Nifty directions and levels for JAN 30thNifty has a solid pullback structure. So, if the market opens with a gap-up, then we can expect further rally continuation. After that, if the rally rejects around the supply zone or 21917, then the following correction may take a 23 to 38% Fibonacci correction. Structurally, it might be in the 4th phase, so after that, if it takes support around there, then we can expect the 5th pullback wave. However, this sentiment will be applicable for a gap-down opening. After the gap-down, the market may correct a maximum of 23 to 38%. Also, we assume it may be the 4th structurally. After that, if it takes support around there, then we can expect the 5th pullback wave
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
Swing Traders Alert: Nifty Outlook for 29/01/2024 - 02/02/2024Technical Observations: Moving Averages: The Nifty index is currently trading below both the 30 SMA and 50 SMA on the 75-minute chart. This indicates a significant weakness in the market, as the shorter-term (30 SMA) and intermediate-term (50 SMA) trends are both bearish. Key Support Level: The market is currently trading below a crucial support level of 21500. This breach suggests increased bearish pressure, and traders should exercise caution when considering new trades. Trading Strategy: Cautionary Approach: Given the observed weakness in the Nifty chart, traders are advised to exercise caution when contemplating fresh trades. It is prudent to wait for more clarity in the market conditions before initiating new positions. Resistance Levels: Immediate Resistance: 21500 The market must break above this level to signal a potential shift in sentiment. Traders can monitor this level closely for signs of a bullish reversal or further weakness. Crucial Resistance: 21700 A break above this level would indicate a stronger bullish phase in the market. Consideration of new trades can be more confident if the Nifty surpasses this crucial resistance. In conclusion, the Nifty index exhibits significant weakness as it trades below key moving averages and a crucial support level. Traders should exercise caution when considering new positions and closely monitor the immediate resistance at 21500. A breach of this level, followed by a move beyond the crucial resistance at 21700, could provide opportunities for entering trades aligned with the evolving market conditions. Stay vigilant, adapt to changing circumstances, and adjust trading strategies accordingly. Disclaimer: The information provided in this analysis is for educational and informational purposes only. It is not intended as financial advice or a recommendation to buy or sell any securities.
NSE:NIFTY
by TTS007
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 directions and levels for JAN 24th#Nifty "Nifty had a sharp correction. structurally, it might be in a 'C' or '3rd' wave. So, if the market opens with a gap-down, then the correction will likely continue. After the correction, if the market takes support around 21,159 or the Demand zone, we can expect a minimum of a 23% to 38% pullback wave. However, if it doesn't take support, then we can expect further correction. Alternatively, if the market opens with a gap-up, then initially we could expect a 23% to 38% pullback wave. After that, if it rejects there (at 38%), then we can expect correction continuation (meaning the 'C' leg continuation).
NSE:NIFTY
by Manickamtraders
1
NIFTY OUTLOOK (With this pattern I predicted the COVID CRASH)Amid the all fears of Rising crude oil prices, Fed hiking rates, Rising US treasury yields with no sign of inflation being in control or Rising Dollar index. There is no doubt that bearish sentiment has prevailed among many retail people. But one thing cannot be denied that Indian market has stayed more defensive compared to global markets. One pattern that I have observed is after every 700 -730 days a high is formed in NIFTY. So according to the same cycle, I strongly feel indian markets may correct in healthy manner by forming a top near 1st - 2nd week of Dec 2023. Even if NIFTY falls before, it will form a pull back top at around the same time. Using the same cycle I predicted the COVID CRASH few years back : Link to the study: That doesn't mean one has to buy every dips or short every top. But a profit booking on the every rise is definitely advisable. Aggressive shorts can be done only after confirmation. CHART AND ANALYSIS ADARSH DEY
NSE:NIFTY
by AdarshDey
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