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Supply and Demand

Nifty Intraday Analysis for 23rd December 2024NSE:NIFTY Index closed near 23590 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 24000 Strike – 93.22 Lakh 23900 Strike – 39.08 Lakh 24800 Strike – 29.17 Lakh Put Writing 23000 Strike – 82.65 Lakh 23500 Strike – 67.61 Lakh 24000 Strike – 59.83 Lakh Index has resistance near 23800 - 23850 range and if index crosses and sustains above this level then may reach near 24000 - 24100 range. Index has immediate support near 23550 – 23500 range and if this support is broken then index may tank near 23350 – 23300 range.
NSE:NIFTY
by RKMAURYA
Banknifty Intraday Analysis for 23rd December 2024NSE:BANKNIFTY Index closed near 50760 level and Maximum Call and Put Writing near CMP as below in December Month contract: Call Writing 52000 Strike – 21.56 Lakh 51500 Strike – 17.66 Lakh 51000 Strike – 11.89 Lakh Put Writing 50000 Strike – 15.07 Lakh 51000 Strike – 10.96 Lakh 50500 Strike – 9.68 Lakh Index has resistance near 51300 – 51500 range and if index crosses and sustains above this level then may reach near 51900 – 52000 range. Index has immediate support near 50400 - 50300 range and if this support is broken then index may tank near 49600 - 49500 range.
NSE:BANKNIFTY
by RKMAURYA
Finnifty Intraday Analysis for 23rd December 2024NSE:CNXFINANCE Index closed near 23510 level and Maximum Call and Put Writing near CMP as below in December Month contract: Call Writing 24000 Strike – 2.25 Lakh 24500 Strike – 1.90 Lakh 24600 Strike – 1.87 Lakh Put Writing 23000 Strike – 2.20 Lakh 24000 Strike – 1.31 Lakh 23500 Strike – 1.23 Lakh Index has resistance near 23750 - 23800 range and if index crosses and sustains above this level then may reach near 23950 - 24000 range. Index has immediate support near 23500 – 23450 range and if this support is broken then index may tank near 23150 – 23100 range.
NSE:CNXFINANCE
by RKMAURYA
Midnifty Intraday Analysis for 23rd December 2024NSE:NIFTY_MID_SELECT Index closed near 12685 level and Maximum Call and Put Writing near CMP as below in December Month contract: Call Writing 13000 Strike – 12.19 Lakh 12900 Strike – 4.87 Lakh 12800 Strike – 2.54 Lakh Put Writing 12500 Strike – 7.11 Lakh 12600 Strike – 4.52 Lakh 12700 Strike – 3.57 Lakh Index has immediate resistance near 12850 – 12900 range and if index crosses and sustains above this level then may reach 13000 – 13100 range. Index has immediate support near 12600 – 12550 range and if this support is broken then index may tank near 12400 – 12350 range.
NSE:NIFTY_MID_SELECT
by RKMAURYA
2
HINDALCO 10R probable trade set upThe short-term price action for Hindalco appears to be positive, with some bullish indicators: The stock is trading above its 20-day Simple Moving Average (SMA) of 657. The price is in the upper range of the Bollinger Bands, suggesting strong momentum. The MACD has generated a buy signal, although it is initial and weak. The CCI (Commodity Channel Index) has generated a strong buy signal. However, there are also some cautionary signs: The RSI is generating a sell signal in the short term. Volume-based indicators are showing selling momentum. Medium-term Outlook The medium-term analysis reveals a more complex picture: The stock is trading slightly above the 200-day Moving Average, around 6521. The zone between 652-620 is considered a crucial demand area. The RSI on the daily timeframe shows early signs of reversal, suggesting potential bullish momentum. Key Levels to Watch Resistance: A critical resistance level is identified near 715. Breaking above this level could negate the existing negative trend and confirm a reversal. Support: The 652-620 range is an important support zone. Maintaining a position above this range is crucial to prevent further selling pressure1. Options Data The Put-Call Ratio (PCR) for various strike prices indicates: For the 630 strike, the PCR is 3.58, suggesting more put options are being traded relative to call options. Higher strike prices (710, 720, 750) show lower PCR values, indicating less bearish sentiment for those levels.
NSE:HINDALCOLong
by KarniKripaa
BankNifty Intraday Support & Resistance Levels for 23.12.2024On Friday, BankNifty opened with a gap-down, climbing to a high of 51,629 before plummeting nearly 1,000 points to a day low of 50,609.35, entering the Daily Demand Zone. It closed negative for the 4th straight session at 50,759.20, losing 816 points. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) has turned negative. Demand/Support Zones Near Demand/Support Zone (Daily): 49,787.10 - 50,983.50 (current price inside the zone) Far Support Level: 49,282.64 (61.8% FIBO retracement) Supply/Resistance Zones Near Supply/Resistance Zone (125m): 52,010.65 - 52,368.30 Far Supply/Resistance Zone (125m): 52,709.40 - 52,911.10 Far Supply/Resistance Zone (Weekly): 53,741.40 - 54,467.35 (tested) Outlook After shedding almost 3,000 points in the past week, BankNifty has entered an oversold zone on the 75m timeframe and closed inside the Daily Demand Zone. A bounce-back is possible unless this critical zone is breached.
NSE:BANKNIFTY
by PriteshPalan
IRCTC-A monopoly stock available at discount!Technically, IRCTC has been in an uptrend since its listing in 2019. Stock has taken support multiple times at trendline visible on chart. If stock breaks this trendline due to bearish broader market, we can see a swift move towards 660 levels which is yet another demand zone. Levels given on chart. As most of us know, it is a monopoly PSU stock and has big potential in long term given the expansion of rail networks in India. It is not a recommendation but my personal opinion. I am a NISM Certified research analyst and not SEBI registered.
NSE:IRCTCLong
by chartistamey
4
Nifty Intraday Support & Resistance Levels for 23.12.2024On Friday, Nifty opened flat to positive and climbed to a high of 24,065.80, briefly crossing the previous day’s high. However, heavy selling pressure pushed it to a day low of 23,537.35, entering the 75m Demand Zone mentioned earlier. It closed negative for the 5th consecutive session at 23,587.50, losing 364 points. While the Weekly Trend (50 SMA) remains positive, the Daily Trend (50 SMA) has turned negative. Demand/Support Zones Near Demand/Support Zone (75m): 23,447.15 - 23,578.60 (tested) Far Support Level: 23,263 (low of 21st November 2024) Far Support Level: 23,189.88 (61.8% FIBO retracement) Far Demand/Support Zone (Daily): 21,791.95 - 22,910.15 Supply/Resistance Zones Near Supply/Resistance Zone (75m): 23,892.70 - 23,993.90 Far Supply/Resistance Zone (Daily): 24,149.85 - 24,394.45 Far Supply/Resistance Zone (Weekly): 24,567.65 - 25,234.05 (tested) Outlook Nifty has lost over 1,200 points during its five-day losing streak, entering an oversold zone on the 75m timeframe. With prices touching the 75m Demand Zone (23,447.15 - 23,578.60), there’s potential for a bounce back, provided the support holds.
NSE:NIFTY
by PriteshPalan
Nifty Week AheadNSE:NIFTY Couldn't Sustain above 100 DSMA. Sell on Rise Structure is Still Playing Well. Aggressive Trader: Short at Current Levels With 100 DSMA as SL. Conservative Trader: Short When it gives Pullback towards R1 or 100 DSMA. Long-Term Investor: Can Add Near S1 and S2. 📌Thank you for exploring my idea! I hope you found it valuable. 🙏FLLOW for more 👍BOOST if useful ✍️COMMENT Below your views. Meanwhile, check out my other stock ideas below until this trade is activated. I would love your feedback. Disclaimer: This analysis is intended solely for informational and educational purposes and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.
NSE:NIFTYShort
by Karanshah137
Nifty Outlook for 2025: Are We Entering a Bear Market?As the selling pressure in Nifty persists, the big question is: will it reverse course and hit new highs, or are we heading for a deeper downturn in 2025? Let’s set aside the noise about why FIIs are selling, DIIs buying, or other market triggers, and focus on what the charts are telling us. What the Charts Say After reaching an all-time high of 26,277.35 on 27th September 2024, Nifty corrected by 11.50%, dropping to 23,263.15 on 21st November 2024. This decline broke the Higher High - Higher Low pattern when it fell below the previous low of 23,893.70 (formed on 5th August 2024). Nifty retraced to make a high of 24,857.75 on 5th December 2024, only to resume its decline. As of 20th December 2024, Nifty closed at 23,587.50, and a break below 23,263 could confirm the start of a Lower High - Lower Low pattern, signalling a potential bearish trend. Key Zones to Watch - Resistance Levels: Strong Weekly Resistance: 24,567.65 - 25,234.05 Near Daily Resistance Zones: 24,149.85 - 24,394.45 and 24,601.75 - 24,781.25 - Support Levels: Near Support: 22,640 - 22,910 Far Support: 21,281 (previous major low from 4th June 2024) Trends & Insights The Weekly and Daily Trends (50 SMA) remain sideways, indicating uncertainty. To confirm a bullish revival, the Nifty must break and sustain above 25,000 - 25,250. Until then, the market appears to favour a "Sell-on-Rise" strategy. A fall below 22,640 could lead to further downside, with 21,281 emerging as a critical support zone. Final Thoughts The coming days are crucial. The market’s direction hinges on whether Nifty can defend key support levels or succumb to the pressure and form a Lower High - Lower Low pattern. What’s your take on Nifty’s outlook for 2025? Share your views in the comments below – let’s discuss! 👇
NSE:NIFTYShort
by PriteshPalan