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Nifty Intraday Analysis for 8th January 2025NSE:NIFTY Index closed near 23710 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 24000 Strike – 122.43 Lakh 24200 Strike – 111.77 Lakh 24100 Strike – 77.23 Lakh Put Writing 23200 Strike – 92.26 Lakh 23500 Strike – 56.77 Lakh 23300 Strike – 54.14 Lakh Index has resistance near 23800 - 23850 range and if index crosses and sustains above this level then may reach near 24000 - 24050 range. Index has immediate support near 23600 – 23550 range and if this support is broken then index may tank near 23400 – 23350 range.
NSE:NIFTYLong
by RKMAURYA
Banknifty Intraday Analysis for 8th January 2025NSE:BANKNIFTY Index closed near 50200 level and Maximum Call and Put Writing near CMP as below in January Month contract: Call Writing 51000 Strike – 13.12 Lakh 51500 Strike – 11.99 Lakh 50500 Strike – 5.15 Lakh Put Writing 50000 Strike – 11.89 Lakh 51000 Strike – 10.59 Lakh 50500 Strike – 6.21 Lakh Index has resistance near 50400 – 50500 range and if index crosses and sustains above this level then may reach near 50900 – 51000 range. Index has immediate support near 49700 - 49600 range and if this support is broken then index may tank near 49100 - 49000 range.
NSE:BANKNIFTYLong
by RKMAURYA
Finnifty Intraday Analysis for 8th January 2025NSE:CNXFINANCE Index closed near 23430 level and Maximum Call and Put Writing near CMP as below in January Month contract: Call Writing 24000 Strike – 1.07 Lakh 23800 Strike – 0.45 Lakh 23500 Strike – 0.44 Lakh Put Writing 24000 Strike – 1.16 Lakh 23500 Strike – 0.88 Lakh 23800 Strike – 0.61 Lakh Index has resistance near 23500 - 23550 range and if index crosses and sustains above this level then may reach near 23700 - 23750 range. Index has immediate support near 23250 – 23200 range and if this support is broken then index may tank near 23100 – 23050 range.
NSE:CNXFINANCELong
by RKMAURYA
Midnifty Intraday Analysis for 8th January 2025NSE:NIFTY_MID_SELECT Index closed near 12740 level and Maximum Call and Put Writing near CMP as below in January Month contract: Call Writing 13000 Strike – 7.19 Lakh 12800 Strike – 4.95 Lakh 12700 Strike – 2.07 Lakh Put Writing 12800 Strike – 5.24 Lakh 13000 Strike – 4.88 Lakh 12700 Strike – 2.87 Lakh Index has immediate resistance near 12800 – 12850 range and if index crosses and sustains above this level then may reach 12950 – 13000 range. Index has immediate support near 12650 – 12600 range and if this support is broken then index may tank near 12500 – 12450 range.
NSE:NIFTY_MID_SELECTLong
by RKMAURYA
Descending Triangle: Wave 4 Continuation or ABC CorrectionSetup 1: Wave 4 Correction Description: The descending triangle is interpreted as a Wave 4 corrective structure. Scenario: If this is Wave 4, it means the trend is still bullish, and after the correction is completed, the price is likely to break upward into Wave 5. The price may bounce off the horizontal support line and eventually break above the descending triangle, leading to new highs in Wave 5. Key Characteristics: Wave 4 corrections often take the form of triangles. The A-B-C-D-E triangle pattern reflects a consolidation before the final impulse wave (Wave 5). In this scenario, the market would resume its primary uptrend after Wave 4. Setup 2: Continuation of a Larger Corrective Pattern Description: The descending triangle is part of a B wave in an ABC correction. Scenario: If Wave 5 is already complete, the descending triangle forms as part of a B wave within a larger corrective structure (ABC). After breaking below the horizontal support line, the price is likely to decline further into Wave C, completing the correction. This would signify a bearish continuation in the short to medium term. Key Characteristics: Wave B often includes triangles and is a counter-trend wave within an ABC correction. The descending triangle in this context leads to a downward breakout. Rules and Observations from the Chart: Descending Triangle Rules: The lower boundary (horizontal support) is tested multiple times but remains intact until the breakout. The upper boundary is a descending trendline created by lower highs. The triangle consists of 5 waves (A-B-C-D-E) following a 3-3-3-3-3 pattern. Key Levels: Support Line: A critical level to watch. If this breaks, it triggers the bearish scenario (Setup 2). Resistance Line: If the price breaks above the descending trendline, it confirms the bullish Wave 5 scenario (Setup 1). Critical Decision Point: The outcome of the triangle (upward or downward breakout) will dictate whether Setup 1 (Wave 4) or Setup 2 (ABC correction) plays out. Conclusion: Bullish Case (Setup 1): The correction completes, and the price resumes its uptrend into Wave 5. Bearish Case (Setup 2): The correction deepens, and the price declines further into Wave C.
NSE:BANKNIFTY
by subhagghosh
RSI divergenceRSI divergence happens when the price and the RSI move in opposite directions. This signals that the current trend may be losing momentum and could reverse soon. For example, if the price keeps rising but the RSI starts falling, it could mean the uptrend is weakening. How RSI Works. RSI values are typically used to identify overbought and oversold conditions. A reading above 70 suggests that the asset may be overbought and could be due for a downward correction. On the other hand, a reading below 30 indicates that the asset may be oversold, signalling a potential upward reversal.
BSE:SENSEXEducation
by SkyTradingZone
ADX in trading The average directional index (ADX) is a technical indicator used by traders to determine the strength of a financial security's price trend. It helps them reduce risk and increase profit potential by trading in the direction of a strong trend. Key takeaways. Average directional index (ADX) is a short-term chart indicator. It can be used to help you evaluate the market or an investment's strength. ADX currently suggests the short-term momentum behind stocks may be strong, with a caveat.
NSE:NIFTYEducation
by SkyTradingZone
Option in trading Options are a type of contract that gives the buyer the right to buy or sell a security at a specified price at some point in the future. An option holder is essentially paying a premium for the right to buy or sell the security within a certain time frame. Options are a type of contract that gives the buyer the right to buy or sell a security at a specified price at some point in the future. An option holder is essentially paying a premium for the right to buy or sell the security within a certain time frame.
NSE:NIFTYEducation
by SkyTradingZone
Price action trading In simple terms, price action trading is a technique that allows a trader to read the market and make subjective trading decisions based on recent and actual price movements, rather than relying solely on technical indicators. In general, trading Price Action patterns comes down to the following steps: Define the current trend you are going to trade. Mark the key support and resistance levels in the chart. Expect the price correction to the strong levels.
NSE:NIFTYLong
by SkyTradingZone
PCR in trading The Put-Call Ratio (PCR) is a popular technical indicator used by investors to assess market sentiment. It is calculated by dividing the volume or open interest of put options by call options over a specific time period. A higher PCR suggests bearish sentiment, while a lower PCR indicates bullish sentiment. A PCR at one (=1) suggests that investors are purchasing the same amount of put options as call options and signals a neutral trend going forward. No PCR is considered ideal, but a PCR below 0.7 is typically viewed as a strong bullish sentiment while a PCR above 1 is typically viewed as a strong bearish sentiment.
NSE:BANKNIFTYEducation
by SkyTradingZone
NIFTY Intraday Trade Setup For 8 Jan 2025NIFTY Intraday Trade Setup For 8 Jan 2025 Bullish-Above 23800 Invalid-Below 23750 T- 24055 Bearish-Below 23550 Invalid-Above 23600 T- 23300 NIFTY has closed on a slight bullish note with 0.39% gain today, majorly contributed through gap up opening. It was just at 23700 zone. Tomorrow index may slide again below 23600 as index is in good bearish grip. However free fall scenario possible below 23550. In case 23800 is taken out in the higher side then it can test 24k once again. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 23800 then we will long for the target of 24055. For selling we need a 15 Min candle close below 23550. T- 23300 In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:NIFTY
by Omahto
Nifty Intraday Analysis for 7th January 2025NSE:NIFTY Index closed near 23615 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 24200 Strike – 101.70 Lakh 24000 Strike – 93.24 Lakh 24100 Strike – 76.54 Lakh Put Writing 23300 Strike – 49.24 Lakh 23500 Strike – 40.70 Lakh 23600 Strike – 39.55 Lakh Index has resistance near 23750 - 23800 range and if index crosses and sustains above this level then may reach near 23950 - 24000 range. Index has immediate support near 23500 – 23450 range and if this support is broken then index may tank near 23250 – 23200 range. If the Index doesn't bounce back from day low, another round of downside moment is expected due to fresh development of the HMPV threat.
NSE:NIFTY
by RKMAURYA
Midnifty Intraday Analysis for 7th January 2025NSE:NIFTY_MID_SELECT Index closed near 12695 level and Maximum Call and Put Writing near CMP as below in January Month contract: Call Writing 13000 Strike – 7.09 Lakh 12800 Strike – 3.524 Lakh 12700 Strike – 2.40 Lakh Put Writing 13000 Strike – 5.62 Lakh 12800 Strike – 4.64 Lakh 12700 Strike – 3.95 Lakh Index has immediate resistance near 12800 – 12850 range and if index crosses and sustains above this level then may reach 12950 – 13000 range. Index has immediate support near 12650 – 12600 range and if this support is broken then index may tank near 12500 – 12450 range. If the Index doesn't bounce back from day low, another round of downside moment is expected due to fresh development of the HMPV threat.
NSE:NIFTY_MID_SELECT
by RKMAURYA
Banknifty Intraday Analysis for 7th January 2025NSE:BANKNIFTY Index closed near 49920 level and Maximum Call and Put Writing near CMP as below in January Month contract: Call Writing 51000 Strike – 13.72 Lakh 50000 Strike – 6.47 Lakh 50500 Strike – 5.02 Lakh Put Writing 49000 Strike – 12.14 Lakh 50000 Strike – 11.73 Lakh 51000 Strike – 11.61 Lakh Index has resistance near 50300 – 50400 range and if index crosses and sustains above this level then may reach near 50800 – 50900 range. Index has immediate support near 49500 - 49400 range and if this support is broken then index may tank near 49000 - 48900 range. If the Index doesn't bounce back from day low, another round of downside moment is expected due to fresh development of the HMPV threat.
NSE:BANKNIFTY
by RKMAURYA
Finnifty Intraday Analysis for 7th January 2025NSE:CNXFINANCE Index closed near 23320 level and Maximum Call and Put Writing near CMP as below in January Month contract: Call Writing 24000 Strike – 1.12 Lakh 23800 Strike – 0.55 Lakh 23500 Strike – 0.44 Lakh Put Writing 24000 Strike – 1.23 Lakh 23800 Strike – 065 Lakh 23500 Strike – 0.51 Lakh Index has resistance near 23500 - 23550 range and if index crosses and sustains above this level then may reach near 23700 - 23750 range. Index has immediate support near 23200 – 23150 range and if this support is broken then index may tank near 23050 – 23000 range. If the Index doesn't bounce back from day low, another round of downside moment is expected due to fresh development of the HMPV threat.
NSE:CNXFINANCE
by RKMAURYA
Nifty levels - Jan 08, 2025Nifty 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