Nifty support blue line , resistance red line. Play accordingly with support and resistance. Today strategy is buy on dip,if by chance nifty get to this area 17775 to 17700buy nifty at 17775 to 17700 area. Sell below 17693
As per Chart Bank nifty has been trading in range Bound .
You Can See Bank Nifty facing resistance fib Level 61.8% From last three days and Not Seeing any heavy rejection ..
If bank nifty Cross's 41750 to 41800 level .. its Breakout area For Bank Nifty.
If Cross 41800 Level Then We can See good Upside Movement In Bank nifty.
Reversal below 41700 level go short .
Nifty has given a nice bullish candle on the daily closing and gain 150 points. The market has closed near a resistance zone and if the market crosses and sustain above the levels, bullish trades can be initiated.
On the hourly time frame, market has closed between both the moving averages. After the initial up move the market has consolidated and nice trending...
if gapup opening above 17920 and sustain above 17925, we could see rally to 18000 and then to 18100. 17925 is 200SMA on 1hr time frame. in case of gapdown , better to avoid trade as it will be a managed expiry
Price is making lower lows while the RSI is making lower highs which is clear sign of RSI Bearish Divergence.
Entry
We can enter in long trade after breakout above resistance zone with strong bullish candle.
Stoploss
Below the resistance zone.
Target
Target will be the next resistance zone.
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Nifty will be slightly gap up opening in today's session. The expected opening above the 17750 level and the 17750 to 17790 level is the consolidation range and if nifty breaks the 17790 level this level then the possible upside go up to 17870+ in today's session. in case nifty trades below the 17750 level than possible downside rally up to 100-200 points.
#nifty - Happy morning friends. Today our market has RBI monetary policy meeting. This is an important event. Therefore, most likely the market will follow the event. But my point is that The global market indicates a positive start. The market nature is moderately bullish. It may start with Gap-up. After that, if the market rejects around hsz to swing high, then...
Nifty50 support and resistance for 8.2.2023
Today market may break trend line which is coming from budget day may test the 17878 and 18921
If got rejected and break yesterday low then 17588 and 17522
Nifty is in a symmetrical triangle with chances of imminent breakout on either side most likely tomorrow or on expiry day.
Bearish bias because one can see on 4 hr chart Nifty formed a M pattern and then broke below the neckline and then retested and tried to go above the neckline but ended the day with a shooting star.
On the downside immediate target of...
NIFTY is Trading in SYMETRIC TRIANGLE , Breakout will give a GOOD move in coming days .
Trade carefully as RBI RATE DECISION is coming .
Trade according to given LEVELS .
Nifty right now side waves ..
first clear direction if upside move am expecting beak 17800 sustain above
Ready for 18200
Remember my point wave path till not clear .
trend positive 17800 above
Only for educational purpose for my side
Nifty View and Support & Resistance Levels for Tomorrow..
Expectation : Still BEARISH - But If sustains above 17794 we can expect BULLISH move
Buyers and Sellers Zones - When price breaks the zone, Buyers zone will become Resistance and Sellers zone will become Support.
Refer the chart for detailed Intraday Support and Resistance levels.
Happy Trading!!
NIFTY SUPPORT AND RESISTANCE FOR F&O DAY TRADING
Support Zones For nifty Intraday Trading
First Support Zone For nifty50 – 17620 - 17635
Second Support Zone For nifty50 – 17445 - 17458
Third Support Zone For nifty50 – 17348 - 17364
Resistance Zones For nifty Intraday...
