As predictedAs assessed price has moved lower over the week. There are plenty of scalping opportunities but for a swing trade with significant Price movement I would like to see some volatility lower first.
Indianmarket
Slightly modified AnalysisI would like to see price dip under the equal lows to bite a little deeper into the weekly +OB.
IDEA choppy PA range bound.I would like to see price drop without attacking the lows of the current range. I would then expect a drive higher. But low probability to me.
GMRWe have had a significant retracement and are at in interesting point in price. We see a strong reaction at the FVG. I would have liked to see price action of Friday take the the current high. I am still of the opinion that prices will take all time highs. But there is the possibility that the algorithm will reprice first to the OTE. However we have not had close below the 1st qtr. of the FVG. So I would ideally like to see price rally to highs this next week.
Nifty View for upcoming monthsWe can see some correction about 7-8% in upcoming days and will see some bullish momentum after postive election results
Nifty Price ActionThis is not an investment advice or recommendation, It's solely for Educational Purposes. This is the bias for Nifty for now. Market Structure is positive, will be working on the most probable setup. Expecting some retracement before continuation of the up move. Spotted this inverse head and shoulder structure. A high probability for long side trade.
NIFTY - Ready to Launch into 27000 levelsGETTEX:NSE : NIFTY
NIFTY Index since its inception in 1990 - completed Wave 1 in 2008 followed by Wave 2 with FIB approx 0.5 Fib level retracement.
Then continued wave 3 impulse wave until COVID impact with a sharp correction(retracement) to 0.382 fib level marking the completion of wave 4.
when waves 1 and 3 neither of them are extended and wave 4 retracement is only 0.382 fib level, a most likely scenario of wave 5 is extended till 1.618 FIB extension (~27100 Level)
This long-term possibility could take months to make due to macro global and political as well.
However, the current position of INDIA in the Technological and Political Landscape globally. I truly believe this possibility is a quick one to achieve.
Resistance broken after 6 years !Motilal Oswal Fin is a reputed company with steady and healthy financials. I have been tracking its move since last year (2023) and it has run up well. And now it has finally broken it's 6-year-long resistance at the 1600 level. If it takes support of this level and makes a higher top, then it might run up to 2000+ levels giving a decent but quick return of 20-25%.
Nifty50 Daily Chart Analysis as of February 23, 2024 Nifty50 Daily Chart Analysis as of February 23, 2024
Disclaimer: I am not a financial advisor and this is not financial advice. Please do your own research before making any investment decisions.
Overall:
The Nifty 50 closed at 22,213 on February 23, 2024, marginally down by 0.02% from the previous day's close.
Despite the minor dip, the index has been on an upward trajectory since February 19th, gaining around 1.3% in the last five days.
This positive movement suggests a potential bullish trend, supported by a healthy recovery from the 21-day EMA and higher highs formation.
Key Technical Indicators / Technical Analysis:
The Nifty 50 is in an overall uptrend.
Moving Averages: The Nifty 50 is currently trading above its 50-day and 200-day moving averages, indicating a possible uptrend in the near future.
Relative Strength Index (RSI): The RSI is currently at 53.8, indicating that the index is neither overbought nor oversold. This suggests that there could be further upside potential.
MACD: The MACD is currently above the signal line, indicating a bullish momentum. The MACD indicator is positive, indicating a potential continuation of the uptrend in the medium to long term.
The Nifty 50 is currently trading above its 20-day and 50-day exponential moving averages (EMAs), indicating a bullish trend.
Key observations:
The Nifty has been following a trendline since January 20, 2024, suggesting a potential upside.
The 22,150-22,200 range remains a major resistance zone, while 21,000 is a crucial support level.
A breach above 22,300 could lead to further gains towards 22,500 and 22,600.
Support and Resistance Levels:
Immediate Resistance: The immediate hurdle for the Nifty 50 is seen at 22,300, followed by 22,500.
Immediate Support: The immediate support is at 22,000, with a crucial level at 21,875, which coincides with the 20-day EMA and Thursday's low.
Expert Opinions:
Several technical analysts believe that the Nifty 50 has formed a bullish reversal pattern on the daily chart, suggesting a potential move above 22,500.
However, some experts caution that the 22,300 level could be a significant short-term obstacle and recommend waiting for a confirmation breakout before taking any aggressive positions.
Overall, the technical analysis of the Nifty 50 Daily Chart as of February 23, 2024, suggests a cautiously optimistic outlook. While the index faces some immediate hurdles, the overall trend appears to be bullish. Investors should carefully consider their risk tolerance and investment goals before making any trading decisions.
Important to remember:
This information is based on past data and should not be considered financial advice.
Market conditions can change rapidly, and it is important to do your own research before making any investment decisions.
I hope this information is helpful. Please let me know if you have any other questions.
Disclaimer: I am not a financial advisor and this information should not be considered financial advice. Please consult with a qualified financial advisor before making any investment decisions.
Happy learning with trading. Cheers!🥂
CNXFINANCE, FINNIFTY Analysis For Feb 21st!Hello Traders,
Here is a Brief Overview About The Analysis of FINNIFTY For Feb 21st,
There Are Total of 2 Support Zones Which You Need To Look For And Same 2 Resistance Zones And To Be Mentioned One Grey Area And We Have 4 Imbalance Zones!
Important Level To Be Mentioned : 20800, If it Crosses It's Trending Otherwise, Downside OR Consolidate a Bit.
The Horizontal Lines From Volume To Volume And OI To OI Indicates The Market Range in Between For That Particular Day!
The Blue Arrow Path Showing The Direction of The FINNIFTY For That Day.
Note : Those Levels Are For That Particular Day Only.
Please Note That The Only Purpose of The Information On This Page is Purely Educational.
We Are Not Registered with SEBI; Therefore, Before Making Any Financial Decisions OR Investing, Please Consult with A SEBI-Qualified Financial Advisor. We Don't Have Any Responsibility For Your Profits OR Losses.
I Would Welcome Your Participation And Support in the Form of Likes, Comments, And Follow us to Offer Some Encouragement.
Thank You.
SANDHARSandhar technologies LTD stock breakout 5 years resistance and ATH level with good volume and retest this level
This is only for educational purpose
GRANULES INDIAGranules has breakout ATH resistance level so stock has create good opportunity for swing trade
This is only for educational purpose
NUVAMA WEALTH MANAGE LTDThis stock breakout some of consolidation level so stock has been create good opportunity for swing trade and this is only for educational purpose
MFSL UPTREND MAX FINANCIAL SERVICE LIMITED.. Wait for Confirmation candle . I Mentioned that Black line ,market above close green candle . Take entry ..
BANKNIFTYBanknifty price shows tread as natural and yesterday small resistance breakout so it will go for major resistance
Arvind Ltd Swing, Short Term and Long Term Trade Idea6M chart shows a Double bottom breakout, we need to wait till December closing, aggressive investors may consider trade now. This shows a potential 100% return from here.
Monthly and weekly chart shows an all time high breakout, after 5 years of consolidation and hitting the same supply region.
This chart shows opportunity for swing and short term.
75 minutes has broken out of small consolidation zone, potentially leading to the next target zone of 185. For swing trade one may consider this.
Trade at your own risk, Happy trading!
ELECTROSTEEL CAST A 50% ROI Idea For a Mid Term HoldingThe stock has given a 15 year breakout in Yearly timeframe.
It is in strong uptrend, trading above 15 year high.
Weekly and Monthly are showing inside candles, consolidation is happening.
Entry :- Buy on each dip, for now at current market price.
Target :- 155,175,200.
ITDCThis stock breakout nearly 5 years consolidation level so create good opportunity for swing trade and only for educational purpose
CAMS cams has round pattern break outing if weekly candle closed above the resistance TGT will be ATH level
JIO FIN SERVICESThis stock breakout 5 month consolidation level with high volume and only for educational purpose
