Nifty Analysis: Potential Bearish Flag Pattern?The recent market activity suggests caution for Nifty as a potential bearish flag pattern might be forming. We've observed a "sell on rise" behavior over the past 3-4 sessions, indicating bearish sentiment. For Nifty to break free from this bearish spell, it needs to sustain above the 24,640 mark.
Key Levels to Watch:
Immediate Support: 23,940
Immediate Resistance: 24,390 and 24,490
Traders should keep an eye on these levels for any breakouts or breakdowns, as they will be crucial in determining the market's next direction. A decisive move above 24,640 could signal a shift in momentum, while failure to hold above this level may reinforce the bearish outlook.
Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research and consult with a financial advisor before making any trading decisions. Trading in financial markets involves risk, and past performance is not indicative of future results.
Niftytomorrowlevels
Nifty Intraday Levels | 16-JULY-2024#Optionbuyers
#Niftyoptionscalping
1️⃣ Zones you always Like:-
👉Green zone- Institutional support
👉Red zone - Institutional resistance
👉Gap between institutional zones is always of 100 points
👉Zone is created with the help of pivot points and Fibonacci
👉Advance version of price action
👉Trades based on Nifty future chart
2️⃣ Trade Execution:-
👉Trade based on order flow data
👉Timeframe - 1 min and 5 min
👉Risk Reward Ratio always 1:2
👉Strike price always ATM & slightly ITM
👉Maintain Position sizing according to your own method
3️⃣ House Rules in trading:-
👉Sharp at 9:15 AM
👉Priority to risk management
👉Fast execution (morning breakfast)
👉Stop-loss 10 points (strictly)
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Nifty Daily Levels Update For Option Day TradingNifty Trading idea with Trading Strategy | Nifty Prediction 2022
Nifty Possible Trade for Tomorrow
When to Buy Call Option in Nifty –
Trade Entry – If Nifty Sustain Above Support (15360 ) You Can Buy ATM call Option –
Trade Target – For upside First Target for Nifty is 15450 and Second Target is 15530
Trade Stoploss – If any 30 min candle Closes Below 15330 or max . 20 Points
When to Buy Put Option in Nifty –
Trade Entry – If Nifty Sustain below 15330 or Closes any one Hour Candle below 15330
Trade Target – For Down side Tomorrow First Target for Nifty is 15200 and second target is 15000
Trade Stoploss – If any 30 min candle Closes Below 15360 or max . 20 Points –