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16 Feb ’24 — Nifty stance upgraded to Bullish, BN NeutralNifty Analysis - Stance Bullish ⬆️ Recap from yesterday: “A gap-up is ideal as it will quickly tip the balance to the Bulls as short sellers will have to run for cover. We wish to change the status from neutral to bullish only if we get a 63mts candle above the 21913 resistance line.” 4mts chart We all knew it would be a gap-up today and see how the bears ran for cover when we opened 93 points ~ 0.43% above yesterday’s close. The spike in CALL premiums was enough to show the fear of short covering. Secondly, there was no attempt to close the gap - which would have left the Bears with no choice but to abandon their short position or roll over to the next week and find a similarly priced strike. Fortunately, most would not have made a heavy loss as the “real breakout” did not happen today. Nifty was just contented to hold the ground and not concede the territory. After the first 63-minute candle we revised our stance to bullish, if you have read our last few reports - you would understand the rationale too. See the island formed above the resistance level of 21913. It is a classic breakout formation. From 15th Dec 2023 to 15th Feb 2024 - Nifty was in a narrow range of 21491 to 21913 with a couple of false breakouts/breakdowns. So we are keeping our fingers crossed this time to validate whether it works out. One way to do that is to check for follow-through price action. Blips do not last that long and we usually fall below the resistance (just like what happened on the last 2 occasions). Today is the first time I guess Nifty made the move ahead of BankNifty for a direction change. BankNifty has a lot of headroom left and if it catches up to its ATH - the impact on Nifty is going to be more than awesome. 63mts candle
NSE:NIFTYLong
by viswaram
NIFTY prediction for tomorrow 16th FEB 24As we discussed NIFTY for today, it ended sideways. Now, if we look at the chart data: The market has already given a breakout as it expired today. It ended sideways to the upside while facing resistance at 21950. The market will be sideways in the range of 21800-21950. EMA has given bullish-crossover EMA(50,200). Which shows the market is in a good bullish phase. If we look at the OI data: Pcr = 0.96 shows a bullish signal. Also, 21900 has very good PE writing, which shows it's going to provide good support. On the upper side, there is good resistance CE writing at 21900, 21950, and 22000. that will provide nice resistance. FII & DII have yet to be released.- I will update you in the comments. The market should be sideways in the range of 21800-21950. if it breaks 21950 to the upside, I can expect a good bullish momentum till 22110, as has been marked in the chart. Reasons: Price > EMA(13,50,200) which shows nice bulls power. EMA golden crossover EMA(50,200) shows bullish trend. RSI ~ 60 but sideways with bullish divergence, which shows the market can move to the upside. OI data Pcr = 0.96 shows bulllish market sentiments. Price ~ VWAP, which shows market price and volume both are balanced. The market has a good range to go upside down. Verdict: Sideways in the range 21800-21950. Bullish if it breaks 21950 to the upside. Plan of Action: Iron condor in range(21800-21950) if it breaks to the upside, add a bullish position and exit a short position.
NSE:NIFTYLong
by finnova_
Nifty levels - Feb 19, 2024Nifty support and resistance levels are valuable tools for making informed trading decisions, specifically when combined with the analysis of 5-minute timeframe candlesticks and VWAP. By closely monitoring these levels and observing the price movements within this timeframe, traders can enhance the accuracy of their entry and exit points. It is important to bear in mind that support and resistance levels are not fixed, and they can change over time as market conditions evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance to consider. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We hope you find this information beneficial in your trading endeavors. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you success in your trading activities!
NSE:NIFTY
by sacxe
#Nifty directions and levels for FEB 16th#Nifty Good morning! the market directions for February 16th. It seems like there is an overall positive sentiment in the global market, with support from the Dow Jones. Locally, the market sentiment is also moderately bullish, with a potential gap-up start indicated by Giftnifty showing +60 points. Regarding Nifty, it's mentioned that there has been a breakout structure following consolidation and that it might be in the 5th impulse wave, which is considered a distribution wave. There's an anticipation of a potential ABC correction if the market rejects around the immediate resistance or if there's a sharp decline in the initial market. The minimum requirement for the ABC correction is specified to be within the Fibonacci levels of 23 to 38%. Alternatively If the gap-up sustains or breaks the immediate resistance at 22,000, the expectation is for a further rally continuation. In this case, the market could reach a supply zone
NSE:NIFTY
by Manickamtraders
1
Nifty lebels - Feb 16, 2024Nifty support and resistance levels are valuable tools for making informed trading decisions, specifically when combined with the analysis of 5-minute timeframe candlesticks and VWAP. By closely monitoring these levels and observing the price movements within this timeframe, traders can enhance the accuracy of their entry and exit points. It is important to bear in mind that support and resistance levels are not fixed, and they can change over time as market conditions evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance to consider. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We hope you find this information beneficial in your trading endeavors. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you success in your trading activities!
NSE:NIFTY
by sacxe
Nifty weekly expiry analysis for 15/02/24.A bullish engulfing candle on the daily charts after a gap down opening is showing some positive momentum and there are possibility of market test 22k levels soon. Today the market remained in a bullish move from the morning and closed above the 20 ema. After a consolidation there was a good break out and market tested the resistance level of 21850. If there is a gap up opening above today's high, let market settle and test the break out zone and any bullish price action can be an indication of entering a trade. In case of a flat or slight gap up/down opening, wait for a consolidation and if the market consolidate in the first half, there will be a trending move in the second half. Tomorrow is the weekly expiry for the index. VIX has also cooled a bit. Major resistance level :- 21880, 21960-22000 Support levels :- 21810, 21750. The market is moving both side and is trading in a wide range. After 3 trading session the market has closed above 21800 levels which is another positive for a bullish move in the market. Wait for the price action near the levels before entering the trade.
NSE:NIFTY
by TheMamboMomentum
#Nifty directions and levels for FEB 15thGood morning, friends! Here are the directions for February 15th: The global market sentiment is moderately bearish, supported by the Dow Jones, while our local market sentiment shows a moderately bullish trend. It might open with a gap-up start, as indicated by Giftnifty showing +80 points. Nifty had a fantastic rally in the last session, so structurally it will continue further. Even though it may face rejection around the immediate resistance, if it does, we can expect a maximum 23 to 38% Fibonacci correction. After that correction, if it finds support around 38%, then we can expect a range market to pullback continuation. This sentiment is also applicable for initial market rejection. Alternatively, we can expect a correction only if it breaks the Fibonacci level 50%, because if it corrects, it might be in the 4th wave, which is a consolidation wave with a maximum correction level of 50%. Therefore, we mention that the correction will occur only if it breaks the Fibonacci level 50%.
NSE:NIFTY
by Manickamtraders
Nifty Expiry prediction for today 15 Feb 24I have been busy for the last two days. If you have been following my analysis, we marked a resistance and support line, which got a breakout yesterday, and after that, it gave a very nice bullish momentum. Now, if we look at the chart: The market is trading at the resistance zone right now after yesterday's good bullish momentum. Price has broken 200 EMA. Also, an emacrossover has happened, which shows the market is not in a bullish phase. if we look at the OI data: PcR = 1.20, which shows the market is very bullish, as its expiration of 22,000 shows severe resistance. All the levels below, including 21800, have good pe writing that shows bullish sentiment of the market. FII and DII show bearish on Options, which might lead to some sideways days because, in the future, FII is bullish. I expect the market to consolidate a little bit here in the orange marked region. Also, its expiry tends to end sideways. If it breaks the upside, it will not be a very healthy breakout right now. Reasons: Price > EMAs, which shows the market is strong. EMA bullish crossover shows good market strength. RSI > 60 shows good strength in the bulls. OI data Pcr = 1.20 shows the bullish sign. Price> VWAP, which shows the market is having strength. The market is trading at a resistance zone. As it has been tested multiple times, there is a probability it might break. Because of expiry, I am not expecting much of the moment today. Verdict: Sideways in the orange zone. If breaks to the upside can go bullish (low chances) Plan of action: Case 1: Range selling in the orange zone. Case 2: go bullish if it breaks 21900 to the upside.
NSE:NIFTY
by finnova_
Nifty Market Analysis - 15 Feb 2024Yesterday market went bullish, I was biased on bearish view but it went bullish. This is why market is unpredictable, However, market respected my support and resistance levels which helped me to take trade entry. Similarly, Today also I'm sharing my support and resistance levels for today 15 Feb 2024. Being an expiry day, I'm expecting a sideways or rangebound market today, be cautious in trading. This is my analysis not a buy/sell recommendation. You can take risks based on the support and resistance levels as target/stoploss levels. Happy trading! If you like my analysis, Please like and follow
NSE:NIFTY
by optreen
14 Feb ’24 Nifty flies like a kite today, Resistance quite nearNifty Analysis - Stance Neutral ➡️ Recap from yesterday: “On the 63mts chart, Nifty is still neutral with no clear indication of the next direction. BankNifty is bearish and the chances of Nifty going down may be higher due to that. The first target to break should be 21491 below which the bearish momentum will pick up an avalanche effect.” 4mts chart Nifty does another impossible feat today, breaks yesterday’s swing low and then surges 341 points ~ 1.59% to close near the resistance level. Yesterday we were gearing up to go short today as every indicator pointed to a negative start with a bearish bias. The global macro was pretty bad as SPX closed at -1.37% as their CPI Inflation data came in hotter than expected. Market participants here were expecting Nifty to fall at least 200 points today, but look at what happened - we fell first trapping the bears, and then shot upwards creating an avalanche (but in the positive direction). The price action made sense till 14.03 as it's quite normal for the indices to retrace and close the gap. But a surge of 234 points ~ 69% of the day’s swing range within the closing hours made no logic at all. We still believe it could be news/event-related and if yes - we may get to know it by tomorrow. In the 63mts chart, see the encircled region - the strength of the green candles stands out prominently. This has given Nifty a total makeover, till yesterday we were neutral with a moderate bearish bias. Today we are still neutral but with a bullish bias - as the resistance of 21913 is much closer than the support of 21491. The interesting thing is that if the moves today were not news-related and is a technical reversal then the break of 21913 will ensure the ATH is also getting taken out. 63mts chart
NSE:NIFTY
by viswaram
Nifty levels - Feb 15, 2024Nifty support and resistance levels are valuable tools for making informed trading decisions, specifically when combined with the analysis of 5-minute timeframe candlesticks and VWAP. By closely monitoring these levels and observing the price movements within this timeframe, traders can enhance the accuracy of their entry and exit points. It is important to bear in mind that support and resistance levels are not fixed, and they can change over time as market conditions evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance to consider. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We hope you find this information beneficial in your trading endeavors. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you success in your trading activities!
NSE:NIFTY
by sacxe
#Nifty directions and levels for FEB 14"Good morning, friends! Here are the directions for February 14th: The global market sentiment is bearish, supported by the Dow Jones, while our local market sentiment shows a moderately bearish trend. It might open with a gap-down start, as indicated by Giftnifty showing -190 points. Nifty had a solid pullback in the last session, but today Giftnifty indicates a negative 190 points, so I don't know exactly where it will open. In my personal opinion, if it finds support around the 61% followed by the gap-down, we can consider this as the 5th wave of the diagonal. It's the final wave of the correction structure, so we can expect a further pullback followed by rejection. However, if it consolidates or breaks this level, then the correction might continue. Alternatively, if it doesn't break the immediate support level of 21605, then it might consolidate for a rally continuation."
NSE:NIFTY
by Manickamtraders
Nifty level - Feb 14, 2024Nifty support and resistance levels are valuable tools for making informed trading decisions, specifically when combined with the analysis of 5-minute timeframe candlesticks and VWAP. By closely monitoring these levels and observing the price movements within this timeframe, traders can enhance the accuracy of their entry and exit points. It is important to bear in mind that support and resistance levels are not fixed, and they can change over time as market conditions evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance to consider. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We hope you find this information beneficial in your trading endeavors. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you success in your trading activities!
NSE:NIFTY
by sacxe
1
#Nifty directions and level for FEB 13Good morning, friends! Here are the directions for February 13th: The global market sentiment remains moderately bullish, supported by the Dow Jones, while our local market sentiment shows a bearish trend. It might open with a slightly gap-up start, as indicated by Giftnifty showing a +50. Nifty has some corrective banding waves. If the initial market declines, then we can expect a further bit of correction. After that, if it takes support around 21561 or 61%, then we can anticipate a minimum of a 23% to 38% pullback wave. On the other hand, if it consolidates or breaks that level solidly, then the correction will continue. Alternate view: However, in the last trading session, Nifty fell 250, and the RSI shows divergence with the formation of a minor diagonal pattern. So, if the gap-up sustains, then that pullback will continue with minor consolidations. However, the fib level of 38% is a major resistance zone, so if it rejects sharply, we can expect further correction.
NSE:NIFTY
by Manickamtraders
1
FASP levels for Nifty 13/02/2024The FASP for Nifty is listed for 13-02-2024. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:NIFTY
by SathishChandrasekaran
Nifty levels - Feb 13, 2024Nifty support and resistance levels are valuable tools for making informed trading decisions, specifically when combined with the analysis of 5-minute timeframe candlesticks and VWAP. By closely monitoring these levels and observing the price movements within this timeframe, traders can enhance the accuracy of their entry and exit points. It is important to bear in mind that support and resistance levels are not fixed, and they can change over time as market conditions evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance to consider. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We hope you find this information beneficial in your trading endeavors. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you success in your trading activities!
NSE:NIFTY
by sacxe