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NIFTY--Retracement or Reversal ?? The price has exhibited significant bullish momentum starting from the 19,200 levels. However, before attempting to challenge the bearish gap left at the all-time high (ATH), it's likely to experience retracements towards previous resistance levels. Should these resistance levels fail to sustain upward pressure, a notable bearish reversal could become apparent. Following a period of strong bullish movement, the price appears to have entered a ranging phase. During this phase, it may be prudent to consider short positions, anticipating the possibility of price offering discounts before potentially resuming its upward trajectory. If retracement failed, they will take the price entirely to the bottom side...keep safe before long. Reversal may occur.
NSE:NIFTY
by IIT-Trader
3
NIFTY--08/09/23I 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. 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.
NSE:NIFTY
by IIT-Trader
9
Nifty 50 for 9/6/2023Hello Traders, Hope you're well. Today, buying options, especially Puts, was tough as the market made three peaks and premium prices dropped fast. Even if you were right about the direction, it was hard to hold onto your trade. Earlier, we pointed out that 19,230 was a good buying area, and it turned out right. We saw a 350-point rise from there. Many expected the market to go below 19,230, but it surprised us by going up to 19,574.50. What's next? Read below. Support Areas for Nifty 50: Two buying zones to watch are around 19,482 to 19,452. Wait for the market to hit these levels before buying. Aim for 19,527 and 19,562 with a stop loss below 19,445. Be patient and don't rush into trades. If Nifty goes under 19,440, be prepared for a drop to 19,260. Resistance Areas for Nifty 50: The high today was 19,587, a strong resistance. We think the market might return to these levels to shake out sellers and attract new buyers. If Nifty goes above 19,587 and then drops back down, consider buying Put options (PE) with a stop loss at the highest point of that drop. This could result in an 87-point move to 19,500. Personal Opinion: While we've given different scenarios, our personal view is that if the market stays above 19,600 for a whole day, it could aim for 20,000 soon. Many traders are still ready to buy Puts, and sentiment remains unchanged. Please note that I am not a SEBI registered advisor, and these trades are for educational purposes only. We recommend focusing on intraday trades and avoiding holding positions overnight.
NSE:NIFTY
by kIRANANGARKAR
NIFTY--Consolidation + Bullish ??Nifty index, After breaking a trendline failed to move upside.... Now after 3 successive gap ups price tested the support again and showing us strong bullish in action. multiple times price taken the reversal from 19500 levels... this level is failed to take the price downside... If this strong bullish momentum will clears an obstacle to reach the bearish gap left @19750 levels... then will soon that level be tested. If price opens up and may continue upside... or if price may gives us some retracement to 19380-19360 levels will look for long , gives us discount. Its already giving discount after 3 successful gap ups, saying I am bullish we have resistance @ 19600 may gives us pullback if it is a bullish scenario. this is the only shortcut way to reach the resistances again... If we see at 19300 levels price consolidation + moving upside means a chance of bearish again...keep safe before long after these resistances. will see in the next session what happens...
NSE:NIFTY
by IIT-Trader
2
NIFTY--Drop Base Drop or Bullish ??NIFTY index, 3 continuous bullish gaps indicating bullishness... Gap up opening and filling the gap and again gap up opening ... this happens in the last 3 successive sessions.... In higher time frame price action is still bearish, After a strong break above the 19500 levels... a strong fall is observed up to 19300 levels... the liquidity grab on bottom side is finished... and now price is moving in a bullish channel,with 3 continuous bullish gaps.... if this move continuously happens to top side... tomorrow the liquidity on the topside @19650 levels will be finished soon. Keep safe...
NSE:NIFTY
by IIT-Trader
10
Nifty 50 Analysis for 9/1/2023Hello Traders, Today was challenging, with an expiry that wasn't particularly straightforward. I had initially planned to buy over 19232 with a stop loss of 10 points. However, as the market approached this level towards the close, it didn't seem like an attractive buy to me. Here's my analysis for the upcoming days: Nifty 50: Buy Recommendation: Consider entering around 19231, targeting 19330. Set a stop loss at 19210. Sell Recommendation: Look to sell only around 19452, but ensure there's a confirmation of an RSI SMA breakdown. Currently, I observe two resistance levels ranging between 19452 and 19482. Initiate a sell position when the price dips below 19452, targeting 19376. Personal Insight: I'm quite confident that 19232 is a robust buying zone. Additionally, I've noticed a significant bullish divergence on the 15-minute timeframe over RSI. If the market breaks below 19232, I anticipate a sharp decline to 18886. However, before such a move, the market might lure many into buying. Given the prevailing sentiment, many expect the market to breach the 19232 level. This makes me believe that market operators might capitalize on this sentiment, driving prices higher before offloading their positions. Disclaimer: Please note that I am not a SEBI registered trader. The above analysis is purely for educational purposes. Always trade at your own risk. Happy Trading, everyone! I welcome your suggestions and insights in the comments below. Warm regards, Kiran Angarkar
NSE:NIFTY
by kIRANANGARKAR
NIFTY INTRADAY LEVELS FOR 30/08/2023BUY ABOVE - 19370 SL - 19320 TARGETS - 19440,19470,19520 SELL BELOW - 19320 SL - 19370 TARGETS - 19230,19140,19070 Previous Day High - 19378 Previous Day Low - 19310 I am sharing NIFTY levels this levels acts as important support & resistance for intraday. if you want to trade with this levels wait for 15 min Candle closing above that levels. You can trade with breakout and reversal both. In this channel, I share my expertise in trading strategies, technical analysis, and market trends to help you make informed decisions in your trading ventures. Stay tuned for daily updates, in-depth market analyses, and real-time trading scenarios to witness firsthand how we transform from Zero to Hero in the trading world. My Only aim is to empower you with the knowledge and skills necessary to navigate the complexities of the financial markets successfully. Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day. Please NOTE: this levels are for intraday trading only. Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. Request your support and engagement by liking and commenting & follow to provide encouragement HAPPY TRADING 👍
NSE:NIFTY
by Jagadheesh_JP