Nifty Review and Analysis for 10th August 2021Nifty has been trading between 16200 to 16300 from last 4 trading days. On 9th August it came for selling first from 15300 to 16236 then 16265 to 16175. As I said earlier selling is expected below 16300 and below 16236 Nifty can come up to 16145 and on 9th august it came to 16175, 30 points difference.
Earlier I said that the Idea Vodafone news can affect the market but we haven't seen any movement as expected. So what happened? The day Idea Vodafone news came in, the same day or next day there was a news that Govt. of India decided to abolish Retrospective tax. If you want to know more about that just search and read.
For now resistance for Nifty is 16250, 16300 and 16350.
Support for Nifty is 16050, 16145 and 16200.
Look for these levels for 10th August 2021.
At the time of publishing this SGX Nifty is trading at 16290. Support for SGX Nifty is 16200, 16100 and 15950.
US market is Negative and rest global market is mixed.
Do your own analysis before taking any trade and trade with SL. Thank you.
Niftyindia
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Nifty Review and Analysis for 6th August 2021There was a negative pattern in Nifty which I marked for you guys in the 15 minute chart. Nifty opened 30 to 40 points up on 5th August from 4th August's closing price. Nifty opened at 16294 and from there selling came in the first 15 minute up to 16236 level, I have mentioned about these levels in my earlier post. From 11 am to 1 pm Nifty was in up trend and it moved from 16236 to 16350, and again made a new life time high. Interesting thing to notice is Nifty closed where it opened toady and below 16300.
Global market is positive but Asian market is negative.
At the time of publishing this SGX Nifty is trading at 16352, near it's lifetime high and selling is expected to come.
In Domestic market there is a news related to Vodafone Idea, which may affect the BankNifty tomorrow and if BankNifty stays in negative then it will affect Nifty too.
Below 16236 a selling is expected up to 16145. 16300 and 16350 is immediate resistance for Nifty. A triple top can be seen in Nifty.
For BankNifty 36000 and 36200 is immediate resistance and below 35650 a selling is expected up to 35400.
Do your own analysis before taking any trade. Trade with SL and always remember Yesterdays Quote. Thank You.
Nifty Review and Analysis for 5th August 2021So I said technically if Nifty gives breakout and sustain above 15960 then Nifty will be considered Bullish. I know many people were shorting at top but buyers were determined to take Nifty at 16000 and after Nifty touched 16000 on 3rd August a possible 16000 call short covering happened, which pushed nifty to 16145 on 3rd August. On 4th August Global market was positive, so Nifty opened gap up and made a new lifetime high of 16290. Market was overall choppy on 4th August.
So what pushed Nifty up?
I would like to list possible reasons as per me.
1. Positive GST collection data.
2. Positive Global sentiment.
3. And short covering of 16000 call.
As of now only US market is negative, so we may an effect of this tomorrow on Indian market too.
Nifty made a double top on 15 minute chart of 4th August.
At the time of publishing this SGX Nifty is trading at 16261.50 and flat.
Note:
If Nifty retest 16000 level and move upward from 16000 only then bullishness of Nifty will be confirmed technically. There is not enough room for Nifty to go up because it is already stretched. Nifty has moved almost 800 points in 6 days, 28th July to 4th August.
16043, 16145 and 16236 will act as support for Nifty and for now resistance is 16300.
Nifty may open gap down or flat on 5th August 2021. Watch these levels and always trade will stop loss order. Do your own analysis before taking any trade. I think now I don't have to write what happens on weekly option expiry day and European market.
In this scenario I'm sharing one quote with you guys and it is related to market. Let me know whether you heard it before or not.
"Be Greedy when others are fearful. And be Cautious/fearful when others are Greedy"
Thank you.
Nifty Spot.... Martching to new ATH ....??Nifty structure overall not sustaining above 15964 levels. Rather 15888 - 15930 levels are acting as a severe offloading zones.
FIi are nett sellers in July so far... US Markets are @ ATH
over all global cues / Sentiments are positive as off now... But at higher levels we should be cautious
Stay properly hedged. Levels defined...
Strategy : Buy on dips near bullish level defined.
For July Month Important levels see attached study below.
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Nifty 50 Intraday Trade Setup for 26th July 2021Good morning Traders,
The IN50USD is trading on a crucial level. The index is making a range and also a demand zone at 15,750 to 15,830 level. Here we have two buying ideas First is from 15,740-15,750 levels, Second is above 15,830.
Stoploss or risk is less here and target on the upside is 15,992 (first) & 16,023 (second). If I calculate the risk to reward ratio, it's pretty much good here.
You must be careful and keep an eye on the 15,700 levels, In case it breaks the support then the demand zone will be invalid and we may see a correction 15,600-15,550 levels.
First things first, I'll update the fresh chart once the SGX Nifty & IN50USD Index is open & post a fresh view after I get some fresh Intraday data.
Good Luck
Virendra Pandey
Nifty With A Big Breakout /Sorry For The Noise So finally We are ready to get a big Breakout in our upcoming Trading session .
But Yes Not tommorow
May be in this week or be in next Week
Nifty is Likely to make an inverted Head And Shoulder Pattern In an hourly Chart
Sorry For my last tweet about Blindly buying the Index
I would Prefer to buy Nifty Future @ 15605 Sl 15550 Tp 15900-16150
@AnilSinghvi_ @SandeepKrJainTS @JayThakkar22 @iamrakeshbansal @ZeeBusiness @CNBC_Awaaz @kunalsaraogi #stockmarkets #NIFTYFUTURE #sharemarket #financialadvice #zerodha #OptionsTrading
SEND NIFTY BACK TO 12000So I will receive brickbats for this but what the hell, let's be pragmatic.
On a long term trend we are aiming to break the parallel channel which so far was intact in a hyper bullish narrative.
Note the bearish divergence!
Bull trap likely in place, will hit key resistance 1 at ~16100 and most likely we trace from there.
NOTE: this is a cyclic correction and the 5-10year trend is overall bullish for sure . NSE:NIFTY
Nifty Rising Wedge PatternNifty Is making Rising Wedge pattern and can turn bearish once it broke the support trend line. Keep an eye if it's breaking bottom trend line to exit the trade first major support level is at 15433, and next is at 14755.75. Enter downward trade only if it give strong closing (2 consecutive) below trendline. Short term Pivot Levels are given below.
PIVOT LEVELS Classic
R1 15,812.93 R2 15,942.52 R3 16,123.53
PP 15,631.92
S1 15,502.33 S2 15,321.32 S3 15,191.73
NEVER RUN BEHIND THE TRADE KEEP PATIENCE TO GET PRICE TO YOUR DESIRED SUPPORT/ RESISTANCE LEVLES TO ENTER A TRADE
Disclaimer:
The views provided solely for information purposes, and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy. The information presented is for general information purposes only. Although every attempt has been made to assure accuracy, I assume no responsibility for errors or omissions
Nifty 50 Future quick AnalysisLong-term Bias (Weekly): Definitely Bullish
Medium-term Bias (Daily): Bullish
Short-term Bias (195 Min): Bullish
I am bullish as Nifty 50 (India) came out of time correction in 195 min chart and there has been an shorter period time correction is happening and I am believing that it has come out of time correction zone and ready for next upward rally.
Let's see if this holds any water :)
NIFTY FOR TOMMOROW - 18 June 2021Nifty opened gap down today, it tried to fill the gap it created today, but couldn't sustain at higher levels and closed almost where it opened today.
If you see the today's candle formation, its like a inverted hammer candle, but the structure of the candle is of lower low and formed after gap, hence not very important for support purposes.
Now what for tomorrow ??
If we see the previous price action, prices did close at the critical support , it is the area from where the price bounces various times, so we need to be careful while creating new short positions.
So for tomorrow, considering today's closing , I am expecting nifty might open flat or gap down and if opened as per expectation, and sustains below 15700 - 15750 it might test support zone of 15630-15580 and only decisive close below this level could exaggerate selling in the index and could move uptill 15400 levels.
Supply zone : 15700-15750
Demand zone : 15630-15580
Adani ENT Possible Short AdaniEnt is in strong uptrend. We have seen almost 30% move last week when it broke out from 1350 towards 1700.
At this point, there are no signs of bearishness on any timeframes. However, I see a harmonic pattern and I am explaining it below. Pl note that this is a monthly chart on the log scale.
Harmonic inherently does not support log scale therefore we have to manually project X-A, ABC Leg and B to C leg and look for major FIB Levels. FIB retracement and Trend based FIB extension tool on trading view supports FIB levels based on the log scale. I have mentioned levels in the chart only and therefore I am not repeating it here.
Additionally, I have used pitchfork took. Pitchfork is used to project long term price cycles based on the trendlines drawn from FIB levels and identify swings. There are variations of the tool namely standard pitchfork (aka Andrew Pitchfork), modified pitchfork etc. For this, I have used standard pitchfork tool. Explaining the pitchfork in the idea not recommended but you can find relevant materials on Investopedia and YouTube. Pl see that 0.618 FIB line on the pitchfork acts as a resistance. I am not using it regularly but I do know about its usefulness and limitations.
Again these are all possible zones from where we can see swing high formation and should see a correction but that does not mean we short it immediately. Let Price action show a bearishness with RSI weakness. negative divergence or some sort of bearish candlestick patterns. We will need to carefully wait and see how price structure develops from here and take a call accordingly. But Again, these are just possible zones from where market may reverse but nothing guaranteed.