TheNoobDayTrader

TheNoobDayTrader

16700 would be crucial level for Nifty. It is the level from where Nifty made almost 2000 points upside rally and again 2000 points downside rally to retest it. If Nifty sustain above 16700 then we can expect an upside move from here. This is a general Analysis based on levels and my personal understandings. Please do your own research and analysis before taking...

TheNoobDayTrader

If you see my previous post about Nifty touching 17600, you will see I have said that if Nifty gives breakout above 17460 to 17480 then it will move to 17600 and we can expect a reversal from there. But Nifty moved 200 points more higher and made a new lifetime high of round about 17800. After hitting 17800 a reversal started and Nifty fell 200 points from top...

TheNoobDayTrader

After breaking 15900 level Nifty has been making new lifetime high almost every week or day. To be honest I haven't expected Nifty to rally 1400 points within a month. What now? After a fantastic 1400 point rally we can expect a retracment or correction. But there is a possibility of Nifty touching 176000 if Nifty gives breakout above 17460-17480. This...

TheNoobDayTrader Updated 

On 16th August after breaking it's previous resistance of 16542 Nifty did a sideways rally up to 50 points and made a new lifetime high of 16590. It was very volatile day without any direction. During 16th August sideways market Nifty made a double top in the chart. For now Nifty has no room to go up from here. Also BankNifty is showing weak signal. Resistance...

TheNoobDayTrader

On 13th August after opening flat Nifty did a upside rally with positive sentiment and made a new all time high of 16542. Nifty has been taking support from it's trend line and in that process trend line is becoming weak with multiple retest. Depending on Friday closing Global market sentiment is mixed to negative. On 16th August if Nifty open below 16500 then...

TheNoobDayTrader Updated 

On 12th August Nifty opened gap up and came for selling. After that Nifty took support from 16300 level and from there it started slowly moving up by taking support from 20 MA in 5 minute chart. There was selling pressure from top but still nifty was able to push 15 points higher from it's previous high. Nifty closed above 16360, technically this should be...

TheNoobDayTrader

From 4th August to 11th August, 6 trading days Nifty has been trading in a zone of approx 16200 to 16300. Nifty made new high/low on Intraday basis but if you pay attention then you will see that, in the last 6 trading days Nifty closed between 16200 to 16300. And during this 6 days Nifty made new High/low and new support/resistance for itself. Last 2 days Nifty...

TheNoobDayTrader

In my earlier post I have warned you guys about volatility and unexpected sudden movement in Nifty. Which we are seeing after nifty breaking 15600. It could be due to big players suffered loss and trying to recover that. As a retail trader your duty is to not get trapped in any side, bull or bear. If you see the 30th July chart of Nifty, you can clearly see how...

TheNoobDayTrader

On 28th July Nifty breached 15600 and day low was near 15512. As per our analysis we reached our goal but what happened after that was not expected. Nifty was down almost 250 points from day high and from day low it recovered 200 points, which many may not have expected including me. Obviously it was short covering of 15600, 15500 put writers and profit booking of...

TheNoobDayTrader

Before we begin let's take a look at what happened on 26th July 2021. Until now Nifty was following US markets and Nifty opening was mostly influenced by US market. So it was expected that Nifty will open gap up or in positive on 26th July but Nifty opened in red. Around 10.35 Nifty made it's day high 15892 and from there slowly started falling. Nifty closed...

TheNoobDayTrader

The story of Nifty touching 16000 is going on from June 15 and till now Nifty touched 15900 or crossed 15900 almost 6 times. Every time Nifty goes up, it comes down facing heavy resistance at top. Similarly Nifty wasn't able to break it's support zone too near 15600, every time it goes down, buyer push it up. Because of that Nifty has been trading in a range of...

TheNoobDayTrader

On 20th July Nifty touched 15580 and with positive European market opening it reversed from the day low to almost 100 points and later fall back. Another reason of that 100 point rally could be short covering of 15600 put writers. It looks like there is both bull and bear trap. Big money is playing with both sides. Global markets are testing their resistance and...

TheNoobDayTrader

Bull trap is confirmed and retail investor has been trapped. I have been saying about this from a long time, which finally happened. Always remember when something is getting hyped "BE CAUTIOUS". For example: "Nifty will touch 16000, Nifty will cross 16000" bla bla. IMPORTANT: When market open gap up or gap down avoid the first 15 minute. Because overnight...

TheNoobDayTrader

I think as of now all of you know that on 19th July 2021 Nifty going to open gap down, and again bull trap will be confirmed by tomorrow's market. Levels to watch 15920, 15845, 15800, 15751, 15725 and finally 15700. Every time a level breaks sell will come and Nifty will take support near these levels. These levels are important. Take decision wisely and do...

TheNoobDayTrader

On 13th July Nifty analysis I said that major indices touched their life time high and since Nifty was totally following global market sentiment, so on 15th July 2021 it was somehow expected that Nifty will touch it's lifetime high again. But this time Nifty made a new lifetime high with 30 points above it's previous lifetime high. European market is already in...

TheNoobDayTrader

On 14th July Nifty has given breakout above 15800 and closed near it's major resistance of 15835 to 15845. The move in Nifty is similar to what happened in European market. If you have read my previous analysis, where I've said that major global indices touched their lifetime high. So as a result of that we may see similar move in Nifty and another possible bull...

TheNoobDayTrader

On 12th July after break down of 15751 level in 5 minute chart Nifty broke 15700 but it has taken support from it's support zone of 15648 and previously Nifty has taken support from this level too. So now Nifty have to break it's 15648 level for further correction. On 13th July Nifty may test it's 15751 level (upto 15800). Global market effects making Nifty to...

TheNoobDayTrader

Nifty got no chance to move upward on 8th July, except the first 15 minute candle and from there people started selling. And with today's fall it is confirmed now that breakout above 15845 was fake and was bull trap. So what triggered Nifty to fall almost 200 points from day high? Let's try to look at the events to understand the fall better. i) Nifty wasn't...