Niftylevels
Nifty Spot Levels - Run Upto Election OutcomeNifty in past 7-10 trading sessions...
trading in range 22200 to 22800 With Volatality (due to Geopolitical News and US Mkts and More Data from India and International Mkts).
But as we are awaiting Election Results...
Any DIP seems to be bought into with sentiments riding high on Current Government to Continue .... giving hope for all the major growth work to be carried out as an ongoing process without any hitch and taking Indian Economy to near $5 trillion.
Markets are supreme...
So have marked important Trading levels...
Happy Trading,,,
200 Days EMA comes to rescue of the market. 200 Days EMA comes to rescue of the market. Market which was shocked by the unexpected result was rescued by 200 days EMA today. You can see how it is supportive of Mother Father small child story that I propagate. PAPA line came to support of the falling market and there was a 603.05 points recovery. However the fall is 1379.4 points devastating fall. We can hope for a recovery if the levels of 21247 holds. However the most important resistance will be the MOTHER line of 21404. These two are the most important levels to track for this week and rest of the month. We can expect a recovery on announcement of a stable Government. Many stocks including PSU are coming near mouth watering levels with respect to Dividend yield. Other stocks which have nothing to do with result of the election have also taken a beating even though they were / are on a growth trajectory. So be wise and choose diamonds from the ruins.
Fibo gives important levels for the Election rally. Election rallies can be considered as Bull Rallies on Dope they are extremely fragile at the same time they can break all the resistances in their way like a mad bull in rage. Expecting an extremely volatile day tomorrow. But space to grow on upper side is very limited. The RSI indicating market is close to becoming overbought but an election result which market expects can further the boundaries.
Important Resistance levels: 23338 and 23537.
Important Support levels: 23109, 23058, 22806 and 22559. Tipping point into bear territory will be a closing below 22417.
View on Nifty and BankNiftyHello Traders,
Checkout the quick update on Nifty and BankNifty. Be very alert
Nifty Enters crucial Support Zone. Nifty has entered Important support zone. This zone extends from 22495 to 22386. Today's low of 22417 is also a very important level below which we will have only the support level of 22386 which is the 50 days EMA. Below 22386 bears will try their best to drag the Index to the levels of 21712 or even 21208. (This looks improbable as of now but you never know). DII was buying even today in this drastic fall while FII are selling relentlessly. With only 1 day left before we will have exit polls and then the actual election results on 4th June. Investors should brace for a few more days of volatility. If the result go against popular opinion then we can see further lower levels which are mentioned above. RSI has taken a turn and Mid channel has provided a support as of today. Resistance on the upper side are 22508 and 22829.
NIFTY 320+ Points Gain - SHORT PositionLoving the momentum in the market these days.
Only if you know how to catch the big moves.
I believe bigger moves are coming from Monday onwards.
Within NIFTY and BankNifty, I feel BankNifty trades will make the bigger money.
Are you prepared? Whats your strategy for the recent volatility? Share your thoughts.
Further correction likelyNifty traded in the daily fair value gap and taking resistance at the mid of the long term upward channel yesterday. There are 2 scenarios that could play out. The unlikely of the 2 is it breaks the resistance trend line and move up towards the top of the channel. The second more likely scenario is that it could test the bottom of the fair value gap OR even come lower to test the order block below that. 22600 or 22500 could be likely in this case.
Safe traders might withdraw their money form the market and wait for election results. This could trigger a deeper retracement.
From where can we see a turnaround in Nifty?After making a new high there has been relentless bout of Profit booking seen in Nifty. Volatility index probably peaked at 26.145 on Monday. It has come down a bit today to 24.175 but still it is in not relenting. Many stocks and indices seem to be hitting the oversold zone but still there might be little more pain in store for the investors this week. Probable turnaround zone for Nifty or supports are at 22685. If 22685 today's low is broken tomorrow Nifty can fall further to 22495 region. The zone between 22495 and 22382 has many strong supports including 50 days EMA Mother line and Mid-channel support. If by any chance 22382 is broken Nifty can see further free fall as bears will take full control. In such an unlikely scenario next supports will be at 22057, 21827 or even 21712.(In highly unlikely case of results not coming in favour of the ruling party) Nifty can fall further to 21195 or below. In case Nifty turns around from 22685 or from the zone between 22495/22383 the next resistances will be at 22829, 22990, 23140. Top of the current trend and channel top seems to be near 23266 region. In case the ruling government comes with a sound majority without facing any hurdles we may even see Nifty breaking the channel top and might go towards 23350, 23500 or even 23600 region.
Consolidation and profit booking phase in Nifty. Nifty is seeing a consolidation and Profit booking phase after making a new All Time high. There was a massive pressure seen across indices. This phase and volatility which we have seen off late can continue for a while till election results are declared and a little bit post results too. FMCG and Pharma were the only 2 indices which withstood the selling pressure but broader markets were seen bleeding a bit specially the cash counters. Next one week or so will test the patience of investors and speculation should be avoided. Stay away from high risk counters and derivatives if you are not an expert. Support for Nifty can be seen near 22864 which is rather a weak support. Next support is near 22767 which is considerably strong support of 50 Hours EMA (Mother line). If 22767 is broken further support can be found only near 22602 and 22489. This zone is a strong support zone having mid channel support of the current channel and 200 hours EMA. Resistance on the upper side for Nifty are at 22937, 22999 and 23053. Above 23053 Nifty will become little strong and Bulls can further take the index to 23108 or 23150 levels which will be a strong channel top resistance.
In a range. Look for break out. Nifty is stuck in a range between 23100 and 22870. Though the higher time frame fair value gaps suggest a bullish price action, the news based uncertainty tells us to trade with caution. Wait for a break out on wither side. In this rage trade only if you are able to read the fine but violent moves.
Not much room to grow for Nifty unless it breaks the channel. Nifty hit the channel top today and immediately receded as there is not much space left of it to grow. Either it has to break the parallel channel and go above it or it has to fall to cool down the RSI and then come and fight to make a new high. It is obvious that as we hit levels above 23K there will be bout or bouts of profit booking too. With election results around keep expecting such volatile ralles and snap rallies. Supports for Nifty on the lower side are at 22877, 22775, 22716 and 22457. Below 22457 Nifty becomes a little weak. Resistances on the upper side for Nifty are at 22999, 23053, 23110 and finally 23150. Shadow of the candles is absolutely neutral.
Up above the world so HighNifty is opening above ATH , not supported by global cues. Where are we headed. No idea. We will have to wait and watch for what the informed houses are doing with the privileged information about exit polls they might have. No price action or technical analysis here.
ATH Breakout for Nifty but has the rally got more steam?Major ATH All Time high Breakout for Nifty today however Nifty could not cross the much coveted level of 23K. Can Nifty do to it tomorrow? has it got the steam? RSI is high indicating that Nifty is getting overbought and valuations of a lot of stocks are very pricey. However there might still be opportunity left in a few Large cap stock specially IT, Banking and Finance space which have fallen out of favour of investors lately. Valuations in some PSU, Mid and Small Case space are questionable currently and we advise keeping a strict trailing stop loss wherever you have good profit.
Remember nobody has ever become a pauper by booking profits. Keep strict trailing Stop Losses. They are best friends. Loss in Profit is ok but Profit to loss is not ok.
Nifty Major Supports levels: 22784, 22507 and 22298.
Major Future resistance levels: 22293, 23060, 23208 and 23407.
U-formation on cards if resistance at 22632 is cleared by Nifty.It looks like Nifty can create a U formation if the resistances at 22632 is cleared and we get a proper closing above it. However for perfect U-formation the Nifty will have to cross other resistances at 22693, 22734, 22768 and finally 22794. In case we do not get a closing above 22632 and Nifty returns the supports for Nifty will be at 22536, 22484 and 22445. Below 22445 there are important support levels of 50 and 200 EMA which are 22409 and 22345. Below 22345 Nifty becomes very weak and Bears take over the market. Shadow of the candle is neutral to positive for tomorrow.
Nifty returning from 22591 indicates strong resistance zone.Nifty returning from high of 22591 has given indication of strong resistance zone ahead. Also closing above Mid-Channel resistance was a good move but still it is not a convincing upward gallop with market breadth remaining negative and FII still selling relentlessly. Some decent mid and large cap stocks are not moving despite good results and some average stocks and PSU are moving towards exaggerated valuation. PE investing or comparing the 10 year PE to the current PE of the stock should be the way to go for investors. Do not get trapped at levels which might not return for years. (I am nor fear mongering but that should be the case in every and any circumstance anyway.)
Nifty Supports levels: 22470, 22402, 22345, 22257 and 22055.
Nifty Resistance levels: 22530, 22591, 22658, 22730 and 22831.
NIFTY 300+ Points Gain Target 3 ReachedSo, far this has been my safest strategy to trade Nifty:
Apply the indicator 'Risological Astra'
Set Nifty to 15 min time frame
BUY CE side if the price closed above the Astra dotted line.
I buy the monthly contract ONLY, with this strategy.
Sell 50% when the price reaches TP4.
Hold remaining 50% till the price crosses under the Astra dotted line.
This trade gave me 315+ points (unrealized PnL)
Ofcourse I will be selling 50% at TP4 and hold the remaining till the price crosses under the astra line.
I wish you all, good luck and happy trading.
Flying Index, Strolling Future!Nifty FUT does not seem keen to move up and that is a little worrisome. We are at striking distance to ATH but the timing is not to brilliant. Election results are still a couple of weeks away. We could move up a little and then retrace to consolidate near the 50% mark. This looks like a logical scenario. But informed institutions could take big positions and that could go against any narrative. Will trade only after watching for a while.
Good move ahead if mid channel support is held by NiftyGood move ahead for Nifty can hold the levels of 22470 and give a closing above 22522. Incase we get a closing above 22522 the resistances ahead will be 22587, 22658, 22730 and 22800+. In case Nifty gives a closing below 22470 the supports will be at 22345, 22246 and 22055. 22522 is however a strong trendline resistance and gap up opening and holding above it is the way to overcome it faster. Shadow of the candle is positive for the beginning of the week.
Technical Analysis: NIFTY 50's Recent Shifts and Future ProspectHello, TradingView community! Today, we're diving into a detailed technical analysis of the NSE:NIFTY index, which has shown some interesting movements lately. We'll break down the technical signals, look at the potential implications, and discuss what to watch out for in the coming days.
🔍 Overview of Recent Trends
The NIFTY 50 has been following a well-defined upward trend channel over the past several months, making consistent gains each time it hit the upper boundary. However, recent patterns suggest a change in dynamics, which we need to scrutinize closely.
🔁 Current Technical Setup
Most notably, the NIFTY 50 recently deviated from its usual pattern by not reaching the upper boundary of the trend channel before reversing its direction towards the lower boundary. This could be an early sign of weakening bullish momentum.
📉 Significance of the Double Top Pattern
The formation of a potential Double top, a classic bearish reversal indicator, adds weight to concerns about a bearish shift. While this pattern is not yet confirmed—since we haven't seen a definitive breakdown below the neckline—it's a development that warrants attention.
📊 Intersection with the 100-day SMA
The recent drop of -1.5% in the NIFTY 50 brought it down to the lower boundary of the trend channel, which coincidentally aligns with the 100-day Simple Moving Average (SMA). This SMA has historically served as a strong support level, often triggering rebounds.
🔄 Potential Outcomes
Bounce Back: If the 100-day SMA and the lower boundary of the trend channel hold up, there's potential for the NIFTY 50 to rebound towards the mid or upper boundary of the channel.
Bearish Reversal: A decisive close below the 100-day SMA & Neckline of Double Top could indicate a more significant Bearish Trend or the start of a consolidation phase.
🌐 Broader Market Context
Quarterly Earnings: The index is feeling the pressure from non-impressive Q4 results for 2024. Lackluster corporate earnings can dampen investor sentiment and lead to a reevaluation of stock valuations.
Volatility Index Rise: The NSE:INDIAVIX , which measures market volatility, is on the rise. This indicates increased uncertainty among investors, as they price in a higher potential for market swings.
FII Activity: There has been significant selling by foreign institutional investors (FIIs), contributing to downward pressure on the index. FII flows are crucial as they represent substantial investment volumes and can influence market direction.
US Federal Reserve's Stance: The hawkish stance of the US Federal Reserve, signaling potential interest rate hikes, is also a critical factor. Higher US interest rates can lead to capital outflows from emerging markets like India as investors seek higher returns in US assets.
These points illustrate how external factors are intricately linked with the movements of the NIFTY 50 index and should be considered when analyzing its future direction.
📈 Trading Strategy Recommendations
For those actively monitoring the NIFTY 50, it's crucial to keep a close eye on the 100-day SMA and the lower trend line of uptrend channel. These areas serve as critical junctures that could determine the market's short-term direction.
"In the world of Market, it's not about how much you know, but how well you understand what you know and how you apply it in uncertain times."
To conclude, while the NIFTY 50 presents an intriguing technical setup, traders should proceed with caution given the current uncertainties and the index's recent behavior.
This analysis is intended to enhance understanding and encourage informed decision-making. Keep watching these indicators and adapt your strategies accordingly to navigate through these potentially choppy waters.
Lastly, thank you for your support, your likes, Follows & comments. Feel free to ask if you have any questions.
Good closing by Nifty just above mid-channel resistance. Nifty saw a good closing today above mid channel resistance but could not hold on to higher levels as it found the resistance at 22502 to hot to cross. 22502 was today's high and might act as a resistance again tomorrow. If this level is crossed and we get a closing above it the next resistance levels will be at 22587 and 22658. Above 22658 bull have potential to take full control of the market and in such a scenario we can see Nifty climbing to the highs of 22730 and 22801 in the coming week or weeks. On the lower side, today's low of 22345 is a good support followed by Mother line support of 50 Hours EMA at 22235. Below 22235 Nifty becomes week and we might again see the levels of 22055, 21937 and 21815. Below 21815 closing Bears take total control of the market. Nifty is interestingly placed with shadow of the candle being neutral and it was a Doji candle that we saw today emphasizing the tussle between bulls and bears or shall we call it a tussle between FIIs and DIIs + Retail investors?
Trap!Looks like Nifty has walked straight into a spot marked with a big X like in the KGF2 movie. And is waiting to be shot down by bear cartel. This is the narrative that played out in my head.
Nifty could either consolidate OR fall from here.
On the contrary of Nifty Gaps up OR there is fresh buying in some heavy weights, good enough to make 22500 sellers run for cover, then we could see an unprecedented rally.
Remarkable Comeback Nifty but now faces Mid-channel resistance.Nifty recovered handsomely 349.85 points from the low of the day in the last hour against all frantic FII selling. This shows the power of DII and retail investors. Now Nifty faces a tough mid channel resistance 22438 which will take some doing to cross it. If Nifty manages to cross 22438 the next resistances will be at 22496, 22587, 22658, 22730 and 22801. If Nifty is not able to cross the Mid channel resistance the supports will be at 22298, 22215 and 22054. Nifty will be very weak below 22054. Shadow of the candle is looking neutral to negative but if FII jump into action (which unlikely) then frantic upside is possible. Volatility and peak tussle between FII and DII might continue.
