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NIFTY50 - WHAT IS NEXT?Symbol - NIFTY50 CMP - 23700 The Nifty50 is still trading within a falling channel pattern, which continues to highlight a bearish technical structure. Currently, the index is facing resistance at the upper end of this channel, between 23700 - 23820. Given the ongoing downtrend and resistance levels, there is a strong possibility that Nifty may experience a pullback from these levels. Nifty is likely to continue trading within this channel, and in the short term, we could see a correction back towards the 23000 - 22800 region. These levels would act as near-term support, as they align with previous lows and key technical levels. However, if the Nifty breaks above the upper boundary of this channel and manages to sustain above it, the short-term trend could shift from bearish to a more sideways. Such a breakout would indicate a possible consolidation phase, though a shift in trend would require sustained strength above the channel's resistance. In the event that Nifty undergoes further correction and moves towards the 22500 - 22300 range, this would present an excellent opportunity to buy the dips. At these levels, valuations are expected to become attractive, and investing in strong stocks for the medium to long term could provide solid growth potential as prices at this range could offer significant upside potential. Thus, while the immediate outlook remains bearish with resistance holding firm, the deeper correction could offer great entry points for investors looking to capitalize on potential market growth over time. Key resistance levels remain around 23750 - 23900, and support is expected at 22850 - 23000. The 22500 - 22300 region is a crucial area for potential buyers. Traders should stay alert to a possible shift in trend if the upper boundary of the falling channel is broken.
NSE:NIFTYShort
by akshit_official
2
#Nifty50 - 27th November NSE:NIFTY Chart contains support and resistance levels ( understand how it works 👇🏻) Support and resistance are key concepts in technical analysis used to identify potential price levels where assets may reverse or stall. Support: -Definition: A support level is a price point where buying interest is strong enough to overcome selling pressure, preventing the price from falling further. - Indicators: Support levels can be identified through historical price data, trend lines, or moving averages. - Behavior: When a price approaches support, it may bounce back up. If broken, it can become a new resistance level. Resistance: - Definition: A resistance level is a price point where selling interest is strong enough to overcome buying pressure, preventing the price from rising further. - Indicators: Similar to support, resistance levels can be identified through past price action, trend lines, or moving averages. - Behavior: When the price approaches resistance, it may retreat. If broken, it can turn into a new support level. Importance: - Trade Decisions: Traders use these levels to make buy or sell decisions, set stop-loss orders, and identify potential profit targets. - Market Psychology: Support and resistance levels reflect market sentiment and the balance between supply and demand. Understanding these concepts can enhance trading strategies and improve decision-making. Ps note: I'm not SEBI Registere 🙏🏻
NSE:NIFTY
by thetradeforecast
1
Nifty Intraday Trade Setup | 6th DecemberNifty opened with a gap-up and faced rejection near our buy level 24540 in morning, broke sell level 24410 and gave good downfall towards 24295. Both targets were done for sell trade. After consolidation at lower levels, Nifty gave a sharp up-move and gave 500 points rally from lower levels, made a high at 24857. From day high we again saw 300 points fall in just few mins, today was highly volatile session because of RBI Policy meeting decision tomorrow. For tomorrow the range the big, trade very cautiously and be alert at higher levels in Nifty. We will look for the sell on rise opportunity. Expectations: Highly Volatile movement. Intraday Levels: Buy Above - 24850 Sell Below - 24550 To motivate us, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India
NSE:NIFTY
by InvestPro_India
1
Nifty analysis for 03/12/2024Nifty has been trading in a range for last five trading session and there are possibility of a trend reversal as the chart seems to me. It is trading around the Hourly EMAs and has closed above it after good fall on Thursday. If there is a break out of the resistance zone, 24500 can also be breached and new highs around 24730 can be seen. A base and W pattern formation is there around the low created. Buy on dip can be done once the crucial round number figure is taken out. Resistance :- 24350, 24500, 24940 Support zone :- 24090-24140 The market is looking strong for the coming days. Market reaching 25k this week or the next can be seen. Wait for the price action near the levels before entering the market.
NSE:NIFTYLong
by TheMamboMomentum
Nifty50 Crosses Head and Shoulder Pattern, Resistance at 23895Details: Asset: Nifty50 Index Breakout Level: Nifty50 crossed the head and shoulder pattern Current Level: 24472 Potential Resistance: 23895 Stop Loss: Based on risk tolerance or technical analysis Timeframe: Short-term, dependent on market sentiment and election outcomes Rationale: Nifty50 has broken through a head and shoulder pattern, a typically bearish indicator. The next significant resistance level appears at 23895. The market may see further downside unless positive developments, such as favorable election results, provide relief. Market Analysis: Bearish Pattern: The head and shoulder pattern indicates potential further downside. Nifty50 may continue to decline unless a reversal is triggered by positive news or market catalysts. Election Impact: Election results could play a crucial role in determining the market’s direction, especially in a sensitive period like this. Price Target: Resistance is likely at 23895. If Nifty50 fails to break this level, it may see continued bearish momentum. Risk Management: Adjust stop losses based on individual risk tolerance and technical analysis, especially given the uncertainty around political outcomes. Timeframe: The timeframe for reaching resistance at 23895 could be short-term, but broader market trends and election outcomes may impact the index's movement. Risk-Reward Ratio: The setup leans bearish, with the head and shoulder pattern indicating downside risk. Ensure stop-loss levels are adjusted for volatility. Monitoring the market's response to political and macroeconomic factors will be key for Nifty50's near-term outlook.
NSE:NIFTYShort
by CyborgTradingHub
NIFTY TOMORROW PREDICTION NIFTY makes Head and shoulder pattern in 1H Time frame ..........if it's breaking the levels then We will see in negetive movement in market... Nifty 50 has broken through the floor of a rising trend channel in the short term. This indicates a slower rising rate at first, or the start of a more horizontal development. The index has broken a head and shoulders formation. A decisive break, preferably with increasing volume, is considered a confident signal of the start of a falling trend. The index has broken down through support at points 25000. This predicts a further decline. RSI below 30 shows that the momentum of the index is strongly negative in the short term. Investor have steadily reduced the price to sell the index, which indicates increasing pessimism and continued falling prices. However, particularly in big stocks, low RSI may be a sign that the stock is oversold and that there is a chance for a reaction upwards. The index is overall assessed as technically negative for the short term.
NSE:NIFTYShort
by yashasvinamdev
What’s Nifty planning to do next?After the budget on July 23, 2024, Nifty experienced a slight retraction. But, today (July 26, 2024), it recovered and created an all-time high of 24, 861. This raises the question, “ What’s Nifty planning to do next? ” For a change, let’s try to decipher Nifty’s next move using Neo waves. We begin the count from the Election results’ day low hit by Nifty on June 4, 2024. As, Nifty moved ahead, we became more convinced that it is creating a Neo wave Diametric pattern (bowtie), which is a 7-legged structure. This quote from neowave.com, will help you understand why we considered it a diametric pattern – “ As the time between waves becomes very similar (but price differences still exist), a Diametric is your best option. ” Nifty seems to have completed the A-B-C-D-E-F legs of the diametric and is right now in the G wave. So, how far will the G-wave extend? Ideally, G-wave would be 61.8% of A, but it can also be truncated at either 38.2% or 50% of A. In case of Nifty, a truncated G wave of 38.2% comes to around 24,950, 50% is around 25,250, and 61.8% is around 25,500. We think that this G wave will most likely hit the 50% mark. Only time will tell where the G-wave will culminate, but once it hits the 38.2% mark, we should become cautious and begin looking at price action more carefully. Disclaimer : We are not SEBI registered. The content presented here is based on personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
NSE:NIFTY
by WaveMoku
3
#BUDGET2024 NIFTY POV 24/07/2024Well, today's market opening has a gap up in Nifty. Also, all markets will be opening with GUP-UP. So, come to the point I think the market may be going to the downside because of the weak sustainability. the reason for weak sustainability is the big players manipulate the retail buyers or this recovery shows the interest of retail buyers in the bullish view because of this the FII/DII make the big moves where the retailers lose their money in the market sentiments. L E V E L S:- SUPPORT:-24300 24100 RESISTANCE:-24600
NSE:NIFTYShort
by TheGoldenRatio-6
07 May 2024 - Going short on Nifty50 as 22295 violated, 🐻🐻🐻Nifty Analysis - Stance Bearish⬇️ Recap from yesterday: "Our markets not rallying as against the recovery in US markets - speculating something to do with the re-election and taxation. Since I do not have any data points, will wait for more clarity." After having an inline opening, Nifty50 started falling quite aggressively. Without a real struggle, 22295 was taken out in the first attempt itself. By 11.39 we fell almost 269pts ~ 1.2% and that too without any retracement. The moment the support was breached, we had to revise our stance from neutral to bearish. Unfortunately, we did not have further bearishness today, and by going short it may appear that we did not get any benefits today. Normally when critical support is broken, it means we should have further follow up action shortly. Also in the 63mts TF we did not really break it, if you are a conservative trader, it is a good idea to wait for one full candle to form below 22295. When you look at the higher time frame, N50 trading between 22295 and 22051 is detrimental to the inverse H&S formed between 14th to 26th March. If the next support of 22051 is broken, then we might even have to remove that candlesticks pattern. Despite a sharp move today, N50 algos made 10417 INR today thanks to the India VIX that rose to 17% levels.
NSE:NIFTYShort
by viswaram
#Nifty directions and levels for March 6th."Good morning, friends! Here are the directions for March 6th: The global market trend remains structurally moderately bearish, supported by the Dow Jones, while our local market sentiment indicates a moderately bullish trend. It might open with a neutral to a slightly gap-down start, as suggested by Giftnifty, showing a -12 point. Nifty has a range-bound structure, so if the market opens neutrally, we can expect further range continuation. However, a directional move is anticipated only if it breaks the range either upside or downside.
NSE:NIFTY
by Manickamtraders