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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
NSE:NIFTY
by alokdaiya
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.
NSE:NIFTY
by viswaram
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.
NSE:NIFTY
by SathishChandrasekaran
21 Aug ’23 Post Mortem on Nifty - stance corrected to neutralOn our last day’s report we discussed the possibility of Nifty staying above the 19309 levels. It was with great difficulty that we got a closing below 19309 on Friday, today we opened right there and then had a good rally till 19370 levels. Immediately we started reversing and fell below water by 10.10. The price action is similar to the 14.00 to 15.00 period. The change in stance did not come in the opening 1hr candle, thats because we did not have a perfect candle outside of the resistance line. From 10.15 - the path that Nifty took was magical, we rose 129pts ~ 0.67% from the day’s low to high with no real pullback till 15.00. The 2nd hourly candle gave the change in stance signal i.e from bearish to neutral. On the 1hr TF, Nifty is back in the falling wedge pattern (which is a bullish case). We need to wait for a perfect bullish signal - once we reach the convergence of the descending trendline and the horizontal support, it should break out. Bears have a case if they can bring down the prices below 19309 again and keep it there for another 1 to 2 days. My stance for tomorrow stands corrected to neutral from bearish.
NSE:NIFTY
by viswaram
Nifty Tradesetup for 21-08-2023nifty important levels to watch are as follows #Support: 19260 Sell below: 19260 only on 15 minute candle closure below the level. Target 1: 19190 Target 2: 19110 #Resistance: 19380 Buy Above: 19380 only on 15 minute candle closure Above the level. Target 1: 19480 Target 2: 19560 #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. Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
NSE:NIFTY
by InvestyourAsset
2
Morning Mantra - 21st August 2023Dear All, As we had observed a Doji formation on the Day chart of Nifty on the last Friday. Likewise, fortunately we had witnessed a closing of above 19300 on Friday itself. However, overall the situation is still quite crucial as of now, since Nifty is finding difficulty and is not being able to reach and sustain above the level 19550. Therefore, in such a situation it is being very difficult to predict about the next move of the Market, as of now. But still we have the 2 important levels to consider, i.e., 19300 and 19550 on the upper side. Moreover, just as we had stated on the last Friday as well, similarly there’s a probability to witness some panic in the Market if in case Nifty breaks the level of 19300 on closing basis. So, in such a situation, following the Cherry Picking strategy will be a good idea here, also it will be better to keep Rebalancing the portfolio . Furthermore, for those who had already been rebalancing their portfolios at around the 20000 level, they can be suggested to partially accumulate in the Market following the Cherry Picking strategy as of now. Keep Trading! Keep Investing! Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTY
by alokdaiya
Case Study of Nifty with Elliott Wave ProspectiveHello Friends, Welcome to our Case Study of Nifty with Elliott Wave Prospective. In this analysis, we'll be taking a closer look at the Nifty index using a powerful tool called Elliott Wave theory. Think of Elliott Wave as a way to uncover hidden patterns in the market's movement, a bit like solving a puzzle. Imagine you're on a journey to understand where the Nifty index might be headed next. We'll be using the Elliott Wave lens to interpret the price movements and potential trends. This isn't about predicting the future with a crystal ball – it's about using historical patterns to make informed guesses about what could happen. Throughout this case study, we'll dive deep into Nifty's recent price action and explore how it aligns with Elliott Wave principles. We'll be looking for waves and patterns that have appeared before and could repeat themselves. These waves might give us hints about potential ups and downs in Nifty's journey. Remember, the market can surprise us, and there are no guarantees. This analysis is like a compass guiding us based on the historical behaviors we've observed in the past. It's always important to consider other factors too, like news and events. By the end of this case study, you'll have a better grasp of how Elliott Wave analysis works and how it can provide insights into Nifty's future moves. So, let's jump into the Analysis video study of Nifty and Elliott Wave together and uncover the prospective paths it might take. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing
NSE:NIFTY
by RK_Chaarts
16
FASP levels for Nifty 21/08/2023The FASP for Nifty is listed for 21-08-2023. 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.
NSE:NIFTY
by SathishChandrasekaran
Change in trend - 3 black crowsAnalyze the time frame: Monthly : Candle engulfing Weekly: Black Crows Daily: Lower lows and lower highs are formation 1. Closed below 19375, implying negative sentiment. 2. Exit the regression channel 3. A decrease in relative strength. The triggering factor is, 1. 33/50 stock decrease. 2. The banking industry is the most affected. Moving forward, 1. The anchor candle would be critical; we could see some sideways movement, and it is expected to act as support. 2. If the nifty closes below 18600 in the following 3-4 weeks, it will be considered bearish. To summarize, a sideways moment is likely to occur ; however, there is no need to worry; a closure below 18600 will be the price to ACT
NSE:NIFTY1!
by OK_Rane
Morning Mantra - 18th August 2023Dear All, Just as we had stated in our Previous Morning Mantra update about our expectation on Nifty creating some cautiousness in the Market. Likewise the same was witnessed yesterday itself. As after a flat to negative opening, the Market showed us a further decline in its levels. Moreover, today is the last trading day of the week. Besides, on the weekly chart, we can now observe a Doji formation. Wherein, as per our expectation, it will somehow be better to witness the same flat closing today as well. As it can show us a positive reversal in the upcoming days. While on the other hand, if in case Nifty gives a closing of below 19300, then we will have to work on our Portfolio as thereafter we can get to witness some further panic in the Market. Same in the case of BankNifty, as even here we can observe a Doji formation on the Day chart. Where, on the positive side, the Index didn’t break through its support level of 43800 on closing basis, yesterday. So, the levels of 44444 and 43800 will remain to be the important levels for BankNifty, as of now. Keep Trading! Keep Investing! Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTY
by alokdaiya
17 Aug ’23 Post Mortem on Nifty - Bears are still fighting 🐻🐻Nifty Weekly Analysis We have fallen 201pts ~ 1.03% between the last expiry and today. If you notice the chart below, Nifty is closely following the bearish trend line and we will get a range convergence soon. If the support line of 19309 is not breaking - we will have a bullish reversal. Global macros, India inflation data and other sentiments are pointing for a bearish case though. What will Nifty do? Nifty Daily Analysis I was very much impressed with today’s price action by Nifty. If you notice the trades we had yesterday - it was much contrary to what traders were anticipating. Today we just negated those moves. You might remember the 15.00 candle that went up 45 pts yesterday - it really made no sense. I was thoroughly looking for any events to find out why we had a surge yesterday, but today’s reversal and negation brings back sanity. We had 2 legs for the fall today, the first leg a fall of 83pts till 10.00 and then the second leg of 89pts between 11.05 to 13.00. The options flow did indicate we would have a bear day today, but I seriously thought the 19309 support line may get broken. RELIANCE, ITC, HDFCBK, LT, KOTAKBK, BAJFINANCE were the main losers today and TITAN, ADANIENT, SBIN the main winners. The market depth favored the bears too with 33/50 in red. Finally this is what we have now, the pressure mounting on Nifty50 to breakout or breakdown. Technical Analysis points to a breakout and the Fundamental Analysis hinting at a breakdown due to poor macros. Today’s 99pts fall is giving some hope to the otherwise beaten bears - their first priority tomorrow would be to take out the 19309 support to gather immense downside momentum. I am changing my stance from neutral to 60% bearish & 40% neutral for tomorrow. If you have any questions - please comment below
NSE:NIFTYShort
by viswaram
Nifty Expiry TradeSetup for 17-08-2023nifty important levels to watch are as follows #Support: 19360 Sell below: 19360 only on 15 minute candle closure below the level. Target 1: 19300 Target 2: 19255 Target 3: 19200 #Resistance: 19500 Buy Above: 19500 only on 15 minute candle closure Above the level. Target 1: 19560 Target 2: 19640 #Demand Zone: 19360-19380 may act as a immediate buying zone, and price may bounce from the region marked in green on the chart. #Supply Zone: 19475-19490 may act as an immediate selling zone, and price may reject from the region marked in red on the chart. #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. Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
NSE:NIFTY
by InvestyourAsset
Morning Mantra - 17th August 2023Dear All, Just as we had stated yesterday about the huge chance of witnessing a bounce back in Nifty, as a result of observing a bullish reversal pattern, named hammer. Likewise the very same was observed yesterday itself. As once again after taking a support at around 19300, i.e., at 19317 Nifty finally gave us a positive closing of 19465. Well for now, we are still in between the 2 important levels of 19550 and 19300. Besides, Today is the day of weekly settlement, so it will altogether be a crucial day. Furthermore, it will somehow be better to wait and watch for a clear cut indication with an either side movement in the Market. Consequently, the Conservative Traders can avoid Trading for Today, in order to be on a safer side. Whereas, the Aggressive Traders can take a chance of Cherry Picking with the stop loss of 19300. On the other hand, even in BankNifty we had got to witness a positive closing of above 43800, i.e., at 43946 yesterday. However, here again we are in between the levels of 44444 and 43800. So, for clarity, it will be better to wait for a clear cut indication with an either movement in the Index. Keep Trading! Keep Investing! Regards, Alok Daiya SEBI Registered Research Analyst
NSE:BANKNIFTY
by alokdaiya
16 Aug ’23 Post Mortem on Nifty - Are the bears still alive?Last session we discussed the support level of 19311, this came into play today and proved quite hard to breach. Today’s intraday low 19317 was hit in the first candle itself after a gap down opening. The biggest negative news to start the day was the higher than expected 7.44% CPI inflation that came after market hours on 14th Aug. Also the SPX and NDQ also closed lower than 1.16 to 1.1% - this also should have influenced the gap down today. The data that came from China - was bad and a leading indicator to what a deflationary, illiquid & rising unemployment looks like. I personally felt we might breach the support and close lower than 19146 today. But the resilience and perseverance shown by the dip buyers (bulls) were phenomenal. We rallied back 163pts ~ 0.85% to close the day in green. Pretty much frustrating if you are a bear. This market is quite hard to crack. The rally also ensured we went above the swing high of last session showing further positiveness. If we look at the 1hr TF - the double bottom @ 19311 stands strong, and the bearish trend line is converging. Till date the tops Nifty has made has respected the trend line - this could also mean the falling wedge pattern could hold true. If yes - its a bullish pattern and we could have a trend reversal soon. The only way bears can regain control is to break the support of 19311 immediately, preferably tomorrow 17th Aug. Seriously I was screening the news to find out why Nifty rallied even in spite of bad news - one event I saw was the “CABINET APPROVES 63000 CR RUPEES FOR EV BUSES SCHEME” tweet. But seriously building an industry on subsidy & incentive is syphoning out tax payer money & destructive to existing industries. I am revising my stance from bearish to neutral, will shift to bearish if 19311 breaks tomorrow for good.
NSE:NIFTY
by viswaram
FASP levels for Nifty 17/08/2023The FASP for Nifty is listed for 17-08-2023. 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.
NSE:NIFTY
by SathishChandrasekaran
Nifty Tradesetup for 16-08-2023Nifty important Intraday levels to watch are as follows #Support: 19400 Sell below:19400 only on 15 minute candle closure below the level. Target 1: 19350 Target 2: 19287 Target 3: 19210 #Resistance: 19480 Buy Above: 19480 only on 15 minute candle closure Above the level. Target 1: 19560 Target 2: 19640 #Demand Zone: 19290-19310 may act as a immediate buying zone, and price may bounce from the region marked in green on the chart. #Supply Zone: 19455-19480 may act as an immediate selling zone, and price may reject from the region marked in red on the chart. #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. Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
NSE:NIFTYShort
by InvestyourAsset
FASP levels for Nifty 16/08/2023The FASP for Nifty is listed for 16-08-2023. 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.
NSE:NIFTY
by SathishChandrasekaran
Morning Mantra - 14th August 2023Dear All, First of all, wish you all a very Happy Independence Week and a Week of Financial Azadi. Furthermore, we are expecting that for this trading week as well we can witness a sideways momentum in the Market. So, we will have to wait and watch for a clear cut indication, i.e., either a breakout of above 19550 or a breakdown of below 19300. Most probably this week can be a crucial one for the Market, as due to a holiday on the 15th of August, this week consists of 4 Trading Days only. So, as of now, it is better to keep Rebalancing the Portfolio and keep following the Cherry Picking strategy, as even in the previous week we had got to observe a lot of stock specific momentum in the Market. Keep Investing! Keep Trading! Regards , Alok Daiya SEBI Registered Research Analyst
NSE:NIFTY
by alokdaiya