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NIFTY Intraday Trade Setup For 2 Sep 2024NIFTY Intraday Trade Setup For 2 Sep 2024 Bullish-Above 25270 Invalid-Below 25220 T- 25492 Bearish-Below 25190 Invalid-Above 25240 T- 25025 NIFTY has closed on a slight bullish note with 1.66% gain last week. Last week we kept weekly outlook sideways to bullish which worked more or less fine. Since it gave a fresh breakout of previous ATH this week. If at all a bearish candle will be formed in weekly TF, this will lead to a false breakout and a possible top in the coming days. 25270 and 25190 are intra levels for tomorrow. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 25270 then we will long for the target of 25492. For selling we need a 15 Min candle close below 25190. T- 25025. 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 level for September first week.Nifty and Bank Nifty Directions for the First Week of September Global Market Overview The global market hasn't changed much and continues to trade within a range, so the overall sentiment remains positive. However, there are a few events this week that need to be monitored closely. Our Market: In the previous week, both Nifty and Bank Nifty closed with positive candles, suggesting that this momentum may continue this week. Meanwhile, there are no major events in our local market, which could indicate that there might not be significant moves on the downside. However, we should check the charts for more clarity. Nifty: In the previous week, Nifty moved solidly, but most of the gains occurred in the initial movements. What about this week? Current View: Structurally, if the market breaks the supply zone solidly, then the rally will likely continue to the level of 25,537 with minor consolidation. This is our first scenario. If this happens, it could signify the continuation of the 3rd sub-wave. Alternate View: > The alternate view suggests that if the market faces rejection around the minor supply zone (25,377) or if this week starts with a negative candle, we can expect a correction of 23% to 38% in the minor swing, potentially indicating a 4th sub-wave. > The correction may not be deep, so if it reaches the downside 38% Fibonacci level, the rally could continue further. However, if it breaks below the 38% level, we might need to reconsider our direction.
NSE:NIFTY
by Manickamtraders
6
Weekly Market Forecast: Nifty & Bank Nifty Set for Major Moves!Nifty and Bank Nifty are poised for a strong upside move if they break their respective resistance. Nifty Resistance : 25300 - 25500 , Above this should open doors for 25800-26200 levels soon!! If Nifty does not clear 25500 then it will be considered as double top pattern. Currently Nifty is also showing negative divergence in daily chart. Bank Nifty has given a trendline breakout, looking for a strong movement above its resistance zone 51400 -51700, above this it will try and test previous ATH levels. if fails then should see 50990-50500 levels again.
NSE:BANKNIFTYLong
by Nimble_Pesos
#Nifty directions and levels for August 30th.Good morning, friends! 🌞 Here are the directions and levels for August 30th. Market Overview The global and local markets are still maintaining their current sentiments. Globally, the market is in a consolidation phase with a bullish outlook, supported by the Dow Jones. Locally, the market shows a moderately bullish sentiment. Today, the market may open with a neutral to slightly gap-up start, as the SGX Nifty indicates a positive 40-point move as of 8:00 AM. > Both Nifty and Banknifty are still adjusting to their time patterns. Nifty is following an expanding diagonal pattern, while Banknifty is moving within a range. > Currently, Nifty is setting up for its next movement, but Banknifty is not yet aligning with this direction. We can expect a similar sentiment today due to the structural patterns. > However, if Banknifty breaks to the upside decisively, it could lead to a long rally for both Nifty and Banknifty, as Banknifty has been consolidating after a long rally and might be forming a flag pattern. Today's Charts Nifty Current View: The gift Nifty indicates a slightly positive start. If the market opens with a gap-up, it may reach the supply zone on the upside. If the market consolidates there or breaks through the supply zone decisively, the rally is likely to continue. This is our first scenario. However, considering the diagonal pattern, there is also a possibility of rejection. I will outline this in the alternate view. Alternate View: If the market initially declines or experiences a rejection at the supply zone, a correction of 23% to 38% may follow. Should the market break below the 38% Fibonacci level, it could continue in an expanding diagonal structure, with a potential correctional target of 61% to 78%. Conversely, if the 38% Fibonacci level holds, the market may sustain its bullish bias.
NSE:NIFTY
by Manickamtraders
NIFTY Intraday Trade Setup For 30 Aug 2024NIFTY Intraday Trade Setup For 30 Aug 2024 Bullish-Above 25200 Invalid-Below 25150 T- 25390 Bearish-Below 24950 Invalid-Above 25000 T- 24770 NIFTY has closed on a bullish note with 0.4% gain today. It was a full volatile session especially post 1 PM. Since last many days it was comfort for option sellers, today it backfired. For me index is still sideways to bullish so follow the same approach till PDL is safe in closing basis. If daily candle closes below PLD then sentiment will turn bearish and sell on rise approach will be suited after a bearish reversal structure. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 25200 then we will long for the target of 25390. 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. ========== 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
CNXIT Levels // 25 MinHello Everyone 👋 Current Market Overview Current Level: 41,089.85 Market Sentiment: The IT sector has been showing mixed signals with some volatility due to global economic factors and earnings reports. Support Levels 40,800: This is the first major support level. If the index falls below this, it could indicate a bearish trend. 40,500: A stronger support level. Breaching this could lead to a significant downward movement. Resistance Levels 41,300: The first resistance level. Breaking above this could signal a bullish trend. 41,600: A stronger resistance level. Surpassing this could lead to a sustained upward movement. Indicators to Watch Moving Averages: Keep an eye on the 50-day and 200-day moving averages for trend confirmation. Relative Strength Index (RSI): An RSI above 70 indicates overbought conditions, while below 30 indicates oversold conditions. MACD (Moving Average Convergence Divergence): Look for crossovers to identify potential buy or sell signals. Recent News and Events Earnings Reports: Recent earnings reports from major IT companies can impact the index. Global Economic Factors: Changes in global economic policies, especially in the US and Europe, can influence the IT sector. Trading Strategy Tips
NSE:CNXIT
by SkyTradingZone
#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.
NSE:NIFTY
by Manickamtraders
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. ========== 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 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.
NSE:NIFTY
by Manickamtraders
#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 TheMamboMomentum