An engulfing candle on the weekly close is good for the index as it has closed near the new high. The coming week can give a bullish move too. It has started trading above the resistance level of 21800 and closed somewhat 100 points higher after the break out. Major support levels :- 21720, 21600 and 21500 Still market is trading above the break out, either it...
As we discussed yesterday, "it will reach 22100, and then it will face resistance there". If we look at the chart data right now, It has touched 22100. also, right now, it's trading at the resistance trendline, which will provide resistance from here. According to OI data, PCR = 1.51, which is super bullish. On the upside, there is no resistance. All levels have...
Today Nifty opened with a gap up around 21790, in morning we saw fast dip towards 21725 which was our buy level. Nifty took support around this level, started going up and we saw good rally on Friday. For tomorrow, if Nifty sustains above 21930 we will see fresh buying towards 21970 and above marked levels. On the down side, Nifty has to break 21790, below that...
As we discussed, NIFTY would be "Sideways unless it breaks the range to either side." on Friday, it broke to the upside and gave a really nice bullish rally. People who Bought CE or sold PE might have made good money. For tomorrow all important levels have been marked on the chart. If we look right now, it's trading ALL-TIME-HIGH, which might lead to a 22,000...
As we discussed, Nifty has been moving in a sideways range-bound market in the range of 21500 and 21750. also, today, it took very nice support from 200 EMA and activated buyers. But once it's moving in the range, it could not be better for option buyers. Right now, the only you can do is option selling with IRON CONDOR. If we look at OI, we can see PCR = 0.7,...
"Good morning, friends! Here are the directions for January 10th: The global market sentiment remains moderately bearish, supported by the Dow Jones, while our local market sentiment reflects a similar trend. It might open with a neutral to slightly gap-down start, as indicated by Giftnifty showing a -45. Nifty exhibits a triangle structure. If it finds support...
The FASP for Nifty is listed for 10-01-2024. 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...
As we discussed, Nifty has been moving in a sideways range-bound market in the range of 21500 and 21750. right now, it is on a support line. If it breaks to the downside, it can achieve a nice bearish target. But as we can see, it had formed an insider candle in the time frame. According to the OI data, PCR is 0.65 overall. The market has shown a bearish structure...
As we discussed nifty yesterday, It could not break to the upside, so entry didn't activate, but it broke to the downside pattern today. Also, if we look into the market, OI data indicates PCR = 0.7, which is bearish. Also, because the market is in the support line, it is still inside the channel. If it breaks the range to the downside, sellers will get activated,...
Overview: The market is currently experiencing a bullish phase in both the daily and weekly time frames, with the current trading level at 21700. In-depth analysis on the 75-minute time frame reveals a strong support level at 21500, corroborated by the SMA 50. This suggests a potential consolidation between 21500 and 21800. While the overall sentiment is bullish,...
As we have been discussing the NIFTY in the channel, It performed really well. But now it's forming a new pattern that can be seen in the chart. Nifty has been showing a very bullish signal as it has been super bullish in the last hour today. Suppose we look into OI data PCR = 0.88, which is assumed to be mild bullish. Also, it has been taken support at the...
As we have been discussing the NIFTY in the channel, It performed really well. But now it's forming a new pattern that can be seen in the chart. Nifty has been showing a very bullish signal as it has been super bullish in the last hour today. Suppose we look into OI data PCR = 0.88, which is assumed to be mild bullish. Also, it has been taken support at the...
Disclaimer: This analysis is for educational purposes only, and I'm not a SEBI registered analyst. If you found this analysis helpful, I encourage you to like and share it. Your observations and comments are also welcomed below. Your support, likes, follows, and comments motivate me to consistently share valuable insights with you. For more technical analysis and...
Nifty is currently sitting on the support of 38.2% fib level and it is a good support for the index. This is the third time the support is being tested. If there is a break down of the levels 50% anf 61.8% levels can be tested on the expiry day. Major support levels :- 21420, 21300 If there is a flat or gap up opening wait for the bearish price action as market...
As we have discussed, the Nifty in the morning analysis fell quite a few points with a nice selling volume. Right now, Nifty is moving into the bearish channel and is supposed to complete it. It will move to the 200 EMA, and it might take support there. According to the OI data, PCR 0.62 means it's very bearish. I am expecting it to fall to 200 EMA. Reason: ...
Regarding Nifty: If it opens with a gap down and breaks the demand zone (21533 to 21518), then we can expect a continuation of correction with minor pullbacks. On the other hand, if it finds support within that range as per the structure, it might experience a minimum 38% Fibonacci retracement.
As we have discussed, Nifty has been moving upwards in the channel. It was trading up on the channel. But yesterday, in the last 30 minutes, the fall was very strong. It might be the clear-cut signal of the Bearish market ahead in the week. Reasons : It has been traveling in the bullish channel side. The fall was sharp, indicating the power for bears is...
Greetings, fellow traders! As we bid farewell to 2023 and welcome 2024, I want to wish you all a very Happy New Year. 🎉 What a year it has been for us! We have witnessed some incredible highs and lows in the market, and we have learned a lot from our successes and failures. We have also grown as traders, honing our skills and strategies, and adapting to the...