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Niftytrendanalysis

Nifty weekly analysis for 14/08/23.Nifty is taking a retracement and on the weekly charts have formed an inside candle. The market took a retest to 50% fibonacci levels and recovered. Trend is still bullish as the major trend is in the upward direction and this might be just a retracement. Though the market is stuck in a small range and there are chance of a breakout in the upcoming week. The market has closed below the 20 ema on daily charts, which signifies some bearish trend in the short term. Directional market is not there as it is behaving in a volatile and sideways mode. On the hourly charts, there is a formation on lower low lower high and market is following a bearish trend. Nifty has closed below both the moving averages and is now standing around 19400 levels. In the first trading hour market took resistance from 20 ema and closed even below the 200 ema, traded around it and finally formed an evening star taking resistance from the levels. On 15 minutes time frame, the closed is below both the moving averages and the market still looks bearish. Support :- 19300, 19185 Resistance :- 19500, 19580 The market has closed just below the support level and another support is 100 points lower. If market starts trading below previous day's low, bearish move will be there. Gap up and gap down opening will take the opportunity away as it will be stuck in a range. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by TheMamboMomentum
11 Aug ’23 Post Mortem on Nifty Full Short, But VIX disappointsThe first 5mts candle today had a swing range of 0.34% ~ 66pts but this did not drive up the OTM premiums. The majority of traders have forgotten what fear was like. India VIX was up 2 to 3% then and still in the 11.5 range. The complacency has gotten into the traders so deep that they think some dip buyers will come in and rally the markets by closing hour. Today we did not witness that, Nifty50 for a change did not see dip buyers in the last hour. Instead the selling was intensifying. Even then - there is no fear, in fact VIX closed with just a 1.07% gain. As I write this article, US VIX is 15.78 and SPX is just 3.23% down from the 52 week highs. Also now could be the best time for the big bears to enter the market as the valuations & prices are lofty and they get good meat! Glad yesterday’s short call worked out, but nothing to be proud of as 19296 (recent swing low) was not taken out. We did not even get near it today. You might be thinking I am pessimistic about Indian stock markets and a permabear - the reality is I am not. There is a severe disconnect between the stock valuations and the actual economy. I will try to publish the research “Why a full blown depression is a blessing for the poor '' by this weekend. The prices of day-to-day essentials are so high that low income households are slipping into poverty. Stock markets reflect the rich, not the poor. The broader economy can remain down and stock markets up for a long period of time, its just euphoria. But what bends usually is the stock price! On the 1hr TF, Nifty50 has fallen back below the bearish trend line. We will continue to go short till this status quo holds. The first target to take out will be the recent swing low of 19296. The next support comes at 19190.
NSE:NIFTYShort
by viswaram
#Nifty"Good morning! As of August 10th, the global market sentiment is slightly negative (based on the Dow Jones alone), while the market trend remains moderately bullish. There is no significant difference from the last session. Therefore, whether it opens with a gap-up or down, it won't matter. If the initial market experiences sharp declines, we can anticipate a ranging market or a correction. On the other hand, if the market exceeds yesterday's high, we can expect the rally to continue with minor corrections. However, the important thing to note is that today's market has a significant event: the RBI MPC meeting at 10 am. This is a major event, and the market will likely move based on its outcome. So, it's advisable to take your position a bit more cautiously. "
NSE:NIFTY
by Manickamtraders
#nifty"Good morning! As of August 9th, the global market sentiment is neutral to slightly negative (based on the Dow Jones alone), while the market trend remains moderately bullish. There is no significant difference from the last session. Therefore, whether it opens with a gap-up or down, it won't matter. If the initial market experiences sharp declines, we can anticipate a ranging market. However, if it breaks the immediate support zone, the correction is more likely to continue.. On the other hand, should the market exceed yesterday's high, we can expect the rally to continue with minor corrections."
NSE:NIFTY
by Manickamtraders
2
Nifty daily analysis for 08/08/23.Nifty has formed a doji and trade whole day in a range of 100 points. The market is following a rising wedge channel and today has given closing above 20 ema. On the hourly chart, it has closed above both the moving averages. There seems no opportunity for option buyer. Market opened gap up and remained volatile. Fight between buyer and seller couldn't take market anywhere and it closed only 80 points higher. On 15 minute chart, nifty took support from 20 ema and in the second half after crossing 200 ema took support from the level. Both the moving averages are close enough. Support :- 19535, 19420 Resistance :- 19600, 19720 Nifty struggled to cross 19600 levels today and closed below it. The market is giving gap up opening and not giving much opportunity to option buyer on intraday basis. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by TheMamboMomentum
#nifty"Good morning! As of August 4th, there is no significant difference compared to the last session. However, the global market sentiment is slightly positive (based on the Dow Jones alone), and the market trend is bearish. There is a possibility of opening with a neutral to slight gap-up. Afterward, if the initial market breaks the previous day's closing price, it will reach the 38% Fib level. This level acts as a strong resistance, so there might be a rejection here. We can expect a continuation of the pullback only if the market breaks the 38% Fib level. On the other hand, if the initial market experiences sharp declines, we can anticipate a continuation of corrections with minor pullbacks, but it should break the previous day's low."
NSE:NIFTY
by Manickamtraders
#nifty"Good morning! As of August 3rd, the global market sentiment is slightly negative (based on the Dow Jones alone), and the market trend is bearish. Therefore, whether it opens with a gap-up or down doesn't matter. If the initial market experiences sharp declines, we can anticipate a continuation of corrections with minor pullbacks (potentially breaking the previous day's low). On the other hand, if the initial market undergoes some consolidation, there is a possibility of a 50 to 61% pullback (with the potential to break the 38% Fib level)."
NSE:NIFTY
by Manickamtraders
Nifty will break rising channel or support from the channel ?Hope all are doing great. Here’s my 1D timeframe analysis. As we can see in the chart from 18-Nov-2022 to 5-Apr-2023 around 138 days there was a good falling channel pattern. It broke and achieved 3 times the target. The next 138 days from the previous breakout is forming beautiful rising channel pattern. As per the pattern nature it might break below to the given support level 19118. Expecting to touch that support level on or before 22-Aug-2023. I also shared similar analysis for banknifty giving reference below. Always trade carefully with proper SL because it’s your hard earned money. Please note this is just my observation and purely for educational purposes only. Consult with your financial advisor before taking any trade.
NSE:NIFTYShort
by tmvinoth3
#nifty"Good morning! As of July 31st, there is no significant difference between the last session, but the global market has a neutral sentiment (based on only Dow Jones), and the market nature is bearish. Therefore, it doesn't matter if it opens gap-up or down. If the initial market takes sharp declines, we can expect correction continuation with minor pullbacks. On the other hand, we can expect a rally only if it opens with a gap-up and sustains above the level of fib 38%. If it sustains, our next targets are 61% and 78%. Here, I mentioned a reversal structure (alternate view). If it rejects sharply around the 61% or 78%, we can expect a correction, but use the confirmation signal of (EMA20 and fib level 38%). If it breaks both signals, we can expect a correction. Otherwise, the rally might continue."
NSE:NIFTY
by Manickamtraders
#niftyGood morning! As of July 26th, the global market is starting positively, with GIFT Nifty showing a +12 point increase from the previous session. The market seems to be moving in a range without significant differences compared to before. It's moderately bullish, meaning there's an upward bias. We might see a slight gap-up opening. If the market stays within the range, it's likely to continue going up without a big drop. However, be cautious of a potential correction if it breaks below the immediate support zone
NSE:NIFTY
by Manickamtraders
6
#nifty"Good morning! As of July 25th, the global market is indicating a positive start, with GIFT Nifty showing a +45 point increase. There is no significant difference from the last session, suggesting a range-bound market structure. The market's nature is moderately bullish, and there is a possibility of a slight gap-up opening. If it sustains within the range, we can expect the market to continue without a correction. However, a correction may occur if it breaks below the immediate support zone."
NSE:NIFTY
by Manickamtraders
4
10 Jul '23 Post Mortem on Nifty A Calm Before The …?The day started with a gap up at a 50% level between the high & low of the last session. From there we saw 2 to 3 candles of fall, but nothing serious to retest yesterday's swing low. From 09.35 to 10.40 we had a good rally up to the 61.8% retracement levels. And then we had a fall of 0.54% ~ 104pts till 12.05. A small pullback till 13.55 and then a fall again of 0.4% ~ 77pts to the same 19334 levels. Why is 19334 level so much interesting, read the 03 Jul analysis. The interesting part is that even though we had 2 falls today & the price action from the previous day also showed bearishness - I went long today (will explain the rationale shortly).  Trades Taken The first trade taken around 10.24 AM when N50 was surging. I exited the bearish credit spread of 19500/19600 CE at a negligible profit & went long by initiating bullish credit spread of 19400/19300 PE. 19400 PE sold for 70.2 & 19400 PE bought for 36.05. At that particular timestamp the trade felt okay and hence punched. After the day's close & analysis - I feel it was not that necessary. Nifty was not that bullish nor bearish today - it was just a calm day. If N50 falls tomorrow, I will have to exit the bullish credit spread at a loss and re-enter the bearish credit spread. Lets hope today's time decay will give some advantage!
NSE:NIFTY
by viswaram
Nifty 50 Weekly Market Outlook: July Week 1, 2023 On Daily charts, we observe that a new channel trendline has been adjusted after previous week’s rally and a new bandwidth line between the lower and upper bound has been redrawn too. Last week rally is breakout above bandwidth resistance ( Support point now: 19,042) which will act as a first support moving next week. On higher levels we can see a rally upto 19,317 which is the channel resistance point, although less likely on grounds that Weekly charts show rally to ATHs has been on a declining volume and rising prices since last week of May 2023, indicative of weak price action and definitely after breaching a psychological resistance we expect a profit booking from current levels. So outlook is to watch till 19,317 but expect profit booking simultaneously. Lower levels stay intact at 19,042 as first resistance which is centre/bandwidth point of channel and a breach below this point will push the index to 18,896 undoubtedly. There’s a consolidation between 18,734 – 18,896 which we expect to hold index in case of further drawdown.
NSE:NIFTYShort
by chandakpulkit
1