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PRE MARKET ANALYSIS OF NIFTY FOR 20 DEC 202420 DEC 2024 1. World markets have become jittery due to the US fed chairman hawkish comments. 2. It may settle down in a day or two. 2. Also Dec last week will be usually lacklustre due to the NEW YEAR AND CHRISTMAS. INDIA VIX AND GIFT NIFTY 1. India VIX is above 14 indicating increase in volatility. 2. GIFT Nifty is indicating a flat start. INDEX HEAVY WEIGHTS 1. HDFC Bank has turned bearish on a daily chart. However it has made a hammer. 1800 is a strong resistance. 2. ICICI Bank has resistance at 1300. It is looking bearish. 3. Reliance is also very bearish with 1230 as a good support. Break of 1230 will be bearish. TRADING PLAN 1. NIFTY OPEN BETWEEN 23989 - 23915 : NO TRADE. 2. NIFTY OPEN ABOVE 23989: Wait for a break above 24100 decisively. 3. NIFTY OPEN BELOW 23915: Wait for a consolidation and break below 24850 decisivbely. DISCLAIMER 1. I AM NOT A SEBI REGISTERED TRADER. THIS INFORMATION IS FOR EDUCATIONAL PURPOSES ONLY. PLEASE CONSULT YOUR REGSITERED FINANCIAL ANALYST FOR ANY TRADE RELATED QUERY. THE AUTHOR OF THIS ARTICLE HOLDS NO LIABILITY FOR ANY TRADE TAKEN BY THE READER.
NSE:NIFTYShort
by sam20051968
Nifty Day Chart for next impulse wave anticipation Nifty 50 wave analysis for new high anticipation 1) We have an impulse wave 4 jun 2024 low point 21281 to 27 sep 2024 high 26277. 2) This impulse wave corrected as ((a)) ((b)) ((c)) correction it is a Flat correction up to 0.618% of previous leg. i) internal structure is 3-3-5 wave ((a)) has zigzag. wave ((b)) has expanded or irregular flat. wave ((c)) has impulse wave (i) (ii) (iii) (iv) (v). 3) The market has provide motive wave low point 23263 to 24354 so traders and investors participate in next impulse wave or failed x wave we can anticipate new high in the market Disclaimer It is my personal research or my view not for buying or selling recommendation only for educational purpose. Thanks MKT Learner
NSE:NIFTY
by meenaanita613
BANKNIFTY prediction for 29 Dec 24As we discussed yesterday, the market opened at -500 points and spent whole days sideways volatile moment. If we look at the chart now: The market is trading at 1H-TF 0.618 fib level, which is a good point to support. It also did hold today nicely. Support levels : 51138, 50719. Resistance levels : 52075, 52378, and 52833 . If we look at the OI data: PCR = 0.5, which has decreased from 0.9, shows bearish market behavior. The market has good CE and PE writing at 51500, which is going to provide maximum pain. On higher levels, the market has good CE writing at 52000 and 52500, which is going to provide a very good resistance point. On Lover, levels 51500 and 51000 have good PE writing, which is going to provide good support. I have neutral behavior in the market. Reason: Price < EMAs shows bearish market structure. PCR = 0.5 shows that the market is bearish. RSI < 40 shows the strength of a weak bull. Price < VWAP shows the market is bearish right now. the market is trading at 0.618 fib level, which can be a good support point. Verdict : Neutral Plan of action: Sell 51500 CE and Sell 51500 PE (Hedge position) adjust according to the price action on given levels.
NSE:BANKNIFTY
by finnova_
Nifty Intraday Analysis for 19th December 2024NSE:NIFTY Index closed near 24200 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 24500 Strike – 114.28 Lakh 24300 Strike – 113.59 Lakh 24400 Strike – 104.68 Lakh Put Writing 24000 Strike – 85.55 Lakh 24200 Strike – 74.22 Lakh 23900 Strike – 56.04 Lakh Index has resistance near 24325 - 24350 range and if index crosses and sustains above this level then may reach near 24450 - 24500 range. Index has immediate support near 24050 – 24000 range and if this support is broken then index may tank near 23850 – 23800 range. Big Moment on either side expected after US FOMC Meeting outcome and Commentary on 18 - 19 Dec’24 night.
NSE:NIFTY
by RKMAURYA
Banknifty Intraday Analysis for 19th December 2024NSE:BANKNIFTY Index closed near 52140 level and Maximum Call and Put Writing near CMP as below in December Month contract: Call Writing 54000 Strike – 44.35 Lakh 53500 Strike – 23.76 Lakh 53000 Strike – 28.03 Lakh Put Writing 51000 Strike – 15.20 Lakh 52000 Strike – 14.89 Lakh 52500 Strike – 13.82 Lakh Index has resistance near 52600 – 52700 range and if index crosses and sustains above this level then may reach near 53000 – 53200 range. Index has immediate support near 52000 - 51900 range and if this support is broken then index may tank near 51400 - 51300 range. Big Moment on either side expected after US FOMC Meeting outcome and Commentary on 18 - 19 Dec’24 night.
NSE:BANKNIFTY
by RKMAURYA
Finnifty Intraday Analysis for 19th December 2024NSE:CNXFINANCE Index closed near 24200 level and Maximum Call and Put Writing near CMP as below in December Month contract: Call Writing 24600 Strike – 1.97 Lakh 24800 Strike – 1.87 Lakh 24500 Strike – 1.52 Lakh Put Writing 23500 Strike – 1.12 Lakh 24000 Strike – 1.11 Lakh 24700 Strike – 0.94 Lakh Index has resistance near 24400 - 24450 range and if index crosses and sustains above this level then may reach near 24650 - 24700 range. Index has immediate support near 24050 – 24000 range and if this support is broken then index may tank near 23800 – 23750 range. Big Moment on either side expected after US FOMC Meeting outcome and Commentary on 18 - 19 Dec’24 night.
NSE:CNXFINANCE
by RKMAURYA
Midnifty Intraday Analysis for 19th December 2024NSE:NIFTY_MID_SELECT Index closed near 13030 level and Maximum Call and Put Writing near CMP as below in December Month contract: Call Writing 13200 Strike – 5.69 Lakh 13000 Strike – 3.78 Lakh 13300 Strike – 3.20 Lakh Put Writing 13000 Strike – 4.21 Lakh 12800 Strike – 3.44 Lakh 13100 Strike – 2.65 Lakh Index has immediate resistance near 13175 – 13225 range and if index crosses and sustains above this level then may reach 13350 – 13400 range. Index has immediate support near 12990 – 12950 range and if this support is broken then index may tank near 12850 – 12800 range. Big Moment on either side expected after US FOMC Meeting outcome and Commentary on 18 - 19 Dec’24 night.
NSE:NIFTY_MID_SELECT
by RKMAURYA
NIFTY prediction for tomorrow 20 Dec 24As we discussed yesterday, the market opened at -250 points and spent the whole day sideways in a tight range. If we look at the chart now: The market is at a crucial point that can provide good support. Also, the price is very far from the EMAs, which might retrace to the EMAs. The market might reverse from this point. Right now, the market is neutral. Support levels: 23772, 23488, 23363 Resistance levels: 24339, 200 EMA, 24682 If we look at the OI data: PCR = 0.7, which has increased from 0.4, shows put addition at the lower level. 24000 has good support and resistance points. This is going to work as max pain. As it's the start of the week, OI won't play much of a role. I am expecting Case 1: Bullish if take support at 24950. Case 2: Bearish if it breaks the level 24950 to the downside. Reason: RSI < 40 shows a good Bearish structure. (bearish) Price < EMA(13, 50, 200), which indicates a good bearish structure. (Bearish) PCR = 0.7 indicates a neutral market. price < VWAP shows a good bullish structure in the market.   Verdict: Neutral Plan of action: Sell 23950 CE and 23950 PE and adjust your position as per the price action at 23950.
NSE:NIFTY
by finnova_
Nifty levels - Dec 20, 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
BankNifty levels - Dec 20, 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 50 The Nifty 50 index has shown a Head and Shoulders pattern, which is a classic technical analysis formation often seen as a reversal signal. Here's a brief analysis: Pattern Formation: The Nifty 50 formed a head and shoulders pattern with the neckline around the 22300 level. The right shoulder formed near 22300, and the pattern was confirmed when the price broke below the neckline. Target Projection: The measured move target for a head and shoulders pattern is calculated by measuring the distance from the head to the neckline and projecting it downward from the neckline break. In this case, the target is around 21970 levels. Current Trend: After the neckline break, the Nifty 50 has continued to move lower, reaching around 21932 levels recently. This suggests that the short-term trend remains bearish. Support and Resistance: Key support levels to watch are around 21970 and 21880. On the upside, resistance is near 21240. Market Sentiment: The broader market sentiment has been cautious, with sectors like FMCG and IT showing mixed performance. The India VIX, a measure of market volatility, has also risen, indicating increased investor fear.
NSE:NIFTYShort
by EquityGainer
Bank Nifty Under Bearish Radar: 50,000 in FocusAfter weeks of strong bullish momentum, Bank Nifty is now showing signs of bearish price action. The index faces selling pressure, likely due to profit booking and weak sentiment near recent highs. Key support is seen around the 50,000 level, which could act as a critical zone for buyers to step in. However, with monthly options expiry approaching, volatility is expected to remain high, potentially leading to exaggerated moves. Key Levels to Watch: • Resistance: 52,500–53,000 • Support: 50,000 If 50,000 holds, we may see a rebound post-expiry, but a decisive break below this level could trigger further downside. Keep an eye on global cues, sectoral strength, and institutional activity for directional confirmation. Strategy: • Short-term Bears: Look for shorting opportunities below 50,000 with strict stop losses. • Swing Traders: Wait for a bounce or reversal pattern near support for long opportunities. • Options Traders: Use neutral strategies like straddles or strangles to capitalize on volatility. Trade safe, and always manage your risk effectively.
NSE:BANKNIFTYShort
by gigaalgo