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Niftytradesetup

NIFTY Budget day prediction for tomorrow 23 JUN Tomorrow is Budget Day; all of you must be very excited to trade it. Usually, there is not very good price action for such events. The market might take turns from pivotal points marked on the chart. If we look at the chart now: The market is trading at 50 EMA (1H-TF). The market also trades at a 0.5 Fib level. which might provide a good support zone. Support levels: 24500, 200 EMA, 24188, 23985 Resistance levels: 24570, 24820 If we look at the OI data: PCR = 0.90 shows the market has a bullish sentiment. 24500 is Max pain. Lower levels have significantly higher PE writing than CE writing on higher levels, making a bullish market structure. Tomorrow's market moment depends upon the budget announcement. Reason: RSI ~ 40 - 60 shows the market is in a sideways structure. Once Price breaks the range of 50 EMA and 200 EMA, it will decide the direction of the market. PCR = 0.90 indicates market-bullish sentiments. Price> VWAP shows a Bullish market structure. Verdict: Neutral Plan of action: Wait for 15 min candle. Wait for good price action on the 24500 levels, and make your positions accordingly.
NSE:NIFTY
by finnova_
Nifty Intraday Support & Resistance Levels for 22.07.2024On Friday, Nifty opened gap up at an all-time high of 24584.80 but did not sustain and fell more than 300 points from the top, closing at 24530.90. It did not respect any intraday demand zones mentioned in the earlier post due to heavy profit booking ahead of the Budget session scheduled for today. The weekly trend (50 SMA) remains overbought, and the daily trend (50 SMA) remains positive. Support Levels: Near support/demand zone (125m) for weekly trade: 24193 - 24357 Major support/demand zone (Daily): 24141 - 24461 Resistance Levels: Near supply/resistance zone (15m): 24741 - 24774 Near supply/resistance zone (75m) for weekly trade: 24774 - 24854.80
NSE:NIFTY
by PriteshPal
NIFTY Intraday Trade Setup For 22 Jul 2024NIFTY Intraday Trade Setup For 22 Jul 2024 Bullish-Above 24730 Invalid-Below 24680 T- 24930 Bearish-Below 24500 Invalid-Above 24550 T- 24290 NIFTY has closed on a flat note with a bearish sentiment as it ended the week near lowest point. It has not yet lost gains but sentiment has turned bearish. The coming week is likely to be volatile due to Union Budget placed on 23 Jul. One can avoid trading like we escaped Loksabha result week. In case 24730 is tested via gap up then it may face intra resistance. We will consider buy on pullback breakout setup only. 24730 and 24290 are levels for Monday. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 24730 then we will long for the target of 24930. For selling we need a 15 Min candle close below 24500. T- 24290. 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
19 Jul 2024 - The first real signs of tiredness, stance neutralNifty Stance Neutral ➡️ Nifty managed to only gain 14pts ~ 0.06% this week, but we hit a new ATH on all 4 working days. The new ATH is 24854, but before we talk about that - the price action of 18th Jul requires special mention. We fell 84pts ~ 0.34% between open & 09.35, then we went up 162pts ~ 0.66% by 10.11. We then fell again 173pts ~ 0.7% by 11.31 and then rose 332pts ~ 1.36% by 14.51. Down-up-down-up, we had 4 mutually contradicting price movements, these are not normal times & the traders who are facing these headwinds are not ordinary either. It really takes so much courage & inner peace to trade with a level head. The price action that followed today was a one way trip, a decent 346pts ~ 1.39% intraday fall after hitting a new ATH of 24854. The only reason I am going neutral from the bullish stance is because of the intensity of the fall today.  If we notice further weakness, I would not relent to go short as well. Honestly, going short has never worked for me in the past 1 year or so - the puts just eat the dust every single time. A bear run will wake up all those dreamers, thats what I feel.
NSE:NIFTY
by viswaram
#Nifty directions and levels for July 19th.Good morning, friends! 🌺🍬 Here are the directions for July 19th: In the last session, the Dow Jones fell drastically, indicating a negative bias. Our local market has a mixed bullish sentiment. Today, the market may open with a neutral to slightly gap-up start, as indicated by the Gift Nifty, which shows a +10 points. Nifty and Bank Nifty are showing different structures. Nifty has a solid bullish structure, while Bank Nifty is in consolidation. Let's look at this one by one. Nifty: In the previous session, Nifty had a huge movement at the end of the day, making a new high with a solid handle. What’s next? I will explain step by step to help you easily understand. Point 1: If you roughly look at the chart, it shows a solid bullish structure. You can expect the rally to continue if it breaks the previous high. This is the basic structure. Point 2: But even if made a new high with solid candle The RSI did not break the previous high in 4H, 1H, or even 15min. At the same time, the Dow Jones also fell drastically. Point 3: And if u look at the Bank Nifty it did not participate in this rally. but it has a consolidation. If it breaks the consolidation, it may help continue the rally. The probability is uncertain. Considering these three points, it’s complicated to conclude the direction. Here’s my opinion: if the market breaks the previous high and Bank Nifty supports it, we can enter a long position, which may yield better results. Alternatively, if there is a solid breakout candle, you can enter, but the decision is yours. This is our bullish variation. Bearish view: Alternatively, if the market declines initially, we could wait for the 38% Fibonacci level breakout. If it breaks, we can expect a correction of a minimum of 50% to 78%. On the other hand, if it doesn’t break 38%, then it will maintain the bullish bias.
NSE:NIFTY
by Manickamtraders
1
Nifty Intraday Support & Resistance Levels for 19.07.2024On Thursday, Nifty took support exactly at the 15m demand zone (24485 - 24516) mentioned in the last post, broke the previous high, and made a new all-time high of 24837.75 before closing at 24800.85. The weekly (50 SMA) and daily trends (50 SMA) are now overbought. Support Levels: Near support/demand zone (30m): 24599 - 24648 Far support/demand zone (30m): 24504 - 24560 Major support/demand zone (125m) for weekly trade: 24193 - 24357 Major support/demand zone (Daily): 24141 - 24461 There is currently no supply/resistance zone seen on the chart.
NSE:NIFTY
by PriteshPal
Nifty Trade Setup: Wave 4th Selling Opportunity, 1:7 RR Nifty Wave Analysis: July 18th 2024 Nifty is going up in extension after the June 4th crash. It clearly looks like Wave 3, and Wave 4 is about to begin. Short Entry : 24587 Stop Loss : 24680 Expected Destinations: 23862 (23.6%) 23370 (38.2%) And max 50% Wave 4 could be a sharp correction, but we can't ignore the possibility of a time-wise correction. Therefore, selling monthly CE with a hedge is safer or Short Nifty Future. Disclaimer: This is for educational purposes only and not for trading. Please do your own analysis before making any decisions.
NSE:NIFTYShort
by WaveMoku
#Nifty directions and level for July 18th.Good morning, friends! 🌺🍬 Here are the directions for July 18th: The global market has a bullish sentiment (based on Dow Jones). Our local market has a moderately bullish sentiment. Today, the market may open with a neutral to slightly gap-down start because the Gift Nifty indicates a 20-point decrease. Nifty: In the previous trading session, Nifty opened with a gap-up but did not rise much higher. Structurally, it is showing consolidation, which is likely to continue in the same direction. However, this will only happen if it breaks the previous high. Given that Gift Nifty suggests a gap-down opening today, the scenario changes slightly. So, If the market declines initially, we can expect a 23% to 38% level of correction. After that, if it finds support at these levels, the consolidation may continue. For a continuation, it must break the 38% Fibonacci level solidly. Alternatively, if the gap-down doesn't sustain and the market pulls back, we can expect consolidation until it breaks the previous high. If it breaks the previous high with a solid candlestick structure, a rally continuation is expected, with some consolidations around the resistance levels. On the other hand, if it doesn't break with a solid candlestick structure, the market may continue in a diagonal pattern, meaning it won't generate much premium today. (I have plotted a bow and tie pattern). Note: You can follow the same sentiment if it opens with a gap-up movement.
NSE:NIFTY
by Manickamtraders
Nifty Intraday Support & Resistance Levels for 18.07.2024On Tuesday, Nifty opened with a gap up and reached a new all-time high of 24,661.25 before closing at 24,613. The weekly trend (50 SMA) is overbought, while the daily trend (50 SMA) remains positive. Support Levels: Near support/demand zone (15m): 24,485 - 24,516 Far support/demand zone (30m): 24,331 - 24,395 Major support/demand zone (75m) for weekly trade: 24,056 - 24,150 There is no supply/resistance zone visible on the chart at the moment.
NSE:NIFTY
by PriteshPal
#Nifty directions and levels for July 16th.Good morning, friends! 🌺🍬 Here are the directions for July 16th: Global markets are maintaining their range (based on the Dow Jones). Our local market has a moderately bullish trend. Today, the market may open neutral to slightly gap-down, as indicated by GiftNifty, which shows a decrease of 13 points at 8:00 am. Nifty and Bank Nifty have different structures: Nifty indicates a moderately bullish bias, while Bank Nifty indicates a range-bound market. Let's look at each one. Nifty: In the previous session, Nifty maintained a gap-up sentiment, but there was no big movement. Based on the wave structure, it could be a 5th wave, meaning a distribution wave. So, today we might see an initial correction. This is our first variation. Alternatively, if the market pulls back and consolidates or breaks the supply zone, we can expect the rally to continue. in this case, If the market doesn't break the supply zone, it may consolidate between the supply zone and the 38% Fibonacci level in the minor swing. > Without breaking this 38% level, it may maintain a bullish bias. A correction is expected only if it breaks the 38% level in the minor swing. > that means, If it sharply rejects around the supply zone and breaks the 38% Fibonacci level in the minor swing, it may turn into a correction.
NSE:NIFTY
by Manickamtraders
Short term trading opportunity in Bajel products for 20% upsideHi, NSE:BAJEL has given a Bullish Flag Breakout on Daily charts with very good volume. MACD is also on the bullish side on Daily and Monthly time frames. RSI is also on the bullish side on daily, weekly and monthly time frames. In the current market scenario, I am expecting that the bullish momentum will continue. Complete price projection like entry, stop loss and targets mentioned on the charts for educational purpose. Don't Forget to Follow me to get all the updates. Please share your feedback or any queries on the study. Disclaimer: Please consult your financial advisor before making any investment decision.
NSE:BAJELLong
by raigvivek
short term trading opportunity in rana sugars for 20% upsideHi, NSE:RANASUG has given a Bullish Flag Breakout on Weekly charts with very good volume. MACD is also on the bullish side on Weekly time frames. RSI is also on the bullish side on daily, weekly and monthly time frames. In the current market scenario, I am expecting that the bullish momentum will continue. Complete price projection like entry, stop loss and targets mentioned on the charts for educational purpose. Don't Forget to Follow me to get all the updates. Please share your feedback or any queries on the study. Disclaimer: Please consult your financial advisor before making any investment decision.
NSE:RANASUGLong
by raigvivek
NIFTY Prediction for today 15 July 24As we discussed, NIFTY took support at 24344 and had a good bullish run, broke resistance, and sustained to the upside, showing a good bullish nature. If we look at the chart now: The market is trading in the uptrending parrell channel, which has HH and HL, which have a bullish structure. Support levels: 24429, 24128, 23985 Resistance levels: 24577 and Resistance trendline. If we look at the OI data: PCR = 0.86 shows the market has a bullish sentiment. 24500 is Max pain. Lower levels have significantly higher PE writing than CE writing on higher levels, making a bullish market structure. I am expecting the market to be sideways in the uptrend line channel. If the channel breaks down to the downside, a good bearish momentum can be seen till 24188. Reason: RSI > 60 shows the market has a bullish structure. Price > EMA(13, 50, 200), which indicates the bullish market. PCR = 0.86 indicates market-bullish sentiments. Price > VWAP shows a Bullish market structure. Verdict: Sideways or Bullish Plan of action: wait for 15 min candle. Wait for good price action on the 24500 levels, and make your positions accordingly.
NSE:NIFTY
by finnova_
#Nifty directions and levels for July 15th.Good morning, friends! 🌺🍬 Here are the directions for July 15th: The global markets are showing a slightly bearish sentiment (based on the Dow Jones). Our local market is maintaining a moderately bullish trend. Today, the market may open neutral or with a gap-up start, as indicated by GiftNifty, which shows an increase of 50 points at 8:00 am. Nifty and Bank Nifty have different structures: Nifty indicates a two-way move, while Bank Nifty indicates a range-bound market. Let's look at each one. Nifty has closed above the all-time high after seven consecutive consolidation sessions. This suggests a solid rally ahead on a normal trading day. However, with the upcoming budget event, even if the market breaks the all-time high again, it is unlikely to go much higher due to current sentiment rather than technical factors. > Based on this sentiment, if the gap-up sustains, we can expect a minimum of 24608 to 24644. After that, if the market rejects around the supply zone, we can expect a reversal of 38 to 78% in the Fibonacci sequence. This is our first variation. On the other hand, if the market doesn't reject there and consolidates, the rally will likely continue further. > Alternatively, if the gap-up doesn't sustain, it may range between the previous day's high and the 4th wave demand zone. In this sentiment, there is no big correction. The correction will continue only if it breaks 24420.
NSE:NIFTY
by Manickamtraders
2
Nifty Intraday Support & Resistance Levels for 15.07.2024On Friday, Nifty opened gap-up and made a new all-time high of 24,592.20 before closing at 24,502.15. The weekly trend (50 SMA) is overbought, and the daily trend (50 SMA) remains positive. Support Levels: Near support/demand zone (15m): 24,331 - 24,384 Far support/demand zone (5m): 24,201 - 24,235 Major support/demand zone (75m) for weekly trade: 24,056 - 24,150 Resistance Levels: Near small supply/resistance zone (15m): 24,560 - 24,580
NSE:NIFTY
by PriteshPal
NIFTY Intraday Trade Setup For 15 Jul 2024NIFTY Intraday Trade Setup For 15 Jul 2024 Bullish-Above 24600 Invalid-Below 24550 T- 24780 Bearish-Below 24450 Invalid-Above 24500 T- 24275 NIFTY has closed on a slight bullish note with 0.73% gain last week. On 10 Jul it closed below PDL so as per the method we were following to ride the bullish move is now invalid. But now lets come to the 2nd validation point. Now if at all there is a bearish price action in daily TF then we will call it bearish and a confirmed reversal. Also this reversal confirmation will be updated through these trade setups. 24600 and 24450 are levels to watch out for tomorrow. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 24600 then we will long for the target of 24780. For selling we need a 15 Min candle close below 24450. T- 24275. 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