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Support and Resistance

Nifty levels - Jan 27, 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
Persistent Systems: A Promising Opportunity?Persistent Systems is currently trading in an ascending channel, indicating an ongoing uptrend 📈. After correcting nearly 20% from its all-time high (ATH)—which coincided with the channel top—it has now broken above a key trendline with strong volume and a wide-range bullish candle 💪. 📊 Key Technical Analysis: 🎯 Entry: ₹6,365 ⛔ Stop Loss (SL): ₹5,538 (closing basis) 🏁 Targets:T1 (Previous ATH): ₹6,790 (+7%) Positional Target: ₹7,681 (+21%) Long-Term Target: ₹9,094 (+43%) 📌 Technical Highlights: 1⃣Persistent has bounced back from the 50 DMA, showing strong respect for this critical support level 2⃣Closed above the 50 DMA with a strong bullish candle (minimal upper wick, significant volume). 3⃣Trendline Breakout 4⃣RSI is rising, indicating upward momentum. 5⃣Channel top could act as resistance—keep an eye on price action near T1 levels. 🧮 Position Sizing:Start with 20-30% of your planned allocation at ₹6,365. If ₹6,790 is broken with volume, consider adding more. Partial profits can be booked at T1, with the remainder trailed for higher targets. ⚠️ Respect the SL (Stop Loss), as it represents a 12.45% risk. 📈 Why Persistent Systems Looks Attractive for Long-Term Consideration: 1. 🌟 Growth Drivers: AI Integration: AI is a core focus for Persistent’s growth strategy, with significant investments in AI-driven solutions 🤖. Strategic Acquisitions: Acquisitions like Starfish Associates (contact center modernization) and Arrka (digital governance and AI cybersecurity) enhance Persistent’s offerings. 📊 Revenue Momentum: The company has reported 18 consecutive quarters of revenue growth, recently achieving a robust 18.4% YoY increase. 🏆 Industry Recognition: Named the fastest-growing IT services brand in the 2024 Brand Finance India 100 report, highlighting its competitive edge. 2. 🛠️ Expansion Plans: Focused on AI-led, platform-driven services to drive innovative solutions for clients. Strengthened executive leadership to support non-linear growth through mergers, acquisitions, and large deals. 3. 💹 Respecting Key Support Levels: Persistent has consistently respected the 50 DMA, a strong indicator of investor confidence and support at this level. These factors, coupled with the company’s strategic focus on AI and consistent execution, make Persistent Systems an attractive consideration for long-term investment. 🌍 Broader Sector Context: The IT sector is holding up well despite market volatility, and Persistent’s positioning in emerging technologies like AI ensures it is aligned with future trends 🔮. 💡 Final Thoughts: This trade is against the trend, so trade light and manage risk effectively ⚖️. The channel top could pose resistance, but the overall structure and long-term prospects are promising. The probability of trades failing is high when the market is in a downward trend. Please keep that in mind. If you find this analysis insightful, like and share to help others make informed decisions 👍. Follow me for more educational trading ideas and detailed stock analysis 📚. ❗ Disclaimer: This is for educational purposes only. Please consult with your financial advisor before making any trading or investment decisions.
NSE:PERSISTENTLong
by sagartharayil
Nifty Intraday Analysis for 23rd January 2025NSE:NIFTY Index closed near 23155 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 23500 Strike – 113.11 Lakh 23300 Strike – 94.40 Lakh 23200 Strike – 84.95 Lakh Put Writing 22300 Strike – 113.58 Lakh 23100 Strike – 84.76 Lakh 22900 Strike – 55.47 Lakh Index has resistance near 23200 - 23250 range and if index crosses and sustains above this level then may reach near 234350 - 23400 range. Index has immediate support near 23000 – 22950 range and if this support is broken then index may tank near 22800 – 22750 range.
NSE:NIFTY
by RKMAURYA
Banknifty Intraday Analysis for 23rd January 2025NSE:BANKNIFTY Index closed near 48725 level and Maximum Call and Put Writing near CMP as below in January Month contract: Call Writing 50000 Strike – 22.14 Lakh 49000 Strike – 15.82 Lakh 49500 Strike – 15.41 Lakh Put Writing 48000 Strike – 13.69 Lakh 48500 Strike – 9.93 Lakh 49000 Strike – 8.94 Lakh Index has resistance near 49000 – 49100 range and if index crosses and sustains above this level then may reach near 49600 – 49700 range. Index has immediate support near 48000 - 47900 range and if this support is broken then index may tank near 47500 - 47400 range.
NSE:BANKNIFTY
by RKMAURYA
Finnifty Intraday Analysis for 23rd January 2025NSE:CNXFINANCE Index closed near 22650 level and Maximum Call and Put Writing near CMP as below in January Month contract: Call Writing 23000 Strike – 2.13 Lakh 22700 Strike – 0.89 Lakh 23800 Strike – 0.71 Lakh Put Writing 22000 Strike – 1.35 Lakh 22500 Strike – 1.27 Lakh 23300 Strike – 0.95 Lakh Index has resistance near 22700 - 22750 range and if index crosses and sustains above this level then may reach near 22900 - 22950 range. Index has immediate support near 22400 – 22350 range and if this support is broken then index may tank near 22200 – 22150 range.
NSE:CNXFINANCE
by RKMAURYA
Midnifty Intraday Analysis for 23rd January 2025NSE:NIFTY_MID_SELECT Index closed near 11920 level and Maximum Call and Put Writing near CMP as below in January Month contract: Call Writing 12000 Strike – 7.98 Lakh 12200 Strike – 4.91 Lakh 12100 Strike – 3.54 Lakh Put Writing 11800 Strike – 6.93 Lakh 12000 Strike – 6.76 Lakh 11900 Strike – 3.77 Lakh Index has immediate resistance near 12150 – 12200 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 Intraday Support & Resistance Levels for 24.01.2025On Thursday, BankNifty saw a subdued session, opening flat to positive but struggling to sustain higher levels. It made a low of 48,493 during the first 30 minutes, rallied to a day high of 48,892.70, and then traded sideways for most of the session. As the day ended, it dipped near the day’s low and closed at 48,589, losing 135 points over the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is negative. Demand/Support Zones Near Minor Demand/Support Zone (5m): 48,074.05 - 48,171.10 Far Support: 46,077.85 (Low of 4th June 2024) Far Demand/Support Zone (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones Near Supply/Resistance Zone (Daily): 49,230.15 - 50,447.60 (tested multiple times) Near Supply/Resistance Zone (75m): 49,787.70 - 49,979.05 (inside the Daily supply zone) Far Supply/Resistance Zone (Weekly): 50,485.05 - 51,979.75 Far Supply/Resistance Zone (75m): 50,904.35 - 51,088.90 (inside the Weekly supply zone) Outlook BankNifty continues to struggle around the 48,500 levels, indicating a lack of strong buying momentum. However, the 48,000 - 48,100 demand zone might provide support in the short term. On the upside, resistance around 49,200 - 49,800 needs to be breached for any sustained rally.
NSE:BANKNIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 24.01.2025On Thursday, Nifty witnessed a steady session, opening flat to negative but finding support at 23,090.65 during the first 15 minutes. From there, it rallied to a day high of 23,270.80 before closing at 23,215.20, gaining 50 points over the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is still negative. Demand/Support Zones Near Demand/Support Zone (5m): 23,100.20 - 23,127.45 Near Demand/Support Zone (15m): 22,986 - 23,029.55 Far Demand/Support Zone (Daily): 21,791.95 - 22,910.15 Supply/Resistance Zones Near Supply/Resistance Zone (5m): 23,349.20 - 23,421.25 Near Supply/Resistance Zone (Daily): 23,496.15 - 23,795.20 Far Supply/Resistance Zone (75m): 23,645.05 - 23,726.85 (inside the Daily Supply Zone) Far Supply/Resistance Zone (Daily): 23,976 - 24,196.45 Outlook Nifty’s ability to hold the 23,100 support zone indicates resilience, while on upper side, resistance around 23,350 - 23,400 could pose a challenge for further upside. A breakout above 23,500 may signal a move toward higher resistance levels near 23,650 - 23,800.
NSE:NIFTY
by PriteshPalan
BankNifty levels - Jan 24, 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 - Jan 24, 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
Zensar Technologies W pattern Breakout. 🚨 Zensar Technologies Trade Alert 🚨 🔍 Setup at a Glance: Pattern: W-pattern forming within a trading channel 📈 Breakout Level: ₹840 Support Zones: Channel support 200 DMA (holding since March 2024) Trend: Overall uptrend, trading above key DMAs ✅ Volume: 🚀 2x-3x higher than previous sessions today! RSI: Strong and supportive – signaling momentum. 💡 Trading Plan: Entry: Above ₹840 (start small; e.g., buy just 10% of your usual quantity). If the stock closes above ₹840, you can consider adding more. Target (T1): ₹1025 (channel top) – +21% upside potential 🎯 Stop Loss (SL): ₹709 – -16% downside risk 🔻 Risk-Reward Ratio (RR): ⚖️ 1:1.3 ⚠️ Key Risks & Considerations: Market Structure: Currently in a Lower High - Higher Low (LH-HL) sequence. This trade goes against the broader trend – a higher probability of failure! Why Consider It? Exceptional volume and strong RSI, combined with a well-defined W-pattern and breakout level, make this setup compelling. 🚦 Risk Management Tip: Example Position Sizing: If you usually buy 100 shares, start with only 10 shares initially. ⚠️ Disclaimer: This analysis is for educational purposes only. Please assess your own risk tolerance and consult with a financial advisor before trading. 📘 💬 What’s your view on Zensar? Let’s discuss in the comments below! 👇
NSE:ZENSARTECHLong
by sagartharayil
10
Nifty ready for bounce. Buy SpottedOn Higher time frame, Nifty has taken support at 0.61 Fib (23k) Retracement of the Election Rally from 22k to 26k. If Nifty Holds this level, it could trigger a Short Covering taking Nifty to Major Resistance Levels at 23500 23800 24000 24200 24800 25000 Rejection from Any of These levels may resume the correction. If Sustains Above 25000, (Since it's a Monthly Candle Resistance) Then Next Rally may Begin.. This may be supported by inline earnings reports or better than expected earnings and Budget!
NSE:NIFTYLong
by DrAnandM
TNPL Price Analysis Support: Horizontal green dotted lines at 158.21 and 168.50 mark previous price levels where the market showed buying interest. Resistance: Horizontal red line near 240.00 marks a level where the price faced selling pressure in the past. Summary of the Trade Setup Trade Type: Long (buy). Entry Price: Around 199.48. Stop Loss: Near 173.60. Take Profit: Near 299.35. Risk: Small downside to the stop loss. Reward: Large potential upside to the take profit level. The trade aims for a significant price increase while risking a relatively small amount, providing a favorable risk-to-reward opportunity.
NSE:TNPLLong
by iVishalPal