Nifty50 (16th May) 1/3Hourly closing below 22246 then 📉 📉 could test 22156
22156 could be a reversal level for upside 📈 📈
Closing in hourly above 22246 then 📈 to above target
If any hourly closing sustains above 22320 then bullish 📈 📈 to 22438
Disclaimer:
Its a personal view not a financial advise and I assume no responsibility and liability whatever outcome arises.
Niftytradesetup
NIFTY Prediction for today 16 May 24Nifty has already given the breakout. right now it's in the consolidation phase of WAVE 1.
If we look at the chart now:
Market is in sideways zone in range: 22098-22293
Important Levels:
Support zones: 21811 , 21944, 22098
Resistance: 22544, 22763
If we look at OI data:
PCR = 0.73, shows neutral structure. as it's expiry market is highly probable to end sideways in the provided range. if we got the momentum it is likely to be bullish. 22200 is going to provide maxPain.
If we look the FII and DII data it is more of indecisive.
Verdict:
Sideways in range
Bullish if breaks the range 22293 to upside.
#Nifty directions and levels for May 16th.Good morning, friends! 🌺🍬 Here are the directions for May 16th:
The global market is indicating a bullish sentiment based on the Dow Jones, while our local market sentiment suggests a moderately bullish trend. It might open with a gap-up start, as suggested by GiftNifty, showing an increase of +120 points.
Nifty minorly retraced after the gap-up start in the previous trading session. Structurally, we have two options. The first one is the GiftNifty indication of a gap-up start, so if the gap-up sustains and breaks the level of 22337, we can expect further rally continuation. In this scenario, if it forms a solid green candle structure, then we can expect a sharp rally followed by a range breakout. Otherwise, it may go into a diagonal pattern structure (consolidation pattern).
Alternatively, if the market rejects around the immediate resistance level, initially we can expect a 23 to 38% minor retracement. If it finds support there, it may undergo some consolidation for rally continuation. This means if it doesn’t break the minor Fibonacci level of 38%, then the market will maintain the bullish bias.
on the other hand if it breaks the minor Fibonacci level of 38%. then we can expect a minimum correction of 78% to the next level of 1.27%. Structurally, it could be in a flat variation. After that correction, if the market finds support at the 1.27 extension level, then it may turn into a bullish bias.
15 May 2024–Nifty gets a mild rejection at 22295, stance neutralNifty Analysis - Stance Neutral ➡️
Recap from yesterday: "I am hard-guessing it should be a short covering. The moment we get past 22295, we will be forced to go long."
The open was good and we started climbing quickly but at 22295 levels we got our first rejection. Four strong red candles between 09.51 and 10.27 brought N50 down by almost 143 points. If 22295 was breached, we would have changed our stance from neutral to bullish.
The good thing for the bulls was the fall ended at 10.27, for the remainder of the day we went into a small range bound trade. The final close was flat at -0.08%.
On the higher timeframe, we need to take out the resistance pretty quickly otherwise this pullback will start forming a lower high. A lower low, lower high formation is a bearish pattern and that would also mean the next leg of the down move will be more aggressive. At present we prefer to stay neutral till we get more clarity.
The algos made a profit of 15750 INR, MTM was into a loss earlier on, but after 11am things started improving.
Nifty for 16/05/2024Nifty is in uptrend channel from last few sessions, now Nifty is taking support of the channel and forming symmetrical triangle pattern too, Nifty was moving in range of 22233-22164 in last session, if tommorow Nifty breaks this range either upside or downside, then we can expect big move. Here are some levels for your information.
I am not SEBI registered analyst, this is my personal view only for educational purpose, I am not responsible for any profit or loss.
Nifty on Radar - 15 MayToday we have a red indecisive candle with a high high and a high low.
The price is rejected from the resistance level of 22300.
Currently we are in a negative trend.
I just need another red candle with a breakdown of the previous candle low to enter a swing trade.
Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
NIFTY Intraday Trade Setup For 16 May 2024NIFTY Intraday Trade Setup For 16 May 2024
Bullish-Above 22300
Invalid-Below 22250
T- 22478 22675
Bearish-Below 22150
Invalid-Above 22200
T- 21965 21800
NIFTY has closed on an absolute flat note today. Since last two days index was strongly bullish. And as per simple market phases, index turns sideways after a parabolic move so has happened today. Index traded in a tight range. 22300 and 22150 is the range for tomorrow, we will simply trade this range breakout. Best trade will be on opening inside this range. Both side momentum will be good so will have neutral view.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 22300 then we will long for the target of 22478 and 22674.
For selling we need a 15 Min candle close below 22150. T- 21965 and 21800.
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.
Nifty witnesed Range Bound to Volatile session on May 15After morning correction, Nifty oscillated in small Range around 22200 zone
Today also sectorial trend was mixed
A Nuetral candlestick formed on Daily TF
NIfty has weekly expiry on thursday ,
The upside hurldle is placed around 22320 zone,
The important downside support is near 22k zone
Wait for Price to decisively sustain outside prev day's range.
Market may show volatilty during the last phase of elections
*For Educational Purpose
Learn & Practice Price Action Setups
Nifty50 (15th May) 1/222296 --- 22241 ( No Trade Zone )
Closing below 22241 in hourly could trigger a downward momentum 📉 📉 📉 to 22136
Any hourly closing above 22296 then 📈 📈 to 22449
Disclaimer:
Its a personal view not a financial advise and I assume no responsibility and liability whatever outcome arises.
Nifty Institutional levels | Intraday 15-May-2024
Disclaimer:-
The information provided by our advisory service is for educational and informational purposes only. We do not provide investment, financial, or legal advice. Trading and investing involve risks, and past performance is not indicative of future results. Any decision to engage in trading or investment activities is at the sole discretion and risk of the individual. We strongly recommend consulting with a qualified financial advisor or professional before making any investment decisions. We do not guarantee the accuracy, completeness, or reliability of any information provided, and we disclaim any liability for any loss or damage arising from reliance on the information provided. Users are solely responsible for their own investment decisions and actions and off course we are not SEBI registered.
#Nifty directions and levels for May 15th.Good morning, friends! 🌺🍬 Here are the directions for May 15th:
There have been no changes in the global and our local markets. The global market still maintains a moderately bullish sentiment (based on the Dow Jones), while our local market sentiment also indicates a moderately bullish trend. It might open with a neutral to slightly gap-up start, as suggested by GiftNifty, showing an increase of +50.
Nifty continued its rally in the previous session and broke a Fibonacci level of 38%. Even if it breaks this 38% level, the structure has a diagonal formation indicating a distribution pattern. Therefore, if the gap-up doesn’t sustain and there is a sharp decline, the market may retrace a minimum of 38% to 61%. after that If it consolidates around the support level of 61%, the correction will continue if it breaks the previous low. On the other hand, if it finds support around the 61% Fibonacci level, we can expect a bounce back that may reach the day’s opening price level.
An alternate scenario suggests that if the gap-up sustains and breaks the 50% Fibonacci level, it may continue the pullback in a diagonal structure. However, if the opening market has a solid structure, we can expect a sharp rally.
14 May 2024–Nifty gets steam, is it short covering or fresh longNifty Analysis - Stance Neutral ➡️
Recap from yesterday: "The recovery was more than fast and furious, it even took out the 22051 resistance level. This nudged me to change the stance from bearish to neutral just for tomorrow."
Nifty started the day inline and then started climbing almost steadily. There were no visible drops, pullbacks, or attempts by the Bears to push down the prices. The decision to change the stance from bearish to neutral yesterday paid off.
At this point, I am not quite sure if it's the short covering or build-up of new long positions that is taking the markets higher. I am hard-guessing it should be a short covering. The moment we get past 22295, we will be forced to go long.
On the higher time frame, N50 has held on to the 21913 pretty strongly reinforcing the IH&S pattern (earlier). This could be read along with the new double bottom (W pattern) that is forming which shows the strength of the support level.
Nifty Algos ended the day with gains of 5625 INR
Nifty on Radar - 14 MayThe follow up candle of the Hammer candle indicates the start of an up trend.
The resistance level of 22300 is very important in tomorrow's trading range.
For a good swing trade setup we need to wait for a clear and confirmed trend.
Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
Nifty witnessed rebound for 2nd straight Day Nifty continued with its monday gains,
The slowly moved higher in today's session
However Sectorial trend was mixed
Next hurdle is placed around 22300 zone,
The important downside support is near 22000 level
The index can show diorectional movement
outside the range of 22k to 22300 in coming sessions
Market may also show both sides movement during the Polling season.
Keep Tracking Charts
*For Educational Purpose
Learn & Practice Price Action setups
NIFTY Intraday Trade Setup For 15 May 2024NIFTY Intraday Trade Setup For 15 May 2024
Bullish-Above 22280
Invalid-Below 22230
T- 22500
Bearish-Below 22080
Invalid-Above 22130
T- 21800
NIFTY has closed on a bullish note with 0.51% gain today. Unlike BANKNIFTY it was trendy after 11 o'clock. Buy triggered as per trade setup above 22150 and gave a move till 22270, however target was not achieved. On a flat opening there can be another good trendy day above 22270. 22370 looks as an confluence zone in case of a gap up. Currently bulls have overpowered so will maintain a bullish view.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 22280 then we will long for the target of 22500.
For selling we need a 15 Min candle close below 22080. T- 21800.
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.
Nifty50 (13th May) 2/222042 -- 22071 (No trade zone)
If today's closing is below 22042 then there could be some corrections 📉 possible to below levels for (14th May )
If closing above 22071 then 22232 could test 📈 📈 within (15th May )
Disclaimer:
Its a personal view not a financial advise and I assume no responsibility and liability whatever outcome arises.
Nifty Institutional levels | Intraday 14-May-2024Soon i will give update on how to use this IT levels in Options Trading.
Disclaimer:-
The information provided by our advisory service is for educational and informational purposes only. We do not provide investment, financial, or legal advice. Trading and investing involve risks, and past performance is not indicative of future results. Any decision to engage in trading or investment activities is at the sole discretion and risk of the individual. We strongly recommend consulting with a qualified financial advisor or professional before making any investment decisions. We do not guarantee the accuracy, completeness, or reliability of any information provided, and we disclaim any liability for any loss or damage arising from reliance on the information provided. Users are solely responsible for their own investment decisions and actions and off course we are not SEBI registered.
#NIFTY Intraday Support and Resistance Levels -14/05/2024Nifty will be gap up opening in today's session. After opening nifty sustain above 22130 level and then possible upside rally up to 22250 level in today's session. in case nifty trades below 22090 level then the downside target can go up to the 21970 level.
#nifty directions and levels for May 14th.Good morning, friends! 🌺🍬 Here are the directions for May 13th:
The global market still maintains a moderately bullish sentiment (based on the Dow Jones), while our local market sentiment also indicates a moderately bullish trend. It might open with a neutral to slightly gap-up start, as suggested by GiftNifty, showing an increase of +50.
Nifty had a sharp pullback after the initial decline in the pervious session, and GiftNifty is also indicating a positive start. However, on the upside, there is a Fibonacci level of 38% resistance, which is a key rejection level. If the market rejects there, then it could retrace a minimum of 38% to 61% with a three-wave structure.
Alternatively, if the market sustains or breaks the 38% level, then the pullback will likely continue and it may reach a minimum of 22,251 to the Fibonacci level of 50%.
13 May 2024– 310pts intraday bounce, stance changed to neutralNifty Analysis - Stance Neutral ➡️
Recap from yesterday: "On the 63mts TF, the bearishness continues. The next target of 21913 is still in our watchlist and if we fall below that - the real action begins."
The day took me by surprise, not with the inline opening and a 248pts ~ 1.12% downward fall, but the reversal of 310pts ~ 1.42%. The downside was in the cards, if you had read the previous day's post mortem report - you would have subscribed to those views.
And once again we broke the 21913 support, but gave it away real quick. The recovery was more than fast and furious, it even took out the 22051 resistance level. This nudged me to change the stance from bearish to neutral just for tomorrow.
On the higher time frame, I still cannot believe the reversal came from a technical perspective. Most likely the source seems like a news/event, did not find time to scan it as was busy with my Bday plans.
The Algos shows a profit of 10327 INR, but the actual results were negative, I guess it had to do with some wild swings that we had in between & due to slippage in bid/ask spread.
Nifty & Bank Nifty Analysis For 14 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!
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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.
Nifty50 Support And Resistance 14-May-24Please find below simple resistance and support:
Resistance: 22132
If crossed up then will see upward move:
TGT: 22338 (1 small hurdle at 22186)
Support: Trendline support although 21934
If crossed down then will see downward move:
TGT: 21820
This is only for education purpose. Do your own research before investing or trading.
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