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NIFTY Intraday Trade Setup For 8 Apr 2024NIFTY Intraday Trade Setup For 8 Apr 2024 Bullish-Above 22620 Invalid-Below 22570 T- 22830 Bearish-below 22300 Invalid-Above 22350 T- 22090 NIFTY has closed on a neutral note with slight gain of 1.2% gain. However it has closed above 22500 after 6 attempts. The weekly candle is a neutral and indecisive candle, a spinning top. Above its high-22620 we will plan bullish view and below its low-22300 we will plan a bearish view. Probability of upmove seems high but will follow market to trigger. Index has created inside candle on Friday which indicates a potential compression in markets so between 22620 and 22300 we will avoid directional trade. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 22620 then we will long for the target of 22830 and 23030. For selling we need a 15 Min candle close below 22300. T- 22090. 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
FASP levels for Nifty 05/04/2024The FASP for Nifty is listed for 05-04-2024. 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.
NSE:NIFTY
by SathishChandrasekaran
#Nifty direction and level for April 5th.Good morning, friends! Here are the directions for April 5th: The global market trend remains bearish, supported by the Dow Jones, while our local market sentiment indicates a still moderately bullish trend. It might open with a gap-down start, as suggested by Giftnifty, showing a -110 point. Nifty broke the all-time high after the long consolidation in the last session, but today Giftnifty indicates a negative start. So, if the market opens with a gap-down, then we can expect a range market that couldn't break the immediate demand zone. If the market finds support there, we can expect a minimum of 38 to 50% pullback; after that bounce back, if it sustains, it may continue the range, or if it breaks that zone, it may fall further. Alternatively, if the market doesn't find support there (minor demand zone), then we can expect correction continuation that may reach a minimum of 22268 to 22229.
NSE:NIFTY
by Manickamtraders
04 Apr - Nifty - The first candle today came as a shocker!Nifty Analysis - Stance Bullish ⬆️ Recap from yesterday: “This is because if Nifty50 reverses, there is no way BankNifty can maintain the positive momentum. For tomorrow we wish to start with the bullish stance itself and go neutral if the 22295 levels are not holding.” Absolutely crazy price action today, we fell a whopping 315 points ~ 1.4% after hitting new all-time highs of 22619. The fall was too furious that it would have taken out all the stop losses of Nifty expiry traders. If that did not, then I am very sure the price action from 10.55 to 13.31 would have. That is because we retraced 276 points ~ 1.24% to go above the swing highs of yesterday. A classic V-shaped pattern, something that is rare on an index like Nifty. If you trade BankNifty, you might have gotten used to it already. Now take a look at the 63mts chart, and see where the reversal came from ~ 22295 levels. That is the main reason why we said a stance change is required only if 22295 is broken and since we did not do that, we continue to remain bullish. But deep down it got me thinking, what is the reason we had a BIG RED candle in the opening 1 hour? No way it was related to technical analysis. It should be a news or macro economic event-related, maybe we will get to know in the RBI Governor MPC address tomorrow.
NSE:NIFTYLong
by viswaram
NIFTY Intraday Trade Setup For 5 Apr 2024NIFTY Intraday Trade Setup For 5 Apr 2024 Bullish-Above 22620 Invalid- Below 22570 T- 22830 23030 Bearish-Below 22300 Invalid-Above 22350 T- 22090 NIFTY has closed with a 0.36% gain today. It was most volatile day after many days, maybe due to RBI event tomorrow. It opened with a big gap up and 10 o'clock range was to be used as per trade setup. Range broke downside below 22380 and gave 70+ points move in favor then it recovered 70% from where it fell. Tomorrow it will be both way moves once again die to RBI Credit Policy. So Personally I will avoid trading tomorrow. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 22620 then we will long for the target of 22830 and 23030. For selling we need a 15 Min candle close below 22300. T- 22090. 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 April 4th.Good morning, friends! Here are the directions for April 4th: The global market trend remains bearish, supported by the Dow Jones, while our local market sentiment indicates a still moderately bullish trend. It might open with a neutral to gap-up start, as suggested by Giftnifty, showing a +60 point. Nifty - structurally, there have been no changes; the market is still maintaining the range-bound structure. As per the Giftnifty indication, if the market opens gap-up, then we can expect the rally to continue with minor consolidation when it breaks the previous high. Alternatively, if it is rejected again around the previous high, then the range market will likely continue.
NSE:NIFTY
by Manickamtraders
03 Apr N50 -The Bulls have not given up yet, there is still hopeNifty Analysis - Stance Bullish ⬆️ Recap from yesterday: “We wish to maintain the bullish stance for tomorrow as well, but we will be a bit cautious if Nifty falls below 22393 levels. A stance revision may not be even required till 22295 is broken” As we feared yesterday, we got the drop below 22393 levels but it did not even test the 22295 to mandate a stance change. The intraday low was 22346 from which we recovered 174 points ~ 0.78% to 22520 levels. From there we had a sharp correction of about 96 points ~ 0.43%. This correction would be the excess or the profit booking from those “longs” entered near the swing lows. The final closing was perfectly flat at 22434 levels. This can be considered a big achievement for the Bulls as the opening was pretty bad. I hope we are not making a double top (M pattern) on the 63mts time frame. If the pattern holds then all the efforts taken by the BankNifty index will go down the drain. This is because if Nifty50 reverses, there is no way BankNifty can maintain the positive momentum. For tomorrow we wish to start with the bullish stance itself and go neutral if the 22295 levels are not holding.
NSE:NIFTYLong
by viswaram
1
NIFTY Intraday Trade Setup For 4 Apr 2024NIFTY Intraday Trade Setup For 4 Apr 2024 Bullish-Above 22530 Invalid-Below 22480 T- 22767 Bearish-Below 22390 Invalid-Above 22440 T- 22190 NIFTY has closed at a striking distance to ATH and on verge of a ATH breakout. It ended on a flat note today. Tomorrow if at all it breaks ATH then possibility of a shot covering rally is high. A strong momentum trade can be planned above 22530 which will be best directional for tomorrow. 22390 is intraday support so below 22390 we will plan a short trade, target of 22190 will be confirmed below today's low. High probability trade is in buy side. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 22530 then we will long for the target of 22767. For selling we need a 15 Min candle close below 22390. T- 22190. 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
2
#Nifty directions and levels for April 3rd.Good morning, friends! Here are the directions for April 3rd: The global market trend is 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 -130 point. Nifty - structurally, there have been no changes compared to the previous session. It continues the consolidation structure. Today, Giftnifty is indicating a little bit of a long gap-down start. So, if the gap-down sustains, the market may follow the direction with minor pullbacks, meaning a correction may occur. However, even if it opens with a long gap down, if it finds support around the fib level 38%, then the range market might continue.
NSE:NIFTY
by Manickamtraders
NIFTY Intraday Trade Setup For 2 Apr 2024NIFTY Intraday Trade Setup For 2 Apr 2024 Bullish-Above 22530 Invalid-Below 22480 T- 22780 Bearish-Below 22420 Invalid-Above 22470 T- 22200 NIFTY has closed on a bullish note with 0.61% gain today. Entire gain has been contributed by gap up as it opened with 0.57% gain. For the rest of the day index traded between 22530 and 22430, inside 100 points. It has formed a shooting star candle in daily TF although closed with gains but daily candle suggests weakness. Yesterday's buy level was 22530 and same will be for tomorrow. Below 22420 index will be bearish in intraday. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 22530 then we will long for the target of 22780. For selling we need a 15 Min candle close below 22420. T- 22200. 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
01 Apr 2024 - Both indices are aligned in the same direction -UPNifty Analysis - Stance Bullish ⬆️ Recap from yesterday: “In the end, made peace with whatever happened during the day. When we start trading on 1st April, we will start with a bullish stance.” Nifty surprises everybody and recovers the loss of the final 45mts of trade on 28th March. What a good start to the new weekly, monthly, and yearly series. Unlike the previous quarters, I may not compile the daily posts into an ebook to post on Kindle, instead, it will be available on tradingview and my blog for reference & study. Nifty hit a new ATH today - 22529 and after that, the momentum faded slightly, but the downside was protected pretty well. 22443 acted as a good interim support. For all the non-directional option sellers, the first day of the new FY would have given a good green start to their PnL. On the higher timeframe, Nifty looks solidly poised for more bullish momentum. BankNifty went above its resistance today and for the first time in many sessions, we have both the indices facing the same direction i.e. UP. Ideally, we should see some followthrough buying and the index should continue to hit new highs. But before we go long, let us give it a day or two because the reaction today may be the after-effect of the adjustments and rebalancing that was done over the last 2 to 3 days due to year-end.
NSE:NIFTYLong
by viswaram
#nifty directions and levels for April 1st.Good morning, friends! Here are the directions for April 1st: The global market trend is moderately bullish, supported by the Dow Jones, while our local market sentiment indicates a similarly bullish trend. It might open with a neutral to slightly gap-up start, as suggested by Giftnifty, showing a +40 point. Nifty has recently rejected nearly all-time highs. I anticipate the market may undergo some consolidation given the gap-up start indicated by Gift Nifty. If the market breaks the previous high after this consolidation, the rally will likely continue. Alternatively, if the gap-up is not sustained, we can expect a minor correction initially. If it finds support around the 38% level, it may form a consolidation structure. On the other hand, if it breaks the 38% Fibonacci level, we can expect a correctional wave ranging from 50% to 78%.
NSE:NIFTY
by Manickamtraders
NIFTY Intraday Trade Setup For 1 Apr 2024NIFTY Intraday Trade Setup For 1 Apr 2024 Bullish-Above 22530 Invalid-Below 22480 T- 22780 Bearish-Below 22250 Invalid- Above 22300 T- 22045 NIFTY has closed on a bullish note last week with 1% gain. It was a short week of 3 sessions but since start of the week bulls took charge and held till weekend. Now above 22530-50 we will witness another round of strong bullish move in daily TF. On Thursday itself we discussed about hourly TF breakout above 22215 and it gave a fantastic move. Also since it has been rejected from ATH zone so there is a pullback scenario below 22250 towards 22045, which is again a reversal level. 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 22780. For selling we need a 15 Min candle close below 22250. T- 22045. 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 Intraday Trade Setup For 28 Mar 2024NIFTY Intraday Trade Setup For 28 Mar 2024 Bullish- Above 22215 Invalid- 22165 T- 22360 22550 Bearish- Below 22040 Invalid- Above 22090 T- 21880 21680 NIFTY has closed on a bullish note with 0.54% gain today. It was firmly bullish since opening as buy triggered above 22080 and gave a steady move till 22200. However our targets were unachieved due to overall low momentum market. It has tested hourly resistance level 22210 which is a breakout level inside the overall parallel channel in hourly and daily TF. Tomorrow above 22215 we can expect a good upmove on flat opening. 22040 is today's low and an important bearish reversal point considered from hourly resistance - 22210. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 22215 then we will long for the target of 22360 and 22550 For selling we need a 15 Min candle close below 22040. T- 21880 and 21680. 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
1
#Nifty directions and levels for March 28th"Good morning, friends! Here are the directions for March 28th: The global market trend is moderately bullish, supported by the Dow Jones, while our local market sentiment indicates a moderately bullish trend. It might open with a neutral to slightly gap-down start, as suggested by Giftnifty, showing a -8 point. Nifty experienced a solid pullback in the last session, but the closing retraced a little bit. According to the wave structure, it could be in the 4th subwave. So, if the market opens neutrally, the 4th might consolidate a bit. After that, if it breaks the previous high, then we can consider that as a 5th subwave. It might reach a minimum of 22211 to 22262. If the 5th wave rejects there, then we can expect a correctional wave. On the other hand, if the market sustains around the 22262 level, then the 5th may extend further.
NSE:NIFTY
by Manickamtraders