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Support and Resistance

Nifty Intraday Analysis for 27th November 2024NSE:NIFTY Index closed near 24195 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 24500 Strike – 92.52 Lakh 24300 Strike – 81.50 Lakh 24400 Strike – 57.67 Lakh Put Writing 24000 Strike – 65.25 Lakh 24300 Strike – 51.09 Lakh 24200 Strike – 45.40 Lakh Index has resistance near 24300 – 24330 range and if index crosses and sustains above this level then may reach near 24450 - 24500 range. Index has immediate support near 24050 – 23950 range and if this support is broken then index may tank near 23850 – 23800 range.
NSE:NIFTY
by RKMAURYA
Banknifty Intraday Analysis for 27th November 2024NSE:BANKNIFTY Index closed near 52190 level and Maximum Call and Put Writing near CMP as below in current Monthly contract: Call Writing 53000 Strike – 31.41 Lakh 52500 Strike – 21.70 Lakh 52200 Strike – 20.57 Lakh Put Writing 51000 Strike – 31.80 Lakh 52000 Strike – 26.73 Lakh 51500 Strike – 20.16 Lakh Index has resistance near 52500 – 52600 range and if index crosses and sustains above this level then may reach near 53000 – 53200 range. Index has immediate support near 51650 - 51550 range and if this support is broken then index may tank near 51100 - 51000 range.
NSE:BANKNIFTYLong
by RKMAURYA
Finnifty Intraday Analysis for 27th November 2024NSE:CNXFINANCE Index closed near 24045 level and Maximum Call and Put Writing near CMP as below in December Month contract: Call Writing 24000 Strike – 0.63 Lakh 25000 Strike – 0.23 Lakh 24500 Strike – 0.11 Lakh Put Writing 24000 Strike – 0.75 Lakh 23000 Strike – 0.12 Lakh 23500 Strike – 0.09 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.
NSE:CNXFINANCELong
by RKMAURYA
Midnifty Intraday Analysis for 27th November 2024NSE:NIFTY_MID_SELECT Index closed near 12570 level and Maximum Call and Put Writing near CMP as below in December Month contract: Call Writing 13000 Strike – 1.75 Lakh 12600 Strike – 1.51 Lakh 12500 Strike – 1.04 Lakh Put Writing 12500 Strike – 1.52 Lakh 12600 Strike – 1.20 Lakh 12550 Strike – 0.44 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 12350 – 12300 range and if this support is broken then index may tank near 12200 – 12150 range.
NLong
by RKMAURYA
HDFC Bank Hits a New All-Time High HDFC Bank continues its stellar performance, achieving a new all-time high! 🌟 But the key now is sustainability above crucial support levels. 🔑 What to Watch: ✔️ Monitor price action around the breakout level. ✔️ Strong volume = solid buying interest. ✔️ Support zones will confirm stability for further uptrend. Patience is key—wait for a clear confirmation before taking action. The long-term growth story of HDFC Bank remains intact! 💼💰 #HDFCBank #StockMarket #NewHighs
NSE:HDFCBANKLong
by manojshinde27
Investment Idea Bharat Electronics Limited (BEL) BEL stock has been showing a strong uptrend over recent months, driven by consistent earnings growth and strategic government defense orders BEL, a leader in defense electronics, is perfectly positioned to benefit from India’s growing focus on self-reliance in defense manufacturing. With a strong order book, cutting-edge R&D, and robust financials, BEL offers: ✔️ Consistent Growth: Backed by government initiatives and modernization needs. ✔️ Dividend Returns: A track record of rewarding shareholders. ✔️ Long-Term Potential: Expanding into new markets like AI and space technologies. Invest in BEL today and watch your portfolio grow with India’s defense dreams! 🌟 #BEL #LongTermInvestment #StockMarket
NSE:BELLong
by manojshinde27
#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 :)
NSE:ANGELONELong
by thetradeforecast
1
#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.
NSE:NIFTY
by thetradeforecast
1
Will SOLUSDT’s Breakout Trigger the Next Bullish Wave?Yello Paradisers! SOLUSDT has delivered an impressive move, breaking out of a descending channel—commonly referred to as a bull flag in higher timeframes. This formation typically signals continuation after a period of consolidation, where the channel resembles a flag following a strong bullish pole. 💎If SOLUSDT retests the broken resistance zone and forms a bullish I-CHoCH (Internal Change of Character) in lower timeframes, this would significantly increase the probability of a continuation toward the next major resistance levels. 💎Should the market experience panic selling, patience will be crucial. Waiting for the price to reach the key support zone below could offer a potential bounce. However, to confirm this move, look for a bullish I-CHoCH to ensure higher confidence before entering any positions. 💎On the flip side, if SOLUSDT breaks below the support zone and closes a candle beneath it, this would invalidate the bullish scenario. In such a case, stepping back and waiting for a clearer, more favorable price action setup would be the wiser strategy. Trading in such a dynamic environment requires discipline and adaptability. React to the price action with caution, follow the levels and confirmations discussed, and avoid impulsive decisions. This market rewards patience and precision. Stay focused, and let the opportunities come to you! MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise_Nathan
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!
NSE:BANKNIFTY
by sacxe
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!
NSE:NIFTY
by sacxe
BEARISH FLAG IN BANK NIFTY - TIME FOR A SHORT TRADE ?Symbol - BANKNIFTY CMP 51350 BankNifty has turned its trend from bullish to bearish & sideways making lows - lows on daily time frame & It was trading in a bearish channel. We can see a Bearish Flag pattern getting formed in BankNifty. Such patterns on larger time frame don't usually fail. BankNifty is currently trading near break down trendline of this pattern. Breakdown & sustaining below this trendline zone 51150 - 51000 will get this pattern activated & we can see big target towards downside. Target on downside can be 47400 P.S. : My short position is already active from 51800 Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
NSE:BANKNIFTYShort
by akshit_official
3