Flying Index, Strolling Future!Nifty FUT does not seem keen to move up and that is a little worrisome. We are at striking distance to ATH but the timing is not to brilliant. Election results are still a couple of weeks away. We could move up a little and then retrace to consolidate near the 50% mark. This looks like a logical scenario. But informed institutions could take big positions and that could go against any narrative. Will trade only after watching for a while.
Niftyprediction
NIFTY INTRADAY LEVELS FOR 21 MAY 2024BUY ABOVE - 22500
SL - 22430
TARGETS - 22550,22600,22640
SELL BELOW - 22430
SL - 22500
TARGETS - 22350,22300,22230
NO TRADE ZONE - 22430 to 22500
Previous Day High - 22500
Previous Day Low - 22350
Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day.
Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move.
Please NOTE: this levels are for intraday trading only.
Disclaimer - All information on this page is for educational purposes only,
we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made.
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HAPPY TRADING 👍
Technical Analysis: NIFTY 50's Recent Shifts and Future ProspectHello, TradingView community! Today, we're diving into a detailed technical analysis of the NSE:NIFTY index, which has shown some interesting movements lately. We'll break down the technical signals, look at the potential implications, and discuss what to watch out for in the coming days.
🔍 Overview of Recent Trends
The NIFTY 50 has been following a well-defined upward trend channel over the past several months, making consistent gains each time it hit the upper boundary. However, recent patterns suggest a change in dynamics, which we need to scrutinize closely.
🔁 Current Technical Setup
Most notably, the NIFTY 50 recently deviated from its usual pattern by not reaching the upper boundary of the trend channel before reversing its direction towards the lower boundary. This could be an early sign of weakening bullish momentum.
📉 Significance of the Double Top Pattern
The formation of a potential Double top, a classic bearish reversal indicator, adds weight to concerns about a bearish shift. While this pattern is not yet confirmed—since we haven't seen a definitive breakdown below the neckline—it's a development that warrants attention.
📊 Intersection with the 100-day SMA
The recent drop of -1.5% in the NIFTY 50 brought it down to the lower boundary of the trend channel, which coincidentally aligns with the 100-day Simple Moving Average (SMA). This SMA has historically served as a strong support level, often triggering rebounds.
🔄 Potential Outcomes
Bounce Back: If the 100-day SMA and the lower boundary of the trend channel hold up, there's potential for the NIFTY 50 to rebound towards the mid or upper boundary of the channel.
Bearish Reversal: A decisive close below the 100-day SMA & Neckline of Double Top could indicate a more significant Bearish Trend or the start of a consolidation phase.
🌐 Broader Market Context
Quarterly Earnings: The index is feeling the pressure from non-impressive Q4 results for 2024. Lackluster corporate earnings can dampen investor sentiment and lead to a reevaluation of stock valuations.
Volatility Index Rise: The NSE:INDIAVIX , which measures market volatility, is on the rise. This indicates increased uncertainty among investors, as they price in a higher potential for market swings.
FII Activity: There has been significant selling by foreign institutional investors (FIIs), contributing to downward pressure on the index. FII flows are crucial as they represent substantial investment volumes and can influence market direction.
US Federal Reserve's Stance: The hawkish stance of the US Federal Reserve, signaling potential interest rate hikes, is also a critical factor. Higher US interest rates can lead to capital outflows from emerging markets like India as investors seek higher returns in US assets.
These points illustrate how external factors are intricately linked with the movements of the NIFTY 50 index and should be considered when analyzing its future direction.
📈 Trading Strategy Recommendations
For those actively monitoring the NIFTY 50, it's crucial to keep a close eye on the 100-day SMA and the lower trend line of uptrend channel. These areas serve as critical junctures that could determine the market's short-term direction.
"In the world of Market, it's not about how much you know, but how well you understand what you know and how you apply it in uncertain times."
To conclude, while the NIFTY 50 presents an intriguing technical setup, traders should proceed with caution given the current uncertainties and the index's recent behavior.
This analysis is intended to enhance understanding and encourage informed decision-making. Keep watching these indicators and adapt your strategies accordingly to navigate through these potentially choppy waters.
Lastly, thank you for your support, your likes, Follows & comments. Feel free to ask if you have any questions.
Trap!Looks like Nifty has walked straight into a spot marked with a big X like in the KGF2 movie. And is waiting to be shot down by bear cartel. This is the narrative that played out in my head.
Nifty could either consolidate OR fall from here.
On the contrary of Nifty Gaps up OR there is fresh buying in some heavy weights, good enough to make 22500 sellers run for cover, then we could see an unprecedented rally.
#NIFTY Intraday Support and Resistance Levels -17/05/2024Nifty will be gap up opening in today's session. After opening nifty sustain above 22420 level and then possible upside rally up to 22540 level in today's session. in case nifty trades below 22370 level then the downside target can go up to the 22250 level.
NIFTY INTRADAY LEVELS FOR 17 MAY 2024BUY ABOVE - 22420
SL - 22350
TARGETS - 22470,22510,22550
SELL BELOW - 22350
SL - 22300
TARGETS - 22300,22230,22160
NO TRADE ZONE - 22350 to 22420
Previous Day High - 22420
Previous Day Low - 22060
Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day.
Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move.
Please NOTE: this levels are for intraday trading only.
Disclaimer - All information on this page is for educational purposes only,
we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made.
Request your support and engagement by liking and commenting & follow to provide encouragement
HAPPY TRADING 👍
NIFTY BOUNCES from the ASTRA LineWe have been holding the LONG position (CE) from our entry on 14th morning.
The price saw a downward movement today exactly touching the Risological Astra line and taking a bounce back upwards.
Market has overall bullish sentiments especially considering the fact that the election results are nearing and this bullish momentum could be a hidden bullish divergence that we are going to see the next day after the election result.
BJP wins = Market Bullish
INDI Alliance wins = Market Crash
So, big moves are coming soon in the market. Hold your breath, homies!
Opening in the Bear's den. Nifty is all posed to open in the Bear's den. The higher probability is a few up ticks and then bears overporwer the bulls and sell aggressively. But if the bulls are aggressive enough and fresh buying comes in, there will be an epic short covering rally. Be prepared to trade. Could be a happening expiry.
NIFTY INTRADAY LEVELS FOR 16 MAY 2024BUY ABOVE - 22230
SL - 22190
TARGETS - 22270,22300,22350
SELL BELOW - 22190
SL - 22230
TARGETS - 22160,22120,22070
NO TRADE ZONE - 22190 to 22230
Previous Day High - 22300
Previous Day Low - 22160
Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day.
Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move.
Please NOTE: this levels are for intraday trading only.
Disclaimer - All information on this page is for educational purposes only,
we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made.
Request your support and engagement by liking and commenting & follow to provide encouragement
HAPPY TRADING 👍
NIFTY50 - here we go for short- whats next??NIFTY 50 - well guys market sustained upside and consolidate in between his resistance areas,
now we have 2 clues for short one in RSI and 2nd on chart technicals,
keep close and if market hold current price 22307 then a sharp decline expected from here,
keep close 22307 that will be your key level,
on ly selling invalidate above 22307 in 4 hours and day chart.
dont be lazy here.
good luck
trade wisely
NIFTY INTRADAY LEVELS FOR 15/05/2024BUY ABOVE - 22300
SL - 22220
TARGETS - 22350,22420,22470
SELL BELOW - 22180
SL - 22220
TARGETS - 22130,22070,22020
NO TRADE ZONE - 22180 to 22270
Previous Day High - 22270
Previous Day Low - 22070
Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day.
Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move.
Please NOTE: this levels are for intraday trading only.
Disclaimer - All information on this page is for educational purposes only,
we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made.
Request your support and engagement by liking and commenting & follow to provide encouragement
HAPPY TRADING 👍
Rise to be sold into!The higher the Gap up today, the mor confident I shall be to sell on the first tick. There is one stop NIFTY missed in this pilgrimage downhill: "21800". When she realizes it, she would turn around and rush to make that final downward journey before continuing up to where she belongs.
A gap down opening is when things will become tricky. In this case there might or might not be a retracement to gather longs before falling.
NIFTY Next Week Target Prediction (May 16, 2024)Nifty 15m has conquered the EMA 100 at the end of the hour today.
We were able tp capture both the PE and CE side momentum using Risological Indicators.
Hopefully next week, we will see Bullish days.
On a Daily timeframe, chart looks BEARISH. So, we might also see a BIG gapdown on Monday morning.
Trade safe. have a happy weekend!
BANK NIFTY INTRADAY LEVELS FOR 14 MAY 2024BUY ABOVE - 47900
SL - 47730
TARGETS - 48050,48220,48460
SELL BELOW - 47730
SL - 47900
TARGETS - 47560,47400,47200
NO TRADE ZONE - 47730 to 47900
Previous Day High - 47900
Previous Day Low - 47000
Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day.
Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move.
Please NOTE: this levels are for intraday trading only.
Disclaimer - All information on this page is for educational purposes only,
we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made.
Request your support and engagement by liking and commenting & follow to provide encouragement
HAPPY TRADING 👍
NIFTY INTRADAY LEVELS FOR 14 MAY 2024BUY ABOVE - 22130
SL - 22070
TARGETS - 22180,22240,22300
SELL BELOW - 22070
SL - 22130
TARGETS - 22020,21960,21900
NO TRADE ZONE - 22070 to 22130
Previous Day High - 22130
Previous Day Low - 21820
Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day.
Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move.
Please NOTE: this levels are for intraday trading only.
Disclaimer - All information on this page is for educational purposes only,
we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made.
Request your support and engagement by liking and commenting & follow to provide encouragement
HAPPY TRADING 👍
Nifty falling channel breakout Index bounced aggressively after making a temporary bottom at 21823 . 21823 stays an important level to watch out for, If index sustains below 22000 and starts sliding long traders should exit their position!
Falling channel breakout gives us the following targets -
Target 1 - 21350 zone
Target 2 - 21500/530 zone
Strict Sl once the index starts sliding below 22000 and starts sustaining below it!
Nifty ready to bounce back?Nifty has been moving very well within the channel range in the daily time frame. 22,000 is an important support level in this channel, and it's holding it very well for now. Today's close shows bulls are back in with a fight. I wouldn't enter into any short trade right now, if you are holding shorts, its a good time to exit
Nifty and BankNifty UpdateHello Traders,
Kindly checkout the latest update on Nifty and BankNifty. As we told in start of the month that Nifty have major support of 21780 and BankNifty have majot support of 47033. Today Nifty have almost tested the support and pumps up while BankNifty have fully tested the support and pumps up.
Bears... stay a little longer. Will be interesting to see where we open. A gap up will my ideal scenario where we could short with a tight SL from the word "GO...". A neutral opening, again if we plan to go short, the position size will have to be significantly smaller. In case of Gap down opening, I shall wait for a retracement to sell into. That's the plan.
NIFTY 780+ Points and RunningGUY!
Look what I ve been able to catch!
780+ points on NIFTY and still running.
Closed position partially. 25% still open position, Iam gonna let it run till the price crosses above the Risological Astra dotted line.
The Risological astra shows there is a little more room for a dip before a reversal.
Let's wait and watch.
Furthermore, the election results are round the corner, so expecting crazy moves soon.
I will update with fresh opportunities. Watch this space or follow my profile to catch moves.
NIFTY INTRADAY LEVELS FOR 13/05/2024BUY ABOVE - 22070
SL - 22020
TARGETS - 22120,22180,22240
SELL BELOW - 22020
SL - 22070
TARGETS - 21960,21900,21850
NO TRADE ZONE - 22020 to 22070
Previous Day High - 22120
Previous Day Low - 21960
Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day.
Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move.
Please NOTE: this levels are for intraday trading only.
Disclaimer - All information on this page is for educational purposes only,
we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made.
Request your support and engagement by liking and commenting & follow to provide encouragement
HAPPY TRADING 👍