Get started

Niftylevels

Nifty levels and targets for tomorrow 29/Nov/2024Nifty Prediction for 29th November 2024 Nifty bank levels and targets for tomorrow. follow for more update and information On the November expiry day, the benchmark index Nifty50 extended its losses, closing at 23,914.15 with a 1.49% decline, weighed down by weakness in IT and auto stocks. The market sentiment was dampened by concerns stemming from U.S. inflation data, which signalled a slower-than-expected trajectory for future rate cuts—a factor that particularly impacted the IT sector. On the daily chart, the Nifty erased earlier gains, filling the gap from the election results day. However, it managed to hold key support levels around the Middle Bollinger Band and a horizontal trendline. Technical indicators such as RSI and MACD remain on a positive trajectory, suggesting a favorable outlook in the near term. Traders are advised to closely monitor global events, foreign institutional investor (FII) activity, and rollover data to better understand the market's direction in the upcoming series. On the downside, the index has strong support at 23,800 and 23,650 levels, while resistance is expected at 24,100 and 24,350 levels.03:56 PM
NSE:NIFTY
by ARROWINDEX
NIFTY : Analysis and Levels for 29-Nov-2024 On the previous trading day, Nifty exhibited a significant shift in momentum. A Change of Character (ChoCH) was observed, indicating a possible transition between bullish and bearish phases. The index traded near the golden retracement zones, showing both buyer and seller activity. The yellow trend represents a sideways market, green signals a bullish trend, and red indicates bearish sentiment. After a consolidation, NIFTY has shown a significant trending move on last trading session, so most probably nifty can trade sideways or in a range on Friday, but based on the chart, I have prepared trading plans for three possible opening scenarios: Gap Up, Flat, and Gap Down openings. Gap Up Opening (+100 points or more above ₹23,957) Resistance Focus (₹24,112-₹24,250): If Nifty opens above ₹24,057, it will directly test the golden retracement zone for sellers. Watch for bearish patterns, such as shooting stars or evening stars, in this area. If selling pressure emerges, initiate a short position. Action Plan: Entry: Short below ₹24,200 after confirmation of rejection. Target: ₹23,957 (the current close) and ₹23,807 (demand zone). Stop Loss: Above ₹24,300 to manage risk. Breakout Potential (₹24,250+): If Nifty breaks above ₹24,250 with strong volumes, it may head toward the Resistance Zone (₹24,544-₹24,656). Consider a long trade upon breakout confirmation. Action Plan: Entry: Long above ₹24,250 after a 15-minute candle close. Target: ₹24,544 and ₹24,656. Stop Loss: Below ₹24,100 to safeguard against false breakouts. Flat Opening (Near ₹23,957) Golden Retracement (₹24,112): If the market consolidates around ₹23,957, wait for a decisive move. The immediate focus will be the golden retracement zone at ₹24,112. Action Plan: Entry: Long above ₹24,112 if the price breaks this level with volume. Target: ₹24,250 and ₹24,544. Stop Loss: Below ₹23,900 to minimize risk. Demand Zone (₹23,807): If Nifty fails to sustain above ₹23,957, it could test the Golden Retracement Zone for Buyers (₹23,807-₹23,497). Look for bullish reversal patterns in this zone for long entry. Action Plan: Entry: Long near ₹23,807 if bullish candles like hammers form. Target: ₹23,957 and ₹24,112. Stop Loss: Below ₹23,497 to protect against breakdowns. Gap Down Opening (-100 points or more below ₹23,957) Demand Zone Test (₹23,807-₹23,497): If Nifty gaps down and opens near or below ₹23,807, focus on the demand zone. This zone is critical for potential reversals. Action Plan: Entry: Long near ₹23,807-₹23,497 after confirming bullish patterns. Target: ₹23,957 and ₹24,112. Stop Loss: Below ₹23,497 to limit losses. Breakdown Scenario (Below ₹23,497): A breakdown below ₹23,497 signals strong bearish momentum. Short positions can be taken if confirmed by volume and candle patterns. Action Plan: Entry: Short below ₹23,497 after confirmation. Target: ₹23,300-₹23,100. Stop Loss: Above ₹23,600 to avoid unnecessary risks. Risk Management Tips for Options Trading Limit your position size to ensure no single trade risks more than 2% of your capital. Use hedging strategies, such as buying protective puts or selling covered calls, to offset potential losses. Avoid trading during the first 15-30 minutes of market opening, as this period is highly volatile. Monitor implied volatility (IV) for options and select contracts with reasonable premiums to avoid overpaying. Summary and Conclusion This trading plan is designed to cater to multiple scenarios, ensuring you're prepared regardless of the market's direction. The key lies in observing critical levels like ₹24,112 and ₹23,807 and waiting for confirmation before entering trades. Remember: Yellow trends indicate sideways movement, green signals bullish momentum, and red shows bearish sentiment. Stick to the plan, respect stop losses, and prioritize capital preservation. Disclaimer: I am not a SEBI-registered analyst. This trading plan is for educational purposes only. Please consult with your financial advisor or conduct your analysis before making any trading decisions.
NSE:NIFTY
by LiveTradingBox
Resistance zone of Trendline Mother Line on stopping BullsOn the Daily candles chart of Nifty we can clearly see that Mother line and the trend line resistances are acting upon the Nifty and restricting it's further flight. Today we saw creation of another Doji like Monday. The Gap theory probably is also adding pressure on the Nifty. (Gap Theory is a very interesting subject about which we will sometimes do a special video.) Most of the gaps when a stock or index takes a leap should be filled in future as per the theory (in short). There was a gap up on Monday due to Maharashtra election results. In my opinion not all gaps are supposed to be filled there are some substantial gaps which never get filled. However we will do a webinar on this subject in future some day. Right now the major resistance zone is here for Bulls this zone starts from 24354 and ends at 24396. Nifty might need some consolidation or strong FII+DII buying to fly above this zone. If this zone is conquered further resistances will be at 24530, 24673, 24893 and 25253. Above 25253 there is pure Bull territory. Supports on the lower side are at 24135 major support (Higher Cradle of The Gap on Monday), 23948 (Lower cradle of the Gap), 23563 Major support from the 200 days EMA or the Father line, 23362 and finally 23254. Below 23254 we have a strong Bear territory. To know more about stop losses, trailing stop losses, Profit booking and investment, financial awareness in general, process of investment in Equity or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation . Many People who have read it consider it as hand book and perfect guide to equity investment. You can read reviews of the book or purchase the same from Amazon. The book is available on Amazon in Kindle and paperback version. I am sure you are going to find it of massive use. Once you have read the book, I assure you that you will become a next level investor. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
NIFTY : Trading levels and Plan for 28-Nov-2024Trading Plan for Nifty - 28th November 2024 Introduction: On 27th November 2024, Nifty remained range-bound within the Opening Support / No Trade Zone (24,225–24,277), marked by the Yellow Trend, indicating indecision. Attempts to breach the "Opening Resistance Zone" near 24,379 were met with rejection, suggesting the need for stronger momentum to push prices higher. The Last Intraday Support (24,175) held well, showing signs of bullish activity, while the zone 24,096–24,062 acted as a critical reversal area for deeper corrections. The chart also highlights Green Zones for bullish trends and Red Zones for bearish momentum. Plan for Different Opening Scenarios: Gap-Up Opening (100+ Points Above Close): If Nifty opens between 24,379–24,449, the focus should be on price action around the Opening Resistance / Consolidation Zone. A breakout above 24,449 could push Nifty towards the Last Intraday Resistance (24,603), which serves as a key Profit Booking Zone. Rejection near 24,449 can result in a pullback to 24,379. A failure to hold this level could bring prices back to the "Opening Support Zone" (24,277–24,225). If Nifty opens directly above 24,449, avoid immediate longs. Wait for retests or pullbacks to 24,449 or 24,379 before entering fresh positions. Risk Management Tip: Use call spreads (e.g., 24,400 CE - 24,500 CE) to hedge risks and reduce premium exposure. Flat Opening (Near Previous Close at 24,277): A flat opening near 24,277 requires patience. Avoid trades within the "No Trade Zone" (24,225–24,277) to prevent getting trapped in sideways movements. A sustained move above 24,277 can trigger long opportunities targeting 24,379 and 24,449. A breakout above 24,449 can lead to a bullish extension towards 24,603. On the downside, if Nifty breaks below 24,225, short trades can be considered, targeting 24,175 and 24,096, provided there is an hourly close below these levels. Risk Management Tip: Deploy straddles or strangles to benefit from potential volatility after a flat opening. Gap-Down Opening (100+ Points Below Close): A gap-down opening between 24,175–24,096 requires careful observation for bullish reversal patterns. A strong bounce from the Green Zone (24,096–24,062) can lead to a recovery targeting 24,225 and 24,277. A breakdown below 24,062 could accelerate selling pressure towards 23,950, opening opportunities for put options or short trades. Avoid chasing shorts near 24,096 unless there is decisive volume confirming bearish momentum. Risk Management Tip: Use put spreads (e.g., 24,100 PE - 24,000 PE) to control risk and leverage potential downside moves. Tips for Risk Management in Options Trading: Avoid overleveraging in options trading, especially during volatile market conditions. Use defined stop losses based on hourly candle closures to minimize losses. Deploy hedging strategies (like spreads) to manage risk and reduce time decay. Gradually scale into positions to confirm market direction before committing full capital. Avoid trading against strong momentum; wait for confirmed levels to act. Summary and Conclusion: For 28th November 2024, the following levels are critical: Bullish Trend: Sustained move above 24,277, with targets at 24,379, 24,449, and 24,603. Bearish Trend: Breakdown below 24,225, with targets at 24,175, 24,096, and potentially lower. Respect the "No Trade Zone" (24,225–24,277) to avoid false breakouts or choppy movements. Patience and disciplined execution of the plan will help navigate the market confidently. Disclaimer: I am not a SEBI-registered analyst. The above analysis is for educational purposes only. Please conduct your own research or consult with a financial advisor before making trading decisions.
NSE:NIFTY
by LiveTradingBox
Nifty Prediction for 28th November 2024Nifty Prediction for 27th November 2024 Follow for more updates and information. From a technical perspective, the Nifty index has been consolidating within a range over the past two sessions, hovering around its 50-day exponential moving average (DEMA) at 24,350. A breakout above this level could signal further positive momentum, with potential targets at 24,550 and 24,700. Indicators such as RSI and MACD show a positive crossover on the daily chart, underscoring bullish strength in the near term. On the downside, the index is holding firm support at 24,100, with additional safety nets at 24,000 and 23,900. On the upside, key resistance levels are positioned at 24,550 and 24,700.
NSE:NIFTY
by ARROWINDEX
NIFTY : Trading Levels and Plan for 27-Nov-2024Trading Plan for Nifty - 27th November 2024 Introduction: On 26th November 2024, Nifty traded within a defined range, with price movements largely respecting key levels. The chart revealed a consolidation phase highlighted by the "No Trade Zone" (Yellow Trend) around 24,238–24,303, indicating indecision among market participants. Bullish momentum (Green Trend) was observed above 24,459, while bearish pressure (Red Trend) dominated below 24,109. The market continues to exhibit structural clarity, with specific levels marking key support and resistance zones. Plan for Different Opening Scenarios: Gap-Up Opening (100+ Points Above Close): If Nifty opens above 24,303 but below 24,459, wait for price action confirmation. A breakout above 24,459 with an hourly candle close suggests bullish momentum towards the Last Resistance for Intraday at 24,603, where profit booking is advisable. If Nifty opens directly near or above 24,459, avoid immediate entry. Wait for retracement near 24,303–24,459 for a better risk-reward setup. Monitor bearish rejection candles near 24,459, as this could signal a reversal towards the "No Trade Zone." Risk Management Tip: For options, consider buying 24,600 CE with strict stop loss based on the hourly close below 24,303. Flat Opening (Near Previous Close at 24,192): If the market opens flat, avoid trading immediately within the No Trade Zone (24,238–24,303). Allow the price to break out or break down from this range. A breakout above 24,303 targets 24,459, while a breakdown below 24,238 may lead to bearish momentum toward 24,109. Monitor price reaction around 24,109 (Best Buy Zone), where retracement buyers might step in for a potential reversal. Risk Management Tip: Utilize strategies like selling Iron Condors to capitalize on the consolidation phase while staying protected. Gap-Down Opening (100+ Points Below Close): If Nifty opens below 24,109, watch for support around 24,025–24,002. This zone represents the Last Support and is ideal for reversal trades if bullish price action appears. Avoid chasing shorts immediately after a gap-down. A pullback towards 24,109 could offer safer entry points for bearish trades. Below 24,002, bearish momentum strengthens, and traders can target 23,900 with appropriate position sizing. Risk Management Tip: For bearish plays, consider buying 24,000 PE with a stop loss above 24,109. Tips for Risk Management in Options Trading: Avoid over-leveraging; use position sizing strategies to manage risk effectively. Trade liquid contracts to minimize slippage. Use hedging strategies like spreads to limit maximum losses. Exit positions early if the market invalidates your levels, rather than holding onto losing trades. Always base your entries on confirmations such as candlestick patterns, volume, or hourly close signals. Summary and Conclusion: For 27th November 2024, the chart suggests a clear game plan with pivotal levels to watch: Bullish above 24,303, targeting 24,459 and 24,603. Bearish below 24,109, targeting 24,025 and 24,002. Avoid trading within the "No Trade Zone" (24,238–24,303) unless a decisive breakout occurs. By adhering to the plan and practicing disciplined risk management, traders can navigate Nifty's movements effectively. Disclaimer: I am not a SEBI-registered analyst. The above analysis is for educational purposes only. Please conduct your research or consult with a financial advisor before taking any trades.
NSE:NIFTYLong
by LiveTradingBox
Father Line not allowing Nifty but gap up support holding.Father line of 200 Hours EMA at 24212 has not yet allowed Nifty to fly freely up and above. today again like yesterday we got a closing below at 24194. Overall it was a flat day with positive movements mainly in IT, FMCG, media and Small Cap index. Once we get a closing above 24212 the next resistance will be at 24360, 24530, 24673 and 24893. After closing above 24893 Nifty has a chance to be in proper Bullish grip. Supports for Nifty on the lower side remain at 24135, 23948 and 23912 (Major Mother line Support of 50 Hours EMA). Below 23912 bears can drag Nifty to 23616, 23362 and finally 23250. Below 23250 Nifty can have a free fall into strong bearish territory. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Massive Gap-up on expected lines, Which way will Nifty go now?After Maharashtra results as expected Nifty gave a gap up opening and sustained above an important level to close the day but can the rally sustain or will it fizzle out. If Nifty can consolidate in the range and cross the important resistance of 24360 while holding the ground above 200 hours EMA of Father line at 24213 we can see a really very bullish rally in Nifty. The supports for Nifty remain at 24213, 24135, 23948 and finally 23821. Below 23821 which is the 50 Hours EMA or the Mother line the rally may Fizzle out and bears will again dominate the scene. Resistnace for Nifty remain at 24369 important trend line resistance, 24530, 24673 and 24893 before we gain 25K levels and we can move ahead. Above 25K we will be in a predominantly Bullish territory again. To know more about Mother and Father lines, trend lines and supports and resistances mentioned in the message and to find them on your own in addition to knowing more about Techno-Funda investing in a nutshell you can read my book The Happy Candles way to Wealth creation available on Kindle and Google Playbook in E-version and on Paperback edition on Amazon. It is one of the highest rated books in that category. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Prediction for 26th November 2024Nifty Prediction for 26th November 2024 nifty moments for intraday and option trading The benchmark index showed significant upward momentum, driven by gains across all sectors. This rally was largely influenced by the NDA's victory in the Maharashtra state elections, which boosted investor confidence. On Monday, the Nifty index surged by 314 points, closing at 24,221.90. The session began with an upside gap, and early buying extended the pullback rally. However, the index lost some of its election-driven momentum, retreating slightly from its intraday high of 24,351 and forming like a Doji candlestick pattern on the daily chart. Despite the slight retreat, the Nifty confirmed a breakout of the Falling Channel pattern with a gap-up opening and sustained levels above the Middle Bollinger Band, indicating a bullish setup for the near term. Momentum indicators further supported this outlook, with the RSI recovering sharply from the oversold zone and showing a positive crossover. Additionally, the MACD exhibited a positive crossover, reinforcing the potential for a reversal. Traders are advised to maintain a positive bias as long as the Nifty remains above the 24,000 mark. On the upside, if the index sustains levels above 24,350, it could potentially move higher toward the 24,500 and 24,700 levels.
NSE:NIFTY
by ARROWINDEX
NIFTY : Trading Levels and Plan for 26-Nov-2024Trading Plan for NIFTY - 26th November 2024 Previous Day's Chart Analysis: NIFTY showed a volatile movement after hitting day high at 25351, and closed near resistance zone that I had already highlighted in yesterdays plan. (highlighted in Yellow ) within the "No Trade Zone," respecting the resistance at 24,432 and support near 24,243 . Bullish momentum ( Green ) was seen towards the upper resistance zones, while bearish ( Red ) price action retraced near the support zones. The key levels of 24,609 (Profit Booking Zone) and 24,041 (Best Buy Zone at Retracement) acted as crucial points for traders. Trading Plan for 26th November 2024: Gap-Up Opening (Above 24,432): If NIFTY opens with a Gap-Up above the critical resistance of 24,432 , it is crucial to observe the price behavior near 24,609 . A sustained breakout above 24,609 indicates bullish continuation, targeting higher levels. However, if rejection is observed near 24,609 , a pullback towards 24,432 is likely, which could act as support. Wait for a retest before entering long positions. Flat Opening (Near 24,250): A flat opening within the "No Trade Zone" requires patience. A breakout above 24,325 (upper range of the zone) signals bullish momentum, with targets of 24,432 and beyond. Conversely, a breakdown below 24,243 could lead to bearish moves targeting 24,105.95 and 24,041 . Avoid trading within the zone to minimize false signals. Gap-Down Opening (Below 24,243): A Gap-Down opening below 24,243 will turn the focus to key support levels. If prices stabilize near 24,105.95 or 24,064.15 , look for signs of recovery to enter long trades. Failure to hold these supports could trigger further bearish moves towards 23,899 . Aggressive traders can short with tight stop losses. Risk Management Tips for Options Trading: Avoid aggressive positions during the first 30 minutes of opening to let the trend settle. Use strict stop losses and avoid over-leveraging. Monitor the option's premium decay and implied volatility if the price remains within the "No Trade Zone." Diversify between directional and non-directional strategies depending on market conditions. Summary & Conclusion: The key to successful trading lies in patience and discipline. Focus on the levels discussed ( 24,609 , 24,432 , 24,041 ) for directional trades, and avoid trading within the "No Trade Zone" ( 24,325–24,243 ) to prevent unnecessary risks. Both bullish ( Green ) and bearish ( Red ) scenarios offer opportunities, provided traders respect the levels and manage their risks effectively. Disclaimer: I am not a SEBI-registered analyst. The above analysis is for educational purposes only. Please consult with your financial advisor before making any trading decisions.
NSE:NIFTY
by LiveTradingBox
NIFTY : Trading Levels for 25-Nov-2024Nifty Trading Plan for 25-Nov-2024 Introduction: In the previous session, Nifty displayed a recovery after testing lower support levels mentioned in plan and closed near day high, with buyers stepping in near the retracement zone ( Green ). The index faced resistance in the 23,873–23,920 range ( Yellow ), leading to sideways movement. For today, the market behavior will depend on how Nifty reacts to key levels, with breakout potential to 24,261 or breakdown risks toward 23,411 . Trading Scenarios for 25-Nov-2024: Gap-Up Opening (100+ points): If Nifty opens above 23,920 , the focus will be on the immediate resistance level at 24,261 : A breakout above 24,261 could lead to a strong bullish trend, with potential targets at 24,350 and beyond. Look for price consolidation above 24,261 before entering long trades. Failure to sustain above 24,261 may result in a pullback toward 23,873 , offering a short-term reversal opportunity. Wait for confirmation of the breakout before entering trades to avoid whipsaws. Flat Opening: A flat opening near 23,873 will bring the "Opening Support / Resistance Zone" ( 23,845–23,920 ) into focus: A bullish breakout above 23,920 could target 24,261 as the next resistance. A bearish breakdown below 23,845 may trigger selling pressure toward 23,759 or 23,684 . Avoid trading within the range ( 23,845–23,920 ) until the trend direction becomes clear. Gap-Down Opening (100+ points): If Nifty opens below 23,759 , the immediate support lies at 23,684 , followed by 23,605 : A breakdown below 23,605 may lead to accelerated selling, targeting 23,411 . Monitor volume and price action for confirmation. A bounce from 23,684 or 23,605 could indicate a recovery, with potential upside back to 23,759 and 23,845 . Be cautious, as a gap-down opening may lead to heightened volatility. Risk Management Tips for Options Trading: Use strike prices close to the spot price for better liquidity and responsiveness. Implement strict stop-losses based on support and resistance zones. Avoid trading during the initial 15-30 minutes after market opening, as volatility may produce false signals. Limit your position size to manage risk effectively during uncertain market conditions. Summary and Conclusion: Nifty is at a critical juncture with key levels at 23,920 and 23,845 acting as immediate resistance and support. A breakout above 23,920 could drive bullish momentum, while a breakdown below 23,845 may lead to bearish continuation. Follow the trading plan and avoid impulsive trades. Always prioritize risk management to safeguard capital. Disclaimer: I am not a SEBI-registered analyst. The analysis shared is for educational purposes only. Please consult your financial advisor before making any trading decisions.
NSE:NIFTYLong
by LiveTradingBox
Nifty might be turning corners if there is no further bad news.The medium term outlook of Nifty is that it might be turning corners if there is no further bad news on Global or Local front. RSI is also turning in the positive or bullish zone. 23251 which was the 50 Weeks EMA or the mother line was almost taken and Nifty took a support at exactly mid channel support. This level be the key going forward. In the monthly closing or thereafter if this support is broken then we might see a bear attack once again. In such a scenario next supports will be at 22825. If this support is broken the next supports will be at 21324, 20313 or even 19133 in case of a global catastrophe of some unexpected even from Ukraine / Russia / Iran / Israel front. As of now 23251 seems to be the bottom. The medium term resistances on the upper side remain at 24432, 25073, 25732 and 26152 before Nifty gains previous highs. Nifty channel top currently seems at 27100 levels. There will be a lot of consolidation and it will take a long time before we reach there (2 to 6 or more months). Difficult to predict exact time frame due to lot of uncertainties on the local and global front.
NSE:NIFTYLong
by Happy_Candles_Investment
NIFTY : Trading Levels for 22-11-2024Nifty Trading Plan for 22-Nov-2024 Introduction: In the previous session, With a Opening Drop in Nifty displayed a consolidation pattern near the support zone with a lack of strong follow-through on either side. The index closed near 23,346.75, hinting at indecision among traders. Key levels have been identified for today's trading, with distinct zones marked: Yellow for sideways movements, Green for bullish trends, and Red for bearish trends. Trading Scenarios for 22-Nov-2024: Gap-Up Opening (100+ points): If Nifty opens above 23,414 , it will likely face resistance near 23,522 . Look for price action in this zone: If rejection occurs at 23,522 , a retracement towards the 23,414 level is possible, offering a shorting opportunity. If an hourly candle sustains above 23,522 , it can target the next resistance at 23,669 . Wait for clear breakouts or rejections before entering trades. Avoid chasing prices in a strong gap-up scenario to minimize risk. Flat Opening: In case of a flat opening near 23,346 , monitor the immediate support at 23,295 : A breakdown below 23,295 can lead to a bearish move towards 23,231 . If Nifty holds the 23,346 level and moves above 23,414 , a bullish momentum toward 23,522 is likely. Trade cautiously in the flat opening zone, as the initial price action might remain range-bound. Gap-Down Opening (100+ points): If Nifty opens below 23,231 , the 23,120 support zone will be crucial: A breach of 23,120 could trigger a sharp sell-off towards 22,986 . If prices reverse from the 23,120 level, expect a recovery rally back to 23,231 or 23,295 . Watch for rejection or reversal candlestick patterns at these levels before entering trades. Risk Management Tips for Options Trading: Avoid trading during the first 15 minutes of market opening to let volatility settle. Use defined stop losses based on hourly candle closings. Focus on at-the-money options for higher liquidity and better premiums. Limit your risk to 1-2% of your total trading capital per trade. Summary and Conclusion: The market's direction today hinges on how it reacts to key levels around 23,414 (resistance) and 23,295 (support). Keep an eye on broader trends and ensure to wait for confirmation signals before initiating trades. Practice strict risk management to safeguard against market volatility. Disclaimer: I am not a SEBI-registered analyst. The above analysis is for educational purposes only. Please consult your financial advisor before making any investment or trading decisions.
NSE:NIFTY
by LiveTradingBox
NIFTY : Trading Levels and Plan for 21-Nov-2024Nifty Trading Plan for 21-Nov-2024 Intro: On 20-Nov-2024, Nifty displayed a volatile session, with the index struggling to sustain above 23,712 , the last intraday resistance. A yellow-shaded "No Trade Zone" highlighted indecisive price action between 23,561 and 23,622 . The index tested support near 23,296 , which aligns with an SMC entry zone and buyer’s support after a liquidity sweep. The green trend depicted potential bullish moves, while the red trend reflected bearish reversals, helping traders prepare for possible outcomes in the upcoming session. Trading Plan for 21-Nov-2024: Gap Up Opening (100+ points above 23,561): If Nifty opens above 23,622 , monitor for a breakout above 23,712 . Sustained movement here could target the Profit Booking Zone (23,815–23,860) . Wait for the first 15–30 minutes to gauge market direction. Failure to hold above 23,622 might indicate a reversal, pushing the index back into the "No Trade Zone." Flat Opening (Near 23,561): A flat opening within the "No Trade Zone" requires patience. Look for a breakout above 23,622 to go long, targeting 23,712 . A breakdown below 23,468 may trigger bearish momentum toward 23,296 or lower. Avoid entering trades in the yellow-shaded zone to reduce risk from whipsaws. Gap Down Opening (100+ points below 23,468): A gap down below 23,441 may result in bearish momentum towards 23,296 , where buyers could provide support. If 23,296 holds, watch for a pullback toward 23,468 or higher. A breakdown below 23,296 could open doors to deeper bearish moves, targeting 22,964 . Use tight stop-losses for short positions. Risk Management Tips for Options Traders: Use stop-losses based on the hourly candle close to avoid getting trapped by intraday volatility. Avoid trading large positions in the "No Trade Zone"; focus on directional confirmation. For gap openings, consider strategies like spreads to manage premiums and volatility. Limit risk to 1–2% of your capital per trade to safeguard against sudden market moves. Summary and Conclusion: Key levels to watch are 23,712 on the upside and 23,296 on the downside. Trade cautiously within the "No Trade Zone" ( 23,561 – 23,622 ). Let the price action guide your trades, with trends expected to be influenced by intraday volatility. Disclaimer: I am not a SEBI-registered analyst. This trading plan is for educational purposes only. Traders are advised to conduct their analysis or consult a financial advisor before making any trading decisions.
NSE:NIFTY
by LiveTradingBox