NIFTY 50It could test below support level marked on the chart at 24147 or on that red line within (4th Nov 2024)
If red line breaks early then that white line is an ultimate support at 23800 (18th Oct 2024)
Disclaimer:
It's a personal view not a financial advice and I assume no responsibility and liability whatever outcome arises.
Niftytradesetup
NIFTY Intraday Trade Setup For 5 Nov 2024NIFTY Intraday Trade Setup For 5 Nov 2024
Sell_1-From 24175
Invalid-Above 24225
T- 23950
Sell_2- Below 23800
Invalid-Above 23850
T- 23570
NIFTY has closed on a bearish note with 1.27% cut today. Index was just trendy after triggering short as per trade setup. Also index is approaching our position short target - 23700 zone. We have been riding short from 24850 zone which was updated on 17 Oct. We will keep riding this until our trailing sl is hit. If a daily candle closes above PDH then we exit and there will be chance of sentiment change.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes below 23800 then we will short for the target of 23570.
We will also short from 24175 in case tested in the 1st hour. T- 23950
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 - Intraday levels & Prediction for - 5 Nov 2024Nifty Prediction for Tomorrow:
Trend : Sideways to Mod. BEARISH
Sentiment : Negative
Expectation : BEARISH Trend Continuation upto 23500
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.
Nifty 50 spot 23851 by Daily Chart view*Nifty 50 spot 23851 by Daily Chart view*
- 24750 to 24875 Resistance Zone
- Support Zone is seen nearest at 23200 to 23350
- 24050 to 24175 now seems becoming Resistance Zone earlier Support Zone
- Nifty 50 Index traversed the Bullish Rising Price Channel till end of Sept 2024. Now in a Bearish Falling Price Channel, Support Zone 24050 to 24175 might seemingly act as Resistance Zone
Nifty Crash Update & Reasons Behind Indian Markets Crashing - Nifty is currently trading at 23,964
- This chart is inverted to understand the bearish bias on a larger timeframe
- Nifty has already topped out, IMO and we will only see Nifty retracing larger and pumping small
- Nifty's point of release was from the zone of 25,214 and the market structure shift to bearish was around 24,753
- We can soon see a pullback towards the upside raiding and grabbing more liquidity and falling further down
- I find Bank Nifty to be strong when compared to Nifty
- Reasons Behind Indian Indices and Nifty Falling
1) FPI Outflows: Heavy Selling by foreign investors reallocating funds to other emerging markets like China, has reduced liquidity and intensified selling pressure.
2) SEBI Derivatives Regulation
3) Market Downgrade
4) Rising Crude Oil Prices
5) Technical Weakness
Nifty Intraday Levels | 4-NOV-2024Nifty Options Scalping
1️⃣ Zones to Watch:
👉Green Zone: Institutional support
👉Red Zone: Institutional resistance
👉Gap: 100-200 points between zones
👉Zone Creation: Based on pivot points and Fibonacci
👉Chart: Use Nifty futures chart for reference
2️⃣ Trade Execution:
👉Order Flow: Triggers trades
👉Timeframes: 1-min & 5-min for scalping
👉Risk-Reward: 1:2 (Risk 1 to gain 2)
👉Strike Price: ATM or slightly ITM options
👉Position Sizing: Adjust to risk tolerance
3️⃣ Rules:
👉9:15 AM Sharp: Ready for market open
👉Risk Management: Top priority
👉Quick Trades: "Morning breakfast" scalps
👉Stop-Loss: 10 points
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Nifty directions and levels for November 4th.Good morning, friends! 🌞 Here are the market directions and levels for November 4th.
Market Overview:
In the short term, both global and local markets are showing moderately bearish sentiment. However, today the Nifty is indicating a neutral start.
In the previous session, both Nifty and Bank Nifty closed with slight positive gains due to the Muhurat trading. However, the overall structure suggests that there is a clear range-bound market. Therefore, the market may continue to trade within this range today. We can analyze this further by looking at the charts.
Nifty Bullish View:
From a bullish perspective, if the market experiences a pullback initially, we can expect a continuation of that pullback, reaching a minimum of 78% of the previous high. This is a usual target for range-bound markets. Additionally, if the market consolidates around the 78% level, the breakout continuation could be significant.
Nifty Bearish View:
The bearish view suggests that if the market declines initially, it could reach a minimum of the minor demand zone or the Fibonacci level of 23% if it breaks below 24,214.
Is the Trend About to Shift ?Nifty and Bank Nifty have consolidated in the past week,
Nifty has resistance at - 24500 -24700
Support : 24100 will act as laxman rekha for any further upside.
Bank Nifty
Resistance : 51700-52300-52600
Support : 51150-50350
Bank Nifty is creating a W pattern breakout above 52600 for a target of 55000
Nifty - Intraday levels & Prediction for - 4 Nov 2024Nifty Prediction for Tomorrow:
Trend : Moderately BULLISH
Sentiment : Positive
Expectation : BULLISH Trend
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.
NIFTY Intraday Trade Setup For 4 Nov 2024NIFTY Intraday Trade Setup For 4 Nov 2024
Bullish-Above 24380
Invalid-Below 24330
T- 24600
Bearish-Below 24170
Invalid-Above 24220
T- 24900
NIFTY has formed a halt candle in weekly TF. After continuous selling since 27 Sep it took a pause in weekly TF. 23700 target which was said when index went below 24k is still pending. Also it was said that we need to keep an eye on PDH for trailing the positional short trade. If index closes above PDH then bearish sentiment may take a halt so will close short view then. 24380 and 24170 are intraday levels for tomorrow.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 24380 then we will long for the target of 24600.
For selling we need a 15 Min candle close below 24170. T- 23900.
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 for muhurat Trading 01.11.2024Nifty 50 Analysis: Buy Above 24,360 / Sell Below 24,150
Current Price: 24,206.00
Support Levels: 24,100, 24,000
Resistance Levels: 24,500, 24,600
Key Points:
The Nifty 50 index is currently consolidating within a range of 24,100 to 24,500.
A decisive breakout above 24,500 could signal further bullish momentum, potentially driving the index towards 24,600 and beyond.
Conversely, if the index falls below 24,150, it may indicate a bearish trend, with potential targets at 24,000 and lower.
Recommendations:
Buy: If the Nifty 50 index sustains above 24,360, consider entering long positions with targets at 24,440, 24,600 and 24,740.
Sell: If the index breaks below 24,150, consider short positions with targets at 24,000 and 23,900.
Nifty for 30.10.2024Trading Levels for Today (Based on 1-Hour Candle Close):
Buy Above 24,500: Enter a buy position if a 1-hour candle closes above 24,500. This could confirm a breakout and signal upward momentum. To manage risk, set a stop-loss in case of unexpected price reversals.
Sell Below 24,200: Enter a sell position if a 1-hour candle closes below 24,200. This may confirm a breakdown, indicating further downside potential. Set a stop-loss to protect against sudden price rebounds.
Disclaimer: I am not a SEBI-registered financial advisor. These levels are based on my personal trading approach for today, focusing on 1-hour candle close confirmations. Please perform your own analysis and consult with a certified professional before making any trading decisions.
BSL LIMITED stock pattern formation on Daily Chart BSL LIMITED stock going in tight consolidation
am expecting a good up side move
company's earning report coming
Company is expected to give good quarter
keep in your watch-list
slow moving stock but have potential promoters holding stable
individual investors & FII's entered in this stock
Disclaimer: This information is for educational purposes only and does not constitute financial advice or a recommendation to buy or sell any securities. Always do your own research and consult with a financial advisor before making investment decisions.
Nifty - Intraday levels & Prediction for - 29 Oct 2024Nifty Prediction for Tomorrow:
Trend : BULLISH
Sentiment : Positive
Expectation : Strong BULLISH
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.
Nifty Intraday Levels | 28-OCT-2024Nifty Options Scalping
1️⃣ Zones to Watch:
👉Green Zone: Institutional support
👉Red Zone: Institutional resistance
👉Gap: 100-200 points between zones
👉Zone Creation: Based on pivot points and Fibonacci
👉Chart: Use Nifty futures chart for reference
2️⃣ Trade Execution:
👉Order Flow: Triggers trades
👉Timeframes: 1-min & 5-min for scalping
👉Risk-Reward: 1:2 (Risk 1 to gain 2)
👉Strike Price: ATM or slightly ITM options
👉Position Sizing: Adjust to risk tolerance
3️⃣ Rules:
👉9:15 AM Sharp: Ready for market open
👉Risk Management: Top priority
👉Quick Trades: "Morning breakfast" scalps
👉Stop-Loss: 10 points
#ThankU For Checking Out Our IDEA , We Hope U Liked IT 📌
🙏 FOLLOW for more content!
👍 LIKE if you found it useful!
✍️ COMMENT below with your thoughts and feedback!
25th Oct 2024 - Had a good Bear Run, what is the new base? N50Nifty Stance Bearish ️⬇️
We fell 649pts ~ 2.61% this week and our bearish stance from the prior week helped us gain some money. My October PnL was in deep red, thanks to the abrupt swings in between - but the unidirectional move this week was a real blessing and I was able to cut down my losses.
The Head and Shoulders position that we published on the daily time frame is getting played out (hope so). For the first time in many months, Nifty's bottom is not getting dip bought and the pattern has changed to sell on rise. I honestly do not remember the last time Nifty had the sell on rise characteristics.
I wish to maintain the bearish stance till 24333 is not getting taken out conclusively and deep down, I hope that the Bear run continues till the excesses get thinned off.
NIFTY Intraday Trade Setup For 28 Oct 2024NIFTY Intraday Trade Setup For 28 Oct 2024
Bullish-Above 24280
Invalid-Below 24230
T- 24550
Bearish-Below 24070
Invalid-Above 24120
T- 23770
NIFTY has closed on a bearish note last week. We already discussed last week that index is approaching 23700 zone. It is in flow since then in the downside. Also keep on riding with PDH as trailing SL. If a daily candle closes above PDH then we will exit our shorts and wait for fresh trade setup positionally. 24280 and 24070 are intra levels for next session.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 24280 post pullback then we will long for the target of 24550.
For selling we need a 15 Min candle close below 24070. T- 23770.
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 1W Technical Analysis & CommentaryIndian Stock Market Update
- Nifty and Bank Nifty have been plunging for a week, and we are witnessing major sell-offs.
- The primary reasons behind the drop are: 1) All indices were overstretched, 2) Foreign Institutional Investors (FIIs) are pulling out their money and moving it elsewhere, and 3) Institutions are booking profits across the board, trapping late buyers who fell for fear of missing out (FOMO).
- I am sticking to my plan, which I always follow. I won’t make a single penny’s long-term investment right now unless I see significant flash crashes. Market premiums are still high, and these influencers are unhelpful; when the market is rising, they talk about even higher highs, and the moment it turns bearish, they start discussing defensive plays. Your focus should be on understanding your wealth profile first, assessing asset allocation, and evaluating your liquidity. What if the market falls more?
- The market will soon show us a dead cat bounce, which will be an exhaustion rally; don't fall into that trap again.
- I will start swinging again once the index begins to stabilize and I see setups forming that meet my criteria and rules. Until then, I will remain on the sidelines, read books, and focus more on the crypto market.
- For now, fold your chips, let the market do its thing, and wait for it to normalize instead of forcing setups.
NIFTY... ELLIOT WAVES COUNTING....Dear friends,
As we see in the chart, Nifty is correcting rapidly from an all time high level.
While counting the Elliot waves, we can see that waves 1 and 3 on the downside have been completed.
The five waves of wave 3 are shown in the chart.
Now we can expect wave 4, which is likely to consolidate for a few days.
Wave 4 is likely to have moves on either sides and it can form a zig zag or a flat or a triangle pattern. I had shown a flat pattern of wave 4 in the chart.
As per my view, the right time to invest will be at the end of wave 5 which is likely to be around 24000 to 24300 levels.
Get ready to ride the bumpy wave 4 guys!
Trade with appropriate stoploss.