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Nifty Analysis for 21-22 Nov Based on elliott wave forecasting on hourly chart we are in either wave iv or v of y of wxy correction. Which gives two possible scenarios as given in chart Green : we are wave iv with a and b completed and c can continue in future. Possible trade given in green box. Red: we are wave iii of iv and go like red arrow, trade given in red box. This is for educational purpose and not an advice/recommendation to buy or sell. Do your research before trading. Happy Trading.
NSE:NIFTY
by IMStockwala
1
Banknifty Bearish Harmonic Pattern _Both side moves possibleHello everyone, yesterday there was pullback in banknifty around 800 points but pullback fail as volume not supported and the multiple resistance at 51000-51200 with bearish harmonic pattern banknifty fall again around 700 points from high. bearish trend can continue if banknifty breaks below 50200 another 1000 points fall can possible breaking above 51200 only upside posssible. and Non Directional range is 50000 to 51000.
NSE:BANKNIFTYShort
by finvestalgo
#Banknifty directions and levels for November 21stBank Nifty Current View: The structure is similar to the Nifty sentiment. If the market declines initially, we can expect a minimum of 78% (OIS) if it breaks the level of 50,316. Notably, if it reaches this level with gradual movement (MDZ), we can expect a minimum bounce back of 23% to 38%. On the other hand, if it reaches this level with a solid structure or consolidates around here, then the correction is likely to continue. This is our first variation. Alternate View: The alternate variation suggests that if the market pulls back initially, we can expect a range-bound market between the previous session's range. This means if it breaks 50,648, it will reach 50,867. After that, if it gets rejected there, it will close where it opened.
NSE:BANKNIFTY
by Manickamtraders
Nifty Expiry Support&Resistance Levels for 21 st Nov ThursdayImmediate Support: 23425 to 23350 area: If this support range holds, you are suggesting a possible long trade. The targets for this long position would be: 23500 23550 23600 23670 Voilation of supports and sustains below 23200 and 23k targets will open up. Immediate Resistance: 23670 area: This level is critical. You are considering two possibilities here: Rejection at 23670: If price reverses from this level, it could be an opportunity to short the market. Breakout above 23670: A breakout would signal a potential long trade, with targets extending up to the next resistance range of 23750 to 23800,23850. Expected Range for the Week: 450-point range: Expecting Nifty to trade within a range of approximately 450 points unless geopolitical tensions (like the Russia-Ukraine conflict) cause significant market disruption. This is a well-structured approach with clear levels for both support and resistance, and it effectively accounts for both technical signals and geopolitical risks. Keeping an eye on these levels should help in managing trades this week.
NSE:NIFTY
by rakeshreddym
2
NIFTY50: INSTITUTIONAL LEVELS FOR 21/11/2024Overview This trading system combines simplicity with powerful insights for accurate entries and exits. It is structured for active traders using the 5-minute timeframe who want to make clear, confident trading decisions in fast-moving markets. Key Strategy Guidelines Retest Entries : Aim to enter trades on retests rather than breakouts, offering better positioning. Multiple Confirmations : Use more than one confirmation to validate each trade, helping avoid impulsive decisions. ATM Options Focus : Stick to at-the-money (ATM) options or above for optimal liquidity and manageable risk. System Explanation This setup leverages volume, historical price action, and price ranges to pinpoint high-probability entry and exit points. This methodology is designed to reduce guesswork, allowing traders to manage trades with a consistent approach. How It Works: Entry/Exit Signals Blue Line : Signals potential long entry. Red Line : Indicates potential short entry. Tip : Align these signals with additional confirmations from your trading strategy for optimal performance. Stop Loss and Take Profit Levels Stop Loss: Long Trades : Set your stop loss at the nearest red line below the entry point, or adjust based on whether the 5-minute candle crosses the red line. Short Trades : Use the blue line above as the stop loss. Take Profit: Long Entries :Target the next red line above or exit if other indicators suggest a prudent exit. Short Entries :Target the next blue line below following similar guidelines. Timeframe Recommendation This system is specifically optimized for the 5-minute timeframe, making it suitable for those trading shorter intervals with precision. Risk Disclaimer Trading involves high risk, and rapid price changes can lead to unexpected losses. Only trade with capital you can afford to lose, and carefully assess your financial situation and risk tolerance. Join the Community Discussion Engage with other traders to discuss strategies, share insights, and enhance your understanding of the markets. Let’s grow together as a community of traders. Original Content This trading system is the product of my own expertise and rigorous testing. It’s a unique approach developed through real market experience to offer a clear edge in trading.
NSE:NIFTY
by tony_fx_sm
NIFTY RANGE AT MAKE OR BREAK LEVELMarket Context and Current Position: The market appears to be completing the Elliott Wave (5), indicating a potential cycle conclusion. The recent price action shows bearish divergence in the RSI indicator, which signals momentum loss and a higher likelihood of a reversal or correction phase. The current level aligns closely with a Fibonacci retracement zone (38.2%), a historically significant support level. Potential Scenarios: Reversal Scenario: If the market respects the Fibonacci 38.2% level, a rebound can be expected. The Elliott corrective wave (likely ABC) could transition into a new bullish impulsive wave structure, contingent upon strong buying pressure. Continuation of Correction: A failure to hold at the 38.2% retracement level could lead to a deeper correction toward the 50% retracement level, coinciding with a critical long-term trendline from the March 2020 low. This would represent a structural retest of the broader bullish trend initiated post-COVID crash. Key Levels to Watch: Resistance Levels: The immediate resistance lies around the peak of the recent wave (near the 23,500–24,000 zone). Any upward breakout should be monitored for a potential extension of the wave 5 structure. Support Levels: The 38.2% retracement level (approximately 23,000) and the trendline support. The 50% retracement level (~21,500) as the next crucial fallback if the 38.2% level is breached.
NSE:NIFTY
by hanifjuneja
1
#Nifty directions and levels for November 21stGood Morning, Friends! 🌞 Here are the market directions and levels for November 21st. Market Overview: There are no significant changes in the global market sentiment. The Dow Jones is showing a moderately bearish trend, and our local market is also indicating a bearish sentiment. Today, the market may open neutral to slightly gap-down, as Gift Nifty is showing a negative 40-point movement. In the previous session, both Nifty and Bank Nifty experienced huge oscillations. Structurally, the market closed between minor swings, which makes it seem like a range-bound market. What about today? We are still in a minor downtrend. If the market opens with a gap-down, the same bearish direction may continue. On the other hand, if it takes a pullback initially, we might see some consolidation within the previous session's range. Let’s explain this further with charts. Both Nifty and Bank Nifty are showing similar structural sentiment. Nifty Current View: The current view suggests that if the market declines initially, we can expect a minimum of 23,275 (MDZ) if it breaks the level of 23,399. Notably, if it reaches this level with gradual movement (MDZ), we can expect a minimum bounce back of 23% to 38%. On the other hand, if it reaches this level with a solid structure or consolidates around here, then the correction is likely to continue. This is our first variation. Alternate View: The alternate variation suggests that if the market pulls back initially, we can expect a range-bound market between the previous session's range. This means if it breaks 23,585, it will reach 23,713. After that, if it gets rejected there, it will close where it opened.
NSE:NIFTY
by Manickamtraders
BANKNIFTY: INSTITUTIONAL LEVELS FOR 21/11/2024Overview This trading system combines simplicity with powerful insights for accurate entries and exits. It is structured for active traders using the 5-minute timeframe who want to make clear, confident trading decisions in fast-moving markets. Key Strategy Guidelines Retest Entries : Aim to enter trades on retests rather than breakouts, offering better positioning. Multiple Confirmations : Use more than one confirmation to validate each trade, helping avoid impulsive decisions. ATM Options Focus : Stick to at-the-money (ATM) options or above for optimal liquidity and manageable risk. System Explanation This setup leverages volume, historical price action, and price ranges to pinpoint high-probability entry and exit points. This methodology is designed to reduce guesswork, allowing traders to manage trades with a consistent approach. How It Works: Entry/Exit Signals Blue Line : Signals potential long entry. Red Line : Indicates potential short entry. Tip : Align these signals with additional confirmations from your trading strategy for optimal performance. Stop Loss and Take Profit Levels Stop Loss: Long Trades : Set your stop loss at the nearest red line below the entry point, or adjust based on whether the 5-minute candle crosses the red line. Short Trades : Use the blue line above as the stop loss. Take Profit: Long Entries :Target the next red line above or exit if other indicators suggest a prudent exit. Short Entries :Target the next blue line below following similar guidelines. Timeframe Recommendation This system is specifically optimized for the 5-minute timeframe, making it suitable for those trading shorter intervals with precision. Risk Disclaimer Trading involves high risk, and rapid price changes can lead to unexpected losses. Only trade with capital you can afford to lose, and carefully assess your financial situation and risk tolerance. Join the Community Discussion Engage with other traders to discuss strategies, share insights, and enhance your understanding of the markets. Let’s grow together as a community of traders. Original Content This trading system is the product of my own expertise and rigorous testing. It’s a unique approach developed through real market experience to offer a clear edge in trading.
NSE:BANKNIFTY
by tony_fx_sm
Nifty Trading Levels for 21st November 2024Trading Strategy and Market Analysis Current Price: 23,518 This analysis provides a clear trading strategy with multiple levels of support and resistance, helping traders make informed decisions. The following targets are based on technical analysis, assuming no significant market-impacting news. Buy Strategy Trigger Point: Enter a buy position above 23,590. Targets: Target 1: 23,750 – First level of profit booking, aligns with short-term resistance. Target 2: 23,880 – Higher resistance zone, suitable for extended trades if momentum sustains. Stop Loss: Place a stop loss around 23,500 to limit downside risk. Sell Strategy Trigger Point: Enter a sell position below 23,383. Targets: Target 1: 23,298 – Immediate downside support and potential bounce level. Target 2: 23,200 – A significant support zone, indicating possible bearish strength. Stop Loss: Place a stop loss around 23,450 to cap losses on unexpected reversals. Detailed Support and Resistance Levels Resistance Levels (Price levels likely to act as ceilings, limiting upward movement): R1: 23,590 – Immediate resistance; crossing this could indicate bullish momentum. R2: 23,750 – Strong short-term resistance and a likely profit booking zone. R3: 23,880 – Major resistance zone; surpassing this level could signal a breakout rally. Support Levels (Price levels likely to act as floors, limiting downward movement): S1: 23,383 – Immediate support; breaking this could lead to further downside. S2: 23,298 – Key short-term support level, potential for a bounce. S3: 23,200 – Strong support zone; if breached, it could indicate significant bearish sentiment. Market Outlook Bullish Scenario: If the price breaks and sustains above 23,590, we may see a move toward higher targets, driven by positive market sentiment. Bearish Scenario: A breakdown below 23,383 could indicate bearish strength, with the price potentially testing lower support levels. Disclaimer I am not SEBI Registered. This analysis is provided for informational and educational purposes only. Trading in financial markets involves substantial risks, including the risk of losing capital. Readers should perform their own due diligence or consult a financial advisor before making any trading decisions. The author is not responsible for any financial losses incurred as a result of using this information. Note for Traders Ensure that you: Monitor Market Sentiment: Stay updated with news and economic events that might impact market movements. Stick to Risk Management: Use appropriate position sizing and set stop losses to limit potential losses. Use Indicators: Combine these levels with technical indicators like RSI, MACD, or Moving Averages for better confirmation. Happy trading! 😊
NSE:NIFTY
by ramkkyy
Nifty Intraday Analysis for 21st November 2024NSE:NIFTY Index closed near 23520 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 24000 Strike – 100.49 Lakh 23800 Strike – 67.76 Lakh 23700 Strike – 58.44 Lakh Put Writing 23000 Strike – 60.99 Lakh 23500 Strike – 47.00 Lakh 23200 Strike – 36.91 Lakh Index has immediate support near 23350 – 23300 range and if this support is broken then index may tank near 23100 – 23000 range. Index has resistance near 23650 – 23750 range and if index crosses and sustains above this level then may reach near 23950 - 24000 range.
NSE:NIFTY
by RKMAURYA
Banknifty forecast 21-22 Nov’22 l Elliott waveBanknifty can have two possible scenarios. It is in correction of 5 wave while in 4 of 5. 4 looks completed and we are in last leg then temporary pause of fall expected. Red : most likely scenerio. Below 50300 we are short for impulse down 💰💰 Green: less likely but we are still in wave 4 it will tests our patience should move very slow up towards 50900-51000. Disclaimer: This post is for educational purpose. No trade/ buy/ sell signal is suggested or advised. Do your own analysis before buying or selling any stock/options.
NSE:BANKNIFTYShort
by IMStockwala
BANKNIFTY View Bounce and Break !Hello mates sharing a view on Banknifty on Weekly time frame, So as we can see that after a good correction form all time highs now price reached to weekly support level. NOTE- Only for Education Purpose. This is not any kind of Trading advice I am giving by this analysis. NOTE : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. I will try my best to update this publication for a bounce or a break too stay tuned. Hope you like my idea, Thanks in advance.
NSE:BANKNIFTY
by MISSION_TRADING
2