Get started

Niftytradesetup

23 May 2024 - Nifty almost kissed 23000 today, Bulls charged upNifty Analysis - Stance Bullish ⬆️ Nifty had an impressive 417pts ~ 1.85% intraday rally, although the bullishness was predicted - I was quite surprised that we had such momentum today, and that too before election results. But if you look at the data objectively, what we had today was quite reasonable. After all, we were breaking out from the all-time highs and usually, that means a quick surge of which the excesses will be shaved off in a day or two. For tomorrow, our bullish stance continues and there are no more resistances above this level, meaning we would not really know where the next stop would be.
NSE:NIFTYLong
by viswaram
NIFTY Intraday Trade Setup For 24 May 2024NIFTY Intraday Trade Setup For 24 May 2024 Bullish-Above 23000 Invalid-Below 22950 T- 22210 Bearish-Below 22790 Invalid-Above 22840 T- 22575 NIFTY has closed a record high with 1.64% gain today. Index has given a strong breakout of the weekly Range. FIIs have also turned buyer today after a long time. Chances of a 90 degree angle move is high followed by a consolidation breakout now. Next stop seems near 23850 in daily TF as per range calculation. Tomorrow above 23000 there can another strong move in intraday and best suited will be on flat opening. 22790 will be intra support. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 23k then we will long for the target of 23210. For selling we need a 15 Min candle close below 22790. T- 22575. 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 May 23.Good morning, friends! 🌺🍬 Here are the directions for May 23rd: The global market is showing a moderately bullish sentiment based on the Dow Jones, and our local market also suggests a similar trend. We might see a neutral to slightly gap-down start, as indicated by GiftNifty, which shows a decrease of 30 points. Nifty has been maintaining a bullish bias within a consolidation structure. However, GiftNifty indicates a slightly negative start. If the market opens with a gap-down and sustains it, we could see a correction of 23 to 38%. On the other hand, if the market initially takes a sharp pullback, it may continue the rally with a diagonal formation.
NSE:NIFTY
by Manickamtraders
22 May 2024 - Nifty still upward looking, bullish tone continuesReliance and Infy were the major contributors to Nifty's GREEN show today. This happened at a time when the Banks were taking a huge beating. Finally, it came out good for the bulls as the 22519 resistance is now broken safely. The next target is the ATH and then I am not quite sure how much more we can go from there. Lok Sabha election results are coming up in 2 weeks and the markets are getting prepped up for a massive one-side move. The stance continues to be bullish above 22519.
NSE:NIFTYLong
by viswaram
#Nifty directions and levels for May 22nd.Good morning, friends! 🌺🍬 Here are the directions for May 22nd: The global market is still maintaining a bullish sentiment based on the Dow Jones, while our local market sentiment suggests a moderately bullish trend. It might open with a neutral to slightly gap-up start, as suggested by GiftNifty, showing an increase of +30 points. Nifty closed neutral with minor rejection around the 78% Fibonacci level, while GiftNifty indicates a slightly positive start. Given this sentiment, the market may consolidate between the 78% Fibonacci level and yesterday's closing price. If the market breaks the 78% resistance, we can expect the rally to continue. Moreover, if the 78% resistance is breached without any consolidation, it further confirms a rally. Alternatively, if the gap-up doesn't sustain or if the market opens with a gap-down, we can expect a minor correction of 38%. Key points to consider: >If the market reaches the 38% level aggressively, it may fall further with little consolidation. >On the other hand, if it takes time to reach the 38% level, then the 38% level will act as strong support, and we can expect a bounce back.
NSE:NIFTY
by Manickamtraders
Nifty on Radar - 21 MayToday, with a gap down opening the index is recovered with strong momentum and made a close above the previous close. In the domestic market, foreign selling ahead of the final two phases of national elections is expected to keep volatility high. The index took strong support and over the last six trading sessions, it has shown a strong uptrend rally. The current S1 is placed at 22300 and R1 is placed at 22600 levels. The selling by FIIs and elevated India VIX levels are exerting pressure on it. Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
NSE:NIFTYLong
by ssvirdi
NIFTY analysis for tomorrow 22 MayAs we discussed, Nifty ended sideways today. If we look at the chart now: The market is trading at the higher side of the channel. Right now, the market is in a mini-channel. If it breaks to the downside, it can result in bearishness in the market to 200 EMA levels. NIFTY seems more bullish than Banknifty, where Banknifty is preparing for a bearish structure. It might force NIFTY to be sideways as NIFTY still has good support for lower levels. If we look at the OI data: PCR = 1.10 shows the market's bullish structure. 22500 is Maxpain, while 22400, and 22500 have good PE writing, which is going to act as a nice support zone. PCR has fallen from 1.25 to 1.10, which shows that the CE windup today was good. I expect the market to go sideways or bearish. Reasons: Price ~= EMA(13) and Price >> EMA (200). NIFTY might retrace to 200 EMA levels. RSI is 40-60, showing a market sideways structure.\ Fall in PCR from 1.25 to 1.10 shows Bears are increasing their position in the market. Price < VWAP, which indicates the price is weak, might correct itself. The market is in a consolidation phase, trading at the higher side of the uptrend channel. Verdict: SIdeways or Bearish Plan of action : Sell 22550 CE and 22400 PE (Hedge it with 10/-)
NSE:NIFTY
by finnova_
#Nifty directions and levels for May 21st.Good morning, friends! 🌺🍬 Here are the directions for May 21st: The global market is indicating a bullish sentiment based on the Dow Jones, while our local market sentiment also suggests a bullish trend. It might open with a gap-up start, as suggested by GiftNifty, showing an increase of +60 points. Nifty has a minor consolidation structure after the sharp rally. GiftNifty indicates a positive start, and the structure also suggests the continuation of the rally. However, there is major resistance at the 78% Fibonacci level. so, If the market breaks or consolidates around this level, we can expect the rally to continue further, potentially reaching 22,636 to 22,684. and The 22,684 level is a supply zone, so if the rally is rejected there, we can expect a correction of 23% to 38% in the minor swing. Alternatively, if the market is rejected around the 78% Fibonacci level or if the gap-up doesn’t sustain, it may retrace 38% in the minor swing. Here we have two scenarios: 1 - There has been a solid rally, so according to the structure, it could undergo a retracement of 23% to 38%. After that, if it finds support at either 23% or 38%, the rally is likely to continue. 2 - According to the wave structure, a 5-3 structure is forming, indicating a zigzag variation. If the market breaks the 38% Fibonacci level, it may enter a correction phase. If this happens, you can set your target at 50% and 78%.
NSE:NIFTY
by Manickamtraders
Nifty - Intraday levels & Prediction for - 21 May 2024Nifty Prediction for Tomorrow and Current Week: Trend : BEARISH Sentiment : Positive Expectation : Moderately BEARISH Nifty expected to be in range between 22625 & 22300 support and resistance Level this week respectively. Tomorrow Nifty likely to Open flat and BEARISH fall might be there as retracement trend up to 22350 level before it moves on the higher side. However the weekly trend is going to be sideways this week so we cant expect trending move until the Election Result. Look for Buy/Sell at Demand and Supply zone for profitable trades. Demand and Supply Zones - When price breaks the zone, Demand zone will become Resistance and Supply zone will become Support. Refer the chart for detailed Intraday Support and Resistance levels. Happy Trading!!
NSE:NIFTYShort
by ViVenTraders
NIFTY Intraday Trade Setup For 20 May 2024NIFTY Intraday Trade Setup For 20 May 2024 Bullish-Above 22530 Invalid-Below 22480 T- 22737 Bearish-Below 22430 Invalid-Above 22480 T- 22230 NIFTY has closed on a bullish note with 2% gain last week. It has taken support from the lower trendline support in daily TF. Since last one month we have been discussing that the broad range is 22800 and 21700-800. Breakout of this range will trigger a fresh trend. Overall sentiment is sideways, this week caters a bullish sentiment inside the range. Monday's intraday range is 22530 and 22430. We will simply trade on this range breakout. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 22530 then we will long for the target of 22737. For selling we need a 15 Min candle close below 22430. T- 22230. 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