Manickamtraders

Manickamtraders

The global markets are still bullish, while our local market is showing a moderately bearish trend. Therefore, there is no clear direction for the short term. Today, the market may open with a slightly positive start. If this happens, we can expect that Friday's pullback may continue further. Let's explain it one by one. Current View: If the gap-up sustains, we...

Manickamtraders

Current View: If the gap-up sustains, we can expect the pullback to continue, with some consolidation around the resistance levels. the target range is 52514 to 52642. Alternate View: The alternate view indicates that if the market declines initially, or if it rejects around the immediate resistance, we can expect a correction of38% to50%. > It is important to...

Manickamtraders

Good morning, friends. Structurally, it’s a bear market, but there’s no support from global markets yet. However, if the decline forms a strong structure, we can expect the trend to continue. On the other hand, if it reaches a major support level with a gradual structure, we could see a 38% to 78% bounce back in the minor swing. Have a nice day!

Manickamtraders

Good morning, friends. Structurally, it’s a bear market, but there’s no support from global markets yet. However, if the decline forms a strong structure, we can expect the trend to continue. On the other hand, if it reaches a major support level with a gradual structure, we could see a 38% to 78% bounce back in the minor swing. Have a nice day!"

Manickamtraders

Bank Nifty Current View: Similar to Nifty, if Bank Nifty starts with a gap-down, it may consolidate between the previous high and the downside minor demand zone (51661). This is the basic structure. Alternate View: The alternate view suggests that if the market breaks this level solidly or consolidates around the minor demand zone (51661), then the correction...

Manickamtraders

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...

Manickamtraders

Good morning, friends! 🌞 Here are the market directions and levels for October 14th. Market Overview: There have been no significant changes in the global or local markets. The global market is showing a bullish sentiment, while our local market has a moderately bearish trend. We anticipate a neutral to slightly gap-up opening today, with SGX Nifty indicating a...

Manickamtraders

Bank Nifty: Bank Nifty is also in a range-bound market. However, the current view suggests that if the market opens with a gap-up or breaks the immediate resistance, we can expect a move towards 51,520. after that, If it rejects at that level, the range-bound market will likely continue. On the other hand, if it consolidates or breaks through, we can expect a...

Manickamtraders

Good morning, friends! 🌞 Here are the market directions and levels for October 11th. Market Overview: There have been no significant changes in the global or local markets. The global market is displaying a bullish sentiment, while our local market is showing a moderately bearish trend. A neutral to slightly gap-down opening is anticipated today, with SGX Nifty...

Manickamtraders

Bank Nifty Current View: The sentiment is similar to Nifty. If the market starts neutral or negative, it may consolidate between minor 38% and the upside level of 51,812. After this, if a breakout occurs, we can follow the direction, whether to the upside or downside. This is our first variation. Alternate View: The alternate view suggests that if the market...

Manickamtraders

Good morning, friends! 🌞 Here are the market directions and levels for October 10th. Market Overview: The global market is displaying bullish sentiment, while our local market shows a moderately bearish trend. A gap-up opening is anticipated today, with SGX Nifty indicating an increase of approximately +110 points as of 8 AM. In the last session, we saw a lot...

Manickamtraders

Bank Nifty Current View: Similar to Nifty, if the gap-up doesn't sustain or the market rejects near the immediate resistance level of 51,535, the correction may likely continue with a minimum downside of 78%. Again, confirmation is needed: after rejection, the market should break the lower trendline or the previous day's closing candle. This is our first...

Manickamtraders

"Good morning, friends! 🌞 Here are the market directions and levels for October 9th. Market Overview: The global market is still maintaining a moderately bullish sentiment, while our local market shows a moderately bearish trend. A neutral to gap-up opening is expected today, with SGX Nifty indicating a positive move of around +20 points as of 8 AM. Today, we...

Manickamtraders

Today, we have a major event: the RBI monetary policy announcement. This means the market is likely to move based on this data, which will be released around 10 AM. Therefore, technical analysis may not play a significant role today. However, structurally, both the Nifty and Bank Nifty remain in a bearish bias since they haven't broken the 38% Fibonacci level in...

Manickamtraders

Current View: The current view based on the RSI data is as follows: * The RSI divergence is likely to occur in the sub-wave 5. The structure suggests there is a 5th sub-wave forming. Once the market starts to bounce back, we can close the 5-wave structure in the 1st leg of the correction, leading into the 2nd leg. * The ideal 2nd leg is a three-wave structure,...

Manickamtraders

Good evening, friends! 🌞 Here are the market directions and levels for the 2nd week of October. Global Outlook: In the previous week, the global market closed where it started, indicating that the past two weeks have seen global markets in a range-bound market. Structurally, this is a moderately bullish trend, so we can expect the continuation of this range...

Manickamtraders

"Good morning, friends! 🌞 Here are the market directions and levels for October 4th. Market Overview: The global market is still maintaining a moderately bullish sentiment, while our local market indicates a bearish trend. A gap-down opening is expected today, with SGX Nifty showing a negative move of around -90 points at 8 AM. In the previous session, both...

Manickamtraders

Current View: The current view suggests that if the market finds support around the immediate support level, we can expect a bounce back of around 23% to 38% in the minor swing. This is our first scenario. For additional confirmation, you can refer to the 20 EMA Alternate View: The alternate view suggests a breakout trade. If the market breaks or consolidates...