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#Nifty directions and levels for August 7th.Good morning, friends 🌞 Here are the directions and levels for August 7th. Market Overview The global market has been in a minor range, and our local market has a moderate bearish sentiment. Today, the market may open with a gap-up, indicated by a 200-point positive start in GIFTNIFTY. Both Nifty and BankNifty share the same range market sentiment. Let's take a closer look: Even though the previous session opened with a gap-up, it didn’t sustain, and both Nifty and BankNifty maintained their bearish bias. Today also the market may open with a minimum of 150 points positive. What about today? If this happens structurally, it could turn into a range market. Range market movements are usually difficult to predict. However, my expectation is that if the market opens with a gap-up, the 24,292 level will act as immediate resistance. If the market consolidates around there, we can expect a pullback continuation if it breaks this level, with targets expected at 24,364 up to the Fibonacci level of 61%. This is our first variation. Alternatively, if the gap-up doesn’t sustain, it may consolidate within the previous day's range. In this variation, a correction is anticipated only if it falls below the previous low.
NSE:NIFTY
by Manickamtraders
1
Nifty Intraday Support & Resistance Levels for 07.08.2024On Tuesday, Nifty opened gap up, entered the 15m Supply zone mentioned in the last post, and then fell 400 points from the top before closing at 23992.50. The weekly trend (50 SMA) is positive, and the daily trend (50 SMA) is now sideways. Support Levels: Major Demand/Support Zone (Daily): 23350 - 23667 Resistance Levels: Near Supply/Resistance Zone (30m): 24266 - 24348 Far Supply/Resistance Zone (30m): 24686 - 24745 Far Supply/Resistance Zone (75m): 24754 - 24835 Note: As of writing this, GIFTNIFTY is trading 280 points positive, indicating we might see a gap-up opening, and the near 30m Supply zone may get violated.
NSE:NIFTY
by PriteshPalan
Nifty View 06-08-2024NSE:NIFTY Nifty has rebounded from 23,890 to 24,350, a gain of approximately 450 points. However, upon applying the Fibonacci retracement from 25,078 to 23,893, we observe that the 0.38 Fibonacci level coincides with the 24,350 zone. Notably, Nifty encountered selling pressure once again at this level. The market is currently experiencing significant selling pressure and a general sense of weakness. At present, there are two potential outcomes. 1. If Nifty decisively close below the 23890 zone, we can anticipate a potential decline towards the 23200 level in the near future. 2. In the event that the Nifty holds the 23890 zone and establishes a double bottom formation, there is a possibility of a market reversal or a range-bound movement between the 24400 and 23900 zones. Always respect SL & position sizing =================== Trade Secrets By Pratik =================== Disclaimer Not SEBI REGISTERED This is our personal view and this analysis is only for educational purposes Please consult your advisor before investing or trading You are solely responsible for any decisions you take on basis of our research
NSE:NIFTY
by Trade_Secrets_By_Pratik
Nifty Intraday Levels | 6-AUG-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 August 6th.Good morning, friends 🌞 Here are the directions and levels for August 6th. Market Overview The global market experienced a pullback, but sentiment remains bearish, and our local market also has the bearish sentiment. Today, the market may open with a gap-up, indicated by a 150-point positive start in GIFTNIFTY. Both Nifty and BankNifty are reflecting the same sentiment. Let's take a closer look: 1.Basic Structure: Nifty and BankNifty both fell drastically in the previous session. Whenever the market takes a sharp movement, it will take some consolidation afterward. How will it work in today's session? We can look at that. > As per the structure, there is no more pullback in this minor swing. So if the gap-up doesn’t sustain or if the initial market declines, we can expect minor consolidation between the previous low to 38% Fibonacci level to the upside. After that, if it breaks yesterday's low, then the correction will likely continue to the level of 23801. This is our basic structure. 2.Alternate View: The alternate view is similar to the consolidation, but this time we wouldn't expect a correction. Instead, we can expect pullback continuation if it breaks the 38% Fibonacci level to the upside again. If it happens, we can expect the pullback target to the level of 50%. Once if it rejects there, then we can expect correction. Simply, it's also a range market variation. 3.Price Action Scenario: The third scenario is taken from the price action. If the initial market takes a solid pullback and closes above the 38% Fibonacci level, then it may continue further to the level of 61% with minor consolidation. Do you want to realize if it is progressing in this variation? Just observe if it consolidates around the immediate resistance level or if it forms an inside bar, then it may continue the rally. These are my expectations for today. In my personal opinion, if the market enters consolidation, trading will become more challenging. If you choose to enter, reduce your position size. However, if you have a clear direction, you can trade more effectively.
NSE:NIFTY
by Manickamtraders
Nifty Intraday Levels 5-AUG-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 Intraday Trade Setup For 6 Aug 2024NIFTY Intraday Trade Setup For 6 Aug 2024 Bullish-Above 24350 Invalid-Below 24300 T- 24700+ Bearish-Below 23890 Invalid-Above 23940 T- 23515 NIFTY has closed on a bold bearish note with 2.68% cut. We discussed in the weekend after 25K was tested that index has formed a short term top. It opened directly with a very big gap down and 10 o'clock range was to be used as per trade setup. Range broke downside below 24190 and gave a good move till 23895, 300 points gain with 100 points risk. Tomorrow below 23890 we will sell again and overall view will be sell on rise. 23500 zone will be a strong support. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 24350 then we will long for the target of 24350. For selling we need a 15 Min candle close below 23890. T- 23515. 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 the August 2nd week.Good evening, friends! 🌺🍬 Here are the market directions for the second week of August: Global and Local Market Overview Last week, both global and local markets experienced significant volatility, closing with a negative candle. On the weekly chart, the market shows a moderately bullish trend, but the 1-hour chart suggests a bearish sentiment. For this week, I anticipate a moderately bearish trend. Let's delve into the details. Nifty: Current View: - Nifty has completed the 5 sub-waves within the 3rd wave extension. Following this, a three-wave corrective pattern is expected. - The declines over the past two days, along with negative global market closures on Friday, suggest a bearish start on Monday. - If the market opens negatively, the 50% Fibonacci retracement level should act as strong support. If support holds, a 38% pullback is likely. - This pullback could be the 2nd sub-wave of the correction. If the market rejects this pullback and breaks the previous low, the correction will likely continue, targeting levels around 24365 to 78%. Alternate View: The alternate variation is a bit more complicated, but I will try to explain it simply. - If the initial pullback breaks the 38% Fibonacci level in the minor swing, it could reach the 61% and 78% retracement levels. - Usually, the one and two formations are very difficult to predict in the Elliott Wave. - Because the 2nd wave targets allow 90% of the 1st wave. - So, I use a common Fibonacci method: whenever the market breaks the Fibonacci level of 38%, it most often reaches 61% to 78%. - After that pullback, if it sustains or breaks the fib level 78%, then it may continue the rally further to the level of 25143 to 25209 (extension variation). - Or if it faces rejection at either one of the resistance levels (61% or 78%), it could turn into a correction. - However, we could take additional confirmation for the reversal that if both the EMA 20 and the Fibonacci level of 38% in the minor swing break, we can expect a reversal.
NSE:NIFTY
by Manickamtraders
ICICIBANK 1 hour Levels for swing Traders #Option's Certainly! Here are the intraday trading levels for the ICICIBANK : Intraday Trading Levels: For intraday trading in ICICIBANK , consider the following levels: Support & Resistance Trend Lines from Daily Chart: These trend lines provide important support and resistance levels. Previous Day High (PDH) and Previous Day Low (PDL): These levels act as support and resistance during live market hours. Remember that trading involves risks, and it’s essential to have a well-defined strategy and risk management plan. NOTE #This channel Purpose to share market ideas. Thanks for Watching🙏
NSE:ICICIBANKLong
by Optionclub
HDFCBANK 1 hour Levels for swing Traders #Option's Certainly! Here are the intraday trading levels for the HDFCBANK : Intraday Trading Levels: For intraday trading in HDFCBANK , consider the following levels: Support & Resistance Trend Lines from Daily Chart: These trend lines provide important support and resistance levels. Previous Day High (PDH) and Previous Day Low (PDL): These levels act as support and resistance during live market hours. Remember that trading involves risks, and it’s essential to have a well-defined strategy and risk management plan. NOTE #This channel Purpose to share market ideas. Thanks for Watching🙏
NSE:HDFCBANKLong
by Optionclub
Nifty50 Analysis of Monthly Charts₹₹Nifty50 in may showing negative divergences but because of money flows & everyone becoming Bullish on Market after election results. Nifty50 not move with charts & give upward breakout towards 2018 Trend line but Nifty50 slightly cross this. Now Nifty50 might take some break or move along with trend line. But a Blowoff Top is set in all major markets around the clock & starts of bear markets. Thanks you & Trade with proper risk management & consult your advisors.
NSE:NIFTYShort
by K_Dyadav
1
#Nifty directions and levels for August 5th.Good morning friends 🌞 Here are the directions and levels for August 5th. Market Overview Still the correction is continuing the Dow Jones chart, reflecting a bearish sentiment. Our local market also shares this sentiment. Therefore, today might see a significant gap down at the opening, as indicated by a 250-point negative start in GIFTNIFTY. There is still a tug-of-war between the Nifty and Bank Nifty charts. According to the wave structure, Nifty has a correctional structure, while Bank Nifty has a range-bound structure. >How does this affect the Nifty chart? It's just sentiment. If, during the correction, Bank Nifty supports it, then the correction would continue effectively. On the other hand, if it tries to maintain the range market, then it would take a pullback. If this happens, Nifty might undergo consolidation or possibly a pullback, because the banking sector has the major weightage in Nifty. However, I share the same direction for the Nifty and Bank Nifty charts. that, If the gap-down sustains (consolidates) or breaks the immediate support level with a solid candle, then the correction will likely continue further. This is our basic structure. Why Do I Mention the Pullback Levels of 23% and 38%? In this scenario, if the market takes a solid pullback in the initial phase, it could reach those levels. Usually, the trending market could take a maximum 23% to 38% pullback of the minor swing. but it won't sustain. If it rejects there, then the trend will continue once it breaks the previous bottom. That's why I mention those levels. What Should We Do If It Breaks the 38% Fibonacci Level? Whenever the trending market takes a pullback of more than 38%, the momentum will reduce a little bit. If this happens, we can expect some consolidation into a range market. and The range market targets are expected to be a minimum of 50%, 61%, and 78%. If you are an options buyer, the premium might not increase in this sentiment, so trade carefully.
NSE:NIFTY
by Manickamtraders
1