What Is India VIX & Its impact on the Market Q: What is India VIX?
Ans) India VIX, or India Volatility Index, measures the market's expectation of volatility
over the near term. It is often referred to as the "Fear Gauge" as it indicates
the level of fear or risk in the market.
Higher VIX values indicate higher expected volatility,
while lower values suggest lower expected Volatility.
Q: What does a High India VIX indicate?
Ans) A High India VIX indicates that traders expect significant volatility
in the market. This often corresponds with market uncertainty or fear,
possibly due to Economic Events, Political instability, or other factors that
might cause large price swings.
Q: What does a L ow India VIX indicate?
Ans) Low India VIX suggests that traders expect the market to be relatively
stable in the near term. This typically corresponds with periods of market
confidence and lower perceived risk.
Q: How do major events affect India VIX?
Ans) Major Events such as Elections, Economic Announcements, Geopolitical Tensions,
or Natural Disasters can significantly impact India VIX. These events often lead to increased uncertainty and Fear, causing India VIX to spike as traders anticipate greater market volatility.
These are some of the Basic information about the India VIX and its impact on the Market
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Niftyprediction
Nifty, Divergence Formed on the Weekly ChartA strong Divergence pattern is formed on the Weekly Chart.
Also we have an indecisive candle on the daily chart.
WTF Resistance : 23,200
WTF Support : 21,850
Disclaimer : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
NIFTY Prediction for tomorrow | 3 June | MondayAs we discussed, Nifty had a sideways structure; it was sideways the whole day.
If we look at the chart now:
The market is trading in the range while taking good resistance at 200-EMA. The market is very volatile as VIX is 24.60. the market is trading in the range 22465 - 22639. If we look at the last two candles, it is a huge volume from the support zone as well as selling from the resistance zone.
If we look at the OI data:
PCR = 0.76, which has fallen from 0.53, shows a market bullish structure. 22500 is going to be MaxPain. 23000 is very Hard resistance with heavy CE writing.
I am expecting:
Case 1 : Sideways in the range 22465 - 22639.
Case 2 : If the market breaks 22465 to the downside or if the market breaks the upside, it will be bullish.
Reasons:
RSI < 50 shows a weak bull strength.
Price < EMA(13, 50, 200), which indicates a bearish market.
The market has formed a lower high lower low structure in 15-min TH that indicates the market is bearish unless the market tends to form a Higher-High.
PCR = 0.76 indicates neutral market behavior.
Price < VWAP shows that a weak market structure can lead to a bearish market.
Verdict: Sideways in range also can break to either side.
Plan of action :
Case 1: Sideways: Sell 22450 PE & 22650 CE (Hedge it with 40/-)
Case 2: Exit the loss-making leg once it breaks the channel.
Nifty on Radar - 30 MayToday we have a gap down opening and the price has made a strong negative candle.
The price is in a strong negative trend. The probability on the down side is more than 60%.
Also the price is entering in the compression zone.
Disclaimer : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
#Nifty Directions and Levels for May31st.Good morning, friends! 🌺🍬 Here are the directions for May 31st:
The global market continues to show a bearish sentiment based on the Dow Jones, while our local market also shows a bearish trend. Today, the market may open with a slight gap-down, as indicated by GiftNifty, which shows a decrease of 25 points.
Nifty and Banknifty moved in different paths in the last session. What about today? I think it may continue a little bit. OK, let's look at the Nifty chart first.
Even though Nifty fell, it had a solid pullback in the last half hour, so even if the market opens with a gap-down, it may try to bounce back initially because the structures suggest that. If this happens, we can expect a range market between the 38% upside resistance and the previous low. if it happens, the second half might enter a correction phase. but This is not necessary, is our first variation.
The alternate scenario suggests that if the initial market takes a solid pullback and reaches the 38% Fib level, we can try a breakout entry that may reach the 50% Fib level. If this happens, it could retrace a little bit and continue consolidating further. However, if it breaks 50% after the consolidation, we can expect a rally continuation.
#NIFTY Intraday Support and Resistance Levels -31/05/2024Nifty will be gap up opening in today's session. After opening nifty sustain above 22570 level and then possible upside rally up to 22690 level in today's session. in case nifty trades below 22520 level then the downside target can go up to the 22400 level.
Nifty Support & Resistance Levels for 31.05.2024Nifty continued its downward journey yesterday, ending 216 points down. The nearest support zone (daily 22,483 - 22,630) mentioned in the last post was broken, with Nifty making a low of 22,417.
Support Levels:
Near Support: 22,313 (61.8% FIBO level of the last swing)
Far Support Zone (75m): 21,821 - 22,041
Resistance Levels:
Nearest Resistance Zone (15m): 22,568 - 22,602
Far Resistance Zone (125m): 22,710 - 22,802
Nifty is showing correction ahead of Exit Polls Results Nifty showed correction for the 5th straight session,
This is also the longest losing streak in last 7 months
After Gap down opening, it remained in negative trend throughout the session
A Bearish candle is formed on daily chart
The imp upside hurdle is placed around 22630 level
whereas downside support is around 22350 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
30 May 2024 - Nifty did not break the 22519 decisively, bearish Over the last 1 week, Nifty hits a new ATH of 23110 and falls 3% ~ 693pts. On a week-2-week basis, we have only fallen 395pts ~ 1.72%. What is more important is that we have started a nice reversal, what needs to be seen is if we get a stronger fall this time.
On every other occasion, the dip buyers emerged and ensured our indices were continuing the one-way trip i.e. upwards. Usually, every bull run will have a healthy correction, but in our case - we never even had a decent fall.
Yesterday we went short on Nifty and stayed neutral on BankNifty. Quite happy to see those trades went quite well. Nifty went all the way down to 22417 before retracing the support level of 22519 to close above. If we closed below 22519 today - it would have given a lot of confidence to the bears.
Nevertheless, our view still remains bearish for Nifty and neutral for BankNifty. The real momentum should pick up once BN also joins N50 by breaking its support of 48661.
NIFTY prediction for tomorrow 31 May 24As we discussed, Nifty had a bearish structure; It has fallen by 287 points.
If we look at the chart now:
The market is trading in the bearish zone below 200 EMA. The market has taken support from the 0.50 Fib level while making a Morningstar pattern with a very nice volume spike. Price is trading below EMAs, showing a weak bull structure.
If we look at the OI data:
PCR = 0.53, which has fallen from 0.63, shows a market bearish structure. 22500 is going to be MaxPain. There is significantly more CE writing than PE writing, which shows that, right now, big players are just pushing the market to the downside.
I am expecting:
Case 1: Inside the Orange trendline, the market is going to be sideways in the range 22465-22613.
Case 2: If the market breaks 22465 to the downside, we might see more bearishness to lower levels of 22200.
Reasons:
RSI < 40 falling from the upside shows a good bearish strength.
RSI showing Bullish divergence.
Price < EMA(13,200), which indicates a bearish market.
The market has formed a lower high lower low structure in 15-min TH that indicates the market is bearish unless the market tends to form a Higher-High.
PCR = 0.53 indicates huge bearishness.
Price < VWAP shows that a weak market structure can lead to a bearish market.
The market is making Morningstar star, which might force the market to hold the 22465 level.
Verdict: Bearish or Sideways
Plan of action :
Case 1: Sideways: Sell 22450 PE & 22650 CE (Hedge it with 30/-)
Case 2: Bearish: 22400 CE (Hedge it with 30/- CE) if the market continues bearish momentum.
Nifty50 ( 30th May ) 1/3If next hourly candle closes below 22582 -- 22589 then more 📉 📉 could be possible to below levels marked on the chart
If closing sustains above 22589 then SL hunting 📈 to 22689 and if it sustains above then will post upside targets
22280 and 22100 levels could test within 4th June
Disclaimer :
It's a personal view not a financial advice and I assume no responsibility and liability whatever outcome arises.
Nifty on Radar - 29 MayToday the price has opened with a gap down.
Most importantly the degree and nature of separation in both bands indicates the price is entering in the compression zone.
The price could experience high volatility.
The tentative range for tomorrow is 22577 to 23000.
Disclaimer : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
Nifty50 (28th May)22972 --22998 (No trade zone)
Closing below 22972 in hourly could be bearish 📉 to below levels marked on the chart
Any closing above 22998 in hourly is bullish 📈 ( will post upside levels if it sustains )
Disclaimer:
It's a personal view not a financial advice and I assume no responsibility and liability whatever outcome arises
Nifty Support & Resistance Levels for 30.05.2024Yesterday, Nifty took support at the near support zone mentioned in the last post and bounced in the first 30 minutes. However, it did not sustain and fell, closing 183 points down by the end.
Support Levels:
Nearest Support Zone (Daily): 22,483 - 22,630
Far Support: 22,313 (61.8% FIBO level of the last swing)
Resistance Levels:
Nearest Resistance Zone (30m): 22,858 - 22,895
Far Resistance Zone (30m): 23,047 - 23,111
#NIFTY Intraday Support and Resistance Levels -30/05/2024Nifty will be gap down opening in today's session. After opening nifty start trading Below 22670 level and then possible downside rally up to 22550 in today's session. in case nifty trades Above 22730 level then the upside target can go up to the 22850 level.
#Nifty Directions and levels for May 30th.Good morning, friends! 🌺🍬 Here are the directions for May 30th:
The global market continues to show a bearish sentiment based on the Dow Jones, while our local market also shows a bearish trend. Today, the market may open with a slight gap-down, as indicated by GiftNifty, which shows a decrease of 70 points.
But, I'm not sure if this is due to global issues or contract rollover with GiftNifty. Anyway, let's look at the Nifty direction.
Nifty has fallen with some minor swings. If the market opens with a gap-down, then the 38% Fibonacci level might act as a strong support. If it finds support there, then we can expect a pullback of 23 to 38% max. It could be a minor retracement, and if it gets rejected there, then the correction will likely continue. On the other hand, if the pullback structure has a solid candle formation, it might break the 38% Fibonacci level(upside). If it breaks, then we can expect 50 to 61% for the next target. If we want to state this more clearly, it may turn into a range between the upcoming low and the 61% Fibonacci level. This sentiment is also applicable for a neutral to gap-up situation because, as I mentioned, I don't know exactly why GiftNifty is showing a negative sentiment.
The alternative scenario is if the gap-down sustains and breaks the immediate support with some consolidation or immediately, then the correction will likely continue.
bullish breakout of weekly flag and pole pattern in IRFCA Bullish Flag and Pole pattern is visible on the Daily chart of NSE:IRFC
The Flag and Pole pattern is a bullish continuation pattern and it is visible in charts after a meaningful appreciation in the price.
MACD gave Positive crossover on Daily, Weekly and Monthly chart. So, expecting the momentum to continue.
One can create a fresh position in the scrip as per the levels mentioned on the chart.
Risk Disclaimer:
The trading ideas and analyses presented here are for educational purposes only and do not constitute financial advice. Trading and investing in financial markets involve risk. You should carefully consider your own financial situation, risk tolerance, and investment objectives before making any investment decisions.
The information provided in this analysis is based on my personal interpretation of market conditions and the available data at the time of writing. It is subject to change without notice, and I cannot guarantee the accuracy, completeness, or timeliness of the information provided.
Trading and investing carry the risk of substantial losses, and past performance is not indicative of future results. Always be aware that markets can be unpredictable, and prices may move against your trade or investment.
It is advisable to seek advice from a qualified financial professional and to conduct your own research before making any investment decisions. You should only invest funds that you can afford to lose.
I am not responsible for any trades or investments made based on the information presented in this analysis. By reading and using this information, you acknowledge and accept that you are solely responsible for any losses you may incur.
1.5 years long bullish Inverted Head & Shoulder Breakout A Bullish Breakout of Inverted Head and Shoulder pattern is visible on the Daily chart of NSE:WIPRO
The shoulder is exactly at 0.236 fib retracement level. and the target is nearly at 0.50 fib level.
MACD gave Positive crossover on Daily, Weekly and Monthly chart. So, expecting the momentum to continue.
One can create a fresh position in the scrip as per the levels mentioned on the chart.
Risk Disclaimer:
The information provided in this analysis is based on my personal interpretation of market conditions and the available data at the time of writing. It is advisable to seek advice from a qualified financial professional and to conduct your own research before making any investment decisions.
Short Term Trading Opportunity in Engineers India 20% UpsideHi,
An bullish on-neck Breakout pattern emerged on the Daily chart of NSE:ENGINERSIN
MACD on daily, weekly and monthly time frame is on the bullish side and also expecting the bullish setup to continue.
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 Trading Idea in Vedanta Ltd fro > 20 % UpsideHi,
NSE:VEDL has given a Bullish Flag Breakout on Daily charts with very good volume.
MACD is also on the bullish side on Daily, 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 Engineers India for > 20% UpsidHi,
NSE:ENGINERSIN has given a Bullish Inverted Head & Shoulder 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.
NIFTY Intraday Trade Setup For 30 May 2024NIFTY Intraday Trade Setup For 30 May 2024
Bullish-Above 22810
Invalid-Below 22760
T- 23000
Bearish-Below 22680
Invalid-Above 22730
T- 22480
NIFTY has closed on a bearish note with 0.8% cut today. It was a low volatility day as overall range it traded was 22800 and 22700. It opened with a decent gap down of 125 points and in this case 10 o'clock range was to be used. Range broke downside below 22760 and gave 50 points move which was 1:1. Tomorrow if there is another gap down then I will watch for the 1st 5 Min candle's breakout either side.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 22810 then we will long for the target of 23000.
For selling we need a 15 Min candle close below 22680. T- 22485.
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.