Manickamtraders

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...

Manickamtraders

Current View: If the market opens with a gap-down, both Nifty and Bank Nifty are expected to continue in a bearish structure, with some minor consolidation. Even if there’s a pullback, this type of correction typically won’t break the 38% Fibonacci level in the minor swing. This is our first scenario. Alternate View: If the market initially rejects around the...

Manickamtraders

Current View: If the market opens with a gap-down, both Nifty and Bank Nifty are expected to continue in a bearish structure, with some minor consolidation. Even if there’s a pullback, this type of correction typically won’t break the 38% Fibonacci level in the minor swing. This is our first scenario. Alternate View: If the market initially rejects around the...

Manickamtraders

Good morning, friends! 🌞 Here are the market directions and levels for October 1st. Market Overview: The global market is maintaining a moderately bullish sentiment, but our local market is leaning bearish. Today, the market may open neutral to slightly gap-down, with SGX Nifty indicating a negative 5-point move at 8 AM. On the previous day, both Nifty and Bank...

Manickamtraders

ank Nifty Current View: The current view is similar to the Nifty sentiment; if the market opens with a gap-up or takes support around the immediate support level, it could retrace a maximum of 23% to 38%. Structurally, it won't sustain there, so it may undergo some consolidation between the current low and the 38% Fibonacci level in the minor swing. . Afterward,...

Manickamtraders

Good morning, friends! 🌞 Here are the market directions and levels for September 30th. Market Overview: The global market has a moderately bullish sentiment, and our local market reflects the same moderately bullish sentiment. Today, the market may open with a gap-down due to the SGX Nifty indicating a negative 80 points. In the previous session, both Nifty and...

Manickamtraders

Bank Nifty Current View: Bank Nifty reflects the same sentiment as Nifty. If the market finds support around the immediate support level (23%), we can expect a minimum bounce back of 38% to 61%. It looks like a range-bound market. If this occurs, the next movements will be determined by whether it breaks the previous high or the downside Fibonacci level of 23%....

Manickamtraders

Good evening, friends! 🌞 Here are the market directions and levels for the first week of October. Global Outlook: In the previous week, the global market closed near where it started, indicating that the market moved in a consolidation phase. What about this week? There are many major events, such as US Federal Reserve Chair Jerome Powell's speech, the monthly...

Manickamtraders

Bank Nifty Current View: Bank Nifty reflects a similar sentiment to Nifty. If the market starts with a red candle, we can expect a 23% to 38% correction in the minor swing. Structurally, it shouldn't break the 38% Fibonacci level. If it does break this level, we could expect the next target to be a 50% correction on the downside. > in this variation, if it...

Manickamtraders

Good morning, friends! 🌞 Here are the market directions and levels for September 27th. Market Overview: There have been no significant changes in the global and local markets; both maintain a bullish bias. Today, the market is expected to open neutral to slightly negative, with SGX Nifty indicating a negative of around -20 points as of 8 AM. In the previous...

Manickamtraders

Bank Nifty Current View: Bank Nifty is also following the Nifty sentiment. If the market opens with a gap-up or if the initial market sees a solid pullback, it could reach 54,655. However, some rejection could also occur. This is our first scenario. Alternate View: If the initial market breaks or consolidates around the 50% Fibonacci level, we can expect a...

Manickamtraders

Good morning, friends! 🌞 Here are the market directions and levels for September 26th. Market Overview: There have been no significant changes in the global and local markets; both maintain a bullish bias. Today, the market is expected to open neutral to slightly positive, with SGX Nifty indicating a rise of around +60 points as of 8 AM. In the previous...

Manickamtraders

Bank Nifty Current View: Bank Nifty mirrors Nifty's sentiment. If the first move consolidates around the supply zone (MSZ), it could reach a maximum of 54,498. Conversely If it breaks the supply zone with strength, the rally may continue with some consolidation around 54,655. This is our first scenario. Alternate View: The alternate view for Bank Nifty suggests...

Manickamtraders

Good morning, friends! 🌞 Here are the market directions and levels for September 25th. Market Overview: There have been no significant changes in the global and local markets; both have maintained a bullish bias. Today, the market is expected to open neutrally to slightly negatively, with SGX Nifty suggesting a negative move of around -20 points as of 8...