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NIFTYImportant Levels for 25-11-2021. The index was definitely the weaker of the two indices and was stuck in a small range of 50 points before the bears gained complete control and closed strongly. 17350-17360 had seen good buying yesterday and will be a important zone to consider tomorrow. If we open slight gap up or flat and start trading below 17350 we can take a short position with a SL of 17375 and aim for targets of 17310,17270 and 17250. The SL needs to be trailed aggressively once we trade below 17300 as we had witnessed strong buying yesterday at these levels. If we see open flat and start trading above 17360, risky traders can look forward to take longs with half of normal quantity and aim for targets of 17440 and 17480. Safe traders avoid longs and wait for negative price action in the range of 17440-17480 and once we see a -ve candle well supported by volumes we can enter with a SL of 20-25 points and aim for initial target of 17360 and then targets mentioned above. Option data as of now indicates 17300 and 17500 to act as good support & resistance respectively.
NSE:NIFTY1!Short
by deepss4u
5 days in a row, Nifty ends FlatNIFTY 50 EOD ANALYSIS -13-09-21 IN SUMMARY O / H / L / C 17363.55 / 17378.35 / 17269.15 / 17355.3 H-L = 77 points VIX 14.03 / +0.65% FII DII: +860 Crores Likely open: Positive Gap-up provided it is able to stay above today’s close for an hour or so. CHART BASED CONCLUSIONS - 5 Minutes Chart A gap-down open with an attempt to cross the P Close was immediately sold in to and within the next hour, the day’s low was hit. NIFTY breached 17300 with relative ease and found support around intraday pivot points of 17274. The relief rally was steady and was held on to by NIFTY. One more indecisive close on the Daily charts. NIFTY WEIGHT LIFTERS & DRAGGERS The Weight Lifters TCS 14 HDFC 08 BAJAJ FINSERV 07 KOTAK BANK 05 HINDALCO 05 TOTAL 49 The Laggards RELIANCE 44 ICICI BANK 20 HDFC BANK 13 HUL 04 ADANI PORTS 02 TOTAL 83 Lifter - Draggers = -34 POSITIVES NIFTY closed above 17350. INFOSYS recovered from the lows of the day to end flat. HDFC is looking good around 2850. MARUTI seems to be witnessing renewed buying interest. FIIs have bought in excess of 1400 Crores. NEGATIVES RELIANCE single-handedly pulled NIFTY down and two of the heavyweights of BANK NIFTY were badly influenced by the negativity and they too joined the draggers team. BANK NIFTY closed below 36500. HDFC BANK is experiencing unusual weakness which is leading to nervousness in ICICI BANK as well. TRADING RANGE FOR 14-09-21 17000-17200 is the support base.17400-450-500 may be the resistance area for NIFTY. BANK NIFTY support stays at 36200-400 and resistance at 37000-37200. INSIGHT / OBSERVATIONS It is strange indeed that around ATH levels, the path of least resistance for NIFTY is downward. One of the worrying things is that now NIFTY does not face strong buying support around 17300 and quickly drifts towards 17250. The tendency to make lower lows with a flat closing is not what one would expect in a bull market especially around the ATH levels. FTSE was quite positive and yet we ended in the red - another instance where our indices have chosen to ignore the global cues even when they were positive. RELIANCE made a low around the FIB level of the daily charts. If the level is held, NIFTY may well be able to catch up soon. What do you feel about this? Thank you, and Happy Money Making! Umesh 13-09-21 P.S. If you choose to comment on the above, please do so with your analytical view rather than merely passing a comment. Your presentation of the view held by you would help other readers as well. NOTE -- This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title, as well as its contents, can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right.
NSE:NIFTY
by AVENUESOFINVESTMENT
Weekly BTC-USD(23rd August)Bitcoin continues its uptrend for the 5th consecutive week, the bulls overall dominated the whole crypto ecosystem as the combined market capitalization reached more than $2.2 Trillion. BTC witnessed a volatile last week as it made a low of $43,955 but strong buying pressure pushed the price to $49,821. At the time of writing, BTC has been trading slightly above $50,100. Currently, BTC has been trading in a crucial range of $50-$51K as it can act psychologically. BTC has now appreciated by more than 70% from its July lows which mildly depicts a cooldown phase or a consolidation phase in the coming days. However, weekly RSI is still not in the overbought zone which suggests that this rally can continue. On the higher side, BTC has a stiff resistance in the range of $50.5K to $51K, if it decisively breaks this range, the next potential target would be $53K followed by $55.5K. On the lower side, the nearest support is present at $48.5K, followed by $47K. Weekly MACD is also entering into the positive zone which depicts that buying momentum should continue in the coming weeks, but a daily closing above the level of $50.5K will act as a confirmation to go Long.
COINBASE:BTCUSDLong
by TradeDog-Research