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Niftytrendanalysis

#Nifty directions and levels for May 17th.Good morning, friends! 🌺🍬 Here are the directions for May 17th: There have been no changes in the global and local markets. The global market is indicating a bullish sentiment based on the Dow Jones, while our local market sentiment suggests a moderately bullish trend. It might open with a neutral to slightly gap-up start, as suggested by GiftNifty, showing an increase of +20 points. Nifty has moved through four larger swings, which structurally indicates a range market. However, it closed above the range. giftnifty indicating gap-up start, so If the market sustains the gap-up sentiment, we can expect a rally continuation with minor consolidation. This is our first scenario. This means that if the market opens above the supply zone or breaks it with a solid green candle, then the rally is likely to continue. Alternatively, if the market faces rejection around the immediate resistance zone, it may retrace by a minimum of 23 to 38%. This is a trend continuation retracement level. If the market finds support after the retracement around 23 or 38%, we can expect the range market to continue its rally. On the other hand, if the correction breaks the retracement level of 38%, then the market will enter a correction phase, and we can expect the next target to be a minimum of 61 to 78%. This looks similar to the previous day's sentiment.
NSE:NIFTY
by Manickamtraders
#Nifty directions and levels for May 16th.Good morning, friends! 🌺🍬 Here are the directions for May 16th: The global market is indicating a bullish sentiment based on the Dow Jones, while our local market sentiment suggests a moderately bullish trend. It might open with a gap-up start, as suggested by GiftNifty, showing an increase of +120 points. Nifty minorly retraced after the gap-up start in the previous trading session. Structurally, we have two options. The first one is the GiftNifty indication of a gap-up start, so if the gap-up sustains and breaks the level of 22337, we can expect further rally continuation. In this scenario, if it forms a solid green candle structure, then we can expect a sharp rally followed by a range breakout. Otherwise, it may go into a diagonal pattern structure (consolidation pattern). Alternatively, if the market rejects around the immediate resistance level, initially we can expect a 23 to 38% minor retracement. If it finds support there, it may undergo some consolidation for rally continuation. This means if it doesn’t break the minor Fibonacci level of 38%, then the market will maintain the bullish bias. on the other hand if it breaks the minor Fibonacci level of 38%. then we can expect a minimum correction of 78% to the next level of 1.27%. Structurally, it could be in a flat variation. After that correction, if the market finds support at the 1.27 extension level, then it may turn into a bullish bias.
NSE:NIFTY
by Manickamtraders
1
Nifty for 16/05/2024Nifty is in uptrend channel from last few sessions, now Nifty is taking support of the channel and forming symmetrical triangle pattern too, Nifty was moving in range of 22233-22164 in last session, if tommorow Nifty breaks this range either upside or downside, then we can expect big move. Here are some levels for your information. I am not SEBI registered analyst, this is my personal view only for educational purpose, I am not responsible for any profit or loss.
NSE:NIFTY
by bornforseain1984
Nifty 50 Negative Divergences in Monthly Charts₹₹Nifty 50 making negative divergences in monthly charts. Below 21700 levels nifty will give breakdown after this Trend line from 2020 will act as support but if breakdown of this trend line then big down movement will be seen. But before this Election Results will be in focus if results come same as market accepting then one bounce from these levels & then we can see profit booking & then movement will be according to charts. If election results are not same as market accepting then big negative for markets. Let's hope for best & Trade with proper risk management. Thank you
NSE:NIFTYShort
by K_Dyadav
#Nifty directions and levels for May 15th.Good morning, friends! 🌺🍬 Here are the directions for May 15th: There have been no changes in the global and our local markets. The global market still maintains a moderately bullish sentiment (based on the Dow Jones), while our local market sentiment also indicates a moderately bullish trend. It might open with a neutral to slightly gap-up start, as suggested by GiftNifty, showing an increase of +50. Nifty continued its rally in the previous session and broke a Fibonacci level of 38%. Even if it breaks this 38% level, the structure has a diagonal formation indicating a distribution pattern. Therefore, if the gap-up doesn’t sustain and there is a sharp decline, the market may retrace a minimum of 38% to 61%. after that If it consolidates around the support level of 61%, the correction will continue if it breaks the previous low. On the other hand, if it finds support around the 61% Fibonacci level, we can expect a bounce back that may reach the day’s opening price level. An alternate scenario suggests that if the gap-up sustains and breaks the 50% Fibonacci level, it may continue the pullback in a diagonal structure. However, if the opening market has a solid structure, we can expect a sharp rally.
NSE:NIFTY
by Manickamtraders
13 May 2024– 310pts intraday bounce, stance changed to neutralNifty Analysis - Stance Neutral ➡️ Recap from yesterday: "On the 63mts TF, the bearishness continues. The next target of 21913 is still in our watchlist and if we fall below that - the real action begins." The day took me by surprise, not with the inline opening and a 248pts ~ 1.12% downward fall, but the reversal of 310pts ~ 1.42%. The downside was in the cards, if you had read the previous day's post mortem report - you would have subscribed to those views. And once again we broke the 21913 support, but gave it away real quick. The recovery was more than fast and furious, it even took out the 22051 resistance level. This nudged me to change the stance from bearish to neutral just for tomorrow. On the higher time frame, I still cannot believe the reversal came from a technical perspective. Most likely the source seems like a news/event, did not find time to scan it as was busy with my Bday plans. The Algos shows a profit of 10327 INR, but the actual results were negative, I guess it had to do with some wild swings that we had in between & due to slippage in bid/ask spread.
NSE:NIFTY
by viswaram
#Nifty direction and levels for May 13th.Good morning, friends! 🌺🍬 Here are the directions for May 13th: The global market still maintains a moderately bullish sentiment (based on the Dow Jones), while our local market sentiment indicates a bearish trend. It might open with a neutral to slightly gap-down start, as suggested by GiftNifty, showing a decrease of -20. >Nifty had consolidated after the sharp correction. GiftNifty indicates a slightly gap-down start, so it may open negatively. After that, if it takes a pullback initially, it might reach 50 to 61% in the upside fib levels. Because, as per the wave structure, a pullback has a three-wave structure, but there are only two waves formed. So, we can expect an initial pullback. However, if it finishes the three-wave structure, the major trend (correction) will continue. That means, after that pullback, if it rejects around the 50 or 61% fib level, then it may turn into a correction phase. Note- Alternatively, if it breaks or sustains around the fib level 61%, then the pullback will continue further. Alternate variation - if the gap-down sustains, we can expect correction continuation that will reach a minimum of the demand zone to the swing low (21777). Structurally, it could be in sub-wave 5th, so the correction may take less volume.
NSE:NIFTY
by Manickamtraders
Nifty Intraday Prediction Levels for 10 May 2024The chart indicates 15 min time frame. These Levels act as Support and Resistance according to position of price. These are strictly for Intraday Trading only. Execution only after break out and close above the Resistance zone or break down and close below the Support zone. These levels act as support and resistance. You have to trade according to level breakout or breakdown. To buy or sell you can follow Buy/Sell Indication given by indicator or you can follow cloud also. If you are a new trader then just watch (No Trade) these levels for some days. Happy trading. Disclaimer: I am not a SEBI Registered Analyst. Anything posted here is my own analysis and views. This is created for educational purposes only. Always consult with your Financial Advisor before taking any decision or trade.
NSE:NIFTY
by suraranjanganguli
#Nifty directions and levels for May 9th.Good morning, friends🌺🍬! Here are the directions for May 9th: Still, the global market maintains a moderately bullish sentiment, while our local market sentiment indicates a moderately bearish trend. It might open with a neutral to slightly gap-down start, as suggested by GiftNifty, showing a decrease of -15. Nifty had a solid pullback after the minor correction in the previous session, but it didn't sustain. This structure suggests that even if the market opens with a gap down, if it takes a pullback initially, then we can expect a 50 to 61% Fibonacci level pullback with minor consolidation. This is also applicable in a gap-up situation. Alternatively, if the gap-down breaks the previous bottom, then the correction will likely continue with minor consolidation. Note: one more thing, there is a 38% Fibonacci level support. Structurally, the market may consolidate over there, but it won't sustain. But, if the first stock experiences a sharp rejection, it may turn into a bullish sentiment.
NSE:NIFTY
by Manickamtraders
4
Nifty Intraday Prediction Levels for 8 May 2024The chart indicates 15 min time frame. These Levels act as Support and Resistance according to position of price. These are strictly for Intraday Trading only. Execution only after break out and close above the Resistance zone or break down and close below the Support zone. These levels act as support and resistance. You have to trade according to level breakout or breakdown. To buy or sell you can follow Buy/Sell Indication given by indicator or you can follow cloud also. If you are a new trader then just watch (No Trade) these levels for some days. Happy trading. Disclaimer: I am not a SEBI Registered Analyst. Anything posted here is my own analysis and views. This is created for educational purposes only. Always consult with your Financial Advisor before taking any decision or trade.
NSE:NIFTY
by suraranjanganguli