Support and Resistance
BankNifty levels - Nov 29, 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.
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Nifty levels - Nov 29, 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!
Option traders are quite confident that Nifty is not crossing 2K
NIFTY 25000 CE traded above 1800 at it's peak.
Since then, it has come so low.
In the last few days of nifty moving high, this option has not even crossed the DBBB or 20 SMA.
Option traders are betting that there is no chance for the Nifty to go over 25K by the end of December.
Nifty- A Bull Trap unfolding??
Is this a Bull Trap? Will Nifty Create a new ATH next year or will it come crashing down?
Scenario 1: Nifty breaks out of 25200, consolidates a bit and begins the upward journey.
Scenario 2: Nifty breaches 25200 and gets all the hapless retailers onboard the Bus before plummetting to 22000.
What are your thoughts? Which scenario is more likely to happen? Please comment your thoughts and opinions.
RGL resistance breakout stock has broken thier resistance good to hold for long
only for educational purpose
not for sugesstions
Nifty Intraday Support & Resistance Levels for 28.11.2024On Wednesday, Nifty opened flat and traded within a narrow range. It touched a low of 24145.65 and a high of 24354.55, eventually closing at 24274.90, up by 80 points from the previous close.
For the past three days, Nifty has been consolidating in the 24100 - 24350 range, signalling indecision. Both the Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain sideways, indicating the market is waiting for a breakout.
Demand/Support Zones
Near Demand/Support Zone (15m): 23856.15 - 23940.30
Near Demand/Support Zone (15m): 23661.75 - 23731.25
Far Demand/Support Zone (75m): 23447.15 - 23578.60
Near Support: 23189.88 (61.8% FIBO Level)
Far Demand/Support Zone (Daily): 22642.60 - 22910.15
Supply/Resistance Zones
Near Supply/Resistance Zone (75m): 24447.65 - 24537.60
Far Supply/Resistance Zone (Daily): 24567.65 - 24978.30 (inside weekly supply)
Far Supply/Resistance Zone (75m): 24636.75 - 24741.45 (inside Daily supply)
Far Supply/Resistance Zone (Weekly): 24567.65 - 25234.05
A breakout beyond 24350 or a breakdown below 24100 could set the tone for the next directional move.
DMART Trading Above Fresh Weekly Demand ZoneDMART is currently trading at ₹3661.25, above its demand zone between ₹3582.95 and ₹3530.05, identified on 1st September 2023. This fresh zone has not yet been tested, suggesting potential buying interest if the stock revisits this range. Investors may consider watching for a pullback to this zone for a potential buying opportunity near this support level.
Disclaimer: This analysis is for informational purposes only and should not be considered as financial advice. Please conduct your own research or consult a financial advisor before making any investment or trading decisions.
MAHLOG Trading Above Fresh Demand ZoneMAHLOG is currently trading at ₹385, slightly above its demand zone between ₹381.7 and ₹370.6, established on 15th February 2024. This fresh zone has not been tested, indicating potential buying interest if the price retraces to this range. Investors might consider monitoring for a pullback, which could present a buying opportunity at this support level.
Disclaimer: This analysis is for informational purposes only and should not be considered as financial advice. Please conduct your own research or consult a financial advisor before making any investment or trading decisions.
Banknifty Intraday Analysis for 28th November 2024NSE:BANKNIFTY
Index closed near 52300 level and Maximum Call and Put Writing near CMP as below in December Month contract:
Call Writing
53000 Strike – 8.33 Lakh
52500 Strike – 7.97 Lakh
52000 Strike – 6.00 Lakh
Put Writing
52000 Strike – 8.51 Lakh
52500 Strike – 5.71 Lakh
51500 Strike – 4.32 Lakh
Index has resistance near 52800 – 52900 range and if index crosses and sustains above this level then may reach near 53200 – 53300 range.
Index has immediate support near 51800 - 51700 range and if this support is broken then index may tank near 51200 - 51100 range.
Finnifty Intraday Analysis for 28th November 2024NSE:CNXFINANCE
Index closed near 24170 level and Maximum Call and Put Writing near CMP as below in December Month contract:
Call Writing
24000 Strike – 0.69 Lakh
24200 Strike – 0.35 Lakh
24500 Strike – 0.29 Lakh
Put Writing
24000 Strike – 1.26 Lakh
24100 Strike – 0.47 Lakh
24200 Strike – 0.44 Lakh
Index has resistance near 24250 - 24350 range and if index crosses and sustains above this level then may reach near 24500 - 24550 range.
However, Index has immediate support near 23750 – 23650 range and if this support is broken then index may tank near 23400 – 23300 range.
Midnifty Intraday Analysis for 28th November 2024NSE:NIFTY_MID_SELECT
Index closed near 12620 level and Maximum Call and Put Writing near CMP as below in December Month contract:
Call Writing
12600 Strike – 2.64 Lakh
13000 Strike – 1.98 Lakh
12500 Strike – 1.22 Lakh
Put Writing
12600 Strike – 3,02 Lakh
12500 Strike – 1.97 Lakh
12550 Strike – 0.77 Lakh
Index has immediate resistance near 12750 – 12800 range and if index crosses and sustains above this level then may reach 12950 – 13000 range.
Index has immediate support near 12450 – 12400 range and if this support is broken then index may tank near 12250 – 12200 range.
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Sarlapoly looks good at CMP. -Broke out of a base
-Volumes picking up.
Add at CMP and wait for a retest. Further addition or fresh entry is possible again if it breaks out from 120 level.
Watch the Price action at that level.
This is not a buy/sell reco. Please do your due diligence.
#Angelone - Stock outlook !!NSE:ANGELONE
Key Points:
Trends:
Two trendlines are plotted:
Upward trendline (dotted line): Displays the earlier uptrend in the stock's graph (higher lows).
Downward trendline (descending resistance): indicates the resistance level that forms when the stock starts to drop from its recent highs.
Important Information:
Support Level at ₹2701.45: This flat black line shows an important area where the stock went back up or stayed the same before. It's a strong place where buyers are active.
Resistance Zone at ₹3367.80 – ₹3393.00: It is the highest zone. It is the targeted range as indicated on the chart. This has been an important resistance in the context of previous price actions.
Fake-Out Indication:
There is a fake-out noted just below the horizontal support line of ₹2701.45. That means that the price did fall briefly below the support but quickly reverted, and hence the bearish breakout is not valid.
Breakout.
The stock seems to be going above the downward trendline, which could mean a possible upward breakout if it continues.
Future Expectations:
Bullish Scenario (Orange Rectangle): If the breakout stays above the downward trendline, it may drive the stock up to the resistance zone of ₹3367.80–₹3393.00.
Bearish Scenario (Arrow pointing down): If the breakout does not work and the price goes back below ₹2701.45, it might show a strong trend downward toward the next support levels (for example, ₹2025.00).
Explanation:
Trend Reversal:
Stock, breaking the downward trendline above indicates that the stock is on a changing pattern, from the decline, and probably into an uptrend.
Artifactual Meaning:
The fake-out close to ₹2701.45 shows how important support zones are. It shows that buyers took charge again after a first drop in price.
Possible Risk and Benefit:
Traders could expect a bounce towards the orange area, or resistance zone, if the breakout is valid. Stop-loss levels are likely set below ₹2701.45 to risk manage.
Useful Information:
For a bull trade, Wait for confirmation of the breakout, like the daily close above the trendline. Target: ₹3300–₹3393 range. Stop Loss: ₹ 2700. For a bearish trade: It could again begin a downtrend if prices go back into ₹2701.45. Target: ₹2300 or less. Stop Loss: Above ₹2800. This chart shows a mix of price movements with false signals, trendline breaks, and important levels. It gives positive and negative scenarios based on how the stock acts around these levels.
Ps note: NOT A SEBI REGISTERE.
ANY QUERIES @thetradeforecast :)
Engineers India offers good RR from this price level. -Good RR setup.
-Bouncing from a support level with Volume.
-Formed a bullish engulfing candle.
-Broke out of Trendline.
-Double Bottom at support level.
Overall, it's good for a swing.
This is not a Buy/Sell Recommendation. Please do your due diligence.
Risk- 15.4%
Reward: 29.8%
RR- 1:1.9
Bullish Pattern near ATHThe stock has take support from its long support and has retested at 652 mark.
Also retested the current support and formed a Bullish Candle Pattern.... Dragonfly at the top.
4 Year Consolidation Within 20% of Price BandThe stock is consolidation since Nov 20 within almost 20% range after a Bullish phase. YoY results are increasing profits and revenues. The Bank has been paying out good Dividents and no sign if underperforming is seen. A huge breakout after consolidation phase with min 20% CAGR in coming months is highly expected.
#nifty50 - 28th November!!NSE:NIFTY
Understand the chart, observe the chart, then implement 👍🏻
Chart contains support and resistance levels ( understand how it works 👇🏻)
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.
BankNifty levels - Nov 28, 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!
Nifty levels - Nov 28, 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!
Hi-Tech Pipes LtdHi-Tech Pipes Ltd
Positive divergence formed .
taken support at 160.
FII'S & DII'S increased their holdings....
BankNifty Intraday Support & Resistance Levels for 27.11.2024On Tuesday, BankNifty opened with a gap-up at 52555.50, which was also the day's high, breaking above the supply zone. However, it couldn’t sustain the momentum and dropped to a low of 51999.75, closing at 52191.50, down by 16 points from the previous close.
The Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain sideways. The Demand & Supply Zones are unchanged from the prior analysis.
Demand/Support Zones
Near Demand/Support Zone (30m): 51040.05 - 51271.50
Far Small Demand/Support Zone (15m): 50609.75 - 50824.55
Far Support: 49282.65 (61.8% FIBO Level)
Far Demand/Support Zone (Daily): 44633.85 - 45750.40
Supply/Resistance Zones
Near Supply/Resistance Zone (Daily): 51294.20 - 52493.95 (current price within this zone)
Far Supply/Resistance Zone (Daily): 52817.80 - 53235.25
Far Supply/Resistance Zone (Weekly): 53741.40 - 54467.35
