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Niftytrendanalysis

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
Nifty Intraday Levels | 20-AUG-2024#Optionbuyers #Niftyoptionscalping 1️⃣ Zones you always Like:- 👉Green zone- Institutional support 👉Red zone - Institutional resistance 👉Gap between institutional zones is always of 100 points 👉Zone is created with the help of pivot points and Fibonacci 👉Advance version of price action 👉Trades based on Nifty future chart 2️⃣ Trade Execution:- 👉Trade based on order flow data 👉Timeframe - 1 min and 5 min 👉Risk Reward Ratio always 1:2 👉Strike price always ATM & slightly ITM 👉Maintain Position sizing according to your own method 3️⃣ House Rules in trading:- 👉Sharp at 9:15 AM 👉Priority to risk management 👉Fast execution (morning breakfast) 👉Stop-loss 10 points (strictly) #ThankU For Checking Out Our IDEA , We Hope U Liked IT 📌 🙏FOLLOW for more ! 👍LIKE if useful ! ✍️COMMENT Below your view !
NSE:NIFTY1!
by ReviveTraders
#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.
NSE:NIFTY
by Manickamtraders
3
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. 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:SPICLong
by raigvivek
1
#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.
NSE:NIFTY
by Manickamtraders
7
#Nifty directions and levels for August 13th.Good morning, friends! 🌞 Here are the directions and levels for August 13th. Market Overview Both global and local markets have been trading within a minor range. Today, the market may open with a neutral to slightly gap-down start because the SGX Nifty is indicating a negative 20-point move. Nifty Analysis Nifty showing a diagonal pattern. In the previous session, nifty had significant swings, but it closed near neutral by the end of the day. If we simplify it, we can say it's a range market. However, structurally, it’s a diagonal pattern, and there’s no real difference between the two because both are time adjustment patterns. So, we should wait for a breakout from this range, whether to the upside or downside. If it breaks out, we can expect only a minor trend initially because the structure suggests there isn’t a big move ahead. But if we see a solid breakout candle, then we can expect stronger momentum. This forms our basic structure. However, if the range isn’t broken, the market will likely continue moving within it.
NSE:NIFTY
by Manickamtraders
#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.
NSE:NIFTY
by Manickamtraders
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.
NSE:NIFTYShort
by akshit_official
6