Niftytrendanalysis
#Nifty directions and levels for August 12th.Good morning, friends! 🌞 Here are the directions and levels for August 12.
Market Overview
Both global and local markets have been trading within a minor range. Today, the market may open with a neutral start because the SGX Nifty is indicating a positive 5-point move.
Nifty and Bank Nifty share the same range-bound market sentiment. Let's take a closer look:
In the previous session, both Nifty and Bank Nifty closed with consolidation after a significant gap-up. If the market breaks the previous high, then we can expect a minor rally, but not a big one. A big rally is expected only if the breakout occurs with a solid green candle and some consolidation around the immediate resistance level. However, if this doesn't happen, the market may reject at that level and continue in its current range, which is our first scenario.
Alternatively, if the market initially declines, the 38% Fibonacci level will act as a key support. If the market finds support there, the range-bound movement may continue. On the other hand, if it breaks below the 38% level, we can expect the correction to continue.
NIFTY will drop to 20,000?Comment with your thoughts and your views about $NSE:NIFTY.
Disclaimer:
Candlestick charts are a tool for understanding market trends, but they do not guarantee future market behaviour. So, this is only for educational purposes.
Nifty50 (Weekly)Thers a Fib Gap pending at 25095 so there's a high possibility to fill the above gap .
If rejects from the above level then it could test below target marked on the chart .
23350--23700 imp support range
Disclaimer:
It's a personal view not a financial advice and I assume no responsibility and liability whatever outcome arises.
DECODING NIFTY50's NEXT MOVES - A PROFIT BOOKING COMING SOON ?Nifty50 is continuously hitting fresh record highs at a faster pace tirelessly. There is definitely strong momentum by bulls towards upside but at the same time we can't deny the fact the there's a thing called 'Valuations' which are hinting that markets are modestly overvalued.
The run after breakout of 23500 has been tremendous & we have seen Nifty gained more than 1000 points back to back but as per my experience and my view, A profit booking & retracement is pending the the market.
So, with that view, I am creating short positions in Nifty far month futures (as premiums are much more there) at CMP 24620. I will add more position between 24800 - 24900 & will hold this position with SL above 25K.
I am expecting markets to witness a strong profit booking in coming sessions as markets are extremely overbought already & budget is scheduled in next week. Any negative news in or related to union budget will trigger strong profit booking in market.
I have also mentioned targets for my short position in the chart above & tried to decode Nifty's trend for months to come. Let's see what time will show us.
Nifty50 Analysis of Monthly Charts₹₹Nifty50 in may showing negative divergences but because of money flows & everyone becoming Bullish on Market after election results. Nifty50 not move with charts & give upward breakout towards 2018 Trend line but Nifty50 slightly cross this. Now Nifty50 might take some break or move along with trend line. But a Blowoff Top is set in all major markets around the clock & starts of bear markets. Thanks you & Trade with proper risk management & consult your advisors.
#Nifty directions and levels for August 5th.Good morning friends 🌞 Here are the directions and levels for August 5th.
Market Overview
Still the correction is continuing the Dow Jones chart, reflecting a bearish sentiment. Our local market also shares this sentiment. Therefore, today might see a significant gap down at the opening, as indicated by a 250-point negative start in GIFTNIFTY.
There is still a tug-of-war between the Nifty and Bank Nifty charts. According to the wave structure, Nifty has a correctional structure, while Bank Nifty has a range-bound structure.
>How does this affect the Nifty chart? It's just sentiment. If, during the correction, Bank Nifty supports it, then the correction would continue effectively. On the other hand, if it tries to maintain the range market, then it would take a pullback. If this happens, Nifty might undergo consolidation or possibly a pullback, because the banking sector has the major weightage in Nifty.
However, I share the same direction for the Nifty and Bank Nifty charts. that, If the gap-down sustains (consolidates) or breaks the immediate support level with a solid candle, then the correction will likely continue further. This is our basic structure.
Why Do I Mention the Pullback Levels of 23% and 38%?
In this scenario, if the market takes a solid pullback in the initial phase, it could reach those levels. Usually, the trending market could take a maximum 23% to 38% pullback of the minor swing. but it won't sustain. If it rejects there, then the trend will continue once it breaks the previous bottom. That's why I mention those levels.
What Should We Do If It Breaks the 38% Fibonacci Level?
Whenever the trending market takes a pullback of more than 38%, the momentum will reduce a little bit. If this happens, we can expect some consolidation into a range market. and The range market targets are expected to be a minimum of 50%, 61%, and 78%. If you are an options buyer, the premium might not increase in this sentiment, so trade carefully.
short term trading opportunity in Orient Cement for > 20% upsideHi,
RANASUG
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.
short term trading opportunity in Indus Tower for > 15% upsideHi,
NSE:INDUSTOWER 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.
short term trading opportunity in tnpetro for 20% upsideHi,
NSE:TNPETRO has given a Bullish Flag Breakout on Weekly charts with very good volume.
MACD is also on the bullish side on Daily, Weekly 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.
Nifty50 towards if we get Nifty50 around 23400 - 23250 range, I think that may act as a good support. Which is around a 5% fall from LTP. 23200 is also ' Fib .5% ' from election low to ATH of Nifty50.
medium term trading opportunity in timken india for huge upsideHi,
NSE:TIMKEN 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.
Short term trading opportunity in Vindhya Telelink for 20% upsidHi,
NSE:VINDHYATEL 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.
short term trading opportunity in india nippon for 20% upsideHi,
NSE:INDNIPPON 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.
short term trading opportunity in GOCL corp. for 20% upsideHi,
NSE:GOCLCORP 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.
short term trading opportunity in Essar Shipping for huge upsideHi,
h NSE:ESSARSHPNG as 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.
What’s Nifty planning to do next?After the budget on July 23, 2024, Nifty experienced a slight retraction. But, today (July 26, 2024), it recovered and created an all-time high of 24, 861.
This raises the question, “ What’s Nifty planning to do next? ”
For a change, let’s try to decipher Nifty’s next move using Neo waves. We begin the count from the Election results’ day low hit by Nifty on June 4, 2024.
As, Nifty moved ahead, we became more convinced that it is creating a Neo wave Diametric pattern (bowtie), which is a 7-legged structure. This quote from neowave.com, will help you understand why we considered it a diametric pattern – “ As the time between waves becomes very similar (but price differences still exist), a Diametric is your best option. ”
Nifty seems to have completed the A-B-C-D-E-F legs of the diametric and is right now in the G wave. So, how far will the G-wave extend?
Ideally, G-wave would be 61.8% of A, but it can also be truncated at either 38.2% or 50% of A.
In case of Nifty, a truncated G wave of 38.2% comes to around 24,950, 50% is around 25,250, and 61.8% is around 25,500. We think that this G wave will most likely hit the 50% mark.
Only time will tell where the G-wave will culminate, but once it hits the 38.2% mark, we should become cautious and begin looking at price action more carefully.
Disclaimer : We are not SEBI registered. The content presented here is based on personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
#NIFTY Intraday Support and Resistance Levels -29/07/2024Nifty will be gap up opening in today's session. After opening nifty sustain above 24890 level and then possible upside rally up to 25010 level in today's session. in case nifty trades below 24830 level then the downside target can go up to the 24710 level.
#NIFTY Intraday Support and Resistance Levels -25/07/2024Nifty will be gap down opening in today's session. After opening nifty start trading Below 24420 level and then possible downside rally up to 24300 in today's session. in case nifty trades Above 24470 level then the upside target can go up to the 24590 level.
#BUDGET2024 NIFTY POV 24/07/2024Well, today's market opening has a gap up in Nifty. Also, all markets will be opening with GUP-UP. So, come to the point I think the market may be going to the downside because of the weak sustainability. the reason for weak sustainability is the big players manipulate the retail buyers or this recovery shows the interest of retail buyers in the bullish view because of this the FII/DII make the big moves where the retailers lose their money in the market sentiments.
L E V E L S:-
SUPPORT:-24300 24100
RESISTANCE:-24600
