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Swing Traders Alert: Nifty Outlook for 29/01/2024 - 02/02/2024Technical Observations: Moving Averages: The Nifty index is currently trading below both the 30 SMA and 50 SMA on the 75-minute chart. This indicates a significant weakness in the market, as the shorter-term (30 SMA) and intermediate-term (50 SMA) trends are both bearish. Key Support Level: The market is currently trading below a crucial support level of 21500. This breach suggests increased bearish pressure, and traders should exercise caution when considering new trades. Trading Strategy: Cautionary Approach: Given the observed weakness in the Nifty chart, traders are advised to exercise caution when contemplating fresh trades. It is prudent to wait for more clarity in the market conditions before initiating new positions. Resistance Levels: Immediate Resistance: 21500 The market must break above this level to signal a potential shift in sentiment. Traders can monitor this level closely for signs of a bullish reversal or further weakness. Crucial Resistance: 21700 A break above this level would indicate a stronger bullish phase in the market. Consideration of new trades can be more confident if the Nifty surpasses this crucial resistance. In conclusion, the Nifty index exhibits significant weakness as it trades below key moving averages and a crucial support level. Traders should exercise caution when considering new positions and closely monitor the immediate resistance at 21500. A breach of this level, followed by a move beyond the crucial resistance at 21700, could provide opportunities for entering trades aligned with the evolving market conditions. Stay vigilant, adapt to changing circumstances, and adjust trading strategies accordingly. Disclaimer: The information provided in this analysis is for educational and informational purposes only. It is not intended as financial advice or a recommendation to buy or sell any securities.
NSE:NIFTY
by TTS007
Nifty levels - Jan 29, 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 Intraday Trade Setup | 25th Jan '24Today Nifty opened with a gap down around 21200 and after forming a low at 21137 Nifty gave more than 300 points recovery from lower levels and closed near day high. For Tomorrow, 25th Jan if Nifty sustains above 21525, we expect more upside towards 21570 and upper marked levels. On the other side, Nifty has to break 21370 for more downside towards 21320 and below marked levels. Expectations: Volatile Day Intraday Levels: Buy Above - 21525 Sell Below - 21370 To motivate us, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India
NSE:NIFTY
by InvestPro_India
2
Nifty weekly analysis for 23/01/24.Nifty on weekly and daily time frame has formed a engulfing candle and chance are there of market going down if it breaks below 21500 level for intraday. It has been taking support from the daily 20 moving average and rejection from 50% fibonacci level. If market tries to move up side it will hit the resistance levels of 21800. In case the level is crossed and sustained, it can test 22000 level. Up move targets :- 21800, 21970. On the other hand, market can test the support levels of 21500 and 21350. Even the hourly 200 ema will also act as a support i.e. 21430. Support levels :- 21500, 21430. 21350 Chances are there that market can retest the support levels and if the last support levels of 21350 is breached, bearish trade targets can be 21020-21110. Wait for opening of the market as much of the movement is decided after the price action.
NSE:NIFTY
by Mambotrade
Nifty levels - Jan 25, 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 Ready for 22500 in next 10-12 MonthsNifty Weekly is moving in Step form .... 21% upside after each breakout. Breakout from current Levels of 18500 in coming weeks will make Nifty move towards 22500 in next 1 Year. Cup & Handle Pattern Breakout on weekly channel supporting same. Recommendation is Buy on Dips in Nifty LTP - 18300 SL - 17500 Targets - 22500 Timeframe - 12-15 Months. Right time for Investment in Blue-chip stocks for handsome ROI in coming 1-2 years. Happy Investing.
NSE:NIFTYLong
by JITU_210
NIFTY prediction for tomorrow 24/01/24According to our past discussion, NIFTY had a bearish nature for a couple of days. It had a nice fall today. If we look at the chart, it has broken the HNS Neck to the downside with huge volume pressure. The market might continue to be bearish in the coming days. If we look at chart 21025, the next support point can be set as target 1 and 20791 as target 2 according to the HNS pattern breakout to the downside and also the price action level. While looking at the OI data, PCR = 0.63; also, today's OI change shows huge bearishness with Call change = 3.28Cr Put change = -21.82L, which means it was a huge PE windup with additional CE writing. The market is bearish. Reasons: Nifty is making HNS at the top of the trend, which means upcoming sessions are going to be bearish with target levels marked on the chart. (Bearish) Price < EMAs shows the market's bearish nature. (Bearish) The market has given the Death crossover, which is a strong signal of a Bearish market. (Bearish) OI data PCR = 0.63 shows bearish signal. (Bearish) RSI < 40, which shows weakness in bulls strength. (Bearish) VWAP is at 21600, which indicates prices are not volume balanced. (sideways) Verdict: Bearish Plan of action: Look for a 15-minute candle; make a position based on the PA marked on the chart.
NSE:NIFTYShort
by finnova_
6
23 Jan ’24 — 5 strong RED candles & a broken support - Nifty50Nifty Analysis - Stance Bearish ⬇️ Recap from yesterday: “Nifty was unable to get into the ascending channel despite results from RELIANCE and major banks. We suspect some weakness is haunting N50. It could completely be news/event-driven or related to the build-up for the budget session. The selling figures from the institutions may be because of this. From a technical analysis perspective, Nifty looks range bound between 21913 and 21491. Falling below 21491 could auto-trigger further shorts and it could even be an avalanche.” 4mts chart Last week you saw a 2% fall in Nifty and today it was just 1.54% but the “real intensity” would be missing if you just looked at the headline numbers. Today Nifty fell a whopping 559pts ~ 2.57% HOD to LOD. The gap-up would have trapped a lot of traders today. Most of them would have come ready to hit the BUY button after the euphoria from “Ayodha Temple Inauguration yesterday”. Or it could just be a profit booking as the event is over, we need to understand the run-up to this level was more than ecstatic. 63mts chart We broke the 21491 support by 12.24. Just look at the strength of the candles today - 5 RED candles followed by a Doji. Our stance changed from neutral to bearish as soon as the support was breached. The bullish channel looks broken and maybe it is time for bears to launch their attack. Ayodhya's Inauguration was on 22/1/24 and Nifty ATH is 22124 - guess both these numbers are here to stay for a while. 21038 is the next support followed by 20774.
NSE:NIFTYShort
by viswaram
#Nifty directions and levels for JAN 24th#Nifty "Nifty had a sharp correction. structurally, it might be in a 'C' or '3rd' wave. So, if the market opens with a gap-down, then the correction will likely continue. After the correction, if the market takes support around 21,159 or the Demand zone, we can expect a minimum of a 23% to 38% pullback wave. However, if it doesn't take support, then we can expect further correction. Alternatively, if the market opens with a gap-up, then initially we could expect a 23% to 38% pullback wave. After that, if it rejects there (at 38%), then we can expect correction continuation (meaning the 'C' leg continuation).
NSE:NIFTY
by Manickamtraders
1
NIFTY OUTLOOK (With this pattern I predicted the COVID CRASH)Amid the all fears of Rising crude oil prices, Fed hiking rates, Rising US treasury yields with no sign of inflation being in control or Rising Dollar index. There is no doubt that bearish sentiment has prevailed among many retail people. But one thing cannot be denied that Indian market has stayed more defensive compared to global markets. One pattern that I have observed is after every 700 -730 days a high is formed in NIFTY. So according to the same cycle, I strongly feel indian markets may correct in healthy manner by forming a top near 1st - 2nd week of Dec 2023. Even if NIFTY falls before, it will form a pull back top at around the same time. Using the same cycle I predicted the COVID CRASH few years back : Link to the study: That doesn't mean one has to buy every dips or short every top. But a profit booking on the every rise is definitely advisable. Aggressive shorts can be done only after confirmation. CHART AND ANALYSIS ADARSH DEY
NSE:NIFTY
by AdarshDey
6
Nifty levels - Jan 24, 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
3
#Nifty directions and levels for JAN 23 #Nifty Good morning, friends. Directions for December 20th: The global market sentiment is bullish, supported by the Dow Jones. However, our local market sentiment shows a moderately bullish trend. It might open with a gap-up start based on Giftnifty, which shows +150. Nifty hasn't formed a proper structure, so if the market breaks the previous high, then we can expect a minimum of 21,744 to 21,804. After that, if it consolidates or breaks this level, the rally will likely continue. But as per the wave, its maximum pullback fib level is 78%. However, if the pullback rejects around 61% (21,804), then we could wait for reversal confirmation using the fib swing low to high. If this fib breaks 38%, then we could consider this a reversal for a bearish trend. Alternate view: If the gap-up doesn't sustain or if it rejects around 21,652, then it might turn into correction. But here also, we will wait for confirmation; when it breaks the fib level 38% (21,533), then we can take a short position.
NSE:NIFTY
by Manickamtraders
Nifty levels - Jan 23, 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 Special session analysis 20 Jan 24NSE is running special trading sessions to test the disaster management platform. There is no compulsion to participate in the trading for today. But if you wish to, here is the analysis that you can follow. Nifty Broke went to the downside but quickly recovered and came back inside the descending triangle pattern (Trend continuation pattern). Yesterday, It felt resistance at 200 EMA and résistance trendZone. If nifty breaks the pattern to the upside, it may go to level 21819. But as it is testing day, only a few traders might participate, which might lead to sideways momentum. Reasons: The market is trading at 200 EMA resistance. It's a make-and-break point. Let the pattern break and enter after retesting. OI data PCR = 0.84(weekly) shows amilg bullish signal. That means if it breaks to the upside, it might give nice targets till 21819, marked on the chart. RSI 40 - 60, which is a sign of a sideways market. If it breaks 60 to the upside, it means the market is going to be bullish. Otherwise, don't enter with the option of buying inside the range 40-60. you can go with selling. Price > EMA(13,50) but 200 EMA still providing resistance. go bullish once it's broken and retested. VWAP is at 21700, which will also be acting as resistance. (sideways or bullish.) Verdict: Sideways if it's inside the pattern OR if it breaks to the upside, go bullish after retest. Plan of action: Go for option selling, as many factors are in favor of a sideways market, too. Wait for 15 minutes for the candle to enter after retracement.
NSE:NIFTYLong
by finnova_
Nifty Intraday Trade Setup | 20th Jan '24Today Nifty opened with a gap up around 21600 and after forming a high at 21670 it remained in a range 21640 - 21575 for the whole day. For tomorrow, buy only if Nifty sustains above 21725, expecting an up move towards 21770 and above marked levels. On the down side, Nifty has to break 21550 for further downside towards 21510 and below marked levels. Expectations: Volatile Day Intraday Levels: Buy Above - 21725 Sell Below - 21550 To motivate us, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India
NSE:NIFTY
by InvestPro_India
2
Nifty levelsNifty 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 prediction for today LIVE 19 JAN 24As we discussed NIFTY yesterday, it opened a gap down, and then buyers showed a nice momentum to the upside but sadly could not hold it. Support became the resistance and resulted in a sideways. If we look at charts now, 21380 provided massive support in that region. so now the market has created a range in 21380-21500. A break in the range will decide the next moment in the market. If we look at the OI data, PCR = 0.80, which is neutral. And monthly PCR = 1.1, which means bulls are still holding their positions, and yesterday, it was more PE writing than CE writing. That shows 21380 activates the bull's buying pressure. The break of the range will decide the momentum in nifty today. Reasons: Price < EMAs; also price ~ EMA(13) that means makret is bearish also in bearish ZONE. RSI ~ 40 means bulls are weak right now. (sideways or bearish) OI data PCR ~ 0.80, which is neutral for the market. Range break will decide the market momentum. 21450 will be acting as MAXPAIN for bears. Once it's broken to the downside, a good target can be achieved. Price < VWAP shows the bearish structure of the market. Verdict: Sideways or Bearish Sideways in the range 21380-21500. if it breaks to the downside, it will go to a bearish target of 21238. Plan of action: For today, the market is going for CE selling, as a sideways possibility is also there. You will be able to hold your positions firmly.
NSE:NIFTY
by finnova_
5
Nifty Intraday Trade Setup | 19th Jan '24Today Nifty opened with a gap down around 21400, Nifty tried to break a resistance zone 21480 - 21500 on upside but we saw a sharp selling in morning and Nifty made a low at 21285. However, we also saw a good recovery from lower levels and Nifty closed above it's opening price which is a positive point. For tomorrow, buy only if Nifty sustains above 21530, expecting an up move towards 21570 and above marked levels. On the down side, Nifty has to break 21400 for further downside towards 21360 and below marked levels. Expectations: Volatile Day Intraday Levels: Buy Above - 21530 Sell Below - 21400 To motivate us, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India
NSE:NIFTY
by InvestPro_India
1
Nifty levels - Jan 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
MIDHANI has exhibited remarkable strength in the recent selling MIDHANI has exhibited remarkable strength in the recent selling market, showcasing its resilience and potential for further upside. Yesterday's breakout, shared in our group, highlights the stock's robust performance. Despite broader market conditions, MIDHANI has maintained a strong trajectory, reflecting its underlying strength. Technical Analysis: Uptrend Confirmation: MIDHANI is currently in a strong uptrend, demonstrating its ability to withstand market pressures. The consistent upward movement signals positive sentiment and investor confidence. Consolidation Period: After a consolidation phase lasting around 3 months, MIDHANI formed a classic rounding bottom structure. This pattern suggests a potential reversal from a downtrend to an uptrend and is often indicative of a bullish trend reversal. Breakout: Yesterday, MIDHANI successfully broke out of the consolidation range, confirming the validity of the rounding bottom pattern. This breakout is a powerful signal, indicating a shift in momentum and a potential start of a new bullish trend. Maintaining Strong Levels: The stock is currently holding above the breakout level, showcasing resilience and confirming the newfound bullish momentum. This stability is a positive sign for traders and investors looking for a sustained uptrend. Disclaimer: This post is for informational purposes only and should not be considered as financial advice. Always do your own research before making any investment decisions. Trading involves risks, and past performance is not indicative of future results.
NSE:MIDHANILong
by TTS007