NIFTY--Gapup or Gapdown??
Price is exactly closed at trendline resistance... which is also a strong resistance...
I am sharing the important levels of Support and Resistance. These levels plays a crucial role in trading decisions, as they act as reliable markers of price movements.
------>>Support levels are price points where an asset tends to find buying interest, preventing it from falling further.
---->Resistance levels, on the other hand, are points where selling pressure typically prevents the asset from rising higher.
Take a look at these levels and trade accordingly. Recognizing and respecting these support and resistance levels can help traders make informed decisions and manage risk effectively. They serve as key reference points for technical analysis and are vital tools in successful trading strategies.
Trade safe...Thank you guys for your support
Niftyintradaytradesetup
Nifty--Consolidation or Bullish??After a strong Bearishness from the supply zone @21700 levels price gives us some retracement to enter again shortside...
If tomorrow price opens up try to be on short side from 21550-21500 levels for targets of 21000 levels.
Liquidity lies above these levels.
If consolidation happens at bottom levels then we have a chance of fallback to the bottom support at 21000 and 20800 levels be tested soon.keep in long from this levels. we have a chance of continuation down side possibility is more,trade with less quantity.
NIFTY--@Trendline Retest??Nifty broken the major trendline
In the previous sessions price is retested the same trendline and showing Bearishness from the supply zone.On bottom side strong demand zones lies at 20800 levels.
If this trendline acts as resistance we will observe a continuous Bearishness in nifty upto 20800 levels.
If we observe consolidation between 21700-21300, will expect a fall below 21300 and then have a rise again towards ATH.
Note:
If trendline failed to push down side, liquidity grab above the trendline will observe and a fall happens again.
Nifty positional making money.Monday intraday<>
Mild gap up or flat opening will be good to go longs and resistance should hit first before it takes support once again.
Huge gap down will be neglected the view.
IMPORTANT-20300-20500 gap will fill before budget or after the budget it may fill depending on financial news.
>Just follow the trend you will never be in loss.
>Don't predict before closing levels for traps.
>Wait for the retest level which will be secure
and can avoid huge losses.
>Profit bookings according to your capital %.
>Don't use indicator on daily basis as stop loss can hit easy.
NIFTY--Supply zone@21700 ??After a strong fall, expecting some retracement in nifty.
on topside supply zone is identified at 21650-21700 levels.
so liquidity is lies above and below this levels,
after testing these levels again have a chance of fallback to test the demand zones at 21300 levels and at 20800 levels.
If 21300 level fails to push it upside, quick drop and rise will see in coming sessions.
so this week mostly in this range 21700-21300 levels.
Be careful, long after 21700 short below 21300.
NIFTY--Breakout or Fakeout??Nifty is trending higher and higher...
Closing is given above the ATH again,
If this is a breakout, in the next session it will continue its momentum higher again.
If it is a fakeout,buyers trapped in today's bullish move.
If a retest to the previous ATH Is given,and continues, go long, otherwise keep in short side, below the channel again.
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.
#NIFTY Intraday Support and Resistance Levels -03/01/2024Nifty will be gap down opening in today's session. After opening nifty start trading below 21650 level and then possible downside rally up to 21530 in today's session. in case nifty trades above 21670 level then the upside target can go up to the 21790 level.
#NIFTY Intraday Support and Resistance Levels -01/01/2024Nifty will be gap down opening in today's session. After opening nifty start trading below 21700 level and then possible downside rally up to 21580 in today's session. in case nifty trades above 21750 level then the upside target can go up to the 21870 level.
NIFTY expecting a Retracement till Monthly Demand.
Price has moved away from the EMA, whenever we have a scenario as such Price retraces to the latest Fresh Demand and we have a Monthly Fresh Demand formed.
We have a Daily Demand exceeded by a Daily Supply hence expecting this Fresh Supply to be the Source of the Downtrend till the Monthly Demand
Amazing Short position can be encashed after a downward confirmation in 4H chart.
NIFTY prediction for today 20 Dec 23As we discussed, nifty will be forming a double top. It has completed the double top, and 21500 worked a nice resistance. Now, for today, 21500 will be acting as a nice deciding line. If it breaks above and consolidates upside, then it might go higher; otherwise, 21500 might work as a turning reversal point for Nifty.
Reasons:
DOUBLE Top formation is already completed. In the last 30 minutes, there was a lot of pressure from sellers with great power. (Bearish)
Ascending triangle pattern completion is there, which shows the trend might continue.
OI has PCR 0.99, is bullish, and 21400 has quite nice additional PE writing. (bullish)
RSI is 40-60, which means it is mostly sideways.
Price > EMAs(13,50,200) shows bulls are still having market control. (Bullish)
21300 will be providing a nice price action support point.
If it breaks to the upside, 21650 will provide a nice target point.
Verdict:
If it breaks to the upside, Sideways or Bearish might go bullish.
Plan of action:
Observe 15-minute candles and be on the selling side. Follow the analysis.
#NIFTY Intraday Support and Resistance Levels -15/12/2023Nifty will be gap down opening in today's session. After opening nifty start trading below 21180 level and then possible downside rally up to 21060 in today's session. in case nifty trades above 21210 level then the upside target can go up to the 21330 level.
#NIFTY Intraday Support and Resistance Levels -13/12/2023Nifty will be gap up opening in today's session. After opening nifty sustain above 20920 level and then possible upside rally up to 21040 in today's session. in case nifty trades below 20870 level then the downside target can go up to the 20750 level.
NIFTY Prediction for tomorrow 12 Dec 23As we discussed yesterday, NIFTY did take resistance from the given resistance line and was sideways the whole day. For tomorrow, Nifty is expected to move into the inner zone. Two possible cases are explained in the chart. In case 1, it will be sideways in close range. If case 2, it might give you a little momentum to the downside.
Reasons:
EMA 50 is providing a nice support.
on the upside trendline provides a nice resistance trendline.
20850 will be acting as a good Price action support point.
PCR 0.93, which is bullish, but if we check OI the whole day, it was more of a round-off. Few new positions were created. People are waiting unless it's direction to be decided.
RSI is 40-60, which is mostly sideways.
according to OI 21000, it is working as MAX Pain, which is also a good psychological level.
Price > EMAs, which means bulls are strong.
Verdict :
Sideways
Plan of action:
Sell 21000 CE and protect it with hedging.
NIFTY Bull prediction for tomorrow As in my last analysis we discussed, NIfty has given the breakout to bulls side it has broken the highest high. Now it's expected to move higher HIGH. most levels have been marked on chart.
I am exxpecting it to retrace to 20200 levels and then once bulls take the charge nifty is going to touch above resistance trendline. It's having mild Bearish deivergence. but that can be fixed during consolidation or retesting the 20200 level.
I am expecting it to retest and than move to 20500.
Reasons:
NIFTY has aleady given the breakout. trading all time high. (Bullish)
PCR = 1.19 (Bullish)
20200 is having huge PE writing means good strong support level. (Bullish)
Upside we have good CE writing at 20400. So, traders are waiting for retest to sell lower point. (Bullish)
RSI is already in the Bullish zone. (Bullish)
Verdict:
Strong Bullish
Plan of action:
Sell 20200 PE and Buy 20250 CE once Bull trend confirms after retest.
NIFTY--Trading in a channel??Keep in long even if price comes down.
as long as price is in a channel keep in long side only....
no sign of bearishness as of now in nifty...
If 19700 holds then it will soon touch the ATH.
If price breaks the channel then will thin of short side, after a retest is done.
Thanks for your support and Encouragement. Trade safe.
#NIFTY Intraday Support and Resistance Levels - 24/11/2023Nifty will be FLAT opening in today's session. After opening nifty start trading Above 19830 level and then possible upside rally up to 19950 in today's session. in case nifty trades below 19800 level then the downside target can go up to the 19680 level.
NIFTY--19600 or 19950 ??I am sharing the important levels of Support and Resistance. These levels play a crucial role in trading decisions, as they act as reliable markers of price movements.
------>>Support levels are price points where an asset tends to find buying interest, preventing it from falling further.
---->Resistance levels, on the other hand, are points where selling pressure typically prevents the asset from rising higher.
They serve as key reference points for technical analysis.
After taking the liquidity at 19600 levels.. price have the chance moving upside, to test 19950 levels...keep safe before short below 19600...