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Support and Resistance

Finnifty Intraday Analysis for 11th November 2024NSE:CNXFINANCE Index closed near 23835 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 24200 Strike – 11.80 Lakh 24500 Strike – 9.70 Lakh 24000 Strike – 8.51 Lakh Put Writing 23150 Strike – 6.54 Lakh 23500 Strike – 5.69 Lakh 20000 Strike – 5.18 Lakh Index has resistance near 24000 - 24100 range and if index crosses and sustains above this level then may reach near 24250 - 24300 range. Index has immediate support near 23650 – 23600 range and if this support is broken then index may tank near 23450 – 23400 range.
NSE:CNXFINANCELong
by RKMAURYA
1
Banknifty Intraday Analysis for 11th November 2024NSE:BANKNIFTY Index closed near 51560 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 52500 Strike – 35.35 Lakh 53000 Strike – 28.87 Lakh 52000 Strike – 21.98 Lakh Put Writing 51000 Strike – 16.46 Lakh 50800 Strike – 12.23 Lakh 51500 Strike – 11.65 Lakh Index has resistance near 52000 – 52200 range and if index crosses and sustains above this level then may reach near 52700 – 52900 range. Index has immediate support near 51100 - 51000 range and if this support is broken then index may tank near 50600 - 50600 range.
NSE:BANKNIFTYLong
by RKMAURYA
#BANKNIFTY - 11 NOVEMBER !!NSE:BANKNIFTY #NIFTYBANK ⚡ Observe, understand, then implement 👍🏻 Strategy name : Higher Highs and Higher Lows This strategy is commonly used in trending markets to identify potential buy opportunities during an uptrend. Key Components of the Strategy: 1. Higher Highs and Higher Lows: In an uptrend, price action creates successive peaks (higher highs) and troughs (higher lows). These are signals of bullish momentum, where buyers are consistently pushing prices higher. 2. Trend Channel: The image shows a channel formed by connecting the higher lows with a trendline (lower boundary) and higher highs with another trendline (upper boundary). This channel helps traders identify the price range within which the trend is moving. 3. Entry Points: - The strategy suggests buying near the trendline at each higher low, which represents a potential support area within the trend. In the image, these points are marked as "BUY" or "ENTRY." - Buying near these higher lows increases the chance of entering trades at favorable prices during pullbacks in the uptrend. 4. Profit Targets: - Profit targets are set near the upper trendline or at subsequent higher highs. In the image, these points are marked as "PROFITS" with checkmarks. - This method helps traders secure profits as the price reaches the higher end of the channel. Managing the Trade: - After the first entry and a successful profit, traders can re-enter the market on the next pullback to a higher low. - Stop losses are typically placed below the previous higher low to manage risk in case the trend reverses. Summary: This strategy aims to capture gains in a trending market by entering trades at higher lows and exiting near higher highs within a channel. It works well in a stable, consistent uptrend but requires careful monitoring of trend changes to avoid potential losses if the trend breaks down. Ps note : I'm not SEBI Registere 🙏🏻 Any queries @thetradeforecast 🇮🇳
NSE:BANKNIFTYLong
by thetradeforecast
1
Midnifty Intraday Analysis for 11th November 2024NSE:NIFTY_MID_SELECT Index closed near 12520 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 12600 Strike – 17.13 Lakh 12700 Strike – 14.20 Lakh 12500 Strike – 12.77 Lakh Put Writing 12200 Strike – 14.01 Lakh 12500 Strike – 12.03 Lakh 12300 Strike – 11.95 Lakh Index has immediate resistance near 12650 - 12700 range and if index crosses and sustains above this level then may reach 12850 – 12900 range. Index has immediate support near 12400 – 12350 range and if this support is broken then index may tank near 12200 – 12150 range.
NLong
by RKMAURYA
#NIFTY - 12 TH NOVEMBER NSE:NIFTY #NIFTYBANK ⚡ Observe, understand, 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. P.S note : im not SEBI REGISTRAR 🙏🏻 Any doubt 👉🏻 @thetradeforecast
NSE:NIFTY
by thetradeforecast
1
Redington: Swing Trade OpportunityRedington has demonstrated a significant recovery after a rebound from the demand zone, which is identified between the price levels of 158 to 161. The stock has successfully breached the previously established resistance range of 186 to 189, closing above this critical level, which is a positive indicator for potential further upward movement. The price movement from lower lows to higher highs illustrates a robust bullish trend. Notably, the stock has encountered the 61.8% Fibonacci retracement level multiple times, reinforcing the notion of a strong upward trajectory in the near term. This recurring interaction with the Fibonacci level suggests that the market participants view this area as a strong point of support and resistance, which is crucial for traders to consider. Further corroborating the positive outlook, both the Relative Strength Index and the Moving Average Convergence Divergence indicators on the daily and weekly time frames reflect strong buying momentum. An RSI value above 70 may indicate an overbought condition; however, current readings suggest that the stock is not yet in that territory, leaving room for potential upward movement. Meanwhile, the MACD crossing above its signal line indicates a bullish trend. The stock currently appears poised for accumulation at the current market price. Traders and investors should be aware of a potential resistance range at approximately 225 to 227. It is advisable to consider placing a stop-loss order below the demand zone, ideally around the 158 level, to mitigate potential losses in the event of an unfavourable market movement. Disclaimer: The information contained in this technical analysis report is for informational and educational purposes only and should not be construed as financial advice. It is recommended that individuals conduct their own research or consult a qualified financial advisor and consider their financial situation and risk tolerance before making any investment decisions.
NSE:REDINGTONLong
by NiftyNotions
Nifty Intraday Support & Resistance Levels for 11.11.2024On Friday, Nifty opened nearly flat, dipping to a low of 24,066.65 and climbing to a high of 24,276.15, before closing at 24,148.20—a loss of 51 points from the previous close. With the Weekly Trend (50 SMA) remaining sideways and the Daily Trend (50 SMA) still negative, it continues to be a “Sell on Rise” market unless there’s a trend shift to positive. Key demand and supply levels stay consistent with previous posts. Demand/Support Zones Near Support (30m): 23,842.75 - 23,951.10 Key Support (Daily): 23,350 - 23,667.10 Deep Support: 23,189.88 (61.8% FIBO) Extended Support (Daily): 22,642.60 - 22,910.15 Supply/Resistance Zones Near Resistance (30m): 24,447.65 - 24,537.60 Key Resistance (75m): 24,636.75 - 24,741.45 Major Resistance (Daily): 24,567.65 - 24,978.30 Extended Resistance (Daily): 25,739.20 - 25,907.60
NSE:NIFTY
by PriteshPal
MCX COTTON CANDY - TRADE IDEA ON LONG SIDESymbol - COTTONCNDY1! COTTONCNDY1! is currently trading at 55800 I'm seeing a trading opportunity on buy side. Buying COTTONCNDY1! Futures at CMP 55800 I will add more quantity at 55000, If comes. Holding with SL 54200 Targets I'm expecting are 57150 - 58200 & 59200 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!
MCX:COTTONCNDY1!Long
by akshit_official
2
Banknifty Intraday Analysis for 12th November 2024NSE:BANKNIFTY Index closed near 51875 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 53000 Strike – 44.40 Lakh 52500 Strike – 28.51 Lakh 52000 Strike – 22.15 Lakh Put Writing 51000 Strike – 18.98 Lakh 51500 Strike – 18.28 Lakh 50500 Strike – 16.33 Lakh Index has resistance near 52350 – 52500 range and if index crosses and sustains above this level then may reach near 52900 – 53000 range. Index has immediate support near 51500 - 51400 range and if this support is broken then index may tank near 51000 - 50900 range.
NSE:BANKNIFTYLong
by RKMAURYA
Will TRBUSDT Trigger a Massive Bullish Rally?Yello, Paradisers! 🌞 Is TRBUSDT about to explode, or will it fizzle out? Let’s dive in! 💎TRBUSDT has broken out of its descending channel and formed a W pattern, which typically signals a strong probability for a bullish move ahead. 💎But here's the key—if TRBUSDT breaks above the resistance zone and closes a candle above it, we can expect the bullish momentum to kick in. 🚀 💎However, if we see a pullback, watch for a potential bounce from the support zone. For those of you who love to scalp, this might be a good area to play in. But for beginners, it's a risky zone—I recommend staying out of it, as the volatility could be difficult to manage. 💎On the flip side, if we see a breakdown and a candle close below the support zone, this will invalidate the bullish setup entirely. So, watch the levels carefully! If you want to be consistently profitable, you need to be extremely patient and always wait for the highest probability trading opportunities. MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise_Nathan