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Niftytrend

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
Technical bounce in Nifty today, recovery can be a long processToday what we saw can be called as technical recovery by Nifty in the process of bottom formation. Actual recovery can still be a long process. Bulls can be back inn business only if we get a closing above mother line of 50 days EMA that is at 24898. 24898 is a critical level because mid channel resistance for the current parallel channel as well as Mother line. Whether Nifty can weather the storm and move ahead is only a question which time will answer in the short term. Long term investors can see current situation as partial entry zone for large and mid-caps which have given a good result this quarter or are giving a good result. Supports for Nifty remain at: 23865, 23684, 23464 (Father line Strong support 200 days EMA) and 23626 (Strong Parallel Channel Bottom Support). Resistances for Nifty Remain at: 24492 (Today's high and strong Trend line resistance), 24679, 24898 (Strong Mid-channel and Mother line resistance of 50 days EMA), 25221 and 25623. Strong momentum and positive action has potential to take Nifty back to 26K+ levels. As on date even after strong resilience shown by Nifty FIIs are still on the selling side as they were net sellers of Equity worth Rs.3228 Crores. DIIs and Retail investors have been on the buying side at every dip. This is what is not allowing the Nifty to fall currently beyond 200 days EMA. Let us see who given in first. Very interesting tussle going on between FIIs and DIIs + Retail investors combination. Shadow of the candle for tomorrow is neutral to slightly positive but it is hanging by a thin thread. (Approach for long term should be cautious but positive. Approach for short term is still very cautious as we are not out of deep waters).
NSE:NIFTY
by Happy_Candles_Investment
Nifty Short, Medium & Long Term : 28-Oct-24 to 01-Nov-24Nifty Short, Medium & Long Term : 28-Oct-24 to 01-Nov-24 Nifty closed at 24192 (Last week 24854) and touched high & low of 25971-24197 RSI ,Macd and stochastics levels are down to the bottom. market Broke the key short term support at 24560 and went down. Last week Market was down as expected by more than 700 points but slightly recovered on last day of trading of the week similar to previous week. FII pulled out money and investing in China, Japan in Oct 2024. Indian Stock Valuation after Q2 results, Middle East tension are the reason for the fall. Caution was emphasized on Nifty for last 4 months as nifty PE ( Currently 22.8) is in high level with high valuation especially in Mid cap & Small Cap. Mutual Funds SIP shall be invested as the goal is for more than 5-10 years at this critical period as the valuation is high and advised those with lesser risk can sell partial portfolio ( 20-30%) stocks which have less valuation and can wait for opportunity to buy when nifty dips upto 22800. Fundamentally good stocks to be invested at these time. My Stock Pick will be provided in this week. Nifty 24854 Short term ( Short Term : Neutral) Nifty short term resistance 24450 & 25365 Support at 24000, 23885 Medium Term next target is 25750 ( if move up decisively above next target is 25370), 26268 ( all time high), 26968 Medium term Support 22800. Long Term : Nifty have a target of 27740, 28000 & 28190 ( Fibonacci Resistance). Support at 21900
NSE:NIFTY
by karthikss
NIFTY : Trading Levels and Plan for 28-Oct-2024Nifty Trading Plan for 28-Oct-2024 **Previous Day Recap**: Nifty experienced volatility yesterday, with a downward bias. Major support levels held around the **24080-24100** mark, indicating potential buying interest. However, resistance levels remain active, with **24,276** serving as a pivot zone. For today, trends are illustrated as follows: - **Yellow** trend signifies a sideways market. - **Green** trend indicates a bullish outlook. - **Red** trend reflects a bearish sentiment. Opening Scenarios for 28-Oct-2024 Gap Up Opening (+100 points or more) If Nifty opens with a gap up of 100+ points: - Immediate resistance can be seen at **24,276**. A break above this may push the index towards the **24,392** level, which acts as the Last Resistance for Intraday . - Consider booking profits if Nifty approaches the **24,531 - 24,589** zone (highlighted as Profit Booking Zone ) as sellers might attempt to re-enter. - If resistance at **24,276** holds and shows weakness, expect a potential pullback towards **24,143** for support. Flat Opening In case of a flat opening near **24,210**: - Initial support is at **24,191**, followed by a stronger base around **24,143**. - If Nifty moves up from these levels, the next resistance can be expected at **24,276**. Watch closely for consolidation in this area, as a breakout could trigger a rally toward **24,392**. - A failure to hold support at **24,143** could signal a downtrend, targeting **23,998** and below. Gap Down Opening (-100 points or more) For a gap down opening of -100 points or more: - Initial support will likely emerge around **23,998**. If this holds, a bounce is expected toward **24,143**. - If **23,998** breaks, the next significant support level sits at **23,740**, marked as the Possible Bottom Zone for Current Trend . This is a critical level; a breach could lead to a deeper correction towards **23,590**. - A recovery from this lower level may indicate reversal buying, ideal for intraday long positions up to **24,086**. Risk Management Tips for Options Trading: - Always define your stop-loss levels based on the nearest support/resistance zones to manage risk effectively. - Avoid aggressive positions in high-volatility scenarios like gap openings. Start small and scale up if the trend confirms. - Be cautious of time decay when trading options, especially if the price is near critical support or resistance zones. - Consider hedging positions if holding overnight, given the volatility in global markets. Summary and Conclusion For 28th October 2024, key zones to watch are **24,276** on the upside and **23,998** on the downside. A breakout or breakdown from these levels could determine the day’s trend. Remember that the market may consolidate before choosing a direction, and it’s wise to wait for confirmation at these levels before entering trades. Disclaimer: I am not a SEBI-registered analyst. This analysis is for educational purposes only. Always consult a financial advisor before making any trading decisions.
NSE:NIFTYLong
by LiveTradingBox
#Nifty50 outlook for upcoming week 28-1st Nov 2024. Nifty Nosedives! This week, the Nifty took a dramatic plunge, closing a hefty 700 points down from the previous week at 24,180. The bulls fought valiantly, pushing the index to a high of 24,978, but the bears ultimately prevailed, dragging it down to a low of 24,073. Key Levels Breached and Tested: My predicted range for the Nifty this week (25,550 - 24,350) was unfortunately shattered on the downside. Furthermore, the critical support level of WEMA21 was breached for the first time since October 2023, a potentially bearish sign. Is a Short Squeeze Brewing? With many retail investors now anticipating a continued downtrend, a counter-intuitive uptrend might be on the horizon. This could be a strategic move by the bulls to trap those who are shorting the market. Next Week's Crucial Levels: Buckle up, because next week is a pivotal one for the Nifty. If the index can defend the crucial support zone of 23,900-24,000, we might witness a surge testing resistance levels around 24,500-24,600. However, a breach below 23,900 opens the door for a further decline towards 23,600 and even the psychologically important 200-day moving average (23,500). This is where I, for one, will be getting "greedy" by considering adding Niftybees and some fundamentally strong stocks with favorable risk-reward ratios. Remember the age-old wisdom: "Be fearful when others are greedy, and be greedy when others are fearful." The time to be greedy for value might be just around the corner! S&P 500: Holding the Line (for Now): Across the pond, the S&P 500 failed to surpass its previous week's high of 5,878 and experienced a correction of more than 1.5% from its weekly peak of 5,866. The silver lining? It managed to hold above the crucial support level of 5,762. The upcoming week will be critical as well. If the S&P 500 can maintain a position above 5,863, it could potentially surge towards a significant Fibonacci retracement level of 6,013, which could also provide a positive tailwind for the Indian markets. However, a dip below 5,700 could trigger a correction ranging from 1.6% to 3.3%, potentially dragging the Nifty down with it. Wishing everyone a very happy & prosperous Diwali. Enjoy
NSE:NIFTY
by ssudhirsharma11
Bank Nifty Long - Riding the Wave • Technical Analysis: • Trend Analysis: The Bank Nifty has been showing a robust upward trend, consistently forming higher highs and higher lows over the past month. • Support Levels: The index recently bounced off a significant support level, confirming strength in the ongoing trend. • Moving Averages: Bank Nifty is trading above both its 50-day and 200-day moving averages, a strong indicator of continued bullish momentum. • RSI & MACD: Both the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) show bullish divergences, indicating that the upward movement has room to continue. The decision to go long on Bank Nifty was driven by strong technical signals and positive economic fundamentals. This position is intended to capitalize on the potential upward trajectory forecasted by both market sentiment and statistical indicators. I will be monitoring this position closely and plan to adjust my stop-loss and take profit points as the market evolves. #BankNifty #LongPosition #TradingView #MarketAnalysis
NSE:BANKNIFTYLong
by parthvparikh
Bank Nifty Long - Riding the Wave Last Friday, I initiated a long position on Bank Nifty, anticipating a bullish trend driven by a combination of positive economic indicators and sector-specific momentum. This analysis will break down the strategic reasoning behind this decision, supported by technical indicators and market sentiment. Trend Analysis: The Bank Nifty has been showing a robust upward trend, consistently forming higher highs and higher lows over the past month. • Support Levels: The index recently bounced off a significant support level, confirming strength in the ongoing trend. • Moving Averages: Bank Nifty is trading above both its 50-day and 200-day moving averages, a strong indicator of continued bullish momentum. • RSI & MACD: Both the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) show bullish divergences, indicating that the upward movement has room to continue.
NSE:BANKNIFTYLong
by parthvparikh
Today we received first signals of bottom formation. Today Nifty gave first indication of bottom formation after a long time. Will the bottom hold is a question which only time can answer. Nifty staged good recovery of 107 points from the day's low that was a positive sign. MMI (Market mood index) for Nifty on Ticker tape shows that Nifty is currently in the Extreme Fear zone of 26.5. Usually good money is made when you buy in extreme fear zone and sell in extreme greed zone. The supports for Nifty for the next week remain at 24102, 24703, 23366 and 22821. Resistances for Nifty for the next week remain at 24408, 24547, 24714, 24996 and 25338. Above 25338 Bulls can come back into full action mode and can take Nifty towards 25656 in the best case scenario. The Critical Mother and Father resistance for the hourly chart are at 24547 and 24966. Critical Mid channel resistance is near 25338. Channel Bottom support is in the zone of 24102 to 24072. To know more about Parallel channel and my Mother, Father and Small child theory read my book The Happy Candles Way to Wealth creation available on Amazon in Kindle and Paper back version. You will learn a lot about Fundamental analysis, Candle Sticks analytics, Profit booking and behavioural finance from the book. The book is currently one of the highest rated books on Amazon in the financial analysis and strategy category. I assure you it will be worth every money spent. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Another day another weak show by Nifty. Nifty again could not sustain the highs of the day and ended up in the negative. Nifty on an hourly chart is spiralling downwards in a downward parallel channel. Every bounce even if it is a small one is seen as an opportunity to sell specially by the FIIs. Even today the signs or signals for bottom formation are not visible. To know more about a parallel channel do read my book the Happy Candles Way to Wealth Creation available on Amazon in paperback and Kindle version. One thing is for sure upward curve also starts out of nowhere just like the downward slide started out of nowhere so there is no need to sweat about it as the Macros for India remain healthy. Dollar index gaining more and more strength is a sign of concern however. Once the Dollar starts to relent we will see a better performance from many sectors. RSI of Dollar index is just starting to touch the overbought zone. Nifty supports remain at 24370, 24149, 23806 and finally 23111. Resistance levels for Nifty remain at 24592, 24757 and 25069 levels. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
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
Very weak candle more pain may be in store for Nifty. Today we saw a confirmation of a pattern similar to head and shoulders pattern. The pattern is not exactly the classic head and shoulder but it is similar which can yield similar break down results meaning more pain might be in store if next 2 support levels are broken. The low of August 5 that is 24055 will be vital zone for Nifty to take support and make a comeback. There are 2 weak supports before we reach that level. These supports are near support previous to that at 24407 and 24113. If by chance 24055 is broken the next support is there near 23811 followed by 200 days EMA (Father line) at 23428. Below this level there is pure bear territory as this chart is drawn on daily candle sticks. On the upper side the resistances that Nifty will now face are at 24711 (Strong resistance along with a trend line resistance). If this resistance will be crossed the next resistance is at 24879. By chance we get a closing above this level Mid channel resistance and Mother line resistance of 50 days EMA awaits us near 24995 and 25231 respectively. The Macros of Israel Vs Iran++, US Elections and China stimulus are the major factors affecting FII outflow. Indian Growth story remains intact sectoral churning near the bottom is a real possibility. Overbought sectors of Defense and PSU in addition to some Mid and Small caps are taking most of the beating. At some point their PE will become attractive and at some point their dividend yield will also attract investors. whether that point has arrived or will arrive soon is yet to be known. There are no signals of bottom formation as of now and Shadow of the candle remains negative.
NSE:NIFTY
by Happy_Candles_Investment
1
Nifty Intraday 23 Oct 2024 Levels for SellingToday Nifty made new low and following price action on every timeframe. For good risk reward if price starts moving upwards and taking reversal near 24600, then we can go for sell trade. For Followup trade, any 5 min candle close below 24445 then also we can go for sell trade. Note : Its just an analysis, wait for the price to confirm. Disclaimer : Always follow risk to reward, this is the only key to success in market, no matter how much good a trade is looking we never know the future.
NSE:NIFTYShort
by smrgrover2