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Nifty Intraday Support & Resistance Levels for 17.10.2024On Wednesday, Nifty opened with a gap down, reaching a high of 25,093.40 and a low of 24,908.45, closing the day at 24,971.30, losing 86 points from the previous close. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) is sideways. Nifty Demand/Support Zones for 17.10.2024: Near Demand/Support Zone (Daily): 24,753.15 - 25,130.50 (current price inside the zone) Far Demand/Support Zone (Daily): 24,522.95 - 24,636.35 Far Demand/Support Zone (Daily): 24,099.70 - 24,196.50 Far Demand/Support Zone (Weekly): 23,893.70 - 24,419.75 Nifty Supply/Resistance Zones for 17.10.2024: Near Supply/Resistance Zone (5m): 25,045.45 - 25,059.05 Near Supply/Resistance Zone (15m): 25,195.85 - 25,234.05 Far Supply/Resistance Zone (15m): 25,420 - 25,485.05 Far Supply/Resistance Zone (15m): 25,500.95 - 25,545 Near Supply/Resistance Zone (Daily): 25,739.20 - 25,907.60 Far Supply/Resistance Zone (Daily): 26,151.40 - 26,277.35
NSE:NIFTY
by PriteshPal
NIFTY50: INSTITUTIONAL LEVELS FOR 17/10/2024QUICK GUIDE - Use 5 minute timeframe - Try to take enters at retest - Use multiple confirmation - Read full description before investing - Try to take ATM options or above Explanation: This is a very useful trading system. This means that you should not take a trade blindly, but rather that there is another confirmation to take the trade you can use this for perfect entry and perfect exit This trading opportunity is based on volume, previous price, and price range , are included Entry/Exit point's: - It has very easy entry and exit points - In this pair of lines with two colors are given (RED AND BLUE) - In this the blue line is used to take long entry and the red line is used to take short entry (But it is all based on a more conformation from your trading plan) Stop Loss/Take Profit: Stop Loss - According to this, if you take a long trade, its stop loss will be the red line just below ( A trade can exit either when the price crosses the red line or the 5 minute candlestick crosses the red line. (This can be done according to your preference) ) - A short entry should use the opposite rules to a long entry Take Profit -When you take a long entry according to the profit to be booked is on the next red line above. ( Or if there are other reasons, it can be a safe exit ) - Opposite rules for booking profit on long entry are to book profit on short trade. ( The blue line above is the stop loss of short entry ) Timeframe: According to this, the time frame you should use while taking trades is 5 minutes time frames . (5 minute time frame works well in this) Risk Disclaimer: Trading carries significant risk and is not suitable for all traders. You may lose some or all of your capital in a matter of minutes or hours. Market conditions can change rapidly, and prices can move against you quickly. You may not always be able to exit at a favorable price, and you may be required to hold a position overnight, exposing yourself to additional risk. Day trading involves high risk, high leverage, and high stakes, and you should only trade with funds you can afford to lose. Please carefully consider your financial situation, risk tolerance, and trading objectives before engaging in day trading. Engagement: Share your insights, ask questions, and learn from others in the community. Whether you're a seasoned pro or just starting out, we're all in this together. What's your take on the current market conditions? Which trading strategies are working for you? Let's discuss and help each other grow as traders! Comment below and let's get the conversation started! Original Content: This trading setup is the result of my own innovation and expertise, and is not based on any publicly available information or third-party systems. It is a reflection of my dedication to developing a competitive edge in the markets.
NSE:NIFTY
by tony_fx_sm
Nifty 24765,24425 downside Target sell on rise until 25250 not bDisclaimer - 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
NSE:NIFTYShort
by JaiPrakashShuklaHarmonicTrader
1
PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 18 OCT 202416 OCT 2024 WORLD MARKETS 1. World Markets are consolidating with a positive bias. After rally, a pull back may be in Order. INDIA VIX AND GIFT NIFTY 1. India VIX is still above 12 indicating bearishness. 2. GIFT Nifty as of now is indicating a 45 points uptick at 25020. This amounts to 51930 for bank nifty. INDEX HEAVY WEIGHTS 1. HDFC Bank QE sep result will be out tomorrow.So It may remain volatile. It has resistance at 1715. 2. ICICI Bank is still range bound between 1230 - 1255. 3. Reliance is still bearish. It has resistance at 2722 -2740. TRADING PLAN 1. NIFTY OPEN BETWEEN 25020 - 24920: Sell any rally to 25050 and fall below 24975. 2.NIFTY OPEN ABOVE 25020 : Sell any rally to 25090. 3. NIFTY OPEN BELOW 24920: Sell any rally to 25020 and break below 24980. 4. BANK NIFTY OPEN BETWEEN 51711- 51890: No Trade. 5. BANK NIFTY OPEN ABOVE 51890 : Sell any rally to 52000 and break below 51890. 6.BANK NIFTY OPEN BELOW 51711: Wait for a consolidation and break below 51600 decisively. We can sell call for any rally to 51900. 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:NIFTY
by sam20051968
NIFTY CautionHi all Today would like to throw some light on RSI on Monthly Charts based on previous reactions. This is just my personal observation but not a Recommendation. As we see when RSI reached above 80 levels on monthly chart, we observed good correction happening previously since 2007 which is already marked on chart, same wise when ever its reaching near to 80 and above 80 indicates some pressure. After 2008 crash we can observe it has reached twice almost to and above 80 levels in RSI and given almost average of 18% correction in after time. The same we got it now and marked on chart, this is just a view, I may be wrong too... Note: Some pull back is expected as per PCR or it may be a Time correction to cool off PCR. Please hit Like and share for supporting me to share knowledge and experience that i had.
NSE:NIFTY
by gttsudhakar
4
Nifty trades and targets for - 17/10/24Hello Everyone. The market was in a very tight range the previous day. Let the resistance or support range break with 15-minute candle before going for any trades. If the market opens flat then we can see continuation of trend. If it opens gap up then we need to see the resistance level to break before looking for CE trades. If it opens gap down then look for PE trades after support zone is broken. Let the market settle in first 15 to 30 minutes then look for directional trades. Book profits every 30 points as we are getting very few trending moves.
NSE:NIFTY
by GOPISRI
1
Nifty Intraday Analysis for 16th October 2024NSE:NIFTY Index closed near 25055 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 25200 Strike – 91.44 Lakh 25500 Strike – 70.89 Lakh 25100 Strike – 69.77 Lakh Put Writing 25000 Strike – 60.86 Lakh 24500 Strike – 47.97 Lakh 24900 Strike – 31.22 Lakh Index has resistance near 25200 – 25250 range and if index crosses and sustains above this level then may reach near 25450 - 25500 range. Index has immediate support near 25000 – 24950 range and if this support is broken then index may tank near 24850 – 24800 range.
NSE:NIFTYLong
by RKMAURYA
Nifty levels - Oct 17, 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
MILLIONAIRE TRADER'S advice"One Conversation Changed Everything" Recently, I had the privilege of speaking with a millionaire stock trader (NOT THE YOUTUBER MILLIONAIRE TRADER), and the insight I gained was both simple and profound: HE SAID ONE LINE "Pros take losses. Everyone else loses." This statement hit me hard. It’s a reminder that in both trading and life, it's not about avoiding failure—it's about managing it. The most successful people don't win by never losing; they win by knowing when to take a loss and move forward. It’s a lesson that goes beyond the markets. Whether in business or personal growth, knowing how to cut your losses is the key to long-term success. Would love to hear your thoughts on this powerful lesson! 👇 FOLLOW ME for more such content ahead
NSE:NIFTYEducation
by keshevdugar
6
Importance of Backtesting in Technical AnalysisHello mates, I hope you all are doing well and doing your trading well, so today I have brought an educational post for you in which we will understand the importance of backtesting in technical analysis, so let's start quickly. The Importance of Backtesting in Technical Analysis In the world of financial markets, technical analysis plays a crucial role in forecasting price movements by analyzing past market data, such as prices and volume. Backtesting is one of the most critical tools in technical analysis, as it allows traders to assess the effectiveness of their trading strategies before applying them in real-world scenarios. This article delves into the significance of backtesting, how it works, and its benefits and limitations. What is Backtesting? Backtesting is the process of applying a trading strategy or model to historical market data to evaluate how well it would have performed. The purpose is to determine if the strategy has the potential to generate profits under real market conditions. By simulating the trades a strategy would have executed, traders gain valuable insights into its strengths, weaknesses, and overall profitability. For example, if a trader develops a moving average crossover strategy, backtesting helps assess how well it would have worked over the past few months or years, based on actual price trends and market behavior. Why is Backtesting Important in Technical Analysis? 🔸Helps Validate a Strategy's Effectiveness Backtesting ensures that a trading idea has merit before real money is put at risk. It shows whether a strategy can generate profits under historical market conditions or if adjustments are needed. A well-backtested strategy provides confidence to the trader by showing favorable past results. 🔸Identifies Flaws and Risks Early Without backtesting, traders might unknowingly use a flawed strategy that could lead to losses. It acts as a reality check, revealing potential weaknesses in a strategy and helping traders avoid costly mistakes. Risks such as overfitting—when a strategy performs well on historical data but poorly in the real world—can also be identified during this process. 🔸Optimizes Entry and Exit Points By analyzing past trades, traders can determine the best points to enter or exit the market. It allows for the fine-tuning of parameters such as stop-loss levels, profit targets, and timeframes to maximize returns. 🔸Improves Risk Management Backtesting provides insight into the potential risks associated with a strategy, such as drawdowns (peak-to-trough decline in equity). Understanding these risks helps traders design better risk management rules, ensuring they don’t lose more capital than they can afford. 🔸Builds Confidence in Trading Decisions Confidence plays a significant role in trading, as uncertainty can lead to hesitation or emotional decision-making. Knowing that a strategy has performed well in backtests gives traders the assurance to follow through with their plan, even during volatile market conditions. How Backtesting Works: Key Steps 🔸Choose a Strategy: Start by defining the rules of the strategy, such as indicators, entry and exit points, stop-loss levels, etc. 🔸Collect Historical Data: Obtain relevant historical market data, such as price movements and trading volumes, to apply the strategy. 🔸Simulate Trades: Use the strategy to execute simulated trades on the historical data as if they were real. 🔸Analyze Results: Review metrics like total return, win/loss ratio, drawdown, and risk-adjusted returns to evaluate the strategy’s performance. 🔸Optimize the Strategy: Adjust parameters if necessary to improve performance, ensuring the strategy isn’t overly optimized (i.e., overfitted). Benefits of Backtesting 🔸Saves Time and Resources: Traders can refine strategies without risking actual capital or spending time in live markets. 🔸Increases Probability of Success: A backtested strategy with positive results is more likely to succeed when applied to real trades. 🔸Prevents Emotional Bias: Since the strategy’s rules are fixed during backtesting, it reduces emotional interference in trading decisions. 🔸Provides Insight into Market Conditions: Traders can see how well a strategy works during different market conditions (e.g., bull or bear markets). Limitations of Backtesting 🔸Historical Data Does Not Guarantee Future Results: Just because a strategy worked in the past doesn’t mean it will succeed in the future, as market conditions can change. 🔸Overfitting Risk: Strategies that perform exceptionally well on past data may fail in real-time because they are too narrowly optimized for specific historical conditions. 🔸Inaccurate Data Issues: If the historical data used for backtesting contains errors or is incomplete, the results may not be reliable. 🔸Lack of Real-World Factors: Backtesting doesn’t account for real-world challenges like slippage (the difference between expected and actual trade prices) and changes in market liquidity. 📚 Conclusion-: Backtesting is an essential component of technical analysis, enabling traders to validate, refine, and optimize their strategies before deploying them in live markets. It helps mitigate risks, improve decision-making, and build confidence, making it a crucial step in the trading process. However, traders must be aware of its limitations and avoid over-reliance on historical performance. When combined with forward testing and sound risk management practices, backtesting can significantly enhance the probability of trading success. By understanding and properly applying backtesting, traders can turn theoretical strategies into practical tools for navigating the financial markets. 🎁Please like the idea if you like this work and leave a comment for motivation, Thanks in advance. Best Regards- Amit 🙋‍♂️
NSE:NIFTYEducation
by AMIT-RAJAN
3
#Nifty directions and levels for October 16th.Good morning, friends! 🌞 Here are the market directions and levels for October 16th. Market Overview: The global market is showing a moderately bearish sentiment, while our local market is following a similar trend. We anticipate a neutral to slightly gap-down opening today, with SGX Nifty indicating a negative start of -70 points as of 8 AM. In the previous session, Nifty saw a minor correction, but Bank Nifty maintained a moderately bullish sentiment. Structurally, Nifty is in a range-bound pattern, while Bank Nifty shows a slightly bullish structure. However, with SGX Nifty indicating a negative start today, if this happens, both indices may move in a range-bound structure. Let's explain this further in the charts. Nifty Current View: If the market starts with a gap-down, then the immediate support level (24983) will act as strong support. If the market finds support there, it could take a minimum pullback of 38% to 61% of the minor swing, likely continuing the same range-bound movement. This is the basic structure. Alternate View: The alternate view suggests that if the market breaks this level solidly or consolidates at that level, the correction is likely to continue towards 24882.
NSE:NIFTY
by Manickamtraders
NIFTY Levels for October 16, 2024NIFTY Levels for Today Here are the today's NIFTY Levels for intraday. Based on market movement, these levels can act as support, resistance or both. Please consider these levels only if there is movement in index and 15m candle sustains at the given levels. The SL (Stop loss) for each BUY trade should be the previous RED candle below the given level. Similarly, the SL (Stop loss) for each SELL trade should be the previous GREEN candle above the given level. Note: This idea and these levels are only for learning and educational purpose. Your likes /boosts gives us motivation for continued leaning and sharing ideas.
NSE:NIFTY
by RainingMoneywithTech
NIFTY INTRADAY LEVELS FOR 16/10/2024BUY BELOW - 25100 SL - 25020 TARGETS - 25160,25220,25280 SELL BELOW - 25020 SL - 25100 TARGETS - 24950,24890,24800 NO TRADE ZONE - 25020 to 25100 Previous Day High - 25220 Previous Day Low - 25020 Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. Please NOTE: this levels are for intraday trading only. Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. Request your support and engagement by liking and commenting & follow to provide encouragement HAPPY TRADING 👍
NSE:NIFTY
by Jagadheesh_JP
Nifty Intraday Support & Resistance Levels for 16.10.2024On Tuesday, Nifty opened with a gap up, hitting a high of 25,212.05 as it touched the 15-minute supply zone from the previous post. However, it reversed sharply, dropping 200 points to a low of 25,008.15, eventually closing at 25,057.35, down by 70 points. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) stays sideways. Nifty Demand/Support Zones for 16.10.2024: Near Demand/Support Zone (Daily): 24,753.15 - 25,130.50 (current price inside the zone) Near Demand/Support Zone (75m): 24,928.05 - 24,979.10 Far Demand/Support Zone (Daily): 24,522.95 - 24,636.35 Far Demand/Support Zone (Daily): 24,099.70 - 24,196.50 Far Demand/Support Zone (Weekly): 23,893.70 - 24,419.75 Nifty Supply/Resistance Zones for 16.10.2024: Near Supply/Resistance Zone (15m): 25,420 - 25,485.05 Far Supply/Resistance Zone (15m): 25,500.95 - 25,545 Near Supply/Resistance Zone (Daily): 25,739.20 - 25,907.60 Far Supply/Resistance Zone (Daily): 26,151.40 - 26,277.35
NSE:NIFTY
by PriteshPal