BANK NIFTY Structure is looking Positive for next weekBank Nifty has broken out of its broader range and is now looking good for further upside continuation. 0.5% CRR cut announced by RBI is a huge positive for Banking stocks.
Market indices
NIFTY Market Structure is looking positive for next weekNifty is looking good for next week with a positive market structure. But it may undercut 24600 and test 24500 before resuming the rally. Immediate resistance is placed in the Zone of 24900-25000. But be careful trading the breakout of the high of the long legged Doji formed on Thrusday.
Banknifty ready for new ATH but consolidation needed next weekDisclaimer -
This information is only for educational purposes, this is not for any buy or sell recommendations .
On Our Harmonic pattern indicator
based trade setup take trade as explained below :-
ENTRY -
When price breaks Trailing SL (SL 27.2% )retracement Which is SL points then take Entry on Buy or Sell Trade
SL -
D points Which is recent High / Low mentioned in Chart is our SL
TARGET -
Target 1- (T1 : 38.2 %)
Target 2- (T2 : 50 %)
Target 3- (T3 : 61.8%)
Target 4- (T4 : 78.6 %)
Target 5- ( T5 : 88.6%)
Target 6- (T6 : 100 %)
Target 7- (T7 : 127.2 %)
Target 8- (T8 : 141.4 %)
Target 9- (T9 : 161.8 %)
Please note:-
It's working on news based and volitile market very well so exit if SL hit
Nifty levels for next week buy on dip continuesly buy from 24350Disclaimer -
This information is only for educational purposes, this is not for any buy or sell recommendations .
On Our Harmonic pattern indicator
based trade setup take trade as explained below :-
ENTRY -
When price breaks Trailing SL (SL 27.2% )retracement Which is SL points then take Entry on Buy or Sell Trade
SL -
D points Which is recent High / Low mentioned in Chart is our SL
TARGET -
Target 1- (T1 : 38.2 %)
Target 2- (T2 : 50 %)
Target 3- (T3 : 61.8%)
Target 4- (T4 : 78.6 %)
Target 5- ( T5 : 88.6%)
Target 6- (T6 : 100 %)
Target 7- (T7 : 127.2 %)
Target 8- (T8 : 141.4 %)
Target 9- (T9 : 161.8 %)
Please note:-
It's working on news based and volitile market very well so exit if SL hit
NIFTY- Intraday Levels - 9th December 2024If NIFTY sustain above 24697 above this bullish then 24800 then 24858 above this more bullish
If NIFTY sustain below 24657 to 24637 below this bearish then 24536 to 24528 below this more bearish then 24443 to 24419 very strong support and will be last hope for now or 24375 to 24357
My view ( for your study and analysis only, also consider my analysis could be wrong and to safeguard the trade risk management is must ) Probably buy on dip if come around 24536 or around 24443 consider not to stay on short side.
Consider some buffer points in above levels.
Please do your due diligence before trading or investment.
**Disclaimer -
I am not a SEBI registered analyst or advisor. I does not represent or endorse the accuracy or reliability of any information, conversation, or content. Stock trading is inherently risky and the users agree to assume complete and full responsibility for the outcomes of all trading decisions that they make, including but not limited to loss of capital. None of these communications should be construed as an offer to buy or sell securities, nor advice to do so. The users understands and acknowledges that there is a very high risk involved in trading securities. By using this information, the user agrees that use of this information is entirely at their own risk.
Thank you.
TRACK YOUR SUCCESSIn a world overflowing with information and distractions, journaling serves as a compass, guiding us toward self-awareness and growth. While the practice has been celebrated in personal development circles, its value extends significantly into the trading world. By journaling, you create a detailed record of your thoughts, emotions, decisions, and outcomes—data that can help refine your approach to life and trading alike.
What Is Journaling?
Journaling is the practice of recording your thoughts, actions, and reflections in written form. It can be as simple as jotting down your day-to-day experiences or as structured as maintaining detailed logs of your trading activities. In essence, it’s a habit of observing, documenting, and analyzing your journey to foster growth and improvement.
Why Journal Your Life and Trades?
1. Improved Decision-Making
- Life: Reflecting on daily choices reveals patterns and recurring themes, helping you make more informed future decisions.
- Trading: A trading journal documents your strategies, entry and exit points, and emotional state during trades. Reviewing this data illuminates what works and what doesn’t.
2. Emotional Regulation
- Life: Journaling provides a safe space to express emotions and clear mental clutter.
- Trading: Writing down your emotions before, during, and after trades can help identify biases, such as fear or greed, that influence your performance.
3. Accountability and Discipline
- Life: Regularly writing down goals and tracking progress holds you accountable.
- Trading: Documenting every trade creates a structured routine, fostering discipline and preventing impulsive decisions.
4. Tracking Progress
- Life: Seeing how far you’ve come in various aspects of your life can be incredibly motivating.
- Trading: Analyzing your win rates, risk-reward ratios, and other metrics helps measure growth as a trader.
Good Examples of Journaling
1. Life Journaling
- Morning Reflection: "What are the three things I want to achieve today? How do I feel right now?"
- Evening Summary: "What went well today? What could have gone better? What did I learn?"
2. Trading Journaling
- Trade Details:
- Date and time
- Asset traded
- Entry and exit points
- Position size and risk level
- Thought Process:
- Why did I enter this trade?
- What was my strategy?
- Did I stick to my plan? If not, why?
- Emotional Analysis:
- How did I feel before entering the trade?
- What emotions surfaced during the trade?
- Did these emotions affect my decisions?
Journaling Formats
- Digital Journals: Use platforms like Excel or tradezella.
- Physical Journals: A notebook allows for freeform thoughts and creative expression.
Conclusion
Journaling is more than a habit; it’s a tool for self-discovery and mastery. For traders, it transforms the chaotic world of markets into a structured learning ground. For individuals, it turns life’s noise into clarity. By committing to this practice, you set the stage for consistent growth, both personally and professionally. So, pick up that pen (or open that app), and start journaling your life and trades today—you’ll be amazed at the insights and improvements it brings!
Your Turn
Do you already journal your trades or life? If yes, how has it helped you? If not, what’s stopping you from starting? Let’s discuss in the comments!
Nifty Bank index chart analysis This chart appears to show the Nifty Bank index with multiple technical indicators and patterns applied. Below is a detailed analysis of the chart:
________________________________________
Chart Features:
1. Candlestick Chart (Heikin Ashi):
• The candles represent smoothed trends, showing less noise compared to regular candlesticks.
• Bullish candles: Green, indicating upward momentum.
• Bearish candles: Red, indicating downward momentum.
• A potential double-top pattern is visible, with two resistance zones labeled "Top 1" and "Top 2." These often indicate a reversal from bullish to bearish.
2. Indicators Used:
• ATR Trailing Stops:
o Green arrows (support) suggest bullish trend continuation.
o Red arrows (resistance) indicate bearish trend zones.
• Support and Resistance Lines:
o The blue horizontal line at 53,160.65 acts as a support level.
o The purple resistance level near 53,888.30 marks the price zone where the price faced rejection.
• Volume:
o Green and red histogram bars represent buying and selling pressure, respectively.
o The volume is declining during the recent candles, indicating weak momentum.
• MACD:
o Two bearish divergences are marked, indicating a weakening bullish trend.
o The MACD line and signal line are declining, with the histogram turning negative, showing bearish momentum.
• RSI:
o The RSI is below 40, confirming bearish strength.
o Red dashed lines (overbought) and blue dashed lines (oversold) act as thresholds.
________________________________________
Observations:
1. Price Action:
• The chart shows a potential double-top pattern near 53,888.30, a strong resistance level. This is a bearish reversal pattern.
• The price has failed to break above this resistance level and is trending downward towards the support level at 53,160.65.
2. Volume:
• Volume is gradually reducing, suggesting reduced participation, which often leads to weaker trends or consolidations.
3. Bearish Divergence:
• MACD shows two instances of bearish divergence, signaling to weaken bullish momentum despite price making higher highs (visible at the double top).
• These divergences align with the price's inability to sustain above the resistance zone.
4. Indicators Confirm Bearish Momentum:
• RSI is declining, showing a bearish trend.
• MACD histogram bars are negative, reinforcing the downtrend.
________________________________________
Key Levels to Watch:
Resistance Levels:
• 53,888.30: A break above this level with strong volume could invalidate the bearish outlook and lead to further bullish movement.
Support Levels:
• 53,160.65: If the price breaks this level, expect further downside with the next possible support around 51,796.70.
________________________________________
Strategy Suggestions:
For Bulls:
• Wait for a breakout above 53,888.30 with strong volume before entering long positions.
• Avoid entering positions near resistance.
For Bears:
• Look for shorting opportunities if the price fails to break resistance or breaks below 53,160.65 with increased volume.
• Use a stop-loss just above 53,888.30 to manage risk.
Double-Top Confirmation:
• If the price breaks below the neckline of the double-top pattern (near 53,160.65), it could trigger a significant bearish move.
________________________________________
Nifty 50 index chart analysis This chart shows the Nifty 50 index with various technical indicators applied. Let me analyze it based on the visible elements:
-----------------------------------------------------------------------------------------------------------------
### Chart Features:
1. **Candlestick Chart (Heikin Ashi)**:
- The main price movement is represented by Heikin Ashi candles, which smooth out trends
and help identify clear bullish or bearish trends.
- Green candles represent bullish momentum, while red ones signify bearish momentum.
- The chart shows periods of consolidation and small trend movements, with some price rejections near support and resistance levels.
-----------------------------------------------------------------------------------------------------------------
2. **Indicators Used**:
- **ATR Trailing Stops**:
This is likely used as a dynamic stop-loss mechanism.
- Green markers suggest bullish conditions (support level).
- Red markers suggest bearish conditions (resistance level).
- **Support and Resistance Lines**:
The blue horizontal lines at **24,295.55** (support) and purple resistance zones at **24,742.45** are critical levels to watch for breakouts or reversals.
- **VolSpike**:
Volume spikes help identify sudden large trades or volatility events. The volume histogram
shows steady activity with no large spikes at the moment.
- **MACD (Moving Average Convergence Divergence)**:
Shows bearish divergence at one point (red label), indicating a potential reversal or
weakening trend.
- Histogram bars are below the zero line, showing bearish momentum.
- Signal and MACD lines are declining.
- **RSI (Relative Strength Index)**:
RSI appears below **40** and is declining, indicating bearish momentum.
- Blue dashed lines represent oversold levels, while red dashed lines are overbought levels.
-----------------------------------------------------------------------------------------------------------------
### Observations:
1. **Price Action**:
- The index recently tested the resistance zone near **24,742.45** but faced rejection
(evident from the long upper wicks).
- The overall trend seems bearish, with lower highs and lower lows forming over the last few
sessions.
2. **Volume**:
- Volume is relatively low, indicating reduced participation during this period, which might
suggest a lack of strong momentum.
3. **MACD and RSI**:
- Both indicators align with a bearish outlook:
- MACD shows a bearish crossover and momentum decreasing below the zero line.
- RSI is in the bearish zone, moving away from the oversold level, showing no immediate
reversal signs.
4. **Divergence**:
- Bearish divergence in MACD signals caution for bullish traders as it suggests underlying
weakness despite short-term bullish attempts.
-----------------------------------------------------------------------------------------------------------------
### Key Levels to Watch:
1. **Support**: **24,295.55**
If the price breaks this level, a significant downward move is possible.
2. **Resistance**: **24,742.45**
A breakout above this could indicate bullish strength.
-----------------------------------------------------------------------------------------------------------------
### Strategy Suggestions:
- **For Bulls**:
- Wait for a breakout above **24,742.45** with increased volume for confirmation of a bullish
reversal.
- **For Bears**:
- Consider shorting near resistance with a stop-loss above **24,742.45**, targeting
**24,295.55** or lower.
BANK NIFTY - Key levels for 09.12.24BANK NIFTY - Key levels for 09.12.24
1. Bank Nifty is at its power supply zone
2. As we are at the Selling zone, Longs should be very careful.
3. Also, we might hit ATH if this supply zone is not respected.
4. R1 and S1 are marked in the image.
It would be better to be cautious from from LONGS. Thank you.
Regards
Bull Man
Nifty Intraday Analysis for 6th December 2024NSE:NIFTY
Index closed near 24710 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
25000 Strike – 31.58 Lakh
24500 Strike – 26.84 Lakh
24500 Strike – 20.96 Lakh
Put Writing
24500 Strike – 40.76 Lakh
24000 Strike – 30.79 Lakh
24700 Strike – 18.31 Lakh
Index has resistance near 24800 – 24850 range and if index crosses and sustains above this level then may reach near 24950 - 25000 range.
Index has immediate support near 24500 – 24450 range and if this support is broken then index may tank near 24300 – 24250 range.
High volatility expected due to RBI MPC commentary on Inflation, GDP forecast and rate cut.
Banknifty Intraday Analysis for 6th December 2024NSE:BANKNIFTY
Index closed near 53605 level and Maximum Call and Put Writing near CMP as below in December Month contract:
Call Writing
54000 Strike – 17.57 Lakh
53000 Strike – 13.43 Lakh
54500 Strike – 9.56 Lakh
Put Writing
52500 Strike – 15.05 Lakh
53000 Strike – 12.44 Lakh
53500 Strike – 7.99 Lakh
Index has resistance near 54000 – 54200 range and if index crosses and sustains above this level then may reach near 54500 – 54600 range.
Index has immediate support near 53200 - 53000 range and if this support is broken then index may tank near 52850 - 52260 range.
High volatility expected due to RBI MPC commentary on Inflation, GDP forecast and rate cut.
Finnifty Intraday Analysis for 6th December 2024NSE:CNXFINANCE
Index closed near 24730 level and Maximum Call and Put Writing near CMP as below in December Month contract:
Call Writing
25000 Strike – 1.13 Lakh
24500 Strike – 0.60 Lakh
24600 Strike – 0.48 Lakh
Put Writing
24000 Strike – 1.17 Lakh
24500 Strike – 0.79 Lakh
24500 Strike – 0.75 Lakh
Index has resistance near 24850 - 24900 range and if index crosses and sustains above this level then may reach near 25000 - 25100 range.
Index has immediate support near 24600 – 24550 range and if this support is broken then index may tank near 24375 – 24325 range.
High volatility expected due to RBI MPC commentary on Inflation, GDP forecast and rate cut.
Midnifty Intraday Analysis for 6th December 2024NSE:NIFTY_MID_SELECT
Index closed near 12935 level and Maximum Call and Put Writing near CMP as below in December Month contract:
Call Writing
13000 Strike – 4.86 Lakh
13300 Strike – 2.96 Lakh
13200 Strike – 1.64 Lakh
Put Writing
13000 Strike – 2.38 Lakh
12700 Strike – 1.72 Lakh
12900 Strike – 1.63 Lakh
Index has immediate resistance near 13000 – 13050 range and if index crosses and sustains above this level then may reach 13150 – 13200 range.
Index has immediate support near 12800 – 12750 range and if this support is broken then index may tank near 12650 – 12600 range.
High volatility expected due to RBI MPC commentary on Inflation, GDP forecast and rate cut.
Nifty levels - Dec 09, 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!
BankNifty levels - Dec 09, 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!
Nifty AnalysisThe market is in uptrend while making Higher Highs and Higher Lows. Initially it taped into order flow before breaking and closing above Higher High, ie, conforming Break of Structure (BOS) and Higher Low (lowest point before making BOS).
After that, market mitigated order flow by sweeping inducement (pullbacks after BOS or possible liquidity zone areas) to make another Higher Low before another BOS.
As of now, it's in accumulation zone (zone before grabbing liquidity or Orders) to continue its uptrend.
NOTE : IT'S JUST AN OVERVIEW, AND WE CANNOT BE 100% SURE .
Bank Nifty -Head & Shoulder pattern visible with target of 46000Clear H & S pattern visible for long term in Bank Nifty with Target of 46000.
Same negativity is visible in Nifty also
S & P 500 target of 6125 will be achieved in 2 to 3 trading days which will induce selling in our market also.
This is my view for study purpose, pls do your research before executing trading.
Thanks
Let me know your view in comments
Megaphone at Bottom, NIFTY As per bottom, NIFTY gives break out till 24800 .formation of a good megaphone pattern .here sellers were lost control and ball went with buyers side.now any dip or pullback will be a good buy move till 25300 -25400 range. A good pullback can be seen here upto 24200 in coming days .
NIFTY TODAY The Nifty 50 chart on a 15-minute timeframe highlights key levels: resistance at 24,760 (green line) and support at 24,621 (orange line). Price consolidation is evident, with a red-circled area showing a false breakout, possibly influenced by today’s RBI policy announcement to keep the repo rate unchanged. This decision may have added to market volatility. The blue arrows suggest potential breakout directions—bullish above resistance and bearish below support. Volume spikes during specific candles signal heightened activity. A confirmed breakout beyond this range could provide trading opportunities, requiring careful entry and exit planning to align with prevailing market momentum.
DOW JONES INDUSTRIAL AVERAGE INDEX GANN VIEW 06 DEC 2024DJIA Index has moved up from third higher low of nearly 38400 levels around Aug 05, 2024. We saw consolidation around later part of Apr 2024 and first week of May 2024 near the levels of 37400 which was important level. Intermitent low came around May 2024 end in between these two levels. We completed one price cycle at the level of 43200 in mid Oct 2024. Pullback was arrested around 41400 ( 41647.30 atcual low Nov 04, 2024 ) which was above the two tops of 41376 on July 18, 2024 and 41585.21 on Aug 30, 2024. The index needs to sustain above the level of 45000 for further growth. Current swing low of 42938.87 was on Nov 19, 2024. Timewise Dec 18, 2024 needs to be watched and Pricewise we need to watch 45000 level. Above this level we we open for next target of 46800 and 48000.
Happy Trading !!!
N.B. Not a financial advice to buy or sell.With usual disclaimers as applicable within the reach of this beautiful trading analysis platform. Thanks to the developers of the program for this opportunity to use it freely to express our ideas to the community of traders.
BANKNIFTY: INSTITUTIONAL LEVELS FOR 06/12/2024Overview
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.
