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Supply and Demand

Nifty Intraday Support & Resistance Levels for 22.10.2024On Monday, Nifty opened with a gap up, touching the 75-minute supply zone and making a high of 24,978.30. However, it reacted sharply from this zone, falling nearly 300 points to a low of 24,679.60. It eventually closed at 24,781.10, down 73 points from the previous close and below the FIBO 61.8% retracement level of 24,804.25. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) is negative. Nifty Demand/Support Zones for 22.10.2024: Near Demand/Support Zone (Daily): 24,099.70 - 24,196.50 Far Demand/Support Zone (Weekly): 23,893.70 - 24,419.75 Nifty Supply/Resistance Zones for 22.10.2024: Near Supply/Resistance Zone (15m): 25,195.85 - 25,234.05 Far Supply/Resistance Zone (15m): 25,420 - 25,485.05 Far Supply/Resistance Zone (15m): 25,500.95 - 25,545 Far Supply/Resistance Zone (Daily): 25,739.20 - 25,907.60 Far Supply/Resistance Zone (Daily): 26,151.40 - 26,277.35
NSE:NIFTY
by PriteshPalan
Is Lupin Ltd. Headed for Further Decline?Let's analyze the provided chart of LUPIN LTD. (1W) and discuss the cup and handle pattern. Cup and Handle Pattern Upon examining the chart, we can identify a potential cup and handle pattern forming. This pattern is a bullish continuation pattern that suggests a stock is likely to resume its upward trend after a brief period of consolidation. Components of the Pattern * Cup: The "cup" portion of the pattern is formed by the downward price movement followed by an upward movement, creating a rounded bottom shape. In the case of LUPIN, we can see a clear downward trend from the peak in 2021, followed by a bottoming out around 2023 and a subsequent upward movement. * Handle: The "handle" is a short period of sideways or downward movement after the cup formation. It's like a flagpole attached to the cup. In LUPIN's case, the handle appears to be forming currently, with the price consolidating in a narrow range. Interpretation If this pattern plays out as expected, LUPIN's stock price could break out above the handle's resistance level, signaling a resumption of the uptrend. The target price for this breakout could be estimated by measuring the height of the cup and adding it to the breakout point. Additional Technical Analysis Beyond the cup and handle pattern, here are some additional observations from the chart: * Support and Resistance: The chart shows clear support and resistance levels, which can be used to identify potential entry and exit points. * Moving Averages: The 50-day and 200-day moving averages are currently crossing each other, indicating a potential bullish crossover. This could further support the upward trend. * Volume: While not explicitly shown in the chart, volume can be a valuable indicator of market sentiment. Increased volume during the breakout phase of the cup and handle pattern would confirm the strength of the move. Caveats It's important to remember that technical analysis is not foolproof. While the cup and handle pattern is a reliable indicator, it's not guaranteed to work in every situation. Other factors, such as fundamental analysis and overall market conditions, can also influence the stock price. Conclusion Based on the chart, LUPIN LTD. appears to be forming a cup and handle pattern. If the pattern plays out as expected, the stock could see a significant upward move. However, it's crucial to monitor the pattern closely and consider other technical indicators before making any investment decisions. Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Always consult with a qualified financial advisor before making any investment decisions.
NSE:LUPIN
by Stock_market_signals
Nifty Intraday Analysis for 21st October 2024NSE:NIFTY Index closed near 24855 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 25000 Strike – 53.45 Lakh 25500 Strike – 42.62 Lakh 25100 Strike – 31.69 Lakh Put Writing 24500 Strike – 37.52 Lakh 24800 Strike – 33.90 Lakh 24700 Strike – 32.87 Lakh Index has resistance near 24900 – 25000 range and if index crosses and sustains above this level then may reach near 25150 - 25200 range. Index has immediate support near 24700 – 24650 range and if this support is broken then index may tank near 24500 – 24450 range.
NSE:NIFTYLong
by RKMAURYA
Banknifty Intraday Analysis for 21st October 2024NSE:BANKNIFTY Index closed near 55095 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 53000 Strike – 18.59 Lakh 52500 Strike – 17.11 Lakh 52000 Strike – 15.82 Lakh Put Writing 51500 Strike – 27.49 Lakh 51000 Strike – 23.92 Lakh 52000 Strike – 14.04 Lakh Index has resistance near 52500 – 52600 range and if index crosses and sustains above this level then may reach near 53000 – 53200 range. Index has immediate support near 51500 - 51400 range and if this support is broken then index may tank near 51000 - 50900 range.
NSE:BANKNIFTYLong
by RKMAURYA
Finnifty Intraday Analysis for 21st October 2024NSE:CNXFINANCE Index closed near 23940 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 24000 Strike – 12.57 Lakh 24300 Strike – 5.98 Lakh 24100 Strike – 5.76 Lakh Put Writing 23700 Strike – 9.40 Lakh 23500 Strike – 7.60 Lakh 23600 Strike – 7.58 Lakh Index has resistance near 24050 - 24100 range and if index crosses and sustains above this level then may reach near 24250 - 24300 range. Index has immediate support near 23700 – 23650 range and if this support is broken then index may tank near 24500 – 24450 range.
NSE:CNXFINANCELong
by RKMAURYA
Midnifty Intraday Analysis for 21st October 2024NSE:NIFTY_MID_SELECT Index closed near 13035 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 13200 Strike – 27.60 Lakh 13500 Strike – 24.35 Lakh 13250 Strike – 18.54 Lakh Put Writing 13000 Strike – 18.80 Lakh 12800 Strike – 16.56 Lakh 12900 Strike – 13.70 Lakh Index has immediate resistance near 13150 - 13250 range and if index crosses and sustains above this level then may reach 13350 – 13400 range. Index has immediate support near 12900 – 12950 range and if this support is broken then index may tank near 12800 – 12750 range.
NSE:NIFTY_MID_SELECTLong
by RKMAURYA
BankNifty levels - Oct 22, 2024Utilizing the support and resistance levels of BankNifty, along with the 5-minute timeframe candlesticks and VWAP, can enhance the precision of trade entries and exits on or near these levels. It is crucial to recognize that these levels are not static, and they undergo alterations as market dynamics evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We trust that this information proves valuable to you. * If you found the idea appealing, kindly tap the Boost icon located below the chart. We encourage you to share your thoughts and comments regarding it. Wishing you successful trading endeavors!
NSE:BANKNIFTY
by sacxe
Nifty levels - Oct 22, 2024Nifty support and resistance levels are valuable tools for making informed trading decisions, specifically when combined with the analysis of 5-minute timeframe candlesticks and VWAP. By closely monitoring these levels and observing the price movements within this timeframe, traders can enhance the accuracy of their entry and exit points. It is important to bear in mind that support and resistance levels are not fixed, and they can change over time as market conditions evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance to consider. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We hope you find this information beneficial in your trading endeavors. * If you found the idea appealing, kindly tap the Boost icon located below the chart. We encourage you to share your thoughts and comments regarding it. Wishing you success in your trading activities!
NSE:NIFTY
by sacxe
Pre Market analysis NIFTY 50 - 21 oct24Market Analysis NIFTY 50- 21st oct 24 - NIFTY opening 24956 opening near small resistance - 24977 and PSY 25k, and support from yellow trendline as shown - should sustain this for bullish , can take SUPPORT from dip - 24888 till 24860 if not hold can head to 24772 -Pivot and bearish below that (2nd support) WAIT n WATCH -9.45 #NIFTY #niftyanalysis #nifty50 #niftyprediction #banknifty #stockmarket #marketanalysis #nifty scalping #niftyview #niftyscalping #scalping #stockmarketview
NSE:NIFTY
by CompoundingWithSwingNSESTOCKS
BankNifty Intraday Support & Resistance Levels for 21.10.2024On Friday, BankNifty opened with a gap down, hitting a low of 51,000.90, and then staged an impressive comeback, bouncing nearly 1,200 points to a high of 52,199.45. It closed at 52,094.20, gaining 805 points from the previous close. If BankNifty breaks below 51,000 with volume and sustains, further downside could extend to 49,959 or below. The Weekly Trend (50 SMA) remains positive, and the Daily Trend (50 SMA) is sideways. BankNifty Demand/Support Zones for 21.10.2024: Near Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far Support: 49,282.65 (61.8% FIBO Level) Far Demand/Support Zone (Daily): 44,633.85 - 45,750.40 BankNifty Supply/Resistance Zones for 21.10.2024: Near Supply/Resistance Zone (15m): 52,254.70 - 52,358.35 Far Supply/Resistance Zone (15m): 52,417.40 - 52,562.70 Near Supply/Resistance Zone (Daily): 52,817.80 - 53,235.25 Far Supply/Resistance Zone (75m): 53,763.20 - 53,945.10 Far Supply/Resistance Zone (75m): 54,152.50 - 54,338.70
NSE:BANKNIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 21.10.2024On Friday, Nifty opened with a gap down, entering the Daily Demand Zone (24,522.95 - 24,638.80) mentioned earlier. It made a low of 24,567.65 and then bounced back over 300 points to reach a high of 24,886.20. Nifty closed at 24,854.05, gaining 104 points from the previous close and managing to stay above the FIBO 61.8% retracement level (24,804.25). The Weekly Trend (50 SMA) remains positive, but the Daily Trend (50 SMA) is still negative. Nifty Demand/Support Zones for 21.10.2024: Near Demand/Support Zone (Daily): 24,522.95 - 24,638.80 (already tested) Far Demand/Support Zone (Daily): 24,099.70 - 24,196.50 Far Demand/Support Zone (Weekly): 23,893.70 - 24,419.75 Nifty Supply/Resistance Zones for 21.10.2024: Near Supply/Resistance Zone (75m): 24,951.75 - 25,059.45 Far Supply/Resistance Zone (15m): 25,195.85 - 25,234.05 Far Supply/Resistance Zone (15m): 25,420 - 25,485.05 Far Supply/Resistance Zone (15m): 25,500.95 - 25,545 Near Supply/Resistance Zone (Daily): 25,739.20 - 25,907.60 Far Supply/Resistance Zone (Daily): 26,151.40 - 26,277.35
NSE:NIFTY
by PriteshPalan
Technical Analysis of Gujarat Gas Ltd. (GUJGASLTD) Background: Gujarat Gas Limited is a natural gas distribution company in India. Technical Analysis: Trend Analysis: The overall trend for Gujarat Gas Ltd. appears to be bullish. The stock has been consistently making higher highs and higher lows, indicating a strong uptrend. Key Technical Indicators: * Moving Averages: * The 50-day and 200-day Moving Averages (MAs) are both trending upwards, confirming the bullish trend. * A golden cross (50-day MA crossing above the 200-day MA) would further strengthen the bullish signal. * Relative Strength Index (RSI): * The RSI is currently around 50, suggesting a neutral sentiment. However, a move above 50 could indicate a bullish momentum. * Bollinger Bands: * The price is currently trading near the upper Bollinger Band, indicating high volatility. A pullback towards the middle band could be a potential buying opportunity. * MACD (Moving Average Convergence Divergence): * The MACD line is above the signal line, indicating a bullish trend. A bullish crossover could signal a stronger upward trend. * Volume: * Increasing volume during uptrends confirms the strength of the bullish momentum. * Fibonacci Retracement: * The recent price pullback has retraced to the 50% Fibonacci level. A break above the 61.8% Fibonacci level could signal a continuation of the uptrend. * On-Balance Volume (OBV): * The OBV is rising, indicating that buying pressure is stronger than selling pressure. * Money Flow Index (MFI): * The MFI is above 50, indicating a bullish trend. Support and Resistance Levels: * Immediate Support: The 500 level could act as a strong support level. * Immediate Resistance: The 600 level could act as a strong resistance level. Trading Strategy: Buy: * Wait for a pullback to the 500 support level. * A bullish crossover of the 50-day MA above the 200-day MA could be a strong buy signal. * Increased volume during the uptrend would confirm the bullish momentum. Sell: * A break below the 500 support level could signal a bearish trend. * A bearish divergence between the price and the RSI could indicate a potential downward move. Stop-Loss: * Place a stop-loss below the nearest support level. Take-Profit: * Set a take-profit target at the nearest resistance level or based on a specific price target. Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. It is essential to conduct your own research or consult with a financial advisor before making any investment decisions. Past performance is not indicative of future results. Remember, while technical analysis is a valuable tool, it's important to consider other factors such as fundamental analysis and market sentiment before making investment decisions.
NSE:GUJGASLTD
by Stock_market_signals
Sonata Software - Bullish OpportunityWe have a bullish opportunity for Sonata Software - positional long: - Trend seems to be upwards on Monthly and Weekly TFs - On 1 Day TF, we have price reacting upwards from nearest 1-D Demand Zone - As per Elliott Wave model, price is forming bullish impulse wave upwards as shown in the chart. Currently, it seems to be forming a good solid 3rd Wave upwards on 1-D TF - Entry can be done at 620-625ish and Targets can be 650, 688, 700 for immediate swings. If the momentum carries forward, we will revisit for exact target of when 3rd wave completes later.
NSE:SONATSOFTWLong
by champvimal
1
ITC - Upward Leading DiagonalIt seems ITC has probably formed a base after consuming a good demand zone on 75 Mins TF and as per Dow Theory model, making higher lows and higher highs. As per my primary rationale of Elliott Wave analysis, it is forming a leading diagonal structure for Wave 1 on 75 Mins TF chart as shown hereby. We can confirm this once it consumes some demand at Wave 2 downwards and makes higher highs rally to initiate Wave 3. In case, it doesn't come to Wave 2 at around 420-425, then we may look for how price action and Elliott Wave Model plays out once it crosses 450 upwards breaking a good supply zone of 440-448. If it breaks Gann Square of 9 number - 463 upwards, then it will be confirmed that upward impulse wave has started yet again and may try to establish All-time highs again. But let's go step by step and see how the model and market sentiments work out/align beautifully in future. Take this as education post for Elliott Wave structure model and play around/perform exercises from your side too on various time frames.
NSE:ITCLong
by champvimal