NIFTY 50 all set to fallNIFTY 50 is currently trading around 18727 and has reached at major Daily and Weekly resistance area and current price action doesn't show any signs that it break break the resistance so my idea is it will be bearish during this week. Below is the possible sell opportunity
Sell around 18727
STOP LOSS: 18803
TAKE PROFIT 1: 18559
TAKE PROFIT 2: 18383
use proper money management and this analysis is for educational purpose only and not a financial advise.
Niftytradesetup
18768 to 18778 proving to be resistance once again. The Ten point range between 18768 to 18778 proving to be resistance once again. Nifty however closed above the strong support of 18728. Other supports for Nifty are 18656 to 18639 zone (Strong Support). Below this area Nifty has support only near 18555, 18465 and 18417. Resistances for Nifty on the upper side if it crosses the zone of 18768 to 18778 are near 18831 and 18887.6 (Previous All Time High).
nifty possible go down side from tomorrowI did an analysis on the 5 minute chart frame and its falg and road pattern, and nifty also gave a retest, therefore according to my analysis, nifty will open gap down on June 15th.
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Nifty Trade Setup (13-June-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal.
Head & Shoulder pattern on higher time frame of Nifty. If nifty respects this pattern then we can expect good move downward.
On Upside Resistance is at : 18660,18777.
On Downside support is at : 18550,18500, (If market respects pattern then 18400 last support.
From last week all indices are range bound and not good for directional trades setups.
For Trade Setup today:
1.) Will buy if break and sustain above 18660 for target of 18720, 18750.
2.) If price breaks down and sustains below 18550 ( Neckline of Head & Shoulders pattern ) then will short for target of 18502, 18460.
No trades if gaps and if there is no clear movement or there are overlapping candles.
Nifty Trade Setup (12-06-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal.
Trade setup for tomorrow:
1.) If opens flat and takes support at trendline then will buy for target of PDH. If it breaks trend line and 1st support then will short for target of next supports ( 18470, 18450)
2.) If gap up or down then will trade only after clear setup. look for support or PDH/PDL as resistance and once good setup is formed i will trade.
Go long Go Blue. It might be a gap up/down morning tomorrow, but all we traders need to think is should we ignore the reversal pattern that erases bearish momentum at each interval since past 3 months, yeah because this will be the choice in front of you to decide whether we support the narrow lane of downside or enjoy the swift train which has stations above 19000 levels.
Nifty Weekly Analysis for Jun 12 - 16🔍 Analysis on Nifty for the Upcoming Week 🔮
Jun 12 - 16
The Nifty index seems to exhibit a bullish trend in both long-term & short-term as well, according to the market structure.
📈 Key Levels to Monitor:
In the upcoming week, it's important to monitor key levels 18250, 18530, 18535, 18660, 18775, & 18885.
🔎My outlook:
The outlook for the upcoming week’s trading suggests a non-directional market, potentially characterized by a sideways pattern.
📈 Bullish Scenario:
If Nifty breaks out above the significant level of 18780, supported by a strong and clear daily candle, it could indicate a bullish market trend.
📉 Bearish Scenario:
However, if Nifty breaks down below 18530, confirmed by a strong and clear daily candle, it may signal a decline towards the 18250 level.
📊 Support Level:
As long as Nifty sustains above the support level of 18530, the market can be viewed as bullish.
Nifty Trade Setup (7-June-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal.
Nifty moving in triangle pattern from Daily Time Frame and from past 3 days price action was range bound and consolidating between 150 points from past 3 days.
For tomorrow setup:
1.) If opens flat will buy only after break and retest of this triangle pattern. For target of near by Resistance 18700, 18720.
2.) If open gap up or down then will wait for price action and good setup to form as its range bound from past 3 days.
will not trade if there is no good setup as it is from past 3 days.
Support is placed at 18590,18560 and 18500
Resistance is place at 18665, 18640.
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 Trade Setup (05-June2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal.
For tomorrow's Setup:
1.) If opens flat in descending triangle and breaks the triangle on upside then will buy for target of Resistance levels 1st at 18574, then 18616.
2.) If opens flat in descending triangle and breaks the triangle on downside and also breaks trendline support then will short for target of Support level of 18419.
3.) If there are any gaps up or down then will look for Resistance or Support and will trade accordingly or only after formation of price action.
NIFTY--Turned to be Bullish Again??Observations::
Price is exactly closed near the Previous Strong Resistance,
If this acts as support will observe bullishness towards 18600,18700 levels.
If price breaks 18700 levels, it may touch ATH as well...will see this later, it will touch or not.
Until Keep watch these levels.
We have a demand zone @18200,which is a strong demand may acts as support again.
Nifty Trade Setup (02-June-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal.
Trade Setup for today :
1.) If opens flat and take support at current level i will buy for the target of Resistance Zone marked in chart. If doesn't hold yesterday support then will look for short for target of next support zone.
2.) if gap up will wait for price action form to see if any good setups are forming like yesterday.
3.) If gap down same as point 2.
Hit like if you feels so :)