16400 is too hot right now to cross. After multiple occasions and multiple tries still NIFTY is not able to hold above 16400 level. Any positive move towards 16768 or 17391 will happen only if the levels of 16400 and 16492 are crossed on a daily closing. Support and resistance levels are as under:
Resistance levels: 16400, 16492, 16664 and finally the mega resistance zone of 16778-16916 zone.
Support Levels: 16198, 16131, 16000. The range between 15886 to 15700 is a mega support zone.
Niftyindia
Nifty Intraday Trade Setup for 23rd May 22 (Trading Idea)Let me know if you have any questions in the comment
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Nifty Analysis/Prediction for Monday 23-05-2022NSE:NIFTY Analysis/Prediction for Monday 23-05-2022
For flat Opening
🟢 Buy CE, If price closes above 16300
👉 Target-1 should be 16400
👉 Target-2 should be 16600
🔴 Buy PE, if price closes Below 16070
👉 Target should be 15700
For Gap-Up Strategy
🟢 Buy CE, If price closes above 16400
👉 Target should be 16600
🔴 Buy PE, if price closes Below 16250
👉 Target should be 16110
For Gap-Down Strategy
🟢 Avoid CE
🔴 Buy PE Near 16050
👉 Target should be 15700
If price sustain below 15700 can see the fall till 15050.
NIfty 16260 say trendline breakout on future, RSI and MFI. Hold / add hedged longs above 16250, breakout on price, RSI and MFI too. Significant improvement in breadth too.
There may not be sharp up move on fuel price cut and other inflation control measures, but high probability it will strengthen Auto stocks further. Keep an eye on that space.
Hedged positions only, Friday low strict stop loss even for hedged positions.
Nifty Analysis/Prediction for Upcoming Week 23-27 May-2022NSE:NIFTY
Analysis for Upcoming Week
Creating Reversal Pattern "W"
16400 is Breakout Level If 1 hour candle closes above 16400,
You can buy one lot of monthly Call Option till 16800 with the Stop Loss of 16340.
Note : The analysis is only for educational purpose, please consult you financial adviser before taking any trade.
Nifty Analysis/Prediction for tomorrow 20-05-2022 (Friday)NSE:NIFTY
For flat Opening
🟢 Avoid CE
🔴 Buy PE, if price closes Below 15730
👉 Target should be 15550
For Gap-Up Strategy (below 16320)
🟢 Buy CE, If price closes above 15920
👉 Target should be 16020
🔴 Buy PE, if price closes Below 15775
👉 Target should be 15550
For Gap-Down Strategy (Below 15700)
🟢🔴 Avoid Trading
What to expect from this fall - NIFTY50 (Indian index)After today's gap down nifty back to range of 16000 resistance and 15650 support zone
Day trader will look to trade between this range on 400-500 pts.
15880-15850 to 15760-1730 will be the mid short range
Reversal can be considered only when the 100 Ema on hourly chart will be crossed and closed above (as per my analysis)
Will update further levels of the price goes beyond given levels
Share your opinion views in comment and if you like me to review any of your stock send the names in comment
NIFTY lost momentum fell from 16.4K to 16.24K. Signals weakness.NIFTY Strongly rejected the levels of 16400 days high and ended close to 160 points lower. This is a bad sign for the short term. As the rally could not sustain and lost steam and momentum is gone bottom will be tested again. It will be difficult for NIFTY to hold 16K levels tomorrow. If NIFTY hold 16K levels by the end of the day tomorrow. There will be a positive momentum back in the favor of bulls and Friday or Next week Nifty will try to push forward again. However if 16000 level is broken the pressure will be on 15800 to hold the ground. If 15800 level will be lost we will see 15.5K or even 15/14.8K on NIFTY. So tomorrow will be a very critical day.
Although lot of new investors would not have seen such volatility those who have seen lot of Bull and Bear markets will tell you that at the bottom and at the top such volatility is common. It is only through this churn that NIFTY will identify a firm bottom / a firm foundation for the next bull run.
Short Term View: Neutral to Bearish (14800 to 16700).
Medium Term View: Neutral (14800 to 17600).
Long Term target (2022 Oct-Nov to 2023 January-March) = 19.3K+
Nifty Analysis/Prediction for Expiry Day 19-05-2022 (Thursday)NSE:NIFTY
For flat Opening
🟢 Buy CE, if price closes above 16320
👉 Target should be 16403,16480
🔴 Buy PE, if price closes Below 16220
👉 Target should be 16130
For Gap-Up Strategy (below 16320)
🟢 Buy CE, Near 16260
👉 Target should be 16403,16480
🔴 Avoid PE
For Gap-Down Strategy (Below 16225)
🟢 Buy CE, Near 16125
🔴 Buy PE, If price closes 16120 (with less QTY)
👉 Target will be 16000
solid Consolidation of NIFTY going on. Since last three days Nifty has taken solid support at near 15800 levels. However the levels of 15900 has been proving to be a tough level to conquer. The downward channel started since April end on hourly chart will be broken if the Nifty is able to sustain above the levels of 15900+ and go towards 16K. Supports and resistances on the way are as under:
Support Levels on the lower side are: 15800, 15734, 15507.
Resistance levels on upper side are : 15967, 16080, 16144, 16373 and very strong resistances at 16478 and 16761.
Support breached but where would carnage stop on Nifty? Nifty finally breached 7 months old downside channel towards south which indicates more furious sell-off in coming weeks. Since last few weeks, 15900 was acting as a strong support on the indices but on Friday we have closed below the support indicating more weakness. So were would this carnage end for the bulls? The market always of probabilities in answer and so I have this time too. Checking on Elliot wave, I feel we are into corrective wave C which could end now either at 15450 (considering Wave A=Wave C) or at 14800 (considering Wave C= 123.6% of Wave A). Though chances of taking support at 15450 are little bit brighter because it coincides with other EW guideline which states that corrective WAVE shouldn't trade below motive wave 1's high which is 15431. Please note that its just a guideline and Nifty could even test the second possibility so trade accordingly.
P.S. Sell on rise still considerable for short term traders with SL at 16500.
Market Outlook 16th to 20th May 2022.Nifty opened gap up today at 15977 just short of 16K. Went on to make a high of 16083 but could not sustain the levels amongst the selling pressure and ended negative at 15782. This indicates there is excessive fear in the market and selling pressure on every rise. The market mood index MMI measure of Excessive fear, fear, greed and excessive greed indicates that we are in the excessive fear zone. Buying during these times may create wealth for long term investors. The support and the Resistance zones are as under:
The Support Zones: 15734, 15671, 15507 (This is the final support, Nifty breaking that is highly unlikely but below these levels we can see a free fall to 15052 to 14484).
The Resistance Zones: 16083, 16235, 16484, 16819 and 16964.
Positive divergence in Nifty on hourly charts.There is a Positive divergence on NIFTY hourly chart which can take NIFTY to close in green tomorrow if it is able to cross the important resistance of 16202.
Other support and resistances are:
Supports: 16161, 15994 and 15902 and 15820.
Resistances: 16202, 16216, 16279, 16320 and 16402.
Mid Week Nifty trying to form a bottom. Very week close for NIFTY this afternoon. Nifty was not able to sustain 16400 levels Nifty ended the day at 16249. Market is slowly going right into the hand of bears. Unless there is some very positive news it looks like market will stay range bound or negative. Unless it has formed a bottom which looks likely near 16100-16130 range.
Important Resistance levels will be: 16424, 16639 and 16847.
Important Support Levels: 16130, 15994 and 15671.
Support for Nifty might be round the corner. (Weekly Outlook)It was a bad week for NIFTY all hopes of recovery vanished as NIFTY could not sustain above 200 EMA after failing to sustain above 50 days EMA last week. NIFTY is trapped in a downward parallel channel currently having broken even the mid channel support levels from where NIFTY can turn upwards now are at.
Important Support Levels for NIFTY will be: 16340, 16135 (key support), 16009 and finally 15500 (Channel bottom).
Important Resistance levels for NIFTY will be: 16484, 16616, 16858 and 17072.
Nifty is in down trendPrimary Trend for a week on a 15 min time frame is uptrend. But last 1 one hour of previous trading day there was a huge selling. Nifty has fallen about 300 points and closed at 17111.06 that is below near weekly pivot of 17102.55.
Nifty is trading between 16800 to 17400 for 2 weeks. Everytime it broken 17000 on lower side it took support around 16800 to 16900 and bounced back to 17000. In previous fall there was a support around these levels that's holding the nifty from falling.
Because of weakness in global markets SGX nifty indicating open gapdown about 200points at 16900. That is Far below daily pivot of 17177.82 and weekly pivot of 1722.97
Pure Bearish form of NiftyHere I am mentioning 3 possibilities for Nifty 50.
Scenario 1: if Nifty breaks down to 16400 - 16300 to reverse, then it is an Inverse Head and Shoulders.
Scenario 2: Nifty May drop to 15500 around to form a double bottom on weekly and then reverse.
Scenario 3: This is worst of all, if nifty drops to 14200 then it confirms a Megaphone pattern.
Overall Nifty is in the corrective territory.
NIFTY just below 50days EMA. If 50 EMA broken expect more +ve As the NIFTY has closed just below 50 days EMA. Once the 50 days EMA is crossed. We can expect rally to continue. Ideal situation will be NIFTY opens gap up above the resistance.
Important resistance levels will be: 17254, 17423, 17666.
Important Support levels: 17074, 16960 and 16862.
Strong Closing of Nifty today but 50 EMA resistance ahead.Today Nifty had a solid closing where it rose 246.85 points and 1.46%. What lies ahead is an important resistance which can become an hindrance. That hindrance is 50 days EMA is at 17264. If that is able to cross this important resistance then further levels will be:
Resistance levels: 17384, 17607, 17858
If we are not able to cross 50 days EMA the support levels will be at : 17044, 16995, 16856.
Below 16850 closing Bears will take over the market once again.