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#Nifty directions and levels for June28th.Good morning, friends! 🌺🍬 Here are the directions for June 28th: The global market is showing a slightly negative sentiment, based on the Dow Jones. Our local markets are showing bullish sentiment. 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 experienced huge volatility in the previous session. Structurally, it has formed an ending diagonal pattern. It's in the 5th wave, so today, if the initial market declines, we can expect a minimum of 78% to swing low correction. However, it must break the minimum 38% Fibonacci level for us to consider it a correction. On the other hand, if it doesn't break the 38% Fibonacci level, it may consolidate a little and break the previous high, extending the diagonal further. This is the basic structure. I used the line chart because the wave patterns are easier to see with it; that's all, nothing apart from that. The alternative scenario suggests that if the gap-up sustains and has a solid structure, the rally could continue further.
NSE:NIFTY
by Manickamtraders
NIFTY Intraday Trade Setup For 28 Jun 2024NIFTY Intraday Trade Setup For 28 Jun 2024 Bullish-Above 24100 Invalid-Below 24050 T- 24295 Bearish-Below 23900 Invalid-Above 23950 T- 23715 NIFTY has closed on a bold bullish note @ 24044 which is level to celebrate for bulls. Since it has closed above 24k chances of a gap up is very high, in that case 24200 can be resistance. Best intraday trade can be done on bullish side in case of pullback breakout of 24100 as happened today. If this is triggered then we will sit with trailing sl in 5 Min TF, 24295 and 24500 zone as final targets. Coming to Friday's trade setup, if index opens flat and a 15 min candle closes above 24100 then we will long for the target of 24295 and 24500. For selling we need a 15 Min candle close below 23900. T- 23715. 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
1
NIFTY prediction for today 27 JUNAs we discussed, NIFTY opened sideways, retraced to the downside, and then gave a good bullish momentum to the upside to the target and resistance trendline. If we look at the chart now: The market is trading at the resistance level, where it showed a nice sell-off in the last hour yesterday. The price is still above the EMA(13, 50, 200), which shows the market's bullish nature. But last hour's sell-off shows 24000 as a strong resistance near resistance. RSI is also having bearish resistance. Support levels: 23690, 23636, EMA(50), and Support trendline resistance levels: 23890 and resistance trendline. If we look at the OI data: PCR = 1.27, which has reduced from 1.33, indicates that bears are slowly increasing their position at 24000. Bulls have written PE at each lower level nicely. Also, CE writers have held quite good positions at higher levels. 24000 is going to provide a strong resistance to higher levels. I am expecting the market to make a double top structure and then fall from 24000. Reason: RSI = 70 shows bulls are strong, but RSI divergence might lead the market to some correction Price > EMA(13, 50, 200), which indicates the bullish market. PCR = 1.27, which has changed from 1.33, indicates bulls are continuously increasing their position in the market. price > VWAP shows a Bullish market structure. Verdict: Sideways or Bullish Plan of action: Note : after making a double top neckline break, you can go bearish. Sell 24000 CE (Hedge it with 10/- premium CE)
NSE:NIFTY
by finnova_
#Nifty directions and levels for the June 27th.Good morning, friends! 🌺🍬 Here are the directions for June 27th: There is no significant difference compared to the previous session. The global market is showing a slightly negative sentiment, based on the Dow Jones. Our local markets are showing bullish sentiment. However, today, the market may open with a neutral to slightly gap-down start, as indicated by GiftNifty, which shows a decrease of 55 points (as of 8:00 AM). Yesterday, Nifty continued the rally. Both structures have the same extension variation, so there are no changes in the market sentiment. Today, GiftNifty is indicating a slightly negative start. If it opens like this, let's look at what might happen in Nifty. >Structurally, it's a bullish market and both have an extension. According to the extension, if the market opens with a gap-down, it could retrace a maximum of 23 to 38%. After that, if it finds support there, the rally will continue with minor consolidation. >However, the probability of a rally today is less compared to yesterday, as the sub-waves driving yesterday’s rally are now over. If the market finds support at either 23% or 38%, then it may close within the range. >As per the wave structure, it could be in the 4th wave. Alternatively, if the correction becomes aggressive, we should wait for confirmation. If the market declines sharply, it may consolidate around 38% or 50%. After that consolidation, if it breaks the previous low, we can expect the correction to continue. Otherwise, it may maintain the bullish sentiment. (Note: If the market initially takes a pullback and breaks the previous high, then the rally may continue further.)
NSE:NIFTY
by Manickamtraders
NIFTY prediction for today 26 JUN As we discussed, NIFTY in the video market opened upside to the breakout and continued its momentum to the upside, breaking the resistance and further giving good bullish momentum. If we look at the chart now: The market has brake the resistance to the upside. Right now, the market is trading in the uptrending channel. I am expecting resistance from the resistance trendline. The price has yet to reach the level provided after the breakout. Now, there are two possible cases in the market. If it opens up, there can be a correction that can be seen in the market till EMA(13) or 23636. If the market opens near the support zone of 23636, then it can move further to the upside, continuing its momentum. Support levels: 23636, Support trendline, and 23432 resistance levels: 23828 and resistance trendline. If we look at the OI data: PCR = 1.33, which has increased from 1.07, indicates a very bullish market nature. 23500 is MaxPain. On the higher side, there is not as much CE writing as writing on the lower side. The only good CE writing at a higher level is 24000. The market is completely in the bull's favor right now. I am expecting the market: Case 1 : if the gap opens down, it will take support at 23636 and continue bullish momentum. Case 2 : if opens gap-up near the resistance trendline, it might correct itself by 23636 Reason: RSI > 60 shows bulls are strong Price > EMA(13, 50, 200), which indicates the bullish market. PCR = 1.33, which has changed from 1.09, indicates bulls are continuously increasing their position in the market. price > VWAP shows a Bullish market structure. Verdict: Sideways or Bullish Case 1 : if the gap opens down, it will take support at 23636 and continue bullish momentum. Case 2 : if opens gap-up near the resistance trendline, it might correct itself by 23636 Plan of action: Case 1 : Gap-down-> Sell 23500 PE (Hedge it with 10/- premium PE) Case 2 : Gap-up-> Sell 23800 CE (Hedge it with 10/- premium CE)
NSE:NIFTYLong
by finnova_
6
Nifty Futures Intraday Levels | 26-JUNE-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
NIFTY50 - Weekly Index Analysis - 15th June #indices #nifty50NIFTY50 Analysis Update (1W TF) - 15th June, 2024 - Trading outside the channel as of now - The Resistance & Support Zones are marked out - This should help choosing our Swing Trades as well If you are in FOMO: - Then ensure to choose stocks that are at Weekly support levels only - Do not jump into falling knives which are away from their support levels Note: The charts will be updated as we go along. But please ensure to keep your Risk Management in play constantly for any and all swing trades. * Disclaimer
NSE:NIFTYLong
by TradeRyteStockz