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16 Aug ’23 Post Mortem on Nifty - Are the bears still alive?Last session we discussed the support level of 19311, this came into play today and proved quite hard to breach. Today’s intraday low 19317 was hit in the first candle itself after a gap down opening. The biggest negative news to start the day was the higher than expected 7.44% CPI inflation that came after market hours on 14th Aug. Also the SPX and NDQ also closed lower than 1.16 to 1.1% - this also should have influenced the gap down today. The data that came from China - was bad and a leading indicator to what a deflationary, illiquid & rising unemployment looks like. I personally felt we might breach the support and close lower than 19146 today. But the resilience and perseverance shown by the dip buyers (bulls) were phenomenal. We rallied back 163pts ~ 0.85% to close the day in green. Pretty much frustrating if you are a bear. This market is quite hard to crack. The rally also ensured we went above the swing high of last session showing further positiveness. If we look at the 1hr TF - the double bottom @ 19311 stands strong, and the bearish trend line is converging. Till date the tops Nifty has made has respected the trend line - this could also mean the falling wedge pattern could hold true. If yes - its a bullish pattern and we could have a trend reversal soon. The only way bears can regain control is to break the support of 19311 immediately, preferably tomorrow 17th Aug. Seriously I was screening the news to find out why Nifty rallied even in spite of bad news - one event I saw was the “CABINET APPROVES 63000 CR RUPEES FOR EV BUSES SCHEME” tweet. But seriously building an industry on subsidy & incentive is syphoning out tax payer money & destructive to existing industries. I am revising my stance from bearish to neutral, will shift to bearish if 19311 breaks tomorrow for good.
NSE:NIFTY
by viswaram
Nifty Tradesetup for 16-08-2023Nifty important Intraday levels to watch are as follows #Support: 19400 Sell below:19400 only on 15 minute candle closure below the level. Target 1: 19350 Target 2: 19287 Target 3: 19210 #Resistance: 19480 Buy Above: 19480 only on 15 minute candle closure Above the level. Target 1: 19560 Target 2: 19640 #Demand Zone: 19290-19310 may act as a immediate buying zone, and price may bounce from the region marked in green on the chart. #Supply Zone: 19455-19480 may act as an immediate selling zone, and price may reject from the region marked in red on the chart. #Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital. Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
NSE:NIFTYShort
by InvestyourAsset
#nifty"Good morning! As of August 16th, the global market sentiment is negative (based on the Dow Jones alone), while the market trend is moderately bullish. The market might start with a gap-down. After that, if the market takes a pullback around the immediate support zone, we can expect a minimum 38% pullback. If it breaks the immediate support zone, then the correction will likely continue. On the other hand, if the decline doesn't break yesterday's low, it might turn into a range-bound market."
NSE:NIFTY
by Manickamtraders
Morning Mantra - 16th August 2023Dear All, So once again we had witnessed the significance of 19300 level on Monday itself. As after making a low of around 19257 during the day, the Index ultimately gave us a positive closing of around 19434. Well now we can observe a bullish reversal pattern, named as Hammer, on the Day chart setup of Nifty. So, we are now expecting a bounce back from the current levels. Whereafter, if Nifty takes a support at this level and manages to gives a positive closing of above 19550, then we will be in an aggressive buying mode. Otherwise, until then, we will have to wait and watch for either a breakout of above 19550, or a breakdown below 19300 on closing basis. In the meanwhile, it will be better to keep Rebalancing the Portfolio. Besides, as per the chart of BankNifty, we can now observe the perfect formation of a Doji Pattern. For which, just like we always say - “A Doji Formation on the chart and a Fauji (soldier) on the Border is quite indicative of a safer zone for the Bulls”. So, as of now there’s a symbol of Reversal on the chart of BankNifty as well. However, here again it will be better to wait for an either side movement, i.e., a breakout of above 44444 and a breakdown of below 43800 on closing basis. Keep Trading! Keep Investing! Regards , Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
#nifty"Good morning! As of August 14th, the global market sentiment is neutral to slightly negative (based on the Dow Jones alone), There is no significant difference from the last session. While the market trend is bearish. Therefore, there might be a start with a minor gap-down. After that, if the market takes a pullback around the immediate support zone, we can expect a minimum 38% pullback. or if it breaks it(immediate support zone), then the correction will likely continue. On the other hand, if the initial market shows a positive start, we can expect a ranging market."
NSE:NIFTY
by Manickamtraders
Morning Mantra - 14th August 2023Dear All, First of all, wish you all a very Happy Independence Week and a Week of Financial Azadi. Furthermore, we are expecting that for this trading week as well we can witness a sideways momentum in the Market. So, we will have to wait and watch for a clear cut indication, i.e., either a breakout of above 19550 or a breakdown of below 19300. Most probably this week can be a crucial one for the Market, as due to a holiday on the 15th of August, this week consists of 4 Trading Days only. So, as of now, it is better to keep Rebalancing the Portfolio and keep following the Cherry Picking strategy, as even in the previous week we had got to observe a lot of stock specific momentum in the Market. Keep Investing! Keep Trading! Regards , Alok Daiya SEBI Registered Research Analyst
NSE:NIFTY
by alokdaiya
Nifty weekly analysis for 14/08/23.Nifty is taking a retracement and on the weekly charts have formed an inside candle. The market took a retest to 50% fibonacci levels and recovered. Trend is still bullish as the major trend is in the upward direction and this might be just a retracement. Though the market is stuck in a small range and there are chance of a breakout in the upcoming week. The market has closed below the 20 ema on daily charts, which signifies some bearish trend in the short term. Directional market is not there as it is behaving in a volatile and sideways mode. On the hourly charts, there is a formation on lower low lower high and market is following a bearish trend. Nifty has closed below both the moving averages and is now standing around 19400 levels. In the first trading hour market took resistance from 20 ema and closed even below the 200 ema, traded around it and finally formed an evening star taking resistance from the levels. On 15 minutes time frame, the closed is below both the moving averages and the market still looks bearish. Support :- 19300, 19185 Resistance :- 19500, 19580 The market has closed just below the support level and another support is 100 points lower. If market starts trading below previous day's low, bearish move will be there. Gap up and gap down opening will take the opportunity away as it will be stuck in a range. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
nifty TradeSetup For 11-08-2023Nifty important Intraday levels to watch are as follows Expectations: Trending day #Support: 19520 Sell below: 19520 only on 15 minute candle closure below the level. agressive sell below demand zone. Target 1: 19470 Target 2: 19380 #Resistance: 19560 Buy Above: 19560 only on 15 minute candle closure Above the level Target 1: 19630 Target 2: 19690 #Demand Zone: 19470-19490 may act as a buying zone and price may bounce from the region marked in green on the chart. #Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital. Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
NSE:NIFTY
by InvestyourAsset
11 Aug ’23 Post Mortem on Nifty Full Short, But VIX disappointsThe first 5mts candle today had a swing range of 0.34% ~ 66pts but this did not drive up the OTM premiums. The majority of traders have forgotten what fear was like. India VIX was up 2 to 3% then and still in the 11.5 range. The complacency has gotten into the traders so deep that they think some dip buyers will come in and rally the markets by closing hour. Today we did not witness that, Nifty50 for a change did not see dip buyers in the last hour. Instead the selling was intensifying. Even then - there is no fear, in fact VIX closed with just a 1.07% gain. As I write this article, US VIX is 15.78 and SPX is just 3.23% down from the 52 week highs. Also now could be the best time for the big bears to enter the market as the valuations & prices are lofty and they get good meat! Glad yesterday’s short call worked out, but nothing to be proud of as 19296 (recent swing low) was not taken out. We did not even get near it today. You might be thinking I am pessimistic about Indian stock markets and a permabear - the reality is I am not. There is a severe disconnect between the stock valuations and the actual economy. I will try to publish the research “Why a full blown depression is a blessing for the poor '' by this weekend. The prices of day-to-day essentials are so high that low income households are slipping into poverty. Stock markets reflect the rich, not the poor. The broader economy can remain down and stock markets up for a long period of time, its just euphoria. But what bends usually is the stock price! On the 1hr TF, Nifty50 has fallen back below the bearish trend line. We will continue to go short till this status quo holds. The first target to take out will be the recent swing low of 19296. The next support comes at 19190.
NSE:NIFTYShort
by viswaram
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. 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"Good morning! As of August 11th, the global market sentiment is neutral to slightly negative (based on the Dow Jones alone), while the market trend is moderately bearish. Therefore, there might be a start with a minor gap-down. After that, if the market takes a pullback around the immediate support zone, we can expect a minimum 38% pullback. or if it breaks it(immediate support zone), then the correction will likely continue. On the other hand, if the initial market shows a positive start, we can expect a ranging market."
NSE:NIFTY
by Manickamtraders