Nifty head & shoulder breakoutNifty has formed head and shoulder
With neckline around 24750
If this break down target comes around 24000 & 23300
INDIA50CFD trade ideas
Nifty 24765 Target hit next 24450, 24135 ,23840 trail sl 25050Disclaimer -
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 30% retracement Which is D points then take Entry on Buy or Sell Trade
SL -
SL is (-3%) Which is mentioned in Chart . our SL is just above or below of Recent high or Low .
TARGET -
Target 1- (T1 : 61.8 %)
Target 2- (T2 : 88.6 %)
Target 3- (T3 : 127.2 %)
Target 4- (T4 : 161.8 %)
Please note:-
It's working on news based and volitile market very well so exit if SL hit
Nifty - Head and Shoulder -DailyThis chart represents a technical analysis of the Nifty 50 Index using two key indicators:
1. **Head and Shoulders Pattern**:
- The chart highlights a classic **Head and Shoulders** pattern, where there are two shoulders (left and right) with a higher peak in the middle (the head). This pattern suggests a potential bearish reversal.
- The **neckline** is drawn -24,800 which will ack as Stoploss also, which, when broken, confirms the bearish trend.
- The measured **breakdown** distance (from the neckline to the head) is mirrored below the neckline, indicating the target 23,133 for potential further declines.
2. **Fibonacci Retracement Levels**:
- Fibonacci levels are overlaid on the chart, indicating possible support and resistance levels.
- The 0.618 Fibonacci level, which is often a significant support zone, is marked at **24,801.55**, which appears to be near the current price of **24,749.85**.
- Other important levels include 0.5 (25,083.35) and 0.786 (24,400.40), which could also act as pivot points.
The large price drop near the end, after a right shoulder formation, along with the bearish volume spikes, suggests the index is under selling pressure, and further declines are possible if the support levels are broken.
NIFTY# At the Inflection pointIf we hold the recent lows, that would officially be a double bottom and we should be heading towards 25200 in 1-2 weeks. Above that, it would be a grind on the way up to reclaim the ATH. However, should this territory not be defended, we are heading for another leg fall, probably towards 24100-24000. Whichever ways it is, Market is at a level to give good trading opportunities in coming days. Trade well folks. Save losses, make money.
PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 18 OCT 202417 Oct 2024
WORLD MARKETS
1. World Markets are trading with all time high.
INDIA VIX AND GIFT NIFTY
1. India VIX has gone above 13 indicating bearishness is here to stay.
2. GIFT Nifty is indicating 80 points down tick at 24670. This amounts to 51040 for bank nifty.
INDEX HEAVY WEIGHTS
1. HDFC Bank has turned bearish. It has good support at 1640. Any break of 1635 will lead to 1625 levels.
2. ICICI Bank is still in the range. 1200 is still a good support. Any break of 1200 is bearish.
ANALYSIS
1. Infy has come up with result which is generally good. HDFC Bank is coming up with result tomorrow post market. But the fact remains that Bajaj Auto which come with a good result is down 12 % today.
2. So market may remain volatile.
3. Nifty has good support at 24500. Bank Nifty has good support at 51040 and any break of 51000 decisively will be bearish for a tgt of 50700.
TRADING PLAN
1. NIFTY OPEN BETWEEN 24832 - 24667 : Sell Any rally to 24850.
2. NIFTY OPEN ABOVE 24832: Sell Any rally to 24915 and break below 24830 decisively.
3. NIFTY OPEN BELOW 24667: Sell any rally to 24700.
4. BANK NIFTY OPEN BETWEN 51500 - 51040. Sell any rally to 51500.
5.BANK NIFTY OPEN ABOVE 51500 : Sell any consolidation between 51600 -51400 and break below 51400 decisively.
6.BANK NIFTY OPEN BELOW 51040: Sell any rally to 51400.
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.
VIEW ON NIFTYBuy zone: 24700-24800
Target 24850/24900/24950/25000
Stop loss 24650
Sell zone: 24850-24950
Target 24800/24750/24675/24600
Stop loss 25000
I am just representing my views
For educational purpose only.
NIFTY TOMORROW PREDICTION NIFTY makes Head and shoulder pattern in 1H Time frame ..........if it's breaking the levels then We will see in negetive movement in market...
Nifty 50 has broken through the floor of a rising trend channel in the short term. This indicates a slower rising rate at first, or the start of a more horizontal development. The index has broken a head and shoulders formation. A decisive break, preferably with increasing volume, is considered a confident signal of the start of a falling trend. The index has broken down through support at points 25000. This predicts a further decline. RSI below 30 shows that the momentum of the index is strongly negative in the short term. Investor have steadily reduced the price to sell the index, which indicates increasing pessimism and continued falling prices. However, particularly in big stocks, low RSI may be a sign that the stock is oversold and that there is a chance for a reaction upwards. The index is overall assessed as technically negative for the short term.
Nifty Head n Shoulder on Daily ChartNifty Making Head n Shoulder in daily chart, it closed at support level(neckline) if it breaks the support then bigger fall expected. next levels 24450,24200,23925
Nifty Intraday Analysis for 17th October 2024NSE:NIFTY
Index closed near 24970 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
25500 Strike – 115.91 Lakh
25200 Strike – 101.49 Lakh
25000 Strike – 89.50 Lakh
Put Writing
24500 Strike – 65.98 Lakh
25000 Strike – 58.70 Lakh
24800 Strike – 54.30 Lakh
Index has resistance near 25000 – 25100 range and if index crosses and sustains above this level then may reach near 25250 - 25300 range.
Index has immediate support near 24850 – 24800 range and if this support is broken then index may tank near 24700 – 24650 range.
Nifty karo ya maro zone..Nifty hourly tringle pattern zone.. any side closing big move expected .downside limited just becoz of oversold zone. Risky player initiate buy signal nd sl will hourly candle close below lower line ..safest bat risk reward will b too big . Upside first target 25000/25100/25200/25396.
18 Oct 2024 - Nifty Predictions (Next Trading Day)1. Index Chart and Time Frames
Index: Nifty 50
Date: October 17, 2024
Time Frames:
Weekly (1W)
Daily (1D)
5-Minute (5M)
Monthly (1M)
2. Support and Resistance Levels
Support Levels:
Weekly Support: Approximately 24,500 (recent low)
Daily Support: Approximately 24,700 (recent low)
Resistance Levels:
Weekly Resistance: Approximately 25,000 (recent high)
Daily Resistance: Approximately 25,075 (recent high)
3. Market Scenario for Next Trading Day
Market Opening Likely to open flat or with a slight gap down based on recent price action.
Expected Trend Bearish to range-bound, starting with a slight gap down and then potentially stabilizing.
4. Options Strategies for Next Trading Day
Effective Strategies:
Bear Put Spread: Buy a put option at 24,700 and sell a put option at 24,600.
Straddle: Buy both a call and a put at 24,750 to capitalize on potential volatility.
5a. Calendar Spread Strategy
Idle Strikes for Calendar Spread:
Daily: 24,750
Weekly: 24,700
Monthly: 24,500
5b. Daily, Weekly, and Monthly Trends
Daily Bearish 24,700 (Support), 25,075 (Resistance)
Weekly Bearish 24,500 (Support), 25,000 (Resistance)
Monthly Bullish 24,500 (Support), 26,000 (Resistance)
6. Trading Recommendations for ATM, ITM, OTM
ATM Trade During market hours
ITM Trade During market hours
OTM Don't Trade Avoid unless volatility is expected
Note Better Not to Trade If market shows strong bearish signals or low volatility
Summary
The market is expected to open slightly down and may remain bearish or range-bound throughout the day.
Focus on bear put spreads and straddles for options strategies.
Monitor key support and resistance levels closely for potential reversals or breakouts.
This analysis is based solely on the provided charts and does not account for external market factors. Always consider your risk management strategies when trading.
Disclaimer: Do Manage your Risk and Money management, Do not Forget to PUT STOP LOSS.
Nifty levels - Oct 18, 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.
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Wishing you success in your trading activities!
NIFTY SUPPORT LEVELSNifty 50 has broken the important support level of 24821 and 24770.
RSI is declining along with Volume.
Important Support levels are 24540, 24160, 23888
Even though, 20 EMA is still above 50 EMA, it is declining and may fall below 50 EMA if the weakness in the market continues.
Scary nifty pattern HNSNifty is looking weakwith FII are continuously selling. Now it looks like the downfall is yet not over. Or it's just make believe. Well, it depends if neckline of HNS pattern is broken and confirms the pattern. Or it's just to scare weaker bulls. Only time will tell. Let's see.
Another thing to note is, if it falls, it will be solid 11% correction for Nifty. That will be a significant correction. A little more than anticipated.
Scary nifty pattern - HNSNifty is looking weak with FII continuesly selling. Now it looks like the downfall is yet not over. Or it's just make believe. Well, it depends if neckline breaks and confirms the pattern. Or it's a make believe and this will kick out weaker bulls? Only time will tell. Let's.
Another thing to note, that if it falls as per pattern, it will be a solid 11% correction for Nifty. That is significant correction.
Only time will tell.
Nifty50Nifty likely in minor degree (4)th wave, which is probably going to end near previous 4th wave of one lesser degree or retracement of 38.2% of wave (3). Let's see how it unfolds. For education purpose only, not recommending or advising for trade or investment.
buy niftyit has formed bullish gartley harmonic pattern in 1 hour chart. it may rise till 0.38%-0.61% of point CD. vire neagted below 27790 hourly closing basis
Nifty50 - 17-10-2024 ExpirySo pre open is positive to a tune of 47 points
With reliance positive Rs 25 up. & hdfc is negative 9. Rest all positive. Hence expecting to see a good move in the second half.
Follow hdfc reliance combo today for directions.
Reliance generally trends negative after 12:00 due to fii sellings. Both end earnings can come. Single directions won’t be there. So stay active n focus on combo directions.
Stans both side.
Strong support and strong resistance hill pattern
Head and Shoulder Formation on the daily chart of niftyNifty Daily chart is forming H&S pattern at the top. If the support of 24800 is broken on the closing basis then the next support level for nifty seems 24000 & 23500. RSI already showing weakness. Be cautious on taking long position in Nifty.
Nifty on Demand ZoneNifty is taking rejection from demand zone .
If sustains we can see upward moment till Supply Zone .
Nifty50 - 17-10-2024 ExpirySo pre open is positive to a tune of 47 points
With reliance positive Rs 25 up. & hdfc is negative 9. Rest all positive. Hence expecting to see a good move in the second half.
Follow hdfc reliance combo today for directions.
Reliance generally trends negative after 12:00 due to fii sellings. Both end earnings can come. Single directions won’t be there. So stay active n focus on combo directions.
Stans both side.
Strong support and strong resistance hill pattern
Pre Market Analysis NIFTY 50 17th oct 24Market Analysis NIFTY 50- 17th oct 24 - NIFTY opening 25027
SUPPORT - 24990 - PSY important support + Pivot ,also trendline will act as support if not sustained can breakdown to 24912
RESISTANCE -25069 can act as rejection level . WAIT n WATCH -9.45
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