Nifty50priceaction
3rd Target 1.2 Fibonacci Retracement Reached & BreakoutNifty 50 after Breakout, 1st Target 0.5 Fib, 2nd Target Channel Bottom, 3rd Target 1.2 Fib Retracement. Refer this images:
Trendline Breakout, 1st Target, 2nd Target, 3rd Target
Nifty 50 Index (NSE: NIFTY) AnalysisBased on the daily chart for the Nifty 50 Index (NSE: NIFTY), here is the summary and analysis:
Key Levels:
- Current Price: 22,488.65
- 50% Retracement Level: 22,458.10
- 61.8% Retracement Level: 22,324.60
- Target Price: 23,600
Chart Analysis:
1. Upward Trend: The chart shows an overall upward trend, with the index making higher highs and higher lows.
2. Retracement: The index is currently in a retracement phase, falling from its recent high of 22,705.75. The price has retraced to the 50% Fibonacci retracement level and is approaching the 61.8% level.
3. Support Zone: The blue shaded area represents a significant support zone between the 50% and 61.8% retracement levels. This zone could provide strong support and potential for a rebound.
Potential Scenarios:
1. Bullish Scenario:
- If the index finds support at the 50% or 61.8% retracement levels and rebounds, it could continue its upward trend towards the target price of 23,600.
- Confirmation of a bullish trend would come with a strong bounce from the support zone and a move back above the previous high of 22,705.75.
2. Bearish Scenario:
- If the index breaks below the 61.8% retracement level, it could indicate a deeper correction.
- A break below this level could lead to further downside, possibly testing lower support levels not shown in the current chart.
Trading Strategy:
1. Watch for Support: Monitor the price action closely around the 50% and 61.8% retracement levels. Look for signs of a reversal or strong buying interest in this zone.
2. Buy Position: Consider entering a long position if the index shows a strong bounce from the support zone with increasing volume and bullish candlestick patterns.
3. Stop-Loss: Place a stop-loss slightly below the 61.8% retracement level to manage risk in case of a further decline.
4. Target: Aim for the target price of 23,600 for the long position.
Conclusion:
- The Nifty 50 Index is currently in a retracement phase within an overall uptrend. The 50% and 61.8% retracement levels are critical support zones to watch. A strong rebound from this zone could lead to a continuation of the upward trend towards the target of 23,600. Conversely, a break below the 61.8% level could signal further downside. Monitoring the price action and volume around these key levels will be crucial for making informed trading decisions.
Swing Trading Opportunity in NIFTY | YT Ravi's Trading DeskRefer the chart for Entry,Target and SL.
NIFTY Breakout on 30min/hourly/Daily Timeframe also Closed above 200EMA on a Hourly Timeframe which is a bullish Sign.
NOTE: This trade is only for Equity Swing buy and not to be considered for options trading.
Please do follow Position Sizing and Risk Reward Ratio while planning any trades.
Note: This information is for education purpose only and please do your own research and consult your financial advisor prior to taking any action.
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#Nifty50 expiry day trade levels #Nifty50 expiry day trade levels. Check key scalping levels at 15 minutes and 5 minutes.
NIFTY 50 - Trend Lines (8th Dec Exp)NIFTY 50
- If Candle Breaks & sustains Green line (above / Below) then the target is next green line
- If Candle Breaks & sustains Blue line (above / Below) then the target is next Blue line
Market Range
High Range: 18780 - 18920
Mid Range: 18640 - 18780
Low Range: 18500 - 18640
caution:
cannot guarantee the accuracy of the data & it's presentation
stock market investments are risky by nature so we are not responsible for
your losses or profits, and your returns will depend on
your own personal trading methods only.
Nifty 50 Intraday Trade Setup for 26th April 2022Nifty 50 Index suffered sharp losses on Monday on back of weak global cues amid concerns about aggressive monetary policy action by the US Fed. India VIX also shot up and is now back to 20+ range. However, gain in ICICI Bank on back of good results, brought back some positivity in the Banking sector. Index is now trading in the 16800-17500 range with high volatility.
INDIA 50 USD Analysis (Higher TF)
Index gave a strong closing at around 17100 levels forming a hammer candle and double bottom at support, as US markets ended a volatile day in green as government-bond yields fell. The downward momentum will continue below 16850 and will reverse above 17450 levels (Important range for the week).
INDIA 50 USD Analysis (Shorter TF - Intraday)
Index has stopped making Lower lows and formed a double bottom at 16850 levels (strong support). The pullback rally will continue above the days high of 17100 levels and will gain momentum if 17275 levels is broken and sustained, which is likely to be the immediate resistance followed by a major resistance at 17450. We will see a range bound day today as India VIX is likely to cool off.
Since SGX Nifty is trading slightly higher, we can expect a small gap up today.
NIFTY - ALERT ! IMPORTANT LEVELS TO WATCHNIFTY BUY ABOVE 14042 TGT 14071 / 14101/14131
NIFTY SELL BELOW 13983 TGT 13953/ 13924/13894
Disclaimer : Trade at your own Risk
#nifty50levels #nifty50priceaction #nifty50trend #nifty50analysisi #nifty50price_targets #nifty50tradingplans #nifty50
Nifty50: Key Support and Resistance LevelNifty50 is in strong uptrend and my personal view on Nifty is bullish medium to long-term.
However, you can expect correction soon. So, for swing traders and investors correction may provide you an opportunity to enter.
That's why you need to know from where Nifty50 might bounce back. So, I draw key diagonal Support and Resistance level.
Wait for these levels and when price rejects this price level, you may get an opportunity to make money.
Happy Trading!
NIFTY50 at important levels..#nifty50 has reached an important level i.e 11200,
Why Important - As its a level from where we had seen straight fall in nifty50.
Current Price Action Observation
Check the size of the candles of the last two rallies, most of them were indecisive candles.
Check the difference between the peaks, they are contracting.
Currently, price action, suggesting that the index is losing momentum on the upside.
Pattern
ABCD pattern is completing at 11184 levels, which aligns with price action levels - 11100 - 11200.
So what to do now?
Since the structure of the index is positive .ie higher highs and higher lows, we cannot turn bearish on the index, the only thing we can do here is to stay cautious or trade light or trail the trades, so that don't feel the FOMO.
Or
Instead of index trading, take stock specific trades, until we see some clarity as to the direction of the index,
