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02 May 2024 - Nifty has to get past the ATH to negate M patternNifty Analysis - Stance Bullish⬆️ Recap from yesterday: "The 63mts TF paints another picture, a perfect triple top at the 22780 levels. A double top between 9th and 10th April and the third top today on 30th April." Nifty opened quite strongly, immediately recouping some of the lost ground in the last session. After cutting almost 50% of the losses, N50 found a stable level and then maintained its narrow range. Fearful of stop loss hunting, I squared off the Algo straddles at 13.16 and in hindsight, it proved to be a stupid decision. Although I made 18732 INR, another 23200 was forgone. I do not know about the Jane Street Algo strategies, but it has really elevated the premiums in near ATM strikes. In a way, it is good for option-selling as risk:reward is increasing especially on the expiry day. For tomorrow, we wish to maintain the bullish stance, but the first test would be the ATH which would otherwise act as a triple top. The moment we get past that, I could remove the M pattern drawn for the period 05 to 12th April.
NSE:NIFTYLong
by viswaram
NIFTY Intraday Trade Setup For 3 May 2024NIFTY Intraday Trade Setup For 3 May 2024 Bullish-Above 22800 Invalid-Below 22750 T- 23050 Bearish-Below 22550 Invalid-Above 22600 T- 22333 NIFTY has closed with a slight gain of 0.19% gain today. On Tuesday EOD we discussed that index may give a bounce of the fall towards 22700 zone if Tuesday's low will be safe. Index followed the same and 22700 zone acted as intraday resistance. Index traded between previous day's range and formed an inside candle in daily TF. Tomorrow once again index looks sideways if it does not dive below 22560. So will will stick to broader range of 22800 and 22550 to trade. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 22800 then we will long for the target of 23050. For selling we need a 15 Min candle close below 22550. T- 23333. 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 2nd.Good morning, friends! Here are the directions for May 2nd: The global market is still maintaining a moderately bearish trend, supported by the Dow Jones, while our local market sentiment also indicates a moderately bearish trend. It might open with a neutral to slightly gap-up start, as suggested by GiftNifty, showing an increase of +30. structurally there is a sub-wave 4th going on. It's a consolidation zone, so if the market opens with a gap-up and sustains it, then we can expect a range market. However, if the market sustains around the Fibonacci level of 78%, it could break out. Even though it breaks the Fibonacci level of 78%, structurally, it may not take that much of a rally because the upcoming wave is a 5th wave, and the 5th wave is typically a distribution wave. Alternatively, if the gap-up doesn't sustain and declines initially, we can expect a minor correction with a pullback structure. The aggressive correction will occur only if it breaks the immediate support level with some minor consolidation.
NSE:NIFTY
by Manickamtraders
NIFTY 50 IndexThere is no doubt that the Nifty Index has been bullish in the long term, but there are times the index takes a dip and thus we can take this opportunity to short it till the levels. The levels which I expect Nifty to drop are till 21900 in short term, the second target can be 21400, and if this level breaks in long term we can expect a further drop to 20650. Nifty is at all time high. If the price breaks above 23127 this idea will be invalidated. Important - This is my personal analysis and should not be considered as financial advice, kindly do your research before placing any trades.
NSE:NIFTYShort
by AmitTrades
30 Apr 2024 - Sharp fall in last 1 hr, rebalancing or reversalNifty Analysis - Stance Bullish⬆️ Recap from yesterday: "We are now very close to the ATH and once we take out that, we can safely remove the double top pattern." Nifty does a decent climb to hit a new all-time high of 22783 and then a brutal fall of 215pts ~ 0.95%. No matter how professional a trader you are, you cannot set a trap to make money out of that move. Agreed, the 22700 PE buyers would have made some decent money today, but it was never in the cards. Nifty was bullish and stayed bullish from the start, the sign of meltdown was not there, not according to me anyway. I was really scared that we would take out the 23800 on 2nd May as it's a holiday tomorrow. The 63mts TF paints another picture, a perfect triple top at the 22780 levels. A double top between 9th and 10th April and the third top today on 30th April. It is not a conventional triple top anyway, but the ATH levels are seen as quite shaky. As long as 22519 is respected, we maintain the long stance. Nifty algos ended the day with a gain of 210 INR.
NSE:NIFTYLong
by viswaram
NIFTY Intraday Trade Setup For 1 May 2024NIFTY Intraday Trade Setup For 1 May 2024 Bullish-Above 22790 Invalid-Below 22740 T- 23050 Bearish-Below 22550 Invalid-Above 22600 T- 22333 NIFTY has closed on a slight bearish note with 0.17% cut today. It has formed a shooting star exactly at ATH which seems to be an alert for bulls. Index will rally very strongly above 22800 as sellers shorted today will exit and fresh buyers like us will enter, double force move. But below today's low bears will take charge. If today's low will be safe then it may give bounce towards 22715. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 22790 then we will long for the target of 23050. For selling we need a 15 Min candle close below 22550. T- 22333. 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 April30th.Good morning, friends! Here are the directions for April 30th: The global market is still maintaining a moderately bearish trend, supported by the Dow Jones, while our local market sentiment indicates a bullish trend. It might open with a neutral to slightly gap-up start, as suggested by GiftNifty, showing an increase of +20. Structurally, Nifty doesn't have that much of a bullish sentiment. It's maintaining the bullish bias supported by the BankNifty. So, if the initial market rejects, we can expect a minimum correction of 38 to 50%. After that, if it finds support, it may undergo a range-bound structure. On the other hand, if it consolidates around 50%, then the correction will likely continue. An alternate variation indicates that if the gap-up sustains and breaks the supply zone, then we can expect rally continuation with minor consolidation at the immediate resistance level.
NSE:NIFTY
by Manickamtraders
29 Apr 2024 - Nifty resolves on the upside stance is Bullish nowNifty Analysis - Stance Bullish⬆️ Recap from yesterday: "For Monday, we will go short if 22295 is taken out and will go long if 22519 is taken out." Nifty started with a gap-up, then came down to close the gap. Once we hit the previous close level, magically Nifty50 got real strength and then started climbing. Nifty gained a total of 213 points ~ 0.95% to not only break out from 22159 but to reinstate its bullish position.  We are now very close to the ATH and once we take out that, we can safely remove the double top pattern. The indices are always resolving to the upside and it has been such a deadly journey for the Bears. Seems like they are facing an existential crisis. Bears will go extinct before Tigers in India. Nifty50 algos today ended the day with losses of -19644 INR.
NSE:NIFTYLong
by viswaram
Nifty & Bank Nifty Analysis For 30 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
NSE:NIFTYLong
by TheStockMantra
NIFTY Intraday Trade Setup For 30 Apr 2024NIFTY Intraday Trade Setup For 30 Apr 2024 Bullish-Above 22660 Invalid-Below 22610 T- 22875 Bearish-Below 22500 Invalid-Above 22550 T- 22333 NIFTY has closed on a bullish note today, clocked exactly 1%. Tomorrow once again we can expect bullish move if today's high is sustained. In the weekend we discussed hourly levels as 22650 and 22300. It has tested the upper level so above 22660 we will maintain a bullish view for a fresh ATH. High probability trade will be in buy side on flat opening or slightly below 22640. 25500 will be a confluence zone just like today. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 22660 then we will long for the target of 22875. For selling we need a 15 Min candle close below 22500. T- 22333. 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 likely in a topping phase (in USD)Disclaimer : Educational ideas only. You are responsible for whatever you choose to do from this analysis. From the chart, we see two very powerful upsloping resistance lines in green, one from a decade ago, another from 2020 low. In addition, we see a bullish flag like consolidation under the resistance line, but in RSI, we see lower highs and lower lows showing signs of distribution and not accumulation. Overall, the market should atleast have a pullback to the breakout level above 2021 high. If that level fails, watch out for retest of covid highs (in USD). Big note to remember : This chart is denoted in USD, which means that the Indian markets can be flat and USD can appreciate vs INR giving us the same results eventually. So keep that in your mind. SL is weekly close above the Nifty ATH (in USD)
NSE:NIFTYShort
by shivam94_007
4
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. ========== 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
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.
NSE:NIFTY
by viswaram
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! ✅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
NSE:NIFTY
by TheStockMantra
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)
NSE:NIFTY
by finnova_
1