Cyber Monday saleUp to 70% OFF

Support and Resistance

Nifty Intraday Support & Resistance Levels for 06.11.2024On Tuesday, Nifty opened on a weak note, dipping to a low of 23,842.75 before rallying to a high of 24,229.05. It closed at 24,213.30, up by 218 points from 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 (30m): 23,842.75 - 23,951.10 Near Demand/Support (Daily): 23,350 - 23,667.10 Extended Support: 23,189.88 (61.8% FIBO) Far Demand/Support (Daily): 22,642.60 - 22,910.15 Supply/Resistance Zones Near Supply/Resistance (75m): 24,280.20 - 24,368.25 Near Supply/Resistance (125m): 24,502.80 - 24,604.25 Additional Resistance (75m): 24,636.75 - 24,741.45 Extended Resistance (Daily): 24,664.95 - 24,978.30
NSE:NIFTY
by PriteshPal
#BANKNIFTY - 6TH NOVEMBER Support and resistance are key concepts in technical analysis used to identify potential price levels where assets may reverse or stall. Support: -Definition: A support level is a price point where buying interest is strong enough to overcome selling pressure, preventing the price from falling further. - Indicators: Support levels can be identified through historical price data, trend lines, or moving averages. - Behavior: When a price approaches support, it may bounce back up. If broken, it can become a new resistance level. Resistance: - Definition: A resistance level is a price point where selling interest is strong enough to overcome buying pressure, preventing the price from rising further. - Indicators: Similar to support, resistance levels can be identified through past price action, trend lines, or moving averages. - Behavior: When the price approaches resistance, it may retreat. If broken, it can turn into a new support level. Importance: - Trade Decisions: Traders use these levels to make buy or sell decisions, set stop-loss orders, and identify potential profit targets. - Market Psychology: Support and resistance levels reflect market sentiment and the balance between supply and demand. Understanding these concepts can enhance trading strategies and improve decision-making. Ps note : I'm not a SEBI Registere.
NSE:BANKNIFTY
by thetradeforecast
1
Nifty Bank _Election 2024 USHi traders, Currently Nifty Bank trading @ Support Zone @ which is 52207. Pros:- Master Candle @ Support Area which took nifty Bank almost 1200 points up from Intraday low. :- Positive news of US elections of Trump comeback. :- Major Financial stocks contributing for Nifty and bank nifty Rally. :- Go long In Dec-2024 futures & Options of Nov-2024 until opportunity gives at 52.2k Zone. :- Transaction data showing positive data before elections with irrespective of Election result in US. :- 200 SMA showing Added advantage. :- Minimal Risk margin. cons:- Anything may happen in Election results. Happy Trading!!Only for educational purpose.
NSE:BANKNIFTYLong
by Babujoseph77
NSE 50_Long Nifty 50Hi traders, Currently Nifty 50 trading Above Support Zone Above 24k which 24213. Pros:- Inside Candle @ Support Area which took nifty almost 350 points above from Intraday low. :- Positive news of US elections of Trump comeback. :- Major Financial and Metal sector contributing for Nifty Rally. :- Go long In Dec-2024 futures & Options of Nov-2024 until opportunity gives at 24k Zone. :- Transaction data showing positive data before elections with irrespective of Election result in US. :- Nifty fell almost2k points from All time highs. :- Minimal Risk margin. :- Index recovered from Q2 opening price. :- RSI indicator rose above 30 which gives add on advantage. cons:- Anything may happen in Election results. Happy Trading!!Only for educational purpose.
NSE:NIFTYLong
by Babujoseph77
Nifty Intraday Analysis for 05th November 2024NSE:NIFTY Index closed near 23995 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 24300 Strike – 58.53 Lakh 24500 Strike – 56.96 Lakh 24200 Strike – 41.33 Lakh Put Writing 24000 Strike – 45.83 Lakh 23500 Strike – 39.05 Lakh 24800 Strike – 24.16 Lakh Index has resistance near 24200 – 24250 range and if index crosses and sustains above this level then may reach near 24350 - 24450 range. Index has immediate support near 23800 – 23750 range and if this support is broken then index may tank near 23600 – 23500 range.
NSE:NIFTY
by RKMAURYA
Banknifty Intraday Analysis for 05th November 2024NSE:BANKNIFTY Index closed near 51215 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 52000 Strike – 31.69 Lakh 52500 Strike – 23.00 Lakh 53000 Strike – 22.40 Lakh Put Writing 51000 Strike – 13.17 Lakh 50200 Strike – 11.78 Lakh 50000 Strike – 11.00 Lakh Index has resistance near 51500 – 51600 range and if index crosses and sustains above this level then may reach near 51900 – 52000 range. Index has immediate support near 50900 - 50800 range and if this support is broken then index may tank near 50500 - 50400 range.
NSE:BANKNIFTY
by RKMAURYA
Finnifty Intraday Analysis for 05th November 2024NSE:CNXFINANCE Index closed near 23660 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 24000 Strike – 31.30 Lakh 24100 Strike – 25.21 Lakh 24200 Strike – 23.68 Lakh Put Writing 23000 Strike – 21.05 Lakh 23500 Strike – 15.77 Lakh 23200 Strike – 15.21 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 23300 – 23200 range.
NSE:CNXFINANCE
by RKMAURYA
Midnifty Intraday Analysis for 05th November 2024NSE:NIFTY_MID_SELECT Index closed near 12290 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 12300 Strike – 6.47 Lakh 12400 Strike – 1.52 Lakh 12500 Strike – 1.41 Lakh Put Writing 12300 Strike – 6.71 Lakh 12200 Strike – 2.22 Lakh 12000 Strike – 1.78 Lakh Index has immediate resistance near 12400 - 12450 range and if index crosses and sustains above this level then may reach 12550 – 12600 range. Index has immediate support near 12225 – 12175 range and if this support is broken then index may tank near 12050 – 12950 range.
NLong
by RKMAURYA
NMDC has announced bonus share and stock has given breakoutHello Everyone, i hope you all will be doing good in your life and your trading as well. Today i have brought another stock which has given breakout of falling trendline on the news of bonus share announcement. Stock is technically and fundamentally good company. I am expecting 30-35% rally in this. Stock is ready to fly in blue sky. NMDC is engaged in exploration and production of Iron Ore along with Diamond, production and sale of Sponge Iron and generation and sale of Wind Power. A Navratna company National Mineral Development Corporation (NMDC) was established in the year 1958 as a fully owned government company under the administrative control of the Ministry of steel and is one of the most profitable ones among the Navratna companies. Forward Integration NMDC is one of the world’s low-cost Iron ore producers and they have ventured into the steel-making business to benefit from their ability to procure Iron ore at a cheaper price. The company has procured 2000 Acres of land in Chattisgarh to set up a steel plant with a manufacturing capacity of 3 MTPA and the facility will be the largest Blast furnace in India with a capacity of 4506 Cum. Market Cap ₹ 68,796 Cr. Current Price ₹ 235 High / Low ₹ 286 / 160 Stock P/E 11.2 Book Value ₹ 87.5 Dividend Yield 3.11 % ROCE 30.9 % ROE 23.9 % Face Value ₹ 1.00 Industry PE 20.7 Debt ₹ 3,359 Cr. EPS ₹ 20.1 Promoter holding 60.8 % Intrinsic Value ₹ 470 Pledged percentage 0.00 % EVEBITDA 6.58 Change in Prom Hold 0.00 % Profit Var 5Yrs 4.67 % Sales growth 5Years 11.9 % Return over 5years 22.2 % Debt to equity 0.13 Net profit ₹ 5,887 Cr. ROE 5Yr 24.0 % Profit growth 23.1 % Earnings yield 15.2 % PEG Ratio 2.39 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.
NSE:NMDCLong
by TraderRahulPal
4
BankNifty levels - Nov 06, 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 - Nov 06, 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
#XAUUSD/H4 The big wave in the U.S. presidential election.Market analysis for XAUUSD trading during the European and American sessions: The price adjustment of gold is still ongoing; however, it has not yet broken through the sideways range of 2730 - 2750. If the price breaks below 2730, it will officially undergo a significant correction. The news regarding the Presidential and Congressional elections in the U.S. will have a strong impact on the market. Today's trading trend: SELL. Key price levels to note: SELL zone: 2740 - 2745, 2750 - 2755, and 2760 - 2765. BUY zone: 2715 - 2720, 2703 - 2708, and 2680 - 2685. Recommended orders: Plan 1: SELL XAUUSD zone 2743 - 2745 SL 2748 TP 2740 - 2730 - 2720 - 2685 Plan 2: SELL XAUUSD zone 2753 - 2755 SL 2758 TP 2750 - 2740 - 2730 - 2720. Plan 3: BUY XAUUSD zone 2706 - 2708 SL 2703 TP 2711 - 2720 - 2725 - 2730.
TVC:GOLD
by ifjugapt
BankNifty Intraday Support & Resistance Levels for 05.11.2024On Monday, BankNifty opened on a high note, with Open = High at 51,729.90, before dropping over 650 points to a low of 51,070.65. It closed at 51,215.25, down by 458 points from the previous close. Both the Weekly and Daily Trends (50 SMA) remain sideways, suggesting caution in both directions. Demand/Support Zones Near Minor Demand/Support (30m): 50,798.45 - 50,888.95 Near Minor Demand/Support (15m): 50,382.10 - 50,485.15 Far Demand/Support (Daily): 49,654.65 - 49,959.25 Extended Support: 49,282.65 (61.8% FIBO Level) Far Demand/Support (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones Near Supply/Resistance (30m): 51,634.50 - 51,793.50 Near Supply/Resistance (15m): 52,264.05 - 52,349.45 Extended Supply/Resistance (Daily): 52,817.80 - 53,235.25 Far Supply/Resistance (Weekly): 53,741.40 - 54,467.35
NSE:BANKNIFTY
by PriteshPal
Nifty Intraday Support & Resistance Levels for 05.11.2024On Monday, Nifty opened slightly negative and saw a sharp decline of nearly 500 points, reaching a low of 23,816.15 before closing at 23,995.35, down by 309 points from the previous close. With the Weekly Trend (50 SMA) sideways and the Daily Trend (50 SMA) negative, Nifty has broken below its weekly demand zone, indicating potential further downside. Any rise could present short-term selling opportunities. Demand/Support Zones Near Demand/Support (Daily): 23,350 - 23,667.10 Far Support: 23,189.88 (61.8% FIBO) Extended Demand/Support (Daily): 22,642.60 - 22,910.15 Supply/Resistance Zones Near Supply/Resistance (15m): 24,063.95 - 24,107.55 Near Supply/Resistance (30m): 24,280.20 - 24,356.25 Near Supply/Resistance (125m): 24,502.80 - 24,604.25 Extended Supply/Resistance (75m): 24,636.75 - 24,741.45 Extended Supply/Resistance (Daily): 24,664.95 - 24,978.30
NSE:NIFTY
by PriteshPal
Nifty Intraday Analysis for 04th November 2024NSE:NIFTY Index closed near 24304 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 24300 Strike – 38.91 Lakh 24500 Strike – 32.90 Lakh 24400 Strike – 26.96 Lakh Put Writing 24200 Strike – 30.41 Lakh 24000 Strike – 29.00 Lakh 24300 Strike – 24.94 Lakh Index has resistance near 24450 – 24500 range and if index crosses and sustains above this level then may reach near 24625 - 24675 range. Index has immediate support near 24150 – 24100 range and if this support is broken then index may tank near 24000 – 23950 range.
NSE:NIFTYLong
by RKMAURYA
Banknifty Intraday Analysis for 04th November 2024NSE:BANKNIFTY Index closed near 51675 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 53000 Strike – 21.03 Lakh 52000 Strike – 20.70 Lakh 52500 Strike – 18.70 Lakh Put Writing 51500 Strike – 10.11 Lakh 51000 Strike – 9.28 Lakh 52000 Strike – 6.97 Lakh Index has resistance near 52000 – 52200 range and if index crosses and sustains above this level then may reach near 52700 – 52900 range. Index has immediate support near 51200 - 51000 range and if this support is broken then index may tank near 50600 - 50500 range.
NSE:BANKNIFTYLong
by RKMAURYA
Finnifty Intraday Analysis for 04th November 2024NSE:CNXFINANCE Index closed near 23950 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 24300 Strike – 13.85 Lakh 24000 Strike – 12.53 Lakh 24200 Strike – 11.97 Lakh Put Writing 23500 Strike – 9.73 Lakh 23900 Strike – 5.98 Lakh 23600 Strike – 5.89 Lakh Index has resistance near 24150 - 24250 range and if index crosses and sustains above this level then may reach near 24350 - 24400 range. Index has immediate support near 23800 – 23750 range and if this support is broken then index may tank near 23650 – 23550 range.
NSE:CNXFINANCELong
by RKMAURYA
Midnifty Intraday Analysis for 04th November 2024NSE:NIFTY_MID_SELECT Index closed near 12400 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 12500 Strike – 24.63 Lakh 12600 Strike – 22.98 Lakh 12400 Strike – 22.54 Lakh Put Writing 12000 Strike – 25.85 Lakh 12300 Strike – 16.84 Lakh 12100 Strike – 13.67 Lakh Index has immediate resistance near 12550 - 12650 range and if index crosses and sustains above this level then may reach 12800 – 12850 range. Index has immediate support near 12250 – 12200 range and if this support is broken then index may tank near 12100 – 12000 range.
NLong
by RKMAURYA