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Nifty & Bank Nifty Analysis For 17 May 2024In this video, we'll discuss about Yesterday's Market Movement and Today'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! ✅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
NSE:NIFTY
by TheStockMantra
#Nifty directions and levels for May 17th.Good morning, friends! 🌺🍬 Here are the directions for May 17th: There have been no changes in the global and local markets. The global market is indicating a bullish sentiment based on the Dow Jones, while our local market sentiment suggests a moderately bullish trend. It might open with a neutral to slightly gap-up start, as suggested by GiftNifty, showing an increase of +20 points. Nifty has moved through four larger swings, which structurally indicates a range market. However, it closed above the range. giftnifty indicating gap-up start, so If the market sustains the gap-up sentiment, we can expect a rally continuation with minor consolidation. This is our first scenario. This means that if the market opens above the supply zone or breaks it with a solid green candle, then the rally is likely to continue. Alternatively, if the market faces rejection around the immediate resistance zone, it may retrace by a minimum of 23 to 38%. This is a trend continuation retracement level. If the market finds support after the retracement around 23 or 38%, we can expect the range market to continue its rally. On the other hand, if the correction breaks the retracement level of 38%, then the market will enter a correction phase, and we can expect the next target to be a minimum of 61 to 78%. This looks similar to the previous day's sentiment.
NSE:NIFTY
by Manickamtraders
Nifty Support & Resistance Levels for 17.05.2024Nifty found support in the demand zone between 22132 and 22071, dipping to a low of 22054.55 before bouncing back nearly 400 points to enter the supply zone at 22409 to 22589. As Nifty currently sits at the 50% retracement level of its recent 1000-point fall (from 22794 to 21821), it will be interesting to see how it reacts from these levels. The nearest resistance remains the same at 22409 to 22589, while the nearest support zone is now identified between 22060 and 22142. Additionally, a farther support zone is observed between 21922 and 22041.
NSE:NIFTY
by PriteshPal
16 May 2024–Stance upgraded to Bullish, Crazy 377pts intraday⬆️Nifty Analysis - Stance Bullish ⬆️ Recap from yesterday: "The good thing for the bulls was the fall ended at 10.27, for the remainder of the day we went into a small range bound trade. The final close was flat at -0.08%." We started today right at the resistance level of 22295 and then started falling. We went below yesterday's low and took interim support at 22119 levels. From there the bounce took us to 22295 again by 12.19 and this time the rejection was stronger and it ensured we fell to the next support level of 22051. What happened then was totally unbelievable, right at that level the rejection ensured we were retracing 377pts ~ 1.71% in 1 hour. Just crazy, unbelievable price action - normally we see that during news/event flows. 13 consecutive green candles, 15 out of 16 candles in green - just magical statistics. On the 63mts TF, just look at the size of the 63mts candle - simply wow. Our stance is now bullish with the next target being 22519. If we are falling, we need to go below 22295 for a neutral stance and 22051 for a bearish outlook. The algos were in deep loss today, courtesy of the fast & furious moves in the last 90mts. The forward test algo shows a profit of 2475, but the actual execution was in deep red due to slippages.
NSE:NIFTYLong
by viswaram
Nifty Intraday Trade Setup | 17th MayNifty opened with a gap-up and we saw a roller coaster session as per the expectations. Nifty made a morning high around 22340, made a low near 22100, came towards morning high and again we saw a fall towards 22050 levels. Last one hour rally was completely beyond expectations which took Nifty from 22050 zones to 22430. For tomorrow, we are not looking for a buy at higher levels and will see sell on rise opportunity in morning session. If Nifty sustains below 22300, we may see 22260 and below. On the other side if Nifty breaks 22430 and sustains above this level, we expect to see further rally towards 22470 and above marked levels on the chart. Expectations: Volatile Day Intraday Levels: Buy Above - 22430 Sell Below - 22300 To motivate us, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India
NSE:NIFTY
by InvestPro_India
1
Nifty showed Expiry Day momentum towards the end of session Nifty remained extreme volatile throughout the session after opening on a positive note today The INDIA VIX today made the High around 21 A Small body Bullish candle is formed on daily chart with long lower wick. The imp upside hurdle is placed around 22500 whereas downside support is around 22200 zone Track for price to form Price Action Patterns at Imp Levels, However market may show volatility during the last phase of elections Keep Tracking Charts *For Educational Purpose Learn & Practice Price Action setups
NSE:NIFTYLong
by Himanu_HATradeTalk1
NIFTY Prediction for today 16 May 24Nifty has already given the breakout. right now it's in the consolidation phase of WAVE 1. If we look at the chart now: Market is in sideways zone in range: 22098-22293 Important Levels: Support zones: 21811 , 21944, 22098 Resistance: 22544, 22763 If we look at OI data: PCR = 0.73, shows neutral structure. as it's expiry market is highly probable to end sideways in the provided range. if we got the momentum it is likely to be bullish. 22200 is going to provide maxPain. If we look the FII and DII data it is more of indecisive. Verdict: Sideways in range Bullish if breaks the range 22293 to upside.
NSE:NIFTYLong
by finnova_
15 May 2024–Nifty gets a mild rejection at 22295, stance neutralNifty Analysis - Stance Neutral ➡️ Recap from yesterday: "I am hard-guessing it should be a short covering. The moment we get past 22295, we will be forced to go long." The open was good and we started climbing quickly but at 22295 levels we got our first rejection. Four strong red candles between 09.51 and 10.27 brought N50 down by almost 143 points. If 22295 was breached, we would have changed our stance from neutral to bullish. The good thing for the bulls was the fall ended at 10.27, for the remainder of the day we went into a small range bound trade. The final close was flat at -0.08%. On the higher timeframe, we need to take out the resistance pretty quickly otherwise this pullback will start forming a lower high. A lower low, lower high formation is a bearish pattern and that would also mean the next leg of the down move will be more aggressive. At present we prefer to stay neutral till we get more clarity. The algos made a profit of 15750 INR, MTM was into a loss earlier on, but after 11am things started improving.
NSE:NIFTY
by viswaram
Nifty for 16/05/2024Nifty is in uptrend channel from last few sessions, now Nifty is taking support of the channel and forming symmetrical triangle pattern too, Nifty was moving in range of 22233-22164 in last session, if tommorow Nifty breaks this range either upside or downside, then we can expect big move. Here are some levels for your information. I am not SEBI registered analyst, this is my personal view only for educational purpose, I am not responsible for any profit or loss.
NSE:NIFTY
by bornforseain1984
NIFTY Intraday Trade Setup For 16 May 2024NIFTY Intraday Trade Setup For 16 May 2024 Bullish-Above 22300 Invalid-Below 22250 T- 22478 22675 Bearish-Below 22150 Invalid-Above 22200 T- 21965 21800 NIFTY has closed on an absolute flat note today. Since last two days index was strongly bullish. And as per simple market phases, index turns sideways after a parabolic move so has happened today. Index traded in a tight range. 22300 and 22150 is the range for tomorrow, we will simply trade this range breakout. Best trade will be on opening inside this range. Both side momentum will be good so will have neutral view. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 22300 then we will long for the target of 22478 and 22674. For selling we need a 15 Min candle close below 22150. T- 21965 and 21800. 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.
NSE:NIFTY
by Omahto