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Niftytrendanalysis

#Nifty Directions and Levels for May31st.Good morning, friends! 🌺🍬 Here are the directions for May 31st: 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 25 points. Nifty and Banknifty moved in different paths in the last session. What about today? I think it may continue a little bit. OK, let's look at the Nifty chart first. Even though Nifty fell, it had a solid pullback in the last half hour, so even if the market opens with a gap-down, it may try to bounce back initially because the structures suggest that. If this happens, we can expect a range market between the 38% upside resistance and the previous low. if it happens, the second half might enter a correction phase. but This is not necessary, is our first variation. The alternate scenario suggests that if the initial market takes a solid pullback and reaches the 38% Fib level, we can try a breakout entry that may reach the 50% Fib level. If this happens, it could retrace a little bit and continue consolidating further. However, if it breaks 50% after the consolidation, we can expect a rally continuation.
NSE:NIFTY
by Manickamtraders
#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
Short Term Trading Opportunity in Engineers India 20% UpsideHi, An bullish on-neck Breakout pattern emerged on the Daily chart of NSE:ENGINERSIN MACD on daily, weekly and monthly time frame is on the bullish side and also expecting the bullish setup to continue. In the current market scenario, I am expecting that the bullish momentum will continue. Complete price projection like entry, stop loss and targets mentioned on the charts for educational purpose. Don't Forget to Follow me to get all the updates. Please share your feedback or any queries on the study. Disclaimer: Please consult your financial advisor before making any investment decision.
NSE:ENGINERSINLong
by raigvivek
6
#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 Directions and levels for May 28th.Good morning, friends! 🌺🍬 Here are the directions for May 28th: The global market is maintaining a bearish sentiment based on the Dow Jones, while our local market suggests a moderately bullish trend. We might see a neutral to slightly gap-down start today, as indicated by GiftNifty, which shows a decrease of 15 points. In the previous session, Nifty had sharply rejected in the second half, closing at a neutral price. Today, GiftNifty is also indicating a neutral opening. If we take a bias based on the Dow Jones, HDFC Bank, and RIL, they are suggesting a neutral sentiment. So, my expectation is that if Nifty opens neutral or if the initial market takes a pullback, we can expect a range market within the previous day's range. If it breaks either upside or downside after that, then we can follow that trend. In my opinion, if it forms a range, it may continue the rally. Alternatively, if the market takes a correction initially, it could reach the Fibonacci level of 50%, which is a strong support. After that correction, if it finds support there, we can expect a minimum pullback of 38% to 50%. Note: However, if the correction occurs sharply and if it breaks or consolidates around the Fibonacci level of 50%, then the correction will likely continue.
NSE:NIFTY
by Manickamtraders
Today was the Dream day for Bulls on NIfty Expiry DayNifty index hit the New All TIme HIghs & reaching it near to imp level of 23000 After sustining above prev day's high, the index kept the strong positive momentum throughout the sesion The level of 22800/700 may act as an immediate support level whereas nearest hurdle is placed around 23050 zone A L ong bullish candle is formed on Daily TF Market may show volatility during the last phase of elections However in case of strong Bearish Pattern at higher levels, the index may come back to prev Range Keep Tracking Charts *For Educational Purpose Learn & Practice Price Action setups
NSE:NIFTYLong
by Himanu_HATradeTalk1
#Nifty directions and levels for May 22nd.Good morning, friends! 🌺🍬 Here are the directions for May 22nd: The global market is still maintaining 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 +30 points. Nifty closed neutral with minor rejection around the 78% Fibonacci level, while GiftNifty indicates a slightly positive start. Given this sentiment, the market may consolidate between the 78% Fibonacci level and yesterday's closing price. If the market breaks the 78% resistance, we can expect the rally to continue. Moreover, if the 78% resistance is breached without any consolidation, it further confirms a rally. Alternatively, if the gap-up doesn't sustain or if the market opens with a gap-down, we can expect a minor correction of 38%. Key points to consider: >If the market reaches the 38% level aggressively, it may fall further with little consolidation. >On the other hand, if it takes time to reach the 38% level, then the 38% level will act as strong support, and we can expect a bounce back.
NSE:NIFTY
by Manickamtraders
Medium Term Swing Trading Idea in MSTC for huge UpsideHi, NSE:MSTCLTD has given a Bullish Flag Breakout on Daily charts with very good volume. MACD is also on the bullish side on Daily and Monthly time frames. RSI is also on the bullish side on daily, weekly and monthly time frames. In the current market scenario, I am expecting that the bullish momentum will continue. Complete price projection like entry, stop loss and targets mentioned on the charts for educational purpose. Don't Forget to Follow me to get all the updates. Please share your feedback or any queries on the study. Disclaimer: Please consult your financial advisor before making any investment decision.
NSE:MSTCLTDLong
by raigvivek
#Nifty directions and levels for May 21st.Good morning, friends! 🌺🍬 Here are the directions for May 21st: The global market is indicating a bullish sentiment based on the Dow Jones, while our local market sentiment also suggests a bullish trend. It might open with a gap-up start, as suggested by GiftNifty, showing an increase of +60 points. Nifty has a minor consolidation structure after the sharp rally. GiftNifty indicates a positive start, and the structure also suggests the continuation of the rally. However, there is major resistance at the 78% Fibonacci level. so, If the market breaks or consolidates around this level, we can expect the rally to continue further, potentially reaching 22,636 to 22,684. and The 22,684 level is a supply zone, so if the rally is rejected there, we can expect a correction of 23% to 38% in the minor swing. Alternatively, if the market is rejected around the 78% Fibonacci level or if the gap-up doesn’t sustain, it may retrace 38% in the minor swing. Here we have two scenarios: 1 - There has been a solid rally, so according to the structure, it could undergo a retracement of 23% to 38%. After that, if it finds support at either 23% or 38%, the rally is likely to continue. 2 - According to the wave structure, a 5-3 structure is forming, indicating a zigzag variation. If the market breaks the 38% Fibonacci level, it may enter a correction phase. If this happens, you can set your target at 50% and 78%.
NSE:NIFTY
by Manickamtraders
#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