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As we can see NIFTY despite opening strong failed to sustain itself at higher levels leading to unidirectional fall in second half as analysed in our previous analysis about the possible trend change. Now NIFTY can be seen trading at important demand zone and the lower zone could act as an important SUPPORT hence till NIFTY manages to sustain itself above the...
NIFTY Levels for Today Here are the NIFTY Levels for today. Please note, these levels are only for Intraday. The levels identified above can act as support or resistance, although they are shown as three different supports and resistances. The SL (Stop loss) for each BUY trade should be the previous RED candle below the given level. Similarly, the SL (Stop...
BANKNIFTY Levels for Today Here are the BANKNIFTY Levels for today. Please note, these levels are only for Intraday. The levels identified above can act as support or resistance, although they are shown as three different supports and resistances. The SL (Stop loss) for each BUY trade should be the previous RED candle below the given level. Similarly, the SL...
Bank nifty traded in a range between 46000 to 45600 today buyers were holding support but no momemtum from buyers end today tried twice to break 46000 but failed! Major support at 45600 if breaks tomorrow seller can take it to 45300 addtion to that banknifty was showing weakness after 2 pm today & traded below trendline support. Buyer can show momentum above...
Nifty 50 Support and Resistance Levels (06/02/2024): #### Support Levels: 1. **Support Level 1:** 21,700 - If the market breaks below 21,700, there might be a potential downside movement. 2. **Support Level 2:** 21,600 - Another support level that could provide stability in case of a downside move. #### Resistance Levels: 1. **Resistance Level 1:**...
BANKNIFTY Intraday Trade Setup For 06 Feb 2024 Bullish-Above 46050 Invalid-Below 45940 T- 46710 Bearish-Below 45600 Invalid-Above 45710 T- 44915 44350 BANKNIFTY has closed on a bearish note with 0.32% cut today. It was complete sideways the whole day, traded 400 points tight range. Tomorrow we can expect directional move on today's range breakout. Both side...
NIFTY Intraday Trade Setup For 06 Feb 2024 Bullish-Above 21970 Invalid-Below 21920 T- 22150 Bearish- Below 21720 Invalid-Above 21770 T- 21525 21315 NIFTY has closed on a bearish note with 0.38% cut today. In the we discussed in detail that index formed a bearish reversal candle at an important resistance level in daily TF. Below 21800 our short trade is...
BankNifty Analysis - Stance Neutral ➡️ BankNifty was more flattish today even though the chart pattern shows a bearish tinge. We lost 145pts ~ 0.32% today, but if a trader got into a straddle position after the first candle - it would have ended quite perfectly today. This means that the net loss for the banknifty was decided in the opening 4 or 5 minutes and the...
Nifty respects levels for every timeframe according to Fibonacci Series. 0.0, .38, .62, 1.00 For Tuesday 06-02-24 for Upside if Nifty Crosses above 21825 it may touch 21858---21911---21996---22135---22221---22360 for Downside if Nifty Crosses below 21719 it may touch 21686---21633---21548---21409---21323---21184 These are levels are generated on the basis on...
Bank Nifty Support and Resistance Levels (06/02/2024): #### Support Levels: 1. **Support Level 1:** 45,500 - If the market breaks below 45,500, there might be a potential downside movement. 2. **Support Level 2:** 45,000 - Another support level that could provide stability in case of a downside move. #### Resistance Levels: 1. **Resistance Level 1:**...
Double Top, a Bearish reversal chart pattern It is a trend reversal chart pattern formed after good bullish price movement (a continuous upward price movement for a good duration) where the upward price movement loses its steam (formed a first top) and it retraces a bit (to neck line or mid point). Then again it moves in direction of original trend and reaches...
Nifty Analysis - Stance Neutral ➡️ Recap from yesterday: ”The buildup from 24th Jan to today is a Double bottom (W) pattern and a small bullish trendline. All of which leads to confusion on what gets the highest priority. We would like to continue with the neutral stance for Monday with a slight advantage to the bullish side.” 4mts chart The 21913 support and...
Index has closed near an important level of 20315.85. Support is 20245.95. Restance is 20392.85. Major support at 20172.55. Break of 20172.55 could be disastorous for it. Happy Trading !!!
Hello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 06/02/2024 - Levels IMPORTENT ZONE FOR THE DAY: 45855 – 45835 Important Support and Resistance for the Day... Support - Resistance - Support-1: 45730 Resistance-1: 45855 Support-2: 45610 Resistance-2: 45930 Support-3: 45480 Resistance-3:...
CNX IT INDEX: has been in consolidation for the last over 15 months. For the last 10 months the index has been making Higher Lows & Higher Highs and is currently trading about 6% below its Pivot, about 39,500. Its relative performance to CNX 500 has been taking support near its mid Sep 2022 low. For the last 10 months the relative performance has been stuck in a...
NSE:NIFTY 5/2/2024 Overview- Adani Total Gas inks a pact with INOXCVA to strengthen LNG ecosystem in India. Paytm in talks to sell-off wallet business to Jio amidst regulatory heat. Chinese manufacturing grew by 52.7 in January. Outlook for 6/2/2024- Nifty50 remained sideways throughout the day with a quick selloff during the last hour. Market has taken the...
06 Feb 2024 WORLD MARKETS 1. World markets are consolidating with a negative bias. Presently US indices are trading in red. INDIA VIX AND GIFT NIFTY 1. India VIX has increased by 6 % to 15.6. This indicates increased volatility. 2. GIFT Nifty is indicating 35 points uptick at 21750 levels. This amounts to 45900 for bank nifty. INDEX HEAVY WEIGHTS 1. HDFC Bank is...