Nifty Trade Setup (13-June-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal.
Head & Shoulder pattern on higher time frame of Nifty. If nifty respects this pattern then we can expect good move downward.
On Upside Resistance is at : 18660,18777.
On Downside support is at : 18550,18500, (If market respects pattern then 18400 last support.
From last week all indices are range bound and not good for directional trades setups.
For Trade Setup today:
1.) Will buy if break and sustain above 18660 for target of 18720, 18750.
2.) If price breaks down and sustains below 18550 ( Neckline of Head & Shoulders pattern ) then will short for target of 18502, 18460.
No trades if gaps and if there is no clear movement or there are overlapping candles.
Niftytradesetup
Nifty Trade Setup (12-06-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal.
Trade setup for tomorrow:
1.) If opens flat and takes support at trendline then will buy for target of PDH. If it breaks trend line and 1st support then will short for target of next supports ( 18470, 18450)
2.) If gap up or down then will trade only after clear setup. look for support or PDH/PDL as resistance and once good setup is formed i will trade.
Go long Go Blue. It might be a gap up/down morning tomorrow, but all we traders need to think is should we ignore the reversal pattern that erases bearish momentum at each interval since past 3 months, yeah because this will be the choice in front of you to decide whether we support the narrow lane of downside or enjoy the swift train which has stations above 19000 levels.
Nifty Weekly Analysis for Jun 12 - 16🔍 Analysis on Nifty for the Upcoming Week 🔮
Jun 12 - 16
The Nifty index seems to exhibit a bullish trend in both long-term & short-term as well, according to the market structure.
📈 Key Levels to Monitor:
In the upcoming week, it's important to monitor key levels 18250, 18530, 18535, 18660, 18775, & 18885.
🔎My outlook:
The outlook for the upcoming week’s trading suggests a non-directional market, potentially characterized by a sideways pattern.
📈 Bullish Scenario:
If Nifty breaks out above the significant level of 18780, supported by a strong and clear daily candle, it could indicate a bullish market trend.
📉 Bearish Scenario:
However, if Nifty breaks down below 18530, confirmed by a strong and clear daily candle, it may signal a decline towards the 18250 level.
📊 Support Level:
As long as Nifty sustains above the support level of 18530, the market can be viewed as bullish.
Nifty Trade Setup (7-June-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal.
Nifty moving in triangle pattern from Daily Time Frame and from past 3 days price action was range bound and consolidating between 150 points from past 3 days.
For tomorrow setup:
1.) If opens flat will buy only after break and retest of this triangle pattern. For target of near by Resistance 18700, 18720.
2.) If open gap up or down then will wait for price action and good setup to form as its range bound from past 3 days.
will not trade if there is no good setup as it is from past 3 days.
Support is placed at 18590,18560 and 18500
Resistance is place at 18665, 18640.
NIFTY ABOUT TO RETRACE 700 points.
Price has reacted to a Monthly Supply in the left side, after reacting to the Monthly Supply Price has confirmed downward potential in the Daily chart forming a Supply and there is a Fresh Monthly Demand formed and Price has to retrace into this Fresh Demand hence downmove of 700 plus points.
ENJOJY THE RIDE ! ! !
Nifty Trade Setup (05-June2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal.
For tomorrow's Setup:
1.) If opens flat in descending triangle and breaks the triangle on upside then will buy for target of Resistance levels 1st at 18574, then 18616.
2.) If opens flat in descending triangle and breaks the triangle on downside and also breaks trendline support then will short for target of Support level of 18419.
3.) If there are any gaps up or down then will look for Resistance or Support and will trade accordingly or only after formation of price action.
NIFTY--Turned to be Bullish Again??Observations::
Price is exactly closed near the Previous Strong Resistance,
If this acts as support will observe bullishness towards 18600,18700 levels.
If price breaks 18700 levels, it may touch ATH as well...will see this later, it will touch or not.
Until Keep watch these levels.
We have a demand zone @18200,which is a strong demand may acts as support again.
Nifty Trade Setup (02-June-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal.
Trade Setup for today :
1.) If opens flat and take support at current level i will buy for the target of Resistance Zone marked in chart. If doesn't hold yesterday support then will look for short for target of next support zone.
2.) if gap up will wait for price action form to see if any good setups are forming like yesterday.
3.) If gap down same as point 2.
Hit like if you feels so :)
NIFTY TRADE SETUP 02 JUNE FRIDAYBuy Above 18530 (WITH SMALL QUANTITY)
For Large Move Buy Above 18580 (WITH FULL QUANTITY)
For Large Move Sell Below 18460 (WITH FULL QUANTITY)
RESISTANCES AT UPPER LEVEL
R1 : 18625
R2 : 18677
R3 : 18733
SUPPORTS AT DOWN LEVEL
S1 : 18455
S2 : 18399
S3 : 18355
S4 : 18320
NIFTY--18700 or 18500 Observations::
---->> Price is trading in range after opening gap up.
consolidation + Bullish = Sell @ Resistance.(18700 Resistance)
Consolidation + Bearish = Buy @ Support (Gap may acts as Support.)
If price showing bullish pressure towards 18700, wait here for reversal may happens, previous strong fall area.
if price comes back to 18450-18500 levels, look for buy.
if price breaks 18575 zone retest sell for target of 18500 zone. After break retest in needed to sell.
Previous strong resistance may turned to be support @18450 range.
Nifty Expiry Day Trade Setup (01-June-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal.
Today with gap down nifty fall further for 90 points and gave nice setups. I traded Bank Nifty as at time of trade Bank nifty provided better setup. For last two days with gap up opening nifty was rangebound and today it falls as posted in yesterday that if gap down there might be gap filling which it did today and took support exactly near gap.
Today nifty gave range of 90 points from resistance to support. For tomorrow expiry day setup:
1.) If opens flat will look for price to take support near Today's low 18480 if it takes support will buy for target of todays high or resistance of 18580. If breaks below 18480 then will short for target of 18425, then next support 18380.
2.) If opens gap up then wait for price action to form.
3.) If opens gap down then will also wait for price action to form. will look for nearby support or resistance level.
As tomorrow's expiry day premiums will erode also might me range bound in today's 90 points if it's range bound then will try to trade within range if good setup is formed.
Hit like to keep me motivated for keeping my trading journal as it only take less then few seconds to hit like but it gives me motivation for preparing for my session. Also one can comment on how I can make this trade journal better any improvements I need in it :) .
Nifty Trade Setup (31-May-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal.
So today also with range bound action all day nifty gained 40 points in last 1 hour. so what to expect tomorrow also monthly close volume is rising and only 250 points from Nifty's ATH. BNF already broked ATH and doing good in sustaining it.
Trade Setup for tomorrow:
1. If opens flat will wait for rising triangle to break up or down and will long or short according break side respectively.
2. If opens gap up above Triangle pattern will wait price to take support on that resistance or not if it takes support then will look for buy for target for Rising wedge trendline.
if it doesn't hold near resistance then will short for target of rising trendline support.
3.) If opens gap down will look for price to take support near last 2 days lows ( PDL) if it takes supports there then will look for long for target of todays high. if doesn't takes support near PDL then will look for short for target of gap filing which is at 18510.
also nifty is trying to consolidate like BNF To reach new highs and its good as it makes base for good support. Views are bullish on nifty to make new highs soon.
Hit like to keep me motivated for keeping my trading journal as it only take less then few seconds to hit like but it gives me motivation for preparing for my session. Also one can comment on how I can make this trade journal better any improvements I need in it :) .