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NIfty Next Levels 20200 or 18800? Let's Read to know my view.Good Morning Mates. Nifty exhibited volatility but achieved a significant milestone by closing above 19600 for the first time in a while. The bullish crossover of the MACD signaling an ongoing bullish trend. Additionally, a bullish crossover in the RSI highlights the index's strength. In the short term, Nifty may target levels of 19800/19991 or even 20200+. On the downside, key support rests at 19308, and the market is expected to maintain a buy-on-dips strategy as long as this support level holds. Additionally we have Seen Triangle Continuation Pattern Breakout on Daily Chart, this is also a positive sign for nifty, i will explain a bit about this triangle pattern here. Q:- What Is the Triangle Continuation Pattern? Rahul:- The Triangle is a continuation pattern using the concepts of support and resistance and price breakouts. Generally, when prices make significant moves, they go through a period of resting. Usually with a Triangle pattern, the price consolidation period consists of higher lows and lower lows, forming the shape of a “triangle”. Q:- What Does the Triangle Continuation Pattern Look Like? Rahul:- Guy's check above the Nifty chart, i have rectified Triangle pattern. Q:-How to Interpret the Triangle Continuation Pattern? Rahul:- When the support and resistance lines begin converging, price can burst out of the consolidation area and it is expected that the price action will continue trending in the direction that prices have been moving previously. Q:- Is Triangle Continuation Breakout Pattern is a Buy Signal? Rahul:- Yes it gives signal to buy when the resistance line is penetrated to the upside. The signal is generally expected to be stronger if prices have been in an uptrend prior to the upside breakout. I hope guy's you have learned now about this Bullish Triangle pattern. 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:NIFTYLong
by TraderRahulPal
2
Indusind Bank- Bullish TriangleUsually this wave structure forms in an impulsive sequence as wave 4 . It consists of 5 sub waves as wave-a , wave-b , wave-c, wave-d and a final setback wave-e . Each of these waves consists of three wave internal structure. Each of the waves should not break their extreme points. The final confirmation to enter the position comes when the price gets close above the level of wave-d. The minimum target of the pattern is just a poke above the level of wave-b and just above the level of wave-3 of the impulsive count. There is also a guideline to predict the target of this pattern which is known as triangular thrust. The triangular thrust is the measurement of the distance from the level of wave-a to the level of wave-b . This measured length should be kept at the point of completion of wave-e (conservative approach) or to the breakout level of wave-d to get the target of this pattern (aggressive approach). INVESTMENT STRATEGY: Buy on CMP 1448 , keeping SL of 1398 look for the target of 1500/1550 in the coming days
NSE:INDUSINDBK
by TradingSutra
Bank NIfty Intraday Levels for 05/Sep/2023Good Morning Traders. Banknifty maintained upward momentum for yet another session, rising 142 points to 44578, but formed a small bodied bearish candlestick pattern with a long lower shadow on the daily charts, indicating buying a lower levels. The immediate obstacle on the upside is at the 44600-44650 zone. A successful break of it would pave the way for the index to move towards 45000 levels, where a substantial amount of open interest exists on the call side, making it a key area to watch, he said. Overall guy's market is buy on dips. Any dips will be buying on dips. Important levels for Banknifty:- Support zone 44300-44200 Resistance zone 44650-44750 Buy above 44625, if levels sustains at least for 15 mints Targets we can see for upside 44780/44938 Keep stop loss at 44459 Sale below 44459, if levels sustains at least for 15 mints. Targets we can see in downside 44335/44158 Keep stop loss at 44625 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:BANKNIFTY
by TraderRahulPal
Banknifty levels for intraday 29/August/23Good Morning Mates. Yesterday We have seen Higher highs and highers low formation in Banknifty. Mates Banknifty jumped 263 points to 44494.65 and formed a bullish candlestick pattern on the daily charts. Guy's keep watching 44500 levels, Because if banknifty is going to give successfully breakout of 44500 levels then we can see Banknifty towards 44714/44944+ levels just today or may be till tomorrow. Apart from this we have support zone at 44300/44150 in downside. So today 44500 will make for break levels. So just keep an eye on this levels. Important levels for Banknifty:- Support zone 44300/44150 Resistance zone 44700/44900 Buy above 44554, if levels got sustained at least for 30 Mints. Targets we can see in upside 44717/44944+ Keep stop loss at 44313 Sale below 44313, if levels got sustained at least for 30 Mints. Targets we can see in downside 44131/43938 Keep stop loss at 44554 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:BANKNIFTY
by TraderRahulPal
NIfty view for one week, Market seems bullish from here.Good Morning Mates, Gift nIfty indicating Nifty is going to open marginally higher today around 40 points. On Friday it was surely very confusive market for most of the trader, Nifty closed 120 points lower at 19265. Chances are high that the NIfty may get support at 19236 followed by 19211, Upside there is resistance at 19321, followed by 19373. But it seems We will cross these resistance in coming days. Nifty is getting ready to fly towards 19475+ levels. Global markets also supporting, Asian Market looking Green everywhere, Most of the Indices trading 1% above today. Let's see how is going to start our market. Important levels for nifty:- Support zone 19211-19236 Resistance zone 19321-19373 Buy( Accumulate ) in the range of 19255-19325. Targets we can see in upside 19321/10373/19475+ Keep stop loss at 19175 I have an Option trade (Bull call Spread):- Buy 19300 ce now at 72 Sale 10400 ce now at 38 Prob. of Profit 36.81% (I am giving all estimation on 1 lot) Max. Profit in ₹ +3,268 (16.98%) Max. Loss ₹ -1,732 (-9.00%) Max. RR Ratio 1:1.89 Estimated Margin/Premium ₹ +19,244 Note:- Prices are according to friday closing as market is going to open almost 40 points gap up, so adjust accordingly in both strike prices. 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:NIFTYLong
by TraderRahulPal
Nifty intraday levels 25/Aug/23Good morning Traders, What was the session for yesterday in nIfty and other indices as well, Nifty opened at 19535 and climbed up to 19584 but bears turned active in late in the morning and taken nifty down towards 19369. Nifty had lost almost 200 points from day's high..Whatever opening gap was filled completely in same day. In daily Timeframe i have seen long bearish engulfing candle which is sign of bearish strengthen in Nifty. According to open Interest highest call writing seen at 19400 strike followed by 19500 and 19600 strike. These levels can act key hurdle for nifty in near term. Important levels for nifty:- Support Zone 19200-19250 Resistance Zone 19400-19450 Buy only above 19384, if levels sustains at least for 30 Mints Targets we can see in upside 19458/19553 Keep stop loss at 19301 Sale only below 19301, if level sustains at least for 30 Mints. Targets we can see in downside 19258/19203 Keep stop loss at 19384 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
Expiry Special Analysis NIfty Intraday levels || Hero & Zero dayGood Morning Everyone, First of all Being an Indian i want to congratulate all the Indians that CHANDRAYAN-3 GOT SUCCESSFULLY LANDED ON CHANDAMAMA (MOON) Guy's, we have done what is very difficult for many countries to even think. Really a great job done by our ISRO Scientist team, they are really a Real Super Heros in actually for our country, they just made us proudful. Now we are the 4th country who has done this miracle. Guy's there is a saying NEVER GIVE UP, and India is the example for that, after the failure of Chandrayan-2, Our scientist has done well and they have made a huge come back, this is really a Grand Success for them. Sorry guy's this has been little lengthy in writing all this but i really want to Motivate the Traders and Investors that NEVER GIVE UP, keep learning and practicing the things, Success is on the way, your time is coming guy's. Now let's focus on Nifty levels and Today's expiry day Analysis:- Guy's i have analysis of daily time frame and i found a Dogi candle on daily timeframe. I think from here if nifty goes past and holds above 19500, then it can move towards 19650 but in case of a fall, then we will see another round of selling pressure in NIfty. Yesterday Nifty has not done well as compare to other indices specially banknifty, After opening higher at 19439, Nifty gave up all the gains in early in morning and made low at 19366 and then after doing some time pass over there it has come again up and did not survived above 19450. i had told you guy's in last day nifty analysis that nifty is trading in a range (19450-19379) and we have seen same volatility in yesterday sessions. Alright guy's Now we have to watch 19500 levels, if that got breakout successfully then 19650 will coming soon. Important levels for Nifty:- Support zone 19350-19370 Resistance zone 19450-19470 Best buy will be when nifty cross above 19475 and sustains at least for 30 mints. Targets we can see in upside 19555/19602+ Keep stop loss at 19425 Best sale levels will be, once nifty breaks 19360 and sustains at least for 30 mints. Targets we can see in downside 19299/19242- Keep stop loss at 19425 Note:- Hero Zero Trade will be in 2nd half somewhere 1:15pm. So, we will update in afternoon according to price action, so stick with us and follow us to get notity at right time. Till then enjoy but don't overtrade and 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