Manickamtraders

Manickamtraders Aug 26, 2024

Bank Nifty > In the previous session, Bank Nifty also closed with a consolidation structure. > SO, If the gap-up sustains and breaks the consolidation, it could reach a minimum of 51,214 or the 61% Fibonacci level. > The structure is also important here; if it breaks the consolidation with a solid candle, the rally will likely continue with some consolidation....

Manickamtraders Aug 25, 2024

Bank Nifty Bank Nifty had a significant swing, but it looks like a range-bound market. My expectation for this week is a sharp and long rally. that's If the market sustains around the 61% Fibonacci level, then it could reach a minimum of 51,563 and potentially up to the 78% level. This is our primary scenario. Alternate Variation: The alternate scenario is...

Manickamtraders Aug 25, 2024

Nifty and Bank Nifty Directions and Levels for August Last Week. Global Market Overview In the previous week, global markets experienced a long consolidation. By the end of the week, they closed with a solid green candle (based on the Dow Jones). Structurally, this indicates a positive bias; however, some events are on the horizon. If this support holds, our...

Manickamtraders Aug 23, 2024

Good morning, friends! 🌞 Here are the directions and levels for August 23. Market Overview In the previous session, the global market fell slightly, but structurally it indicates a bullish bias (based on the Dow Jones). Meanwhile, our local market is also maintaining a moderately bullish sentiment. So, today, the market may open with a neutral to slightly...

Manickamtraders Aug 23, 2024

Bank Nifty > In the previous session, Bank Nifty closed around the previous high. Structurally, it looks like a range-bound market, > so my expectation is that if the market pulls back initially, it could reach a minimum of 51,116 (supply zone). After that, if the market sustains or breaks this level, then the rally will likely continue to the level of 51,214 to...

Manickamtraders Aug 22, 2024

Bank Nifty Bank Nifty has a range-bound structure, so structurally, the probability is that the range will continue. that's, If the gap-up doesn't sustain, we can expect a correction of 38% to 78%. after that, If it finds support at the 78% level, it may bounce back. On the other hand, if it consolidates or breaks the 78% level, we can expect the next target to...

Manickamtraders Aug 22, 2024

Good morning, friends! 🌞 Here are the directions and levels for August 22nd. Market Overview The global market is still maintaining a bullish bias. Meanwhile, our local market shows a moderately bullish sentiment. So, today the market may open with a neutral to slightly gap-up start, as the SGX Nifty indicates a positive 45-point move as of 8:00 AM. Nifty and...

Manickamtraders Aug 21, 2024

Current View > That,The market may open with a slight gap-down start, according to the SGX Nifty indication. So, after that gap-down, if the market finds support around the immediate support level, it may consolidate between the previous day's high and the immediate support level. > But, Even if it consolidates, structurally, it will continue the rally once it...

Manickamtraders Aug 21, 2024

Good morning, friends! 🌞 Here are the directions and levels for August 21st. Market Overview In the previous session, the global market moved in a consolidation phase, but structurally, it is still maintaining a bullish bias. Meanwhile, our local market shows a moderately bullish sentiment. So, today the market may open with a neutral to slightly gap-down start,...

Manickamtraders Aug 20, 2024

Good morning, friends! 🌞 Here are the directions and levels for August 20th. Market Overview There haven't been any major changes in the global or local markets. Global markets have a bullish sentiment, while our local market shows a moderately bullish sentiment. So, today the market may open with a neutral to slightly gap-up start, as the SGX Nifty indicates a...

Manickamtraders Aug 20, 2024

In the previous session, Banknifty closed with consolidation, so the previous sentiment may continue today as well. However, I will explain it simply. First, let's look at an alternate variation. Alternate Variation: The previous pullback was strong, that indicating a bullish trend. So, if the market breaks the previous high solidly or after some consolidation,...

Manickamtraders Aug 19, 2024

Good morning, friends! 🌞 Here are the directions and levels for August 19th. Market Overview Global markets have a bullish sentiment, while our local market shows a moderately bullish sentiment. So, today the market may open with a gap-up start, as the SGX Nifty indicates a positive 80-point move as of 8:00 AM. Nifty and Bank Nifty share the same sentiment...

Manickamtraders Aug 19, 2024

if the initial market declines or faces rejection around the immediate resistance level (minor supply zone), it may take a retracement of 23% to 38%. After that, if it finds support, the bullish bias is likely to continue. However, if it breaks the 38% level, it may fall further to the 61% level on the downside. Alternatively, if the market sustains or breaks the...

Manickamtraders Aug 18, 2024

Good evening, friends! 🌺🍬 Here are the market directions for the 4th week of August: Global Market Overview In the previous week, global markets had a solid bullish bias. However, this week, a few important events like the FOMC minutes, the Fed Chair's speech, and Initial Jobless Claims are on the horizon. So, the market may move based on these data releases. As...

Manickamtraders Aug 18, 2024

Banknifty - Current View: If the market starts with a bullish bias in the upcoming session, then it may face rejection around the 50,969 to 51,151 level. If that happens, it may retrace a minimum of 23% to 38%. After that, if it finds support around the 38% level, the bullish sentiment will continue, and we can expect a rally once it breaks the previous high...

Manickamtraders Aug 16, 2024

Nifty has a range-bound market structure. There are two possible scenarios:* 1. *If the market finds support around at the 61% Fibonacci level, we can expect a bounce back that may once again reach today's high.* 2. *If the market consolidates around those support levels, (the 61% Fibonacci level), then the correction may continue further.* *In my personal...

Manickamtraders Aug 16, 2024

Bank Nifty has a range-bound market structure. There are two possible scenarios:* 1. *If the market finds support around at the 78% Fibonacci level, we can expect a bounce back that may once again reach today's high.* 2. *If the market consolidates around those support levels, (the 78% Fibonacci level), then the correction may continue further.* *In my...

Manickamtraders Aug 15, 2024

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