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Beyond Technical Analysis

BANKNIFTY : Trading Levels and Plan for 07-Nov-2024Intro: On the previous trading day, Bank Nifty exhibited a sideways trend in the zone that highlighted in yesterday's day plan and could not break that range, reaching resistance levels but pulling back slightly. The chart shows key zones for profit booking at 52,900 , opening resistance around 52,534 , and opening support at 52,109 . The price action at these levels will determine the trend continuation or possible reversal. Yellow lines indicate a sideways trend, green lines indicate bullish momentum, and red lines highlight potential bearish scenarios. Opening Scenarios: Gap Up Opening (200+ Points Above): If Bank Nifty opens above 52,534 , watch for resistance around the 52,758 - 52,900 profit booking zone. A strong breakout above 52,900 can signal bullish continuation, providing entry opportunities for a quick upside trade with a stop-loss below 52,534 . However, if the index faces resistance at this level, a pullback may ensue, suggesting a reversal towards the opening support at 52,109 . In this scenario, cautious long trades are advisable, targeting small profits while trailing the stop-loss. Flat Opening: If Bank Nifty opens around 52,384 , the opening resistance at 52,534 and support at 52,109 become critical zones. Price behavior around these levels will guide the trend: A break above 52,534 could lead to a test of the profit booking zone ( 52,758 - 52,900 ). A rejection at 52,534 can lead to a sideways trend, likely oscillating between 52,534 and 52,109 . Consider quick scalping trades with limited risk here. If the price moves below 52,109 , expect a potential downward move, aiming for the buyer's support at 51,676 . Gap Down Opening (200+ Points Below): In the event of a gap-down opening near or below 52,109 , Bank Nifty may seek support at 51,676 . Observe if it finds stability here to confirm a buying opportunity for a potential rebound. If 51,676 fails to hold, Bank Nifty may trend lower, with bearish momentum potentially extending to the lower support zone. Conversely, a recovery above 52,109 could lead to a pullback rally towards 52,534 , presenting a quick rebound trade opportunity. Risk Management Tips for Options Trading: Use defined stop-losses based on support/resistance levels ( 52,534 , 52,109 , 51,676 ) to manage risk. Avoid overleveraging, particularly during high volatility zones. Consider deploying options strategies (e.g., spreads) to reduce premium costs and manage risk exposure. Trail stop-losses as the price moves favorably to lock in profits. Summary and Conclusion: The key levels for Bank Nifty on 07-Nov-2024 are 52,534 (opening resistance), 52,109 (opening support), and 51,676 (buyer’s support). Monitor these zones for potential reversals or breakouts. Follow risk management guidelines strictly, particularly in options trading, to safeguard against adverse moves. Disclaimer: I am not a SEBI-registered analyst. The analysis and trading levels shared are based on technical patterns and personal views. Traders are advised to perform their due diligence or consult with a financial advisor before taking any trading action.
NSE:BANKNIFTY
by LiveTradingBox
Market Outlook: Nifty 50 - Navigating Geopolitical TensionsCurrent Technical Analysis: As of the latest market open, the Nifty 50 index has started at 24,320, and we are expecting a potential downward correction to the 24,220 level. If this initial support level holds, we could see a retracement to higher levels. However, should the market fail to reverse from this point, there is a risk of further downside pressure, which may push the index below 24,000. The critical resistance for the Nifty lies near the 24,500 zone. A break above this level could pave the way for a potential rally towards the 25,000 mark. The market's reaction to these key levels will be crucial in determining the next medium-term direction. Key Technical Levels: Support: 24,220 (Short-term support) Immediate Resistance: 24,500 Key Resistance for Bullish Momentum: 25,000 Bearish Target if Downtrend Resumes: Below 24,000 Geopolitical Factors: Global geopolitical tensions, particularly in Eastern Europe and the Middle East, have the potential to impact risk sentiment in emerging markets like India. Rising energy prices, supply chain disruptions, and investor risk-off sentiment could continue to put downward pressure on equities. In the Indian context, ongoing political developments, especially regarding the Maharashtra state elections, could also add volatility to the local market. Any surprises or shifts in state-level governance could have a ripple effect on investor confidence, potentially influencing market sentiment in the short term. Indian State Elections (Maharashtra): Electoral Outcomes: The Maharashtra state elections will be a key event, with results likely to influence market sentiment, particularly in the political and economic outlook. If the ruling party maintains control, the market could react positively due to continuity in policies. However, a shift in power could lead to uncertainty, especially in policy decisions around state-level economic initiatives, infrastructure spending, and governance. Investor Sentiment: Political stability is a significant driver for local markets, and any uncertainty could dampen investor confidence in the short term, particularly in sectors like real estate, construction, and infrastructure, which are sensitive to regional political outcomes. Fed Rate Cut Policy: The Federal Reserve's stance on interest rates will continue to be a pivotal factor in global equity markets. If the Fed proceeds with further rate cuts, it may create a risk-on environment globally, which could spill over into emerging markets, including India. A rate cut would reduce the cost of borrowing, encouraging investment flows into equities, potentially providing a cushion for the Indian market. However, inflationary concerns and economic slowdown risks in major economies could complicate the Fed's rate policy. Any signs of economic weakness in the U.S. could lead to reduced investor confidence globally, putting pressure on equity markets. Inflation and Global Growth Concerns: U.S. Inflation: Despite the potential for rate cuts, inflation in the U.S. remains a key risk. If inflation proves more persistent than anticipated, the Fed may pause its rate cuts or even increase rates again, which could dampen global risk sentiment. China's Economic Slowdown: Additionally, China's ongoing economic challenges, including slowdown in industrial growth and real estate sector issues, could have a spillover effect on global markets, particularly in Asia. Outlook for Indian Markets: Short-term Bearish View: If the Nifty fails to hold above 24,220 and shows further weakness, the index may test the psychological level of 24,000. In this scenario, investors may prefer defensive sectors like consumer staples, pharma, and IT to weather potential volatility. Bullish Reversal Scenario: If the Nifty breaks above the 24,500 mark, there is potential for the index to reach towards 25,000, driven by positive sentiment from global policy action (e.g., a Fed rate cut). Indian sectors such as banking, automobile, and capital goods could outperform in such a scenario. Conclusion: The current market is at a crossroads, with key technical levels to watch for direction. Geopolitical uncertainties, particularly in the context of the Maharashtra elections, and global economic policy shifts (like a potential Fed rate cut) will significantly influence sentiment in the coming weeks. As always, investors should remain cautious and monitor both the local and global macroeconomic landscape closely. ------galeleo bull.......
NSE:NIFTY
by privatesparrowbs
Nasdaq and S&P500 before the electionHello, traders! I mostly post cryptos here but I also trade indices so I wanted to share my ideas. Markets are showing steady and calm movements as the election approaches and I think now might be a good time to watch over the indices. I often check the indices because I trade them regularly - my idea behind the trades is simple. "It will rise if it gets too low." Of course I wouldn't do the same for cryptos but I feel much more confident with the indices. Looking at my charts, I noticed the indices are now pretty close to my entry points which are bottom (support) lines of the regression channel and the pitchfork. With the election and possible rate cut ahead this week, there's a great possibility the markets will move upwards - even regardless of the result. This is due to the excitement for the new government. I'll keep watching.
NASDAQ:IXICLong
by QJEEE
buying idea EVN with stop at 5EVN has done well at all time high. had managed to build a good base again at this level. low value share so expecting higher volatility hence trading small than usual with a 5% stop. overall market not helping with so much going on in US and China, risk management is the key! DISCLAIMER : The content and materials featured are for your information and education only and are not attended to address your particular personal requirements. The information does not constitute financial advice or recommendation and should not be considered as such.
ASX:EVNLong
by Gihanhemachandra
Bullish, but there will be selling to test all support wicks - - Price Target: Expecting price to reach the 1.272 Fibonacci level near 21,052.50, then retrace to find support. - Entry Point : Looking to enter long at 19,979. - Invalidation : Long bias is invalid if price falls below 19,818, especially around the 4-hour candle close. - Note on Wicks : Pre- and after-hour wicks often don’t hold up; they’re likely to get rejected. First target will be 20,788.50 and final target would be 21,388.25
CME_MINI:NQ1!Long
by DRlPPy
Trade Review - SYMI plan to be more active and share my trades and insights regularly. Information I swing trade with focus on stock with short term momentum. My trades are identified through a two-step screening process. I use a passive screener outside of market hours to manually select stocks based on structure and position, to allow preparation and prevent too many options. At market open, I run an active screener to track for movement within the watchlist, as timing and momentum in selected stocks can be unpredictable. This allows me to be time efficient, I require no more than 20-30 minutes per open session. Identified through my passive screener outside of market hours, this stock showed an initial momentum move to the upside on the daily timeframe, followed by consolidation near the mean price - a setup conducive to continuation. I occasionally check a higher timeframe (weekly) for context; in this case, it made a overextension to the downside which could follow with a pullback toward the mean (or not). The aim here isn’t to predict but to take a bet / capitalize on potential imbalances when they appear. Thus it was added to the watchlist. At market open, this stock appeared on my active scanner, and when it reached 24.60, I entered as a clear range expansion was forming. I typically scale out at 1R and hold the remaining position for a measured move (projected from the prior momentum move). While the approach is straightforward, I occasionally adjust based on real-time conditions, as seen in this example. Execution details are shown below. Trade Overview • Structure: Bullish Continuation (Daily) and Bearish Pullback (Weekly) • Position: Near mean price (Daily) and extended from mean price (Weekly). • Entry Trigger: Range Expansion Entry Details • Entry Price: 24.60 • Stop Price: 22.07 • Target Price: 34.32 • Expected Risk/Reward: 3.84 R Exit Strategy • Exit Price: Closed 50% at 29.84 and 25% at 29.45. Performance Summary • Result: Price have moved 20.53% with a profit of 2R, trailing 25% with a near SL. I wrote a bit more than usual for this review since it's my first review post, but the real approach itself is quite simple. Future posts will be more concise.
NASDAQ:SYMLong
by Market-Core
Opening (IRA): MSTR Dec 20th 75/155 Short Put Vertical... for a 5.43 credit. Comments: High IVR/IV at 61.1/113.9. Doing something a little different here, selling the 10 delta short put and buying a put that cuts BPE in about half over doing a naked. Going low delta because, well, the underlying kind of scares the poo out of me. Metrics: Buying Power Effect: 74.57 Max Profit: 5.43 ROC at Max: 7.28% 50% Max: 2.72 ROC at 50% Max: 3.64 Compare: Dec 20th 155 Short Put (Cash Secured) BPE: 148.30 Max Profit: 6.65 ROC at Max: 4.48% Will generally look to take profit at 50% max.
NASDAQ:MSTRLong
by NaughtyPines
XAUUSD - AnalysisMy main trading principle is that the price always moves from swept liquidity levels to untouched liquidity levels. In particular case we clearly can see the following context: price swept 1D key liquidity level and left untouched level lower. But to take more statistically more probable trades we should wait for some time of lower timeframe confirmation. For me the best way to confirm higher timeframe context is structure. We can notice the break of market structure (sign of weakness) on key liquidity level, so there is a higher probability to see price lower at least on opposite level (marked lower). Your success is determined solely by your ability to consistently follow the same principles.
OANDA:XAUUSDShort
by Maks_Klimenko
ETH/USDT Short SetupEthereum is showing signs of reaching a local resistance level after a strong upward push. Given the market structure and recent rejection near the resistance zone, a potential short opportunity is developing. Entry: Around the current resistance at 2,700 USDT Stop Loss: Set slightly above the recent highs at 2,800 USDT to minimize risk Take Profit Zone: Looking for a pullback to the trendline support around 2,500 USDT Analysis: ETH has faced challenges in breaking above this level consistently, indicating a possible temporary top in this range. The recent volatility suggests that a correction could be on the horizon as traders lock in profits. The broader trend still holds bullish potential, so this is a cautious short position for a quick gain rather than a long-term reversal bet. Remember, this market moves quickly, so stay alert for any rapid changes. Manage your risk, and trade wisely! DYOR as always.
Short
by HedonistTrade
BTC to ~$82,500 and a decision for ChristmasWe have taken the prior ascending support line we had lost before with a strong showing on the US election results. It hasnt confirmed the old support line as support again so until we see that, it could still pull back. Assuming it regains its prior ascension line, It looks like somewhere around Christmas time BTC will have to decide between bouncing off of the very long term substantiated resistance for a potential prolonged pullback or we could break free in a fireball going to the moon. That line will be very important in differentiating which one it is. Global orderbooks also look healthy right now, growing all around and we see asks at 10% or higher have skyrocketed, that is bullish as it means most investors expect the prices to rise so they have set their limit orders to sell at a much higher price. It seems like it would be a good idea to get out of day trade holdings by the time BTC hits that $82k/$82.5k point and then if it breaks out get back in. There is the consideration of realized gains but that is expected with any trade. If we break that $82,500 it could be a parabolic run for crypto. Statistically speaking, it is probably more likely to pull back at this point so it makes a good area for profit taking. As always be vigilant and DYOR. -s
Long
by EncryptShawn
Delta Airlines: Placing A Huge Options TradeHey, guys. Not a perfect video here, but wanted to lay down an options trade I built in NYSE:DAL . I have another analysis I made on TradingView a long time back on Delta (Found here: ) and it seems like after months of brutal range trading, the stock now wants to move to higher levels. After having some already successful trades in the name, I am taking more upsized risk here and placing a big, long-term options trade on this name. I am comfortable holding these long term calls over time as I will be able to roll them down the line (unless Delta is sitting at gross levels in 2025) if they are not performing how I had hoped. I also am happy to take in a solid amount of cash while I wait. Here's to happy flights all across the country and the world! Hope you enjoy the review, and best of luck out there!
NYSE:DALLong
by redykhouse
Why Trump Won't Push Oil Prices to $50I’m not really convinced that Trump cares about oil prices being at $50 a barrel. The U.S. is the biggest oil producer out there, and at that price, a lot of oil fields are going to struggle to stay profitable because of inflation and rising costs. Plus, American oil companies can’t just devalue their currency to cushion the blow from falling prices, so I doubt Trump would intentionally drive prices down, especially since those companies backed his campaign. And let’s be real—low oil prices aren’t exactly great for Elon Musk, who was a key player in getting Trump elected. When do you think consumers are more likely to look at electric cars? When gas prices are high or low? The answer seems pretty obvious. The only thing that might push oil prices down to $50 is a looming recession in the U.S., but that’s a whole different ballgame and not really about Trump. Besides everything else, today there was noticeable activity from 'robots' in the oil market. The last time I saw this was in 2021 with oil... during Trump's last term. Coincidence?
TVC:USOIL
by ClashChartsTeam