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Nifty Intraday Levels | 9-SEP-2024#Optionbuyers #Niftyoptionscalping 1️⃣ Zones you always Like:- 👉Green zone- Institutional support 👉Red zone - Institutional resistance 👉Gap between institutional zones is always of 100 points 👉Zone is created with the help of pivot points and Fibonacci 👉Advance version of price action 👉Trades based on Nifty future chart 2️⃣ Trade Execution:- 👉Trade based on order flow data 👉Timeframe - 1 min and 5 min 👉Risk Reward Ratio always 1:2 👉Strike price always ATM & slightly ITM 👉Maintain Position sizing according to your own method 3️⃣ House Rules in trading:- 👉Sharp at 9:15 AM 👉Priority to risk management 👉Fast execution (morning breakfast) 👉Stop-loss 10 points (strictly) #ThankU For Checking Out Our IDEA , We Hope U Liked IT 📌 🙏FOLLOW for more ! 👍LIKE if useful ! ✍️COMMENT Below your view !
NSE:NIFTY1!
by ReviveTraders
#Nifty directions and levels for September 9th.Good morning, friends! 🌞 Here are the market directions and levels for September 9th. Market Overview: Global markets are showing a bearish trend, as indicated by the Dow Jones, and our local market reflects a similar sentiment. However, today, the market may open with a gap down, as SGX Nifty is indicating a negative move of around -80 points. Both Nifty and Bank Nifty experienced a solid correction in the previous session. Structurally, we can expect today's movement to shift from correction to consolidation, and we can check the charts to see how this is likely to unfold since both Nifty and Bank Nifty are showing the same sentiment. Nifty: Current View: Gift Nifty is indicating a negative start, but when we look at the wave structure, we can see a 5th sub-wave within the 3rd wave (minor swing). Structurally, further long correction seems less probable, so if the market faces rejection around the immediate support level, we may see a bounce back of 23% to 38% in the minor swing. According to the wave structure, this bounce back could be the 4th wave. This is our first scenario. Alternate View: If the correction doesn't result in a pullback or if the market breaks the immediate support level decisively, the 3rd wave could extend further to levels between 24,717 and 24,672. > In this case, we should focus on the structure, as the 5th wave is a distribution wave. If the market breaks the support level with a solid candle or consolidates around it, the correction will likely continue further. However, if the market approaches the support level gradually, it may not fall significantly.
NSE:NIFTY
by Manickamtraders
Nifty 50 Weekly Analysis: Key Levels, Trends As we step into this trading week, the Nifty 50 index presents a mix of both bearish and bullish sentiments, driven by recent market movements and option chain data. Here’s a comprehensive look at the possible scenarios and the trading strategies to consider. 1. Market Overview and Current Sentiment **1-Hour Chart Analysis:** Looking at the 1-hour chart, Nifty 50 has seen a recent pullback after touching highs around 25,333.65. The index faced strong resistance at the 25,252.25 level and has since been in a correction phase, breaking below the 25,000 mark. This downward movement suggests bearish sentiment in the short term, especially after breaking the support level at 25,018.60. The key level to watch on the downside is 24,338.60, which has acted as significant support in the past. **15-Minute Chart Analysis:** The 15-minute chart further confirms the short-term bearish trend. After a sharp drop below 24,900, there is some consolidation seen around the 24,850-24,880 range. However, any inability to move above the 24,988.75 level may continue to attract selling pressure. 2. Key Levels to Watch for the Week Resistance Levels: 25,018.60: Immediate resistance level, where a breakout may indicate a reversal. 25,167.35 - 25,252.25:** Strong resistance zone; crossing above this could change the market sentiment to bullish. - **Support Levels:** - **24,868.50:** Short-term support; a breakdown below could accelerate selling. - **24,338.60:** Critical support zone; breaking below this may suggest a deeper correction. ### **3. Option Chain Analysis and Sentiment** Analyzing the option chain data, we see a higher concentration of Open Interest (OI) in the 25,000-25,200 call strikes, indicating significant resistance and bearish sentiment among the call writers. On the put side, strong support is visible at the 24,500 level with substantial put OI, suggesting that bulls may defend this level. - **Put-Call Ratio (PCR):** The current PCR is moderately bullish but with cautious optimism. Traders should watch for any changes in OI shifts for directional clues. ### **4. Predicted Market Trend for the Week:** - **Short-Term Bias:** Bearish, unless Nifty decisively moves above 25,018.60. - **Long-Term Bias:** Neutral to Bullish, provided key supports hold, especially at 24,338.60. ### **5. Trading Strategies for the Week** - **Intraday/MIS Trades:** - **Bullish Strategy:** Buy above 25,018.60 with a target of 25,167.35 and 25,252.25. Stop Loss at 24,900. - **Bearish Strategy:** Short below 24,850 with a target of 24,750 and 24,600. Stop Loss at 24,988.75. Carryforward Trades: - **Bullish Positional Trade:** Enter long positions if Nifty sustains above 25,252.25, with a target of 25,400 and 25,500. - **Bearish Positional Trade:** Consider shorting if Nifty breaks and sustains below 24,338.60, targeting 24,000. ### **6. Sector Analysis for the Week** - **Banks:** Showing mixed trends; Bank Nifty could remain volatile, so focus on shorting at resistance levels. - **IT Sector:** Seems relatively stable, with some signs of consolidation. Consider buying on dips. - **Auto and FMCG: Showing resilience; long trades are suggested if the market sentiment improves. Conclusion This week, Nifty 50 is at a critical juncture with the potential for both upward and downward movements. Keeping an eye on the key levels and adopting a flexible trading strategy will be essential. Stay cautious and watch for early signs of trend changes, especially in the context of global cues and market sentiment.
NSE:NIFTY
by theithachi
#Nifty Directions and levels for the 2nd Week of S Global Market Overview Last week, the global market had four red candles, which suggests that the negative trend might continue this week as well. But if you ask, "Will this correction go on for two or three more weeks?" my answer is no. The market structure shows that if it keeps correcting, it may find support near the previous low. If that happens, the market could start moving sideways. This is the current global market sentiment. Our Market Both Nifty and Bank Nifty followed the global sentiment last week. Structurally, we can expect further correction. Let’s look at the charts. However, both Nifty and Bank Nifty share the same overall structure. Nifty In Friday’s session, the Dow Jones closed with a solid red candle, so the first session of the week may open negatively. If this occurs, we can expect a correctional target of the 61% Fibonacci level on the downside. In the meantime, it may consolidate around the 50% level (24716). > In this case, the 61% Fibonacci level serves as a key support zone. After the market reaches this level, we could see a bounce back of about 23% to 28% in the current swing. This is our first scenario.
NSE:NIFTY
by Manickamtraders
Nifty Intraday Support & Resistance Levels for 09.09.2024On Friday, Nifty opened a gap down due to negative global cues and heavy selling pressure, breaking the near-daily demand zone and entering the far-daily demand zone mentioned in the previous post. It closed at 24852.15, losing 293 points. If Nifty does not sustain above 24771, we may see a further decline towards 24523 - 24636 or even lower. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) has shifted from positive to sideways. Support Levels: Near Demand/Support Zone (Daily): 24771 - 24859 (current price inside this zone) Far Demand/Support Zone (Daily): 24523 - 24636 Far Support (61.8% FIBO Retracement Level): 24444 Far Demand/Support Zone (Weekly): 23893.70 - 24367.50 Resistance Levels: Near minor Supply/Resistance Zone (15m): 24916 - 24959 Far Supply/Resistance Zone (5m): 25049 - 25084 Far Supply/Resistance Zone (75m): 25127.75 - 25198.60 Far Supply/Resistance Zone (Daily): 25235.80 - 25321.65
NSE:NIFTY
by PriteshPalan
Nifty weekly analysis for 09/09/2024.The index after a long time has given some momentum on intraday basis and closed below the psycological number of 25k. A bearish engulfing candle on the weekly time frames shows some weakness on the charts. If the market starts trading below the 24800 levels, there are chances of testing lower levels. Hourly 200 ema is also around the support zone, while the daily candle closed below the 20 ema. Major support levels :- 25800, 24600, 24230 Resistance levels :- 24960, 25100 The level and the pattern formed around it shows a significant bearish upcoming move in the market. There are chance of market testing the lower levels as the market cycle seems to chance. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by TheMamboMomentum
06 Sep 2024 - Nifty loses 380 pts, will Bear attack start now ?Nifty Stance Neutral ➡️ Nifty has only fallen 379.95pts ~ 1.5% this week and it is pretty early to go bearish, but the structure gives a lot of hope for a bear attack. You all might agree that we are in an overvalued territory, even if we fall 20%, we might still be overvalued. If you look at the daily candle, a strong double top is forming. For conclusive evidence, the markets have to trade below 24086, which is 3.2% lower than the current levels.  US markets fell last week and have a better-looking double top than ours. Again for conclusive evidence, we may need SPX to trade below 5137 which is like 5% below current levels. I am maintaining a neutral stance and would like to go short if 24537 is getting taken out next week. Personally, I do not see us dropping below 24200 this week (I have short positions @ 24200 PE and may have to run for cover if we test those levels by Tuesday).
NSE:NIFTY
by viswaram
Sideways September? As marked on the Monthly time frame of Nifty - During an upmove in the market when such hanging man pattern is formed, - The following month has shown Bearish/Sideways movement in the market - Similar "Hanging man" candle can be observed for the month of August As of now since the commencement of September trading month we have seen a fall of 481 points / 1.9% from the ATH from 25333.65 to 24852.15 Bringing Nifty to its crucial level that acted as resistance for the month of August - There's a possibility this level can turn into CIP and act as a support - If this level breaks, next support can be seen at the levels of 24150 / Approximately 4.5% from ATH giving good buying opportunities in Equity as well
NSE:NIFTY
by M92_S
Nifty Intraday Levels | 6-SEP-2024#Optionbuyers #Niftyoptionscalping 1️⃣ Zones you always Like:- 👉Green zone- Institutional support 👉Red zone - Institutional resistance 👉Gap between institutional zones is always of 100 points 👉Zone is created with the help of pivot points and Fibonacci 👉Advance version of price action 👉Trades based on Nifty future chart 2️⃣ Trade Execution:- 👉Trade based on order flow data 👉Timeframe - 1 min and 5 min 👉Risk Reward Ratio always 1:2 👉Strike price always ATM & slightly ITM 👉Maintain Position sizing according to your own method 3️⃣ House Rules in trading:- 👉Sharp at 9:15 AM 👉Priority to risk management 👉Fast execution (morning breakfast) 👉Stop-loss 10 points (strictly) #ThankU For Checking Out Our IDEA , We Hope U Liked IT 📌 🙏FOLLOW for more ! 👍LIKE if useful ! ✍️COMMENT Below your view !
NSE:NIFTY1!
by ReviveTraders
#Nifty directions and levels for September 6th.Good morning, friends! 🌞 Here are the market directions and levels for September 6th. Market Overview: The global markets are showing a moderately bearish trend, as indicated by the Dow Jones. Our local market also reflects a similar sentiment. However, today, the market may open with a gap-down, based on SGX Nifty’s negative indication of around -80 points. Both Nifty and BankNifty have been maintaining a range-bound sentiment. Will this continue today as well? The probability is high; however, we will need to confirm by checking the charts. Nifty: Current view: The market is still trading within a range, so we should wait for a proper range breakout even if it opens with a gap-down. If the market opens gap-down, we can expect immediate targets are the 78% Fibonacci level to the minor demand zone. After reaching this area, if the market consolidates or breaks solidly, the correction will likely continue toward lower levels of 24998 to 25037. That means we can expect the correction or next move only if it breaks the immediate support level. This is our first scenario. Alternate view: On the other hand, if the market shows a strong pullback initially or if it rejects the immediate support level, it might try to maintain the range-bound structure. In this case, we could expect a bounce back of around 38% to 61% in the minor swing.
NSE:NIFTY
by Manickamtraders
5
Nifty Intraday Support & Resistance Levels for 06.09.2024On Thursday, Nifty opened with a gap up, entering the 15m supply zone (25260 - 25285) mentioned in the previous post. It dropped nearly 150 points from the day's high to 25127.75 before closing at 25145.10. Both the weekly trend (50 SMA) and daily trend (50 SMA) remain positive. Support Levels: Near Demand/Support Zone (Daily): 24964 - 25052 Near Demand/Support Zone (Daily): 24771 - 24859 Resistance Levels: Near Supply/Resistance Zone (5m): 25235 - 25258
NSE:NIFTY
by PriteshPalan
Nifty 50 Bearish Outlook for the Month: High Caution AdvisedDescription: 1. Monthly Chart Insights: Nifty 50 remains in bearish territory for the current month, with a notable formation of a negative candle pattern. The open = high candle is a key indication of bearish sentiment. Additionally, the Relative Strength Index (RSI) is hovering above the 80 level, signifying an overbought condition. This suggests the market is trading at a premium, raising concerns for a potential downside correction. 2. Daily Chart Overview: On the daily timeframe, further bearish divergence is visible in the RSI, adding weight to the bearish outlook. The index is also trading below its Least Squares Moving Average (LSMA) of the 25-day close, reinforcing the likelihood of continued downward momentum. 3. Global Market Cues: Globally, the market sentiment remains weak, with major indices experiencing a drag of 3% to 4%. This provides additional bearish cues for Nifty 50, aligning with the negative outlook on a macro level. 4. All-Time High Considerations: The ATH (All-Time High) of 25,333 is expected to act as a formidable resistance, with little probability of being tested in the short term. A period of consolidation or further downside is anticipated over the coming months. Key Takeaway: Investors and traders are advised to exercise extreme caution and patience in their trading decisions, given the prevailing technical and global factors. Risk management should be a priority, as the market may experience increased volatility in the near term. Kudos to all traders for navigating these uncertain times. Trade cautiously, trade patiently.
NSE:NIFTYShort
by kunalsinghbalyan
#Nifty directions and levels for September 5th.Good morning, friends! 🌞 Here are the directions and levels for September 5th. Market Overview The global markets are maintaining bearish pressure, as indicated by the Dow Jones. Our local market has been showing a moderately bullish sentiment. However, based on a 90-point positive signal from GiftNifty, we may see the market open with a gap-up today. Both Nifty and BankNifty have been range-bound. What about today? It’s likely that the range will continue, but let’s take a look at the charts. Nifty Current View If the market opens with a gap-up, the 78% level will act as crucial resistance. If it consolidates or breaks this level, we can expect the next targets to be a minimum of 25,333 to 25,366. This is our first scenario. Alternate Scenario On the other hand, if the market rejects the 78% level or takes a sharp decline initially, the range-bound market is likely to continue. The expected targets would be a minimum of 38% to 61% of the minor swing.
NSE:NIFTY
by Manickamtraders