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
Niftyprediction
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!
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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.
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#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.
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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.
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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.
Nifty Support & Resistance Levels for 23.05.2024Yesterday, Nifty entered the near-resistance zone mentioned in our last post and closed at 22,597.90 after hitting a high of 22,629.50. The daily trend (50 SMA) remains sideways, but the 75-minute and hourly trends are positive.
Support Levels:
Nearest Support: 22,370 - 22,407
Far Support: 22,060 - 22,142
Resistance Levels:
Nearest Resistance: 22,606 - 22,674 (remains the same)
Far Resistance: 22,755 - 22,795
#Nifty directions and levels for May 23.Good morning, friends! 🌺🍬 Here are the directions for May 23rd:
The global market is showing a moderately bullish sentiment based on the Dow Jones, and our local market also suggests a similar trend. We might see a neutral to slightly gap-down start, as indicated by GiftNifty, which shows a decrease of 30 points.
Nifty has been maintaining a bullish bias within a consolidation structure. However, GiftNifty indicates a slightly negative start. If the market opens with a gap-down and sustains it, we could see a correction of 23 to 38%.
On the other hand, if the market initially takes a sharp pullback, it may continue the rally with a diagonal formation.
#NIFTY Intraday Support and Resistance Levels -23/05/2024Nifty will be gap down opening in today's session. After opening nifty start trading Below 22590 level and then possible downside rally up to 22470 in today's session. in case nifty trades Above 22640 level then the upside target can go up to the 22760 level.
22 May 2024 - Nifty still upward looking, bullish tone continuesReliance and Infy were the major contributors to Nifty's GREEN show today. This happened at a time when the Banks were taking a huge beating. Finally, it came out good for the bulls as the 22519 resistance is now broken safely.
The next target is the ATH and then I am not quite sure how much more we can go from there. Lok Sabha election results are coming up in 2 weeks and the markets are getting prepped up for a massive one-side move.
The stance continues to be bullish above 22519.
NIFTY - COMPRESSION PHASEWhen the price is at an all-time high, the best way to gauge the trend's strength is to observe its reaction to its previous range. Large and impulsive expansion stages indicate a strong trend.
However, when examining the NIFTY chart on the daily timeframe, the price consistently revisits the extreme discount pricing of its previous range, immediately after breaking the high.
This pattern signals weakness and suggests a potential free fall towards 20,700. Price can make one more ATH before the fall.
Additionally, the election results scheduled for June 4, 2024, could serve as the trigger for this anticipated decline.
#NIFTY Intraday Support and Resistance Levels -22/05/2024Nifty will be gap up opening in today's session. After opening nifty sustain above 22530 level and then possible upside rally up to 22650 level in today's session. in case nifty trades below 22480 level then the downside target can go up to the 22360 level.
#Nifty directions and levels for May 22nd.Good morning, friends! 🌺🍬 Here are the directions for May 22nd:
The global market is still maintaining 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 +30 points.
Nifty closed neutral with minor rejection around the 78% Fibonacci level, while GiftNifty indicates a slightly positive start. Given this sentiment, the market may consolidate between the 78% Fibonacci level and yesterday's closing price. If the market breaks the 78% resistance, we can expect the rally to continue. Moreover, if the 78% resistance is breached without any consolidation, it further confirms a rally.
Alternatively, if the gap-up doesn't sustain or if the market opens with a gap-down, we can expect a minor correction of 38%. Key points to consider:
>If the market reaches the 38% level aggressively, it may fall further with little consolidation.
>On the other hand, if it takes time to reach the 38% level, then the 38% level will act as strong support, and we can expect a bounce back.
Nifty Support & Resistance Levels for 22.05.2024Yesterday, Nifty continued its upward journey and crossed 22,588. However, it couldn't surpass or close above 22,600, indicating selling pressure at higher levels.
Support Levels:
Nearest Support: 22,370 - 22,407
Far Support: 22,060 - 22,142
Resistance Levels:
Nearest Resistance: 22,606 - 22,674
Far Resistance: 22,755 - 22,795
21 May 2024 - Nifty did not close above 22519Stance is still bullish, but the steam is just not there.
Thought we would close above 22519 and pave the way for further bullishness. The first 4 candles were in green today, infact the 12.24 candle closed almost above the 22519 resistance level, but we were unable to hold the ground.
For 22nd, we continue to be bullish, but a bit watchful. If we are not breaching the resistance today, will change the stance back to neutral.