NIFTY - Possibility of trend exhaustionOn hourly time frame, there is a possibility of an ending diagonal formation. The same when formed can act as a strong confirmation of an ending.
Watch out for today's high to be tested by a marginal increase.
Niftyintradaysetup
NIFTY - On the verge of a correction There is a possibility that the market is being interrupted by the intersection of two strong resistances (mid-trend line intersection) which calls for a correction in the monthly time frame.
However, the penultimate move is yet to be completed.
The market is about to test the previous day's low @23,442.60 & after that, there will be a struggling upward move testing again at 23,664. The correction progresses from there to the 21,280 ~ 21,200 levels
Today support for the upcoming penultimate move will be,
SI - 23,442.60
SII - 23,435 ~ 417
SIII - 23,382
NO recommended SL for this trade setup (Any substantial increase above 22,664, calls off the trade).
The resistance to the final move is 23,664 & is expected to surpass the said levels by a minimum margin.
Trade accordingly.
22500 or 22800 Who will blink?Chances are that Nifty could trade between 22800 and 22450 to 500 range today. If Nifty comes to either of these levels, look for contra trades in the opposite direction.
#nifty Intraday setup for 04 April , ThursdayGifty nifty is trading on a positive note, around 50 points up from yesterday's closing, which is a sign of a small gap up or flat opening. The market range is tight from the last three trading sessions (22,520 to 22,400 ).
Intraday Range: 22,520 to 22,400
Considerable long above 22,520 for the target of 22,600/22,640
Considerable Short below 22,400 for the target of 22,350/22,300
#NIFTY Intraday Support and Resistance Levels -28/03/2024Nifty will be gap up opening in today's session. After opening nifty sustain above 22180 level and then possible upside rally up to 22300 level in today's session. in case nifty trades below 22130 level then the downside target can go up to the 22010 level.
#NIFTY Intraday Support and Resistance Levels -13/03/2024Nifty will be gap up opening in today's session. After opening nifty sustain above 22340 level and then possible upside rally up to 22460 level in today's session. in case nifty trades below 22310 level then the downside target can go up to the 22190 level.
#NIFTY Intraday Support and Resistance Levels -12/03/2024Nifty will be gap up opening in today's session. After opening nifty sustain above 22340 level and then possible upside rally up to 22460 level in today's session. in case nifty trades below 22300 level then the downside target can go up to the 22180 level.
#NIFTY Intraday Support and Resistance Levels -11/03/2024Nifty will be gap down opening in today's session. After opening nifty start trading below 22450 level and then possible downside rally up to 22330 in today's session. in case nifty trades above 22520 level then the upside target can go up to the 22640 level.
#NIFTY Intraday Support and Resistance Levels -02/03/2024Nifty will be gap up opening in today's session. After opening nifty sustain above 22350 level and then possible upside rally up to 22470 level in today's session. in case nifty trades below 22310 level then the downside target can go up to the 22190 level.
NIFTY 26.2.2024NIFTY TODAY CONSOLITATE ,no bigmoment most of the retailers traped in this sideways range,wait for clear breakout 22300 above reached flag pattern entry activated
NIFTY 23.02.23 INTRADAY VIEW NIFTY again take 0.5 retracement level all IT stocks looking positive for reason nvidea extrodinary result ,US MARKET also positive
#NIFTY Intraday Support and Resistance Levels -20/02/2024Nifty will be gap down opening in today's session. After opening nifty start trading below 22090 level and then possible downside rally up to 21970 in today's session. in case nifty trades above 22130 level then the upside target can go up to the 22250 level.
#NIFTY Intraday Support and Resistance Levels -06/02/2024Nifty will be gap up opening in today's session. After opening nifty sustain above 21780 level and then possible upside rally up to 21900 level in today's session. in case nifty trades below 21750 level then the downside target can go up to the 21630 level.
#NIFTY Intraday Support and Resistance Levels -29/01/2024Nifty will be gap up opening in today's session. After opening nifty sustain above 21400 level and then possible upside rally up to 21520 level in today's session. in case nifty trades below 21340 level then the downside target can go up to the 21220 level.
#NIFTY Intraday Support and Resistance Levels -25/01/2024Nifty will be gap up opening in today's session. After opening nifty sustain above 21480 level and then possible upside rally up to 21600 level in today's session. in case nifty trades below 21430 level then the downside target can go up to the 21310 level.
#NIFTY Intraday Support and Resistance Levels -19/01/2024Nifty will be gap up opening in today's session. After opening nifty sustain above 21500 level and then possible upside rally up to 21620 level in today's session. in case nifty trades below 21450 level then the downside target can go up to the 21330 level.
#NIFTY Intraday Support and Resistance Levels -11/01/2024Nifty will be gap up opening in today's session. After opening nifty sustain above 21650 level and then possible upside rally up to 21770 level in today's session. in case nifty trades below 21600 level then the downside target can go up to the 21480 level.
#NIFTY Intraday Support and Resistance Levels -10/01/2024Nifty will be gap down opening in today's session. After opening nifty start trading below 21530 level and then possible downside rally up to 21410 in today's session. in case nifty trades above 21560 level then the upside target can go up to the 21680 level.
NIFTY 50 Nifty 50 index today analysis . Market in 4 hr resistance area . 30 min forming Double Top . Wait for neck line breakout . Expected sideways forming .
#NIFTY Intraday Support and Resistance Levels -08/01/2024Nifty will be gap up opening in today's session. After opening nifty sustain above 21730 level and then possible upside rally up to 21850 level in today's session. in case nifty trades below 21700 level then the downside target can go up to the 21580 level.
#NIFTY Intraday Support and Resistance Levels -05/01/2024Nifty will be gap up opening in today's session. After opening nifty sustain above 21680 level and then possible upside rally up to 21800 level in today's session. in case nifty trades below 21650 level then the downside target can go up to the 21530 level.
NIFTY--Trading in a channel??Nifty is still trading in a channel...
wait until price breaks this channel for complete bearishness...
as of now no sign of bearishness is observed in NIFTY...
If price failed to move again from the channel bottom then will think of bearishness.
Nifty live prediction for today 3rd Jan 24As we have discussed, Nifty has been moving upwards in the channel. Now, it has broken down to the lower channel, which shows a bearishness in the NIFTY behavior. There is a high probability that it will now continue in the lower channel as a bearish trend. OI data also confirms its bearish nature with PCR = 0.70. it will be bearish for now.
Reasons:
It has entered the bearish channel side. Now, fall might be sharp. (Bearish)
Price < EMAs that show the bearishness in the market. also it has given crossover(ema(13,50)) which always shows reversal of the trend.
RSI = 40 shows the weak bulls and might enter <40 that will be the start of heavy bearishness.
if we see the OI data PCR = 0.70 which shows bearishness in the market.
21500 will be acting as a nice support level to the downside. Upside 21600 will be acting as a nice resistance zone; OI data also confirms that.
Verdict:
Bearish
Plan of action:
Sell 21550 CE and hedge it with a small CE premium.
