Cup & Handle - Nifty1. Yellow line act as support
Since it is connecting with previous
tops from where market got reversed
2. Exhaustion gap
3. Supply Level
4. Cup & Handle
Niftyview
Nifty daily analysis for 17/10/23.Nifty on the daily charts has formed an inside candle and closed flat forming a doji candle.
It consolidated in a narrow range of 60 points after the first hour candle. There were no movement in the index.
On the hourly charts, nifty traded around the 20 ema and closed between both the moving averages.
Markets are not giving any option buying opportunity in the market. It is consolidating and moving in a sideways trend after gap up or gap down opening.
The closing range of the market is getting smaller and a trending move can be seen in the coming days.
Support :- 19720, 19670
Resistance :- 19780, 19840
Nifty has not given a significant move in recent which is a good thing for a powerful break out or break down.
Wait for the price action near the levels before entering the market.
Nifty levels - Oct 17, 2023Nifty 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.
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Nifty Trade Setup for 16-10-2023Nifty important levels to watch are as follows
#Support: 19733
Sell below:19733 only on 15 minute candle closure below the level.
Target 1: 19680
Target 2: 19615
#Resistance: 19800
Buy Above: 19800 only on 15 minute candle closure Above the level.
Target 1: 19850
Target 2: 19915
=> # Remember each level will act as a support and resistance individually so there is a probability of reversal and a pullback on either side so its better to make an habit to book profits at each targets and re-enter again after a breakout from the same with a proper stoploss as per your own risk appetite.
=> # Please do your own research before initiating any trade. Always use stoploss in order to protect your capital.
=> #If you are Unable to trade properly and dissatisfied with your manual trading results due to psychological disadvantages or busy schedule or "Fear & Greed" emotions, then Algorithmic trading can be the most useful solution to overcome such problems. Kindly follow us and join us using details mentioned below the idea.
=> # Please refer our swing based support and resistance indicator if you find it useful give it a like.
=> # Follow us for more such information and educational ideas and Indicators. Give it a like if you appreciate the idea. Queries will be answered in comment section.
#Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
nifty 50 shortmacd divergence= check ✅
rsi divergence= check ✅
Broadening top pattern in the formation near support can take trade we might make new high like around 20500 last then drop for the bear of 2024
Defining Zone 19200-19900As suggested straddle was better option for Last 3 weeks
Thorough Options data Calls side seems to be heavy, there is change calls side open intrest, it has shifted towards lower side.
What is expected,
1. Restesting of support
2. Formation Lower Low
3. Remains sideways
If you have niftybees it should hold upto 18600
13th Oct ’23 - Unseen Double V shape - Nifty PostMortemNifty Analysis
Recap from yesterday: ”For tomorrow I wish to continue my bullish stance if 19776 support is respected. If that breaks in the morning session, I would like to change my stance to neutral. If 19671 level breaks in the forenoon session — I would definitely go short as we may fall below the double-top formation.”
Yes, you guessed it right by reading the title - I lost money both ways today. Firstly I went short because 19671 was broken. The short trade did not do well as we stopped falling. Secondly, we had a massive reversal - a total of 170pts intraday swing that really made my short position look like a sitting duck.
To start with, I did not expect we would have an opening candle swing of negative 147pts ~ 0.75%. Agreed that US markets were weak yesterday and INFY results disappointed. Guess what? Infy ended the day with just -2.34% loss. The rates pre-open showed was negative 4% opening on INFY would have really put the pressure on Nifty to have that deep-cut opening. But levels are levels and we traders respect that - I had no other option but to go short. The only mistake I made was not having a safe long position on the CALL side as protection. There again I never thought we would be rallying back to go-green and then fall back.
We had 2 V shapes today. The first reversal at 10.50 and the 2nd one at 14.25. I might have to test and find out what kind of trader made money today - A double V shape is normally not a Nifty50 phenomenon.
On the 1hr pattern, the first thing I would like to do is change my stance from bullish to neutral. We have broken the 19776 support today and well above the 19446 zone. For Monday I wish to go with the neutral trades only and go short if we fall below 19614 in the forenoon session. Till then I am eagerly watching how SPX will close the day today.
Nifty levels - Oct 16, 2023Nifty 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 Expiry Trade Setup for 12-10-2023Nifty important levels to watch are as follows
#Support: 19780
Sell below: 19780 only on 15 minute candle closure below the level.
Target 1: 19720
Target 2: 19640
#Resistance: 19840
Buy Above: 19840 only on 15 minute candle closure Above the level.
Target 1: 19880
Target 2: 19940
=> # Remember each level will act as a support and resistance individually so there is a probability of reversal and a pullback on either side so its better to make an habit to book profits at each targets and re-enter again after a breakout from the same with a proper stoploss as per your own risk appetite.
=> # Please do your own research before initiating any trade. Always use stoploss in order to protect your capital.
=> #If you are Unable to trade properly and dissatisfied with your manual trading results due to psychological disadvantages or busy schedule or "Fear & Greed" emotions, then Algorithmic trading can be the most useful solution to overcome such problems. Kindly follow us and join us using details mentioned below the idea.
=> # Please refer our swing based support and resistance indicator if you find it useful give it a like.
=> # Follow us for more such information and educational ideas and Indicators. Give it a like if you appreciate the idea. Queries will be answered in comment section.
#Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
#October13 directions and levels for Nifty"Good morning, friends! As of October 13th, global market sentiment is negative, as indicated by the Dow Jones. However, our market trend is moderately bullish. It may open with a significant gap down. After that, if it is rejected around the immediate support zone, we can expect a ranging market. On the other hand, if it breaks the immediate support zone, then the correction is likely to continue. If there are any changes, I will inform you during the mid-market update."
Will Nifty Bounce Tomorrow on 13 Oct ?Today's expiry played its role well and in the closing hours it gives a good indication for the intraday players.
Technical Data:
Momentum - Positive
Heikin Ashi - Positive
MA Bullish Cross - Positive
Macd Histogram - Positive
All these positive signs indicate a bounce for the intraday traders.
Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
Thanks
Er. Simranjit Singh Virdi
12th Oct ’23 - A perfect Flat day of trade - Nifty PostMortemNifty Weekly Expiry Analysis
Nifty went up 236pts ~ 1.21% between the last expiry and today. The major highlight was its capability to defend the support of 19446 and then breach the resistance of 19776. Today we even retested the support of 19776 and it held and may pave the way for further upmoves.
Nifty Today Analysis
Recap from yesterday: “We had a perfect island day today above the resistance level of 19776. My bullish view continues and the next level to watch out for will be 19901 which was tested on 11th and 20th Sep. It just took 2 days to recover from the fall we had due to war — sometimes I think we have not priced in the real impact of it.”
This was the day today - a perfect flat day. If yesterday’s price action is taken into consideration it shows a good continuity. The pre-open showed more bullishness but except for the gap-up we did not have any bullish momentum today. My long call for today did not yield any results. I do not see a bearish intent - we tried breaking the support of 19776. Even the 19800 psychological level was showing good stability just like yesterday.
On the 1hr TF, I still do not see the reason to abandon my bullish stance. I agree that the 19899 level was not taken out today. But the support of 19776 did not break either. It also makes sense for Nifty to rest after the Tuesday and Wednesday climb. For tomorrow I wish to continue my bullish stance if 19776 support is respected. If that breaks in the morning session, I would like to change my stance to neutral. If 19671 level breaks in the forenoon session - I would definitely go short as we may fall below the double-top formation.
Nifty daily analysis for 13/10/23.What a weekly expiry this has been?
Nifty on the weekly expiry remained a 50-60 points range and closed 19 points lower.
On the hourly charts, the market remained in the first hour candle and closed above both the moving averages.
Today expiry was for option seller and total time decay was the gain as there was no opportunity for the option buyer.
On 15 minutes charts, it traded around the 20 ema and closed just below the levels.
Support :- 19770, 19720
Resistance :- 19840, 19900
Wait for the price action near the levels before entering the market.
Nifty levels - Oct 13, 2023Nifty 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!
Confluence of Fib and center of Parallel channelNIFTY is currently getting rejected from the level that formed due to a confluence of 0.382 level of Fib and the center of the parallel channel.
It will be interesting to monitor price action for few days to see if rejection continues or it breaks and goes above it.
#October12 direction and levels for Nifty"Good morning, friends! As of October 12th, global market sentiment is slightly positive, as indicated by the Dow Jones. However, our market trend is bullish. It may open with a gap-up. After that, if it breaks the previous day's high, we can expect sub-wave 5. It's a distribution wave, so the structure is important. If the breakout structure is solid, then we can anticipate a rally continuation with minor consolidation. We can expect a correction only if it reaches the immediate resistance level with minor pullbacks, at which point we can complete the 5th wave and anticipate a correction. On the other hand, if the gap-up doesn't sustain, sub-wave 4 may likely continue."
Nifty future chart analysis for 12.10.202319893 strong resistance if price takes resistance here you may see another sideways.
crossing above 19893 will provide price a strong upward movementand it may easily reach
19957 and may retest or cross pass 20k.
19815 (Strong Support if takes support here go long and follow levels)
below 19815 it may little week , but 19765 is another strong support
you may short below 19815 (Chance of false breakout is high) but you
can long from 19765 if it takes support.
11th Oct ’23 - Nifty Cuts Through the Resistance - PostMortemNifty Analysis
Recap from yesterday: “On the hourly chart — India replies with 5 white soldiers to the war news (3 white soldiers means 3 strong green candles). We have not taken out the 19776 resistance so far — but we are pretty close. I wish to change my stance from neutral to bullish with the first target of 19776 and the 2nd target of 19847.”
Nifty continuing from the good form it picked up from yesterday, we opened gap-up of 76pts and then went on to take out the resistance line of 19776. The low formed in the opening 5mts was not broken showing how powerful the bulls were. We rallied another 71pts to hit a high of 19839. Interestingly Nifty did not fall or retrace from these high levels. The 19800 level was proving tough to break.
We had a perfect island day today above the resistance level of 19776. My bullish view continues and the next level to watch out for will be 19901 which was tested on 11th and 20th Sep. It just took 2 days to recover from the fall we had due to war - sometimes I think we have not priced in the real impact of it. Crude oil if it remains elevated will prove to be such a disaster for us as we are importers.
Nifty weekly expiry analysis for 12/10/23.Nifty held on to the higher levels while banknifty gave away the points after a gap up opening.
It gained some points after a gap up opening and consolidated after the first hour move in a 50 points range whole day.
There is a bullish moving averages cross over, on the hourly charts, closing above both the moving averages.
On 15 minutes time frame, market took support from the 20 ema and has closed above it.
Tomorrow is nifty weekly expiry and it has closed around higher levels. There are chance of another gap up as the closing suggest.
Support :- 19770, 19720
Resistance :- 19840, 19900
Nifty is showing positive sentiment in Indian market and can retest the recent high in coming weeks.
Wait for the price action near the levels before entering the market.
Nifty levels - Oct 12, 2023Nifty 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 Trade Setup for 10-10-2023Nifty important levels to watch are as follows
#Support: 19480
Sell below: 19480 only on 15 minute candle closure below the level.
Target 1: 19445
Target 2: 19385
#Resistance: 19540
Buy Above: 19540 only on 15 minute candle closure Above the level.
Target 1: 19580
Target 2: 19640
=> # Remember each level will act as a support and resistance individually so there is a probability of reversal and a pullback on either side so its better to make an habit to book profits at each targets and re-enter again after a breakout from the same with a proper stoploss as per your own risk appetite.
=> # Please do your own research before initiating any trade. Always use stoploss in order to protect your capital.
=> #If you are Unable to trade properly and dissatisfied with your manual trading results due to psychological disadvantages or busy schedule or "Fear & Greed" emotions, then Algorithmic trading can be the most useful solution to overcome such problems. Kindly follow us and join us using details mentioned below the idea.
=> # Please refer our swing based support and resistance indicator if you find it useful give it a like.
=> # Follow us for more such information and educational ideas and Indicators. Give it a like if you appreciate the idea. Queries will be answered in comment section.
#Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
#october11 directions and levels for Nifty"Good morning, friends! As of October 11th, global market sentiment is slightly positive, as indicated by the Dow Jones. However, our market trend is bullish. It may open with a gap-up. After that, if the gap-up sustains, we can expect a rally continuation with minor consolidation. We can expect a correction only if it rejects the major resistance levels. On the other hand, if the gap-up doesn't sustain, we can expect 'sub-wave 4,' which may take a maximum of 23 to 38% Fibonacci correction."
10th Oct ’23 - India sends 5 white soldiers to the war - NiftyNifty Analysis
Recap from yesterday: ”For true bearishness 19350 or the recent swing low has to be taken out tomorrow. Well, I have a bearish bias because of the LONG PUT option — but the charts are not showing anything so far. If we bounce back from the 19446 level tomorrow also — I may be forced to close out the position at a loss. For tomorrow I would like to go with a 50% neutral and 50% bearish option. Nifty is not technically weak — it is the global macro that is weak. “
Nifty does a gap-up open today and then rallies a total of 109pts in the opening candle w.r.t previous day’s close. This also ensures that yesterday’s swing high is not broken on the downside from the 2nd candle onwards. Till 11.35 Nifty showed no special signs of directional movement but once the 19620 levels were broken - it started climbing ferociously. Can you believe we shot up another 106pts ~ 0.54% to negate yesterday’s price action as well as take out the swing high of 6th October.
Yesterday looked like a blip, remember our Friday’s plan - “Go long”. We are there now. What these 2 days did was to take out my stop losses both ways. My long stop loss was taken out yesterday and the short stop loss was taken out today.
On the hourly chart - India replies with 5 white soldiers to the war news (3 white soldiers means 3 strong green candles). We have not taken out the 19776 resistance so far - but we are pretty close. I wish to change my stance from neutral to bullish with the first target of 19776 and the 2nd target of 19847. In case we lose the momentum tomorrow - we will still be range-bound unless the bottom support is broken.
