Nifty & Bank Nifty Analysis For 28 May 2024In this video, we'll discuss about Today's Market Movement and Tomorrow's Analysis in Nifty, Banknifty and other segments too.
Whether you're a seasoned trader or just starting in the stock market, this analysis will help you in Learning about Market. Let's get right into it!
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Disclaimer : All views and charts shared in this video are purely for knowledge and information purposes only. Trading is Very Risky Business and it should only be done with proper Knowledge. It is very important to do your own analysis before making any investment based on your own personal circumstances.
Niftyprediction
NIFTY prediction for tomorrow 28 MayAs we discussed, Nifty has completed its 2nd wave and touched the mentioned target.
If we look at the chart now:
The market is trading in a heavy supply zone. Also, in the second half of today, the market had a huge PE windup. After this huge momentum, the market needs some consolidation to move on either side. There was a huge volume spike that shows the market is not yet ready to break 23000 levels.
All important levels have been marked at the chart.
If we look at the OI data:
PCR = 0.89, which has fallen from 1.28. shows a good PE wind-off. The market might take some consolidation in the range 22800 - 23100. 23000 is still the maximum amount of pain in the market. sufficient CE and PE are writing both sides. But CE is freshly written, which indicates bears are slowly increasing their position in the market.
I expect the market to go sideways or bearish.
Reasons:
RSI < 50 falling from the upside shows a good reduction in the bull's strength.
EMA(13) > Price > EMA(50, 200), which indicates an indecisive or rather sideways market.
The market is still making HH & equal low, which indicates a reduction in bull power. If it makes a lower low, the market will have a good fall.
PCR = 0.98 indicates bullishness, but this has fallen from 1.34, which shows lots of profit booking on the upside.
Price < VWAP shows that a weak market structure can lead to a bearish or sideways market.
Verdict : Sideways or Bearish
Plan of action : Sell 23000 CE and 22800 PE (Hedge it with 10/-)
Note: Exit CE if nifty breaks 23000 to the upside & Exit PE if it breaks 22800 to the downside. But right now, there are more chances for the market to be sideways or bearish
Nifty on Radar - 27 MayNifty is likely to remain sideways or rangebound in the near-term with heavy call and put writing around the 23,000 mark
CMP - 22,957.10
Key Support : 22,750 - 22560
Resistance : 23,050 - 23,150
Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
Nifty Support & Resistance Levels for 27.05.2024As Nifty approaches the psychological mark of 23,000, we might see some profit booking. It's important to remain cautious leading up to the major event on June 4th (Election Results).
Support Levels:
Nearest Support: 22,744 - 22,769
Far Support: 22,577 - 22,623
#Nifty directions and levels for May 27th.Good morning, friends! 🌺🍬 Here are the directions for May 27th:
The global market is maintaining a bearish sentiment based on the Dow Jones, while our local market suggests a bullish trend. We might see a neutral to slightly gap-down start, as indicated by GiftNifty, which shows a decrease of 10 points.
First, let's look at the bias:
> Whenever consolidation forms after a solid structure, the market may follow that direction. The current structure indicates a bullish sentiment.
> The major weightage stocks (HDFCBANK and RIL) both have solid bullish candles, so if this continues, the index may also continue the rally.
Nifty has consolidated after a sharp rally, and today, GiftNifty is also indicating a neutral start. This suggests that the consolidation may continue for a bit. However, if the initial market takes a pullback, we can expect the rally to continue. According to the wave structure, it could be a sub-wave 5. This is a distribution wave, so it will reach the level of 23097 with less volume. However, if the pullback candle is a solid, long green candle, we could expect the level of 23197.
Alternatively, if the initial market takes a correction, it could continue the correction of the 4th sub-wave, which is a consolidation wave. It may correct to a maximum level of 38%. If it finds support there, we could expect a bounce back.
#NIFTY Intraday Support and Resistance Levels -27/05/2024Nifty will be gap up opening in today's session. After opening nifty sustain above 22990 level and then possible upside rally up to 23110 level in today's session. in case nifty trades below 22930 level then the downside target can go up to the 22810 level.
24 May 2024 - A Pause after a run, stance is still bullishNifty opened inline and traded in a short range, this came as a pause after the range expansion that came on 23rd. Since there are no resistance levels as we are at ATH, no one could guess with accuracy what will be the top.
Our stance remains bullish and will go neutral only if 22779 is broken.
Predicting Nifty direction looking at India Govt 10Y Bond YieldWe can see an interesting correlation between t NSE:NIFTY1! he and the $TVC:IN10Y.
See the charts. The top chart is showing India Govt 10 Yr Bond Yield (IN10Y) and the below chart is current Nifty Future.
The IN10Y is making lower highs while our Nifty is making higher highs.
In the chart with purple color mentioned the direction. We can see whenever the IN10Y is gong up, Nifty is going down and vice versa.
The purpose of the study is to understand the recent Reserve Bank of India (RBI) highest ever dividend to Indian Govt. As we can see the IN10Y is negotiating it's long term support of around 7.00/6.95 level. (695-700 basic points, bp). And we can see the Nifty is at ATH (23K).
Due to the high dividend of RBI naturally the Govt needs less money to be borrowed from money market through CGs and t-bills. Hence it will push the demand for the existing bonds higher, thus resulting a lower bond yield. If it breaks the 6.95 level in Weekly chart, it will see more downfall, resulting more upside to the Nifty.
Enjoy the show.
NIFTY Intraday Trade Setup For 27 May 2024NIFTY Intraday Trade Setup For 27 May 2024
Bullish-Above 23040
Invalid-Below 22990
T- 23210
Bearish-Below 22900
Invalid-Above 22950
T- 22745
NIFTY has closed on a strong bullish sentiment with 2% gain last week. Index broke the weekly range of 22800 and 21800 in the upside. On 23 May EOD we discussed that index target can be set to 23850 zone as per FIB extension and range calculation. Before moving towards 23850 zone there can be small pullback or consolidation so 23050 will be trigger point for upside rally. Below 22900 pullback move can be triggered.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 23040 then we will long for the target of 23210.
For selling we need a 15 Min candle close below 22900. T- 22745.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
==========
I am Not SEBI Registered
This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
Nifty levels and zones for coming week NSE:NIFTY
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between zones.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
Nifty 25k soon!Expect NIFTY to test 25,000 levels in coming few weeks .
NIFTY on weekly gave a rising wedge upside breakout which is a low probability event .
Low probability events lead to trapped buyers/sellers on both sides.
Price usually reached the approximate height of the pattern where both will enter/exit new positions.
Cheers @piyushrawtani
Nifty & Bank Nifty Analysis For Next Week 27 May-31 May 2024In this video, we'll discuss about Market's Last Week Movement and we will try to analyze Coming Week's probabilities in Nifty, Banknifty and other segments too.
Whether you're a seasoned trader or just starting in the stock market, this analysis will help you in Learning about Market. Let's get right into it!
✅I hope you liked the analysis. Be sure to hit that LIKE.
👍Like | 💬Comment | 👥Share
Disclaimer : All views and charts shared in this video are purely for knowledge and information purposes only. Trading is Very Risky Business and it should only be done with proper Knowledge. It is very important to do your own analysis before making any investment based on your own personal circumstances.
#TheStockMantra #MarketAnalysis #LearnStockMarket
#NIFTY Intraday Support and Resistance Levels -24/05/2024Nifty will be gap up opening in today's session. After opening nifty sustain above 22990 level and then possible upside rally up to 23110 level in today's session. in case nifty trades below 22940 level then the downside target can go up to the 22820 level.
#Nifty directions and levels for May 24th.Good morning, friends! 🌺🍬 Here are the directions for May 24th:
The global market is showing a bearish sentiment based on the Dow Jones, while our local market suggests a super bullish trend. We might see a neutral to slightly gap-down start, as indicated by GiftNifty, which shows a decrease of 80 points.
Nifty has broken its all-time high with a solid structure. Structurally, the rally may continue, but GiftNifty indicates a negative start. If the market opens with a gap-down, we can expect a minor correction of up to 38% to 50%. After that, if it finds support there (38 or 50%), it may continue the bullish trend with some range-bound movement between the previous high and the upcoming low.
Alternatively, if the gap-down doesn’t sustain and there is an initial sharp pullback, the rally will likely continue with some minor consolidation.
Short Term Trading Idea in M&M for > 10% UpsideHi,
NSE:M_M has given a Bullish Flag Breakout on Daily charts with very good volume.
MACD is also on the bullish side on Weekly and Monthly time frames. RSI is also on the bullish side on daily, weekly and monthly time frames.
In the current market scenario, I am expecting that the bullish momentum will continue.
Complete price projection like entry, stop loss and targets mentioned on the charts for educational purpose.
Don't Forget to Follow me to get all the updates.
Please share your feedback or any queries on the study.
Disclaimer: Please consult your financial advisor before making any investment decision.
Short Term Swing Trading Idea in Kabra Extrusion for 20% UpsideHi,
NSE:KABRAEXTRU has given a Bullish Flag Breakout on Daily charts with very good volume.
MACD is also on the bullish side on Daily and Monthly time frames. RSI is also on the bullish side on daily, weekly and monthly time frames.
In the current market scenario, I am expecting that the bullish momentum will continue.
Complete price projection like entry, stop loss and targets mentioned on the charts for educational purpose.
Don't Forget to Follow me to get all the updates.
Please share your feedback or any queries on the study.
Disclaimer: Please consult your financial advisor before making any investment decision.
Today was the Dream day for Bulls on NIfty Expiry DayNifty index hit the New All TIme HIghs & reaching it near to imp level of 23000
After sustining above prev day's high, the index kept the strong positive momentum throughout the sesion
The level of 22800/700 may act as an immediate support level
whereas nearest hurdle is placed around 23050 zone
A L ong bullish candle is formed on Daily TF
Market may show volatility during the last phase of elections
However in case of strong Bearish Pattern at higher levels,
the index may come back to prev Range
Keep Tracking Charts
*For Educational Purpose
Learn & Practice Price Action setups
23 May 2024 - Nifty almost kissed 23000 today, Bulls charged upNifty Analysis - Stance Bullish ⬆️
Nifty had an impressive 417pts ~ 1.85% intraday rally, although the bullishness was predicted - I was quite surprised that we had such momentum today, and that too before election results.
But if you look at the data objectively, what we had today was quite reasonable. After all, we were breaking out from the all-time highs and usually, that means a quick surge of which the excesses will be shaved off in a day or two. For tomorrow, our bullish stance continues and there are no more resistances above this level, meaning we would not really know where the next stop would be.
NIFTY Intraday Trade Setup For 24 May 2024NIFTY Intraday Trade Setup For 24 May 2024
Bullish-Above 23000
Invalid-Below 22950
T- 22210
Bearish-Below 22790
Invalid-Above 22840
T- 22575
NIFTY has closed a record high with 1.64% gain today. Index has given a strong breakout of the weekly Range. FIIs have also turned buyer today after a long time. Chances of a 90 degree angle move is high followed by a consolidation breakout now. Next stop seems near 23850 in daily TF as per range calculation. Tomorrow above 23000 there can another strong move in intraday and best suited will be on flat opening. 22790 will be intra support.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 23k then we will long for the target of 23210.
For selling we need a 15 Min candle close below 22790. T- 22575.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
==========
I am Not SEBI Registered
This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
Nifty on Radar - 23 MayFor the next potential level I use Fibonacci Extension.
So, the next Important Level to consider is 23274.55
Also the expansion in both bands is equally distributed, this indicates the uptrend will continue.
Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
Nifty50 ( 23rd May ) 1/3If this hourly candle rejects from 22723 or next hourly closing below 22702 then 📉 📉 could test below levels marked on the chart
If any closing sustains above 22702 in hourly then bullish 📈 📈
Disclaimer:
Its a personal view not a financial advise and I assume no responsibility and liability whatever outcome arises.