Nifty 50 longnifty 50 complete triple complex correction today
first correction name normal flat
second correction name common flat
third correction name normal flat
Niftyoutlook
31 Aug ’23 Post Mortem on Nifty - Monthly, Weekly & Daily ExpiryNifty Monthly Analysis
In the Aug monthly series, Nifty is down 387pts ~ 1.97%. This month did not produce a reversal signal even though there were 2 attempts on 24th & 30th respectively. As it stands Nifty is following a bearish trend channel quite efficiently. My next support comes at 18880, so if the fall were to accelerate in September, its good to know the next milestone.
Nifty Weekly Analysis
Between the last expiry and today, Nifty has fallen only 100pts ~ 0.52%. Not something unusual comparing the monthly fall. Interestingly we made an attempt to reverse the trend yesterday - but that got run by a truck today.
Nifty Daily Analysis
Today’s price action was a continuation of what we had yesterday. If you look at the chart below, it is tough even to make out the separator between yesterday and today.
The reason for the fall today may be attributed to the allegations on Adani by Hindenburg along with the OCCRP, a firm funded by George Soros revealing data about a possible insider trading & manipulation. The data available on the public forum is pretty skewed and I personally dont have an opinion on it right now. But of all the rules set by SEBI, the insider trading case is the biggest manipulation that is possible. Once the investigation gets completed and if the claims still stand - it is going to put a real awkward image about India and Indian companies among the FIIs and HNIs.
The fall that happened today was nothing in front of what could happen. On a headline level we just fell 0.48% today well within the average true range. But this fall of 93pts took out the hope of bulls to have a reversal. Not only we breached the support of 19310 today, we even took out the swing low of 25th Aug.
From tomorrow if we stay as it is, then the horizontal support line of 19310 will no longer be required. All that stays back will be the bearish channel. I wish to change by stance to bearish for tomorrow unless the 19310 resistance is breached.
FASP levels for Nifty 01/09/2023The FASP for Nifty is listed for 01-09-2023. 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.
FASP levels for Nifty 31/08/2023The FASP for Nifty is listed for 31-08-2023. 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.
30 Aug ’23 Post Mortem on Nifty - 111pts fall in 60mts why? 🤔Nifty Analysis
This is what I wrote yesterday - “For tomorrow, I have a 60% neutral and 40% bullish view as we are right at the upper channel and above the support.” . Never did I believe we could have a neutral closing today after the big gap-up open. Even till 13.15 there was no sign of weakness and Nifty was looking & staying strong.
Luckily Nifty is a notch above the bearish descending channel. Still giving hopes to the bulls. I still have not figured out the reason why we fell 111pts after that. Was it the China news of stimulating the economy, cutting taxes on stock markets, a warning of distress or the German CPI or the US GDP expectations? I still dont think the Rs200 cut on LPG cylinder by the Oil Minister & then the comments that it will come as Govt. Subsidy and not from OMC’s margin would have triggered this fall.
This move has opened up multiple possibilities for the monthly expiry tomorrow. Let us discuss them.
On the hourly TF we now have 2 rejections when Nifty tried to breakout from the bearish channel. Both of them had strong selling momentum which indicates the Big-Bear is still alive & kicking. If we take out the descending channel - the chart pattern will appear like a lower high and lower low in which the lower low is not that intense.
For tomorrow I wish to keep a neutral view till 19310 is not taken out and if it does - would wait for the swing low of 19229.7 to be taken out to go short. When going short, I would expect a new lower low to be formed. Meanwhile if Nifty stays strong and respects the support - I will still keep my fingers crossed for a breakout momentum.
FASP levels for Nifty 30/08/2023The FASP for Nifty is listed for 30-08-2023. 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.
29 Aug ’23 Post Mortem on Nifty - 60% neutral 40% bullishNifty Analysis
Yesterday we had a neutral call on Nifty “Most importantly the 19310 support/resistance stands in between. A break in support may cause Nifty to follow the bearish channel. Whereas a breach in resistance will give Nifty breakout momentum as it exits the falling wedge. I wish to go with a neutral stance for tomorrow till we get some clarity.” You may not believe it, but today’s price action was between the 19310 horizontal support and the descending trend line.
The momentum was just not there to break the support nor break the trend line. We had 3 attempts each and all three of them failed. The open was gapup right at the trend line and we fell to the support by 10.25. From there we had a steady rise till 13.30 where we retested the trendline again but faced rejections.
The 2nd fall to the support came at 14.20 which was quick but lacking force. At 14.55, I seriously thought the support would get breached - instead we shot up to the trendline to close exactly on it.
On the 1hr TF, it seems like Nifty is coming under immense pressure to pick a direction. All clues are hinting at a bullish breakout as the support is too strong to be broken. The only reason the breakout is not happening may be because the big-bears have still not given up or booked profits. If new bears are not taking fresh shorts, then the existing short-sellers may have to run for cover as the market has a natural tendency to move up if it stays like this.
For tomorrow, I have a 60% neutral and 40% bullish view as we are right at the upper channel and above the support. If Nifty is unable to exit the channel in the first 90mts, I will look for neutral positions only. And if the lower channel is tested - I would like to convert my current positions to bearish ones.
nifty might break downward reasons read descriptionhi guys,
that is rising wedge where chances of breaking down are high and resistance is exactly neck line of an head and shoulder and adx shows trend strength is weak,so in my opinion this is just a pull back , i think it will break down lets see what happens
disclaimer- this is not any investment call or idea , this just my view and it can go wrong ,this is only for educational purposes trade at your own risk :)
FASP levels for Nifty 29/08/2023The FASP for Nifty is listed for 29-08-2023. 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.
Nifty daily analysis for 29/08/23.Nifty is still forming doji after doji. The market on the daily time frame is still below the moving average and in sideways mood.
On the hourly charts, market tested the support zone and tried to move up but took resistance from the 20 ema and gave a retracement after touch the levels. There is also an evening star pattern there.
Market slow tried to move upper but couldn't give some conviction as there was a rejection from 20 ema (60 minute) and 38.2% levels.
On 15 minute charts, nifty has closed below both the moving averages and is taking support around 19300 levels.
The market are showing some negative sentiments as it is taking resistance from the key levels.
Support :- 19250, 19180, 19000
Resistance :- 19380, 19480
Wait for the price action near the levels before entering the market.
Nifty Trade Setup for 28-08-2023nifty important levels to watch are as follows
#Support: 19230
Sell below: 19230 only on 15 minute candle closure below the level.
Target 1: 19160
Target 2: 19075
#Resistance: 19330
Buy Above: 19330 only on 15 minute candle closure Above the level.
Target 1: 19385
Target 2: 19473
#Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital.
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Nifty weekly view for 28/08/23.Nifty on the weekly time frame has given a gravestone doji which shows some negativeity as it is sitting near the support levels of 19250 which has been tested many times. If market starts trading below the support level other supports are far enough to give a nice swing trades.
On the daily time frame, market opened gap down and has formed a doji candle closing 120 points lower. The market is looking somewhat bearish as the weekly candle is.
Market is trading below the 20 ema and has not crossed the previous swing high. The market tried to cross the moving averages by a break away gap buy couldn't sustain it and reversed falling around 200 point form day high.
On the hourly charts, it traded whole day below the moving averages and consolidated near the support zone. Market is consolidating in a range, break out or break down can give nice movement as a long consolidation is going on.
Nifty on close to close basis has been in a range of 250 points as it is respecting 19500 and 19250 levels. Bearish or bullish trend will only be decided once the market starts closing outside the range. Watch for the market close as there will be good targets to hit.
Support :- 19250, 19180, 19000
Resistance :- 19380, 19480
Supports are made near the day close as there can be a gap filling if there is a break down. Swing targets will be around 18880 as the market will retest the previous resistance zone.
Wait for the price action near the levels before entering the market.
What if its a bullish flag?Something to debate & research on.
Although nifty is in a bearish trend on the 1hr and 1D time frames. On the weekly TF it resembles a bullish flag.
what do you think ?
25 Aug ’23 Post Mortem on Nifty - reversal in trend, below wedgeFor the last two days both my predictions have gone wrong. On 23rd Aug I recommended a long but we closed in negative territory. On 24th I recommended a neutral stance, but we went deep red today. On both the occasions, I had mentioned the rationale on why I have taken that decision and how I may react if the market makes a different move.
Today we opened gap down right at the support/resistance zone of 19310 and went down quite strongly in the first candle. From there Nifty made 2 attempts to breach this SR and go up - but failed. We woke up to bad news from the US that FED & its commitment to bring inflation to the 2% band.
What this did to our markets is bring about a reversal in trend. Just the previous day we had a breakout from a falling wedge pattern and Nifty was breaking free to take out the 19700 levels - but this cut short.
This is what I said in yesterday’s report “For tomorrow I wish to change my stance from bullish to bearish. If we trade above the trend line for more than an hour - I wish to go long. And if we fall below 19310 - I wish to go short. Till then prefer to stay neutral.” I took the short position right at the open as my short criteria met. But the position is still not so profitable as the market did not fall further. I was hoping for more than a 1%+ fall today.
I have made a modification to the 1hr TF. The newest addition is the bottom trend line which is almost parallel to the top bearish line. The reason to bring this up is to find out what will happen since the support was breached. Since Nifty was respecting the bottom trend line on 4 previous occasions, I expect it to comply going forward also.
For Monday 28th Aug I wish to change stance from neutral to bearish with a stop loss just above 19310 if it stays there more than an hour. My next strong support comes at 18880 which means the fall could be quite deep.
Nifty daily analysis for 25/08/23.Nifty after a gap up opening gave a selling and closed below the 20 ema and has formed an engulfing candle.
On the hourly charts, after the first hour is came for selling and continued the sell off, closing 57 points lower near the support level and below both the moving averages.
Global market are too trading in negative and if nifty starts trading below 19250 levels there will be a panice selling as it has bounced from that levels and the support is becoming weak.
On 15 minutes chart, the moving averages are close enough and there will be a bearish cross over if there is another sell off.
There are chance of a bearish trend as a fake out has been proved in nifty. Though, banknifty tried to remain in the green but has closed only 17 points higher which is a flat closing.
Support :- 19370, 19260
Resistance :- 19480, 19550
Wait for the price action near the levels before entering the market.
24 Aug ’23 Post Mortem on Nifty + weekly analysis - neutralNifty Weekly Analysis
Between the last expiry and today, Nifty has just gone up by 32pts ~ 0.17%. But this week has seen a wide swing of 332pts ~ 1.72% i.e from the low of the week to the high of the week. The drama mostly in today’s price action which we will be discussing shortly.
Nifty Daily Analysis
Today’s price action was action filled with drama right from the start. A mega gap up open of 94pts ~ 0.49% and then a steady climb of another 47pts to hit the HOD @ 19584. And from there a totally unexpected reversal that brought Nifty back to the falling wedge pattern.
The gap up was expected mainly because of the breakout we saw in banknifty (which had exited the falling wedge pattern) + the good handouts from the global markets. India also landed Chandraayan on the Moon which would have built the euphoric levels.
From the report yesterday, I advised to go long and personally I took the long position as soon as we opened. The further upmoves reinforced my decision. But the reversal started happening, I had to buy some PUTs to save my long CALLs. I was hoping the pullback will not close the gap - the real surprise came when it went below the falling wedge pattern - more or less negating the gap-up & breakout possibilities.
On the 1hr TF you can notice the magnitude of the gap we had and the intensity of the shorts that followed. The momentum was so deep to pierce through the bearish trendline (blue color) with so much ease. Another 60+ points fall would have forced me to go short today. For tomorrow I wish to change my stance from bullish to bearish. If we trade above the trend line for more than an hour - I wish to go long. And if we fall below 19310 - I wish to go short. Till then prefer to stay neutral.
Nifty Intraday Trade Setup | 25th AugExpectations: Volatile Day
Intraday Levels:
Buy Above - 19440
Sell Below - 19370
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Happy Trading!
InvestPro India Team
Expiry Special Analysis NIfty Intraday levels || Hero & Zero dayGood Morning Everyone,
First of all Being an Indian i want to congratulate all the Indians that CHANDRAYAN-3 GOT SUCCESSFULLY LANDED ON CHANDAMAMA (MOON) Guy's, we have done what is very difficult for many countries to even think. Really a great job done by our ISRO Scientist team, they are really a Real Super Heros in actually for our country, they just made us proudful. Now we are the 4th country who has done this miracle. Guy's there is a saying NEVER GIVE UP, and India is the example for that, after the failure of Chandrayan-2, Our scientist has done well and they have made a huge come back, this is really a Grand Success for them. Sorry guy's this has been little lengthy in writing all this but i really want to Motivate the Traders and Investors that NEVER GIVE UP, keep learning and practicing the things, Success is on the way, your time is coming guy's.
Now let's focus on Nifty levels and Today's expiry day Analysis:-
Guy's i have analysis of daily time frame and i found a Dogi candle on daily timeframe. I think from here if nifty goes past and holds above 19500, then it can move towards 19650 but in case of a fall, then we will see another round of selling pressure in NIfty. Yesterday Nifty has not done well as compare to other indices specially banknifty, After opening higher at 19439, Nifty gave up all the gains in early in morning and made low at 19366 and then after doing some time pass over there it has come again up and did not survived above 19450. i had told you guy's in last day nifty analysis that nifty is trading in a range (19450-19379) and we have seen same volatility in yesterday sessions. Alright guy's Now we have to watch 19500 levels, if that got breakout successfully then 19650 will coming soon.
Important levels for Nifty:-
Support zone 19350-19370
Resistance zone 19450-19470
Best buy will be when nifty cross above 19475 and sustains at least for 30 mints.
Targets we can see in upside 19555/19602+
Keep stop loss at 19425
Best sale levels will be, once nifty breaks 19360 and sustains at least for 30 mints.
Targets we can see in downside 19299/19242-
Keep stop loss at 19425
Note:- Hero Zero Trade will be in 2nd half somewhere 1:15pm. So, we will update in afternoon according to price action, so stick with us and follow us to get notity at right time. Till then enjoy but don't overtrade and Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction.
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.
Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's.
Thankyou.
23 Aug ’23 Post Mortem on Nifty - India Lands on Moon 🌒🌓🌕Nifty also closed in the green today but did not have as much momentum as BankNifty today. The first divergence happened in the opening 1 hr where Nifty gave up 0.43% ~ 83pts even after having a gap-up opening. The real reasons for a gap-up opening was not clear as the Global hand-out was not that positive.
Traders including me were looking for breakdown possibilities as the 5mts candles at 09.15, 09.25 and 09.50 had so much force. Since Banknifty started reversing the trend and was showing a breakout possibility, I did not adventure getting into shorts on Nifty50.
Once the momentum was set by the breakout on BN, Nifty also caught up to it. There were still many sectors in red - Auto, Commodities, Consumption, Energy, FMCG, Pharma & Metal. This indicated that the rally in Nifty will not be as powerful as BankNifty.
The reason I drew 2 bearish trend lines yesterday makes more sense today. If we go by the orange line - it means we already had a falling wedge breakout. If we go by the blue - we are yet to break it.
Tomorrow’s opening minutes will give us the exact answer to that question. Personally I feel we are yet to break out and the blue line is more accurate. To have a real breakout, almost all the sub-sectors also has to be in green.
Since Banknifty has already broken out, the probability has shifted into a similar trade direction for Nifty as well. I wish to change my stance from neutral to bullish for tomorrow. If the breakout fails or we hit the 19310 level tomorrow, I might have to fall back.
Nifty Intraday Levels 23/Aug/23Good Morning Traders, Guy's yesterday Markets traded range bound and ended almost unchanged amid mixed cues. After the marginal uptick, the Nifty oscillated in a narrow band and finally settled around the day's low to close at 19396.45 levels. (FII) sold shares Rs. 495.17 crore, whereas (DII) Purchased Rs. 533.75 crore worth of stocks on yesterday session. On the technical front, the market is witnessing a non directional activity on the higher side and finding resistance near 19450, while on the lower side the index is regularly taking support near 19375. Any fresh uptrend is possible only after the breakout of 19450, and then nifty could rally til 19500-19550+, On the lower side breakdown of 19375, can take nifty towards 19300-19250 levels.
Important Levels for Nifty-
Support zone 19355-19375
Resistance zone 19430-19450
Buy above 19450, if levels sustains at least for 30 mints
Targets we can see in upside 19524/19603
Keep stop loss at 19369
Sale below 19369, if levels sustains at least for 30 mints
Targets we can see in downside 19299/19242
Keep stop loss at 19450
Note:- Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction.
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.
Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's.
Thankyou.
Morning Mantra - 23rd August 2023Dear All,
So the consolidation is still continued in the Market and in such a situation it becomes quite difficult to predict the next move.
However, we still have the hope of 19300 as the level of support, while on the other side 19550 as the strong resistance level.
Therefore, Cherry Picking and Portfolio Rebalancing are the only ways to sustain in such kind of a Market, as of now.
Furthermore, over the last 2 days on the weekly chart of Nifty, we have observed a very impactful positive chart setup, while on the Day chart we can once again witness a Doji Formation.
So, with fingers crossed we are hoping for the best.
Regards,
Alok Daiya
SEBI Registered Research Analyst
22 Aug ’23 Post Mortem on Nifty - stance remains NEUTRALYesterday we had a neutral stance for Nifty and a bearish stance for BankNifty. If you were watching every 5mts candle today, you wouldn't believe how we ended up getting Nifty at +0.01% and BankNifty down 8.75pts.
Nifty makes a beautiful rounded top formation today, will wait for tomorrow to see if we get the cup & handle formation. As soon as the day started it was pretty clear that we will not have any major movements today. The reason being absolutely low options premium on FinNifty which had expiries today.
Usually Finnifty (which is quite liquid these days) shows some excitement in options premium if a directional trend exists. And since it sucks out the liquidity from banknifty and nifty - we see jumps in their premiums as well (OTM). Since those jumps were not there today, we assumed it was going to be a flat day.
Well the data did not disappoint - we did have a flat day, but the price action was nothing as expected. Never ever thought we will get a rounded top formation.
If we look at the 1hr TF - we are still inside the falling wedge pattern. I just drew one more descending channel (orange color), the rationale being a few gaps in the prior session. See the blue circled regions, nifty failed to reach till the original trend line (blue color) in those instances. Do not worry, we will decide which one to keep by this Friday.
I am continuing my neutral stance for Nifty50 for tomorrow. If we fall below 19260 tomorrow, I will go bearish. If we take out the 19460 levels - I will go bullish.
FASP levels for Nifty 22/08/2023The FASP for Nifty is listed for 22-08-2023. 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.
