Niftytradesetup
#Nifty directions and level for August 29th.Good morning, friends! 🌞 Here are the directions and levels for August 29th.
Market Overview
The global market is moving in a consolidation structure, and it has a bullish sentiment based on the Dow Jones. Meanwhile, our local market is showing a moderately bullish sentiment. However, today, the market may open with a neutral to slightly gap-down start, as the SGX Nifty indicates a negative 50-point move as of 8:00 AM.
In the previous session, again, the situation was that even though the market broke the previous high, it didn't sustain that level in the Nifty. The Bank Nifty's story is totally different; there hasn't been as much of a pullback compared to the Nifty; however, it maintained its range.
> So, what about today? The first thing is that Gift Nifty is showing a negative start, which is a slightly negative sign for the previous bullish trend. Because the previous bullish trend was moving diagonally, we can interpret this in two ways: as time adjustment or as a potential reversal. So, if today’s gap-down sustains, then it may go a little further down. I will explain this on the charts—let's jump into them.
Nifty
Current View:
> If the market opens with a gap-down, then it may take a bounce back of 23% to 38% around 24,983 or 24,943. Even if this happens, structurally it won’t sustain. Once it rejects there, then the correction will likely continue. This is our first variation.
> In this case, if it consolidates around the immediate support level, the same bearish sentiment will continue.
Alternate View:
Alternatively, if the initial market takes a solid bounce back and breaks the 38% Fibonacci level in the minor swing, then it may turn into a range market between the previous day's range.
NIFTY Intraday Trade Setup For 29 Aug 2024NIFTY Intraday Trade Setup For 29 Aug 2024
Bullish-Above 25130
Invalid-Below 25080
T- 25350
Bearish-Below 24950
Invalid-Above 25000
T- 24770
NIFTY has closed almost on a flat note with slight gain of 0.14% today. It is making a parallel channel however its rising so ideally it will give best momentum in the downside if lower trendline breakout happens. However there is equal probability of breakout in the upside too. Also any daily candle close below PDL will change sentiment to bearish till then approach will be sideways to bullish.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 25130 then we will long for the target of 25350.
For selling we need a 15 Min candle close below 24950. T- 24770.
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.
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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.
#Nifty directions and levels for August 28th.Good morning, friends! 🌞 Here are the directions and levels for August 28th.
Market Overview
The global market is showing a bullish sentiment, as reflected by the Dow Jones. Meanwhile, our local market is displaying a moderately bullish sentiment. However, today's market may open with a neutral to slightly gap-down start, as the SGX Nifty indicates a negative 10-point move as of 8:00 AM.
Currently, both Nifty and 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, Nifty may move within the previous day's range. If it then breaks the all-time high, it could reach a minimum of 25,112 to 25,155.
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.
#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.
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.
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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.
#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%.
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
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InvestPro India
#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.
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.
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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.
#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.
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.
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..
Nifty for the week starting 26th August to 30 August 2024Nifty has been consolidating between 24860 and 24750. Any break below or above it will fetch 500 points.
Buy above 24860 and sell below 24750.
The prices mentioned above are for spot nifty.
I am not a SEBI approved analyst.
You may do a self analysis before entering into the trade.
#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.
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.
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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.
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)
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#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.
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
#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.
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