Nifty heading for 20k. Daily analysis for 18/07/23Nifty has given a break out of the parallel channel and is ready to touch 20k levels soon.
Bullish trades for positional trade in august series can be carried now.
Index from the first hour was in the bullish move and carried the momentum through out the day and gave a nice move in the closing hour of the market.
Nifty has given a 146 points gain in a day and a flag and pole pattern break out can give nice rally.'
Support :- 19660, 17520
Resistance :- 19875(fib level)
DJI is also trading around the resistance levels and can give a break out today. The break out of the resistance levels can help Indian market touch new highs. Watch the global markets in the morning as trend can be confirmed.
Wait for the price action near the levels before entering the market.
Niftyoutlook
17 Jul '23 Post Mortem on Nifty 130pts up after 11.25Remember how we closed on Friday? — up 110pts in 30mts. I seriously thought we would be seeing some profit booking today. So I carefully watched the opening price levels and exited my long position by 11.10.
All the trading indicators, technicals were saying more bullishness for nifty50. Even the options flow indicated the same. At 11.10 Nifty was looking bullish & banknifty was showing only sideways movement.
2 major global news hit the market
China’s lower GDP
Russia not extending the Ukraine grain deal
On a normal day, similar news could paint the markets in red & I did not want to take a risk, that is why I sold off the long position by 11.10 and waited on the sidelines.
It turned out to be a disaster, nifty went up another 129pts ensuring my position would have returned 750% returns if I hung on. The rally was kick started by Reliance & then HDFCBK joined the party with impressive Q1 results.
The chart, moving averages & other technical indicators are all showing immense bullishness now also. However I wish to stay out of this party for this expiry week.
NIFTY-- Resistance Becomes Support ??The NIFTY index again broken the ATH...
multiple times break out above ATH and it's reversal....
so what happens in nifty is...the trend is bullish to Sideways...
it is also moves in a channel...
price faced resistance multiple times @19500-19520 zone...
if tomorrow price acts as a support...it again moves up...
if price again falls below price is continue its movement upto the trendline...
we have trendline support as well...until price breaks this trendline will be on the buy side...
if trendline failed to acts as support,the same zone is acts as resistance...
sellers takes price again to bottom side...
All this is pre and post market analysis...we cannot assume anything what happens...
will see on live market what's happening...
If this post is helpful please give me a like...
thank you guys for supporting me...
Nifty trade Setup for 17-07-2023Nifty Important intraday levels to watch for 17-07-2023
#Support: 19520
Short if candle closes below 19560 for scalping only with a tight stoploss and agressive short if candle closes below 19520
#resistance: 19595
Long if candle closes above 19595
#Targets on downside after break of support.
Target 1= 19420
Target 2= 19370
#Targets on upside after break of resistance.
Target 1= 19660
Target 2= 19700-710
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Queries will be answered in comment section.
Morning Mantra - 17th July 2023Dear All,
Finally Nifty took a breakout of above 19550 level on weekly basis , which indeed is a very good sign as of now.
Wherein, no doubt IT & Metal Industry have somehow contributed in this uprise. Moreover, we are now expecting the same from few other sectors as well, in the upcoming week.
As of now, we are still with our words that portfolio rebalancing and Cherry picking will be a good idea here, with the stop loss of 19300 on immediate basis and 18700 on medium term.
Furthermore, since the Result season has just started, therefore we have to remain a little cautious here.
Happy Trading!
Regards,
Alok Daiya
SEBI Registered Research Analyst
Consolidation Break out NIFTYThe consolidation break out was once rejected but the market to breakout once again and give a closing above 19500
As long as market is above 19500 it's bullish. break of this level will confirm failure of break out.
All levels and analysis is only for educational purpose
NIFTY moving in a bull channelNIFTY has been creating new all time highs multiple times this week . Now moving in a parallel channel creating higher lows and higher highs . 19350 for the downside becomes a crucial swing level with price expected to make highs once again after some correction to the lower trendline.
Cheers !
Nifty Analysis Explained in Most Simple Wayhii all..
Greetings!
I have prepared the Nifty EOD analysis the most simplest way I can. I hope for all its easy to understand.
Be careful in trading nifty now, as it has entered in over bought zone.
Important Things
1. This is only for educational purposes only.
2. Never over trade.
3. Always keep Stop Loss.
4. Trade in limited quantity.
5. Taking a small loss is better than wiping up your whole capital.
I hope you found this idea helpful.
Please like and comment.
Share with Your Friends.
Keep Learning,
Happy & Safe Trading
Nifty trade plan for 17-07-20231. Nifty made new ATH on friday with very strong closing
2. Market has no resistance now
3. Suitable trade set up in only buy on dips from intraday to positional trade
4. Trade only at support areas with 15-20 points SL and reward upto 1:4-5 RR trade set up for intraday
5. No random trading
14 Jul '23 Post Mortem on Nifty - green 1hr candles after 10.30If you had witnessed yesterday's 13.15 hourly candle that took out 95pts ~ 0.49%, you would not have guessed Nifty will rebound today. At least I did not expect.
I was having a bullish bias on nifty50 which you can understand from the report yesterday, but the bullish PUT spread carried forward from yesterday had an unfavorable risk reward. I made up the mind to exit this credit spread at a decent level today & re-enter at a favorable ratio.
At 15.05 I exited the 19500/19400 PE at 60.9/33.4 for a marginal loss. And after that we had another 87pts rally ~ 0.45%. Not only I exited at a loss on a profit that would have gone immensely profitable had I hung on, I did not get a pull back to re-enter.
Today's rally mainly spearheaded by NiftyIT up 4.45% was definitely an event to watch. Nifty opened gap up but was showing a negative bias. We had a fall of 62pts till 10.20 after which it turned around and was grinding up slowly.
Banknifty on the other hand was falling continuously and it was evident its not going to support nifty today. But right at 14.45 some magic happened & banknifty turned around sparking a newfound momentum to nifty50 as well.
Not only nifty pushed through the 19500 level, but hit a new ATH of 19595 today. ie a total intraday swing of 161pts.
Further upside movements will be faced with very little resistances and its the easiest path for Nifty. Well that is what most traders will think and position for. I would personally like to wait out this trend and re-enter when the levels are bit for comfortable for me.
#NIFTY Intraday Support and Resistance Levels - 14/07/2023Nifty will be gap up opening in today's session. After opening nifty sustain above 19460 level and then possible upside rally up to 19580 in today's session. in case nifty trades below 19420 level then the downside target can go up to the 19300 level.
Morning Mantra - 14th July 2023Dear All,
Yesterday was another day of witnessing a major supply from upper levels in Nifty. After which, we can now observe a red candle on the chart once again.
Today, being the last trading of the week, we have to specially mention about the weekly body pattern, formed until yesterday, which is like a Doji formation.
So, observing a Doji after a shooting star on weekly basis is somehow indicating the fight that has been going on between the bull and the bear.
Altogether, this is a clear indication that we now need a weekly closing higher than that of the previous week.
Therefore, we are still with our words, that for a clear cut indication, we now need to witness either a fresh breakout of 19550 or a breakdown of 19300 from Nifty.
Until then, continue rebalancing your portfolio and keep following the Cherry picking strategy.
Regards,
Alok Daiya
SEBI Registered Research Analyst
Nifty - Range Boundhii all
Greetings!
it has been seen that nifty has been in kind of a range from 3 Jul 23 to 13 July 23.
Range is 19250 - 19570
Currently my view on nifty is neutral.
nifty is following a trend line and the pace is very slow. Trade with caution now nifty also seems to me in a little over bought zone.
Thanking You
Important Things
1. This is only for educational purposes only.
2. Never over trade.
3. Always keep Stop Loss.
4. Trade in limited quantity.
5. Taking a small loss is better than wiping up your whole capital.
I hope you found this idea helpful.
Please like and comment.
Share with Your Friends.
Keep Learning,
Happy & Safe Trading
Nifty daily analysis for 14/07/23.Indian market are forming new ATH but are unable to sustain at the higher levels. On the daily time frame, the market has formed a red candle at the higher levels and is still respecting 19400 levels.
Market opened gap up and gained an up side momentum in the initial hour. The market consolidated on the higher levels and there was a sell in the second half losing 150 points from day high.
On the hourly charts, market is not closing above the 20 ema. Though, the market tried to hold the upper level but seller took charge and a trending market was there.
Nifty is respecting a trend line and today also took support from it and recover.
Support :- 19400, 19320
Resistance :- 19520-560
New All Time High has been formed but still market trend is vague. If market start trading below the trend line or above the previous day high, a trending market can be seen.
Wait for the price action near the levels before entering the market.
Morning Mantra - 13th July 2023Dear All,
As Nifty made a low of 19361.75 and a high of 19507.70 yesterday, it is very apparent how Nifty is still confused between the levels of 19300 and 19550, just as we had stated yesterday itself.
Now as the Result season is on, so it is better to be stock specific.
Besides, since today is the day of weekly settlement, so we also have to be quite cautious here, and have to wait for an either side movement in Nifty, i.e., either a breakout of 19550 or breakdown of 19300.
In the meanwhile, keep following the Cherry Picking Strategy with the stop loss of 19300 and 18700.
Regards,
Alok Daiya
SEBI Registered Research Analyst
Nifty Trade Setup for 12-07-2023Nifty Important intraday levels to watch for 12-07-2023
# Support : 19420
Short if candle closes below 19420
# resistance : 19460
Long if candle closes above 19460
#Targets on downside after break of support.
Target 1= 19360-19350
Target 2= 19300
#Targets on upside after break of resistance.
Target 1= 19500-19525
Target 2= 19585
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.
#niftyGood morning! As of July 12th, there is no significant difference compared to the last session. The global market is showing a positive start with moderately bearish market sentiment. It might open with a gap-up. If it sustains, we can expect the continuation of the pullback. after that if it rejects the immediate resistance zone, it will turn into a range market for correction. Conversely, if the initial market experiences a sharp decline, then the correction will continue.
Morning Mantra - 12th July 2023Dear All,
After observing yesterday’s Market, we can see that the fight between the bull and the bear is still on.
So, in order to witness a further uprise, we need to witness a fresh new closing from Nifty. Where, on the other hand, if Nifty breaks the level of 19300, then it can take a pause at around the level of 19200.
Overall, we now need to witness an either side movement from Nifty, i.e., either a breakout of the 19550 level, or a breakdown of 19300 level.
So, until Nifty is trading between the levels of 19550-19300 , we can keep Rebalancing our Portfolio, along with being a little cautious here, as the season of Results has started.
Last but not the least, it is being observed that most of the stocks are either at their fresh new high, or are trading near their breakout levels. So, it is indeed a good time for some Cherry picking, here.
Keep Trading!
Keep Investing!
Regards,
Alok Daiya
SEBI Registered Research Analyst
NIFTY Trend Analysis | Ideal Levels for Long | Trade PlanNIFTY Trade Plan
Logic & Rational
1. Overall trend is up & made all time high of 19K +
2. Good levels are identified for long position
3. Expected at least 2:1 reward ratio
4. Big move already happened at marked levels
5. Wait for the price to reach the entry level
Trade Idea & Setup
View: Long | Bullish
Entry - 19026, Target - 19443, Stop Loss - 18817
Plan Your Trade! Trade Your Plan!!
FASP levels for Nifty 12/07/2023The FASP for Nifty is listed for 12-07-2023. 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 AnalysisObservations::
price has broken the strong demand @19375-19350 range strongly...
we have observed a trendline forms by breaking the demand zone....
If tomorrow trendline acts as resistance will observe a fall towards the bottom side gap may fills...
If price breaks the trendline and gives us retest and failed to make a new low below 19300, then will go for buying upto ATH.
Note : After break of trendline price may also fall below...
fake out at trendline may also possible...
At ATH we observed that a supply zone,if resist price again falls below...
untill price breaks the supply zone and retest of any previous zones will go for buy.
If price fills the gap on bootom side...
we will go for buy on trendline break and retest...
Morning Mantra - 11th July 2023Dear All,
So, yesterday we had observed how Nifty took a pause, after a beautiful rally.
For now, it is being expected that until Nifty is above 19200, it can somehow show us a further rally in the Market.
So, in such a situation, with the stop loss of 19200 and 18700, be stock specific and keep following the Cherry picking strategy at this new territory.
Keep Trading!
Keep Investing!
Regards,
Alok Daiya
SEBI Registered Research Analyst
Nifty daily analysis for 11/07/23.Nifty today consolidated and remained in a 100 points range. The market tested the lower levels of 19330 and recovered from the levels.
Market on the daily time frame, has formed an inside candle and has closed below the 20 ema on the hourly charts.
It is holding and recovering from the lower levels which signal a positive move in the coming days.
On 15 minute charts, market constantly traded around the 20 ema and ruined the option buyers.
Support :- 19330, 19240
Resistance :- 19430, 19500
Wait for the price action near the levels before entering the market.