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NIFTY trade ideas

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 : Trading Levels and Plan for 23-Oct-2024Nifty Trading Plan for 23rd October 2024 In the previous session, Nifty traded Sharply Downtrend, testing resistance at metioned levels yesterday . The market showed volatility but remained largely Bearish trend. This setup hints at a possible breakout from the current consolidation zone, with key levels to watch for both bulls and bears as the market opens on 23rd October. Gap-Up Opening (100+ Points): If Nifty opens above the 24,630 resistance, wait for confirmation of a breakout toward the next key resistance zone at 24,714. Once the price holds above 24,714, a long position can be considered with an upside target of 24,936, where strong selling pressure might emerge. Set a stop-loss below 24,630 for long trades to manage risk effectively, especially if Nifty reverses after hitting 24,714. If the breakout is false, expect a retracement back to 24,630 or even lower toward 24,555. Flat Opening: If the market opens flat near the current levels of 24,481, the immediate range to watch is 24,555 to 24,358. A breakout above 24,555 could trigger a move toward the 24,630 resistance level, where price action should be monitored for continuation or reversal. On the downside, a breakdown below 24,358 may lead to retesting the 24,298 support level, with potential to go even lower toward 24,164 if selling pressure intensifies. Place stop-losses below 24,358 for long trades, and above 24,555 for shorts to protect against sudden reversals. Gap-Down Opening (100+ Points): If Nifty opens with a gap-down below 24,358, expect increased selling pressure, with the immediate target being the 24,298 support level. If 24,298 holds as support, a reversal trade could be initiated, but it is crucial to wait for a confirmed bounce before entering long positions. If the gap-down results in a break below 24,298, watch for further declines toward the 24,164 support, where buyers may try to defend. Maintain a stop-loss below 24,298 for longs and above 24,358 for short trades to manage risk in case of sharp movements. Risk Management Tips for Options Trading: For a gap-up scenario, consider using call spreads to limit risk as Nifty approaches key resistance zones like 24,714 and 24,936. In case of a gap-down, consider put spreads or long puts to capitalize on increased downside volatility. Avoid holding naked positions, especially near high-volatility areas. Opt for limited-risk strategies like iron condors or vertical spreads to minimize losses. Be prepared to exit quickly if Nifty approaches key support or resistance zones, as sudden reversals can cause options premiums to decay rapidly. Summary & Conclusion: For 23rd October 2024, the key levels to watch are the resistance at 24,630 and support at 24,358. A gap-up could see a move toward 24,714 and 24,936, while a gap-down may bring Nifty closer to 24,298 and 24,164. Volatility is expected around these levels, and it is crucial to maintain strict stop-losses to minimize risk. In options trading, consider spread strategies to manage volatility and protect against sudden reversals. Disclaimer: I am not a SEBI registered analyst. This trading plan is based on my personal analysis using technical parameters. Traders are advised to conduct their own research or consult with a financial advisor before making any trading decisions.
NSE:NIFTY
by LiveTradingBox
NIFTY 50 KEY LEVELS FOR 23/10/2024//@description // All credit goes to Tony for the concept of this indicator. His Trading View link: www.tradingview.com // Note: The calculation method in this indicator differs from Tony's, but the concept is derived from his work. **Explanation:** This trading system helps you avoid blind trades by providing confirmation for better entries and exits. It considers volume, past prices, price range and indiavix. **Entry/Exit Points:** - **Entry/Exit Lines:** Use the BLACK line for long trades and the RED line for short trades, based on confirmation from your trading plan. - **Stop Loss:** For long trades, set the stop loss at the RED line below. For short trades, set it at the BLACK line above. - **Take Profit:** For long trades, target the next RED line above. For short trades, target the next BLACK line below. **Timeframe:** Use a 5 timeframe for trading. **Risk Disclaimer:** This setup is for educational purposes. I'm not responsible for your gains or losses. Check the chart for more details.
NSE:NIFTY
by nandupk
NIFTY S/R for 23/10/24Support and Resistance Levels: Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline. Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down. Breakouts: Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold. Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying. 20 EMA (Exponential Moving Average): Above 20 EMA(50 EMA): If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum. Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum. Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set. Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward. Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop. RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory. Combining RSI with Support and Resistance: Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal. Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset. Disclaimer: I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
NSE:NIFTY
by zenthosh
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