Is this a valid breakout in nifty50 ?As of Now i don't trust this breakout. It is a short covering move and booking profits. Tomorrow we can plan a short trade again. But it will be in scalping mode max 50 to 70 points trade. Find short setup for tomorrow. We will wait for multiple confirmations for continue upside.
NIFTY1! trade ideas
BUY NIFTY 23250 PE 23rd JAN @ 130 - 135 | NIFTY SELL TRADENIFTY 23250 PE 23RD JAN EXP
NIFTY OPTIONS BUYING TRADE
TIME FRAME RECOMMENDED TO TRACK TRADE: 5 MINS
Hi Traders,
The Nifty index is encountering resistance at higher levels, presenting a potential sell-on-rise opportunity. We recommend exploring the 23250 Put Option (expiring on 23rd January) within the price range of ₹135–130. If the price declines further, consider adding to your position around ₹100–90.
Target levels: ₹170, ₹192, and ₹230
Stop Loss (SL): ₹75
Regards,
OptionsDaddy Research Team
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.
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