Nifty Support and Resistance Analysis for 19-DEC-2023Attached is the Nifty chart showcasing key support and resistance levels alongside the CPR for both daily and weekly timeframes.
Support and Resistance Levels: The chart highlights significant support around the 21308 mark and notable resistance at 21515 and 21604. These levels have demonstrated consistent importance in recent sessions.
CPR: Daily and weekly CPR are essential in understanding potential intraday reversals and weekly trend confirmations.
Disclaimer: This analysis is for educational purposes and should not be considered financial advice. Market conditions can change rapidly, impacting support/resistance dynamics. Always perform your analysis and risk management before executing any trades.
Pivot Points
SIEMENS BO [DAILY]SIEMENS BO on daily charts, huge volumes today, price has moved above a pivot as well. This might act as a new support moving ahead. Earnings strength is decent and buyers are looking to get in here as charts can show a v-shape curve, has move quite well to be honest.
Keep in the list for the remainder of the week.
JUBLPHARMA BO [Weekly]First day into the week and JUBLPHARMA not wasting anytime, on track to beat average volume and gain price ahead.
Keep in list for the week, Pharma sector has been a bit hot for the past month, only risk here is if the broader market goes in correction then the stock might shakeout.
NIFTY 18 DEC:MONDAY LIVE MARKETHas opened flat and taking support from 21390.00 has sustained above 21390-21400
1.Till now has been a sideways market,may be some cooling after a strong trendy bullish week.
2.If Bank Nifty also start trading above 48000 again,can expect also a bullish momentum in Nifty.
3.If able to sustained above 21425.00,quite possible that 21515/21527 may be seen upside, with intraday immediate support 21385-21395,21364 day's low
VIPIND BO [DAILY]VIPIND came in the screeners recently as volumes have been attracted here. Giving a minor BO here, 21/50 DMA cross would be good if it follows up from here.
Stocks relative strength is still poor but the way volumes have come here these last days, it seems like a reveral.
Keep an eye out for this ahead.
YESBANK BO [DAILY]YESBANK BO with volumes, large base formed.
You know the buyer interest is serious when weaker names like YESBANK are showing strength and breaking out of large bases.
Banking is getting some serious investors now looks like.
Keep on the list with other previous names shared : SBIN and ICICIBANK
GLAXO BO [Weekly]GLAXO showing good volumes these past few weeks and price has followed it quite well.
Its breaking out of a large weekly base (80+ weeks), lets see if this follows the large BO trend.
Chart suggests clear buyer interest here, This BO pivot level can be taken as the next support here.
TCS BO [Weekly]TCS BO on weekly charts, Long weekly base. Fundamentally strong in IT index. Volumes are there as well.
Many Large IT names coming in 1 month momentums near pivot points.
Nifty IT Index ETFS might also be a decent proxy play if one wants exposure to all these strong IT names together.
WIPRO BO [Weekly]Another Long Base BO of 60+ weeks. And that too in IT sectors. CNXIT is talk of twitter for now. IT names had to pop up.
As always, volumes -> Check, Price appreciation -> Check, Long base BO -> Check
Fundamentally, it hasn't been at its best, but has handled last few quarters well.
Let's see if the IT story is actually in a turnaround in these market conditions. Keeping in watchlist.
TINPLATE near BO [Weekly]TINPLATE is near a long weekly base BO. In my experience, Long weekly base BOs are highly successful BOs and one should keep an eye out for that.
Fundamentally firm has had a good last quarter, but previous quarters before that were not good. So this might be a turnaround play fundamentally.
Came in 1 Month Momentum Screener. Keep in list to see if BO happens ahead with volumes.
Market is healthy for now as per breadth indicators.
VRLLOG BO [Weekly]VRLLOG BO on a weekly timeframe. It did break out from a large weekly base previously but then broke down. Last 3 weeks it has broken both level as indicated on the chart and this week it gave good volumes as well.
Came up in screen for 1 Month momentum, lets see how this rolls further.
Fundamentally stock hasn't given good quarters recently. So not sure about this as a high rated pick.
Bank Nifty Support and Resistance Analysis for 18-DEC-2023Attached is the Nifty chart showcasing key support and resistance levels alongside the CPR for both daily and weekly timeframes.
Support and Resistance Levels: The chart highlights significant support around the 47749 and 47567 mark and notable resistance at 48379. These levels have demonstrated consistent importance in recent sessions.
CPR: Daily and weekly CPR are essential in understanding potential intraday reversals and weekly trend confirmations.
Disclaimer: This analysis is for educational purposes and should not be considered financial advice. Market conditions can change rapidly, impacting support/resistance dynamics. Always perform your analysis and risk management before executing any trades.
Nifty Support and Resistance Analysis for 18-DEC-2023Attached is the Nifty chart showcasing key support and resistance levels alongside the CPR for both daily and weekly timeframes.
Support and Resistance Levels : The chart highlights significant support around the 21300 and 21200 mark and notable resistance at 21600 and 21644. These levels have demonstrated consistent importance in recent sessions.
CPR : Daily and weekly CPR are essential in understanding potential intraday reversals and weekly trend confirmations.
Disclaimer: This analysis is for educational purposes and should not be considered financial advice. Market conditions can change rapidly, impacting support/resistance dynamics. Always perform your analysis and risk management before executing any trades.
NIFTY: 15 DEC Yesterday,after opening big gap up above 21018 if any bearish set up would have been seen near 21096-21106, then a bearish to sideways expiry was possible between 21096 and 21018/20940, but open gap up above 21096-21106 and immediately took support,making upside rally to 21200.
:: UPSIDE ::
1.As it has sustained above 21130-21150,the next upside target 21243/21250 still pending on weekly pivot point basis.
2.If opened flat above 21150 and after taking support from 21130 start trading above 21150,then 20243/20250 can be seen upside.
3.After consolidating between 20220 and 20243/20250,if breaks upside then 20300/330 can also be seen
:: DOWNSIDE:
1.21096-21106 a strong support downside
BANKNIFTY FOR 15 DEC#Execution only after break and close above or below from resistance or support 15-minute candle.
#Stop Loss above or below from resistance or support 15-minute candle.
(S/R Levels Will be Flipped in The Situation of Gap up OR Gap down Open, Support Will Turn in Resistance and Resistance Will Turn in Support)
(This Analysis and idea is based only on support and resistance mechanism, Buy after resistance break and close above sell after support break and close below, Closing below resistance after trade will be stop loss likewise closing above support will be a stop loss after trade)
NOTE- Only for Education Purpose. This is not any kind of Trading advice I am giving by this analysis.
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NIFTY FOR 15 DEC#Execution only after break and close above or below from resistance or support 15-minute candle.
#Stop Loss above or below from resistance or support 15-minute candle.
(S/R Levels Will be Flipped in The Situation of Gap up OR Gap down Open, Support Will Turn in Resistance and Resistance Will Turn in Support)
(This Analysis and idea is based only on support and resistance mechanism, Buy after resistance break and close above sell after support break and close below, Closing below resistance after trade will be stop loss likewise closing above support will be a stop loss after trade)
NOTE- Only for Education Purpose. This is not any kind of Trading advice I am giving by this analysis.
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NIFTY FOR 14 DEC#Execution only after break and close above or below from resistance or support 15-minute candle.
#Stop Loss above or below from resistance or support 15-minute candle.
(S/R Levels Will be Flipped in The Situation of Gap up OR Gap down Open, Support Will Turn in Resistance and Resistance Will Turn in Support)
(This Analysis and idea is based only on support and resistance mechanism, Buy after resistance break and close above sell after support break and close below, Closing below resistance after trade will be stop loss likewise closing above support will be a stop loss after trade)
NOTE- Only for Education Purpose. This is not any kind of Trading advice I am giving by this analysis.
Please Give A Like If You Like
BANKNIFTY FOR 14 DEC#Execution only after break and close above or below from resistance or support 15-minute candle.
#Stop Loss above or below from resistance or support 15-minute candle.
(S/R Levels Will be Flipped in The Situation of Gap up OR Gap down Open, Support Will Turn in Resistance and Resistance Will Turn in Support)
(This Analysis and idea is based only on support and resistance mechanism, Buy after resistance break and close above sell after support break and close below, Closing below resistance after trade will be stop loss likewise closing above support will be a stop loss after trade)
NOTE- Only for Education Purpose. This is not any kind of Trading advice I am giving by this analysis.
Please Give A Like If You Like
MPHASIS BO [DAILY]IT sector is building a momentum for now and constituents of IT index are showing strength. MPHASIS is one of them I studied a while back, it rides on pretty heavy financial clients majorly US banks, and seeing this BO makes one think if this can follow up ahead.
Momentum certainly feels to be creeping in.
NIFTY 14 DEC: Weekly Expiry 1. Late night,after the FED kept the interest interest rate ECONOMICS:USINTR unchanged @5.5%, DOW TVC:DJI showed upside move of +512 points towads 37180 and GIFT NIFTY NSEIX:NIFTY1! showed an upmove of +200 points, chances are Nifty NSE:NIFTY may open gap up.
2.Yesterday,as analysed if open below 20940,then 20940 may act as resistance for downside move to 20820/20830, after 20820/830 was broken down 20785 was also seen as analysed yesterday.
After taking support from 20785 it was able to break 20820/20830 upside and traded above it, and just closed below 20940
3.Today,If open flat above 20880-20900,then 20850-20880 may be day's immediate support,20820-20830 may act as strong support(have to confirm with price action)
4.If open gap up above 20940-20976,then 20940 may act as support with immediate support below 20880-20900
5. If open big gap up above 21018,then a sideways expiry can be seen between 21096/106 and 20976/940