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#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 PriteshPalan
#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 PriteshPalan
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
#Nifty directions and levels for August 19th.Good morning, friends! 🌞 Here are the directions and levels for August 19th. Market Overview Global markets have a bullish sentiment, while our local market shows a moderately bullish sentiment. So, today the market may open with a gap-up start, as the SGX Nifty indicates a positive 80-point move as of 8:00 AM. Nifty and Bank Nifty share the same sentiment today, so let’s look at that. In the previous session, Nifty had a solid pullback, so structurally, we can expect a bit more continuation. However, since the SGX Nifty has already accounted for those points with a gap-up start, if the initial market declines or faces rejection around the resistance level (61%), then we can expect a minimum retracement of 23% to 38%. After that, if it finds support, the bullish bias is likely to continue. However, if it breaks the 38% level, it may fall further to the 61% level on the downside. >> (If you can understand this point, use it; otherwise, please avoid it—it’s not a big deal. I stopped at the 61% level because I mentioned the proper Fibonacci swing in the weekly analysis. Mostly, if it breaks 38% , then it will respect the overall 38% Fibonacci level. If I had made a video, it would be easier to understand, but I didn’t. So Simply , if today’s market breaks the 38% level in the minor swing, then go and read the weekly Nifty post. That might help you understand where to take the proper Fibonacci levels.) Alternatively, if the market sustains or breaks the 61% resistance level, then the rally will likely continue to the 24,713 level, which is a kind of resistance. As per the structure, this will act as a minor resistance.
NSE:NIFTY
by Manickamtraders
Nifty Intraday Support & Resistance Levels for 19.08.2024On Friday, Nifty opened with a gap up and remained bullish throughout the day, closing at 24541.15 with a gain of 397 points. Keep a close watch on the 61.8% Fibonacci retracement level at 24625, as Nifty may face resistance there. A strong breakout above this level with volume could lead to a rally towards the 75m Supply zone starting at 24755. The weekly trend (50 SMA) is positive, while the daily trend (50 SMA) remains 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 Resistance Level: 24625 (61.8% FIBO Retracement) Near Supply/Resistance Zone (75m): 24754 - 24835 Far Supply/Resistance Zone (125m): 24956 - 25031
NSE:NIFTY
by PriteshPalan
Bullish Outlook for Nifty: Key Levels to Watch "In the last trading session, Nifty broke through a significant resistance level at 24472, hinting at a positive momentum shift. Currently, there is a substantial Open Interest (OI) of 45 lakh at 24500, which solidifies this level as a new support. With the market holding firm above 24550 and OI beginning to accumulate at 24600, we might be gearing up for a strong push towards the 24700-24800 range. However, traders should be cautious: a dip below 24472, especially if Nifty falls under 24450, would negate our bullish thesis, making long positions less attractive. This analysis is supported by the attached screenshot showing the latest OI and price action dynamics. Join me in monitoring these pivotal developments as we prepare for Monday's session."
NSE:NIFTYLong
by strategystack
#Nifty directions and levels for August 4th week.Good evening, friends! 🌺🍬 Here are the market directions for the 4th week of August: Global Market Overview In the previous week, global markets had a solid bullish bias. However, this week, a few important events like the FOMC minutes, the Fed Chair's speech, and Initial Jobless Claims are on the horizon. So, the market may move based on these data releases. As per the chart structure, I'm expecting a bullish bias. Nifty and Banknifty Last week, both Nifty and Banknifty experienced significant swings, but these movements stayed within a range. Structurally, it's a range-bound market. So, if the market breaks out of this range, we can expect the next movement. Until then, the market will likely continue within the range. However, the global market is indicating a bullish bias, so if that plays out, we can expect the pullback continuation. But I started with a bearish bias because the structure suggests it. Let’s look at the charts. Structurally, both Nifty and Banknifty represent the same sentiment: Nifty - Current View: If Nifty starts with a bullish bias in the upcoming session, then it may face rejection around the 61% Fibonacci level. If that happens, it may retrace a minimum of 23% to 38%. After that, if it finds support around the 38% level, the bullish sentiment will continue, and we can expect a rally once it breaks the previous high again. On the other hand, if it breaks below the 38% Fibonacci level, it may enter a correction phase. The correctional targets are expected to be a minimum of 61% to 78%. This is our first variation. Alternate View: The alternate view suggests that if the initial pullback sustains or breaks the 61% level, then the rally will continue with some minor consolidation. In this case, the targets are expected to be a minimum of 24,713 to 78%. If the rally faces rejection around the 78% level, we can expect a minor correction of 23% to 38%. This correction is minor.
NSE:NIFTY
by Manickamtraders
Nifty Intraday Trade Setup | 19th AugustNifty opened with a gap-up, saw profit booking in morning which dragged Nifty near our buy zone 24200. Nifty took support and we saw sharp rally towards 24563. For tomorrow, buy Nifty if sustains above 24530 we expect to see some up-move towards 24580 and above levels. On the other side, if Nifty breaks 24400 on the downside we may see 24350 and lower levels marked the chart. In case Nifty opens with Gap-up let it sustain above 24600 for fresh buying. Expectations: Volatile movement. Intraday Levels: Buy Above - 24530 Sell Below - 24400 To motivate us, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India
NSE:NIFTY
by InvestPro_India
2
16 Aug 2024 - Change in Stance to Bullish, Nifty up 174ptsLast week we discussed how Nifty was still in the bearish stronghold and then a break above 24389 was mandatory for a change in stance. 09 Aug 2024 - Nifty down 334pts, makes a 61.8% This week, Nifty not only broke the 24389 ~ 61.8% retracement level but went ahead and broke the 24525 ~ 78.6% level too. This double break has prompted me to go bullish, but there is one catch - BankNifty is still flat though. The momentum has come from the IT sector this time. On Friday, 16th alone - we had an intraday rally of 359pts ~ 1.49%. I thought the Monkey Pox (mpox) news might weigh in and the markets may remain flattish, but the rally still continues to amuse me.  Regarding the mpox, I was quite worried about the below article from WHO. How many of you think we may have another round of lockdown? This time the public may turn against the government for ruining their livelihood and enforcing vaccine mandates. Markets are not pricing in this news yet, or the news has probably not reached the threshold to create panic. I also feel the US markets may react first and then us. "WHO Director-General declares mpox outbreak a public health emergency of international concern" Nifty has managed to go up 174pts ~ 0.72% for this current week, the ATH is still 500pts away but the bullish momentum may help us close the gap. I personally feel we may not go higher than 24800 till the 22nd. Our stance is bullish.
NSE:NIFTYLong
by viswaram