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Morning Mantra - 4th July 2023Dear All, As per the chart of Nifty, the Index is currently trading in an open territory. Where it had also made a New High of 19345, yesterday, along with a closing at the upper level. So, as of now, considering these factors, specially the fact that Nifty is trading in its all new horizon now, we are still our words to remain cautious here, with the following Cherry picking strategy and Portfolio Rebalancing, with the support of 18700. Moreover, the way Nifty has been performing since the last 4 days, signifies that we should enjoy the Waves, but we should also be cautious in the time of High tide or low tide. Since this is the situation of High Tide, therefore it is better to be careful as of now. Happy Trading! Happy Investing! Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
03 Jul '23 Post Mortem on NiftyAnother island formation by N50, gap up opening of 68+ points and then a rising with strong momentum. I was eagerly waiting for a pullback to take some contra positions. Although we had a small retracement from 10.30 to 11.20 approx 78pts - there was no follow-through. So the only viable option trade was selling the PUTS. This is the 4th consecutive day where N50 is jumping gaps & never closing them intraday - pure island formations. Usually when we have multi year breakouts & sentiment shifts we get to see consecutive breakaway gaps. India VIX had an intraday LOD to HOD swing range of 11.4%, it was hovering between 8 to 9% higher than the previous working day. Quite unusual to have high VIX when the markets are powering through nil resistances. I may be the only analyst who feels an interim top is getting formed at the current levels give or take 50–80pts. The rationale being, we have run out of gas. If the momentum has to continue - it has to come from NiftyIT and it has to come fast. We cannot stay at these levels without pure momentum, otherwise the bears will start their game! 1hr TF The island formations in blue color. The area that I personally feel may be an interim top 19334. Again I am okay to be proven wrong if we have further island formations! Even though I might feel a top is getting formed, I have not taken any bearish bets nor should you! As an option trader it is best to react to the market once it makes its move rather than predicting it.
NSE:NIFTYShort
by viswaram
Nifty daily analysis for 04/07/23.For the last 4 trading session, market has been giving gap up and showing positive momentum. On the daily charts, market again has given 130 points move. The market remained in the first hour candle and gave close near the day high. There are less opportunity for intraday traders as the gap up take away the move. The time is for the positional and swing traders. On 15 minutes chart, nifty took support from the 20 ema and formed a box consolidation. Support :- 19260, 19000 Resistance :- 19340 Market are moving in the first half and is consolidating in the last. Small target should be taken as big move are difficult after a gap up. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Morning Mantra - 3rd July 2023Dear All, We can start this New Month on a positive note, as finally Nifty is at its Fresh New High as per the Daily, Weekly and Monthly Chart Basis. On the Monthly basis, we have observed the beautiful effect of a Morning Star Doji pattern which was seen on the chart of Nifty in the Month of April. Consequently, both May & June had turned out to be positive for the Market. As even our 2 important stated levels of 18888 and 19200, were achieved by Nifty in back to back 2 days. Now, on the basis of Daily chart of Nifty, we can say that these rapid achievements of Nifty, is somehow indicating the need for cautiousness . Even though the bulls have made a beautiful victory in the battle with the bears. It will be better to avoid being very aggressive in the Market as of now, since Nifty is at its fresh new high. At this time, it will be favourable to be cautious, to be stock specific and to keep Rebalancing the Portfolio , as most of the stocks are at their Neckline. Last but not the least, we can now uplift our level of stop loss from 18400 to 18700, and follow the Cherry picking strategy with the support of the same. Keep Trading! Keep Investing! Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTY
by alokdaiya
Nifty Technical Analysis: Will Nifty Bounce Back?On December 1, 2022, Nifty reached an all-time high of 18,887. However, since then, it has experienced a downtrend. On March 20, 2023, Nifty hit a low of 16,828, which is nearly an 11% drop from its peak within just 109 days. Fortunately, Nifty has recently started moving in an uptrend channel, and on June 28, it broke its previous all-time high. As of June 30, 2023, the closing price of Nifty is 19,189. Now, I anticipate that Nifty will retest its breakout level in coming days, which is around the 18900 - 18800 range. This level, which was previously a resistance, is expected to act as a support level going forward. Additionally, Nifty should find support from its bullish trend line within the bullish trend channel. Remember, trading is not just about profits and losses—it's a journey that requires determination and perseverance. 💪💰 ✨ Key Terms Explained ✨ All-Time High: The highest price level that an asset has ever reached. Downtrend: A series of lower highs and lower lows, indicating a bearish market direction. Uptrend: A series of higher highs and higher lows, indicating a bullish market direction. Breakout: When the price surpasses a significant level of resistance or support. Support Level: A price level where buying pressure is expected to prevent further price decline. Resistance Level: A price level where selling pressure is expected to prevent further price increase. Trendline: A line drawn to connect multiple support or resistance levels, showing the overall trend direction. Please note that this analysis is purely for educational purposes, and I am not a SEBI registered analyst. If you found this analysis helpful, please consider liking it and leaving your observations in the comments section. Your feedback is crucial in keeping me motivated to consistently provide valuable content. Thank you for your support, likes, follows, and comments. To stay updated with more articles and trade setups, feel free to follow me on TradingView: in.tradingview.com
NSE:NIFTYLong
by AfnanTAjuddin
2
Nifty weekly analysis for 03/07/23.Nifty on the weekly time frame has given a 500+ points or 2% up move. It has formed a bullish marubozu candle. Market has been continuously giving gap up and movement for 3-4 days. There was a good movement after testing the 20 ema, on daily time frame. Nifty is trading around 19200 levels and forming new ATH. It can give momentum to touch 19500-700 levels. Bullish movement is market is giving good returns and can continue to touch higher highs. Market is in the bullish movement and is making higher high and higher low formation. A perfect bullish cycle is on. Support :- 19000, 18890 Resistance :- 19280 (fib levels). The market are moving in bullish move and no actual resistance is there in the charts. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Nifty Weekly Analysis for Jul 3 - 7🔍 Analysis on Nifty for the Upcoming Week 🔮 Jul 3 - 7 The Nifty index seems to exhibit a bullish trend in both long-term & short-term as well, according to the market structure. 📈 Key Levels to Monitor: In the upcoming week, it's important to monitor key levels 18465, 18645, 18890, 19190, & 19200. 🔎My outlook: The outlook for the upcoming week’s trading suggests a non-directional view (Sideways). 📈 Bullish Scenario: If Nifty breaks out above the significant level of 19200, supported by a strong and clear daily candle, it could indicate a bullish market trend. 📉 Bearish Scenario: However, if Nifty breaks down below 18650, confirmed by a strong and clear daily candle, it may signal a decline towards the 18465 level. 📊 Support Level: As long as Nifty sustains above the support level of 18650, the market can be viewed as bullish.
NSE:NIFTY
by venunomula
Nifty 50 Weekly Market Outlook: July Week 1, 2023 On Daily charts, we observe that a new channel trendline has been adjusted after previous week’s rally and a new bandwidth line between the lower and upper bound has been redrawn too. Last week rally is breakout above bandwidth resistance ( Support point now: 19,042) which will act as a first support moving next week. On higher levels we can see a rally upto 19,317 which is the channel resistance point, although less likely on grounds that Weekly charts show rally to ATHs has been on a declining volume and rising prices since last week of May 2023, indicative of weak price action and definitely after breaching a psychological resistance we expect a profit booking from current levels. So outlook is to watch till 19,317 but expect profit booking simultaneously. Lower levels stay intact at 19,042 as first resistance which is centre/bandwidth point of channel and a breach below this point will push the index to 18,896 undoubtedly. There’s a consolidation between 18,734 – 18,896 which we expect to hold index in case of further drawdown.
NSE:NIFTYShort
by chandakpulkit
1
30 Jun '23 Post Mortem on Nifty50Nifty opened gap up at 19076 immediately hitting an all time high, that was just the start. Most of the traders were expecting N50 to close the gap and fall to the trading range of the previous day. That did not happen, instead N50 was firing on all cylinders. The major reason for this thrust in rally came from NiftyIT which ended +2.5% today. IT's strength overshadowed almost every other sector - the result a perfect rally for N50 today with strong closing. The new ATH is now 19201.7. Just imagine we had a 200pts swing once the magic number of 19000 was broken in the last session. Most likely few of the participants who missed out would have come back with loads of cash to deploy. Is it a good time to have a FOMO feeling - I am not quite sure! Since there are no available resistance levels - its a free hand for N50 to play boss. The only way to restrict N50 would be for the big boys to start writing CE shorts. The problem is - who will have the courage to short sell? Since its a breakout rally & the momentum could get so strong to wipe you off the feet. Chances are the bears will have to wait for some external triggers as the earnings may not disappoint. 1hr TF The last 3 sessions have been highlighted, if you notice we had island gaps in all 3 indicating a sentiment shift. The first support level has been marked at 18880 now below which N50 could get back into the range-based trading.
NSE:NIFTY
by viswaram
Morning Mantra - 19th June 2023Dear All, Indeed the previous week was somehow fantastic for the Nifty lovers, as we had witnessed a very positive closing, on the Day as well as Weekly basis at a New high, i.e., at the level of 18826. Now Since, we are quite near to a Fresh New High, so once again we are very optimistic for this Week, with the support level of 18400 on closing basis. Where if Nifty gives a closing of above 18888 this week , then we can witness a further New High of around 19200 in the upcoming days. And it is only then, that we will trail our stop loss to the upper level. Until then, keep Rebalancing your Portfolio and keep following the Cherry picking strategy. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
Morning Mantra - 30th June 2023Dear All, So finally we have witnessed a beautiful closing of above 18888, i.e., at 18972 in Nifty, on the previous trading day of this week. So now our next target is of 19200. Wherein, as per the current scenario we are very much optimistic on Nifty for achieving this Target by today itself. Moreover, as every event has two sides, i.e., a positive and a negative one. So, on the one hand, we can achieve our expected target of 19200 by today. On the other hand, it is very necessary for us to become cautious here at the upper level. As a Fresh New High, can somehow trigger a supply pressure here. Last but not the least, just as we had stated earlier, upon witnessing a closing of above 18888, we can now uplift our stop loss levels from 18400-18200 to 18700-18400, and follow the Cherry picking strategy with the support of the same. Regards , Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
Nifty daily analysis for 30/06/23.Nifty, finally, tested the 19k levels but couldn't sustain above it. After the gap up opening above 18900 it travelled and touched the higher levels. The index was strong as compare to the other indices and closed near the higher levels. On the hourly charts, there is a flag and pole pattern. As market consolidated in the second half of the trading session. Market in the last two sessions has given a move of around 300 points. And market while moving upward has constantly giving gap up and momentum. Support :- 18890, 18800 Resistance :- 19000 Nifty has also formed a new ATH and touched the round figure level. Market has given a nice bullish move and might take a halt near the higher levels. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Possible Elliott wave counts on hourly time frame of NiftyHello Friends Here we had shared possible Elliott wave counts on hourly chart of NIFTY, in which we can clearly see that currently we are in impulse structure and as per counts we can say that after bottom of June 2022, we have started fresh impulse up move, in which we had completed wave (1) and (2) and now possibly we are in wave (3), which can be at least equality with wave (1) so estimated target may be 19748 where 5 of (3) may finish, currently we are in 3 of (3) and inside 3, we are in (v) of 3 of (3). 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. Some significant snapshots are shared below, please go throughout. Thanks RK💕 Overall wave structure since bottom of June 2022 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...! 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:NIFTYLong
by RK_Chaarts
5
Morning Mantra - 28th June 2023Dear All, So yesterday, we saw the impact of a Doji pattern, along with the previous candle, altogether called as the Cross harami pattern formation. Where after a weak opening yesterday, Nifty made a beautiful rise in the second half. Now, we are once again very close to our Fresh New High in Nifty. As we are now at 18817, so above 18888, we can see a further upside in the Market. With this, I hope that we can celebrate this festival vibe with Nifty’s New High. So, on this positive note, stay stock specific and keep Rebalancing your Portfolio, as of now. Keep Trading! Keep Investing! Regards , Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
Morning Mantra - 27th June 2023Dear All, Just as we had stated yesterday itself, about receiving a signal from Nifty, via the formation of a Dark Cloud Cover on its weekly chart. Likewise, we did observe a selling pressure in the Market till the second half. Although in the later half, we did also witness some recovery in Nifty. Consequently, we can now observe the formation of a Cross Doji pattern on the Day chart of Nifty. Which is somehow indicating the probability of witnessing a reversal Today. Indeed we can once again become optimistic regarding this Reversal, as it might take Nifty to its new high . However, as stated yesterday as well, this week will somehow be very crucial for the Market, as we have only 3 more trading days to go in this week. Last but not the least, with the stop loss of 18400 on closing basis, we are still bullish on Nifty. Where in the meanwhile, be stock specific and keep Rebalancing the Portfolio. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
Morning Mantra - 16th June 2023Dear All, Just as we had stated yesterday about considering the Day as a “No Trade Day” , Likewise we did also witness a lot of volatility in the Market yesterday . Wherein, a major supply pressure was witnessed in the Banking Sector. Therefore overall, a tough fight between the bull and the bear, is being observed here at the upper levels. A positive buying number from FII on the one hand, and on the other hand, the supply pressure that is being observed in the Market is somehow indicating that the Market Players are Rebalancing their Portfolio here. So, be cautious and keep rebalancing your portfolio at the current levels. Last but not the least, the Market Sentiments are still positive for a New High, with the stop loss of 18400. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya