Nifty levels - Jan 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.
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NIFTY prediction for tomorrow 15 JAN 24As we discussed, NIFTY would be "Sideways unless it breaks the range to either side." on Friday, it broke to the upside and gave a really nice bullish rally. People who Bought CE or sold PE might have made good money.
For tomorrow all important levels have been marked on the chart.
If we look right now, it's trading ALL-TIME-HIGH, which might lead to a 22,000 target. If we see the charts, we are on the way to touching the resistance trendline. Once it reaches there, it will face resistance.
GIFTNIFTY is already showing 21975 closing in the last session. The upper range to go nifty is 22100. So, I expect it to go up and then from 22100 settle down.
If we see OI data PCR = 1.40 which shows highly bullish indications for upcoming sessions. 22000 is having significantly good resistance level lets see how the price action behave there.
MAX Pain for now is 22000.
Tomorrow it might open gap-up and then reach 22100 and then correct for some points that might lead to a sideways market too.
Reasons:
Price > EMA(13,50,200) which shows price have strength. The bulls are in control. (Bullish)
EMA(13,50) crossover shows bullishness in the Market.
RSI is above 60, which means it's in the Bullish zone. RSI is showing good strength in trend.
OI data PCR = 1.40, which is highly bullish. It's a very good sign of bullishness.
VWAP > > Price shows that the price is not volume balanced. It's obviously bullish. But if it goes further, you have to correct some points to get balanced.
The Market is continuously making HH and HL. Shows very good strength of the trend.
Verdict:
Bullish
Plan of action: Wait for 15 min Candle; and then make position based on price action levels marked on chart.
Nifty levels - Jan 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!
#Nifty directions and levels for JAN 12.#Nifty
Good morning, friends! Here are the directions for January 12th: The global market sentiment is moderately bullish, supported by the Dow Jones, while our local market sentiment shows a moderately bearish trend. It might open with a neutral to slightly gap-up start, as indicated by Giftnifty showing a +25.
Nifty has progressed in sub-wave 4th (motive wave). So, if it opens with a gap-up, we can consider that as the beginning of the 5th wave. It may reach 21,760; after that, if it rejects sharply, then we can complete the 5th wave and anticipate the correctional (ABC) wave. This is the basic structure; however, if the market sustains or consolidates around 21,760, then the 5th might extend.
Bearish aspect: As per the long picture, it's a diagonal triangle, so if the gap-up doesn't sustain, then the diagonal triangle might continue.
Nifty Intraday Trade Setup | 12th Jan '24Today Nifty opened with a gap up around 21700 and we booked profit in BTST trade we took yesterday. Nifty faced rejection at 21725 which was a strong resistance zone and we got a good fall in morning towards 21640 which was our buy level for today.
For tomorrow, if Nifty sustains below 21590 we expect to see more downside towards 21550 and below marked levels. On the down side, Nifty has to break 21725 for further upside towards 21760 and upper marked levels.
Our biased it bearish and we are looking for fall tomorrow below 21590.
Expectations: Volatile Day
Intraday Levels:
Buy Above - 21725
Sell Below - 21590
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India
NIFTY prediction for tomorrow 12 JAN 24As we discussed, Nifty has been moving in a sideways range-bound market in the range of 21500 and 21750. also, today, it took very nice support from 200 EMA and activated buyers. But once it's moving in the range, it could not be better for option buyers. Right now, the only you can do is option selling with IRON CONDOR.
If we look at OI, we can see PCR = 0.7, which is leaned to the bear side.
The market has shown a bearish structure this whole week. There are higher chances to break it to the downside.
If it breaks to the downside, I am expecting it to fall nicely; otherwise, I will be playing range-bound for Selling options.
Also, the market has formed an insider candle on the day's time frame. Unless this insider candle is cleared, I am expecting it to be range-bound between 21500 and 21750.
Reasons:
Price > EMAs shows the market still has a good bull control. (Bearish)
RSI ~ 50 increasing means bulls are trying to get the market to go up. But still RSI = 40-60 means still sideways. Once it breaks to RSI(60) upside, We can expect a nice bull move. (Bearish)
If we see OI 21650 and 21700 have a huge resistance wall, it means huge CE writing at those levels. (Bearish)
21600 is MAX PAIN. If it breaks to the downside, a good fall can be seen in nifty till the level of 21120. (Bearish)
Verdict: Sideways unless breaks the range to either side.
Plan of action : Right now, you can go for IRON CONDOR. for range 21500-21750.
OR
Sell 21750 CE and sell 21500 PE (Hedge with 15rs PE and CE)
Nifty levels - Jan 12, 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!
#Nifty directions and levels for JAN 11th.#Nifty
Good morning, friends! Here are the directions for January 11th: The global market sentiment is moderately bullish, supported by the Dow Jones, while our local market sentiment shows a moderately bearish trend. It might open with a neutral to slightly gap-up start, as indicated by Giftnifty showing a +20.
Nifty is progressing within the bullish triangle pattern. So, if the market sustains the gap-up, then we can expect pullback continuation with minor consolidation. We can expect a correction only if the market rejects the immediate resistance level with a 38% retracement.
Nifty - Intraday levels & Prediction for 11 Jan 2024Nifty Prediction for Tomorrow
Nifty Trading in Range, however the trend is slowly changing to BEARISH side. We can expect good fall tomorrow.
Look for Buy/Sell at Demand and Supply zone for profitable trades.
Demand and Supply Zones - When price breaks the zone, Demand zone will become Resistance and Supply zone will become Support.
Refer the chart for detailed Intraday Support and Resistance levels.
Happy Trading!!
Nifty weekly expiry intraday levels for 11/01/24.Nifty is still holding on to the crucial support of 21500.
There is volatility in the market and chances are it will remain in the area until is trades outside 21500-21800 range.
Tomorrow is weekly expiry of the index and if the volatility remains the same avoid trading.
Major support :- 21500, 21420, 21300
The last hour recovery is creating confusion whether down trend is confirmed or not.
Bullish trades should only be entered once the ATH is taken out. Early entry can be created with a proper R:R ratio.
Wait for the price action near the levels before entering the market.
Nifty Intraday Trade Setup | 11th Jan '24Today Nifty opened flat and we saw a sharp down move towards 21450 but it didn't sustain below 21470 which was our sell level, after consolidating near 21500 - 21470 support zone we saw a good rally in afternoon session.
For tomorrow, if Nifty sustains above 21640 we expect to see upside towards 21680 and upper marked levels. On the down side, Nifty has to break 21450, which can take Nifty towards 21410 and lower levels. Range is bigger for tomorrow in Nifty weekly expiry, trade cautiously.
Expectations: Volatile Day
Intraday Levels:
Buy Above - 21640
Sell Below - 21450
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India
Nifty levels - Jan 11, 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!
Nifty Analysis For Today 10 January 2024In this video, we'll discuss about Today's Market Analysis in Nifty and other segments too. Also will Discuss about Option Chain.
Whether you're a seasoned trader or just starting in the stock market, this video will help you in Learning about Market. Let's get right into it!
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Disclaimer : All views and charts shared in this video are purely for knowledge and information purposes only. Trading is Very Risky Business and it should only be done with proper Knowledge. It is very important to do your own analysis before making any investment based on your own personal circumstances.
#Nifty directions and levels for JAN 10."Good morning, friends! Here are the directions for January 10th: The global market sentiment remains moderately bearish, supported by the Dow Jones, while our local market sentiment reflects a similar trend. It might open with a neutral to slightly gap-down start, as indicated by Giftnifty showing a -45.
Nifty exhibits a triangle structure. If it finds support around 21500 or the demand zone, we can anticipate a pullback. This pattern suggests a breakout followed by a pullback wave, although confirmation signals are advisable. If the upcoming pullback breaks the Fibonacci level of 38%, we might consider it a minor reversal, with a target set between 61% to 78%.
Conversely, if it fails to find support or breaches the demand zone at 21466, the correction will likely continue."
Nifty Intraday Trade Setup | 10th Jan '24Today Nifty opened with a gap-up, after consolidating it triggered a buy trade above 21640 and made a high around 21724 which was near to our final target. In second half we saw the rejection which was expected and a sharp fall of more than 200 points from a day high in Nifty towards 21517.
For tomorrow, if Nifty sustains below 21470 we expect to see more downside towards 21430 and below levels. On the upside, Nifty has to break 21645, which can take Nifty towards 21675 and higher levels as marked on the chart.
Expectations: Volatile Day
Intraday Levels:
Buy Above - 21645
Sell Below - 21470
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India
NIFTY prediction for tomorrow 10 Jan 24As we discussed, Nifty has been moving in a sideways range-bound market in the range of 21500 and 21750. right now, it is on a support line. If it breaks to the downside, it can achieve a nice bearish target. But as we can see, it had formed an insider candle in the time frame. According to the OI data, PCR is 0.65 overall. The market has shown a bearish structure for the past 3 days. There are higher chances to break it to the downside. If it breaks to the downside, I am expecting it to fall nicely; otherwise, I will be playing range-bound Selling options.
Reasons:
Price < EMAs shows the bearish market. If it falls, a good target can be achieved. (Bearish)
RSI has dropped to the bearish zone (<40), which shows very weak bulls in the market. (Bearish)
OI data shows PCR = 0.65, which is assumed to be the bearish market condition. Today, CE was added in large quantities, which can be seen in the daily OI change. There is a huge CE writing on levels 21600, 21650, and 21700. (Bearish)
21500 is MAX PAIN. If it breaks to the downside, a good fall can be seen in nifty till the level of 21120. (Bearish)
At the time of fall, volume is quite high today, but once it came to support a good volume of CE unwinding (Bearish)
Verdict:
Bearish
Plan of action:
Bearish if it Breaks the 21500 level to the downside; otherwise, wait for PA at 21500.
Note: PA = Price Action
09 Jan ’24 — For a moment we thought the bearish had vanishedNifty Analysis - Stance Bearish ⬇️
Recap from yesterday: “The breach of the upper trend line of the ascending channel is quite visible in the higher time frame. Ideally, it is not a pure bearish signal as we are technically still in the bull market. We are changing the stance to bearish from neutral for the ultra-short-term only. If Nifty50 manages to crawl back up the top line — we will have to reverse the stance to neutral.”
4mts chart link
Why did we really gap-up 144pts today? Was it because of the US markets which closed in strong green yesterday? Seriously we do not see any other reason and what it did was to scare the bears. The bears who had shorted 21500, 21600, and 21700 CE were on their toes today, shocked by the gap-up followed by a rising price action till 12.35.
The real deal was to watch the top line of the channel - N50 did not have enough power to surpass it and the longer it stood there, it was easier for the bears to regain control. We then fell a whopping 205pts ~ 0.95%. Even though we did not close in the RED, the price action in the afternoon rhymed with yesterday's bearish call.
63mts chart link
Interesting price action formed at the current levels. Seems like where we are right now is a crucial support/resistance zone that could decide the next trend. Our call of bearishness will continue until N50 can break through the channel top line.
Nifty weekly levels for intraday trading 08/01/24.Weekly candle is a doji and has closed near the previous candle close.
Nifty is in a bull run. There will be some movement around the ATH of the market.
It has closed just 20 points lower on the weekly charts.
61.8% fib levels is still around the daily close. The market has been consolidating and can continue to consolidate.
Major upside resistance :-21820(ATH)
Supports are ther in the market around :-21640, 21585
A downtrend will be confirmed only once the market starts closing below 21500 levels.
The last hour candle is showing positive sentiment and trade only on price action with calculated risk.
Nifty levels - Jan 10, 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!
Nifty Intraday Trade Setup | 9th Jan '24Today Nifty opened with a gap-up and after making a high around 21760 we saw a good selling from upper levels. Nifty triggered our sell level 21630 and hit all the targets on downside.
For tomorrow, if Nifty sustains above 21640 we expect to see more upside towards 21670 and upper levels. On the downside, Nifty has to break 21490 to open more lower targets as marked on the chart.
Expectations: Volatile Day
Intraday Levels:
Buy Above - 21640
Sell Below - 21490
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India
#Nifty directions and levels for JAN 9th."Good morning, friends! Here are the directions for January 9th: The global market sentiment remains moderately bearish, supported by the Dow Jones, while our local market sentiment reflects a similar trend. It might open with a gap-up start, as indicated by Giftnifty showing a +120.
If the gap-up sustains, our minimum target is 38%. Should it break, a pullback is likely to continue, reaching levels of 50% and 61%. On the other hand, if it rejects around 38% or the gap-up doesn't sustain, we can expect a correction. Continuation will only occur if it breaks the immediate support level."
Nifty Intraday Trade Setup | 8th Jan '24Today Nifty opened with a gap-up above 21700 which was our buy level, and remained in the range until 10:30 am. Nifty broke it's range on the downside, and we took Sell trade on the breakdown which gave quick 30 points profit.
For Monday, until Nifty cross 21800 we are not comfortable in buying as there are multiple resistances in 21750 - 21800 zone. Let Nifty sustain above 21800, we expect to see some upside towards 21830 and upper marked levels. However, for further rally 21850 is the deciding level, once it's crossed we expect to see 250 - 350 points fast up move.
On the downside, once Nifty sustains below 21630 which is today's low we may see further downside towards 21590 and below marked levels on the chart. To break the current uptrend, Nifty has to sustain below 21500 which is critical level on the downside.
Expectations: Volatile Day
Intraday Levels:
Buy Above - 21820
Sell Below - 21630
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India