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
NIFTY: EDGE and WedgeThe inevitable happens, markets stunned. We have been saying and writing, the market the moves excess ahead of the events always correct viciously than one can digest. This time is no different. The diagonal or the Wedge appearing as end of Wave 5 is sure to displace many, not talk of wedge and edge in the political din. More so when the structure in the wave 5 of larger degree. Those who attended our sessions or seen our link will understand. 1. Forewarned is fore armed. 2. Money saved is money made. 3. This time is different. 4. Psychology of Wave 3 and Wave 5 is different, but participants behave as if they are still in wave 3. Sum and substance don't call it broken till it is broken is one of the rules. We did break yesterday. The one-day fall is larger than the COVID fall to start with. The Monthly candle covers the entire yearly rise and thus four-line engulfing pattern for sure. Short term frames have bounced off the lowest level that one could place in the graph and hence, that is relief for a day and not a direction. The break of 22500 seals the move and we are here to go south. How low one has to see; it can be low 20K is not ruled out. As long as we hold 22500 close bases. Cycles and strength drive the leaders and not other way round, be it financials or politics, the cycle of coalition is a test, and that would take time to unfold and endure, in the meantime, markets would take some bets off, and any rally would be sold. For the day, maybe you open with gap 100-150 sell them, add them if you see 22300 bigger positional guys stops 22530 for move back to 21500. We are still in the mood of larger moves and thus larger stops, take it as increments of 50 points. by sreebhashyam7
Broadening Top ChartThe trendline is diverging, which shows the volatility prevailing. Wait for the breakout at the support. This is a reversal pattern and keep your fingers crossed.Longby debjit620
Nifty spot weekly = Post election expected Price action As per Our Nifty Spot analysis Before election result Negative Surprise Target of 21280 was hit Yesterday Now as per current Price chart setup and Political Scenario I have analyzed . Please watch Video analysis With your Comments . Thanks00:57by Rohit_PSV1
Election Result Impact & Target Zone in Nifty Daily ChartNifty Spot Weekly & Daily Chart Trendlines with Election Event Directional Target Zone Positive Surprise & Exit poll Impact Target 1 Upside Zone = 23100-23300 Target 2 Upside Zone = 23800-24100 (Most Likely) Negative Surprise Downward Zone Target = 21900-21200Longby Rohit_PSVUpdated 3
Narendra Modi to win for 3rd timeIndian markets will fluctuate as there is National Election , but wait for Narendra Modi to win for 3rd time , after that invest in Companies that Modi likes.Longby MdSharif610
Nifty and BankNifty UpdateHello traders, Checkout the quick update on Nifty and BankNifty10:07by cryptoblast86-10
Nifty Spot Levels - Run Upto Election OutcomeNifty in past 7-10 trading sessions... trading in range 22200 to 22800 With Volatality (due to Geopolitical News and US Mkts and More Data from India and International Mkts). But as we are awaiting Election Results... Any DIP seems to be bought into with sentiments riding high on Current Government to Continue .... giving hope for all the major growth work to be carried out as an ongoing process without any hitch and taking Indian Economy to near $5 trillion. Markets are supreme... So have marked important Trading levels... Happy Trading,,, by emraldconsulUpdated 3