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Niftytradesetup

30 May 2024 - Nifty did not break the 22519 decisively, bearish Over the last 1 week, Nifty hits a new ATH of 23110 and falls 3% ~ 693pts. On a week-2-week basis, we have only fallen 395pts ~ 1.72%. What is more important is that we have started a nice reversal, what needs to be seen is if we get a stronger fall this time. On every other occasion, the dip buyers emerged and ensured our indices were continuing the one-way trip i.e. upwards. Usually, every bull run will have a healthy correction, but in our case - we never even had a decent fall.  Yesterday we went short on Nifty and stayed neutral on BankNifty. Quite happy to see those trades went quite well. Nifty went all the way down to 22417 before retracing the support level of 22519 to close above. If we closed below 22519 today - it would have given a lot of confidence to the bears. Nevertheless, our view still remains bearish for Nifty and neutral for BankNifty. The real momentum should pick up once BN also joins N50 by breaking its support of 48661.
NSE:NIFTYShort
by viswaram
NIFTY prediction for tomorrow 31 May 24As we discussed, Nifty had a bearish structure; It has fallen by 287 points. If we look at the chart now: The market is trading in the bearish zone below 200 EMA. The market has taken support from the 0.50 Fib level while making a Morningstar pattern with a very nice volume spike. Price is trading below EMAs, showing a weak bull structure. If we look at the OI data: PCR = 0.53, which has fallen from 0.63, shows a market bearish structure. 22500 is going to be MaxPain. There is significantly more CE writing than PE writing, which shows that, right now, big players are just pushing the market to the downside. I am expecting: Case 1: Inside the Orange trendline, the market is going to be sideways in the range 22465-22613. Case 2: If the market breaks 22465 to the downside, we might see more bearishness to lower levels of 22200. Reasons: RSI < 40 falling from the upside shows a good bearish strength. RSI showing Bullish divergence. Price < EMA(13,200), which indicates a bearish market. The market has formed a lower high lower low structure in 15-min TH that indicates the market is bearish unless the market tends to form a Higher-High. PCR = 0.53 indicates huge bearishness. Price < VWAP shows that a weak market structure can lead to a bearish market. The market is making Morningstar star, which might force the market to hold the 22465 level. Verdict: Bearish or Sideways Plan of action : Case 1: Sideways: Sell 22450 PE & 22650 CE (Hedge it with 30/-) Case 2: Bearish: 22400 CE (Hedge it with 30/- CE) if the market continues bearish momentum.
NSE:NIFTY
by finnova_
6
#Nifty Directions and levels for May 30th.Good morning, friends! 🌺🍬 Here are the directions for May 30th: The global market continues to show a bearish sentiment based on the Dow Jones, while our local market also shows a bearish trend. Today, the market may open with a slight gap-down, as indicated by GiftNifty, which shows a decrease of 70 points. But, I'm not sure if this is due to global issues or contract rollover with GiftNifty. Anyway, let's look at the Nifty direction. Nifty has fallen with some minor swings. If the market opens with a gap-down, then the 38% Fibonacci level might act as a strong support. If it finds support there, then we can expect a pullback of 23 to 38% max. It could be a minor retracement, and if it gets rejected there, then the correction will likely continue. On the other hand, if the pullback structure has a solid candle formation, it might break the 38% Fibonacci level(upside). If it breaks, then we can expect 50 to 61% for the next target. If we want to state this more clearly, it may turn into a range between the upcoming low and the 61% Fibonacci level. This sentiment is also applicable for a neutral to gap-up situation because, as I mentioned, I don't know exactly why GiftNifty is showing a negative sentiment. The alternative scenario is if the gap-down sustains and breaks the immediate support with some consolidation or immediately, then the correction will likely continue.
NSE:NIFTY
by Manickamtraders
Bullish Flag Breakout in SJVNIntroduction: SJVN Limited, a Mini Ratna, Category-I and Schedule –‘A’ CPSE under administrative control of Ministry of Power, Govt. of India, was incorporated on May 24, 1988 as a joint venture of the Government of India (GOI) and the Government of Himachal Pradesh (GOHP). SJVN is now a listed Company having shareholders pattern of 55.00% with Govt. of India, 26.85% with Govt. of Himachal Pradesh and rest of 18.15% with Public. The present paid up capital and authorized capital of SJVN is Rs. 3,929.80 Crore and Rs. 7,000 Crore respectively. The Net Worth as on 31.03.2023 is Rs.13821.97 Crore. Analysis A Weekly Bullish Flag and Pole pattern is visible on the charts of NSE:SJVN The Flag and Pole pattern is a bullish continuation pattern and it is visible in charts after a meaningful appreciation in the price. MACD gave Positive crossover on Daily, Weekly and Monthly chart. So, expecting the momentum to continue. One can create a fresh position in the scrip near Rs.78-81 levels with the stoploss of Rs. 70 on weekly closing basis for the following targets 85.15, 89.25, 96.05, 100.15, 105.65,111.50 and 116 Risk Disclaimer: The trading ideas and analyses presented here are for educational purposes only and do not constitute financial advice. Trading and investing in financial markets involve risk. You should carefully consider your own financial situation, risk tolerance, and investment objectives before making any investment decisions. The information provided in this analysis is based on my personal interpretation of market conditions and the available data at the time of writing. It is subject to change without notice, and I cannot guarantee the accuracy, completeness, or timeliness of the information provided. Trading and investing carry the risk of substantial losses, and past performance is not indicative of future results. Always be aware that markets can be unpredictable, and prices may move against your trade or investment. It is advisable to seek advice from a qualified financial professional and to conduct your own research before making any investment decisions. You should only invest funds that you can afford to lose. I am not responsible for any trades or investments made based on the information presented in this analysis. By reading and using this information, you acknowledge and accept that you are solely responsible for any losses you may incur.
NSE:SJVNLong
by raigvivek
29 May 2024 - 22781 broken and we just went bearishOver the last 2 sessions, we tried to explain why we would have to go directly to bearish from bullish. One of the reasons was that we fell below the level that had 2 double tops in April & May. Secondly, there were no additional support/resistance points in between for a neutral zone. What I am not sure about is, whether we can continue the downward momentum, especially because June 4th is less than a week away. If BJP wins back the 3rd time, the markets should outperform. If they get a lower number of seats - we may lose a lot of ground. Hope my direction is right just in time, over the last 5 to 6 months, my directional strategies were just eating the dirt and bleeding RED. I am also quite aware that a move of 1000+ points could level the mounted losses. For tomorrow we wish to start with a bearish tone and go long if 22781 is breached in the 63mts TF.
NSE:NIFTYShort
by viswaram
NIFTY prediction for tomorrow 30 May As we discussed, Nifty had a bearish structure; It has fallen by 187 points. If we look at the chart now: The market is trading in the bearish zone. The market is trading near the 0.38 fib level, which might provide a good support zone. But I am expecting the market to further go down till fib 0.50 (22481) levels. All the important levels have been marked on the chart. If we look at the OI data: PCR = 0.65 shows a market bearish structure. As tomorrow is NIFTY expiry, 22700 is going to provide a max-pain. There is more call writing on higher levels than PE writing on lower levels. The market is likely to end near 22500. Looking at the data, NIFTY might go bearish till 200 EMA. . Reasons: RSI < 40 falling from the upside shows a good bearish strength. EMA(13) > Price > EMA(200), which indicates an indecisive or rather sideways market. The market has formed a lower high lower low structure in 15-min TH that indicates the market is bearish. PCR = 0.65 indicates bearishness. Price < VWAP shows that a weak market structure can lead to a bearish market. Verdict: Bearish Plan of action : 22700 CE (Hedge it with 10/-) if the market continues bearish momentum. Note: you can target 200 EMA targets.
NSE:NIFTYShort
by finnova_
6
Nifty monthly expiry analysis for 30/05/24.Today nifty after a gap down opening has remained in a 100 points range closing 83 points lower. The daily candle is looking bearish and chance of testing 22580 levels are high, if it starts trading below today's low of 685. Nifty is trading between the moving averages and 20 ema is around the support zone. A bullish leg is there in the market and it is the retracement or profit booking before the election results. On fib levels it can test 38.2% levels. If the levels are breached soon, 580 levels will be tested . Major support levels :- 22680, 22620 Resistance :- 22800, 22880 Tomorrow is monthly expiry and upcoming week there is election results. Bullish reversal can be a possibility in case of a gap up opening. Flat to slightly gap down opening there will negative sentiment on intraday. Wait for the price action near the levels before entering the markets.
NSE:NIFTY
by TheMamboMomentum
#Nifty directions and levels for May 29th.Good morning, friends! 🌺🍬 Here are the directions for May 29th: The global market continues to show a bearish sentiment based on the Dow Jones, while our local market also maintains a moderately bullish trend. Today, the market may open with a gap-down, as indicated by GiftNifty, which shows a decrease of 90 points. Today, both Nifty and Bank Nifty have similar structures. First, let's look at Nifty. Nifty has consolidated slightly, but the closing was negative. GiftNifty is also indicating a continuation of the correction. According to the wave structure, the correction over the past two trading days could be a "4th correctional wave," and today’s gap-down might be the final leg of the correction (subwave "C"). After the correction finds support at either 50% or 61%, we can expect a bounce back that could be the 5th wave. Since it's a distribution wave, the movement might have less volume. This is the basic structure. Now, let's look at the current variation. The current variation indicates that if the gap-down sustains and consolidates or breaks the 50% Fibonacci level, it could fall further, potentially reaching 61%. As discussed, if the market finds support at the 61% Fibonacci level after the correction, it may bounce back. For reversal confirmation, you can use EMA20 or a minor swing Fibonacci level 38% breakout. Note: Here is another variation based on the structure. If the correction has a solid formation, it will likely continue. We can also confirm this if the market forms inside bars or pinbar candles, indicating continued correction. Additionally, if the retracement after the correction doesn't break the 38% Fibonacci level, we can expect the correction to continue. Positions should be taken only if it breaks the previous low. The alternate variation suggests that if the market finds support around the immediate support or if the initial market takes a solid pullback, we can expect a range market to rally continuation.
NSE:NIFTY
by Manickamtraders
NIFTY Intraday Trade Setup For 29 May 2024NIFTY Intraday Trade Setup For 29 May 2024 Bullish-Above 23000 Invalid-Below 22950 T- 23230 Bearish-Below 22850 Invalid-Above 22900 T- 22630 NIFTY has closed on a bearish note with 0.19% cut today. Index traded inside yesterday's range and did not trigger any trade. In the weekend we discussed that after ATH breakout, chance of a small pullback or consolidation is high which seems to be in action. Now 23110 will be trigger for a strong bullish impulse. If short triggers below 22850 then we will be alert near 22745 as it can act as a CIP support. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 23000 then we will long for the target of 23200+. For selling we need a 15 Min candle close below 22850. T- 22630. 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
28 May 2024 - Still Bullish on Nifty, 22781 laxman rekhaAfter we had a slightly red day, i am not changing my stance to bearish yet. I would prefer the 22781 critical support to be taken out before going short. I still believe N50 is catching its breath after the 1100+pts run from 16th May, but the moment we fall below 22871, we are going below the previous ATHs and that could prove quite tricky. In the last 2 instances i.e. on 10th Apr, 3rd May we had noticeable corrections - so the base case to go bearish may be profitable.
NSE:NIFTYLong
by viswaram
Nifty & Bank Nifty Analysis For 29 May 2024In this video, we'll discuss about Today's Market Movement and Tomorrow's Analysis in Nifty, Banknifty and other segments too. Whether you're a seasoned trader or just starting in the stock market, this analysis will help you in Learning about Market. Let's get right into it! ✅I hope you liked the analysis. Be sure to hit that LIKE. 👍Like | 💬Comment | 👥Share Disclaimer : All views and charts shared in this video are purely for knowledge and information purposes only. Trading is Very Risky Business and it should only be done with proper Knowledge. It is very important to do your own analysis before making any investment based on your own personal circumstances.
NSE:NIFTYShort
by TheStockMantra
NIFTY Prediction for tomorrow 29 May 24As we discussed, Nifty has a sideways or bearish structure; it ended sideways in 1st half, then bearish later 2nd half. If we look at the chart now: The market has broken 50 EMA and a good support zone to the downside. Also, an EMA(13, 50) bearish crossover is about to happen, which might lead to a bearish market structure. The market is making an HNS pattern and has broken the neckline to the downside, which might lead to a target of 22600 levels. If we look at the OI data: PCR = 0.80, which has fallen from 0.89, shows good CE writing at higher levels. 23000 will be acting as hard resistance at higher levels. Other than that, Nifty has good resistance at 23100, 23200, and 23300. Looking at the data, Nifty might go bearish in the upcoming session with a target of 22600 . Reasons: RSI < 40 falling from the upside shows a good bearish strength. EMA(13) > Price > EMA(50, 200), which indicates an indecisive or rather sideways market. The market has formed a lower high that indicates the market is bearish. PCR = 0.80 indicates mild bullishness, but this has fallen from 0.89, which shows good CE writing at higher levels. Price < VWAP shows that a weak market structure can lead to a bearish market. Verdict: Bearish Plan of action : 22800 PE (Hedge it with 10/-) if the market continues bearish momentum. Note: you can target 200 EMA targets.
NSE:NIFTYShort
by finnova_
3
#Nifty Directions and levels for May 28th.Good morning, friends! 🌺🍬 Here are the directions for May 28th: The global market is maintaining a bearish sentiment based on the Dow Jones, while our local market suggests a moderately bullish trend. We might see a neutral to slightly gap-down start today, as indicated by GiftNifty, which shows a decrease of 15 points. In the previous session, Nifty had sharply rejected in the second half, closing at a neutral price. Today, GiftNifty is also indicating a neutral opening. If we take a bias based on the Dow Jones, HDFC Bank, and RIL, they are suggesting a neutral sentiment. So, my expectation is that if Nifty opens neutral or if the initial market takes a pullback, we can expect a range market within the previous day's range. If it breaks either upside or downside after that, then we can follow that trend. In my opinion, if it forms a range, it may continue the rally. Alternatively, if the market takes a correction initially, it could reach the Fibonacci level of 50%, which is a strong support. After that correction, if it finds support there, we can expect a minimum pullback of 38% to 50%. Note: However, if the correction occurs sharply and if it breaks or consolidates around the Fibonacci level of 50%, then the correction will likely continue.
NSE:NIFTY
by Manickamtraders
Nifty levels and zones for tomorrow 28/05/2024 NSE:NIFTY 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between zones. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
NSE:NIFTY
by Trading_hawk