Nifty Support 200 EMAhas taken support 21247 as 200 EMA RSI near 40 but weekly below 60 but monthly above 60 Let see there is hope by ManojTembulkarUpdated 6
NIFTY S/R for 7/6/24Support and Resistance Levels: In technical analysis, support and resistance levels are significant price levels where buying or selling interest tends to be strong. They are identified based on previous price levels where the price has shown a tendency to reverse or find support. Support levels are represented by the green line and green shade, indicating areas where buying interest may emerge to prevent further price decline. Resistance levels are represented by the red line and red shade, indicating areas where selling pressure may arise to prevent further price increases. Traders often consider these levels as potential buying or selling opportunities. Breakouts: Breakouts occur when the price convincingly moves above a resistance level (red shade) or below a support level (green shade). A bullish breakout above resistance suggests the potential for further price increases, while a bearish breakout below support suggests the potential for further price declines. Traders pay attention to these breakout signals as they may indicate the start of a new trend or significant price movement. Disclosure: I am not SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. It is important to consult with a qualified financial advisor before making any investment decisions. Tweets neither advice nor endorsement.by zenthosh0
NIFTY: The Action, Cut!Turning out to be a week of action, one can read it as weak, if you have not expected this much drama from the market. It all happens and happening in front of us. Camera, Action and Cut. When it comes to cut, it started with Swiss, added the Candy (Candian Cut), followed by a Danish and topped with Euro Cut. Season of cuts? extrapolation to US? Remember, in Currency markets it is relative real rates and growth that drives them; hence dollar remains range as part of the larger corrective pattern before the next leg higher. These cuts if any helped the precious metals to move higher or start their next leg higher. Our own policy rates later in the day though nothing is expected, markets would like to see the presser. Globally Canada data continues to deteriorate, while Euro on expected downhill, US having its own mixed data that does not suggest any rush to cuts. Recall BOC comments, easy monetary conditions, allow restrictive fiscal policy measures, watch for more such focus shifting from monetary to fiscal as part of the adjustment. From the TA Perspective, picked three parts of the larger move of the wedge, first one, move past the 0.786% (the rise and fall largely respected with this channel. Second too, hit 0.786 (plus near 1%). The current one is ferocious, the excess on the top, takes the excess on the bottom too. We have hit yesterday the 0.786% hence that is the cap for this move. While this holds (one can push little over the 23050 area), and expect a slow griding down, first towards the 22630 and then towards 22380-22230 area. Reasonable Risk Reward for the shorts here with the above stops and expectation. In-tra week harami pattern, and the PIP graph which is weekly is bearish meeting candle (even if we close near 23000), coming after dark cloud pattern. (ignoring the large wick of the meeting candle) Supports 22765-22720-22680 Supply 22880-22930-22980by sreebhashyam0
6% drop in Nifty is a buying opportunity Few followers panicked when the Nifty had a sudden drop of 6-8% within the day and caused panic and some of the late buyers were caught off guard or get margin calls............ I had said before, when you buy an index , it is a basket of blue chips companies in the respective country represented by different sectors. So , you got margin of safety in terms of sectoral diversification. Unless the entire market crash , then from a weekly, daily chart perspective, it is still riding on a bullish trend. You can see how quickly it falls through the channel and yesterday, it has recovered more than 60-70% of the previous fall. So, I don't understand, what is the panic all about ? As a trend follower, there is nothing to do except ride the trend until it changes.......by dchua19690
NIFTY Long IdeaNIFTY long idea: My Indicator is flashing buy on NIFTY. After a huge selling due to election results in india, NIFTY seem to recovering. Looks ready for more up side from here Entry, SL and TP Levels are marked on chartLongby sdevang0
Nifty: Trading Plan and Levels for June 7, 2024 Following a successful prediction of price movements for Thursday's trading session, we observed prices trading within the expected range. Building on this, we now outline the trading plan for Friday, June 7, 2024, focusing on key levels and zones. Key Levels and Zones: Important Resistance for New High: 22,982 - 23,247 No Trade Zone: 22,853 - 22,777 Initial Buyers Support: 22,625 - 22,580 Additional Support: 22,458 Trading Plan Based on Opening Scenarios: 1. Gap Up Opening : If the market opens around 22,949: Action: Observe price action near the Important Resistance for a new high zone (22,982 - 23,247). Watch for signs of rejection or consolidation. If the price fails to break above 22,982: Consider short positions targeting the No Trade Zone (22,853 - 22,777). Place a stop-loss above 22,982. If the price breaks and sustains above 22,982: Hold long positions targeting the higher resistance level at 23,247. 2. Flat Opening: If the market opens around the current price of 22,849: Action: Avoid immediate trading as this is within the No Trade Zone (22,853 - 22,777). If the price breaks above 22,853: Look for long opportunities targeting the Important Resistance for a new high zone (22,982 - 23,247). Place a stop-loss below 22,853. If the price breaks below 22,777: Consider short positions targeting the Initial Buyers Support (22,625 - 22,580). Place a stop-loss above 22,777. 3. Gap Down Opening : If the market opens around 22,749: Action: Look for buying opportunities near the Initial Buyers Support zone (22,625 - 22,580). If the price holds above 22,625: Consider long positions targeting the lower boundary of the No Trade Zone (22,777) and then 22,853. Place a stop-loss below 22,625. If the price breaks below 22,580: Wait for the price to reach the additional support level at 22,458. Look for buying opportunities with a tight stop-loss below 22,458. Additional Notes: Risk Management: Always employ stop-loss orders to manage risk. Adjust position size according to your risk tolerance. Market Conditions: Stay informed about any news or events that may influence market volatility. Confirmation: Await price action confirmation before entering trades, especially at key levels and zones. Conclusion By following this structured trading plan, you can navigate the Nifty 50 market effectively, considering different potential opening scenarios on June 7, 2024. Adhering to risk management principles and staying updated on market conditions will enhance your trading decisions. Disclaimer This trading plan is for educational purposes only and does not constitute financial advice. Trading in financial markets involves significant risk and may not be suitable for all investors. Always conduct your own research and consult with a financial advisor before making trading decisions.Shortby LiveTradingBox4
Nifty50 Tomorrow market will be in downside. Important support 22700. Looking at gift nifty gap down is confirmed. India vix 16. by saynazeer5
NIFTY GO LONG NOWGREED AND FEAR GO HAND IN HAND. Very risky time to trade but setup itself is not risky, just more probable.Longby Shiiza1
Nifty Analysis for 07th JuneNifty Index Analysis for 7th June based on Elliot Wave Analysis12:36by EquityandSecurity1
NIFTY DAILY - 6/6/2024Index opens with gap up and made days high which is 22910 level but market was highly volatile so nifty made day’s low which is 22642 level. Nifty was up by almost 270 points which is Approx 1%, nifty gave closing around 22821 level with 200 points plus. Nifty has formed small bullish candle with upper and lower shadow on daily chart. Candle is trading above Middle Band of Bollinger Band. Nifty has broken the resistance of 22794 so, further 22059 will work as resistance level with support of 22635 level. Bank Nifty levels Support – 48568 Resistance – 49334 Today’s Advance Decline ratio of NIFTY50 Advance - 38 Decline - 12 FII Sell – 6867.72 crores DII Buy + 3718.38 crores. ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂by radha_233
NIFTY : Trading Plan and Levels for 06-Jun-2024 Key Levels: Immediate Resistance/Profit Booking Zone: 22,875 22,814 22,716 Immediate Support/Buyer's Zone: 22,423 22,381.65 22,329 22,293 Projected Moves: Bullish Scenario: If the price breaks above 22,716 and sustains, it is likely to move towards the resistance/profit booking zone between 22,814 and 22,875. Strong bullish momentum above 22,875 could indicate further upside potential. Bearish Scenario: If the price fails to sustain above 22,716 and shows rejection, it might fall back towards the support levels starting at 22,423. A break below 22,423 could see the index moving down towards 22,329 and potentially lower. Trading Plan: Opening Trade: Monitor the price action around the opening levels. Long Position: Enter a long position if the price shows bullish strength above 22,716 with a target of 22,814 to 22,875. Place a stop-loss below 22,716. Short Position: Enter a short position if the price shows bearish rejection at 22,716 with a target of 22,423. Place a stop-loss above 22,716. Breakout Trade: If the price breaks above 22,814 and sustains, consider entering a long position targeting 22,875. If the price breaks below 22,423, enter a short position targeting 22,329, with an extended target of 22,293. Intraday Adjustments: Adjust stop-loss levels to breakeven once the first target is reached to protect profits. Use trailing stop-losses to capture extended moves beyond key levels. Scenarios to Avoid: Avoid trading in a no-trade zone around 22,716 if there is low volume or indecisive price action. Be cautious of false breakouts, especially around key levels, and wait for confirmation before entering trades. Risk Management: Use proper risk management strategies, such as risking only a small percentage of your trading capital on each trade. Adjust position sizes based on the volatility and risk associated with each trade. Disclaimer: The information provided here is for educational purposes only and does not constitute financial advice. Trading in financial markets involves risk, and you should only trade with money you can afford to lose. Always conduct your own analysis and consult with a financial advisor before making any trading decisions. The author is not responsible for any losses incurred due to trading based on the information provided.by LiveTradingBoxUpdated 5
Doji candle formed in Nifty today. Does it indicate upside?Today we saw a formation of Doji candle in Nifty. Doji candles indicates uncertainty. Colour of the Doji candle shows the bias which is green as of now. So the bias still remains positive with formation of stable government on cards. However on any new or noise from coalition allies the Bears can make a strong comeback. Doji today indicates that Bears are also equally active and are waiting for their chance of action. So be aware / be conservative in your choice of stocks. In terms of Cricket if we consider this a T-20 match this pitch is not a 200+ pitch. It is rather a green top where if a team scores 150-170 runs they can be difficult to chase. So what should investors do? They should keep stop losses. Stop losses are the best friends. Keep stop losses and trailing stop losses. Stop losses protect your capital. Trailing stop losses protect your profits. Nifty Resistance Levels: 22910, 23053, 23192, 23338. Nifty Support Levels: 22630, 22456, 22139, 21781 and 21277. Below 21277 is a bear territory and absolute hunting ground of bears. Longby Happy_Candles_Investment2
Nifty Probable Trade idea1.If you think market will fall from tomorrow, without a pullback chances are rare. 2. This week or the next it will be in today's range most likely 3. If bull run is over, it will take to give confirmation in form to distribution and dump the big money at the top 4. Or if trend to continue then we have levels to reverse from the marked levelsLongby The_SharkTraderUpdated 0
Niftyview 6th June 2024 Nifty Regains Levels After Election Results Drop, Faces Resistance at 23,100 The Nifty index has managed to recover after experiencing a significant drop following the recent election results. Despite the initial turmoil, the market has stabilized, showing resilience in the face of volatility. As of today’s expiry, 23,100 is seen as a key resistance level. Traders and investors are closely monitoring this threshold to gauge the market’s potential for further upward movement. Breaking through this resistance could signal a stronger recovery and possibly set the stage for continued gains. On the downside, 21,770 is identified as a solid support level. This benchmark provides a safety net, indicating that the market has a cushion against further declines. Investors consider this level crucial for maintaining market stability. In conclusion, while the Nifty has shown impressive recovery post-election results, its performance today hinges on its ability to navigate the resistance at 23,100 and maintain support at 21,770. Traders should keep an eye on these levels for a better understanding of the market's direction in the short term.Shortby MSR_trader0
NIFTY S/R for 6/6/24Support and Resistance Levels: In technical analysis, support and resistance levels are significant price levels where buying or selling interest tends to be strong. They are identified based on previous price levels where the price has shown a tendency to reverse or find support. Support levels are represented by the green line and green shade, indicating areas where buying interest may emerge to prevent further price decline. Resistance levels are represented by the red line and red shade, indicating areas where selling pressure may arise to prevent further price increases. Traders often consider these levels as potential buying or selling opportunities. Breakouts: Breakouts occur when the price convincingly moves above a resistance level (red shade) or below a support level (green shade). A bullish breakout above resistance suggests the potential for further price increases, while a bearish breakout below support suggests the potential for further price declines. Traders pay attention to these breakout signals as they may indicate the start of a new trend or significant price movement. Disclosure: I am not SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. It is important to consult with a qualified financial advisor before making any investment decisions. Tweets neither advice nor endorsement.by zenthosh2
NIFTY: NDA in INDIA!It is all in numbers, if you don't believe, you get Numb. From nothing has changed view to ROME is not built in a day, from there, all is lost in a day, who moved my cheese, these were the news or experience one is sharing depending on which time frame, what commitment, what understanding, what faith one holds. Leverage either financial or psychological pulls you down, in politics the psychological leverage always extends to your financial leverage. It is important to ensure that both don't seap one into another, in terms of decision making. This can blur your thoughts and actions. The NDA stands now for Non-Disclosure Agreement, as no one is sure what is the compromise promises, that is being made. It is not to say this is bad or good. This in reference to the bends and trends from the path that is pencilled in before with the 350 Plus number. As simple as this. In the longer run, the direction of the market no one can mute or mutate. While in politics, when goes and sees how these combinations work, it is also important these combinations work there. The channel is here for us as example. 1. The start of the channel, the rise fell below the top, then the fall below the midline, then the rise, the second time rise fell below the previous rise and the break below mid channel took to the lower end of the channel. Fairly normal corrective ascent. 2. Now we broke the mid line (relatively fierce), then yesterday rise, may be today rise too. the next fall can take below the mid line. Mark the channel keeps rising, which means the previous lows may not come. 3. The trouble is only if we move out of this channel, till then the channel is the path to pursue. 22500 break breaks some hope 22800 huge supply zone. It is not that all is over and we are back to where we are. It will take lot of time for market to re-assert. If 21500 is excess on the downside. 22500-22800 is the excess on the upside for the time being. Daily close 22300 bears need, Daily close above 22800 bulls need. by sreebhashyam9
Very Powerful Comeback Candle sort of Bullish Harami.Nifty made a massive comeback today after the dust of election result settled. Whether NDA's comeback to power and can the Bull Run sustain is the key question. Both are interlinked as of now it seems. However on the technical grounds the formation on chart between yesterday and today's candle is a sort of Bullish Harami (Positive Candle formation). A positive candle formation in the next trading session will confirm the formation. Now the supports for Nifty are at 21261 (Father Line) and 200 EMA, 22139 (Mid channel support), 22413 (Mother Line) and 50 EMA and 22456. Resistances on the upper side for Nifty will be 22695, 22855, 23053, 23192 and finally 23338 (ATH Resistance). Longby Happy_Candles_Investment2
Nifty50 Tommrow expiry will be sideways. We can see move in second half. Try to avoid during expiry day. Premium are very high. by saynazeer1
NIFTY – Trading Levels and Plan for June 5, 2024Market Overview: The NIFTY index experienced a significant decline during Tuesday's trading session following the general election results, raising concerns about the stability of the newly forming government. This drop led to the breach of all key support levels on the daily charts, with the index now trading just above a crucial support level. Trading Levels for June 5, 2024: Resistance Levels: 22324 - 22424 Immediate Support: 21776 Secondary Support Range: 21486 - 21410 Critical Support: 20971 Trading Plan: Resistance Strategy: If the NIFTY rises towards the 22324 - 22424 resistance range, expect potential rejection, which could lead to a sharp decline. Consider short positions at these resistance levels. Support Strategy: If the index drops to 21776 or opens flat to slightly higher, this level might act as initial support. A break below 21776 or a gap-down opening will likely drive the index towards the secondary support range of 21486 - 21410. This area represents the last significant support for buyers before a potential sharp fall towards 20971. Conclusion: Traders should focus on short entries at higher resistance levels or upon the breach of key support levels. Vigilance is required to adjust positions based on market movements. Disclaimer: This trading plan is based on current market analysis and is subject to change. Traders should conduct their own research and consider their risk tolerance before making any trades. by LiveTradingBoxUpdated 1
NIFTY DAILY - 5/6/2024Nifty opens gap up and bulls were struggle to survive into the markets and made days low 21791 level. Afterwards bulls came back into action and made days high which is 22670 with 735 points up which is almost 3.36% up. Nifty has formed a big bullish candle on daily chart with long lower shadow which indicates participants were buying from day’s low. Candle is trading below 19 Days Moving Average Line. Further levels for nifty can be 22794 level which is resistance and support will be 22400 level. Bank Nifty levels Support – 48568 Resistance – 49334 Today’s Advance Decline ratio of NIFTY50 Advance - 48 Decline - 2 FII Sell – 5656.26 crores DII Buy + 4555.08 crores. ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂by radha_231
$NIFTYgot the gap up day before but did not expect such a deep retrace to the 200 ema on the plus side its done and dusted casue going back below that means a whole lot of more pain for now looking for a move up then back down to test the blue line before we make a run for new ath hats off to those who caught the move both ways remember HTF trend is up and this tag of the 200 was after 8 monthsLongby CompoundingGain0
NIFTY50..... The bulls have left the floor!Hello Traders, (At the time, the analysis was prepared, trading was still ongoing!) Yesterday NIFTY50 crashed! I have tried to count the index, but I don't have any possible idea! The moves from 21137 were corrective, cause show overlapping waves, and no clear impulsive character! I was arguing something is just around the corner, and this could be a not so good behavior for N50! So, my favorite idea for N50 now is that @ the ATH 23338.70 an EDT was completed and, the index will change direction of trend for the coming 2–3 months! This idea is valid as long as N50 trades below 23338.70 and falls below yesterday's low @ 21821.45! The internal structure of the moves since Friday shows a possible wave 1 with impulsive character, and a wave 4 is in progress that probably ended this morning. In sum, this would mean a drop to new lows below 21821.45 tomorrow! From a technical point of view, we have seen an "evening star" that was completed yesterday with an opening below the top candle that creates the new ATH, and much more important and criteria for this pattern, it opened with a gap to the downside! A top formation has been established, and the way forward is clear! The bulls have left the bottom! Expect new lows for N50 in the coming days and protect your account! Have a great week ..... Ruebennase Please ask or comment as needed. Trading based on this analysis is at your own risk. by ruebennase4