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#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.
NSE:NIFTY
by Manickamtraders
Nifty on Radar - 21 MayToday, with a gap down opening the index is recovered with strong momentum and made a close above the previous close. In the domestic market, foreign selling ahead of the final two phases of national elections is expected to keep volatility high. The index took strong support and over the last six trading sessions, it has shown a strong uptrend rally. The current S1 is placed at 22300 and R1 is placed at 22600 levels. The selling by FIIs and elevated India VIX levels are exerting pressure on it. Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
NSE:NIFTYLong
by ssvirdi
NIFTY analysis for tomorrow 22 MayAs we discussed, Nifty ended sideways today. If we look at the chart now: The market is trading at the higher side of the channel. Right now, the market is in a mini-channel. If it breaks to the downside, it can result in bearishness in the market to 200 EMA levels. NIFTY seems more bullish than Banknifty, where Banknifty is preparing for a bearish structure. It might force NIFTY to be sideways as NIFTY still has good support for lower levels. If we look at the OI data: PCR = 1.10 shows the market's bullish structure. 22500 is Maxpain, while 22400, and 22500 have good PE writing, which is going to act as a nice support zone. PCR has fallen from 1.25 to 1.10, which shows that the CE windup today was good. I expect the market to go sideways or bearish. Reasons: Price ~= EMA(13) and Price >> EMA (200). NIFTY might retrace to 200 EMA levels. RSI is 40-60, showing a market sideways structure.\ Fall in PCR from 1.25 to 1.10 shows Bears are increasing their position in the market. Price < VWAP, which indicates the price is weak, might correct itself. The market is in a consolidation phase, trading at the higher side of the uptrend channel. Verdict: SIdeways or Bearish Plan of action : Sell 22550 CE and 22400 PE (Hedge it with 10/-)
NSE:NIFTY
by finnova_
Nifty levels - May 22, 2024Nifty support and resistance levels are valuable tools for making informed trading decisions, specifically when combined with the analysis of 5-minute timeframe candlesticks and VWAP. By closely monitoring these levels and observing the price movements within this timeframe, traders can enhance the accuracy of their entry and exit points. It is important to bear in mind that support and resistance levels are not fixed, and they can change over time as market conditions evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance to consider. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We hope you find this information beneficial in your trading endeavors. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you success in your trading activities!
NSE:NIFTY
by sacxe
#Nifty directions and levels for May 21st.Good morning, friends! 🌺🍬 Here are the directions for May 21st: The global market is indicating a bullish sentiment based on the Dow Jones, while our local market sentiment also suggests a bullish trend. It might open with a gap-up start, as suggested by GiftNifty, showing an increase of +60 points. Nifty has a minor consolidation structure after the sharp rally. GiftNifty indicates a positive start, and the structure also suggests the continuation of the rally. However, there is major resistance at the 78% Fibonacci level. so, If the market breaks or consolidates around this level, we can expect the rally to continue further, potentially reaching 22,636 to 22,684. and The 22,684 level is a supply zone, so if the rally is rejected there, we can expect a correction of 23% to 38% in the minor swing. Alternatively, if the market is rejected around the 78% Fibonacci level or if the gap-up doesn’t sustain, it may retrace 38% in the minor swing. Here we have two scenarios: 1 - There has been a solid rally, so according to the structure, it could undergo a retracement of 23% to 38%. After that, if it finds support at either 23% or 38%, the rally is likely to continue. 2 - According to the wave structure, a 5-3 structure is forming, indicating a zigzag variation. If the market breaks the 38% Fibonacci level, it may enter a correction phase. If this happens, you can set your target at 50% and 78%.
NSE:NIFTY
by Manickamtraders
Nifty - Intraday levels & Prediction for - 21 May 2024Nifty Prediction for Tomorrow and Current Week: Trend : BEARISH Sentiment : Positive Expectation : Moderately BEARISH Nifty expected to be in range between 22625 & 22300 support and resistance Level this week respectively. Tomorrow Nifty likely to Open flat and BEARISH fall might be there as retracement trend up to 22350 level before it moves on the higher side. However the weekly trend is going to be sideways this week so we cant expect trending move until the Election Result. Look for Buy/Sell at Demand and Supply zone for profitable trades. Demand and Supply Zones - When price breaks the zone, Demand zone will become Resistance and Supply zone will become Support. Refer the chart for detailed Intraday Support and Resistance levels. Happy Trading!!
NSE:NIFTYShort
by ViVenTraders
17, 18 May 2024 - Nifty looks strong, bullish tone continues...There are a few changes to my daily postmortem report. After I started the MFD business, not getting enough time to write a detailed technical report daily. Thought I would send the reports every day on Thursdays after the Nifty's expiry. The detailed analysis and the 4mts, 16mts, 63mts chart will be explained on my personal blog as well. Here on Tradingview, I will continue to post daily with just the direction and a brief one-liner. You can always contact me if you need more explanation or synthesis. 17th may - Nifty defends 22295 but is unable to break 22519. Stance is still bullish. 18th may - 11.07 candle has a long tail, that went up to 22051 - quite strange though. Targets for Monday - bullish with 22519 to be taken out. Stance will revise to neutral if 22295 is broken
NSE:NIFTYLong
by viswaram
Nifty on Radar - Weekly Review | 18 MayWeekly Marubozu bullish candle piercing the STMA band. 22800 could be tested, if broken then we have 23000+ levels and the potential target is 23800 on the projection scale. According to the volume profile the level of 22050 could act as a strong support and according to chart structure the support is 21800. For momentum reading the resistance is 22600. Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
NSE:NIFTYLong
by ssvirdi
NIFTY analysis for tomorrow 20 May | MondayAs we discussed, NIFTY has a bullish structure as it was tested on a disaster management system. That is exactly what happened today. The market had a huge volatility of 500 points in 10 min. There was no order flow; it was like a pump-and-dump scam. What is SEBI doing regarding these spikes? Let's see for tomorrow's setup- If we look at the chart now: The market is trading at the resistance level right now, as it was a disaster management system testing. There were not many players in the market. So there were no big moments. The important support levels 22293, 22100, on the other hand, 22609(minor resistance), and 22763 are going to provide a nice resistance. If we look at OI data: PCR = 1.25 shows a bullish structure. If we notice today after 11:15 AM, there is a heavy volatility with 500 points. However, there was no order flow in the OI data. 22500 is the maximum pain. 22400 and 22300 have good PE writing that is going to provide a nice support. On the upper side, there is less CE writing, which shows that the market is still going in a bullish direction. FII and DII data are not yet available. I am expecting the market to go higher in the upcoming sessions. Reasons: RSI crossing 60 to the upside might be the start of the new bullish trend. Price > EMA (13,200), which shows the market is ready to go bullish. PCR = 1.25 shows a very bullish sign. Price > VWAP means bulls are getting strength. The market has already given a breakout. It was a good accumulation today; soon, it will shoot to the upside. Verdict: Bullish Plan of action: Sell 22400 PE (Hedge with 15/- Premium)
NSE:NIFTY
by finnova_
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 levels - May 17, 2024Nifty support and resistance levels are valuable tools for making informed trading decisions, specifically when combined with the analysis of 5-minute timeframe candlesticks and VWAP. By closely monitoring these levels and observing the price movements within this timeframe, traders can enhance the accuracy of their entry and exit points. It is important to bear in mind that support and resistance levels are not fixed, and they can change over time as market conditions evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance to consider. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We hope you find this information beneficial in your trading endeavors. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you success in your trading activities!
NSE:NIFTY
by sacxe
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_
#Nifty directions and levels for May 16th.Good morning, friends! 🌺🍬 Here are the directions for May 16th: 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 gap-up start, as suggested by GiftNifty, showing an increase of +120 points. Nifty minorly retraced after the gap-up start in the previous trading session. Structurally, we have two options. The first one is the GiftNifty indication of a gap-up start, so if the gap-up sustains and breaks the level of 22337, we can expect further rally continuation. In this scenario, if it forms a solid green candle structure, then we can expect a sharp rally followed by a range breakout. Otherwise, it may go into a diagonal pattern structure (consolidation pattern). Alternatively, if the market rejects around the immediate resistance level, initially we can expect a 23 to 38% minor retracement. If it finds support there, it may undergo some consolidation for rally continuation. This means if it doesn’t break the minor Fibonacci level of 38%, then the market will maintain the bullish bias. on the other hand if it breaks the minor Fibonacci level of 38%. then we can expect a minimum correction of 78% to the next level of 1.27%. Structurally, it could be in a flat variation. After that correction, if the market finds support at the 1.27 extension level, then it may turn into a bullish bias.
NSE:NIFTY
by Manickamtraders
1
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 levels - May 16, 2024Nifty support and resistance levels are valuable tools for making informed trading decisions, specifically when combined with the analysis of 5-minute timeframe candlesticks and VWAP. By closely monitoring these levels and observing the price movements within this timeframe, traders can enhance the accuracy of their entry and exit points. It is important to bear in mind that support and resistance levels are not fixed, and they can change over time as market conditions evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance to consider. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We hope you find this information beneficial in your trading endeavors. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you success in your trading activities!
NSE:NIFTY
by sacxe
14 May 2024–Nifty gets steam, is it short covering or fresh longNifty Analysis - Stance Neutral ➡️ Recap from yesterday: "The recovery was more than fast and furious, it even took out the 22051 resistance level. This nudged me to change the stance from bearish to neutral just for tomorrow." Nifty started the day inline and then started climbing almost steadily. There were no visible drops, pullbacks, or attempts by the Bears to push down the prices. The decision to change the stance from bearish to neutral yesterday paid off. At this point, I am not quite sure if it's the short covering or build-up of new long positions that is taking the markets higher. I am hard-guessing it should be a short covering. The moment we get past 22295, we will be forced to go long. On the higher time frame, N50 has held on to the 21913 pretty strongly reinforcing the IH&S pattern (earlier). This could be read along with the new double bottom (W pattern) that is forming which shows the strength of the support level. Nifty Algos ended the day with gains of 5625 INR
NSE:NIFTY
by viswaram
Nifty levels - May 15, 2024Nifty support and resistance levels are valuable tools for making informed trading decisions, specifically when combined with the analysis of 5-minute timeframe candlesticks and VWAP. By closely monitoring these levels and observing the price movements within this timeframe, traders can enhance the accuracy of their entry and exit points. It is important to bear in mind that support and resistance levels are not fixed, and they can change over time as market conditions evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance to consider. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We hope you find this information beneficial in your trading endeavors. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you success in your trading activities!
NSE:NIFTY
by sacxe