S&P CNX NIFTY INDEX FUTURES
No trades
Market insights
nifty summarizing this week trade Nifty gave a good fall on monday breaking the weekly supply zone . since Tuesday to Thursday market took too much time to give break out and break down of swing demand zone . no clear direction. today market gave a great fall . reaching the target of FI zone . 500 points done in nifty .
Todays trade Plan in niftyWe will wait for the price to reach a key zone either demand or supply . Observe price reaction at zone and trade in the direction of price reversal in both cases target will be next zone and sl will be above or below zone. Today the price is below a swing / weekly zone in this cases market is observed to be sideways until it gives break out or break down of a swing weekly zone.
Trade Plan in niftyTrade Plan in nifty . We will wait for price to reach a zone. If reaches supply on rejection on supply zone we will take a sell side trade targeting demand zone. If reached demand we will take buy side trade targeting supply zone. Sl will be below and above zone. Wait for the price to reach a key zone. Then only intitate a trade .
NIFTY'S DARK CLOUD COVR WILL IT FORM BOTTOM OR FALL FURTHER ?
Nifty 50 which has formed this two candle pattern (green Candle followed by Red candle covering almost 50% or more of previous green candle body) in some instances it is perfect Dark Cloud Cover Candle Pattern
Just check similar pattern was formed on following dates
15-oct -24 --- Followed by bearish trend and fall in prices
17-Nov-24 --- Followed by Bearish trend and fall in prices
16-Dec 24 --- Followed by Bearish Trend and fall in prices.
So Now what does it hold ?
Just check closely Prior to 16th Dec 2024
1. Nifty was forming Lower top and Lower Bottom
2. RSI was sloping down wards
However during 3rd Dec,24 to 15 Dec 24 nifty formed a High top and
Formed Higher bottom on 1st Jan-2025.
and RSI is now sloping upwards
Now same pattern appears on NIFTY chart again
what do you think will happen on index now ? Share your views
Will Nifty hold its higher low and move upwards ?
Or
Will it continue its down trend again ?
Nifty ViewWe can see 23478 soon in Nifty and if it breaks this levels then 23300/23200 can be seen very easily.
Disclaimer: All information give is for educational purposes. Please consult your financial advisor before investing.
If you like such content please subscribe and share it with your Trader Friends or Family Members.
For more such content. Stay Tuned.
GIFT NIFTY (SANTA RALLY)
Triangles are fascinating chart patterns in technical analysis. There are three main types: ascending, descending, and symmetrical. Each indicates different market conditions and potential price movements. Here's a quick overview:
Ascending Triangle: This bullish pattern features a horizontal resistance line and an ascending support line. It suggests that buyers are gaining strength and a breakout to the upside is likely.
Descending Triangle: This bearish pattern has a horizontal support line and a descending resistance line, indicating that sellers are gaining control and a breakdown to the downside is probable.
Symmetrical Triangle: This neutral pattern consists of converging trendlines, with neither buyers nor sellers having a clear advantage. The breakout can occur in either direction, and the subsequent move is often significant.
PRE MARKET ANALYSIS OF NIFTY FOR 24 DEC 202424 Dec 2024
WORLD MARKETS
1. World Markets are bearish.
INDIA VIX AND GIFT NIFTY
1. India VIX is down 10% Indicating reduction in volatiltiy . This due to Gap up today.
2. GIFT Nifty is indicating 84 points down tick at 23680 levels.
INDEX HEAVY WEIGHTS
1. HDFC Bank has made a bullish candle. Any breakout above 1805 is bullish. However any break below 1795 will be bearish.
2. ICICI Bank is neutral. Move above 1306 is bullish and move below 1285 is bearish.
3. Reliance is bearsih. It is sell on rally.
TRADING PLAN.
1. NIFTY OPEN BETWEEN 23835 - 23705 : No Trade.
2. NIFTY OPEN ABOVE 23835 : Wait for a consolidation and break above 23900.
3. NIFTY OPEN BELOW 23705 : Wait for a consolidation and break below 23630.
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.






















