NIFTY Intraday Trade Setup For 29 Apr 2024NIFTY Intraday Trade Setup For 29 Apr 2024
Bullish-Above 22630
Invalid-Below 22580
T- 22810
Bearish-Below 22380
Invalid-Above 22430
T- 22145
NIFTY has closed with a gain of 1.23% last week. Index is still trading sideways in the parallel channel.
Till the time index trades between this parallel channel direction trades in short term is risky. 21700 and 22800 is the range for a short term trigger. Breakout of this range will establish a trend in short term as these are weekly levels. 22300 is the last hourly swing low, breakdown may trigger a good fall.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 22630 then we will long for the target of 22810-50.
For selling we need a 15 Min candle close below 22380. T- 22145.
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.
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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.
Niftytradesetup
Will Nifty touch 22850 this week ??Overall Nifty has given a strong pullback from the lows of 21800. it has been moving up through gap ups which are not getting sustained at all. Only good part is tht i has negate the head and shoulder pattern in making in the last week.
Need a close above 22525 which will open doors for 22850 within this week itself.
if Nifty closes below 22330 level then its opening doors for 21800 again.
26 Apr 2024– Nifty50 throws up the extra it consumed yesterdayNifty Analysis - Stance Neutral ️➡️
Recap from yesterday: "The 321pts intraday rally has ensured N50 gets a stance upgrade to Bullish with the next target being the ATH. If it takes out the ATH, then we can safely remove the double top pattern."
Nifty had a great feast on Thursday that it had to throw up a bit today fearing indigestion, there is no other way to explain how we lost 230pts intraday today. Not just that, we fell below 22519 which prompted me to reverse the bullish stance back to neutral.
Sometimes the fundamentals makes no sense at all, how could you explain the move on Tech Mahindra & Bajaj Finance after their quarterly results? It really has a bearing on the Nifty index, just check how NiftyIT moved today.
On the higher time frame, Nifty looks strong above 22295 - but we need reinforcements coming to protect that support. Getting 4 red candles out of 6 is not going to help. For Monday, we will go short if 22295 is taken out and will go long if 22519 is taken out. Algo trades ended with a loss of Rs570, it turned out to be a blessing as the MTM swing low was minus Rs22500.
Nifty & Bank Nifty Analysis For Next Week 29 Apr-03 May 2024In this video, we'll discuss about Lat week Market Movement and Next Week'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.
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NIFTY Prediction for tomorow 29 Apr 24As we discussed the market in the live session, it was bearish. After that, it gave a nice fall.
If we look at the chart now:
Price is Making continuous HH and is not able to make HL. Price is taking support at 200 EMA. This level is also fibbed at 0.23 level, which is considered with 200 EMA, making it a good support zone.
22374 is also a good price action level, and the market has received multiple-time support. RSI has also given a breakout to the upside. That means the market might take support here.
If we look at the OI data:
PCR = 0.76, there is a huge CE writing at higher levels that indicates 22500 is going to be MaxPain. There is not much PE writing today. This indicates that bulls are not very sure the market is going to take support. If we look at today's OI, it is heavy CE writing, which shows bears are making strong levels on the higher side.
If we look at the FII and DII data: FII and DII is strong bearish while Client is strong bulllish, that means market is going to open gap-down.
The market is at a crucial point right now. there can be 2 cases
Case 1: If the market breaks 22360 to the downside (Bearish)
Case 2: If takes support at 200 EMA (Sideways)
Reasons:
Price ~= EMAs, indicates the market can take support at 200 EMA. (Sideways)
RSI < 50 shows weak bulls, indicating a sideways market. (Sideways)
RSI trendline break might activate some bulls might lead to sideways market. ( Sideways)
OI = 0.76 has a fall from 0.96, which means bears are increasing their positions. (Bearish)
Price < VWAP indicates the bearish market structure. (Bearish)
Verdict : Sideways or Bearish
Plan of action:
Case 1: If breaks to downside -> Sell 22400 CE (Hedge it with 15/- CE premium)
Case 2: If it takes 200 EMA support -> Sell 22400 CE & PE (Hedge it with 15/- premium)
Nifty50 (26th April) A2If 2:15 candle sustains above 22472 -- 22488 then there could be a shortcovering 📈 📈 📈 to above levels marked on the chart
If hourly candle closes below 22488--- 22472 then 📉 📉 ( 22372 -- 29th April)
Disclaimer:
Its a personal view not a financial advise and I assume no responsibility and liability whatever outcome arises.
DCM SHRIRAM - Swing Trade Analysis - 3rd April #stocksDCM SHRIRAM (1W TF) - Swing Trade Analysis given on 3rd April, 2024
Pattern: REVERSAL AT WEEKLY SUPPORT
- Pullback candle at Weekly Support - Done ✓
- Strong Volume candle at Support - In Progress
- Demand Zone Retest & Consolidation - In Progress
#NIFTY Intraday Support and Resistance Levels -26/04/2024Nifty will be gap up opening in today's session. After opening nifty sustain above 22580 level and then possible upside rally up to 22700 level in today's session. in case nifty trades below 22530 level then the downside target can go up to the 22410 level.
25 Apr 2024– Nifty50 gets a stance upgrade, bullish! 🐂🐂🐂Nifty Analysis - Stance Bullish ⬆️
Recap from yesterday: "For tomorrow, we wish to maintain the neutral stance and look for bearish opportunities if 22295 is getting broken. If the index moves up, 22519 would be our first level to watch for."
Kotak Bank started the day with cuts of -10% due to the RBI news impact from yesterday. The spillover effect was visible on all Nifty components prompting a gap down open. It was the consensus trade and we were all ready for it.
The first surprise came when we closed the gap by 09.43 even while Kotak was at -10%. The excess trade due to the short-covering bounce was visible between 10.19 to 10.51.
The second surprise came when Nifty started rallying from 22400 levels to 22625 between 12.59 to 14.35. This is the 2nd expiry in which Nifty has gone ballistic. I am not sure if it was SL hunting, but it messed up my Algo trades and had to close at a loss of Rs43092 on Nifty.
The 321pts intraday rally has ensured N50 gets a stance upgrade to Bullish with the next target being the ATH. If it takes out the ATH, then we can safely remove the double top pattern.
Nifty50 (25th April)22448 -- 22476 above sustains in any hourly candle 🕯 then 📈 📈 to 22561 -- 22598
22351 -- 22316 below Closing in hourly then 📉 📉 to 22229 -- 22159
22316 to 22476 ( No trade zone )
Disclaimer:
Its a personal view not a financial advise and I assume no responsibility and liability whatever outcome arises.
Nifty50 (24th April)Any hourly closing above 22461 then 📈 📈 to ( 22561 -- 22586 )
Closing below 22419 in any hourly will be 📉 📉 ( will update if it breaks )
22453 --- 22461 ( Sideways) No trade zone
Disclaimer:
It's a personal view not a financial advise and I assume no responsibility and liability whatever outcome arises.
#Nifty directions and Levels for April 25th.Good morning, friends! Here are the directions for April 25th:
The global market trend is moderately bearish, supported by the Dow Jones, while our local market sentiment indicates a moderately bullish trend. It might open with a gap-down start, as suggested by GiftNifty, showing a decrease of -70.
Nifty had closed with consolidation in the last session. In this session, if it opens neutral to gap-up, then we can expect a range breakout, but GiftNifty indicates a slightly negative start. So, it might take a little correction, retracing to a minimum of 23% to 38% Fibonacci level. If this happens, don't take any advance long positions around the 38% level because the structure may not be clear here compared to BankNifty. so If it consolidates around the 38%, then the correction continues further, and you can fix the next target Fibonacci level at 50%
The alternate variation suggests that if the gap-down doesn't sustain and takes an immediate pullback, then it might undergo further range market. After that consolidation, if it breaks the previous high, then we can expect a rally continuation.
However, if the market opens against the sentiment, which means if the market opens neutral or gap-up, then we can expect a rally, potentially breaking the previous high.
24 Apr 2024– Neutral and Out of steam, what is next? Nifty50Nifty Analysis - Stance Neutral ➡️
Recap from yesterday: "For tomorrow we wish to start the day with a neutral stance and look for bullish opportunities as soon as it reaches for the 22519 levels."
Another flat day, but the options premiums were not behaving as usual. The blame may be on VIX as the premiums were dead low that even a small 50+ points move created a huge skew between the Put and Call prices. India vix staying @ 10.2 levels is not a good sign for professional options traders as a small move will upset the premiums.
A better alternative is you use spreads like credit/debit spreads - buy a strike, sell strike+1 etc, so that the premiums move in tandem and the volatility contraction may not impact that much. But I assume most of the Algos may not have spreads as the core strategy, to begin with.
For tomorrow, we wish to maintain the neutral stance and look for bearish opportunities if 22295 is getting broken. If the index moves up, 22519 would be our first level to watch for.
Algos ended up gaining Rs5496 today.
Monthly Expiry Special Nifty & Bank Nifty Analysis For Apr 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.
#TheStockMantra #MarketAnalysis #LearnStockMarket
Nifty monthly expiry levels for intraday trade 25/04/24.The index for last 2 trading session is consolidating in a range between 22350-22480 and is sustaining above the moving averages.
A halt candle has been formed after a gap down opening which signifies that the market may give a trending move in coming days.
The drop in the VIX has killed the option premiums and there was option buyers are waiting for a buying opportunity in the market.
Tomorrow is the monthly expiry for the index and as the market is behaving a move can be seen, if there is a slight gap up/down or a flat opening.
If there is a flat opening and consolidation in the first half, the break out or break down in the second half can give a trending move.
Major Support levels:-22330, 22240
Resistance levels :- 22480, 22610
Market has remained volatile this whole month. For last 3 months dojis can be seen on the charts showing confusion among the market participants.
Wait for the market to clear the trend for positional trades. Price action around the levels should be there for entering a trade.
FASP levels for Nifty 24/04/2024The FASP for Nifty is listed for 24-04-2024. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities.
What is Fibolysis Anchor SupRes Points(FASP)?
It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds.
Validity of the levels: 1 Day
How to use these levels?
The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options.
Color Coding: Green is regular support and buying area, Red is strong exit area
Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
#NIFTY Intraday Support and Resistance Levels -24/04/2024Nifty will be gap up opening in today's session. After opening nifty sustain above 22390 level and then possible upside rally up to 22510 level in today's session. in case nifty trades below 22330 level then the downside target can go up to the 22210 level.
3 Apr 24 Nifty50, VIX collapsing 20% means Advantage Bulls!Nifty Analysis - Stance Neutral ➡️
Recap from yesterday: "The 63mts time frame is not bullish yet, but we are not bearish now. The best we can think of right now is to go neutral. If we fall back below 22295 tomorrow, we might even go short."
Nifty was perfectly neutral today after the opening candle. Since RELIANCE declared its quarterly results yesterday, we expected profit bookings on that counter. The mega gap-up and then cooling off on N50 was much attributed to RELIANCE's price action. Once N50 found support at yesterday's close, it decoupled itself from both RELIANCE and HDFCBANK price action. N50 was in green even when both the stocks were in red, that is not something we see usually.
India VIX crashing almost 20% was another shocker for the Bears. Whenever we have dips, the Bears are unable to really punch a way through. The markets come back stronger than before and usually hit a newer top. A crashing VIX is advantage Bulls as it shows the uncertainty falling. For tomorrow we wish to start the day with a neutral stance and look for bullish opportunities as soon as it reaches for the 22519 levels.
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Nifty50 algos ended the day with profits of Rs12729 mostly due to the narrow range maintained by the index today.
NIFTY Intraday Trade Setup For 24 Apr 2024NIFTY Intraday Trade Setup For 24 Apr 2024
Bullish-Above 22450
Invalid-Below 22400
T- 22665
Bearish-Below 22340
Invalid-Above 22390
T- 22140
NIFTY has closed on a flat note today. Index opened with a 100 points gap up and then index turned sideways. 10 o'clock range was to be used as per trade setup but index did not break and traded within a tight range of less than 100 points. VIX crashed drastically and by this index once again is not good for intraday traders. VIX above 15-16 will bring intraday tradable environment. Index looks week below 22340 and this looks probable tomorrow.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 22450 then we will long for the target of 22665.
For selling we need a 15 Min candle close below 22340. T- 22140.
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 & Bank Nifty Analysis For 24 Apr 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.
#TheStockMantra #MarketAnalysis #LearnStockMarket