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#Banknifty directions and levels for August 28th. Currently, Banknifty are moving in a diagonal pattern, which is a time adjustment pattern. This means the market may not rise significantly even if it breaks the previous high. However, it's important to note that if the market breaks this pattern on the downside, a minor correction could occur. Therefore, we should watch the market carefully. Now, let's look at the charts. Current View If the market finds support around the immediate support level or opens with a gap-up, the diagonal pattern is likely to continue. > Specifically, if the market finds support around the immediate support level or opens with a gap-up, it may consolidate between the downside level of 38% and the upside level of 51,460. > In this scenario, if Banknifty experiences a solid pullback and breaks the 51,460 level effectively, it may consolidate around 51,563 for further continuation. This means the rally is likely to continue. This is our first scenario. Alternate Scenario The alternate scenario suggests that if the market breaks the 38% Fibonacci level effectively, we can expect the next correctional targets to be between 50% and 61% on the downside.
NSE:BANKNIFTY
by Manickamtraders
NIFTY Intraday Trade Setup For 28 Aug 2024NIFTY Intraday Trade Setup For 28 Aug 2024 Bullish-Above 25080 Invalid-Below 25030 T- 25250 Bearish-Below 24950 Invalid-Above 25000 T- 24815 NIFTY has closed on a flat note today. We have discussed multiple times that index behavior since last many weeks is mostly trading inside 100 points range, today was another such day. 25100 zone may trigger some volatility as its a confluence zone for buyers and sellers. 25080 and 24950 are intraday levels for tomorrow. Tomorrow we can expect good move above or below today's high/low as daily candle is a spinning top. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 25080 then we will long for the target of 25250. For selling we need a 15 Min candle close below 24950. T- 24815. 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. ========== 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.
NSE:NIFTY
by Omahto
#Nifty directions and levels for the August 27th.Good morning, friends! 🌞 Here are the directions and levels for August 27th. Market Overview The global market has a bullish sentiment based on the Dow Jones. Meanwhile, our local market also exhibits bullish sentiment. However, today, the market may open with a gap-down start, as the SGX Nifty indicates a negative 40-point move as of 8:00 AM. In the previous session, the Nifty experienced a range breakout, which is structurally a positive sign. But today, the giftnifty indicates a negative start. So, what’s next? > the Nifty has minor consolidation structure followed by a breakout. Structurally, it should not take much of a correction. > Therefore, if the market opens negatively and finds support around the immediate support level, it may continue to consolidate within the previous day’s range. This is our first variation in this case. After that consolidation, if the market breaks the previous day's high, then the rally will likely continue. > An alternate variation suggests that if the gap-down sustains and breaks the 38% Fibonacci level solidly or with some consolidation, the market could potentially move further down to the 61% to 78%.
NSE:NIFTY
by Manickamtraders
Nifty Intraday Trade Setup | 26th AugustNifty opened with a gap-up, and saw follow-up buying above 24920 and Nifty made a high at 25043. We suggested buying Nifty CE in morning which gave move from 180 to 320. For tomorrow, buy Nifty if sustains above 25050 we expect to see an up-move towards 25090 and above levels. On the other side, if Nifty breaks 24960 on the downside we may see 24920 and lower levels marked the chart. Expectations: Volatile movement. Intraday Levels: Buy Above - 25050 Sell Below - 24960 To motivate us, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India
NSE:NIFTY
by InvestPro_India
1
#Nifty directions and levels for August 26th.Good morning, friends! 🌞 Here are the directions and levels for August 26th. Market Overview The global market has a bullish sentiment (based on the Dow Jones). Meanwhile, our local market is also maintaining a moderately bullish sentiment. Today, the market may open with a gap-up start, as the SGX Nifty indicates a positive 60-point move as of 8:00 AM. Both the Nifty and Bank Nifty showed consolidation in the previous session, so we are going to maintain what we observed previously. Let's look at this simply. Nifty > In the previous session, Nifty closed with a consolidation structure. Whenever the market consolidates, there is a high probability that it will follow the prevailing direction. > So, If the gap-up sustains and breaks the consolidation, it could reach a minimum of 24,890, which represents a resistance level. If the market sustains or breaks this level as well, then the rally will likely continue to 24,943. > In this scenario, if the breakout has a solid rally, it won't respect the supply zone (24,943); it will likely only take some consolidation. On the other hand, if the market reaches there gradually, it will act as strong resistance. > Alternatively, if the gap-up doesn't sustain or if the market declines initially, the 38% Fibonacci level will act as support. In this case, after the decline, if it finds support at the 38% level, the bullish bias is likely to continue. However, if it breaks the 38% level, it may fall further to the 50% level or swing low on the downside.
NSE:NIFTY
by Manickamtraders
NIFTY Intraday Trade Setup For 26 Aug 2024NIFTY Intraday Trade Setup For 26 Aug 2024 Bullish-Above 24870 Invalid-Below 24820 T- 25058 Bearish-Below 24770 Invalid-Above 24820 T- 24570 NIFTY has closed on a slight bullish note with over 1% gain last week. Index looks ready for a fresh ATH. Last week we discussed when NIFTY was @ 24540 that index is likely to fill the two gaps created in daily TF in the higher side. On Friday a Pin bar candle has been formed so above 24870 we will breakout of last two sessions and as per plotted ABCD, 25058 will be on cards. Below 24770 index may turn bearish in hourly TF and effect will be seen in coming days. Coming to Monday's trade setup, if index opens flat and a 15 Min candle close below 24870 then we will long for the target of 25058. For selling we need a 15 Min candle close below 24770. T- 24580. 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. ========== 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.
NSE:NIFTY
by Omahto
#Nifty Directions and Levels for August Last Week.Nifty and Bank Nifty Directions and Levels for August Last Week. Global Market Overview In the previous week, global markets experienced a long consolidation. By the end of the week, they closed with a solid green candle (based on the Dow Jones). Structurally, this indicates a positive bias; however, some events are on the horizon. If this support holds, our market will also take a bullish cue. Nifty Despite the market closing positively, there was significant consolidation. Structurally, it is a bullish market, so the upcoming session may see a slight increase. After that, if it encounters resistance around the minor supply zone or the all-time high, it may retrace by a maximum of 23% to 38%. Structurally, it shouldn't break this level. Once it finds support at this level, the rally will likely continue to the level of 25,232, which is our first variation. Alternate Variation: The alternate variation also resembles the current view, but there is a small difference that I will explain: - If the upcoming session takes a negative bias, it could result in a correction of 23% to 38% in the minor swing. After that, if it finds support, it may continue the rally, which looks similar to what I see in the current view. - However, if the correction breaks below the 38% Fibonacci level, it may turn into a correction phase. Why? Because the market is currently consolidating around the 78% Fibonacci level. This is a major resistance level for a ranging market as well as for a zigzag correction (Elliott Wave pattern). Once the market starts to correct from there, it may reach a minimum of 78% in the swing low for the minor swing. This is why I mentioned that.
NSE:NIFTY
by Manickamtraders
2
Nifty weekly analysis for 28/08/2024.Nifty is stuck in a range and has slowly recovered after a retest. Yet there were no opportunities for option buyers this week. If the market breaks out of the range, there are high chance of a fake out, as it has been rallying for last few days. Small quantities can be traded in a bullish trade. In case of break down, a good profit booking rally can be captured. Major levels :- 24870, 24960, 25050 The supports are nearby and market can reverse after testing the zones. Index seems strong and a double top formation can be seen this week. A bearish positonal trade can be created if there negative candlestick formation is there. Support levels :- 24740, 24600 Wait for the price action near the levels before entering the trade.
NSE:NIFTY
by Mambotrade
Nifty SpotDuring the week from August 19 to August 23, 2024, the Nifty 50 index displayed a steady recovery after a prior downtrend earlier in the month. The index began the week with a bullish momentum and closed on August 23 at 24,823.00 Key drivers behind this recovery included a robust performance from mid-cap and small-cap stocks, as well as contributions from sectors like banking and auto. Despite some cautious sentiments due to global uncertainties and anticipation surrounding Jerome Powell’s Jackson Hole speech, the overall trend remained positive. Key Levels marked. 25100 odd levels likely a hurdle..
NSE:NIFTY
by emraldconsul
#Nifty directions and levels for August 23.Good morning, friends! 🌞 Here are the directions and levels for August 23. Market Overview In the previous session, the global market fell slightly, but structurally it indicates a bullish bias (based on the Dow Jones). Meanwhile, our local market is also maintaining a moderately bullish sentiment. So, today, the market may open with a neutral to slightly gap-down start, as the SGX Nifty indicates a negative 5-point move as of 8:00 AM. We are going to look at what we saw in the previous session because both Nifty and Bank Nifty are maintaining the previous day's sentiment. Let's look at that simply. Nifty > In the previous session, Nifty opened with a gap-up, but by the end of the day, it closed with a consolidation structure. Whenever the market consolidates, there is a 60% probability of following the direction. So, as per this concept, we are taking our first direction based on this. > that's, If the market pulls back initially, it could reach a minimum of 24,890, which is a kind of resistance level. If the market sustains or breaks this level, then the rally will likely continue to the level of 24,943. > On the other hand, if it rejects sharply around the level of 24,890, it may enter a correction phase, with targets of a minimum 38% to 61% correction in the minor swing. > Alternatively, if the market declines initially, then the 38% Fibonacci level will act as support. In this case, after the decline, if it finds support at the 38% level, the bullish bias is likely to continue. However, if it breaks the 38% level, it may fall further to the 50% or swing low on the downside.
NSE:NIFTY
by Manickamtraders
NIFTY Intraday Trade Setup For 23 Aug 2024NIFTY Intraday Trade Setup For 23 Aug 2024 Bullish-Above 24880 Invalid-Below 24830 T- 25055 Bearish-Below 24780 Invalid-Above 24830 T- 24600 NIFTY has closed with slight gain of 0.17% gain today. It was another sideways day with less than 100 points range. Intraday momentum and trend is directionless although it is inching higher on closing basis. In the weekend we discussed possibility of both gap filling in daily TF. Since start of this week index is being pulled to those levels. VIX has to shoot up in order to get a directional trading opportunities in intraday. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 24880 then we will long for the target of 25055. For selling we need a 15 Min candle close below 24780. T- 24600. 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. ========== 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.
NSE:NIFTY
by Omahto
Nifty Intraday Levels | 22-AUG-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) #ThankU For Checking Out Our IDEA , We Hope U Liked IT 📌 🙏FOLLOW for more ! 👍LIKE if useful ! ✍️COMMENT Below your view !
NSE:NIFTY1!
by ReviveTraders
#Nifty directions and level for August 22nd.Good morning, friends! 🌞 Here are the directions and levels for August 22nd. Market Overview The global market is still maintaining a bullish bias. Meanwhile, our local market shows a moderately bullish sentiment. So, today the market may open with a neutral to slightly gap-up start, as the SGX Nifty indicates a positive 45-point move as of 8:00 AM. Nifty and Bank Nifty both have different structures, and their movements are also different. However, structurally, I expect a minor correction. Let’s take a closer look at the charts. Nifty In the previous session, Nifty had a minor pullback, but by the end of the day, it closed positively. Today, it may open with a gap-up due to the GiftNifty indication. after that, If the gap-up doesn't sustain or if it rejects around the 78% Fibonacci level, we can expect a minor swing correction of 23% to 38%. This is our first scenario. In this case, after the rejection, if it finds support at the 38% level, the bullish bias is likely to continue. However, if it breaks the 38% level, it may fall further to the 50% to 61% level on the downside. Alternatively, if the gap-up sustains and breaks the 78% Fibonacci level, the rally will likely continue. The important factor is the breakout structure; if it breaks with solid momentum, we can expect the next target at 24943. However, if it breaks with a grinding move, it won't reach that high.
NSE:NIFTY
by Manickamtraders
Nifty Intraday Support & Resistance Levels for 22.08.2024On Wednesday, Nifty surpassed the previous day’s high, reaching 24787.95 before closing at 24770.20, which is within the 75m Supply Zone mentioned in the last post. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways. Support Levels: Near Demand/Support Zone (125m): 24543 - 24605 Far Demand/Support Zone (30m): 24389 - 24443 Far Demand/Support Zone (75m) for Weekly Trade: 24204 - 24340 Resistance Levels: Near Supply/Resistance Zone (75m): 24754 - 24835 (current price is within this zone) Far Supply/Resistance Zone (125m): 24956 - 25031
NSE:NIFTY
by PriteshPal
#Nifty directions and levels for August 21st.Good morning, friends! 🌞 Here are the directions and levels for August 21st. Market Overview In the previous session, the global market moved in a consolidation phase, but structurally, it is still maintaining a bullish bias. Meanwhile, our local market shows a moderately bullish sentiment. So, today the market may open with a neutral to slightly gap-down start, as the SGX Nifty indicates a negative 30-point move as of 8:00 AM. If you look at the charts a bit more broadly, there has been a minor change in the Nifty and Bank Nifty charts. Nifty seems to be pushing up, but Bank Nifty is struggling. So, theoretically, this is a sign of consolidation. Let’s take a closer look at the charts. Current View Today's sentiment is similar for both the Nifty and Bank Nifty charts. > That,The market may open with a slight gap-down start, according to the SGX Nifty indication. So, after that gap-down, if the market finds support around the immediate support level, it may consolidate between the previous day's high and the immediate support level. > But, Even if it consolidates, structurally, it will continue the rally once it breaks the previous day's high. In this case, if it breaks the previous high without consolidation (like yesterday’s movement), the same bullish trend may continue further. Alternate View > The alternate scenario suggests that if the gap-down sustains and the market breaks the immediate support level solidly, then the correction could continue, with some minor bounce-backs. These are the two possible scenarios for today's session.
NSE:NIFTY
by Manickamtraders
Nifty Intraday Support & Resistance Levels for 21.08.2024On Tuesday, Nifty opened with a gap up and maintained its bullish momentum, reaching a high of 24734.30 before closing at 24698.85. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways. Support Levels: Near Demand/Support Zone (30m): 24389 - 24443 Far Demand/Support Zone (15m): 24204 - 24275 Near Demand/Support Zone (75m) for Weekly Trade: 23960 - 24077 Major Demand/Support Zone (Daily): 23350 - 23667 Resistance Levels: Near Supply/Resistance Zone (75m): 24754 - 24835 Far Supply/Resistance Zone (125m): 24956 - 25031
NSE:NIFTY
by PriteshPal
NIFTY Intraday Trade Setup For 21 Aug 2024NIFTY Intraday Trade Setup For 21 Aug 2024 Bullish-Above 24740 Invalid-Below 24690 T- 24960 Bearish-Below 24600 Invalid-Above 24650 T- 24390 NIFTY has closed on bullish note with 0.51% gain today. Buy triggered as per trade setup above 24650 and made a high of 24734, just after small rally of 45 Min it turned total sideways for the rest of the day. As stated in the weekend analysis that we are likely to fill the two gap areas in daily TF, one of them achieved today. Now fair chance of a reversal from the gap resistance area but will be confirmed below 24600 only. Above 24740 it will head towards 25k. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 24740 then we will long for the target of 24960. For selling we need a 15 Min candle close below 24600. T- 24390. 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. ========== 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.
NSE:NIFTY
by Omahto
#Nifty directions and levels for August 20th.Good morning, friends! 🌞 Here are the directions and levels for August 20th. Market Overview There haven't been any major changes in the global or local markets. Global markets have a bullish sentiment, while our local market shows a moderately bullish sentiment. So, today the market may open with a neutral to slightly gap-up start, as the SGX Nifty indicates a positive 25-point move as of 8:00 AM. In the previous session, Nifty closed with consolidation, so the previous sentiment may continue today as well. However, I will explain it simply. First, let's look at an alternate variation. Alternate Variation: The previous pullback was strong, that indicating a bullish trend. So, if the market breaks the previous high solidly or after some consolidation, we can expect the rally to continue. This is our alternate view. In this case, if the breakout has a solid structure, then the upcoming rally could be a long one, structurally forming a "flag pattern." On the other hand, if the breakout occurs with low volume, meaning if it breaks with some grinding, the upcoming rally could be smaller. Current View: The current view is similar to what we saw in the last session. If the market finds support at the immediate support level, it may continue to consolidate, and if this happens, it could break upward. But if it breaks the immediate support level strongly, then we can expect the correction to continue.
NSE:NIFTY
by Manickamtraders
3