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Niftytrend

NIFTY prediction for today 11 July 24As we discussed, NIFTY took resistance at the provided dotted resistance trendline and gave a good fall. If we look at the chart now: The market gave good bearish momentum yesterday with heavy volatility. I also took support at the price action level of 24188 and came back. That shows bulls are active near 24000. Support levels: 24188, 200-EMA (15-min) Resistance levels: 24312, Resistance trendline. If we look at the OI data: PCR = 0.74 shows the market has a NEUTRAL sentiment. 24400, 24500, and 24600 have significantly higher CE writing than the lover levels PE writing. The market has big support at 24000. I am expecting the market to be volatile, sideways, bullish. Reason: RSI = 40-60; shows the market is going to be sideways. Price > EMA(13, 50, 200), which indicates the bullish market. PCR = 0.74 indicates market bullish sentiments. price > VWAP shows a Bullish market structure. Verdict: Sideways or Bullish Plan of action: wait for 15 min candle. wait for the market to make a direction and make the position accordingly.
NSE:NIFTY
by finnova_
2
#Nifty directions and levels for July 11th.Good morning, friends! 🌺🍬 Here are the directions for July 11th: There are no significant changes in the global markets, which are still showing a moderately bullish trend. However, our local market is showing a moderately bearish trend. Today, the market may open with a neutral to slightly gap-up start, as indicated by GiftNifty, which shows an increase of 40 points (as of 8:00 AM). Nifty and BankNifty structures differ from one another. Let's look at them one by one. Nifty had a huge swing in the previous session. However, the structure is obviously a range market. Today, GiftNifty indicates a slightly positive start. If it rejects around the immediate resistance, then we can expect a correction, meaning the range market will likely continue. For this correction to happen, it should break the 38% fib level in the current swing. If it doesn't break the 38% fib level, it may go a little bit further up. This sentiment also applies to the initial market decline.that means If the gap-up doesn't sustain or the initial market takes a decline, then use the same sentiment. The alternate variation suggests that if the gap-up sustains and consolidates around the 78% fib level or breaks the 78% fib level with a solid candle, then the rally will likely continue.
NSE:NIFTY
by Manickamtraders
8
Nifty Intraday Support & Resistance Levels for 11.07.2024On Wednesday, Nifty made a new all-time high of 24,461.05 before falling 300 points to an intraday low of 24,141. It found support at the 75m Demand Zone mentioned in the last post and bounced back nearly 200 points, closing at 24,324. The weekly and daily trends (50 SMA) remain positive. Support Levels: Near Support/Demand Zone (5m): 24,246 - 24,265 Major Support/Demand Zone (75m) for weekly trade: 24,056 - 24,150 (tested yesterday) Resistance Levels: Small Supply/Resistance Zone (15m): 24,398 - 24,419
NSE:NIFTY
by PriteshPalan
Nandan Denims - Looking Strong in Long TermTrendline and VCP Pattern: - The chart shows an upward trendline indicating a long-term bullish trend. - There's a visible "VCP" (Volatility Contraction Pattern) forming. This pattern typically suggests a consolidation phase where price volatility decreases before a potential breakout. Support and Resistance - The price is currently around ₹45.35. - Key support level is around the trendline, roughly at ₹25. - Key resistance levels are around ₹60 and ₹80. ### Volume - The volume is highlighted, showing an increase during significant price movements, which typically confirms the strength of the trend. - Recent volume bars indicate moderate trading activity. ### Summary - **Bullish Indicators**: Upward trendline, potential VCP breakout, and increasing volume during uptrends. - **Bearish Indicators**: RSI nearing overbought levels, potential failure to break key resistance.
NSE:NDLLong
by brijmohan_h
#Nifty directions and levels for July 10th.Good morning, friends! 🌺🍬 Here are the directions for July 10th: There are no significant changes in the global and local markets, both of which are showing a moderately bullish trend. However, today the market may open with a neutral to slightly gap-down start, as indicated by GiftNifty, which shows a decrease of 10 points (as of 8:00 AM). Nifty has broken its all-time high once again in the previous session. Structurally, if the market breaks the previous high, then the rally will likely continue. However, breakout structures are important. In the last session, the market moved in a grinding manner, so if the market continues with that same grinding momentum, we can't expect much of a rally. If the market rejects at either 24464 or 24495, it may fall by a minimum of 38 to 61%. On the other hand, if it breaks the previous high with a solid candle structure or consolidates around the immediate resistance level, we can expect a solid rally further. This is our first variation. The alternate variation suggests that if the initial market declines, we can expect a 38 to 61% minor retracement. After that, if it finds support there, we can expect a range market. If it breaks the 61% Fibonacci level, then the correction may continue further.
NSE:NIFTY
by Manickamtraders
3
NIFTY prediction for today 10 July 24As we discussed, NIFTY opened sideways and ended up sideways bullish. If we look at the chart now: The market is trading in an uptrending channel. The market is experiencing minor resistance in the middle of the channel. As the market is trading at an all-time high, if it breaks the middle resistance to the upside, it can give a bullish momentum. There are no horizontal levels as per price action. Please monitor the trendlines drawn on the chart. Support levels: 24350-24400 range-support-zone, support trendline Resistance levels: dotted resistaance trendline, main resistance trendline. If we look at the OI data: PCR = 1.13 shows the market has a bullish sentiment. 24400 will be max pain. On the lower side, have good PE writing at 24300, 24200, and 24000, which will be a nice support point. On the upside, we have good CE writing, but CE writing is significantly lower than CE writing. I am expecting the market to be sideways bullish until it breaks the channel on either side. Reason: RSI = 57 shows a mild bullish signal, but as the market is showing bearish divergence, it might correct itself soon. Price > EMA(13, 50, 200), which indicates the bullish market. PCR = 1.13 indicates market bullish sentiments. price > VWAP shows a Bullish market structure. Verdict: Sideways or Bullish Plan of action: wait for 15 min candle. wait for the market to make a direction and make the position accordingly, Note: Don't go for option buying unless the market gives the breakout on either side of the channel.
NSE:NIFTY
by finnova_
2
Nifty Intraday Support & Resistance Levels for 10.07.2024On Tuesday, Nifty broke through the small resistance zone and made a new all-time high of 24,443.60, closing above 24,400 for the first time. The weekly trend (50 SMA) is now overbought, and the daily trend (50 SMA) remains positive. Support Levels: Near Support/Demand Zone (5m): 24,382 - 24,400 Far Support/Demand Zone (5m): 24,204.20 - 24,222.65 Support/Demand Zone (75m) for Weekly Trade: 24,056 - 24,150 As of now, there is no resistance zone seen on the chart.
NSE:NIFTY
by PriteshPalan
NIFTY Intraday Trade Setup For 10 Jul 2024NIFTY Intraday Trade Setup For 10 Jul 2024 Bullish-Above 24450 Invalid- Below 24400 T- 24555 Bearish-Below 24350 Invalid-Above 24400 T- 24230 NIFTY has closed on a bullish note with 0.46% gain today. Last day we discussed that it formed a Pinbar candle in daily TF and expectation was for a bullish move above 24350. We almost gat 90 points move in favor. Tomorrow in case there is a gap down and day ends near day low then bears will take charge in short term. However I have been updating that bullish sentiment will change when it closes below PDL. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 24450 then we will long for the target of 24555. For selling we need a 15 Min candle close below 24350. T- 24230. 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 Short Swing Trade 1:3.5 Risk-Reward RatioIchimoku TS KS broke in 15 mins and once it breaks the cloud and price structure, we will get the confirmation. We have shared our higher time frame view earlier today - please check: Entry : 24280 (in case of gap down opening below this level, wait for a small pullback near TS in 5 mins) Stop Loss : 24417 Target : 23770 Disclaimer: We are not SEBI registered. The content presented here is based on our personal opinions. Please conduct your own research and consult with a qualified financial advisor before making any investment decisions.
NSE:NIFTYShort
by WaveMoku
6
No to 30% Tax on F&O Trading!Recently, there have been reports that the government is considering imposing a 30% tax on trading in Futures and Options (F&O). This move will be devastating for many retail traders who earn a living from trading. F&O trading is not gambling! Traders invest time, effort, and money to make informed decisions based on market trends and analysis. It's not a game of chance like lottery or cryptocurrency. F&O trading requires skill, strategy, and dedication. Taxing F&O will crush small traders If this tax is implemented, it will be a significant burden on small traders who are already struggling to make ends meet. This will lead to: Reduced participation in the market Increased risk-taking (traders may take unnecessary risks to recover losses) Flight of talent (traders may leave India for countries with more favorable tax regimes) Don't punish responsible trading We urge the government to reconsider this proposal and instead focus on creating a more favorable environment for responsible trading. This includes: Simplifying tax regulations Providing education and awareness programs Encouraging innovation and growth in the trading ecosystem Join us in opposing this proposal! Let's protect the interests of responsible traders and ensure that India remains a hub for trading and financial growth. #SaveTradingInIndia #NoTo30PercentTaxOnFandO #ResponsibleTrading
NSE:NIFTY
by ard-komercisto
NIFTY Prediction for tomorrow 8 Jul 24NIFTY did open gap-down, and then after taking support at support, it gave a nice bullish momentum to the upside. If we look at the chart now: The market is trading in an uptrending channel. It has taken support multiple times and also has taken resistance multiple times. I expect it to break soon. If the market shows bullish momentum to the upside, it will be taking resistance at the resistance trendline, which might then initiate a bearish momentum after that. Support levels: 24182, 23952, and 200-EMA Resistance levels: Red Zone, Resistance trendline. If we look at the OI data: PCR = 1.01 shows the market has a bullish sentiment. 24300 will be max pain. On the lower side, 24200 and 24000 have good PE writing, which will be a nice support point. However, 24400 and 24500 have good CE writing, which is going to provide good resistance. I am expecting the market to give a breakout soon out of this channel. Reason: RSI > 50 shows a mild bullish signal. Price > EMA(13, 50, 200), which indicates the bullish market. PCR = 1.01 indicates market bullish sentiments. price > VWAP shows a Bullish market structure. Verdict: Sideways or Bullish Plan of action: Wait for 15 min candle. wait for the market to make a direction and make the position accordingly, Note: Don't go for option buying unless the market gives the breakout.
NSE:NIFTY
by finnova_
2
Nifty Intraday Support & Resistance Levels for 09.07.2024On Monday, Nifty took support at the 15m demand zone (24,204 - 24,244) mentioned in the last post and bounced back to a day high of 24,344.60. The weekly and daily trends (50 SMA) remain positive. Support Levels: Near Support/Demand Zone (5m): 24,204.20 - 24,222.65 Far Support/Demand Zone (30m) in the Gap Level: 24,110 - 24,148 Support/Demand Zone (75m) for Weekly Trade: 24,056 - 24,150 Major Support/Demand Zone (Daily): 23,350 - 23,667 In the coming days, the 24,000 - 24,200 range will be the major support in the short term. Resistance Levels: Near Small Supply/Resistance Zone (30m): 24,372 - 24,401
NSE:NIFTY
by PriteshPalan
#Nifty directions and levels for July 9th.Good morning, friends! 🌺🍬 Here are the directions for July 9th: There are no significant changes in the global and local markets, both of which are showing a moderately bullish trend. However, today the market may open with a neutral to slightly gap-up start, as indicated by GiftNifty, which shows an increase of 10 points (as of 8:00 AM). Nifty and Banknifty both have a range-bound structure, so today may continue in this manner. Let's check them one by one. For Nifty, there were no big changes in the previous session, and it is still within the range. Today, GiftNifty is showing a neutral start, so if the market declines initially, we can expect it to reach a minimum of 24243 to 24210, both minor support levels. If the market finds support there, we can expect the range to continue. On the other hand, if it breaks below these levels, it may fall further to 24168, which is a 78% retracement. This is our first variation. Alternatively, if the market initially pulls back, we can expect it to reach 24401, 24431, and 24464 with minor consolidation.
NSE:NIFTY
by Manickamtraders
NIFTY Intraday Trade Setup For 9 Jul 2024NIFTY Intraday Trade Setup For 9 Jul 2024 Bullish-Above 24350 Invalid-Below 24300 T- 24550 Bearish-Below 24230 Invalid-Above 24280 T- 24030 NIFTY has closed on a flat note today, complete rangebound session within 100 points range. It has formed a Pinbar candle in daily TF. Above today's high there can be a good upside move towards 24550 as per 1.618 extension plotted. Since the daily candle is a price rejection candle and represents bullishness, below its low 24230 there can panic selling move towards 24k zone. Sentiment is bullish till it closes above PDL. 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 24550. For selling we need a 15 Min candle close below 24230. T- 24030. 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