18620-18675 is crucial 18620 - 18675 is the demand zone of nifty and till the index trading above this zone its go long on dips but once we sustain below this range on hourly chart then its a sell on rise.
Niftyindia
Nifty in Downtrend what NEXT?Nifty is continuing the trend, but what happens now? Remember that it is only a correction, this movement can be considered as a correction part of the trend that started from September 30 so far. According to the Elliott wave, if the current correction is falling up to 38% to 68%, then it can be considered as the 4th wave correction of the five wave movement that start from the Sep 30. This is the golden ration you get when you mark the third wave from the 2nd wave using the Fibonacci tool. The big yellow box on the chart is the area where we have the last movement of the 4th wave.
However, big buyers are currently seen playing in the 18300 and 19000 areas. So, we can find another small 5 wave movement started around November 10th. If this down movement is a 4th correction wave of the November 10th, it will not go below 18580 and start its upward journey from above 18580. You can find the retracement area is the small yellow box on the chart.
In that case, the third wave of September 30 is not over yet, and a major downtrend can be expected at any time.
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Nifty Levels & Strategy for 01/Dec/2022Dear traders, I have identified chart levels based on my analysis, major support & resistance levels. Please note that I am not a SEBI registered member. Information shared by me here for educational purpose only. Please don’t trust me or anyone for trading/investment purpose as it may lead to financial losses. Focus on learning, how to fish, trust on your own trading skills and please do consult your financial advisor before trading.
NIFTY
Nifty is overbought so avoid wait for a dip & continue to follow uptrend. Overbought does not mean you should sell but consider all time high levels as good level for profit booking. Today, US market is trading in red & SGX Nifty is trading in red & 100+ points down. Tomorrow morning, gap-down should be a buying opportunity with strict SL. Put premium are very low so we should avoid PE writing. Get into short trade only when support levels are broken convincingly.
Please find below scorecard, PCR update & options statistics for your reference:
NIFTY SCORECARD DATED 30/NOV/2022
NIFTY IS UP BY 140 POINTS
Name Price Previous Day Change % Change
Nifty 18758 18618 140.30 0.75%
India VIX 13.81 13.62 0.19 1.41%
OPTION STATISTICS BASED ON 01/DEC/2022 EXPIRY DATA
Max OI (Calls) 19000 (Open Interest: 8442250, CE LTP: 2.35)
Max OI (Puts) 18600 (Open Interest: 10727400, PE LTP: 9.2)
PCR 1.63 (PCR is in overbought zone)
Nifty Calls:
ATM: Short Covering, OTM:Long Buildup, ITM:Short Covering, FAR OTM:Long Liquidation
Nifty Puts:
ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Long Liquidation
Nifty Levels & Strategy for 30/Nov/2022Dear traders, I have identified chart levels based on my analysis, major support & resistance levels. Please note that I am not a SEBI registered member. Information shared by me here for educational purpose only. Please don’t trust me or anyone for trading/investment purpose as it may lead to financial losses. Focus on learning, how to fish, trust on your own trading skills and please do consult your financial advisor before trading.
NIFTY
Congratulation Nifty traders. Finally, Nifty hit the new lifetime high & we have seen highest ever closing. Nifty opened flat & completely ignore the global market cues. Profit booking was obvious from new lifetime high but Nifty closed above 50 EMA on 15min chart. FII are buying in cash but they adding bearish positions in F&O, Pro traders are also adding bearish positions in F&O. Big players are clearly managing index at higher level. What will happen when FIIs/Pro start selling in cash????? Market may correct very sharply. Retail traders are taking things for granted. VIX is low but it may rise in no time.
Why US market corrected yesterday? Fear of another US FED hike in Dec. This time RBI may have no choice but to go ahead with hike therefore we need to be careful in coming days & work level by level. Gujrat election results may also affect market. OPEC is getting ready for another OIL production cut. OPEC want to manage crude price at higher levels. We should follow trend (buy on dips) but avoid, stay away from buying euphoria & continue to book profit at higher levels. There is no harm is ignoring the last leg of rally.
Please find below scorecard, PCR update & options statistics for your reference:
NIFTY SCORECARD DATED 29/NOV/2022
NIFTY IS UP BY 55 POINTS
Name Price Previous Day Change % Change
Nifty 18618 18563 55.30 0.30%
India VIX 13.62 13.57 0.05 0.37%
OPTION STATISTICS BASED ON 01/DEC/2022 EXPIRY DATA
Max OI (Calls) 19000 (Open Interest: 7732900, CE LTP: 1.65)
Max OI (Puts) 18500 (Open Interest: 10184950, PE LTP: 23.75)
PCR 1.22 (PCR is in buying Zone)
Nifty Calls:
ATM: Long Liquidation, OTM:Short Buildup, ITM:Short Covering, FAR OTM:Long Liquidation
Nifty Puts:
ATM: Short Buildup, OTM:Long Liquidation, ITM:Short Buildup, FAR OTM:Short Buildup
Nifty Levels & Strategy for 29/Nov/2022Dear traders, I have identified chart levels based on my analysis, major support & resistance levels. Please note that I am not a SEBI registered member. Information shared by me here for educational purpose only. Please don’t trust me or anyone for trading/investment purpose as it may lead to financial losses. Focus on learning, how to fish, trust on your own trading skills and please do consult your financial advisor before trading.
NIFTY
Once again gap-down was bought (heavy put writing) instantly amid global issues. Nifty took support at 100 EMA on 15min chart. Later Nifty moved up & almost touched the lifetime high. Evening star (negative pattern) worked perfectly & profit booking near all time high was quite obvious. Short covering in calls shows mild bullishness in Nifty. Who is making money????? As usual, option writers are really making good money.
Avoid buying euphoria amid ongoing global issues near lifetime high, retails traders should continue wait patiently for good trade setup for identifying buying/selling opportunities. Retail traders must hedge their overnight positions. Right now US markets are trading in red. Please review the data in morning & before finalizing your trading plan. Please find below scorecard, PCR update & options statistics for your reference:
NIFTY SCORECARD DATED 28/NOV/2022
NIFTY IS UP BY 50 POINTS
Name Price Previous Day Change % Change
Nifty 18563 18513 50.00 0.27%
India VIX 13.57 13.33 0.23 1.74%
OPTION STATISTICS BASED ON 01/DEC/2022 EXPIRY DATA
Max OI (Calls) 19000 (Open Interest: 7775300, CE LTP: 2.25)
Max OI (Puts) 18500 (Open Interest: 10581700, PE LTP: 49)
PCR 1.21 (PCR is in buying Zone)
Nifty Calls:
ATM: Short Covering, OTM:Short Buildup, ITM:Short Covering, FAR OTM:Long Liquidation
Nifty Puts:
ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup
Nifty 50 Breakout Retest Near 18100/18000Nifty 50 Breakout - Breakout Retest Near 18100/18000
Use the dips to accumulate Nifty for Target of 19000/19500+
Nifty Levels & Strategy for 25/Nov/2022Dear traders, I have identified chart levels based on my analysis, major support & resistance levels. Please note that I am not a SEBI registered member. Information shared by me here for educational purpose only. Please don’t trust me or anyone for trading/investment purpose as it may lead to financial losses. Focus on learning, how to fish, trust on your own trading skills and please do consult your financial advisor before trading.
NIFTY
Nifty continued it's journey in forward direction & now looking all set for making new lifetime high. Nifty started action with gap-up , mild profit booking, breakout above open price, consolidation through out the day & finally break-out above 18400. Bulls have clearly dominated the show. Volatility is quite low. US Dollar Index has corrected significantly. Brent crude is trading around $85 which is quite good for India. All factors are positive. We have seen significantly rally from lower levels. Is it really a bear market rally?????
New longs in ATM/OTM/ITM calls & Put writing in all types is clearly indicating strength towards long side. Today option buyers who waited patiently for breakout or breakdown opportunity were rewarded. Retail traders need wait patiently for good quality setup & simply replicate profit making trades again & again. Retail traders should continue to trade with caution near new lifetime high, buy on dips with hedge & book limited profit at higher level or loss at lower level. Please find below scorecard, PCR update & options statistics for your reference:
NIFTY SCORECARD DATED 24/NOV/2022
NIFTY IS UP BY 217 POINTS
Name Price Previous Day Change % Change
Nifty 18484 18267 216.85 1.19%
India VIX 13.48 14.04 -0.56 -4.02%
OPTION STATISTICS BASED ON 01/DEC/2022 EXPIRY DATA
Max OI (Calls) 18300 (Open Interest: 3969050, CE LTP: 272)
Max OI (Puts) 18300 (Open Interest: 6962750, PE LTP: 32.75)
PCR 1.28 (PCR is in buying Zone)
Nifty Calls:
ATM: Long Buildup, OTM:Long Buildup, ITM:Long Buildup, FAR OTM:Short Buildup
Nifty Puts:
ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup
DON'T EXPECT MORE FALL IN NIFTYNeo wave Extracting triangle pattern(Limited corrective activity)is just completed in NIFTY INDEX.
It is over assumed and corrective action completed as c5 corrected only 0.618 times of c1
16855(c5 low) is the stop for longs and cross above 18000 is the indication for next bull market
Earnings season, Covid relief, short covering may fuel the market
Nifty Levels & Strategy for 23/Nov/2022Dear traders, I have identified chart levels based on my analysis, major support & resistance levels. Please note that I am not a SEBI registered member. Information shared by me here for educational purpose only. Please don’t trust me or anyone for trading/investment purpose as it may lead to financial losses. Focus on learning, how to fish, trust on your own trading skills and please do consult your financial advisor before trading.
NIFTY
Nifty continued to trade in small range. Big players have significantly reduced their long as well as short positions. F&O action - new longs & short covering in calls & put writing (ATM/OTM) is indicating mild strength in Nifty . Overall, Bulls Vs Bears positions with positive bias are pretty much balanced with highest OI in CE (18300) & PE (18200). However, we should continue to book profit at higher level.
Please find below scorecard, PCR update & options statistics for your reference:
NIFTY SCORECARD DATED 22/NOV/2022
NIFTY IS UP BY 84 POINTS
Name Price Previous Day Change % Change
Nifty 18244 18160 84.25 0.46%
India VIX 13.84 14.80 -0.95 -6.45%
OPTION STATISTICS BASED ON 24/NOV/2022 EXPIRY DATA
Max OI (Calls) 18300 (Open Interest: 10665950, CE LTP: 52.55)
Max OI (Puts) 18200 (Open Interest: 9299850, PE LTP: 27.55)
PCR 0.86 (PCR is in bearish zone)
Nifty Calls:
ATM: Long Buildup, OTM:Long Liquidation, ITM:Short Covering, FAR OTM:Long Liquidation
Nifty Puts:
ATM: Short Buildup, OTM:Short Buildup, ITM:Long Liquidation, FAR OTM:Long Liquidation
Nifty Outlook 21st November to 25th November 2022Market Outlook :
Market gave a good close on Friday after testing the support around 18029 levels. The close above 18300 is an indication of good strength. Mid-Cap and Small-Cap stocks are staring to looks oversold and might start to form bottom in a week or Two. Nifty has formed a perfect ‘Doji’ candle showing indecisiveness and can break out on either side.
Nifty will be very bullish and go towards All time high above the levels of 18446. Nifty can also break down and search for more supports below 18205 levels.
Important Resistances : 18446 and 18604.
Important Supports : 18205 and 17969.
Nifty 50 Price action today Friday 18/11/2022We have seen very volatile expiry. Buyers had shown their confidants well. But the triple pattern break was in a down trend. Now wave 5 and wave 3 have been confirmed. As you are seeing a big correction wave after 5 wave finish. And also a 5 wave down trend pattern in itself can be seen on the chart. 18200 -18230 range is likely to have a retracement. It is the fourth correlation wave to small retracement of the 5 wave downtrend. Anyway lets wait for the next impulse wave which is 5th wave of 4hr time frame, as i said the 3rd impulse also we confirmed yesterday. As per the wave pattern this downtrend is valid whenever nifty holding its price range above 17500. However Nifty is very confident of not going below 17900.
Nifty 50 Price action today expiry 17/11/2022Looking at elliott waves, we can see that Nifty has now completed a C pattern yesterday (5 and 15 min time frame ). As well as the start of an impulse wave. Once this has proceeded as an impulse wave. As you can see the second wave retraces from that yellow box and continues the upward trend and 3 rd wave impulse.
If we look at the open interest, we have reasonable support at 18300 and if Nifty is not able to sustain that level, a decline will happen.
As per my earlier posts, a steep decline can happen anytime until we confirm the end of wave 5 of lower time frame or wave 3 of the 4 hour time frame. it will be the last correction for this year.
Nifty 50 Price prediction monthly trade target area Nifty 50 Price prediction monthly trade target area.
Nifty Levels & Strategy for 16/Nov/2022Dear traders, I have identified chart levels based on my analysis, major support & resistance levels. Please note that I am not a SEBI registered member. Information shared by me here for educational purpose only. Please don’t trust me or anyone for trading/investment purpose as it may lead to financial losses. Focus on learning, how to fish, trust on your own trading skills and please do consult your financial advisor before trading.
NIFTY
Nifty is slowly & firmly inching towards new lifetime high after decent consolidation. Today short covering in ATM & mild buying lifted the Nifty beyond 18400 plus level. Nifty is trading with positive bias. However, retail traders should continue to book profit near 52W high level and stay light & look for good quality trade setup.
Shall we look for buy on dips opportunities near major support levels?????? Yes, I think so till the trend is positive. Please find below scorecard & options statistics.
NIFTY SCORECARD DATED 15/NOV/2022
NIFTY IS UP BY 74 POINTS
Name Price Previous Day Change % Change
Nifty 18403 18329 74.25 0.41%
India VIX 14.64 14.91 -0.27 -1.84%
OPTION STATISTICS BASED ON 17/NOV/2022 EXPIRY DATA
Max OI (Calls) 19000 (Open Interest: 7339350, CE LTP: 0.9)
Max OI (Puts) 18300 (Open Interest: 8316150, PE LTP: 24)
PCR 1.15 (PCR is in buying Zone)
Nifty Calls:
ATM: Short Covering, OTM:Short Buildup, ITM:Short Covering, FAR OTM:Long Liquidation
Nifty Puts:
ATM: Short Buildup, OTM:Short Buildup, ITM:Long Liquidation, FAR OTM:Short Buildup
Nifty 50 Price prediction 2023-2024Nifty 50 Swing and Long Term trading price prediction | Nifty 50 Price Prediction 2023 and 2024.
Reversal can be seen on nifty from these reversal zonesNegative Butterfly pattern can be observed on nifty daily chart which if triggered can make nifty fall till 17000.. we can search for short opportunity when nifty starts falling from 18250 levels
NIFTY FOR TOMMOROW -14 Nov 22 - 18 Nov 22Weekly Chart
Nifty opened this week with a Slight gap @ 18211 vs the previous week's close @ 18157.
During the week it slides lower only to take support at positional levels @ 178950, and bounces from there to close near the week's high.
Week's Candle: Indecisive candle( Hanging man types)
Next week's opening Probability: Gap up or gap down
Volatility: indecisive candles near high suggesting increased volatility.
Positional Support @ 17850- 17950
View: Positive - as long index trades above 17850.
Daily Chart
Nifty 50 opened with a gap of approx 285 points, that's a huge opening controlled by the bulls.
Since Opening prices sustained the gap and moved slowly to the upside and closed near the day's High. i. e 18349.70
Current levels:18350
Immediate support @ 18160-18200
Immediate Resistance @ 18550
View: Buy on a dip near support levels.
NIFTY SHORTNIFTY ARE CRITICAL POINT CREATED A 4hr divergence
sometimes all u need is few lines
nifty is in bull mode since last few session
expecting a pullback
levels marked in chart
comments are appreciated !
Index Looking Weak, may see some profit booking below 17940#Nifty - Levels for the day
Index preparing to open lower and 18100 will again work as a strong resistance for index now,
If we are taking resistance than possible we may see a good profit booking in index.
NIFTY is in for a DOUBLE TOPHave you seen the US market? It took support at the per covid High
Looking at the RSI we can clearly see the weakness in the price
NIFTY will take a hot and will lose the last support causing panic see and will hot the pre covid top
I would take profits on all the gains, STOCKS you can leave(only strong ones)
But take your money out of the Mutual Funds
Great buy at pre covid top, we are yet to hit recession, be warned
Nifty Levels & Strategy for 09/Nov/2022Dear traders, I have identified chart levels based on my analysis, major support & resistance levels. Please note that I am not a SEBI registered member. Information shared by me here for educational purpose only. Please don’t trust me or anyone for trading/investment purpose as it may lead to financial losses. Focus on learning, how to fish, trust on your own trading skills and please do consult your financial advisor before trading.
NIFTY
Nifty opened with a gap-up. Immediately profit booking brought it down. Later, Nifty recovered nicely from day's low and closed near day's high. This clearly indicates profit booking at higher levels and buying interest near support levels. Every dip is getting bought from past few weeks and profit booking is obvious near lifetime high. Nifty is slowly inching towards new lifetime high which is just a number amid global issues.
Big players are buying in cash & adding bearish positions in F&O. Retail traders needs to trade very carefully near lifetime high and work level by level with strict SL. US market is trading firmly in green. Let us expect another gap-up tomorrow morning. Option (call) writers are doing quite well after gap-up and put writers near major support levels. Big players are enjoying option theta decay. Retails traders must hedge their overnight positions.
NIFTY SCORECARD DATED 08/NOV/2022
NIFTY IS UP BY 86 POINTS
Name Price Previous Day Change % Change
Nifty 18203 18117 85.65 0.47%
India VIX 15.59 15.66 -0.07 -0.45%
OPTION STATISTICS BASED ON 10/NOV/2022 EXPIRY DATA
Max OI (Calls) 19000 (Open Interest: 9641950, CE LTP: 1)
Max OI (Puts) 18000 (Open Interest: 8745100, PE LTP: 19)
PCR 0.84 (PCR is in bearish zone)
Nifty Calls:
ATM: Short Buildup, OTM:Short Buildup, ITM:Short Covering, FAR OTM:Short Buildup
Nifty Puts:
ATM: Short Buildup, OTM:Short Buildup, ITM:Short Buildup, FAR OTM:Short Buildup
NIFTY 50 for tomorrow - 8TH NOVEMBER 2022Nifty opened with a huge gap today @ 18215( vs. yesterday's close @ 18127).
The index saw a sell-off in the first hour of the trading, followed by weakness in the next following hours as well, and made a low of 18064.
Though it recovered post 1.30 p.m and was able to close near the day's High.
Today's candle: Long legged Spinning candles
Candle Interpretation: Long-legged candle at highs, suggesting increased volatility and increased risk of buyers trapping at highs.
Since all the time frames still look good and the price is also positive, one can still hold their long position but with strict stop loss, and it's better to play light in the current market price scenario.
IMMEDIATE SUPPORT: 18160 - 18166
IMMEDIATE RESISTANCE: 18200-18240
NIFTY 50 for coming weekOpens with a Slight Gap.
Saw some corrections initially.
Started to recover post one hour.
And then zoomed in on the final hour of the trading session
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Daily candle: Bullish HH HL candle
Weekly Candle: Bullish HH HL candle.
Weekly Candle: Bullish HH HL candle.
Price Action on all timeframes looks great.
Weekly Daily Support: 17850- 17950
Coincides and Sustaining the same, nifty is more likely to move higher and higher in the coming week and month.
