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#Nifty directions and levels for August 13th.Good morning, friends! 🌞 Here are the directions and levels for August 13th. Market Overview Both global and local markets have been trading within a minor range. Today, the market may open with a neutral to slightly gap-down start because the SGX Nifty is indicating a negative 20-point move. Nifty Analysis Nifty showing a diagonal pattern. In the previous session, nifty had significant swings, but it closed near neutral by the end of the day. If we simplify it, we can say it's a range market. However, structurally, it’s a diagonal pattern, and there’s no real difference between the two because both are time adjustment patterns. So, we should wait for a breakout from this range, whether to the upside or downside. If it breaks out, we can expect only a minor trend initially because the structure suggests there isn’t a big move ahead. But if we see a solid breakout candle, then we can expect stronger momentum. This forms our basic structure. However, if the range isn’t broken, the market will likely continue moving within it.
NSE:NIFTY
by Manickamtraders
Nifty Intraday Support & Resistance Levels for 13.08.2024On Monday, Nifty opened with a gap down but managed to recover over 250 points from the day's low, reaching a high of 24472.80 before closing slightly lower at 24347, down by 20 points. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways. Support Levels: Near Demand/Support Zone (15m): 24219 - 24266 Far Demand/Support Zone (15m): 24079 - 24118 Near Demand/Support Zone (75m) for Weekly Trade: 23960 - 24077 Major Demand/Support Zone (Daily): 23350 - 23667 Resistance Levels: Near Supply/Resistance Zone (30m): 24686 - 24745 Far Supply/Resistance Zone (75m): 24754 - 24835
NSE:NIFTY
by PriteshPal
Nifty Intraday Levels | 12-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 levels for August 12th.Good morning, friends! 🌞 Here are the directions and levels for August 12. Market Overview Both global and local markets have been trading within a minor range. Today, the market may open with a neutral start because the SGX Nifty is indicating a positive 5-point move. Nifty and Bank Nifty share the same range-bound market sentiment. Let's take a closer look: In the previous session, both Nifty and Bank Nifty closed with consolidation after a significant gap-up. If the market breaks the previous high, then we can expect a minor rally, but not a big one. A big rally is expected only if the breakout occurs with a solid green candle and some consolidation around the immediate resistance level. However, if this doesn't happen, the market may reject at that level and continue in its current range, which is our first scenario. Alternatively, if the market initially declines, the 38% Fibonacci level will act as a key support. If the market finds support there, the range-bound movement may continue. On the other hand, if it breaks below the 38% level, we can expect the correction to continue.
NSE:NIFTY
by Manickamtraders
NIFTY Intraday Trade Setup For 12 Aug 2024NIFTY Intraday Trade Setup For 12 Aug 2024 Bullish-Above 24420 Invalid-Below 24370 T- 24640 Bearish-Below 24300 Invalid-Above 34350 T- 24080 NIFTY has closed on with 1.42% cut last week. However it has formed a Pinbar candle in weekly TF which shows that bulls tried gripping once again after sharp drop due to global cues. Above 24420 bulls will try to take take charge however I doubt the momentum in favor. 23900 is an important market structure level in daily TF below which it will confirm a bearish trend in short term. Overall market looks sell on rise. Friday's candle is an indecision candle, high/low being trigger point. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 24420. T- 24640 and 24855. For selling we need a 15 Min candle close below 24300. T- 24080. 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 3rd week of August.Good evening, friends! 🌺🍬 Here are the market directions for the 3rd week of August: Global Market Overview In the previous week, global markets experienced a consolidation after a sharp decline, which indicates that the market is structurally bearish. So, what about this week? My expectation is that the bearish sentiment might continue because the US market will release PPI and inflation data, which could be a key factor in determining the next direction. Nifty and Bank Nifty Last week, Nifty and Bank Nifty saw significant ups and downs, but this movement happened within a range. So, what about this week? Let's break it down. As per the chart, both Nifty and Bank Nifty have a similar range-bound structure. However, the market closed at the top of this range by the end of the week. So, if the market starts with a bullish bias, it may reach the swing high once again. This is because, as we mentioned in the previous post, if the market breaks the 50% level in the minor swing, it will lose the strength of the current trend. If this happens, it may reach the Fibonacci levels of 61% to 78% on the upside. However, there are two variations for the bullish sentiment. For Nifty: 1. First Variation: If the initial day's candle closes with a solid bar, then the market may continue the pullback with minor consolidation around the Fibonacci level of 61% in the upcoming sessions. 2. Second Variation: If the market faces rejection around the top of the channel or if the week starts with a negative candle, then the range-bound market may continue further. Why did I mention the diagonal pattern? (Second Variation:) because the previous structure also looks like an expanding diagonal, and the pullback also broke the 38% level. So, both conditions suggest a minor reversal. However, don't expect a major move because a diagonal is an accumulation pattern when it forms at the bottom of a trend, so it could take some time for the next movement. The Bearish Variation: The bearish variation suggests that if the market potentially breaks the channel, then it may continue the correction. There are some minor levels to watch, which is typical. If the market breaks the 38% level in the minor swing, we can expect the next target to be 78%. It may resemble a diagonal pattern, but there is a key difference: > that, if the correction follows this variation, the decline could be sharp and fast. > However, a diagonal typically doesn’t have much volume and usually faces rejection before the channel breakout.
NSE:NIFTY
by Manickamtraders
2
Nifty Intraday Support & Resistance Levels for 12.08.2024On Friday, as expected, Nifty opened with a gap-up and maintained its strength throughout the day, closing at 24367 with a 250-point gain. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways. Support Levels: Near Demand/Support Zone (15m): 24079 - 24118 Near Demand/Support Zone (75m): 23960 - 24077 Major Demand/Support Zone (Daily): 23350 - 23667 Resistance Levels: Near Supply/Resistance Zone (30m): 24686 - 24745 Far Supply/Resistance Zone (75m): 24754 - 24835
NSE:NIFTY
by PriteshPal
Nifty Intraday Levels | 9-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 levels for August 9th.Good morning, friends! 🌞 Here are the directions and levels for August 9th. Market Overview Both global and local markets have been trading within a minor range. Today, the market may open with a gap-up, as indicated by a 250-point positive start in GIFT NIFTY. Nifty and Bank Nifty share the same range-bound market sentiment. Let's take a closer look: Nifty: In the previous session, Nifty experienced some minor oscillation due to the monetary policy. However, it closed within Tuesday's range. Structurally, it remains a range-bound market. > According to Elliott Wave theory, we expect three swings in this range-bound market. With two swings already completed, we are anticipating a third one. > In today’s market, after the gap-up, if it encounters resistance around the immediate resistance level, it may lead to a correction. if it happens, The corrections are expected to range between 38% to 78% of the minor swing—this is our first scenario. >In this case, if it consolidates or breaks solidly (at the 61% Fibonacci level on the upside), then the rally will likely continue. Alternatively, if the gap-up doesn’t sustain or if it rejects around the previous high, the range-bound market will likely continue. Structurally, it could form a triangle pattern. However, trading in range-bound market movements can be somewhat challenging, and premiums may also be affected.
NSE:NIFTY
by Manickamtraders
Nifty Intraday Support & Resistance Levels for 09.08.2024On Thursday, Nifty opened gap down, re-entered the 30m Supply zone mentioned in the last post, and fell again to the day's low, almost touching the 75m (Weekly Trade) Demand zone before closing at 24117. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) has turned sideways. Support Levels: Near Demand/Support Zone (75m): 23960 - 24077 Major Demand/Support Zone (Daily): 23350 - 23667 Resistance Levels: Near Supply/Resistance Zone (15m): 24284 - 24337 Far Supply/Resistance Zone (30m): 24686 - 24745 Far Supply/Resistance Zone (75m): 24754 - 24835 Note: As of writing this, GIFTNIFTY is trading 275 points positive, indicating we might see a gap-up opening.
NSE:NIFTY
by PriteshPal
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.
NSE:NIFTY
by Stable_Logic
DECODING NIFTY50's NEXT MOVES - A PROFIT BOOKING COMING SOON ?Nifty50 is continuously hitting fresh record highs at a faster pace tirelessly. There is definitely strong momentum by bulls towards upside but at the same time we can't deny the fact the there's a thing called 'Valuations' which are hinting that markets are modestly overvalued. The run after breakout of 23500 has been tremendous & we have seen Nifty gained more than 1000 points back to back but as per my experience and my view, A profit booking & retracement is pending the the market. So, with that view, I am creating short positions in Nifty far month futures (as premiums are much more there) at CMP 24620. I will add more position between 24800 - 24900 & will hold this position with SL above 25K. I am expecting markets to witness a strong profit booking in coming sessions as markets are extremely overbought already & budget is scheduled in next week. Any negative news in or related to union budget will trigger strong profit booking in market. I have also mentioned targets for my short position in the chart above & tried to decode Nifty's trend for months to come. Let's see what time will show us.
NSE:NIFTYShort
by akshit_official
6