Nifty Trade Setup & Commentary - Nifty is currently trading at 24,148
- Nifty overall structure is at a very crucial point where we have a make or break structure
- Important zone and area to watch for bulls will be 23,813 and if this gets breached or if we see a weekly closing below this I expect Nifty to free fall till 23,200 and then 21,285
- Nifty Demand and POI Zones: 21,285 and 23,200
- Nifty Supply Zones: 25,200
- If Nifty goes upto 25,200 and shows a relief rally dont consider or assume the bull run is back because we need to flip that zone and wait for nifty to make a weekly close above 25,200 if order to turn bullish again
Niftytechnicalanalsyis
Nifty Levels Update For Option Day Trading 01 Dec 2022 Nifty One Hour Chart Analysis For Intraday Trading
Nifty Down Side Targets
First Support Zone For Nifty - 18680 -18668
Second Support Zone For Nifty –18601 - 18609
Third Support Zone For Nifty – 18555-18544
Nifty Up Side Targets
First Resistance Zone For Nifty - 18780 -18768 ( Nifty Made new All Time High Today )
Importent Signal from Nifty Option Chain
PCR ratio as per Option Chain Analysis – 1.62 ( Bullish )
Max Pain As per Option Chain Analysis – 18700
Major Support as Per Nifty Open Interest Analysis - 18600 & 18500
Major Resistance as Per Nifty Open Interest Analysis - 18800 & 18900
Nifty Trade Plan for 22 AUG 2022Nifty Trade Plan for 22 AUG 2022
Nifty is bullishly biased for the day with a solid bullish closing and managed to close above key resistance level of 16600.
Expecting a gap up opening in Nifty around R1 resistance levels.
If R1/Bullish Break Out is taken on opening 15-30 min we can possibly expect T1/T2 Targets today.
In case if R1/Bullish Breakout is not taken out on opening then we can possibly expect Nifty to be retest Bullish Reversal Zone and then bounce back on upside.
Any compromised of CPR we can possibly expect S1 and then PDL.
Nifty Trade Setup for 19 JULY 2022Nifty Trade Setup for 19 JULY 2022
Nifty expected to have a gap down opening around S1 Support levels.
Any rejection from S1 support levels we can anticipate Nifty to test out PDL & then may be Virgin CPR levels of yesterday.
In case if S1 support holds good then we can anticipate Nifty to be in a range and might test again PDH.
Also do watch out the linked video.
Nifty Trade Setup for 02 JUNE ExpiryNifty Trade Setup for 02 JUNE Expiry
Bearish alignment in the market and looks like a gap down opening around S1 Support.
In case if S1 Support or Bearish BO is compromised we can expect lower targets as plotted on the chart.
Market looks to be sell on rise today until any green candle close above Bearish Reversal zone for taking safe long position.
Nifty Trade setup for 06 MAY 2022Nifty Trade setup for 06 MAY 2022
Nifty formed a inside day bar on daily time frame closing around previous day low.
We can expect some good break out move tomorrow in case if the previous day low is getting compromised.
The CPR is bearishly aligned for tomorrow.
GAP UP Opening :
In case of Gap up opening, 16763 should act as a strong resistance, any resistance around these we can expect Nifty to again test previous day low & further lower targets.
GAP Down Opening :
In case of Gap down opening below PDL, we can expect first support around 16575 & that getting compromised we can expect 16500 & 16400 levels.
Flat Opening:
In case of flat opening, we will wait for rejection from PDL & go short or a support at Previous day low we can go for quick scalp to CPR.
nifty current scenarioNifty View:- In recent times Nifty has completed the target of the H&S pattern of minor trend and going to make another H&S pattern of a major trend. This pattern could be a trend continuation or a reversal pattern if it completes it will complete the target and could be reversed from here. In another scenario, Nifty can complete broadening top formation then reversed from here and about to make another trend.
Disclaimer:- This analysis is for education purposes only. I may be wrong. Trade is not recommended.
NIFTY 50 TECHNICAL ANALYSIS ( ELLIOT WAVE )2nd wave of the 5th wave have ended, 3rd wave of the 5th wave has started.
nifty also consolidated today and formed a bullish flag patter and it gave a good breakout
so expecting a gap up opening of minimum 120 points tomorrow
after the completion of 3rd wave expecting a quick fall as a retracement
above details are purely for educational purposes only
Nifty Trade Setup for 16 MAR 2022Nifty found a support at PDL and bounced back during closing and managed to close on a bearish note below the next day CPR.
Looking at the global parameters at this point of time, nifty is expected to have a gap up opening around Previous day high.
Unless the PDH is sustained and support is confirmed going long is risky.
In case Nifty opens above R1 resistance tomorrow and R1 is compromised and resistance confirmed we can trade for short till CPR & previous day closing price.
Expect a volatile market as Dow Jones is on a raise and Chinese market has collapsed by almost 5%, so tomorrow trading will be interesting to watch out.
Nifty Trade Setup for 08 FEB 2022Nifty Trade Setup for 08 FEB 2022
Nifty expected to open flat to small gap up opening.
Expected Nifty to be in a range today.
In case if 17330 levels is taken on upside and sustained we can expect Nifty to test 17460 levels.
In case of resistance from CPR or previous closing price getting compromised we can again short Nifty for PDL and then look for Bearish Break out zone.
Nifty Trade Plan for 01 FEB 2022Nifty Trade Plan for 01 FEB 2022
Expect Nifty to have a gap up opening around 17500 levels which is a good
resistance.
In case if that sustains we can anticipate 17600 resistance zone as plotted.
After such a gap up opening, going long need to extra cautious, Any resistance formed around these with confirmation from momentum trigger we can possible short with Current day high as SL & expect to again test 17300 levels again.
Post afternoon again we might again see a up move.
I would prefer to trade with small position size today as movements can be very volatile.
Nifty Trade Plan for 11 JAN 2022Nifty Trade Plan for 11 JAN 2022
Expecting a flat opening in Nifty.
18000 looks to be strong resistance and Nifty with a wider CPR expecting a possible range bound market.
If 18k is taken out we can expect some long position.
Inn case if CPR is taken out we can expect 17900 to tested again.
Any good support getting confirmed around 17900 we can look for possibly buy again.
Nifty Trade Plan for 06 JAN 2022Nifty Trade Plan for 06 JAN 2022
Global markets showing some bearishness and Nifty is at resistance.
Expect Nifty to open gap down around 17870, which is also our bullish reversal zone. Need to wait for the price action around these and take entries.
Expect Nifty to trade in a range today, so 18000 - 17800 strangles would be ideal as per my view.
As Per Open Interest
Resistance - 18000
Support - 17800
Nifty Trade Plan for 05 JAN 2022Nifty Trade Plan for 05 JAN 2022
Nifty looking pretty bullish and bull run seems to continue from yesterday close. Expecting a gap up opening in Nifty around 17840 zones.
On opening if PDH is tested and support confirmed, we can possibly look for long opportunity & if R1 is taken out successfully we can expect 18k getting tested.
In case PDH & PDC getting compromised we can expect Nifty to test CPR.
Nifty Trade Plan for 27 DEC 2021Nifty Trade Plan for 27 DEC 2021
Nifty expected to open flat to small gap down.
Descending CPR in Nifty, bearishly biased.
Any rejection from CPR is a shorting opportunity today.
If PDL & S1 is compromised we can expect Target 2 getting tested on lower side.
I would look for possible long opportunity only when 17075 is taken on upside and sustains.
Nifty Trade Plan for 23 DEC 2021 Expiry TradingNifty Trade Plan for 23 DEC 2021 Expiry Trading
Expecting a gap up opening in Nifty around 17100 levels
If the first 5 min candle open is again taken on the upside then we can expect 17200 resistance to be tested.
After such a gap up opening, any resistance confirmation around 17100 (Virgin CPR zone) we can possible looking for profit booking and we can initiate a counter trade.
Nifty Trade Plan for 14 DEC 2021Nifty Trade Plan for 14 DEC 2021
Global markets are weaker.
Expecting a gap down opening in Nifty.
In case Nifty opens below previous day low and comes for retest to Previous day low
and finds resistance then we can go short and sit for first target of 17270 ,
if S1 is compromised on lower side we can extend out next target to 17160.
Nifty Trade Plan for 13 DEC 2021Nifty Trade Plan for 13 DEC 2021
Expecting a gap up opening Nifty.
In case Nifty opens above 17600 levels and if you get a chance to test R1 or Bullish Breakout zone of 17582 at opening and confirms a support,
then we can expect upper resistance targets 17670 & above.
In case 17680 taken out and sustains then we can expect 17820.
Any resistance from Breakout T1 & T2 at opening we can look for possible shorting opportunity and expect Nifty to test R1 & may be PDH.
Nifty Trade Plan for 01 DEC 2021Nifty Trade Plan for 01 DEC 2021
Nifty looking weaker and any rise to Bearish Reversal zone/CPR is a selling opportunity tomorrow with possible lower target as plotted on the chart.
Expecting market to be in a range rather then much trending. Market looks to be sell on rise for tomorrow.
Nifty Trade Plan for 15 NOV 2021Nifty Trade Plan for 15 NOV 2021
Nifty made beautiful reversal from the monthly pivot in the previous trading session and gave us a good long opportunity and managed to close above the 18100 levels.
Nifty has formed a wider CPR on intraday time frame and hoping to be in a range today.
In case Nifty opening gap up, we have resistance around 18162-18185 levels.
If resistance is confirmed around these zones after opening we can go for possible shorting opportunity and we can expect Nifty to previous day closing of 18102.
In case Nifty opens flat and previous session high is taken out on upside with support confirmation we can expect Nifty to test 18180 levels.
On the higher side 18222 is strong resistance from Virgin CPR .
In case if Nifty opens flat and test CPR and bounces back again above 18043 then we can again go long with target of Previous day high.
Nifty Trade Plan for 02 NOV 2021Nifty Trade Plan for 02 NOV 2021
Expect a possible gap up opening in Nifty.
18030 is the first resistance to watch out and then 18071 is the Breakout zone for Nifty if that is taken out then we can expect 18200 levels to be tested.
In case of gap up opening and retest to 18000 or to yesterday's closing price is again a buying opportunity.
17860 is a strong support for Nifty on the lower side where we can expect a reversal.