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23 Aug ’23 Post Mortem on Nifty - India Lands on Moon 🌒🌓🌕Nifty also closed in the green today but did not have as much momentum as BankNifty today. The first divergence happened in the opening 1 hr where Nifty gave up 0.43% ~ 83pts even after having a gap-up opening. The real reasons for a gap-up opening was not clear as the Global hand-out was not that positive. Traders including me were looking for breakdown possibilities as the 5mts candles at 09.15, 09.25 and 09.50 had so much force. Since Banknifty started reversing the trend and was showing a breakout possibility, I did not adventure getting into shorts on Nifty50. Once the momentum was set by the breakout on BN, Nifty also caught up to it. There were still many sectors in red - Auto, Commodities, Consumption, Energy, FMCG, Pharma & Metal. This indicated that the rally in Nifty will not be as powerful as BankNifty. The reason I drew 2 bearish trend lines yesterday makes more sense today. If we go by the orange line - it means we already had a falling wedge breakout. If we go by the blue - we are yet to break it. Tomorrow’s opening minutes will give us the exact answer to that question. Personally I feel we are yet to break out and the blue line is more accurate. To have a real breakout, almost all the sub-sectors also has to be in green. Since Banknifty has already broken out, the probability has shifted into a similar trade direction for Nifty as well. I wish to change my stance from neutral to bullish for tomorrow. If the breakout fails or we hit the 19310 level tomorrow, I might have to fall back.
NSE:NIFTYLong
by viswaram
Nifty levels - Aug 24, 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!
NSE:NIFTY
by sacxe
Morning Mantra - 23rd August 2023Dear All, So the consolidation is still continued in the Market and in such a situation it becomes quite difficult to predict the next move. However, we still have the hope of 19300 as the level of support, while on the other side 19550 as the strong resistance level. Therefore, Cherry Picking and Portfolio Rebalancing are the only ways to sustain in such kind of a Market, as of now. Furthermore, over the last 2 days on the weekly chart of Nifty, we have observed a very impactful positive chart setup, while on the Day chart we can once again witness a Doji Formation. So, with fingers crossed we are hoping for the best. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTY
by alokdaiya
22 Aug ’23 Post Mortem on Nifty - stance remains NEUTRALYesterday we had a neutral stance for Nifty and a bearish stance for BankNifty. If you were watching every 5mts candle today, you wouldn't believe how we ended up getting Nifty at +0.01% and BankNifty down 8.75pts. Nifty makes a beautiful rounded top formation today, will wait for tomorrow to see if we get the cup & handle formation. As soon as the day started it was pretty clear that we will not have any major movements today. The reason being absolutely low options premium on FinNifty which had expiries today. Usually Finnifty (which is quite liquid these days) shows some excitement in options premium if a directional trend exists. And since it sucks out the liquidity from banknifty and nifty - we see jumps in their premiums as well (OTM). Since those jumps were not there today, we assumed it was going to be a flat day. Well the data did not disappoint - we did have a flat day, but the price action was nothing as expected. Never ever thought we will get a rounded top formation. If we look at the 1hr TF - we are still inside the falling wedge pattern. I just drew one more descending channel (orange color), the rationale being a few gaps in the prior session. See the blue circled regions, nifty failed to reach till the original trend line (blue color) in those instances. Do not worry, we will decide which one to keep by this Friday. I am continuing my neutral stance for Nifty50 for tomorrow. If we fall below 19260 tomorrow, I will go bearish. If we take out the 19460 levels - I will go bullish.
NSE:NIFTY
by viswaram
Nifty levels - Aug 23, 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!
NSE:NIFTY
by sacxe
Nifty Intraday levels 22/August/23Good Morning Traders, Yesterday Market has taken support in lower important support zone, and after that given a fruitful recovery, Well guy's until downward slopping channel did not got breakout till then we will just wander inside the descending triangle pattern. Yesterday American Market also has done good, Dow has recovered almost completely till day's end and Nasdaq given closing +1.56%. Today Asian Market looking mix to bullish. Let's see how our Market going to react in today's session. Important levels for Nifty:- #Important Support Zone 19255-19275 #Resistance Zone 19435-19455 Buy Above only 19446, if levels sustains at least for one hour. Targets we can see in upside 19522/19616+ Keep stop loss at 19385 And Sale Below only 19329, if levels sustains at least for one hour. Targets we can see in downside 19258/19196- Keep stop loss at 19385 Note:- Guy's if you see any reversal candlestick from downward slopping trendline then you can sale the nifty and same if you see reversal from support zone then do vice versa. Note:- Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction. Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou.
NSE:NIFTY
by TraderRahulPal
2
21 Aug ’23 Post Mortem on Nifty - stance corrected to neutralOn our last day’s report we discussed the possibility of Nifty staying above the 19309 levels. It was with great difficulty that we got a closing below 19309 on Friday, today we opened right there and then had a good rally till 19370 levels. Immediately we started reversing and fell below water by 10.10. The price action is similar to the 14.00 to 15.00 period. The change in stance did not come in the opening 1hr candle, thats because we did not have a perfect candle outside of the resistance line. From 10.15 - the path that Nifty took was magical, we rose 129pts ~ 0.67% from the day’s low to high with no real pullback till 15.00. The 2nd hourly candle gave the change in stance signal i.e from bearish to neutral. On the 1hr TF, Nifty is back in the falling wedge pattern (which is a bullish case). We need to wait for a perfect bullish signal - once we reach the convergence of the descending trendline and the horizontal support, it should break out. Bears have a case if they can bring down the prices below 19309 again and keep it there for another 1 to 2 days. My stance for tomorrow stands corrected to neutral from bearish.
NSE:NIFTY
by viswaram
Nifty levels - 22nd Aug 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!
NSE:NIFTY
by sacxe
Nifty Tradesetup for 21-08-2023nifty important levels to watch are as follows #Support: 19260 Sell below: 19260 only on 15 minute candle closure below the level. Target 1: 19190 Target 2: 19110 #Resistance: 19380 Buy Above: 19380 only on 15 minute candle closure Above the level. Target 1: 19480 Target 2: 19560 #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
2
Morning Mantra - 21st August 2023Dear All, As we had observed a Doji formation on the Day chart of Nifty on the last Friday. Likewise, fortunately we had witnessed a closing of above 19300 on Friday itself. However, overall the situation is still quite crucial as of now, since Nifty is finding difficulty and is not being able to reach and sustain above the level 19550. Therefore, in such a situation it is being very difficult to predict about the next move of the Market, as of now. But still we have the 2 important levels to consider, i.e., 19300 and 19550 on the upper side. Moreover, just as we had stated on the last Friday as well, similarly there’s a probability to witness some panic in the Market if in case Nifty breaks the level of 19300 on closing basis. So, in such a situation, following the Cherry Picking strategy will be a good idea here, also it will be better to keep Rebalancing the portfolio . Furthermore, for those who had already been rebalancing their portfolios at around the 20000 level, they can be suggested to partially accumulate in the Market following the Cherry Picking strategy as of now. Keep Trading! Keep Investing! Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTY
by alokdaiya
Nifty weekly analysis for 21/08/23.Nifty of consecutive four weeks have been forming a red candle and is making a support zone around 19250-300 levels. Market has tested another low this week but there is some buying happening around 19250 levels and it has been tested twice this week. On daily charts, market has formed another doji which signifies a confusion in the markets. Nifty has been trading below 20 ema. Nifty is around a crucial levels, if the support zone of 19250 is also breached then there are chances of market going to 18900-19000 levels as there is no support near by. On the hourly charts, there is a bearish moving averages cross over and market is taking serious rejection from 200 and 20 EMAs. Market is being volatile to sideways and there are chance of a trending market as it has been trading in a very small range. Support :- 19260, 19180, 19000 Resistance :- 19360, 19460 Gap up and gap down are limiting opportunities for an intraday trader. Watch markets carefully and let market decide the trend. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by TheMamboMomentum
Nifty - Analysis & Prediction - 21 to 25 Aug 2023Nifty Prediction for this Week: Indian Markets are in Down trend however there will be some correction. Nifty likely to test 19430 / 19500 level before it falls again and there is high probability that Nifty might test 18800 mark very soon. BULLISH trend can be expected only above 19570 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!!
NSE:NIFTYShort
by ViVenTraders
2
18 Aug ’23 Post Mortem on Nifty - 19309 support breached 🐻🐻🐻There was only 1 goal for the bears today, to close the markets below 19309. Somehow they got it done today which means we are in for a bear ride next week. Let me try to explain. We opened right at the 19309 level and then fell to 19258 levels by 10.45 in a show of strength by the bears. From there there was a reversal till 12.00 where we re-touched the 19309 SR zone. Leg 2 of fall was from 12.00 to 13.40 where we managed to re-test the 19258 levels. I was monitoring very closely to see if we will break this swing low and fall towards the 19186 levels. Instead we had a surprise rally of 111pts ~ 0.58% between 13.45 to 14.15. The news about RELIANCE-JIO shares getting listed on 21 Aug would have led to short covering. A move of +2.5% in RELIANCE is more than enough to spoil the technical analysis patterns & levels. Nifty ended up making a double bottom today at the 19258 levels and the surge of 111pts to go green would have worried many bears. I sure got rattled, I even thought a close below 19309 may not be possible. However the bears finally got their act together and ensured to push down the prices below 19309 levels. The fall below 19309 has just managed to negate a falling wedge or a descending triangle pattern. This is good for the bears as the mainline support is breached, which will open up the downside possibilities. The next goal is to take out the break-away gap that was created on 30th June. I wish to maintain my bearish stance for 21 Aug 2023, If we have a gap-up opening or a strong rally to take out the 19309 resistance - I might be forced to change the stance from bearish to neutral.
NSE:NIFTYShort
by viswaram
5