Nifty Intraday Levels 24-OCT-2024, Sell Trend Continue Today Nifty also reversed near "Reaction Area", we can consider that area as resistance.
Nifty is now trading away from selling area and a pullback is possible from buyer side. Only "Resistance Area" is the most safest place to sell in nifty.
Wait for the price pullback and sell only when price is reversing from selling zone "Resistance Area" Near 24520.
If price is waiting near today closing price and making 3-4 candles in 5 min timeframe then breakdown. We can also sell after that but first wait for the buyers to come and defend the price.
Note : Its just an analysis, wait for the price to confirm.
Disclaimer : Always follow risk to reward, this is the only key to success in market, no matter how much good a trade is looking we never know the future.
Niftysell
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 ABOUT TO RETRACE 700 points.
Price has reacted to a Monthly Supply in the left side, after reacting to the Monthly Supply Price has confirmed downward potential in the Daily chart forming a Supply and there is a Fresh Monthly Demand formed and Price has to retrace into this Fresh Demand hence downmove of 700 plus points.
ENJOJY THE RIDE ! ! !
[{NIFTY TO FALL FOR 2.21% or 400 points}]
Price has formed a Fresh Weekly Demand and should retrace into it for a pullback, therefore this is a counter trend trade, but with a favourable Reward to Risk Ratio.
We have a selling confirmation in Daily and this is a positional Trade in the downward direction should take 15 days to reach the Target.
ENJOY THE RIDE ! ! !
NIFTY OPTION TRADE FOR 200 POINTS!!!
We have a Correction as of now, Price is marching towards the Daily Demand formed @ 17482.05 (SHown in the Chart), This is the Demand area where the FIIs have their unfilled orders, Currently Price is in a Powerful 4H Supply and Price should decline from this area itself hence Buying 17800 PE for April Expiry with a Target of 381.50.
CHEEERRRRRSSSSSS!!!!! ENJOY THE RIDE!!!
NIFTY CHANNEL PATTERN
Hello
Welcome to this analysis about NIFTY , we are looking at daily timeframe perspectives. NIFTY is developing here that will be a decisive factor in the upcoming times. I discovered the main formation NIFTY is developing here that will be a decisive factor in the upcoming times. As when looking at my chart now we can watch there how NIFTY has emerged with this key channel pattern marked in my chart with boundaries. which is an important resistance and also psychological resistance-mark together with the upper -boundary of the channel-formation a pullback
In this manner, thank you for watching my update-analysis about NIFTY and its major channel-formation with the determining factors we need to consider in upcoming times, support the analysis with a like and follow or comment for more market insight!
NIFTY BEARISH BAT (SHORT) !!! SEE WHERE NIFTY IS NOW .... ?
YEAH NIFTY MADE THIS FAR..(GREAT JOB) >>> I ALREADY POSTED A CHART ON THIS AT JUNE 9/2020 >>> SEE MY OLD POST INCASE YOU WANT TO LOL !!!
OK I AM EXPECTING GOOD REVERSAL FROM THE PRZ (PRIZE REVERSAL ZONE ) REDBOX IN THE CHART.... EXPECTING A 1000 POINTS DOWN ( OMG ) !!!
!!! JUST FOR STUDY PURPOSE !!!
Nifty : Short on Rise : Wave 4 CorrectionFundamental Analysis :-
Most stocks had moved way ahead under the bullish scene. With a brutal fall of around 7% in a month in Nifty thanks to the IL&FS episode the bulls have been shaken. Lets look at the reasons for this bearish scenario :
1. IL&FS has defaulted on commercial paper, inter-corporate deposits & others thus rating stands as junk.
2. An uptrend in Crude Oil is causing CAD to widen as exports are slowing and pushing INR towards 75 against dollar.
3. RBI is now in dilemma as inflation is under control but FED has been raising rates and any further drop in INR would mean increase in Interest Rates -- RBI Meet 5'Oct 25 bps hike in interest rates --
4. Nifty PE ratio had reached 28 -- whenever Nifty PE ratio reaches near 27 as in the past correction sets in.
5. General Election Ahead - 2019
Now Technical Analysis :-
We had thought that there was a chance of wave 5 approaching 12200 within october/ november 2018 but after the correction the top has been made and wave 4 correction has started. BankNifty was giving signs of weakness but the fall came unexpected.
-- Wave 4 correction would be fast and deep -- Targets 8100 by early June 2019 --
-- Bias Indicator : Yes Bank -- This stock has corrected by 50 % from the top i.e. 400 even though it is related to removal of current CEO but still we are expecting a fall like this in many Banking Stocks.
Look for NBFC's as a shorting candidate, major private sector banks and even IT sector as we have a doubt they will reap benefits of weaker INR ( look for quarterly results for IT ) --
------ Short on Bounce on Nifty / Stocks ------
------ Accumulate Pharma Stocks on any correction ahead ------
NIFTY July FUT - Elliott Wave Analysis
Greetings traders & readers,
This Analysis for the JULY contract is special because this is a part of our exclusive service Premium trade setups.
To learn more about the Premium trade setup (PTS). click the link below,
www.mytradingcourses.com
Now lets deal with the analysis in weekly time frame and just understand what is happening over there.
We have already discussed that the move from the deep lows have been in the corrective form (triple threes) within the impulse wave 1 in one larger degree and above all we have also given a clear area of resistance & the point of turn, which is what happening currently.
The NIFTY has pierced the area that we have mentioned ( the area around 8333 - 8400 ) and this have been reflected precisely and having done what it is said earlier, lets also find what is about to happen in the near term future for JULY month contract and for the best understanding purposes the analysis have been carried out in daily charts with a detailed video ( which will give a clear perspective over the movements through all this time).
Continued in our website and the same is free,
www.mytradingcourses.com
Feel free to ask for any clarifications through chat / comments in our website ( for instant response) and / or through our trading view Profile.
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Regards,
Dinesh. R
Senior Technical analyst,
LeadBrains - www.mytradingcourses.com - Trading Education & Training firm
NIFTY JUN FUTURES - Elliott Perspective
Greetings Traders & readers,
ONE Happy news for all, from this month we are about to release FREE insights on NIFTY FUTURES for current contract, in the beginning of every month - starting today...!
As you can see from the chart we are about to discuss the analysis on NIFTY in weekly time frames
but before that lets also take as deep look at the monthly charts over here,
From which one can observe four consecutive months of Rally lifting it from the depressions of 2015
But the entire move as we have discussed is purely corrective in its existence.
Don't you think that the market is up for a correction now and lets have a clear insight about what's happening :
The Wave 1 as it is earlier described in previous Posts have been developing into an Leading diagonal and this consists of corrective waves replacing impulse waves in their respective places, here it is triple threes in weekly time frames as you can see from the weekly chart,
However we have something to be discussed in detail without which the analysis is incomplete and that is to dig deeper in daily charts and we have carried the same in our website with a Video explanation - A freebie, do check it out here,
www.mytradingcourses.com
( few Questions of users are also being answered in the video on Previous analysis)
Our humble request to all visiting our website/ trading view profile,
Please support Us - we are not charging for this analysis and we want to keep it that way, so lend us your hand as support...! share this post if you can, spread the word - a word from mouth is really helpful and like us in FB & Follow us in trading view
Thanks in advance...!
Thank you for reading the article
Regards,
Dinesh - senior technical analyst
LeadBrains FSL - www.mytradingcourses.com - Trading Education & training firm
Nifty - Sum of all factors - An Elliott Perspective
Sorry for the discontinuity as we were engaged in some other obsessions
Now to the Analysis,
You never understand a movie by missing a half of it , so don't miss it
THE LONG AWAITED YEARLY ANALYSIS ON NIFTY IS BEING PROPOSED & the same is gaining attention of all fellow trader. why miss your seat. check it out here,
After that do revisit this ANALYSIS,
Each & every trader will definitely find this analysis compelling to read & understand
The NIFTY has reversed from its 2015 LOW's & the important idea here is that the upward move is definitely not an impulsive rally, it is corrective in nature - which opens the gate for varied options as Elliott has described in the Wave Principle. The corrections at initiation of the trend have been classified as a Leading diagonal Triangle.
Trade Accordingly at each levels of individual waves & at this point....
Thanks for your time
Dinesh -Senior Technical analyst
LeadBrains FSL - www.mytradingcourses.com - Trading education & Training firm
Nifty ::: Expected to Sink ::: Risk CallNifty is expected to sink now.
There are many reason why we feel it may sink.
01. It is already trading below quarterly Target 03.
02. Bearish Engulfing in weekly chart
03. To sink and come near 6943 to 6880
04. Stoch RSI (3,3,14,Close) clearly states it may sink.
05. RSI(14,CLOSE) Is also of the same view.
06. CCI(20,CLOSE) Is also sinking.
Keeping all the above indicators in view along with the chart pattern we expect it to sink. As we have budget this week it is a risk to trade Nifty our view is 6943 to 6880. We are expecting this to happen on budget day that is 29 Feb 2016. Caution: The above is our personal view. Neither a recommendation nor a tip nor an advice for trade. Please consult your personal financial advisor before investing. [/b