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Niftytrend

Nifty is showing correction ahead of Exit Polls Results Nifty showed correction for the 5th straight session, This is also the longest losing streak in last 7 months After Gap down opening, it remained in negative trend throughout the session A Bearish candle is formed on daily chart The imp upside hurdle is placed around 22630 level whereas downside support is around 22350 zone Track for price to form Price Action Patterns at Imp Levels, However market may show volatility during the last phase of elections Keep Tracking Charts *For Educational Purpose Learn & Practice Price Action setups
NSE:NIFTY
by Himanu_HATradeTalk1
30 May 2024 - Nifty did not break the 22519 decisively, bearish Over the last 1 week, Nifty hits a new ATH of 23110 and falls 3% ~ 693pts. On a week-2-week basis, we have only fallen 395pts ~ 1.72%. What is more important is that we have started a nice reversal, what needs to be seen is if we get a stronger fall this time. On every other occasion, the dip buyers emerged and ensured our indices were continuing the one-way trip i.e. upwards. Usually, every bull run will have a healthy correction, but in our case - we never even had a decent fall.  Yesterday we went short on Nifty and stayed neutral on BankNifty. Quite happy to see those trades went quite well. Nifty went all the way down to 22417 before retracing the support level of 22519 to close above. If we closed below 22519 today - it would have given a lot of confidence to the bears. Nevertheless, our view still remains bearish for Nifty and neutral for BankNifty. The real momentum should pick up once BN also joins N50 by breaking its support of 48661.
NSE:NIFTYShort
by viswaram
NIFTY prediction for tomorrow 31 May 24As we discussed, Nifty had a bearish structure; It has fallen by 287 points. If we look at the chart now: The market is trading in the bearish zone below 200 EMA. The market has taken support from the 0.50 Fib level while making a Morningstar pattern with a very nice volume spike. Price is trading below EMAs, showing a weak bull structure. If we look at the OI data: PCR = 0.53, which has fallen from 0.63, shows a market bearish structure. 22500 is going to be MaxPain. There is significantly more CE writing than PE writing, which shows that, right now, big players are just pushing the market to the downside. I am expecting: Case 1: Inside the Orange trendline, the market is going to be sideways in the range 22465-22613. Case 2: If the market breaks 22465 to the downside, we might see more bearishness to lower levels of 22200. Reasons: RSI < 40 falling from the upside shows a good bearish strength. RSI showing Bullish divergence. Price < EMA(13,200), which indicates a bearish market. The market has formed a lower high lower low structure in 15-min TH that indicates the market is bearish unless the market tends to form a Higher-High. PCR = 0.53 indicates huge bearishness. Price < VWAP shows that a weak market structure can lead to a bearish market. The market is making Morningstar star, which might force the market to hold the 22465 level. Verdict: Bearish or Sideways Plan of action : Case 1: Sideways: Sell 22450 PE & 22650 CE (Hedge it with 30/-) Case 2: Bearish: 22400 CE (Hedge it with 30/- CE) if the market continues bearish momentum.
NSE:NIFTY
by finnova_
6
#Nifty Directions and levels for May 30th.Good morning, friends! 🌺🍬 Here are the directions for May 30th: The global market continues to show a bearish sentiment based on the Dow Jones, while our local market also shows a bearish trend. Today, the market may open with a slight gap-down, as indicated by GiftNifty, which shows a decrease of 70 points. But, I'm not sure if this is due to global issues or contract rollover with GiftNifty. Anyway, let's look at the Nifty direction. Nifty has fallen with some minor swings. If the market opens with a gap-down, then the 38% Fibonacci level might act as a strong support. If it finds support there, then we can expect a pullback of 23 to 38% max. It could be a minor retracement, and if it gets rejected there, then the correction will likely continue. On the other hand, if the pullback structure has a solid candle formation, it might break the 38% Fibonacci level(upside). If it breaks, then we can expect 50 to 61% for the next target. If we want to state this more clearly, it may turn into a range between the upcoming low and the 61% Fibonacci level. This sentiment is also applicable for a neutral to gap-up situation because, as I mentioned, I don't know exactly why GiftNifty is showing a negative sentiment. The alternative scenario is if the gap-down sustains and breaks the immediate support with some consolidation or immediately, then the correction will likely continue.
NSE:NIFTY
by Manickamtraders
BANKNIFTY Intraday Trade Setup For 30 May 2024BANKNIFTY Intraday Trade Setup For 30 May 2024 Bullish-Above 48700 Invalid-Below 48590 T- 49230 Bearish-Below 48350 Invalid-Above 48460 T- 47625 BANKNIFTY has closed on a bearish note with 1.3% cut today. Index opened with a big gap down of 355 points. 10 o'clock range was to be used as per setup, range broke downside below 48770, trade gave almost 1:4 gain till 48405 with slow momentum. Tomorrow if 48350 acts as a initial support then a bounce towards 48700 zone is possible. In case index breaks 48350-30 then a gradual fall towards 47625 is possible. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 48700 then we will long for the target of 49230. For selling we need a 15 Min candle close below 48350. T- 47625. 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:BANKNIFTY
by Omahto
NIFTY Intraday Trade Setup For 30 May 2024NIFTY Intraday Trade Setup For 30 May 2024 Bullish-Above 22810 Invalid-Below 22760 T- 23000 Bearish-Below 22680 Invalid-Above 22730 T- 22480 NIFTY has closed on a bearish note with 0.8% cut today. It was a low volatility day as overall range it traded was 22800 and 22700. It opened with a decent gap down of 125 points and in this case 10 o'clock range was to be used. Range broke downside below 22760 and gave 50 points move which was 1:1. Tomorrow if there is another gap down then I will watch for the 1st 5 Min candle's breakout either side. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 22810 then we will long for the target of 23000. For selling we need a 15 Min candle close below 22680. T- 22485. 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 & BankNifty 30 May 2024 | Monthly Expiry Special Analysis In this video, we'll discuss about Today's Market Movement and Tomorrow's Analysis in Nifty, Banknifty and other segments too. Whether you're a seasoned trader or just starting in the stock market, this analysis will help you in Learning about Market. Let's get right into it! ✅I hope you liked the analysis. Be sure to hit that LIKE. 👍Like | 💬Comment | 👥Share Disclaimer : All views and charts shared in this video are purely for knowledge and information purposes only. Trading is Very Risky Business and it should only be done with proper Knowledge. It is very important to do your own analysis before making any investment based on your own personal circumstances. #TheStockMantra #MarketAnalysis #LearnStockMarket
NSE:NIFTY
by TheStockMantra
29 May 2024 - 22781 broken and we just went bearishOver the last 2 sessions, we tried to explain why we would have to go directly to bearish from bullish. One of the reasons was that we fell below the level that had 2 double tops in April & May. Secondly, there were no additional support/resistance points in between for a neutral zone. What I am not sure about is, whether we can continue the downward momentum, especially because June 4th is less than a week away. If BJP wins back the 3rd time, the markets should outperform. If they get a lower number of seats - we may lose a lot of ground. Hope my direction is right just in time, over the last 5 to 6 months, my directional strategies were just eating the dirt and bleeding RED. I am also quite aware that a move of 1000+ points could level the mounted losses. For tomorrow we wish to start with a bearish tone and go long if 22781 is breached in the 63mts TF.
NSE:NIFTYShort
by viswaram
NIFTY prediction for tomorrow 30 May As we discussed, Nifty had a bearish structure; It has fallen by 187 points. If we look at the chart now: The market is trading in the bearish zone. The market is trading near the 0.38 fib level, which might provide a good support zone. But I am expecting the market to further go down till fib 0.50 (22481) levels. All the important levels have been marked on the chart. If we look at the OI data: PCR = 0.65 shows a market bearish structure. As tomorrow is NIFTY expiry, 22700 is going to provide a max-pain. There is more call writing on higher levels than PE writing on lower levels. The market is likely to end near 22500. Looking at the data, NIFTY might go bearish till 200 EMA. . Reasons: RSI < 40 falling from the upside shows a good bearish strength. EMA(13) > Price > EMA(200), which indicates an indecisive or rather sideways market. The market has formed a lower high lower low structure in 15-min TH that indicates the market is bearish. PCR = 0.65 indicates bearishness. Price < VWAP shows that a weak market structure can lead to a bearish market. Verdict: Bearish Plan of action : 22700 CE (Hedge it with 10/-) if the market continues bearish momentum. Note: you can target 200 EMA targets.
NSE:NIFTYShort
by finnova_
6
Nifty monthly expiry analysis for 30/05/24.Today nifty after a gap down opening has remained in a 100 points range closing 83 points lower. The daily candle is looking bearish and chance of testing 22580 levels are high, if it starts trading below today's low of 685. Nifty is trading between the moving averages and 20 ema is around the support zone. A bullish leg is there in the market and it is the retracement or profit booking before the election results. On fib levels it can test 38.2% levels. If the levels are breached soon, 580 levels will be tested . Major support levels :- 22680, 22620 Resistance :- 22800, 22880 Tomorrow is monthly expiry and upcoming week there is election results. Bullish reversal can be a possibility in case of a gap up opening. Flat to slightly gap down opening there will negative sentiment on intraday. Wait for the price action near the levels before entering the markets.
NSE:NIFTY
by Mambotrade
#Nifty directions and levels for May 29th.Good morning, friends! 🌺🍬 Here are the directions for May 29th: The global market continues to show a bearish sentiment based on the Dow Jones, while our local market also maintains a moderately bullish trend. Today, the market may open with a gap-down, as indicated by GiftNifty, which shows a decrease of 90 points. Today, both Nifty and Bank Nifty have similar structures. First, let's look at Nifty. Nifty has consolidated slightly, but the closing was negative. GiftNifty is also indicating a continuation of the correction. According to the wave structure, the correction over the past two trading days could be a "4th correctional wave," and today’s gap-down might be the final leg of the correction (subwave "C"). After the correction finds support at either 50% or 61%, we can expect a bounce back that could be the 5th wave. Since it's a distribution wave, the movement might have less volume. This is the basic structure. Now, let's look at the current variation. The current variation indicates that if the gap-down sustains and consolidates or breaks the 50% Fibonacci level, it could fall further, potentially reaching 61%. As discussed, if the market finds support at the 61% Fibonacci level after the correction, it may bounce back. For reversal confirmation, you can use EMA20 or a minor swing Fibonacci level 38% breakout. Note: Here is another variation based on the structure. If the correction has a solid formation, it will likely continue. We can also confirm this if the market forms inside bars or pinbar candles, indicating continued correction. Additionally, if the retracement after the correction doesn't break the 38% Fibonacci level, we can expect the correction to continue. Positions should be taken only if it breaks the previous low. The alternate variation suggests that if the market finds support around the immediate support or if the initial market takes a solid pullback, we can expect a range market to rally continuation.
NSE:NIFTY
by Manickamtraders
NIFTY Intraday Trade Setup For 29 May 2024NIFTY Intraday Trade Setup For 29 May 2024 Bullish-Above 23000 Invalid-Below 22950 T- 23230 Bearish-Below 22850 Invalid-Above 22900 T- 22630 NIFTY has closed on a bearish note with 0.19% cut today. Index traded inside yesterday's range and did not trigger any trade. In the weekend we discussed that after ATH breakout, chance of a small pullback or consolidation is high which seems to be in action. Now 23110 will be trigger for a strong bullish impulse. If short triggers below 22850 then we will be alert near 22745 as it can act as a CIP support. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 23000 then we will long for the target of 23200+. For selling we need a 15 Min candle close below 22850. T- 22630. 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