NIFTY 50 November Closing 23786?Nifty 50 took support near .618 fib retracement levels on Daily TF which is astride 200 DEMA (23555). An Overhead Supply Zone has formed below the 0.382 fib retracement level (24567).
The pattern formation suggests November monthly closing in the Pivot Zone of 23786 to 24053.
Search in ideas for "NIFTY 50"
NIFTY 50 - Breakdown on Daily chartNifty 50 has given a clear breakdown of
major support level on daily chart.
Currently it is trading below all the
important MAs and few more correction
is expected.
My analysis says that it would go down
till 23550 - 23680 level where it can take
support.
After taking support at these levels,
it can again bounce back.
Nifty-50 Levels For Intraday or swing TradingNifty 50 Chart Overview:
Current Value: ₹24,7801.
Recent Performance:
1 day: +0.76%
5 days: +1.47%
1 month: +2.40%
6 months: +12.59%
Year to date: +15.11%
1 year: +29.61%
5 years: +127.45%
Key Data Points:
Volume: Not specified
Previous close: Not specified
Open: Not specified
Day’s range: Not specified
Recent Analyst Views (August 22nd):
Price was moving in a wide range for two days and broke out above the consolidation range.
Buy Above: ₹24,780
Stop Loss: ₹24,740
Targets: ₹24,820, ₹24,860, ₹24,890, and ₹24,920
Sell Below: ₹24,680
Stop Loss: ₹24,720
Targets: ₹24,640.
Nifty 50 Index Chart Analysis (15-Minute Timeframe)Nifty 50 Index Chart Analysis (15-Minute Timeframe)
Key Levels:
- **Resistance:** 24,575.85, 24,660.65, 24,835.65
- **Support:** 24,439.30, 24,194.55
Trading Ideas:
1. **Bullish Scenario:**
- **Breakout Above 24,575.85:**
- Target: 24,660.65, then 24,835.65
- Strategy: Enter long on breakout confirmation.
2. **Bearish Scenario:**
- **Breakdown Below 24,439.30:**
- Target: 24,194.55
- Strategy: Enter short on breakdown confirmation.
3. **Range-Bound Scenario:**
- **Between 24,575.85 and 24,439.30:**
- Strategy: Buy near 24,439.30 support, sell near 24,575.85 resistance.
Trading Tips:
- **Breakout Trading:** Enter on confirmed breakouts with volume.
- **Range Trading:** Buy at support, sell at resistance.
- **Risk Management:** Use stop-loss orders and proper position sizing to manage risk.
NIFTY 50 GANN ANALYSIS FOR JULY 2024 MONTHLY EXPIRYNifty 50 index is hitting Highers Highs after 26 Oct 2023 lows at regular intervals with the low coming in at 16828.35. Actual swing low was 17 June 2023 at 15183. From there we got a 6 month Top at 18887.60 on 1 Dec 2022. There after we got a 3 month correction to 16828.35 on 20 March 2023. Next was a 4 month Top at 19991.85 on 20 July 2023. Next was a correction of 3 months at 18837.85 at 26 Oct 2023 Lows. There was an intermitent Top at 20222.45 which was a bull trap in cycle theory just 300 points above the old top called "Lost Motion " in Gann Theory.
Next Top came in at 23338.70 a 7 month and 7 days Top on 03 June 2024. We had a mini crash in 1 day correcting the cycle back to 6 months Lows. After that has been a smooth ride to ATH forming at 24401 on 04 July 2024. 24100 was the Price squaring Level with 300 points Lost motion seen. Current High squares the recent low of June 04. 25500 is Time resistance for July 2024 expiry.
Happy Trading !!!
NIFTY 50 GANN ANALYSIS FOR WEEKLY EXPIRY OF 13 JUNE 2024...Nifty 50 Index has completed one price cycle from 23206.50 to 23439.50. We have retraced down to an important trend decider level of 23323 which is yesterday's close. We need to stay above it for the expiry day to be positive. I we gap up today 23400.65 is the level to watch on the upside. Major resistamce at 23439.50 above which we may see new all time highs till levels of 23478.30/23497.75/23526.90. I know its not possible in a single day but being aware of the levels helps us to be in the right perspective while trading so no surprises for us. On the dowside we stay below 23323 then suports are at 23293.90. Break of this level may see swift profit booking till support of 23245.30. Below this we can fall down till 23206.50. Below this can be panice area till 23167.65 and 23119.15. Trade the levels wisely and make some decent profits for yourself. Remember price is the best indicator you will in your trading career. try to work on price directly to trade fast and very objectively with clear approach to your trades.
Happy Trading !!!
N.B. Not a financial advice to buy or sell.
With usual disclaimers as applicable within the reach of this
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of the program for this opportunity to use it freely to
express our ideas to the community of traders.