Nifty Next MoveNifty have formed harmonic pattern
we can expect a small down trend and after Rally
also the area is above 70% of the trend line formation so we can expect buyers in Discount area
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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.
#NIFTY Intraday Support and Resistance Levels - 14/10/2024Flat opening expected in nifty. Expected opening near 25000 level. After opening if nifty starts trading below 24950 level then possible downside upto 24700 level. Any upside rally only expected if it's sustain above 25000 level in starting session. Upside 25250 will act as a strong resistance in today's session.
#nifty50 outlook for upcoming week 14th-18th Oct 2024The Nifty 50 closed the week at 24,964, a 50-point decline from the previous week. While it touched a high of 25,234, it also dipped to a low of 24,694. As predicted last week, the index remained within the range of 25,600 to 24,400.
Looking Ahead: A Cautious Outlook
For the upcoming week, I anticipate a trading range of 25,550 to 24,350. However, the low of 24,694 is a crucial support level. If the Nifty breaches this, the next strong support lies at 24,400-24,350. A breakdown below this level could signal a potential decline towards 23,300.
A Bullish Monthly Perspective
Despite the recent volatility, my monthly outlook for the Nifty remains bullish. Therefore, I will follow a "buy on dips" strategy.
S&P 500: A Positive Sign
As mentioned previously, the S&P 500 has successfully reached its first Fibonacci target of 5820. To initiate the next leg of its upward movement, it needs to sustain above this level. If it can do so, we could see it touch 5899 or even 6012 (a significant level). This positive momentum in the U.S. market could also provide support to Indian equities.
#NIFTY Intraday Support and Resistance Levels - 11/10/2024Today expected slightly gap down opening in nifty near 25000 level. After opening if nifty sustain above 25000 level then possible upside move upto 25250 level. Below 24950 level there will be strong downside fall possible upto 24700 level. Any major bullish rally only expected in case nifty starts trading and sustain above 25250 level.
NIFTY INTRADAY LEVELS FOR 10/10/2024BUY ABOVE - 25060
SL - 24970
TARGETS - 25120,25180,25230
SELL BELOW - 24970
SL - 25060
TARGETS - 24890,24800,24700
NO TRADE ZONE - 24970 to 25060
Previous Day High - 25280
Previous Day Low - 24970
Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day.
Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move.
Please NOTE: this levels are for intraday trading only.
Disclaimer - All information on this page is for educational purposes only,
we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made.
Request your support and engagement by liking and commenting & follow to provide encouragement
HAPPY TRADING 👍
NIFTY INTRADAY LEVELS FOR 09/10/2024BUY ABOVE - 25060
SL - 24980
TARGETS - 25120,25180,25230
SELL BELOW - 24890
SL - 24980
TARGETS - 24800,24700,24600
NO TRADE ZONE - 24890 to 25060
Previous Day High - 25060
Previous Day Low - 24800
Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day.
Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move.
Please NOTE: this levels are for intraday trading only.
Disclaimer - All information on this page is for educational purposes only,
we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made.
Request your support and engagement by liking and commenting & follow to provide encouragement
HAPPY TRADING 👍
#NIFTY Intraday Support and Resistance Levels - 09/10/2024Gap up opening expected in nifty near 25200 level. 25250 level will act as a strong resistance for today's session. Expected reversal from this level. Any strong bullish rally only possible above this level. Downside 25000 will act as a intermediate support for nifty. Strong fall expected below 24950 level in today's session.
NIFTY Short Mastery on 15m Time Frame: 940 Points SecuredOn the 30th of September, we initiated a short entry at 25996.85 using the Risological Swing Trader, capturing a robust downtrend as the price continued to respect our dotted trendline indicator. To date, this strategy has delivered a significant 940 points in profit, exemplifying the effectiveness of our approach.
Target Points:
TP 1: 25823.50
TP 2: 25543.00
TP 3: 25262.50
TP 4: 25089.15
Stop Loss (SL): 26137.10
The Risological Swing Trader has once again proven its strength in spotting market reversals, allowing us to secure substantial gains. We will stay vigilant as we approach the reversal.
#NIFTY Intraday Support and Resistance Levels - 08/10/2024Slightly gap up opening expected in nifty near 24900 level. 24950-25000 will act as a strong upside resistance for nifty. Possible nifty gives reversal from this level towards the 24700 level and this can be extend upto 24500 in case nifty gives breakdown of 24700 level. Any strong bullish side rally only expected above 25000 level.
#NIFTY Intraday Support and Resistance Levels - 07/10/2024Gap up opening expected in nifty near 25200 level. After opening nifty will face strong resistance at 25250 level and possible reversal from this level. Downside 25000 will act as a crucial support for today's session. In case nifty gives breakdown of 24950 level then we can see strong downside fall upto 24700 level. Any upside rally only expected if nifty starts trading and sustain above 25250 level.
NIFTY INTRADAY ANALYSIS FOR 07/10/2024BUY ABOVE - 25080
SL - 25020
TARGETS - 25130,25180,25230
SELL BELOW - 24950
SL - 25020
TARGETS - 24900,24850,24800
NO TRADE ZONE - 25950 to 25080
Previous Day High - 25490
Previous Day Low - 24950
Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day.
Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move.
Please NOTE: this levels are for intraday trading only.
Disclaimer - All information on this page is for educational purposes only,
we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made.
Request your support and engagement by liking and commenting & follow to provide encouragement
HAPPY TRADING 👍
Nifty50 analysis for upcoming week 7-11th Oct 2024The Indian stock market had a volatile week, primarily driven by the escalating Iran-Israel conflict. The Nifty 50 index closed at 25,014, down 1,170 points from the previous week's close. The index made a high of 26,134 and a low of 24,966 during the week.
For the coming week, the expected range for the Nifty 50 is 25,600 to 24,400 . A breach of these levels could lead to further volatility. The crucial support level is at 24,450, which is the WEMA21 support. If the index breaks below this level, a correction towards 23,000 is possible.
On the other hand, the S&P 500 index closed at 5,751, forming a bullish hammer candle, which is a positive sign for the US market. If the S&P 500 can sustain above 5,800 next week, it could rise further to 5,820, 5,899, or even 6,012. A strong performance in the US market could help Indian markets recover.
Overall, the market outlook for the coming week remains uncertain due to the ongoing geopolitical tensions. However, there is a possibility of a bounce in the market, especially if the S&P 500 continues to show strength.
Nifty - The Iran-Israel ImpactIran contributes nearly 3.3% of total crude oil production globally.
Nifty has corrected almost 5% due to the fresh conflict escalation between Iran and Israel.
Though I am certain that this isn't the end of the conflict, rather, Iran will have to face the wrath of Israeli counter, but unless any third party gets involved except the US, the correction in Nifty (specifically due to this conflict and upcoming war) seems to have completed.
Though, I am not bullish on the Indian markets in the short term, mainly due to overstretched valuations of MidCap companies, but I certainly believe that the ongoing correction would seize in the upcoming week. I am hopeful that Nifty will end the current calendar year somewhere in the range of 24750 and 25250 (exactly where the markets stand at the moment). So for me, it is now time to take advantage of this fall and pick fundamentally strong long-term opportunities.
This isn't a trading call and is solely my point of view. I have just tried to share my market expectations that I have formed basis my understanding of the economy in general and equity markets in particular.
I understand that this is a very bold call specially when the Index has corrected almost 5% in 5 trading sessions, and there is fair possibility of my expectation going wrong.
But, I also understand that having a point of view is better than going blank, and failing while trying is better than not trying at all.
Consult your financial advisor and do your own research before making any financial commitments.