#Nifty Future View ( 20th Nov '23 )Hello Guyssss.. For Monday, If Dow Jones are flat to mild negative today then my levels are same as of today, Nifty Fut Support Zone are 19747-17670.. Buy near this zone.. Nifty is having strong support here as for Monday too.. I'll update if there is any alteration to be made in Levels..
Trade ideas
NIFTY FUTURE at the weekly sell zone, watch out the zones !!!NSEIX:NIFTY1! nifty future has arrived at the crucial pint where it can give a possible pull back if the mentioned/marked support breaks and we get a retest negative price action, if breaks above the current resistance/sell zone then future can hit the 20k mark
nifty fture 19500 psychological level, what to check ahead?NSEIX:NIFTY1! as mentioned in previous post, nifty future is pushung for 19500 level with a retest on 19385 zone, in process we can see a wedge pattern has formed at important area of interest, keep checking the wedge movement with respect to the zones marked.
if we see a selling/profit booking at 19500 level, market may inch towards 19200 zone.
upside target can be upto 19680 zone if sustains above 19550.
Nifty primed for a deeper pull back
Continuous ascent from 20-Mar of about 20% gain, without any weekly pullback.
Weakness exhibited on 21-August. Current levels are below the August weekly close.
On 26-Oct, likely to test 19233 for expiry.
Price over 19233 looks temporary and a good spot to accumulate Nov shorts with targets at 18646, 17900, and 17200.
18350 Puts are also well priced with 7x to 20x returns, for hedging, should there be a deeper pull back.
Gift Nifty 50 is displaying a breakout
1. **Nifty 50 Breakout Flag and Pole:**
- A breakout occurs when the price of a security moves above a certain resistance level, signaling a potential upward trend.
- A flag and pole pattern is a technical analysis chart pattern that looks like a flag on a pole. The pole is a strong, quick price movement, and the flag is a consolidation period before the price continues its trend.
2. **Rectangle Pattern:**
- A rectangle pattern is a continuation pattern where the price consolidates within a horizontal range. It indicates a temporary pause in the trend before a potential continuation.
3. **Bullish Outlook:**
- If there's a breakout from the flag and pole pattern, along with the rectangle pattern, it suggests a bullish trend continuation.
4. **Next Target: 19660:**
- This implies that the next projected target for the Nifty 50 index is 19660. This target is likely based on the technical analysis of the chart patterns mentioned.
**Brief Summary:**
- The Nifty 50 is displaying a breakout from a flag and pole pattern, accompanied by a rectangle pattern, indicating a potential bullish continuation.
- Traders may consider a bullish stance with a target of 19660 for the Nifty 50 index.
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