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Support and Resistance

Nifty Support&Resistance for 12th Dec Thursday Expiry Nifty been trading in very tight range this week until breakout or breakdown happens expecting this week to close in range. Key levels to watch for : 24750 and 24550 Resistance :- Above 24750 if sustains long for the targets of 24820,24850,24900 and 25k area and watch for any reversal pattern at same 24750 area to short. Support:- Below 24550 area if sustains below short for the targets of 24500,24425,24350. And same look for rejection at 24550 area here if happens long probability also there. Educational purpose do your own research before taking entries.
NSE:NIFTY
by rakeshreddym
Market Analysis: Nifty 50 Price ActionThe NSE:NIFTY is currently exhibiting a tug-of-war between key levels, retracing from a previous selloff zone that acted as resistance. Notably, it found support at a previous supply turned demand zone. These zones have defined the market's boundaries in today's session, with price movements constrained within them. For the past three sessions, the index has shown signs of consolidation, reflecting indecision among market participants. A breakout above the resistance zone could signal a continuation of the uptrend in NSE:NIFTY , while a breakdown below the demand zone may suggest a reversal or further bearish sentiment. Key Scenarios for Tomorrow: Breakout Scenario: A sustained move above the selloff zone could trigger bullish momentum, attracting fresh buying interest and potentially setting higher targets. Breakdown Scenario: If the demand zone is broken, it may open doors for further downside, with the next support levels coming into focus. Continued Consolidation: The market may remain range-bound as it digests prior moves, awaiting clearer cues from global or domestic events. Disclaimer This analysis is for educational and informational purposes only and should not be considered as financial advice. Market conditions are subject to change, and you should consult with a certified financial advisor or conduct your research before making investment decisions. Past performance is not indicative of future results. Trade responsibly.
NSE:NIFTY
by Stable_Logic
1
WLDUSDT on the Verge of a Breakout or Breakdown?Yello Paradisers! WLDUSDT is shaping up nicely, showing a bullish I-CHoCH (Internal Change of Character) after taking inducement and bouncing off a supportive trendline and key support zone. These factors significantly increase the probability of an upcoming bullish move. 💎However, it’s critical to keep an eye on potential retracements. If WLDUSDT retraces from its current level, we can anticipate a bounce from the support zone. To confirm this bullish outlook, we need to see a bullish I-CHoCH forming on lower timeframes—this will boost confidence in the move. 💎That said, discipline is key. If the price breaks down and closes candle below the support zone, this will invalidate the bullish idea entirely. In such a case, it’s better to step aside and wait for stronger price action to develop before taking further action. 🎖The key to consistent profitability is patience and waiting for high-probability setups. Stay disciplined and let the market come to you, Paradisers. Avoid chasing trades, and always stick to a robust strategy. That’s the only way to thrive in the long term! MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise_Nathan
professional trading mindsetThey are disciplined in their trading and can view the market objectively, regardless of how current market action is affecting their account balance. They don't give in to being excessively excited about winning trades or excessively despairing about losing trades. Stick to Your Discipline. ... Lose the Crowd. ... Engage Your Trading Plan. ... Don't Cut Corners. ... Avoid the Obvious. ... Don't Break Your Rules. ... Avoid Market Gurus. ... Use Your Intuition.
NSE:NIFTYEducation
by SkyTradingZone
3
Nifty Intraday Analysis for 12th December 2024NSE:NIFTY Index closed near 24640 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 24700 Strike – 146.50 Lakh 25000 Strike – 145.21 Lakh 24600 Strike – 102.78 Lakh Put Writing 24000 Strike – 110.82 Lakh 24500 Strike – 109.43 Lakh 24600 Strike – 99.69 Lakh Index has resistance near 24700 – 24750 range and if index crosses and sustains above this level then may reach near 24900 - 24950 range. Index has immediate support near 24500 – 24450 range and if this support is broken then index may tank near 24300 – 24250 range.
NSE:NIFTYLong
by RKMAURYA
Banknifty Intraday Analysis for 12th December 2024NSE:BANKNIFTY Index closed near 53390 level and Maximum Call and Put Writing near CMP as below in December Month contract: Call Writing 54000 Strike – 24.48 Lakh 53500 Strike – 17.31 Lakh 54500 Strike – 15.87 Lakh Put Writing 52500 Strike – 17.66 Lakh 53500 Strike – 17.53 Lakh 53000 Strike – 13.71 Lakh Index has resistance near 53800 – 54000 range and if index crosses and sustains above this level then may reach near 54500 – 54600 range. Index has immediate support near 52900 - 52800 range and if this support is broken then index may tank near 52500 - 52400 range.
NSE:BANKNIFTYLong
by RKMAURYA
Finnifty Intraday Analysis for 12th December 2024NSE:CNXFINANCE Index closed near 24805 level and Maximum Call and Put Writing near CMP as below in December Month contract: Call Writing 25000 Strike – 2.58 Lakh 24800 Strike – 1.16 Lakh 24700 Strike – 1.09 Lakh Put Writing 24800 Strike – 1.25 Lakh 24700 Strike – 1.17 Lakh 24500 Strike – 0.75 Lakh Index has resistance near 24900 - 24950 range and if index crosses and sustains above this level then may reach near 25100 - 25150 range. Index has immediate support near 24700 – 24650 range and if this support is broken then index may tank near 24550 – 24500 range.
NSE:CNXFINANCELong
by RKMAURYA
Midnifty Intraday Analysis for 12th December 2024NSE:NIFTY_MID_SELECT Index closed near 13135 level and Maximum Call and Put Writing near CMP as below in December Month contract: Call Writing 13000 Strike – 7.22 Lakh 13300 Strike – 2.70 Lakh 13200 Strike – 2.17 Lakh Put Writing 13000 Strike –8.00 Lakh 13100 Strike – 2.34 Lakh 12900 Strike – 2.13 Lakh Index has immediate resistance near 13200 – 13225 range and if index crosses and sustains above this level then may reach 13400 – 13450 range. Index has immediate support near 13075 – 13025 range and if this support is broken then index may tank near 12900 – 12850 range.
NSE:NIFTY_MID_SELECTLong
by RKMAURYA
Nifty levels - Dec 13, 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
BankNifty levels - Dec 13, 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
HEG Weekly Chart Analysis Key Observations: 1.Resistance Zone at ₹550: ->The stock has been testing the ₹550 resistance level for an extended period. ->Recent attempts to break above this level were accompanied by strong volumes but faced selling pressure, leading to a pullback. 2.Uptrend Supported by Trendline: ->The stock is respecting a long-term upward sloping trendline, currently providing support near ₹400–₹420 levels. ->This indicates a medium-term bullish structure. 3.Consolidation in Range: ->HEG has been consolidating in a wide range of ₹400 to ₹550 for a significant time. ->This could be forming a potential Ascending Triangle pattern—a bullish continuation structure. 4.Volume Analysis: ->High volumes during the breakout attempts signal strong participation, but the inability to sustain above ₹550 suggests profit-booking at higher levels. Trading Plan: 1.Breakout Opportunity: ->A decisive close above ₹550–₹560 with strong volumes can trigger a bullish breakout. Potential upside targets: ₹650–₹700, based on the triangle pattern height. 2.Support Buying: ->Accumulation near the trendline support at ₹400–₹420 could be a good entry point if the stock pulls back. 3.Risk Management: ->Place a stop-loss below ₹400 for long positions, as a break below this level may invalidate the bullish structure. 4.Indicators to Watch: ->Monitor RSI and MACD for confirmation of momentum during a breakout or potential divergences in the current move. Summary: HEG is showing strong consolidation near a critical resistance level. A breakout above ₹550 could lead to a fresh rally, while the trendline provides strong downside protection. Keep an eye on the price action and volume for confirmation! 📈🔥 What’s your take on HEG? Share your thoughts in the comments below! 😊
NSE:HEGLong
by TraderChhabra