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Support and Resistance

Nifty Intraday Analysis for 07th February 2025NSE:NIFTY Index closed near 23605 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 24000 Strike – 47.49 Lakh 23700 Strike – 36.50 Lakh 23600 Strike – 33.31 Lakh Put Writing 23600 Strike – 28.90 Lakh 23000 Strike – 27.17 Lakh 23500 Strike – 28.90 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 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 07th February 2025NSE:BANKNIFTY Index closed near 50380 level and Maximum Call and Put Writing near CMP as below in February Month contract: Call Writing 51000 Strike – 10.32 Lakh 50000 Strike – 7.59 Lakh 50500 Strike – 6.97 Lakh Put Writing 49000 Strike – 13.95 Lakh 50000 Strike – 10.71 Lakh 49500 Strike – 6.84 Lakh Index has resistance near 50700 – 50800 range and if index crosses and sustains above this level then may reach near 51400 – 51500 range. Index has immediate support near 49700 - 49600 range and if this support is broken then index may tank near 48900 - 48800 range.
NSE:BANKNIFTY
by RKMAURYA
Finnifty Intraday Analysis for 07th February 2025NSE:CNXFINANCE Index closed near 23660 level and Maximum Call and Put Writing near CMP as below in February Month contract: Call Writing 24000 Strike – 0.56 Lakh 23500 Strike – 0.53 Lakh 23600 Strike – 0.44 Lakh Put Writing 23000 Strike – 0.63 Lakh 23500 Strike – 0.49 Lakh 23600 Strike – 0.42 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 23300 – 23250 range.
NSE:CNXFINANCE
by RKMAURYA
Midnifty Intraday Analysis for 07th February 2025NSE:NIFTY_MID_SELECT Index closed near 11975 level and Maximum Call and Put Writing near CMP as below in February Month contract: Call Writing 12000 Strike – 5.10 Lakh 12200 Strike – 2.49 Lakh 11800 Strike – 2.18 Lakh Put Writing 11800 Strike – 3.44 Lakh 12000 Strike – 3.18 Lakh 12100 Strike – 1.82 Lakh Index has immediate resistance near 12150 – 12220 range and if index crosses and sustains above this level then may reach 12350 – 12400 range. Index has immediate support near 11850 – 11800 range and if this support is broken then index may tank near 11700– 11650 range.
NSE:NIFTY_MID_SELECT
by RKMAURYA
BankNifty levels - Feb 10, 2025Utilizing 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 - Feb 10, 2025Nifty 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
Asian Paints: Oversold with Recovery Potential Topic Statement: Asian Paints has faced a sharp decline due to weak third-quarter results, but strong support levels suggest a potential recovery ahead. Key Points: 1. The company reported a profit decline of 23.5% QoQ in the third quarter. 2. The stock price fell sharply, creating a gap after the earnings announcement. 3. The price is taking heavy support at the 61.8% retracement level at 2260. 4. The stock is overextended below the 180-day moving average, making it highly oversold. 5. The weekly MFI is at 22, further confirming oversold conditions.
NSE:ASIANPAINTLong
by yogeshwar
DIVISLAB Flag and Pole FormationTrade Setup Entry Level: ₹6,336 🚀 Stop Loss (SL): ₹5,323 (Closing Basis) SL Percentage: -16.01% 📉 Target Levels: T1 (Positional Target): ₹7,404 (+16.88%) 🎯 Risk-to-Reward (R:R): 1:1⚖️ Technical Highlights 📌 Flag & Pole: The stock shows a strong flag and pole pattern, indicating bullish potential. 📌 Key DMAs: Trading comfortably above key moving averages (DMAs), adding strength to the setup. 📌 Pullback Bounce: Well-supported bounce after pullbacks. 📌 Volume: Needs improvement for stronger confirmation. 📌 RSI: Decent, supportive of the setup. Key Strategy ⚡ Wait for Volume Confirmation: Entry should be accompanied by increasing volumes to ensure breakout sustainability. ⚡ Tight Monitoring: Since the R:R is moderate, ensure disciplined adherence to the SL. ⚡ Partial Booking at ₹7,000: Optional for risk reduction before T1. Risks: 1️⃣ Volume Concern: Weak volume might fail to sustain breakout. 2️⃣ Broader Market Trends: Adverse market movements may impact performance despite strong technicals. 💬 Execute cautiously, and ensure disciplined trading! ⚠ Disclaimer: This is for educational purposes and not financial advice. Please consult your advisor before trading.
NSE:DIVISLABLong
by sagartharayil
Nifty Intraday Analysis for 06th February 2025NSE:NIFTY Index closed near 23695 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 24000 Strike – 165.67 Lakh 23700 Strike – 129.92 Lakh 23800 Strike – 125.83 Lakh Put Writing 23000 Strike – 130.84 Lakh 23500 Strike – 126.02 Lakh 23200 Strike – 84.29 Lakh Index has resistance near 23800 - 23850 range and if index crosses and sustains above this level then may reach near 24050 - 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 06th February 2025NSE:BANKNIFTY Index closed near 50345 level and Maximum Call and Put Writing near CMP as below in February Month contract: Call Writing 51000 Strike – 9.92 Lakh 50000 Strike – 8.14 Lakh 50500 Strike – 6.19 Lakh Put Writing 49000 Strike – 13.48 Lakh 50000 Strike – 9.89 Lakh 49500 Strike – 6.22 Lakh Index has resistance near 50700 – 50800 range and if index crosses and sustains above this level then may reach near 51400 – 51500 range. Index has immediate support near 49700 - 49600 range and if this support is broken then index may tank near 48900 - 48800 range.
NSE:BANKNIFTY
by RKMAURYA
Finnifty Intraday Analysis for 06th February 2025NSE:CNXFINANCE Index closed near 23665 level and Maximum Call and Put Writing near CMP as below in February Month contract: Call Writing 23500 Strike – 0.53 Lakh 24000 Strike – 0.50 Lakh 23400 Strike – 0.37 Lakh Put Writing 23000 Strike – 0.65 Lakh 23500 Strike – 0.39 Lakh 23100 Strike – 0.31 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 23300 – 23250 range.
NSE:CNXFINANCE
by RKMAURYA
Midnifty Intraday Analysis for 06th February 2025NSE:NIFTY_MID_SELECT Index closed near 12095 level and Maximum Call and Put Writing near CMP as below in February Month contract: Call Writing 12500 Strike – 5.04 Lakh 12000 Strike – 4.62 Lakh 12200 Strike – 2.22 Lakh Put Writing 11800 Strike – 4.05 Lakh 12000 Strike – 3.41 Lakh 12100 Strike – 1.60 Lakh Index has immediate resistance near 12200 – 12250 range and if index crosses and sustains above this level then may reach 12400 – 12450 range. Index has immediate support near 11950 – 11900 range and if this support is broken then index may tank near 11800– 11750 range.
NSE:NIFTY_MID_SELECT
by RKMAURYA
Senores Pharmaceuticals IPO Base BreakouAnalysis: Senores Pharmaceuticals Structure: IPO Base Breakout 🌟 Entry: Above ₹610 (preferably on a closing basis) Stop Loss (SL): ₹499 (Closing Basis) ❗ SL Percentage: -18.20% 📉 Target Levels: T1: ₹849 (+39.18%) 🎯 Risk-to-Reward (R:R): 1:2.15 ⚖️ Technical Highlights: 📌 Volume Surge: Today's volume is 2x-3x higher than previous sessions, indicating strong interest. 📌 Price Action: Candle traded right at the All-Time High (ATH) but didn’t close above it. Pharma sector is holding up despite the broader market correction. 📌 Market Condition: Risky Setup: Trading against the trend as Nifty remains below 200 DMA and 50 DMA. Overall market structure is still weak, increasing the probability of a big fall. Key Strategy: ⚡ Buy Small Quantity: At breakout levels; wait for a potential retest to add more. ⚡ Position Sizing is Key: Due to the deep SL, risk management is crucial. ⚡ Discipline Required: Avoid emotional trading in such setups. Risks: 1️⃣ Nifty Weakness: Broader market correction can weigh on individual stocks. 2️⃣ Trend Reversal: Pharma sector performance is not guaranteed to sustain in this correction. 💬 Trade Safe and Stay Disciplined! ⚠ Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always consult with a qualified financial advisor before making any investment decisions.
NSE:SENORESLong
by sagartharayil
BankNifty levels - Feb 07, 2025Utilizing 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 - Feb 07, 2025Nifty 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
Nifty 50 Ready for 24200?📊 Nifty 50 Daily Analysis 🔸 Current Resistance: Nifty is facing resistance at the 50 DMA and the top of the wedge pattern. 🔸 Market Structure: The structure remains Lower Highs (LH) and Lower Lows (LL), keeping the bearish trend intact. 🔸 Key Support Levels: Pivot 1: 23,534 (must hold for bullish momentum). Recent Swing Low: 22,783 (breaking this could push Nifty down to 21,800). 🔸 Upside Potential: If Nifty consolidates tightly above Pivot 1 with small candles, a breakout could happen with target 24,200. However, expect challenges with multiple resistances ahead. ⚠️ Challenges to the Uptrend: Average corporate earnings may limit optimism. Global factors like yields and economic data could act as headwinds. Nifty is below 50 and 200 DMAs, signaling weak sentiment. 📅 Key Upcoming Events: RBI Policy Meeting: Interest rate decisions 🏦 US Non-Farm Payroll Data: Impacting global flows 📈 Quarterly Earnings: Heavyweights’ performance 🏢 Budget Announcements: Fiscal policy insights 🗂️ Global Factors: Fed updates and crude oil trends 🌎 MSCI Index Rebalancing Summary: ✔️ Bullish View: A breakout above Pivot 1 may lead to 24,200. ❌ Bearish View: Breaking 22,783 increases the chances of a drop to 21,800. 👉 Nifty's upward journey won’t be smooth, so trade cautiously.
NSE:NIFTY
by sagartharayil
Bajaj Healthcare - Fresh Opportunity for Upside Move! 📈 Bajaj Healthcare - Fresh Opportunity for Upside Move! 🚀 🔍 Key Observations: Stock is forming a CNH (Continuation Narrowing Pattern) on the daily timeframe. Broke out of a 3-year-old trading range on 18th Dec 2023. Consolidating in a narrow range since 19th Dec 2023. Volume confirmation (3x-5x) and a strong candle needed for breakout confirmation. Broader markets are still in a weak structure (LL-LH), so trade cautiously. 🎯 Trade Setup: Entry: Above 717 (Breakout level). Stop Loss (SL): Closing below 595 (17.01% risk). Target 1 (Positional): 942 (31.38% reward). 📊 Risk-Reward (RR): RR Ratio: 1:1.8 💡 Trading Strategy: Initial Entry: Buy above 717 with a small test quantity (limit position size). Add More: On breakout and retest (if it occurs). Overall Position Size: Keep it low as we are trading against the broader market trend. Wait for Confirmation: Broader markets need to show signs of reversal (closing above 50-200 DMAs) for scaling in further. ⚠️ Disclaimer: This is not investment advice. Trade at your own risk. The broader market is still in a weak structure (LL-LH), and the probability of failure is high. Always use proper risk management and limit position size. Past performance is not indicative of future results. 📌 Key Takeaways: CNH pattern suggests a potential breakout. Volume confirmation is critical for validity. Trade cautiously in a weak market environment. RR of 1:1.8 offers a favorable setup if the breakout sustains. 🚨 Final Note: Personally, I will scale in only when the broader markets show signs of reversal (closing above 50-200 DMAs). Until then, trade lightly and stay disciplined!
NSE:BAJAJHCARELong
by sagartharayil
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