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Support and Resistance

Nifty Intraday Analysis for 24th September 2024NSE:NIFTY Index closed near 25940 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 26000 Strike – 70.03 Lakh 26500 Strike – 52.94 Lakh 26200 Strike – 50.13 Lakh Put Writing 25500 Strike – 86.69 Lakh 25700 Strike – 62.15 Lakh 25800 Strike – 57.34 Lakh Index has resistance near 25950 – 26050 range and if index crosses and sustains above 26050 level then may reach near 26200 - 26250 range. Index has immediate support near 25800 – 25700 range and if this support is broken then index may tank near 25600 – 25500 range.
NSE:NIFTYLong
by RKMAURYA
Banknifty Intraday Analysis for 24th September 2024NSE:BANKNIFTY Index closed near 54105 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 55000 Strike – 24.29 Lakh 54000 Strike – 20.34 Lakh 54200 Strike – 14.82 Lakh Put Writing 53000 Strike – 29.52 Lakh 55500 Strike – 24.23 Lakh 54000 Strike – 22.09 Lakh Index has resistance near 54200 – 54300 range and if index crosses and sustains above 54300 level then may reach near 54500 – 54600 range. Index has immediate support near 53700 – 53500 range and if this support is broken then index may tank near 53000 - 529500 range.
NSE:BANKNIFTYLong
by RKMAURYA
Finnifty Intraday Analysis for 24th September 2024NSE:CNXFINANCE Index closed near 24955 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 25200 Strike – 23.52 Lakh 25500 Strike – 22.33 Lakh 25000 Strike – 17.18 Lakh Put Writing 24500 Strike – 15.88 Lakh 24800 Strike – 15.70 Lakh 24700 Strike – 13.21 Lakh Index has resistance near 25000 - 25050 range and if index crosses and sustains above 25050 level then may reach near 25200 - 25250 range. Index has immediate support near 25650 – 24500 range and if this support is broken then index may tank near 24300 – 24200 range.
NSE:CNXFINANCELong
by RKMAURYA
Midnifty Intraday Analysis for 24th September 2024NSE:NIFTY_MID_SELECT Index closed near 13200 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 13200 Strike – 6.97 Lakh 13300 Strike – 4.16 Lakh 13400 Strike – 2.46 Lakh Put Writing 13200 Strike – 5.95 Lakh 13000 Strike – 3.63 Lakh 13100 Strike – 3.12 Lakh Index has immediate resistance near 13200 - 13300 range and if index crosses and sustains above 13300 level then may reach 13450 – 13500 range. Index has immediate support near 13100 – 13050 range and if this support is broken then index may tank near 12950 – 12900 range.
NLong
by RKMAURYA
BankNifty levels - Sep 25, 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 - Sep 25, 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
GOLD SHOWING A GOOD UP MOVE WITH 1:5 RISK REWARD GOLD SHOWING A GOOD UP MOVE WITH 1:5 RISK REWARD DUE TO THESE REASON A. its following a rectangle pattern that stocked the market which preventing the market to move any one direction now it trying to break the strong resistant lable B. after the break of this rectangle it will boost the market potential for break C. also its resisting from a strong neckline the neckline also got weeker ald the price is ready to break in the outer region all of these reason are indicating the same thing its ready for breakout BREAKOUT trading are follws good risk reward please dont use more than one percentage of your capitalfollow risk reward and tradeing rules that will help you to to become a bettertrader thank you
ICMARKETS:XAUUSDLong
by tradergyan01
11
BankNifty Intraday Support & Resistance Levels for 24.09.2024On Monday, BankNifty opened with a gap up, made a new all-time high of 54,197.95, and closed at 54,105.80, gaining 312 points over the previous close. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) has turned overbought from positive. Support zones remain unchanged from the last post. Demand/Support Zones: Near Demand/Support Zone (30 min): 53,225.20 - 53,521.25 Far Demand/Support Zone (30 min): 52,402.80 - 52,484.55 Far Demand/Support Zone (Daily): 52,085.50 - 52,284.60 Supply/Resistance Zones: No visible supply/resistance zones on the chart at the moment.
NSE:BANKNIFTY
by PriteshPal
Nifty Intraday Support & Resistance Levels for 24.09.2024On Monday, Nifty opened with a gap up and remained strong throughout the day, making a new all-time high of 25,956 and closing at 25,939.05, gaining 148 points over the previous close. The Weekly Trend (50 SMA) has turned overbought from positive, while the Daily Trend (50 SMA) remains positive. Support zones remain unchanged from the previous post. Demand/Support Zones: Near Demand/Support Zone (75 min): 25,376.05 - 25,467.65 Far Demand/Support Zone (Daily): 24,753.15 - 25,130.50 Far Demand/Support Zone (75 min): 24,941.45 - 25,036.75 Supply/Resistance Zones: No visible supply/resistance zones on the chart at the moment.
NSE:NIFTY
by PriteshPal
RIIL - Multiyear - Breakout - Retest - MonthlyReliance Industrial Infrastructure Limited - RIIL Here's an analysis of the key points highlighted in the chart: Monthly Chart 16-year high breakout: The stock has broken out of a multi-year consolidation pattern, indicating a significant bullish move. Multi-year breakout and retest: The price broke above a key resistance level around 1135 INR and then retested this level, confirming it as new support. Volume analysis: The chart notes "Good volumes while going up and low volume during pull backs." This is a bullish sign, as it indicates strong buying pressure during uptrends and weak selling pressure during corrections. Price pattern: The stock has formed an upward sloping channel (marked by yellow lines), suggesting a steady uptrend. Current price action: The stock is trading at 1384.90 INR, up 16.22% with a volume of 5.731M shares. Historical price range: The chart shows a low of 162.25 INR and a high of 3175.00 INR over the period displayed. Recent consolidation: After the breakout, the price has been consolidating in a tight range, potentially setting up for another move. Overall, the chart presents a bullish long-term view of the stock, with the recent breakout and volume characteristics supporting the potential for further upside. However, as with all technical analysis, it's important to combine this with fundamental research and be aware of potential risks.
NSE:RIILLong
by VCharts_TA
SBFC -Consolidation breakout - Daily Here's an analysis of the key features: 1. Overall Pattern: The stock has formed a series of cup and handle patterns over the past year, with the most recent one just completing. 2. Recent Price Action: - The stock has broken out of the latest cup and handle pattern. - Current price is 105.62 INR, up 19.78% on the day, indicating a significant bullish move. 3. Key Levels: - A major resistance level at around 98.03 INR has been broken, which could now act as support. - There's another potential resistance level at 119.00 INR, which appears to be the next target. 4. Volume: - There's a substantial spike in trading volume coinciding with the recent price breakout, supporting the bullish move. - The volume is significantly above the volume moving average, indicating strong buying interest. 5. Price Targets: - The chart shows two potential targets: a) 105.81 INR (recent high) b) 119.00 INR (longer-term resistance) - These targets represent potential gains of 13.85% and 21.34% respectively from the breakout point. 6. Support Levels: - The previous resistance at 98.03 INR should now act as support. - There's another support level at 77.24 INR, which has held multiple times over the past year. 7. RSI (Relative Strength Index): - The RSI at the bottom of the chart shows a sharp uptick, confirming the strong bullish momentum. - It's approaching overbought levels, which might suggest a short-term pullback or consolidation soon. 8. Historical Context: - The stock has been trading in a range between roughly 77 INR and 98 INR for most of the past year, with occasional breakouts. - The current move represents a significant breakout from this range. Overall, the chart presents a bullish outlook for SBFC Finance Ltd. The breakout from the cup and handle pattern, supported by high volume and a strong RSI, suggests potential for further upside. The next key level to watch would be the target at 119.00 INR. However, traders should be cautious of potential short-term pullbacks due to: 1. The large single-day move (19.78%) 2. The RSI approaching overbought levels 3. The proximity to the first target at 105.81 INR It would be prudent to watch for how the stock behaves around the 105.81 INR level and whether it can hold above the broken resistance at 98.03 INR in case of a pullback.
NSE:SBFCLong
by VCharts_TA
#banknifty - 24th September !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:BANKNIFTYLong
by thetradeforecast