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NIFTY : Trading Levels and Plan for 31-Oct-2024 Intro: On the previous trading day, Nifty exhibited a mix of consolidation and upward momentum, with notable resistance zones tested near 24,594 . Key levels for 31-Oct-2024 have been identified, with trends marked as follows: yellow for sideways movement, green for bullish momentum, and red for bearish sentiment. This plan provides strategies for different opening scenarios. Trading Plan for 31-Oct-2024 Gap Up Opening (100+ points above) If Nifty opens 100+ points above the previous close, it may test the First Resistance/Consolidation Zone near 24,594 . If the index sustains above this level, we may see a push towards the Profit Booking Zone at 24,694 . However, if it struggles to hold above 24,594 , expect a retracement towards the Opening Support/Resistance level at 24,320 . – A reversal from the resistance levels could prompt a move back to the Support at Retracement at 24,163 . Flat Opening (within 50 points of the previous close) For a flat opening, the key level to watch is 24,349 . Sustaining above this point could lead to a breakout, targeting 24,594 and possibly extending towards the Profit Booking Zone at 24,694 . Conversely, if momentum fails above 24,349 , Nifty might move sideways around 24,320 or even test the lower support at 24,285 . – A downside break below 24,285 could increase bearish pressure, with potential support found at 24,163 . Gap Down Opening (100+ points below) In a gap-down scenario, initial support may be found near 24,285 . A rebound from this level could bring the price back toward 24,349 . If the index sustains above 24,349 , bullish momentum could retest the resistance at 24,594 . However, if 24,285 fails to hold, a decline towards Support at Retracement near 24,163 is likely. – Persistent weakness below 24,163 might drive further downside towards the Last Intraday Support at 24,040 . Risk Management Tips for Options Trading Manage your position sizes wisely, especially when volatility is high. Consider deploying trailing stops near major resistance/support levels to protect gains. Options spreads can limit risk exposure, which is particularly useful in a choppy market. Summary and Conclusion The primary focus for 31-Oct-2024 remains on the resistance at 24,594 and support at 24,163 . Traders should stay flexible with these levels and use disciplined stop-loss strategies to manage risks. Observing the price action after the opening will provide better insight into the day’s trend. Disclaimer: I am not a SEBI-registered analyst. This analysis is based on technical levels and reflects my personal view. Please perform your own analysis or consult a financial advisor before trading.
NSE:NIFTYLong
by LiveTradingBox
NIFTY : Trading Levels and Plan for 29-Oct-2024 Intro: On the previous day, Nifty displayed a upward movement from the provided levels in yesterdays trading plan and minor fluctuations within key levels. The chart illustrates potential sideways movement in yellow , an expected bullish trend in green , and a bearish trend in red . For today's trading, we will observe various opening scenarios and outline strategies accordingly. Trading Plan for 29-Oct-2024 Gap Up Opening (100+ points above) If Nifty opens with a 100+ points gap up, it is likely to face resistance near the 24,453 - 24,563 range, which is marked as the Opening Resistance / No Trade Zone . Observe price action here. If Nifty sustains above 24,563 , it may target the Profit Booking Zone around 24,715 - 24,759 . However, if it fails to break above the resistance, expect a potential retracement towards the Opening Support at 24,282 . – In case of strong selling pressure, Nifty could pull back further, aiming toward 24,162 as a potential support. Flat Opening (within 50 points of the previous close) With a flat opening, focus on the initial 30 minutes to gauge market sentiment. If prices sustain above the 24,453 level, we may see a push toward 24,563 . A breakout above 24,563 will likely lead to a bullish trend targeting Profit Booking Zone at 24,715 - 24,759 . However, if it fails to sustain above the No Trade Zone , expect sideways movement or a dip toward 24,282 . – Any move below 24,282 could potentially extend towards 24,162 , testing the Last Intraday Support level. Gap Down Opening (100+ points below) In a gap-down opening, monitor the 24,282 level as the immediate support. If it holds, Nifty may attempt to retest the Opening Resistance Zone around 24,453 . A breakout above this level could bring sideways or bullish momentum up to 24,563 . Failure to reclaim 24,282 may lead to further downside pressure, potentially pulling prices to the Last Intraday Support at 24,162 . – Watch for price stability around 24,162 if it is reached, as this may serve as a potential reversal point. Risk Management Tips for Options Trading Consider setting a defined stop-loss for each options position based on volatility levels; hourly candle closes can be useful for managing intraday risk. Avoid over-leveraging. In options trading, position sizing should reflect the inherent risk and potential for quick price changes. Utilize trailing stops to lock in profits if Nifty moves favorably. This is particularly effective in highly volatile sessions. Summary and Conclusion Today, focus on the key zones: 24,453 - 24,563 as resistance and 24,282 as support. A break above or below these levels could set the day's trend. Use a balanced approach, aligning with the prevailing sentiment indicated by the chart structure. Disclaimer: I am not a SEBI-registered analyst. This analysis is based on personal views and technical parameters. Please conduct your research or consult a financial advisor before making any trading decisions.
NSE:NIFTY
by LiveTradingBox
NIFTY Bears Roar! TP2 Hit, Momentum Building for More!NIFTY 15m time frame Short Trade Entry: 24,827.10 Current Price: 24,565.50 – TP2 completed, moving closer to TP3 and TP4 Key Levels: Stop-Loss (SL): 24,902.70 – Protecting against reversals above resistance. Take Profit 1 (TP1): 24,733.70 – Hit, confirming downtrend initiation. Take Profit 2 (TP2): 24,582.50 – Hit, trend acceleration seen. Take Profit 3 (TP3): 24,431.30 – Approaching the next key target. Take Profit 4 (TP4): 24,337.85 – Final target for this move. Trade Outlook: NIFTY continues its downward journey, with TP2 successfully hit. Bearish pressure remains strong, and we anticipate the next targets being met as the market sustains its downtrend.
NSE:NIFTYShort
by ProfitsNinja
Nifty Plummets! All Targets Achieved in 15-Minute Short TradeTechnical Analysis: Nifty – 15-Minute Timeframe (Short Trade) Nifty provided a clear short trade setup with an entry at 25006.45 on 16th October at 2:45 PM. The trade has been highly successful, with the price reaching all designated profit targets. Key Levels Entry: 25006.45 – The short position was initiated here following a strong bearish signal. Stop-Loss (SL): 25032.75 – Placed above recent resistance to manage risk against a potential reversal. Take Profit 1 (TP1): 24973.90 – The first target was quickly reached, confirming the initial bearish momentum. Take Profit 2 (TP2): 24921.30 – Further downside pressure pushed the price to this level. Take Profit 3 (TP3): 24868.70 – The bearish trend continued, achieving this target. Take Profit 4 (TP4): 24836.20 – The final target, marking a complete and successful trade. Trend Analysis The price stayed firmly below the Risological Dotted trendline, affirming the strength of the bearish trend. The sustained selling pressure helped achieve all targets, indicating strong market momentum in favor of sellers. The short trade on Nifty has concluded successfully, hitting all targets, with the final target at 24836.20. The precision of the entry and the guidance of the Risological Dotted trendline ensured a profitable trade.
NSE:NIFTYShort
by ProfitsNinja
NIFTY Market Insights: Anticipating significant shiftsDear Traders, I trust this message finds you well in both your trading endeavors and personal pursuits. I am pleased to present a compelling opportunity through a new NIFTY analysis that indicates an imminent significant market shift. The recent upward surge in the market has prompted concerns, as my analysis over the past two months has consistently pointed to an anticipated correction owing to market overvaluation and distinct completion patterns. Technical details: I. Resistance I: 25,388 ~ 25,430 (Extended trend line from 17th JUN'22) II. Resistance II: 25,490 ~ 25,510 ~ 25,526 (Conj. Extended trend line from 24 JAN'24 & 24 JUN'24) III. Resistance III: 25,590 (Extended trend line from 29 FEB'16 – Long & strong Resistance) Please note that these values serve as indicative levels of support and resistance. The wave patterns depicted in the diagram, signal completion of the trend. Additional observations: Time series Forecasting: Top - Top - Today (04/09/2024) = 1690 D from 20jan'20 (1710 = 360*4 + 270) = 1053 D from 19oct'21 (1080 = 360*3) = 644 D from 01dec'22 (630 = 360+270) = 356 D from 15sept'23 (~360) Bottom – Top - Today (04/09/24) = 1626 D from 24mar'20 (1620 = 4*360+180) = 811 D from 17jun'22 (810 = 720 + 90) = 315 D from 26oct'23 (exactly an important angle) = 535 D from 20mar'23 (540 = 360 + 180) Given these short and long-term observations, the time resistance(s) are notably robust. Historical Repetition: The ongoing 14-day winning streak, continuously setting new records, typically precedes short-term corrections ranging from 3% to 24%, as historically observed. For instance, in May 2006, Nifty’s non-stop 9-day rally culminated in a 24% index decline in the subsequent month, while a similar trend in February 2000 resulted in an 11% decline in the subsequent month. Consequently, a market breather is anticipated, with profit booking potentially driving the market to deeper levels before embarking on a new uptrend (anticipated correction in the monthly scale, evident in the 3M time frame). Further details will be provided as the market unfolds. A correction of this magnitude is expected to materialize, with the following scenarios: The initial focus is to prioritize the trend line-based correction scenario. The primary support levels are identified at 23,100. Any subsequent breakout will result in distinct scenarios. Scenario 1: From 15,183.40, retracement towards 21,500 = 4,000 pts (38.2%R) (-12 to 15%), highly probable given the aforementioned reasons. Scenario 2: From 16,828, retracement towards 21,100 levels = 4,400 pts (50%R) (-13% to 17%), also plausible within the realm of reality. One of these scenarios is poised to unfold as the market progresses into correction. Fed and Markets: Considering the correlation between interest rates and market fluctuations, it is wise to take them into account. Typically, their relationship is inversely proportional. However, the Fed has been delaying the easing process due to economic conditions such as employment and inflation data. This month may bring many surprises. If everything goes according to plan, interest rates will be reduced, theoretically boosting investment in gold and stock markets. On the other hand, if the dovishness in the rate decision continues, it will likely unsettle the markets, at least in the short term. Further data releases this month will help in forming a consensus. IMPORTANT DATES TO REMEMBER!!! Sept - 5, 6, 11, 12, 18 (FOMC) Strategy: 1. Being bullish beyond this point is not recommended. 2. Bearish bets are prudent from 25, 300 – 350, 400 for FOMO traders. Risky traders may consider waiting for the 25,500 levels to be tested. Disclaimer: Before concluding, I must underscore that the insights shared are based on my analysis. It is imperative for you to conduct your research and, if necessary, consult with a financial advisor before making any trading decisions. The dynamic nature of financial markets necessitates that your strategies align with your financial goals and risk tolerance. Your feedback is genuinely appreciated, and I would encourage you to share your thoughts in the comments section. I am committed to engaging with each response. Fellow Traders, Countless hours of dedication and effort have gone into creating this valuable analytical resource. If you find it useful, I humbly ask for your support by liking and following me. Your comments and thoughts on this idea are highly valued, and I am committed to engaging with each one personally. Thank you for investing your time in reading this article, Your readership is greatly appreciated. Wishing you profitable and joyful trading!!!
NSE:NIFTYShort
by WDG_Dinesh_Gengarajan
NIFTY Podcast 17 Sep 2024Today, only 1 trade was taken. - Initially the market was sideways, as 5m candles closed both below and above Opening Price - 25409 - The OI data was positive, but 2 departments were Bullish, so after taking look at the closer look at the strikes 25400 and 25450, the Put Writers increased, which gave us confidence to take the trade. - The risk to reward wasn't 1:1, instead the target was Thick line, and with 5 points buffer the target was 25441 Notes: - In such sideways market, it would be better to take Short Selling Price Action strategy to aim for 1% target and 1% stoploss.
NSE:NIFTYLong
by gupshupblog
NIFTY on the cusp for potential correction!Dear Traders, I trust this message finds you well in both your trading endeavors and personal pursuits. I am pleased to present a compelling opportunity through a new NIFTY analysis that indicates an imminent significant market shift. The recent upward surge in the market has prompted concerns, as my analysis over the past two months has consistently pointed to an anticipated correction owing to market overvaluation and distinct completion patterns. Technical details: I. Resistance I: 25,388 ~ 25,430 (Extended trend line from 17th JUN'22) II. Resistance II: 25,490 ~ 25,510 ~ 25,526 (Conj. Extended trend line from 24 JAN'24 & 24 JUN'24) III. Resistance III: 25,590 (Extended trend line from 29 FEB'16 – Long & strong Resistance) *** Please note that these values serve as indicative levels of support and resistance. The wave patterns depicted in the diagram signal the completion of the trend. imgur.com Additional observations: Time series Forecasting: Top - Top - Today (04/09/2024) = 1690 D from 20jan'20 (1710 = 360*4 + 270) = 1053 D from 19oct'21 (1080 = 360*3) = 644 D from 01dec'22 (630 = 360+270) = 356 D from 15sept'23 (~360) Bottom – Top - Today (04/09/24) = 1626 D from 24mar'20 (1620 = 4*360+180) = 811 D from 17jun'22 (810 = 720 + 90) = 315 D from 26oct'23 (exactly an important angle) = 535 D from 20mar'23 (540 = 360 + 180) Given these short and long-term observations, the time resistance(s) are notably robust. Historical Repetition: The ongoing 14-day winning streak, continuously setting new records, typically precedes short-term corrections ranging from 3% to 24%, as historically observed. For instance, in May 2006, Nifty’s non-stop 9-day rally culminated in a 24% index decline in the subsequent month, while a similar trend in February 2000 resulted in an 11% decline in the subsequent month. Consequently, a market breather is anticipated, with profit booking potentially driving the market to deeper levels before embarking on a new uptrend (anticipated correction in the monthly scale, evident in the 3M time frame). Further details will be provided as the market unfolds. A correction of this magnitude is expected to materialize, with the following scenarios: The initial focus is to prioritize the trend line-based correction scenario. The primary support levels are identified at 23,100. Any subsequent breakout will result in distinct scenarios. Scenario 1: From 15,183.40, retracement towards 21,500 = 4,000 pts (38.2%R) (-12 to 15%), highly probable given the aforementioned reasons. Scenario 2: From 16,828, retracement towards 21,100 levels = 4,400 pts (50%R) (-13% to 17%), also plausible within the realm of reality. One of these scenarios is poised to unfold as the market progresses into correction. Fed and Markets: Considering the correlation between interest rates and market fluctuations, it is wise to take them into account. Typically, their relationship is inversely proportional. However, the Fed has been delaying the easing process due to economic conditions such as employment and inflation data. This month may bring many surprises. If everything goes according to plan, interest rates will be reduced, theoretically boosting investment in gold and stock markets. On the other hand, if the dovishness in the rate decision continues, it will likely unsettle the markets, at least in the short term. Further data releases this month will help in forming a consensus. IMPORTANT DATES TO REMEMBER!!! Sept - 5, 6, 11, 12, 18 (FOMC) Strategy : 1. Being bullish beyond this point is not recommended. 2. Bearish bets are prudent from 25, 300 – 350, 400 for FOMO traders. Risky traders may consider waiting for the 25,500 levels to be tested. Disclaimer: Before concluding, I must underscore that the insights shared are based on my analysis. It is imperative for you to conduct your research and, if necessary, consult with a financial advisor before making any trading decisions. The dynamic nature of financial markets necessitates that your strategies align with your financial goals and risk tolerance. Your feedback is genuinely appreciated, and I would encourage you to share your thoughts in the comments section. I am committed to engaging with each response. Fellow Traders, Countless hours of dedication and effort have gone into creating this valuable analytical resource. If you find it useful, I humbly ask for your support by liking and following me. Your comments and thoughts on this idea are highly valued, and I am committed to engaging with each one personally. Thank you for investing your time in reading this article, Your readership is greatly appreciated. Wishing you profitable and joyful trading!!!
NSE:NIFTYShort
by WDG_Dinesh_Gengarajan
Nifty Positional Trading PlanThe market continued to consolidate while maintaining its upward momentum for the ninth consecutive session and hit a new Nifty 50 closing high on 28th August. The rise of 0. 14 per cent to 25,052 points formed a doji like candlestick pattern indicating consolidation and indecision among buyers and sellers on future market trends. US stock markets fell across the board overnight and Asia opened today with a correction, creating instability in the domestic market. The bulls may weaken after consecutive rallies and the market is expected to remain consolidated on the monthly F&O expiry date. Important resistance above is at 25, 100 pips, while short-term key support appears at 24,950 pips, at 5-day EMA level. Nifty Options For call option data, the highest number of open positions is at 25,500 strike, which can act as a key resistance level for Nifty in the short term. In put options, the highest number of open positions is at 25,000 strike, which can act as a key support level for Nifty. August F&O expires and can be shifted to September F&O to open new positions. Longs have shown weakness and remain short for the next few sessions, today one can focus on NIFTY SEP 24500 PE and enter new position at 135-150 with scheduled profit of 15%.
NSE:NIFTYLong
by PJVFINANCIAL
Nifty Expiry Analysis and Outlook(29-08-24)In the last week (14th August Expiry), Nifty traded within a narrow range, largely hovering around the CPR (Central Pivot Range) calculated for the expiry. This week, we saw Nifty open above the Pivot, signaling a bullish reversal. The index then tested the Pivot before surging to R4, forming a strong green expiry candle. This upward move was anticipated following a week of range-bound activity. Looking ahead to next week, if history is any guide, we might expect a range-bound movement after such a strong surge. However, it's wise to remain on the long side of the market while observing how the market behaves tomorrow. I'll provide updates as the situation evolves.
NSE:NIFTY1!
by tanayroy
Nifty Prediction for Tomorrow: Levels for 23 August, 2024Nifty Prediction for Tomorrow: Levels for 23 August, 2024 Sideways today! But, all CE buying side targets have been met and a small position of the CE monthly trade is still open with open target. Trailing Stoploss : 24,687 Resistance: NONE, all CE side targets met If the price crosses and closes below the Risological Trendline, I will be looking at buying PE side position. Till then, Iam gonna enjoy the CE side profit. Good luck
NSE:NIFTYLong
by ProfitsNinja
#NIFTY Intraday Support and Resistance Levels - 21/08/2024🔔 Nifty Update for Today: 📈 Gap-Up Opening Expected: Expected Opening Level: Near 24700 Key Level: 24700 Potential Upside Target: 24850 Nifty is expected to open with a gap up near the 24700 level today. If the index sustains above this level after opening, we could witness a strong upside rally, potentially reaching up to 24850 during the session. 📉 Watch for Downside Risks: Critical Reversal Level: 24650 Support Level: 24500 However, if Nifty starts trading below 24650, downside movement may occur. The 24500 level will serve as an important support in today’s session.
NSE:NIFTY
by TradZoo