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Support and Resistance

#Nifty50 - 27th November NSE:NIFTY 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. Ps note: I'm not SEBI Registere 🙏🏻
NSE:NIFTY
by thetradeforecast
1
Reliance Support and Resistance Zones for Swing Trading Reliance Chart Analysis & Short term & Long Term Targets Support Levels Reliance Industries has a major support around ₹1200. The stock has taken support at this level twice. If it takes support here again, pay attention to the weekly candle closing. If the stock dips below ₹1200 during the budget time, wait for the price to close above ₹1200 again. Reliance Industries' extended support is around ₹1150. If Nifty comes near the 20,000 mark, Reliance may reach its second major support level near ₹1000. Resistance Levels The resistance for Reliance stock is at ₹1320. The major resistance is at ₹1620. Whenever the stock closes above this level on a weekly candle, the stock may witness a further rally. Reliance Trading and Investment Opportunities Short-Term Trading: Keep the ₹1200 and ₹1150 levels in mind to take a Long Position. The first short-term target is ₹1450. Trade with a stop-loss and a proper entry-exit plan. Long-Term Investors For long-term investors, this is also a good opportunity. Alternatively, you can wait for the upcoming budget. If the stock breaks its all-time high, there could be significant targets in the future.
NSE:RELIANCELong
by manojshinde27
JSB - Trend changing ?JSB - CURRENT PRICE : RM0.485 After finished its downtrend phase, the stock moves in sideways for 3 months (from OCTOBER 2024 until JANUARY 2025). Recently the share price starts to climbing up indicating some bullish scenario. However after a bad news related to the company published, the stock made a falling window (GAP DOWN) on 23 JANUARY 2025. Last Friday the stock managed to recover from the recent sell off and closed as a BULLISH PIERCING LINE. This shows that there is still buying interest in this stock. Based on JAPANESE CANDLESTICK CHARTING TECHNIQUES, falling window may acts as strong resistance level. In this case, RM0.500 may considered as a critical resistance level for this stock. As such, a breakout above RM0.500 , technically will trigger a buy signal at RM0.505 for CANDLESTICK traders. In conclusion, it is a pending breakout stock. ENTRY PRICE : RM0.505 TARGET : RM0.550 , RM0.595 STOP LOSS : RM0.465 (the low of BULLISH PIERCING LINE)
MYX:JSBLong
by IMRAN_96
BankNifty Intraday Support & Resistance Levels for 27.01.2025On Friday, BankNifty opened flat to negative and experienced a volatile session. It initially hit a low of 48,347.85, then rallied to the day’s high of 48,858.65 before declining sharply to a new low of 48,203 by the end of the day. The index closed at 48,367.80, losing 221 points compared to the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) continues to be negative. Demand/Support Zones Near Minor Demand/Support Zone (5m): 48,074.05 - 48,171.10 Far Support Zone: 46,077.85 (low from 4th June 2024) Far Demand/Support Zone (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones Near Supply/Resistance Zone (Daily): 49,230.15 - 50,447.60 (tested multiple times) Near Supply/Resistance Zone (75m): 49,787.70 - 49,979.05 (inside the Daily supply zone) Far Supply/Resistance Zone (Weekly): 50,485.05 - 51,979.75 Far Supply/Resistance Zone (75m): 50,904.35 - 51,088.90 (inside the Weekly supply zone) Outlook This marks the third consecutive week that BankNifty has closed below the crucial June 2024 election week closing levels, indicating persistent selling pressure. Unless BankNifty finds support in the 47,800–48,000 zone, further downside could unfold in the coming days. However, a breakout above 49,000 and sustained trading in that range could trigger a bullish move, targeting the 50,000–50,500 zone. With the Union Budget 2025 approaching, heightened volatility is expected. Trade cautiously and keep an eye on key levels!
NSE:BANKNIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 27.01.2025On Friday, Nifty opened on a positive note but witnessed significant volatility. It initially dipped to a low of 23,102.90, finding support at the 5m Demand Zone highlighted in the previous analysis. It then rallied to a day high of 23,347.30, nearing the 5m Supply Zone, before retreating sharply to a new day low of 23,050. The index closed at 23,092.20, losing 113 points from the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) stays negative. Demand/Support Zones Near Minor Demand/Support Zone (15m): 22,986 - 23,029.55 Far Demand/Support Zone (Daily): 21,791.95 - 22,910.15 Supply/Resistance Zones Near Supply/Resistance Zone (15m): 23,288.75 - 23,331.30 Near Supply/Resistance Zone (5m): 23,349.20 - 23,421.25 Near Supply/Resistance Zone (Daily): 23,496.15 - 23,795.20 Far Supply/Resistance Zone (75m): 23,645.05 - 23,726.85 Far Supply/Resistance Zone (Daily): 23,976 - 24,196.45 Outlook This marks the second consecutive week where Nifty closed below the critical June 2024 election week levels, signaling sustained selling pressure. Unless Nifty finds strong support in the 22,800–23,000 zone, further downside could be expected in the coming weeks. On the upside, major resistance lies at 23,400–23,800. A breakout above this range might indicate the start of a bullish trend. However, with the Union Budget 2025 on the horizon, caution is advised, as market volatility could spike.
NSE:NIFTY
by PriteshPalan
Nifty Intraday Analysis for 24th January 2025NSE:NIFTY Index closed near 23205 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 23500 Strike – 54.00 Lakh 23200 Strike – 41.75 Lakh 23300 Strike – 35.24 Lakh Put Writing 23000 Strike – 68.58 Lakh 23200 Strike – 40.68 Lakh 23300 Strike – 29.77 Lakh Index has resistance near 23250 - 23300 range and if index crosses and sustains above this level then may reach near 23400 - 23450 range. Index has immediate support near 23050 – 23000 range and if this support is broken then index may tank near 22850 – 22800 range.
NSE:NIFTY
by RKMAURYA
Banknifty Intraday Analysis for 24th January 2025NSE:BANKNIFTY Index closed near 48590 level and Maximum Call and Put Writing near CMP as below in January Month contract: Call Writing 49500 Strike – 26.00 Lakh 50000 Strike – 23.82 Lakh 49000 Strike – 16.94 Lakh Put Writing 47500 Strike – 17.61 Lakh 48000 Strike – 14.46 Lakh 48500 Strike – 10.15 Lakh Index has resistance near 49000 – 49100 range and if index crosses and sustains above this level then may reach near 49600 – 49700 range. Index has immediate support near 48000 - 47900 range and if this support is broken then index may tank near 47500 - 47400 range.
NSE:BANKNIFTY
by RKMAURYA
Finnifty Intraday Analysis for 24th January 2025NSE:CNXFINANCE Index closed near 22625 level and Maximum Call and Put Writing near CMP as below in January Month contract: Call Writing 23000 Strike – 2.48 Lakh 22700 Strike – 1.34 Lakh 23800 Strike – 1.03 Lakh Put Writing 22500 Strike – 1.40 Lakh 22600 Strike – 1.06 Lakh 22300 Strike – 0.98 Lakh Index has resistance near 22700 - 22750 range and if index crosses and sustains above this level then may reach near 22900 - 22950 range. Index has immediate support near 22400 – 22350 range and if this support is broken then index may tank near 22200 – 22150 range.
NSE:CNXFINANCE
by RKMAURYA
Midnifty Intraday Analysis for 24th January 2025NSE:NIFTY_MID_SELECT Index closed near 12175 level and Maximum Call and Put Writing near CMP as below in January Month contract: Call Writing 12200 Strike – 5.81 Lakh 12300 Strike – 5.59 Lakh 12400 Strike – 4.58 Lakh Put Writing 12000 Strike – 5.97 Lakh 12200 Strike – 4.53 Lakh 12100 Strike – 3.92 Lakh Index has immediate resistance near 12350 – 12400 range and if index crosses and sustains above this level then may reach 12550 – 12600 range. Index has immediate support near 11050 – 12000 range and if this support is broken then index may tank near 11850– 11800 range.
NSE:NIFTY_MID_SELECT
by RKMAURYA
Maharashtra Seamless [LONG] [ POSITIONAL | SWING ]Maharashtra Seamless Limited showcases strong fundamentals with consistent revenue growth, robust profitability, and prudent financial management. Its low debt levels and efficient operational metrics position the company well for sustained performance in the steel pipes and tubes industry. Maharashtra Seamless Limited (MSL) is a prominent Indian manufacturer of seamless and ERW (Electric Resistance Welded) steel pipes and tubes, catering to various sectors including oil and gas, power, and infrastructure. Below is a fundamental analysis of the company: Financial Performance: Revenue Growth: MSL has demonstrated consistent revenue growth over the years, reflecting its strong market position and demand for its products. Profitability: The company maintains healthy profitability ratios, with a gross margin of approximately 34.18% and an operating margin of around 15.93%. Key Financial Ratios: Price-to-Earnings (P/E) Ratio: As of the latest data, MSL's P/E ratio stands at approximately 10.18, indicating a reasonable valuation relative to its earnings. Price-to-Sales (P/S) Ratio: The P/S ratio is about 1.69, suggesting that investors are willing to pay ₹1.69 for every ₹1 of the company's sales. Return on Equity (ROE): MSL's ROE is approximately 15.19%, reflecting efficient utilization of shareholder funds to generate profits. Liquidity and Solvency: Current Ratio: The company exhibits strong liquidity with a current ratio of around 8.33, indicating its ability to cover short-term obligations. Debt-to-Equity Ratio: MSL maintains a conservative capital structure with a debt-to-equity ratio close to zero, highlighting its low reliance on debt financing. Operational Efficiency: Inventory Turnover: The inventory turnover ratio is approximately 2.54, suggesting efficient management of inventory levels. Asset Turnover: With an asset turnover ratio of about 0.79, MSL demonstrates its ability to generate revenue from its assets. Market Valuation: Market Capitalization: As of the latest data, MSL's market capitalization is approximately ₹69.56 billion, reflecting its size and market presence.
NSE:MAHSEAMLESLong
by parimal_
BankNifty levels - Jan 27, 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 27, 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
Persistent Systems: A Promising Opportunity?Persistent Systems is currently trading in an ascending channel, indicating an ongoing uptrend 📈. After correcting nearly 20% from its all-time high (ATH)—which coincided with the channel top—it has now broken above a key trendline with strong volume and a wide-range bullish candle 💪. 📊 Key Technical Analysis: 🎯 Entry: ₹6,365 ⛔ Stop Loss (SL): ₹5,538 (closing basis) 🏁 Targets:T1 (Previous ATH): ₹6,790 (+7%) Positional Target: ₹7,681 (+21%) Long-Term Target: ₹9,094 (+43%) 📌 Technical Highlights: 1⃣Persistent has bounced back from the 50 DMA, showing strong respect for this critical support level 2⃣Closed above the 50 DMA with a strong bullish candle (minimal upper wick, significant volume). 3⃣Trendline Breakout 4⃣RSI is rising, indicating upward momentum. 5⃣Channel top could act as resistance—keep an eye on price action near T1 levels. 🧮 Position Sizing:Start with 20-30% of your planned allocation at ₹6,365. If ₹6,790 is broken with volume, consider adding more. Partial profits can be booked at T1, with the remainder trailed for higher targets. ⚠️ Respect the SL (Stop Loss), as it represents a 12.45% risk. 📈 Why Persistent Systems Looks Attractive for Long-Term Consideration: 1. 🌟 Growth Drivers: AI Integration: AI is a core focus for Persistent’s growth strategy, with significant investments in AI-driven solutions 🤖. Strategic Acquisitions: Acquisitions like Starfish Associates (contact center modernization) and Arrka (digital governance and AI cybersecurity) enhance Persistent’s offerings. 📊 Revenue Momentum: The company has reported 18 consecutive quarters of revenue growth, recently achieving a robust 18.4% YoY increase. 🏆 Industry Recognition: Named the fastest-growing IT services brand in the 2024 Brand Finance India 100 report, highlighting its competitive edge. 2. 🛠️ Expansion Plans: Focused on AI-led, platform-driven services to drive innovative solutions for clients. Strengthened executive leadership to support non-linear growth through mergers, acquisitions, and large deals. 3. 💹 Respecting Key Support Levels: Persistent has consistently respected the 50 DMA, a strong indicator of investor confidence and support at this level. These factors, coupled with the company’s strategic focus on AI and consistent execution, make Persistent Systems an attractive consideration for long-term investment. 🌍 Broader Sector Context: The IT sector is holding up well despite market volatility, and Persistent’s positioning in emerging technologies like AI ensures it is aligned with future trends 🔮. 💡 Final Thoughts: This trade is against the trend, so trade light and manage risk effectively ⚖️. The channel top could pose resistance, but the overall structure and long-term prospects are promising. The probability of trades failing is high when the market is in a downward trend. Please keep that in mind. If you find this analysis insightful, like and share to help others make informed decisions 👍. Follow me for more educational trading ideas and detailed stock analysis 📚. ❗ Disclaimer: This is for educational purposes only. Please consult with your financial advisor before making any trading or investment decisions.
NSE:PERSISTENTLong
by sagartharayil
Muthoot Finance | VCP Pattern in Play Muthoot Finance | VCP Pattern in Play 🔍 Technical Overview 📈 Trend: Uptrend, trading within an ascending channel. 🔄 Pattern: Volatility Contraction Pattern (VCP) in progress, signaling potential explosive movement. 📉 Correction: The stock corrected ~15% during the recent market sell-off but rebounded strongly, re-entering the channel. It’s now only ~9% off its recent ATH, showcasing resilience. Key Levels to Watch ✅ Entry Point: Breakout above ₹2279 with strong volume and a wide-range candle. 🎯 Targets: T1: ₹2492 (R:R = 1:1) T2: ₹3200+ (post-market stabilization, aiming for R:R = 1:2) 🛡️ Stop Loss: ₹2067.9 (below the most recent swing low to manage risk). Strategy 1️⃣ Enter 30% position on a clean breakout above ₹2279. Wait for a retest and continuation to add the rest. 2️⃣ If the breakout is sharp and you miss the entry, wait for a retest and continuation before entering, do not enter in FOMO. 3️⃣ Once T1 is hit, book partial profits to lock in gains, given the weak market conditions. 4️⃣ Hold the remaining position as per your risk appetite and trail your SL to protect profits. Why This Stock? ⭐ Resilience: Despite the correction, Muthoot Finance re-entered the channel, showing strength against market headwinds. 📊 Strong Indicators: RSI is rising, signaling bullish momentum, and the VCP pattern suggests tightening volatility before a potential breakout. 📉 Controlled Drawdown: From its ATH, the stock fell just ~9%, demonstrating relative strength compared to the broader market. ⭐Trading above Key DMAs Key Risks to Consider ⚠️ Weak Market Conditions: Broader market trends remain bearish, trading below the 200 DMA, increasing the chance of a failed breakout. ⚠️ Volume Dependency: Strong breakout volume is essential to validate the pattern. ⚠️ Market Correlation: Any further market correction could pressure this trade setup and the probability of hitting the SL increases. So trade light. Who Should Trade This? 1️⃣Aggressive Traders: Can follow the breakout strategy with proper position sizing. 2️⃣Conservative Traders: Wait for market stabilization and a close of NIFTY 50, Nifty 500 above the 200 DMA before entering any trade. Actionable Insights 🔒 Lock Partial Profits at T1: Secure gains to mitigate risk in this volatile environment. 📈 Trail Your Stop Loss: Once T1 is achieved, manage the trade dynamically to maximize returns. Disclaimer This analysis is for educational purposes only and not financial advice. Please conduct your own research and analysis before making any investment decisions. Trading involves significant risk. Trade wisely and stay disciplined! 🚀📊
NSE:MUTHOOTFINLong
by sagartharayil
Nifty Intraday Analysis for 23rd January 2025NSE:NIFTY Index closed near 23155 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 23500 Strike – 113.11 Lakh 23300 Strike – 94.40 Lakh 23200 Strike – 84.95 Lakh Put Writing 22300 Strike – 113.58 Lakh 23100 Strike – 84.76 Lakh 22900 Strike – 55.47 Lakh Index has resistance near 23200 - 23250 range and if index crosses and sustains above this level then may reach near 234350 - 23400 range. Index has immediate support near 23000 – 22950 range and if this support is broken then index may tank near 22800 – 22750 range.
NSE:NIFTY
by RKMAURYA