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Niftytrendanalysis

Short term trading opportunity in Rane(Madras) for > 25% upsideHi, NSE:RML has given a Bullish Flag Breakout on Weekly charts with very good volume. MACD is also on the bullish side on Weekly 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:RMLLong
by raigvivek
Short term trading opportunity in Hariom Pipe for > 15% upsideHi, NSE:HARIOMPIPE has given a Bullish Flag Breakout on Daily charts with very good volume. MACD is also on the bullish side on Weekly 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:HARIOMPIPELong
by raigvivek
#Nifty directions and levels for September 5th.Good morning, friends! 🌞 Here are the directions and levels for September 5th. Market Overview The global markets are maintaining bearish pressure, as indicated by the Dow Jones. Our local market has been showing a moderately bullish sentiment. However, based on a 90-point positive signal from GiftNifty, we may see the market open with a gap-up today. Both Nifty and BankNifty have been range-bound. What about today? It’s likely that the range will continue, but let’s take a look at the charts. Nifty Current View If the market opens with a gap-up, the 78% level will act as crucial resistance. If it consolidates or breaks this level, we can expect the next targets to be a minimum of 25,333 to 25,366. This is our first scenario. Alternate Scenario On the other hand, if the market rejects the 78% level or takes a sharp decline initially, the range-bound market is likely to continue. The expected targets would be a minimum of 38% to 61% of the minor swing.
NSE:NIFTY
by Manickamtraders
#Nifty directions and level for September 3rd.Good morning, friends! 🌞 Here are the directions and levels for September 3rd. Market Overview The global and local markets are still maintaining their consolidation phase with a bullish outlook, supported by the Dow Jones. Today, the market may open with a neutral to slightly gap-down start, as the SGX Nifty indicates a negative 10-point move as of 8:00 AM. There have been no significant changes, and both Nifty and Bank Nifty are maintaining their consolidation structure. What about today? Simply put, it might continue in the same way. However, we need to observe how it continues this structure and whether it takes the next move. Nifty Current View: The basic structure suggests that if the market opens with a gap-up or if it finds support around the 38% Fibonacci level on the downside, the range-bound market is likely to continue. After that, if it breaks the range to the upside, the next target could be the minor supply zone. Alternate View: The alternate view suggests that if the correction takes a sharp decline and consolidates or breaks the 50% Fibonacci level, it could fall further to the level of 25119 or the 78% Fibonacci level. > In this case, if it doesn’t break the 50% Fibonacci level, the range-bound market will likely continue as usual. Pattern Structure: For pattern traders, there is a forming bearish Head and Shoulders pattern. If you have confidence in this pattern, you can use it as well.
NSE:NIFTY
by Manickamtraders
#Nifty directions and levels for August 28th.Good morning, friends! 🌞 Here are the directions and levels for August 28th. Market Overview The global market is showing a bullish sentiment, as reflected by the Dow Jones. Meanwhile, our local market is displaying a moderately bullish sentiment. However, today's market may open with a neutral to slightly gap-down start, as the SGX Nifty indicates a negative 10-point move as of 8:00 AM. Currently, both Nifty and Banknifty are moving in a diagonal pattern, which is a time adjustment pattern. This means the market may not rise significantly even if it breaks the previous high. However, it's important to note that if the market breaks this pattern on the downside, a minor correction could occur. Therefore, we should watch the market carefully. Now, let's look at the charts. Current View If the market finds support around the immediate support level or opens with a gap-up, the diagonal pattern is likely to continue. > Specifically, Nifty may move within the previous day's range. If it then breaks the all-time high, it could reach a minimum of 25,112 to 25,155. Alternate Scenario The alternate scenario suggests that if the market breaks the 38% Fibonacci level effectively, we can expect the next correctional targets to be between 50% and 61% on the downside.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for August 28th. Currently, Banknifty are moving in a diagonal pattern, which is a time adjustment pattern. This means the market may not rise significantly even if it breaks the previous high. However, it's important to note that if the market breaks this pattern on the downside, a minor correction could occur. Therefore, we should watch the market carefully. Now, let's look at the charts. Current View If the market finds support around the immediate support level or opens with a gap-up, the diagonal pattern is likely to continue. > Specifically, if the market finds support around the immediate support level or opens with a gap-up, it may consolidate between the downside level of 38% and the upside level of 51,460. > In this scenario, if Banknifty experiences a solid pullback and breaks the 51,460 level effectively, it may consolidate around 51,563 for further continuation. This means the rally is likely to continue. This is our first scenario. Alternate Scenario The alternate scenario suggests that if the market breaks the 38% Fibonacci level effectively, we can expect the next correctional targets to be between 50% and 61% on the downside.
NSE:BANKNIFTY
by Manickamtraders
Nifty Intraday Support & Resistance Levels for 28.08.2024On Tuesday, Nifty reached a high of 25073.10, just 5 points shy of its all-time high of 25078.30, before closing at 25017.75. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways. The demand and support zones remain unchanged from the previous post. Support Levels: Near Demand/Support Zone (Daily): 24771 - 24859 Near Demand/Support Zone (125m) for Weekly Trade: 24543 - 24605 Far Demand/Support Zone (75m) for Weekly Trade: 24204 - 24340 No supply zone is currently visible on the chart.
NSE:NIFTY
by PriteshPalan
#Nifty directions and levels for the August 27th.Good morning, friends! 🌞 Here are the directions and levels for August 27th. Market Overview The global market has a bullish sentiment based on the Dow Jones. Meanwhile, our local market also exhibits bullish sentiment. However, today, the market may open with a gap-down start, as the SGX Nifty indicates a negative 40-point move as of 8:00 AM. In the previous session, the Nifty experienced a range breakout, which is structurally a positive sign. But today, the giftnifty indicates a negative start. So, what’s next? > the Nifty has minor consolidation structure followed by a breakout. Structurally, it should not take much of a correction. > Therefore, if the market opens negatively and finds support around the immediate support level, it may continue to consolidate within the previous day’s range. This is our first variation in this case. After that consolidation, if the market breaks the previous day's high, then the rally will likely continue. > An alternate variation suggests that if the gap-down sustains and breaks the 38% Fibonacci level solidly or with some consolidation, the market could potentially move further down to the 61% to 78%.
NSE:NIFTY
by Manickamtraders
#Nifty directions and levels for August 26th.Good morning, friends! 🌞 Here are the directions and levels for August 26th. Market Overview The global market has a bullish sentiment (based on the Dow Jones). Meanwhile, our local market is also maintaining a moderately bullish sentiment. Today, the market may open with a gap-up start, as the SGX Nifty indicates a positive 60-point move as of 8:00 AM. Both the Nifty and Bank Nifty showed consolidation in the previous session, so we are going to maintain what we observed previously. Let's look at this simply. Nifty > In the previous session, Nifty closed with a consolidation structure. Whenever the market consolidates, there is a high probability that it will follow the prevailing direction. > So, If the gap-up sustains and breaks the consolidation, it could reach a minimum of 24,890, which represents a resistance level. If the market sustains or breaks this level as well, then the rally will likely continue to 24,943. > In this scenario, if the breakout has a solid rally, it won't respect the supply zone (24,943); it will likely only take some consolidation. On the other hand, if the market reaches there gradually, it will act as strong resistance. > Alternatively, if the gap-up doesn't sustain or if the market declines initially, the 38% Fibonacci level will act as support. In this case, after the decline, if it finds support at the 38% level, the bullish bias is likely to continue. However, if it breaks the 38% level, it may fall further to the 50% level or swing low on the downside.
NSE:NIFTY
by Manickamtraders
Nifty Intraday Support & Resistance Levels for 26.08.2024On Friday, Nifty opened with a gap up and remained within a narrow 100-point range throughout the day, closing at 24823.15 with a modest gain of 11 points. Despite breaking above the 75m supply zone, Nifty has closed inside this zone for the third consecutive day. The weekly trend (50 SMA) is positive, while the daily trend (50 SMA) remains sideways. The demand and supply zones remain unchanged from the last post. Support Levels: Near Demand/Support Zone (125m): 24543 - 24605 Far Demand/Support Zone (75m) for Weekly Trade: 24204 - 24340 Resistance Levels: Near Supply/Resistance Zone (75m): 24754 - 24835 (current price is inside the zone) Far Supply/Resistance Zone (125m): 24956 - 25031
NSE:NIFTY
by PriteshPalan
Nifty SpotDuring the week from August 19 to August 23, 2024, the Nifty 50 index displayed a steady recovery after a prior downtrend earlier in the month. The index began the week with a bullish momentum and closed on August 23 at 24,823.00 Key drivers behind this recovery included a robust performance from mid-cap and small-cap stocks, as well as contributions from sectors like banking and auto. Despite some cautious sentiments due to global uncertainties and anticipation surrounding Jerome Powell’s Jackson Hole speech, the overall trend remained positive. Key Levels marked. 25100 odd levels likely a hurdle..
NSE:NIFTY
by emraldconsul
#Nifty directions and level for August 22nd.Good morning, friends! 🌞 Here are the directions and levels for August 22nd. Market Overview The global market is still maintaining a bullish bias. Meanwhile, our local market shows a moderately bullish sentiment. So, today the market may open with a neutral to slightly gap-up start, as the SGX Nifty indicates a positive 45-point move as of 8:00 AM. Nifty and Bank Nifty both have different structures, and their movements are also different. However, structurally, I expect a minor correction. Let’s take a closer look at the charts. Nifty In the previous session, Nifty had a minor pullback, but by the end of the day, it closed positively. Today, it may open with a gap-up due to the GiftNifty indication. after that, If the gap-up doesn't sustain or if it rejects around the 78% Fibonacci level, we can expect a minor swing correction of 23% to 38%. This is our first scenario. In this case, after the rejection, if it finds support at the 38% level, the bullish bias is likely to continue. However, if it breaks the 38% level, it may fall further to the 50% to 61% level on the downside. Alternatively, if the gap-up sustains and breaks the 78% Fibonacci level, the rally will likely continue. The important factor is the breakout structure; if it breaks with solid momentum, we can expect the next target at 24943. However, if it breaks with a grinding move, it won't reach that high.
NSE:NIFTY
by Manickamtraders
Nifty Intraday Support & Resistance Levels for 22.08.2024On Wednesday, Nifty surpassed the previous day’s high, reaching 24787.95 before closing at 24770.20, which is within the 75m Supply Zone mentioned in the last post. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways. Support Levels: Near Demand/Support Zone (125m): 24543 - 24605 Far Demand/Support Zone (30m): 24389 - 24443 Far Demand/Support Zone (75m) for Weekly Trade: 24204 - 24340 Resistance Levels: Near Supply/Resistance Zone (75m): 24754 - 24835 (current price is within this zone) Far Supply/Resistance Zone (125m): 24956 - 25031
NSE:NIFTY
by PriteshPalan
#Nifty directions and levels for August 21st.Good morning, friends! 🌞 Here are the directions and levels for August 21st. Market Overview In the previous session, the global market moved in a consolidation phase, but structurally, it is still maintaining a bullish bias. Meanwhile, our local market shows a moderately bullish sentiment. So, today the market may open with a neutral to slightly gap-down start, as the SGX Nifty indicates a negative 30-point move as of 8:00 AM. If you look at the charts a bit more broadly, there has been a minor change in the Nifty and Bank Nifty charts. Nifty seems to be pushing up, but Bank Nifty is struggling. So, theoretically, this is a sign of consolidation. Let’s take a closer look at the charts. Current View Today's sentiment is similar for both the Nifty and Bank Nifty charts. > That,The market may open with a slight gap-down start, according to the SGX Nifty indication. So, after that gap-down, if the market finds support around the immediate support level, it may consolidate between the previous day's high and the immediate support level. > But, Even if it consolidates, structurally, it will continue the rally once it breaks the previous day's high. In this case, if it breaks the previous high without consolidation (like yesterday’s movement), the same bullish trend may continue further. Alternate View > The alternate scenario suggests that if the gap-down sustains and the market breaks the immediate support level solidly, then the correction could continue, with some minor bounce-backs. These are the two possible scenarios for today's session.
NSE:NIFTY
by Manickamtraders