Nifty Levels 02/09/24Nifty sustains above 25250 then only upside move possible. 25000 is very storng support
Niftytrendanalysis
Nifty Levels AUG 29/24Nifty sustains above 25141 then onely upside move possible. if nifty breaks 24969 then 24912 and 24856 levels are possible.
#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.
#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.
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.
#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%.
Nifty Levels 27/08/24 Nifty if not sustainnig above 25028 then profit booking may come till 24856.
25028 to 25084 is storng resistance zone .
#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.
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
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..
Nifty Levels 26/08/24Nifty sustaining above 24856 then only move upside if nifty sustaining below 24800 then 24743 ,24685 levels are possible .
Storng support is 24500
Storng resistance is 25000
Nifty Levels 23/08/24Nifty sustained above 24889 then nifty moves towards 24950 , 25016. If nifty breaks 24763 then 24698 , 24636 are possible.
#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.
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
Nifty Levels 22/08/24Nifty sustaining above 24763 then next resistance will be 25000. If breaking down 24698 then 24500 is possible .
#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.
Nifty Levels 21/08/24 Upside view :
Nifty give close above 24763 then 24827 , 24889 are possible
Downside view :
Nifty falls below 24636 then 24575 ,24509 are possible
Storng support is 24500
Storng resistance is 25000
Nifty Intraday Levels | 20-AUG-2024#Optionbuyers
#Niftyoptionscalping
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#Nifty directions and levels for August 20th.Good morning, friends! 🌞 Here are the directions and levels for August 20th.
Market Overview
There haven't been any major changes in the global or local markets. Global markets have a bullish sentiment, while 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 25-point move as of 8:00 AM.
In the previous session, Nifty closed with consolidation, so the previous sentiment may continue today as well. However, I will explain it simply. First, let's look at an alternate variation.
Alternate Variation:
The previous pullback was strong, that indicating a bullish trend. So, if the market breaks the previous high solidly or after some consolidation, we can expect the rally to continue. This is our alternate view. In this case, if the breakout has a solid structure, then the upcoming rally could be a long one, structurally forming a "flag pattern." On the other hand, if the breakout occurs with low volume, meaning if it breaks with some grinding, the upcoming rally could be smaller.
Current View:
The current view is similar to what we saw in the last session. If the market finds support at the immediate support level, it may continue to consolidate, and if this happens, it could break upward. But if it breaks the immediate support level strongly, then we can expect the correction to continue.
NIfty Levels 20/08/24Nifty breaks 24,698 with good volume and Storng close we'll expect to reach 25,000.
If nifty breaks down 24,509 then we expect 24,400 / 24250 Levels .
Storng Resistance is 25000
Storng Support is 24000
Short Term Trading Opportunity in SPIC for > 10% upsideHi,
NSE:SPIC 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.
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#Nifty directions and levels for August 14th.Good morning, friends! 🌞 Here are the directions and levels for August 14th.
Market Overview
Global markets have been maintaining a range-bound movement, while our local market shows a moderately bearish sentiment. Today, the market may open with a neutral to slightly gap-up start because the SGX Nifty indicates a positive 30-point move as of 8:00 AM.
Yesterday's Movement:
In the previous session, Nifty Nifty experienced drastic drops. However, if you take a broader view of the charts, these movements occurred within a range-bound market. Why does this matter? Because if the market rejects any of the support levels, a solid bounce might occur.
So, what about today?
I’m highlighting two possible scenarios:
1st Scenario:
>Even if the market opens with a gap-up, structurally it may not sustain. If this happens, we can expect the correction to continue towards the levels of 24,079 to the 78% Fibonacci level, to the demand zone when it breaks the previous day’s low.
>After that correction, if the market finds support around the major support levels, we might see a 23% to 38% bounce back. However, this bounce is not guaranteed; if it doesn’t occur, the correction may continue with minor consolidations.
2nd Scenario:
If the gap-up sustains structurally, we can expect an initial bounce back of 23% to 38%. Usually, sharp movements bounce back within this range. If the price gets rejected at this level, the major trend will likely continue. However, if it breaks the 38% Fibonacci level solidly, the current movement may shift to a range-bound market. But the probability of this is less likely.
These are today's expectations.
