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Nifty 50 Support and Resistance Levels (17/01/2024)Nifty 50 Support and Resistance Levels (17/01/2024) #### Support Levels: 1. **Support Level 1:** 21,960 2. **Support Level 2:** 21,900 3. **Support Level 3:** 21,800 - These support levels represent crucial areas where Nifty 50 might witness buying interest and potential reversals in case of a decline. #### Upside Resistance Levels: 1. **Resistance Level 1:** 22,119 - This level might act as a resistance point for potential upward movement. ### Technical Analysis Insights: - **Support Zones:** 21,960, 21,900, and 21,800 are critical areas where buying interest might emerge, potentially leading to a reversal or temporary halt in the downward movement. - **Resistance Zone:** 22,119 is anticipated to be a key level where selling pressure might intensify, limiting immediate upward movements. - **Breakdown Caution:** Breaking below 21,800 might signify increased bearish sentiment and could lead to further downside movement. - **Upside Breakout Confirmation:** A sustained breakout above 22,119 could indicate a potential uptrend or a shift in sentiment towards more significant buying.
NSE:NIFTYLong
by santubittu
Nifty 50 Support and Resistance Levels (11/01/2024) Nifty 50 Support and Resistance Levels (11/01/2024): #### Support Levels: 1. **Support Level 1:** 21,600 2. **Support Level 2:** 21,500 These support levels represent crucial areas where Nifty 50 might witness buying interest and potential reversals in case of a decline. #### Upside Resistance Levels: 1. **Resistance Level 1:** 21,700 - This level might act as the initial barrier for any potential upward movement. ### Technical Analysis Insights: - **Support Zones:** 21,600 and 21,500 are critical areas where buying interest might emerge, potentially leading to a reversal or temporary halt in the downward movement. - **Resistance Zone:** 21,700 is anticipated to be a key level where selling pressure might intensify, limiting immediate upward movements. - **Breakout Scenario:** A sustained breakout above 21,700 could indicate a potential uptrend or a significant shift in sentiment towards more significant buying.
NSE:NIFTYLong
by santubittu
Nifty 50 Support and Resistance Levels (09/01/2024)### Nifty 50 Support and Resistance Levels (09/01/2024): #### Support Levels: 1. **Support Level 1:** 21,511 (if market opens gap-up) 2. **Support Level 2:** 21,450 3. **Support Level 3:** 21,300 These support levels indicate crucial areas where Nifty 50 might witness buying interest and potential reversals in case of a market gap-up opening. #### Upside Resistance Levels: 1. **Resistance Level 1:** 21,580 to 21,600 - This level could act as the initial barrier for any potential upward movement. 2. **Resistance Level 2:** 21,700 - 21,700 is considered a significant resistance point, potentially limiting further upside movement. ### Technical Analysis Insights: - **Support Zones:** 21,511 (gap-up open), 21,450, and 21,300 are critical areas where buying interest might emerge, potentially leading to a reversal or temporary halt in upward movement. - **Resistance Zones:** 21,580 to 21,600 and 21,700 are anticipated to be key levels where selling pressure might intensify, limiting immediate upward movements. - **Breakdown Caution:** Breaking below 21,300 could signal increased bearish sentiment and possibly lead to further downside movement.
NSE:NIFTYLong
by santubittu
NIFTY 50 Support and Resistance For 28Dec2023 **Nifty 50 Index Analysis - 28/12/23:** 1. **Support Zones:** - **Primary Support:** 21587 - **Secondary Support:** 21450 - **Tertiary Support:** 21300 These support levels are essential reference points for traders. If the market experiences downward pressure, these levels could act as potential areas where the selling might slow down or reverse. 2. **Resistance Zone (Gap-down Scenario):** - **Primary Resistance:** 21648 If the market opens with a gap-down, 21648 is identified as a potential resistance zone. This level could act as a barrier where the upward momentum may face challenges. 3. **Monthly Expiry Considerations:** - Given that tomorrow is the monthly expiry, it's important to be cautious about changes in market dynamics. - Option premiums may decay rapidly as expiry approaches, influencing trading strategies. 4. **Trading Strategy Considerations:** - Traders should be cautious and consider reducing position sizes or using risk management strategies due to the potential for increased volatility associated with monthly expiries. - Keep an eye on option premiums, and be mindful of time decay, especially if engaging in options trading. 5. **Market Monitoring:** - Regularly monitor the market for any sudden news or events that might impact the Nifty 50 index. - Dynamic adjustments to trading strategies may be necessary based on real-time market conditions. 6. **Conclusion:** - Traders should trade carefully, considering the identified support and resistance levels, as well as the potential impact of monthly expiry on option premiums. - Stay informed about market news and events that may influence the index.
NSE:NIFTYLong
by santubittu
Nifty 50 Support and Resistance 31 Oct 2023 * **Nifty 50 is currently trading above its 50-day and 200-day moving averages, which is a bullish sign.** * **The Relative Strength Index (RSI) is at 65, which is in the overbought zone. This suggests that the market may be due for a pullback.** * **The MACD crossover is bullish, which indicates that the market is likely to continue moving upwards.** **Support and Resistance Levels** * **Support levels:** 19077, 19000, 18924, 18867 * **Resistance levels:** 19218, 19262, 19305, 19347 **Trading Strategy** * **If the market opens above 19173 tomorrow, traders can go long with a stop loss below 19100.** * **Traders can book profits at 19218 or 19262.** * **If the market breaks below 19077 tomorrow, traders can go short with a stop loss above 19100.** * **Traders can cover their short positions at 19000 or 18924.** **Please note that no trading strategy is guaranteed to be successful. Traders should always use risk management techniques to protect their capital.** **Disclaimer:** This is just a sample analysis and trading strategy. It is not a recommendation to buy or sell Nifty 50. Traders should do their own research before making any trading decisions.
NSE:NIFTYLong
by santubittu
Nifty 50 Analysis for 17Oct23 Nifty 50 Analysis for 17/10/23 Support Levels 19,733 19,684 Resistance Levels 19,833 Buying Zone Above 19,833 Selling Zone Below 19,684 Analysis Nifty 50 closed at 19,772.05 on 16/10/2023. The market did not break the support level of 19,730 on 16/10/2023, and bounced back from there. This suggests that there is some buying support at the current levels. For tomorrow, the support levels are 19,733 and 19,684. The resistance level is 19,833. If the market breaks and sustains above 19,833 tomorrow, it will be a bullish signal, and we can consider buying in the 19,833-19,934 range. If the market falls below 19,684 tomorrow, it will be a bearish signal, and we can consider selling. Note: This is just an analysis, and it is not a recommendation to buy or sell any security. Please do your own research before making any investment decisions. Additional Thoughts Based on your previous discussions, it seems like you are using a breakout strategy. This means that you are looking to buy when the market breaks above a resistance level, and sell when it breaks below a support level. It is important to note that breakout strategies can be risky, as there is no guarantee that the market will continue to move in the same direction after breaking through a resistance or support level. It is also important to have a risk management plan in place, so that you can limit your losses if the market moves against you. One way to reduce your risk is to use stop-loss orders. A stop-loss order is an order to sell a security at a specific price. This can help to limit your losses if the market moves against you. Another way to reduce your risk is to position size management. This means that you should only risk a small percentage of your portfolio on any one trade. This will help to protect your overall capital if you experience a loss.
NSE:NIFTYLong
by santubittu
Nifty 50 Technical Analysis for Tomorrow **Nifty 50 Technical Analysis for Tomorrow (September 28, 2023)** **Key Levels:** * Resistance: 19800, 19885 * Support: 19684, 19600, 19550 **Analysis:** * The Nifty 50 is currently in a bearish trend, as evidenced by the broken trendline and support at 19684. * If the market opens gap-down or flat tomorrow, then it is likely to find support at 19684 or 19600. * For a bullish reversal, the market needs to close above 19730 on a 15-minute candle. * If the market breaks below 19550 tomorrow, then a further fall is possible. **Trading Strategy:** * Traders should wait for a confirmation of the trend before entering a trade. * If the market opens gap-up above 19730 tomorrow, then traders can enter a long trade with a stop-loss order below 19684. * If the market opens gap-down or flat tomorrow, then traders should wait for a confirmation of the downtrend before entering a short trade. * Traders should always use stop-loss orders to protect their capital. **Example:** A trader is bearish on the market and wants to enter a short trade. The trader waits for the market to open gap-down or flat tomorrow. The trader then enters a short trade with a stop-loss order above 19730. If the market falls below 19550 tomorrow, then the trader will make a profit. If the market breaks above 19730, then the trader will exit the trade with a small loss. It is important to note that this is just a sample technical analysis and trading strategy. Traders should always do their own research before making any trading decisions.
NSE:NIFTYLong
by santubittu
Nifty 50 Tuesday Setup | Bearish setupNifty 50 price is near a very important support trendline and in the 2Hr time frame, we could see a XABCD bullish butterfly pattern. This XABCD pattern gives 3 targets once the price breaches 17650 and the support trendline. If the price trades below 17650 in the afternoon, we could see a fall. The RSI can be seen just below 50 and Choppiness Index near 61.8 could support rapid fall. The rise in VIX is seen today which means there could be larger moves yet to come. Until the market crosses 17780, it is difficult to see a big rally on the long side. Please refer to the chart for trigger levels and place for stop losses as per your risk appetite. This is not an investment idea. Happy trading. :)
NSE:NIFTYShort
by Sanjan91