NIFTY INTRADAY LEVELS FOR 28/08/2024BUY ABOVE - 25030
SL - 24970
TARGETS - 25080,25160,25240
SELL BELOW - 24970
SL - 25030
TARGETS - 24900,24850,24780
NO TRADE ZONE - 24970 to 25030
Previous Day High - 25080
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.
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Nifty50
NIFTY INTRADAY LEVELS FOR 27/08/2024BUY ABOVE - 25030
SL - 24970
TARGETS - 25080,25160,25240
SELL BELOW - 24970
SL - 25030
TARGETS - 24900,24850,24780
NO TRADE ZONE - 24970 to 25030
Previous Day High - 25030
Previous Day Low - 24850
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 Podcast 26 Aug 2024Again on NIFTY, took only 1 trade with Gap up/down strategy.
1:1 target achieved right away in the second candle itself.
Notes:
- Closed early due to peer pressure of reaching or closing the targets. Next time, will mute all groups or channels to focus on the trade itself.
- There was another entry based on podcast strategy, but neither it hit the target nor it hit the stoploss. Second trade can always be debit spread or credit spread to avoid loss in the decay in the premiums of naked buying options.
NIFTY INTRADAY LEVELS FOR 26/08/2024BUY ABOVE - 24850
SL - 24780
TARGETS - 24900,24960,25020
SELL BELOW - 24780
SL - 24850
TARGETS - 24740,24700,24660
NO TRADE ZONE - 24780 to 24850
Previous Day High - 24850
Previous Day Low - 24780
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 next week 26-30th Aug 2024Nifty surged nearly 300 points last week, closing at 24,823. It reached a high of 24,867 and a low of 24,522. As predicted, Nifty remained within its 25,200-23,900 range.
For the coming week, I anticipate a Nifty range of 25,500 to 24,200. Breaking these levels could trigger significant market movements. If Nifty closes above the strong resistance of 24,860 this week, it could pave the way for levels like 25,500 and 25,800 in the near future. However, Monday's opening is crucial. If it equals the daily high or reaches 24,825, bearish sentiment might return, potentially leading to support levels at 24,625, 24,486, 24,346, and 24,200 being tested.
Meanwhile, the S&P 500 closed at 5,634, up 70 points from the previous week. Interestingly, it closed right at the important Fibonacci level of 5,637. If it can close above this level for two consecutive days, the path to 5,700, 5,806, and even 6,142 could be open, potentially benefiting Indian markets as well.
Hi-Tech PipesHi-Tech Pipes: potential for swing trade.
1) 6 month base, broken out with good volume, now falling on low volume.
2) High Relative strength Vs #CNX500
3) Wait for bullish price action and volume confirmation around 170
4) Reasonably good earnings on past quarters
5) FII holding increased
6) Good DII holding
Medium Term Nifty Outlook. 24869 proving to be strong resistance for Nifty. If this range is crossed the next resistance will be near 24949 and previous high of 25078. The major support zone is between 24657 and 24738. Right now Nifty is sandwiched between this zone and major move can be seen only after we get a closing above or below these two levels. The top of the trend seems to be near the previous high of Nifty that is 25078. If and when we get a closing above 25078 (Weekly closing). The next target which is also a channel top for Nifty will be near 25411. If we get a closing below 24657 the next major supports will be near 24437, 24120 and finally 23893. Below 23893 there will be weakness and bears can take over the market. Shadow of the candle right not is slightly green in colour (positive).
#WOCKPHARMA#WOCKPHARMA:
1) Up trend paused and created a base, Price approaching break out region.
2) High Relative strength Vs #CNX500
3) From leading sector - Pharma
4) Consolidating near break out region.
5) Decent Fundamentals
6) promotor / FII holding increased slightly
7) Good candidate for swing trade
Tata TechEnter NSE:TATATECH at CMP, with an SL of 1010.
It seems that this gem from the Tata Sons empire is on the verge of an up-move in the coming weeks.
Those willing to hold it for longer horizons may hold it till a close below 971.4, post which must take an exit.
The formation of a reversal pattern post a prolonged downtrend, along with presence of a valid trendline with upto 4 touchpoints, makes this a significant breakout.
This may also be a good time to allocate to this stock, from a longer term standpoint.
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This is for illustrative purposes only. Do not construe this as investment advice
Nifty at mid channel support trying to cool down RSI. Nifty is currently resting on the mid channel support and is trying to cool down overheated RSI. This consolidation is necessary before it can march further. Earlier in the day RSI had reached over heated zone of 75+. Currently the RSI has cooled down to 67.89. Further consolidation will be good for the market before it's next leap towards 25K+ again. The new channel top seems to be near 25.41K. In the medium to long run the Nifty has potential to reach anywhere between 25.8K to 26.32K within this year or within this financial year.
Supports for Nifty currently are near: 24738, 24652, 24601 and 24409. 23893 will be a critical support closing below which the Nifty rally can turn bearish.
Resistances For Nifty on the upper side are at: 24869, 24949, 25078 and finally Channel top resistance near 25411. Closing above 25411 will open our gates for new target which can be anywhere between 25.8K to 26.32K.
NIFTY Podcast 22 Aug 2024Total 2 trades were taken today.
1st trade was based on Gapup/down strategy with R:R of 1. Although the outcome wasn't in the trade's favor, so closed along with the second trade.
2nd trade was on Podcast levels, the OI data was negative and there was huge Call writer on 28500 CE side, so took the trade with R:R of 1. Closed the trade with profit of only 3 points, but based on position sizing had taken with 4 lots.
Notes:
- Instead of Naked buying, Credit Spread would have worked in the favor for the 1st trade as today was the expiry of Nifty.
Combination of Fibonacci and trend lines and Parallel Channel. We will try to look at Nifty with the combination of Fibonacci, Parallel Channel and Trend lines and few other parameters to get the outlook for short to medium term on Nifty. Combination of various parameters mentioned above indicate that Door For Nifty reaching 26K+ within this year might have already opened. Various resistances on the way will be at 24783, 24874 followed by strong resistance of the previous high of 25078. Once we get a weekly or a monthly closing above 25078 the next resistances will be at 25410, 25839 and finally 26321 (Within this year or within this financial year). Supports for Nifty will be at 24643, 24517, 24324 and finally 24115. Below 24115 the final support for Nifty will be at 23893. Below this level the bull rally will be over and bears can take control of the market.
NIFTY INTRADAY LEVELS FOR 22 AUG 2024BUY ABOVE - 24780
SL - 24740
TARGETS - 24850,24900,24960
SELL BELOW - 24660
SL - 24700
TARGETS - 24600,24530,24460
NO TRADE ZONE - 24660 to 24780
Previous Day High - 24780
Previous Day Low - 24660
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 👍
TRITURBINE: Swing Long Idea#TRITURBINE: Is potential Long candidate for swing trade.
1) After a Good up trend paused and created a base, Now price approaching for break our region.
2) High Relative strength Vs #CNX500
3) Good AS Rating
4) Volume picking Up substantially as moving up.
5) Decent Fundamentals
6) Good FII & DII holding
7) Given a Break out and retesting. Buy zone 680 -690 wait for bullish price action around that zone. no overhead supply
8) Expected Target Base depth (162 + 676 = 838)
9) Keep 8% SL
Gap generated on 5th August Finally Filled today. Gap generated due to gap down opening of 5th August is finally filled today. It is not necessary that all gaps either on the way up or on the way down are filled every time. As there are different type of gaps and different timings of gaps / intervals etc there are many factors which create loop holes in the gap theory. We will discuss that some other time. Gap Theory is a subject in itself. The supports for Nifty now are at 24517, 24324 and finally 24088. Resistances for Nifty in the short to medium term are at 24736, 24857, 24950 and 25080.
NIFTY INTRADAY LEVELS FOR 20/08/2024BUY ABOVE - 24600
SL - 24530
TARGETS - 24660,24710,24780
SELL BELOW - 24530
SL - 24600
TARGETS - 24460,24380,24320
NO TRADE ZONE - 24530 to 24600
Previous Day High - 24660
Previous Day Low - 24530
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 19 AUG 2024BUY ABOVE - 24590
SL - 24530
TARGETS - 24660,24710,24780
SELL BELOW - 24530
SL - 24590
TARGETS - 24460,24380,24320
NO TRADE ZONE - 24530 to 24590
Previous Day High - 24590
Previous Day Low - 24200
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 👍
Rising wedge pattern at a (15 mins) lower time frameTechnical:
1) A rising wedge pattern was formed from 5th August until today.
2) At 3 pm today, a bullish candle crossed the upper trendline.
3) The following candle successfully sustained above the trendline.
4) Building on my previous Nifty idea on 06th Aug'24, the Nifty is still holding above the rising wedge trendline on a higher time frame
Please consider these points for educational purposes and let me know if anything can be added or modified technically.
NIFTY INTRADAY LEVELS FOR 16/08/2024BUY ABOVE - 24200
SL - 24110
TARGETS - 24270,24320,24380
SELL BELOW - 24110
SL - 24200
TARGETS - 24010,23900,23800
NO TRADE ZONE - 24110 to 24200
Previous Day High - 24200
Previous Day Low - 24110
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 👍