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Niftytrend

NIFTY - Elliott Wave Outlook Timeframe: Weekly NSE NIFTY began an impulsive move after hitting a low of 15183.4 . Based on the wave count, the price completed wave (5) of wave (3) at 26277.3 and has since started to decline. The price is currently in a wave (4) correction phase. Let’s switch to the daily timeframe for a closer look at the details. Timeframe: Daily On the daily chart with a neckline at 24,750 , we’re observing a bearish head-and-shoulders pattern forming. If the price breaks below this neckline, Nifty could drop significantly, potentially reaching the demand zone or surge point of the pattern. However, if the price fails to break this neckline, it indicates weakness in the bearish momentum, signaling a possible reversal According to the Elliott Wave Principle, if wave 5 is an extended wave, the correction often occurs near sub-wave 2 of the previous impulse, especially if it falls below sub-wave 4. So, 24,570 will be a crucial level for Nifty. We can expect the price to move up by no more than 126% of wave A within the correction. Otherwise, there’s a risk of mistaking wave B for wave 3. Whatever scenario Nifty chooses, it’s better to let Nifty commit to a clear direction before we commit to the market. We will update further information soon.
NSE:NIFTY
by Trade-Technique
7
11th Oct 2024 - Stance is bearish even though we fell only 81ptsNifty Stance Bearish ️⬇️ On a week-to-week basis, Nifty only dropped 81 points, but the real reason I am still bearish is because the pullback we had on the 9th was not powerful enough to take out the last swing low. You can also notice the 50 EMA crossing the 200 EMA from top to bottom. I am using a 63mts custom time frame, but this must be true even for the hourly TF. All this happened even when the global markets were rallying. By the way, the US markets' SPX hit new all-time highs. This shrug-off in our markets may have to do with the new SEBI FnO rules. As a surprise to many, the BankNifty weekly index is getting removed and we will have only one Monthly expiry from December 2024. Has this spooked the markets, I think so. We will discuss that in a while. For the week of 14th to 18th Oct, I wish to start with a bearish stance and then go neutral if 25230 is taken out decisively.
NSE:NIFTYShort
by viswaram
NIFTY INTRADAY LEVELS FOR 14/10/2024BUY ABOVE - 25060 SL - 24970 TARGETS - 25120,25180,25230 SELL BELOW - 24970 SL - 25060 TARGETS - 24890,24800,24700 NO TRADE ZONE - 24890 to 24970 Previous Day High - 25050 Previous Day Low - 24890 Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. Please NOTE: this levels are for intraday trading only. Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. Request your support and engagement by liking and commenting & follow to provide encouragement HAPPY TRADING 👍
NSE:NIFTY
by Jagadheesh_JP
Nifty Intraday Support & Resistance Levels for 14.10.2024On Friday, Nifty opened flat to slightly negative, trading within a narrow 100-point range throughout the day. It made a high of 25,028.65 and a low of 24,920.05, eventually closing at 24,964.25, down by 34 points from the previous close. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) is sideways. The support and resistance zones are unchanged from the last update. Demand/Support Zones: Near Demand/Support Zone (Daily): 24,753.15 - 25,130.50 (current price inside the zone) Far Demand/Support Zone (Daily): 24,522.95 - 24,636.35 Far Demand/Support Zone (Daily): 24,099.70 - 24,196.50 Far Demand/Support Zone (Weekly): 23,893.70 - 24,419.75 Supply/Resistance Zones: Near Supply/Resistance Zone (15m): 25,195.85 - 25,234.05 Far Supply/Resistance Zone (15m): 25,420 - 25,485.05 Near Supply/Resistance Zone (Daily): 25,739.20 - 25,907.60 Far Supply/Resistance Zone (Daily): 26,151.40 - 26,277.35
NSE:NIFTY
by PriteshPalan
"Tomorrow’s Nifty 50 Secret: Trade with 90% Accurate Breakout LeFor tomorrow's Nifty 50 trading based on the chart: The orange levels on your chart (24,948.20 and 25,064.80) are key pivot levels where high-probability trades can be taken. If the market opens below 24,948.20, this level acts as a resistance zone, signaling potential for a selling opportunity as the market may face downward pressure. If the market opens above 25,064.80, it becomes a support zone, signaling a buying opportunity as the market might continue upward momentum. Use the 5-minute timeframe to closely track the price movement. Entry strategy: Buy trade: If Nifty breaks above 25,064.80 and holds, enter a long position for a breakout. This becomes a strong support level if the market opens above it. Sell trade: If Nifty breaks below 24,948.20 and sustains, enter a short position. This becomes a solid resistance level if the market opens below it. These levels are 90% accurate, and the plan is to wait for a clear breakout beyond these orange lines before entering a position. Key takeaway: The direction of the opening will decide whether these levels act as buying or selling zones, making them crucial for your trade setups.
NSE:NIFTY
by XTrap_000
NIFTY50: INSTITUTIONAL LEVELS FOR 11/10/2024QUICK GUIDE - Use 5 minute timeframe - Try to take enters at retest - Use multiple confirmation - Read full description before investing - Try to take ATM options or above Explanation: This is a very useful trading system. This means that you should not take a trade blindly, but rather that there is another confirmation to take the trade you can use this for perfect entry and perfect exit This trading opportunity is based on volume, previous price, and price range , are included Entry/Exit point's: - It has very easy entry and exit points - In this pair of lines with two colors are given (RED AND BLUE) - In this the blue line is used to take long entry and the red line is used to take short entry (But it is all based on a more conformation from your trading plan) Stop Loss/Take Profit: Stop Loss - According to this, if you take a long trade, its stop loss will be the red line just below ( A trade can exit either when the price crosses the red line or the 5 minute candlestick crosses the red line. (This can be done according to your preference) ) - A short entry should use the opposite rules to a long entry Take Profit -When you take a long entry according to the profit to be booked is on the next red line above. ( Or if there are other reasons, it can be a safe exit ) - Opposite rules for booking profit on long entry are to book profit on short trade. ( The blue line above is the stop loss of short entry ) Timeframe: According to this, the time frame you should use while taking trades is 5 minutes time frames . (5 minute time frame works well in this) Risk Disclaimer: Trading carries significant risk and is not suitable for all traders. You may lose some or all of your capital in a matter of minutes or hours. Market conditions can change rapidly, and prices can move against you quickly. You may not always be able to exit at a favorable price, and you may be required to hold a position overnight, exposing yourself to additional risk. Day trading involves high risk, high leverage, and high stakes, and you should only trade with funds you can afford to lose. Please carefully consider your financial situation, risk tolerance, and trading objectives before engaging in day trading. Engagement: Share your insights, ask questions, and learn from others in the community. Whether you're a seasoned pro or just starting out, we're all in this together. What's your take on the current market conditions? Which trading strategies are working for you? Let's discuss and help each other grow as traders! Comment below and let's get the conversation started! Original Content: This trading setup is the result of my own innovation and expertise, and is not based on any publicly available information or third-party systems. It is a reflection of my dedication to developing a competitive edge in the markets.
NSE:NIFTY
by tony_fx_sm
#nifty directions and levels for October 11th.Good morning, friends! 🌞 Here are the market directions and levels for October 11th. Market Overview: There have been no significant changes in the global or local markets. The global market is displaying a bullish sentiment, while our local market is showing a moderately bearish trend. A neutral to slightly gap-down opening is anticipated today, with SGX Nifty indicating a negative -20 points as of 8 AM. In the previous session, Nifty consolidated while Bank Nifty saw a solid upward move; however, it closed near the previous day’s high. Structurally, both indices differ, but sentiment suggests that major movements are slowing down. so If the market opens neutral, it may consolidate between nearby support and resistance levels. After that, if a breakout occurs, we can follow the direction—whether to the upside or downside. This is our primary direction for today. Let’s take a closer look at the charts. Nifty Current View: If the market starts neutral or negative, it may find support around 24,924 to 24,900. If support is found, Nifty could consolidate between 24,924 and 25,001 on the upside. After this, if the range breaks, we can follow the direction, whether it’s to the upside or downside. This is our first variation. Alternate View: The alternate view suggests that if the market breaks or consolidates around the immediate support level (24,924), the correction may continue, reaching at least 78% to the downside.
NSE:NIFTY
by Manickamtraders
NIFTY MATHEMATICAL LEVELS FOR THIS WEEKThese Levels are based on purely mathematical calculations. Validity of levels are upto expiry of current week. How to use these levels :- * Mark these levels on your chart. * Safe players Can use 15 min Time Frame * Risky Traders Can use 5 min. Time Frame * When Candle give Breakout / Breakdown to any level we have to enter with High/Low of that breaking candle. * Targets will be another level marked on chart * Stop Loss will be Low/High of that Breaking Candle. * Trail your SL with every candle. * Avoid Big Candles as SL will be high then. * This is one of the Best Risk Reward Setup. For Educational purpose only
NSE:NIFTY
by StocksOptionBlaster
Where the Nifty 50 index might head in the next few days?Technical Analysis: The chart indicates that Nifty is currently near the 25,000 mark, with key Fibonacci retracement levels acting as resistance and support zones. A notable resistance is at the 0.382 level around 25,277, while the 0.618 level near 25,653 might be another hurdle if the index manages a short-term rally. Given the recent bearish momentum, a further drop could test the 24,900 level, especially if the index fails to break above the 25,277 resistance. Outlook: Given the technical setup and the current FII-DII dynamics, the Nifty could remain under pressure if FII selling continues. Traders should watch the support at 24,900 closely, as a break below this level could signal further downside. Conversely, if the Nifty can hold above 25,000 and gain momentum past 25,277, it may target the 25,653 level as the next resistance. The outlook is cautious, with a bias towards a bearish trend unless there's a reversal in FII sentiment or a strong technical breakout above key resistance levels
NSE:NIFTYShort
by strategystack
Nifty Intraday Support & Resistance Levels for 11.10.2024On Thursday, Nifty opened with a gap up, reaching a high of 25,134.05 before pulling back to a low of 24,979.40 in the final 30 minutes of trading. It closed slightly higher at 24,998.45, gaining 16 points from the previous session. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) is sideways. Support and resistance zones remain unchanged from the last post. Demand/Support Zones: Near Demand/Support Zone (Daily): 24,753.15 - 25,130.50 (current price inside the zone) Far Demand/Support Zone (Daily): 24,522.95 - 24,636.35 Far Demand/Support Zone (Daily): 24,099.70 - 24,196.50 Far Demand/Support Zone (Weekly): 23,893.70 - 24,419.75 Supply/Resistance Zones: Near Supply/Resistance Zone (15m): 25,195.85 - 25,234.05 Far Supply/Resistance Zone (15m): 25,420 - 25,485.05 Near Supply/Resistance Zone (Daily): 25,739.20 - 25,907.60 Far Supply/Resistance Zone (Daily): 26,151.40 - 26,277.35
NSE:NIFTY
by PriteshPalan
#nifty directions and levels for October 10th.Good morning, friends! 🌞 Here are the market directions and levels for October 10th. Market Overview: The global market is displaying bullish sentiment, while our local market shows a moderately bearish trend. A gap-up opening is anticipated today, with SGX Nifty indicating an increase of approximately +110 points as of 8 AM. In the last session, we saw a lot of movement due to the RBI policy. The market is still somewhat weak overall, but the Gift Nifty is showing a positive start with around +100 points gap-up. This is because of global factors, like the Dow Jones going up strongly after the FOMC minutes. Gift Nifty also reacted to this. What should we do with this sentiment? We should wait for a breakout in a certain range. If the market breaks this range, we can follow that direction because of the mixed local and global factors. I'll explain this more clearly in the charts. Nifty and Bank Nifty have similar chart patterns. Nifty Current View: The current view suggests that if the gap-up doesn't sustain or the market rejects near the immediate resistance level of 25,173, then the correction may likely continue with a minimum downside of 78%. However, one additional confirmation is needed: after rejection, the market should break the lower trendline or the previous day's closing candle. Alternate View: The alternate view suggests that if the gap-up sustains, the market may consolidate around the 25,173 level. After consolidation, if this level is broken, we can expect the pullback to continue, targeting a minimum upside level of 25,272 to 78%.
NSE:NIFTY
by Manickamtraders
Nifty Intraday Support & Resistance Levels for 10.10.2024On Wednesday, Nifty opened gap up, briefly crossed the Daily Demand zone (above 25,130.50) and reached a high of 25,234.05. However, it couldn't sustain the momentum and dropped to a new day low of 24,947.70, finally closing at 24,981.95, losing 31 points from the previous close. Keep a close watch on the key support level at 61.8% FIBO (24,804.25). The Weekly Trend (50 SMA) is still positive, while the Daily Trend (50 SMA) remains sideways. Demand/Support Zones: Near Demand/Support zone (Daily): 24,753.15 - 25,130.50 (current price inside the zone) Far Demand/Support zone (Daily): 24,522.95 - 24,636.35 Far Demand/Support zone (Daily): 24,099.70 - 24,196.50 Far Demand/Support zone (Weekly): 23,893.70 - 24,419.75 Supply/Resistance Zones: Near Supply/Resistance Zone (15m): 25,420 - 25,485.05 Near Supply/Resistance Zone (Daily): 25,739.20 - 25,907.60 Far Supply/Resistance Zone (Daily): 26,151.40 - 26,277.35
NSE:NIFTY
by PriteshPalan
Nifty weekly expiry analysis for 10/10/2024Market has given a nice movement and for two days it remained in a range but is volatile. There are chance of market either follow the bearish trend or form a 'W' pattern. Nifty has closed around crucial levels from where it can either reverse the trend or continue falling. Major support level :- 24760, 24600 Resistance level :- 25210, 25480 The weekly expiry can show a trending move after a break out or break down. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by TheMamboMomentum
#nifty directions and levels for October 9th."Good morning, friends! 🌞 Here are the market directions and levels for October 9th. Market Overview: The global market is still maintaining a moderately bullish sentiment, while our local market shows a moderately bearish trend. A neutral to gap-up opening is expected today, with SGX Nifty indicating a positive move of around +20 points as of 8 AM. Today, we have a major event: the RBI monetary policy announcement. This means the market is likely to move based on this data, which will be released around 10 AM. Therefore, technical analysis may not play a significant role today. However, structurally, both the Nifty and Bank Nifty remain in a bearish bias since they haven't broken the 38% Fibonacci level in the overall correction. So, if the market rejects the key resistance level, we can expect the correction to continue."
NSE:NIFTY
by Manickamtraders