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Support and Resistance

BankNifty levels - Jan 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 - Jan 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
IREDA Levels IREDA is currently trading at 230.55, and I am anticipating a bullish price movement. My initial target is 240.00, aligning with a significant previous quarter's high, which could act as a liquidity pool where buy-side orders may rest. A move to this level would suggest the market is efficiently drawing liquidity upward. My final target is 310.00, corresponding to the previous year's highs, representing a larger liquidity draw. Observing how price trades through these levels can provide insight into the market's delivery process and the institutional order flow. #IREDA
NSE:IREDALong
by EmpireCrown
ITI Technically looks Good. Potential stage 2 Underway.📈 Stock Analysis: Indian Telephone Industries Limited (ITI) - Daily Chart 📊 🟪Setup Overview: ➡️Entry Zone: ₹408.65 ➡️Current Price: ₹379.20 ➡️Stop Loss: ₹323.70 (Closing Basis)-Deep SL. Manage risk and position size properly. ➡️Target 1: ₹501.20 ➡️Probable Long-Term Target: ₹718.85 🟪Key Observations: ➡️Volume Spurt: Recent bullish candles are accompanied by notable volume spikes, indicating accumulation and strong buying interest. ➡️Range Breakout in Progress: The stock has been consolidating in a tight range for several months and is now showing signs of breaking out above the upper boundary. ➡️Technical Strength: The breakout aligns with a well-defined risk-reward setup. Higher volume near resistance increases the probability of a sustained move. ➡️Risk-Reward Ratio: With the stop-loss defined at ₹323.70 (closing basis), this setup offers a favorable risk reward for positional traders. ➡️Sectoral Support: ITI is part of a growing sector with robust demand potential, which adds a fundamental tailwind to this technical setup. 🟪Strategy: A decisive close above the Entry Zone (₹408.65) could trigger the next upward leg toward Target 1 (₹501.20). Long-term investors can look for a potential rally toward ₹718.85 if the trend sustains. Maintain strict discipline with the stop-loss to manage risk effectively. ⚠️Fundamentally very weak. ⚠️Still we are in a sell-on-rise market. ⚠️High Chances of breakouts failing. Once again reiterating the importance of risk management. 📢 Disclaimer: This analysis is for educational purposes only and should not be considered investment advice. Please do your own research before making any trading or investment decisions. 🙌
NSE:ITILong
by sagartharayil
EURUSD NEXT POSSIBLE MOVEHere’s a detailed description for today’s extended bearish view in EUR/USD: --- ### **Title** *"EUR/USD Intraday Outlook: Selling Pressure Persists | Dollar Strength Prevails"* #### **Market Context** *"EUR/USD continues its downward journey as bearish momentum dominates for another session. A stronger U.S. dollar, supported by hawkish Fed expectations and robust economic data, keeps the pair under pressure. Weak Eurozone sentiment adds to the bearish outlook."* #### **Technical Analysis** *"Today's sell view is backed by key technical signals: - **Trend Structure**: A series of lower highs and lower lows reaffirms the ongoing downtrend. #### **News Context** *"Upcoming: U.S. JOLTS Job Openings and Eurozone Retail Sales are key events to watch. Previous: Strong U.S. Consumer Confidence and hawkish Fed rhetoric continue to weigh on EUR/USD."* #### **Call to Action** *"Can EUR/USD break below key support, or will buyers emerge to halt the sell-off? Share your trading setups and views below!"*
Short
by svignesh7043
BankNifty Intraday Support & Resistance Levels for 06.01.2025On Friday, BankNifty opened flat to negative, reaching a high of 51,671.60 before facing intense selling pressure. The index failed to hold at the 15-minute demand zone, dropping sharply to a low of 50,904.35. It eventually closed at 50,988.80, losing 616 points over the previous close. The Weekly Trend (50 SMA) is sideways, while the Daily Trend (50 SMA) remains negative. Demand/Support Zones Near Minor Demand/Support Zone (15m): 50,800.50 - 50,890 Near Demand/Support Zone (15m): 50,485.05 - 50,629.65 Far Demand/Support Zone (Daily): 49,787.10 - 50,983.50 (tested) Far Support Level: 49,282.64 (61.8% FIBO retracement) Supply/Resistance Zones Near Supply/Resistance Zone (15m): 51,767.65 - 51,937.05 Near Supply/Resistance Zone (125m): 52,010.65 - 52,368.30 Far Supply/Resistance Zone (125m): 52,709.40 - 52,911.10 Far Supply/Resistance Zone (Weekly): 53,741.40 - 54,467.35 (tested)
NSE:BANKNIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 06.01.2025On Friday, Nifty opened flat and experienced a volatile session. It made a high of 24,196.45 but faced selling pressure from the daily supply zone, causing a drop to a low of 23,976. It closed at 24,004.75, losing 184 points compared to the previous close. Both the Weekly Trend and Daily Trend (50 SMA) remain sideways. Demand/Support Zones Near Demand/Support Zone (30m): 23,916.70 - 23,974.15 Near Demand/Support Zone (125m): 23,678.35 - 23,822.80 Far Support Level: 23,263 (low of 21st November 2024) Far Support Level: 23,189.88 (61.8% FIBO retracement) Far Demand/Support Zone (Daily): 21,791.95 - 22,910.15 Supply/Resistance Zones Near Supply/Resistance Zone (15m): 24,164.90 - 24,210.30 Near Supply/Resistance Zone (Daily): 24,149.85 - 24,394.45 (tested) Far Supply/Resistance Zone (Weekly): 24,567.65 - 25,234.05 (tested)
NSE:NIFTY
by PriteshPalan
how to draw support & resistance Support: Draw a horizontal line along the most recent low or lows where price reversed or consolidated. This will mark the support zone. Resistance: Draw a horizontal line along the most recent high or highs where price reversed or faced rejection. This will mark the resistance zone Support and resistance can be found in all charting time periods; daily, weekly, and monthly. Traders also find support and resistance in smaller time frames like one-minute and five-minute charts. But the longer the time period, the more significant the support or resistance.
NSE:HDFCBANKEducation
by SkyTradingZone
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