Niftylevels
Gapped But Not Forgotten - NIFTYAs I posted earlier in my previous post yesterday, FINNIFTY went to cover the unfilled zone on the marked levels today, successfully hitting the marked zone.
Coming to the chart of NIFTY, it can be seen there are some old dues for this index to clear as well, which can be expected as early as tomorrow since the unfilled zone of 550-480 can be seen just below todays closing which shall see some activity as per previous moves.
The covering of these gaps ups (& downs) has never been more exciting as a options buyer where such sharp moves can be seen forming consecutively.
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 -02/01/2024Nifty will be gap down opening in today's session. After opening nifty start trading below 21670 level and then possible downside rally up to 21550 in today's session. in case nifty trades above 21710 level then the upside target can go up to the 21830 level.
21800 to 21840 is zone which is proving to be strong resistance.Another Dangerous Doji formed today. If yesterday's Doji candle was indecisive, today's Doji was little negative in nature as the closing was substantially low compared to where the index was before just an hour or 2 before closing. Mainly the news of Earthquake in Japan and the magnitude of destruction could be one of the reason of sudden weakness. Support for Nifty will be at 21682, 21471 and 21242. Resistance on the upper side for Nifty will be at 21802 and 21840. Crossing and closing above 21840 can give Nifty a free run towards 21900 or even 22000. But indecisiveness is causing a negative shadow.
#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 Intraday Support and Resistance Levels -29/12/2023Nifty will be gap up opening in today's session. After opening nifty sustain above 21800 level and then possible upside rally up to 21920 level in today's session. in case nifty trades below 21750 level then the downside target can go up to the 21630 level.
Nifty Moving Swiftly taking the support of trend-line. Nifty Moving Swiftly taking the support of trend-line making a HHHL pattern (Higher High, Higher Low). Nifty might face little bit of a technical resistance between today's high 21675 and 21690. Closing above 21690 will open the gates towards 21799 and finally 22K levels. The road towards 22K after Crossing 21799 might not be as smooth as things have been till now.
Supports for Nifty remain at 21599, 21476 and 21373 (Very important and strong support). closing below 21373 can take Nifty upto 21112 or even below 20K levels.
Resistances on the way up for Nifty will be at the zone between 21675 and 21690. Major channel top resistance is near 21799.
29 DEC 2023 BANKNIFTY SUPPORT AND RESISTANCE LEVELSHello Guys,
Good Morning everyone,
According to the data today market is going to open gap up
After A gap up opening if Banknifty sustains Above 48600 and takes Support from 48600 then open target for T1-48700, T2-48800,T3-49000
If the Banknifty gap up opening sustains Below 48200 and takes resistance below 48200 then the open Targets for T1-48100, T2-48000,T3-47900
Major Levels 48200,48400,48500
If the market stands in this area of 48200 to 48500 then it is possible that even today the market will remain in the range.
#NIFTY Intraday Support and Resistance Levels -28/12/2023Nifty 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 21630 level then the downside target can go up to the 21510 level.
28 DEC 2023 BANKNIFTY SUPPORT AND RESISTANCE LEVELSHello Guys,
Good Morning everyone,
According to the data today market is going to open gap up
After A gap up opening if Banknifty sustains Above 48400 and takes Support from 48400 then open target for T1-48500, T2-48600,T3-48800
If the Banknifty gap up opening sustains Below 48200 and takes resistance below 48200 then the open Targets for T1-48100, T2-48000,T3-47900
Major Levels 48200,48400,48000
If the market stands in this area of 48200 to 48000 then it is possible that even today the market will remain in the range.
#NIFTY Intraday Support and Resistance Levels -27/12/2023Nifty will be gap up opening in today's session. After opening nifty sustain above 21460 level and then possible upside rally up to 21580 level in today's session. in case nifty trades below 21430 level then the downside target can go up to the 21310 level.
27 DEC 2023 BANKNIFTY SUPPORT AND RESISTANCE LEVELSHello Guys,
Good Morning everyone,
According to the data today market is going to open gap up
After A gap up opening if Banknifty sustains Above 48000 and takes Support from 48000 then open target for T1-48200, T2-48300,T3-48500
If the Banknifty gap up opening sustains Below 48000 and takes resistance below 47900 then the open Targets for T1-47700, T2-47600,T3-47500
Major Levels 47500,47600,48000
If the market stands in this area of 47600 to 47800 then it is possible that even today the market will remain in the range.
#NIFTY Intraday Support and Resistance Levels -26/12/2023Nifty will be gap up opening in today's session. After opening nifty sustain above 21380 level and then possible upside rally up to 21500 level in today's session. in case nifty trades below 21300 level then the downside target can go up to the 21180 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 Intraday Support and Resistance Levels -22/12/2023Nifty will be gap up opening in today's session. After opening nifty sustain above 21300 level and then possible upside rally up to 21420 level in today's session. in case nifty trades below 21250 level then the downside target can go up to the 21130 level.
22 DEC 2023 BANKNIFTY SUPPORT AND RESISTANCE LEVELSHello Guys,
Good Morning everyone,
According to the data today market is going to open gap up
After A gap up opening if Banknifty sustains Above 48000 and takes Support from 48000 then open target for T1-48200, T2-48300,T3-48500
If the Banknifty gap up opening sustains Below 47500 and takes resistance below 47500 then the open Targets for T1-47300, T2-47200,T3-47000
Major Levels 48000,47500,48200
If the market stands in this area of 48000 to 48200 then it is possible that even today the market will remain in the range.
#NIFTY Intraday Support and Resistance Levels -21/12/2023Nifty will be gap up opening in today's session. After opening nifty sustain above 21130 level and then possible upside rally up to 21250 level in today's session. in case nifty trades below 21080 level then the downside target can go up to the 20960 level.