NIFTY ANALYSIS 09/11/2020NIFTY MOMENTUM MAY CONTINUE, AVOID SELLING AT HIGHER LEVELS TILL WE GET SOME SIGN OF WEAKNESS. DON'T TRY TO PREDICT THE TOP'S, REMEMBER WE ARE NOT IN A HURRY
Niftytradingidea
Nifty 50 Intraday Trade Setup for 09th October 2020Hello everyone,
Nifty has given an awesome move in the upside for the last 2 weeks. The index is still bullish until its not break 11500 but as I said always the Intraday trader doesn't care about the longer trend since the nature of trade is in the very short time frame. The current level is the strongest resistance as per fib and from the previous day swing high.
Chances for correction or a sideways market at the current level so our trade is based on this view. Consider a short position in today's trading session and it has 2 levels.
1st level is 11780 SL: 11835(Closing basis) Target is Open
The second level is based on the volatility of the index. if you have seen any up move in the first trading session and index test 11870-11890 again then open short from the top with a tight SL (11910).
Buying position only and only on confirmation and its come above 11920
Nifty Intraday Trade setup for 17th of August 2020Good Morning everyone,
Hope you guys are doing great and making some money from the stock market.IIn the Friday trading session we had seen a free fall move-in downside from the resistance area. This move was accepted and due to the last week. The main question is does this fall will continue in today's trading session or we will see a short-covering in today's Trading session. Let's see the key factors for today's trading session.
Key Factors
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1-PM said that mammoth steps have been taken to make the country self-reliant in the defense sector, import of more than 100 military equipment has been stopped. From missiles to light military helicopters, from assault rifles to transport aircraft all will be made in India.
2-Russian President greeted the Indian Govt on 74th Independence Day, *India rightfully enjoys high prestige among the international community, and the success achieved by India in economic, social and other spheres is widely acknowledged.
3-The Govt withdraw a controversial tweet that talked about a proposal to bring transactions under the income tax scanner. The tweet was put up by mygovindia. According to the tweet, the Govt proposed to include life insurance premium above Rs 50,000, health insurance premium over Rs 20,000, foreign travel, education-related fees, and donations above Rs 100,000 in a year in the list of Statement of Financial Transactions. Other transactions proposed to be included are the purchase of white goods, jewelry and paintings over Rs 100,000, and Demat accounts and bank lockers.
4-ivatives of crude oil, their prices move in tandem with crude oil prices. Polyplex group’s profitability margins remain susceptible to any adverse movement in the prices of raw materials. The overseas subsidiaries of PCL have availed term borrowing denominated in EURO and USD and hence remain exposed to foreign currency fluctuation on the payment date. Thus the company is exposed to forex risk on account of any adverse movement in the foreign currencies. In this quarter foreign currency gain was recorded around INR 106 Cr
5-The next few months will be "critical" for the country in the bid to revive economic activity and further fiscal measures may be warranted to ensure that recovery gathers pace, Niti Aayog Vice-Chairman said.
6-India’s exports contracted by 10.2% in July, as the trade of major foreign-exchange earners such as petroleum, gems, electronics, and textiles remained subdued.
7-India has recorded over 65,600 coronavirus cases in the past 24 hours, taking its total to 2,525,222. With over 1,000 fatalities reported on Friday, India's death toll has surged to 49,134.
Technical View
================
One thing is clear that Index is now in the correction phase but the main question is what will our entry in Intraday and what position we will prefer. Well, Index is gonna more volatile for today's trading session and we can see a gap up Opening today. 11250-11270 is the Intraday Resistance, and a correction is accepted from here. Nifty Major Resistance area is 11360.
Nifty Major support is on 10875 and Intraday support sits on 11025..
Trade Setup
=======================
There is no buy position in today's trade setup. We, Risky Trader, can open a short if see any gap up or the first hour up move and Index tests 11250-11270 with 11300 stop loss. Safe Traders can wait the first 30 minutes and mark the high lows of first 30-minute candle and setup trade on it.
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take different views and opinions.
Good Luck and Happy Trading
Virendra Pandey
Nifty 50 Intraday Trade Setup for 10th July 2020Good Morning friends,
Hope you guys are doing great and making some money from the stock market. In July month we had seen a choppy start and an infection market. The index is testing 10,840 levels multiple times this week but failed to sustain above on it. In June month we had seen an awesome bull run and index rally was more than 1000 points. Questions are in the index bull run is stop or there is still room to go upside. As per my analysis, the Index is still bullish and can be tested 11,100 but need to sustain above 10,840. Let's talk about the key factor first.
Ket Factors
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1-A slow and steady start in Sgx nifty. The index is trading on 10,975 which is 40 points low from the previous closing. Sgx nifty is also trading on the resistance from the last couple of days and sustaining above on it which is a clear sign for strength. See the below chart.
2-I had predicted Dow move a couple of days ago and it works as per our analysis. Trading on a negative note. Check the below Image to understand the DOW move for the next couple of weeks.
3-COVID-19 cases rose from around 9,000 in the first week of June to over 20,000 in the first week of July.
4-There are also red flags regarding fresh non-performing assets for banks, which may begin to show up after the moratorium period ends on August 31.
5-Stock exchange data also shows a sharp jump in the market share of non-institutional investors (retail investors) participation in the cash segment; this is the highest since August 2009. The share of NICs, which stood at around 50% in FY20, jumped sharply over the last three months and rise to 68%.
6-Global banks face combined loan losses of $2.1 trillion by the end of 2021 as a result of the coronavirus crisis, credit rating agency S&P Global estimates, with a hit of $1.3 trillion this year more than doubling the 2019 level.
7-A fraud of 36.9 billion rupees ($492 million) is being reported to the Reserve Bank of India in the accounts of Dewan Housing Finance Corp., Punjab National Bank said in an exchange filing. The lender has set aside 12.5 billion rupees of provisions pertaining to this incident
8-INDIAN GOVT IS SAID TO TAKE STRICT MEASURES ON STEEL IMPORTS|| INDIAN GOVT PREPARING TO IMPOSE MORE CUSTOM DUTY ON STEEL
Technical View
=====================
10,800 to 11,100 the whole area is supply zone. We had seen a sharp fall on 08th July but yesterday Index has covered the all down move and closed again above 10,800 which is a good sign for Bull. The index is still trading in an uptrend channel so there is no weakness.
Resistance: Intraday Resistance is sitting on 10,850 and the key Resistance is on 11.126.
Support: Intraday support is on 10670 and key support sitting on 10,450
Trade setup
==============
Buy : 10,850 Target:10,890/10,940/11,000 Stop Loss:10,800
Sell : 10,740 Target: 10,690/10,630,10,570 Stop loss : 10,810
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take different views and opinions.
Good Luck and Happy Trading
Virendra Pandey
Nifty 50 Intraday Trade Setup for 22 June 2020Good Morning Guys,
I hope you guys doing good in this weekend and made some good bucks last week. The last 2 days was a big hit in the previous week and we had seen a good rally in Index almost 400+ points in just 2 days. Do not make any view if you're doing intraday and follow simple price action. I do not understand why people make view on a news basis since they're doing Intraday. Retailers are negative because India china clash and market trap most of them and give a good rally in the upside.
Is this a Bear Trap?
Of course, this is a bear trap. Most of the traders have negative thoughts for the market and they're thinking for short but the market is not giving any short and making new high daily. I know most of the things are negative like economic. corona patients numbers but look at the index so be careful at this point and don't short Index without confirmation. Let's Talk about the key factor for Monday Trade Setup.
Key Factors
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1= SGX nifty has closed in friday on 10138 . which is 98 Point low from the previous closing. We can see a profit booking on monday and Index is about to Open 100+ Point Gap down.
2-Diesel Price Hits Record High After Rates Hiked For 14th Day In A Row; Petrol Up 51 Paise*
Diesel price on Saturday hit a record high after rates were hiked by 61 paise per liter while petrol price was up 51 paise, taking the cumulative increase in rates in two weeks to Rs 8.28 and Rs 7.62 respectively.
*Govt is only generating revenue for increasing petrol and diesel prices*
3-HDFC looking to raise up to Rs 14,000 crore to bolster liquidity and expand business
4-Total cases of coronavirus are above than 03 lac.
5- 14-15000 Corona Pateinnt Cases register daily.
6- India is the 4th Heavily Infected Country of COVID.
7- The USA can ban an H1-B visa and it can affect IT sectors.
Technical View
=======================
The index current range is 10400 to 9500. Both levels are so important for the index to see a clear direction. 10430 is also a B point for the Harmonic ABCD pattern. The index can make 11100 if the Index sustains above on it. if Index breaks 9500 then we can see 8750 again so keep an eye on both of Levels.
Trade setup :
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Long: Intraday Resistance is on 10300 and we need to wait for the break out this level about to Open a long position on Monday Session.
Short: Short Position can build lower than 10100.
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take different views and opinions.
Good Luck and Happy Trading
Virendra Pandey
Nifty 50 Intraday Trade Setup for 15 June 2020Good Morning sir's
Hope you guys have made some funs in this weekend. Market Behavior is hard to understand these days. right? Well, It's not if you stop following the news and focus on the technical only. The market is very strong since June 1 and working perfectly as per technical. We are doing mistakes and reading a lot of news for economic crises and corona patient numbers and make the view that the Market will react badly but this is not happening. Is this a Bear Trap? Yes, this is a bear trap and the market is not going to stop until Sjorter views not changed OR until they will not exit.
Conclusion: Stop Predicting the market on news bases and trade with the trend. Let's talk about the Key Factor for today's Trade Setup.
Key Factor
=================================
1- SGX trading on 9811 which is 175 low from Friday high. 100-150 gap down is possible today.
2-PM met senior ministers and officials to review the situation and instructed them to undertake “emergency planning” in the worst-affected states and urban centers, particularly in the national capital. The review came a day after the Supreme Court rapped the Delhi Govt over the “horrendous, horrific and pathetic” situation in the national capital.
3-FM said no late fee will be levied for delayed filing of GST returns by registered entities with Nil liability between July 2017 to January 2020.
4-PSBs have sanctioned loans worth Rs 29,490.81 crore under the 100% Emergency Credit Line Guarantee Scheme, out of which Rs 14,690.84 crore has already been disbursed.
5-The RBI revised the supervisory framework for financial market infrastructure and retail payment systems. This is owing to the bigger role the payment entities have been playing in the last few years.
6-India's Covid-19 death toll crossed the 9,000 marks on Saturday with a record daily increase making it the world's ninth-worst hit nation in terms of fatalities. The tally of confirmed cases also saw the biggest one-day jump of over 12,000 and reached 311,000.
7-Dow slip again. Trading on 390 Points down from the previous closing.
Technical View
====================================
Finally Nifty has filled the gap which is missed 2 times. The first was 30 April and second, we have seen on 1st June. This area is major support now. the range is 9590 to 9690. Look at the chart and we will see that there is nothing wrong and the market follows technical beautifully. Given correction from Harmonic PRZ area and it was a dot reversal and bounce exactly from channel support and from 0.50 fib retracement. 10400 to 10600 is the most important level to watch in the next couple of weeks. If Index sustains above 10600 then there is high chances to make a new high which is 11000-11200.
Resistance: Intraday Resistance is on 10000 Mark. The key Resistance area is 10400 to 10600.
Support: Intraday Support is lower than in 9820.
Trade Setup
==============================
Long: Long Position can build from 2 places. The first level is above 10000. If you see a gap down and Index test 9820 to 9850 then risky traders can Open a long Position from this level also
Short: Build a short position if the Index breaks Intraday support. Confirmation is lower than in 9800.
Note: A trader is always hungry for appreciation. If my view does help you in your trade setup than please like and ask your questions in the comment box.
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take different views and opinions.
Good Luck and Happy Trading
Virendra Pandey
Nifty 50 Intraday Trade Setup for 26th may 2020Good Morning sir's,
Hope this long weekend went good for you. Last we had seen negative sentiment in the market because of RBI governor announcement . Today is the first trading session for this week and main question is does the negative sentiment will be continue or we can see a short covering in today Trading session. Let's the key factor for today Trading session at first.
Key factor
================
1-SGX is trading on 9152. which is 70 points above then previous closing. We are going to see a 45-60 Point gap up opening .
2- Dow looks strong, Trading on 24824 which is 230 point up from previous closing.
3-Most bank and financial stocks may also extend their losses of the previous session after the Reserve Bank of India (RBI) announced the extension of loan moratorium by three months.RBI’s decision to extend the moratorium till August 31 could turn out to be a major negative for the non-banking financial companies (NBFCs), Emkay Global said in a note.
4-Stocks in Europe and Asia gained as investors weighed more signs of economies reopening around the world against the rise in US-China tensions
5- Foreign investors have infused over Rs 9,000 crore into the Indian equity markets in May so far amid attractive valuations of stocks and a mega block deal involving HUL. The inflow comes following a net withdrawal of Rs 6,883 crore in April and Rs 61,973 crore in March on fears of a corona virus induced global recession.
6-he Govt extended the validity of various motor vehicle-related documents till July 31. No additional/late fee will be charged for delays in the validation of documents pending from February.
7-The extension of moratorium by three months beyond May is likely to expose lenders to the risk of some borrowers having the capability to pay skipping repayments, fear bankers.
8-Insurance co's are bracing for large claims on account of Amphan, the cyclone which ravaged West Bengal and Orissa last week. Most of the claims are expected from property, motor and crop insurance sectors.
9-Value erosion in PSUs can limit Govt's disinvestment target. The fall in stock prices has eroded significant value in some of the largest PSUs, which will limit receipts for the Govt.
10-*Current Affairs*: India witnessed the biggest spike with 6,767 positive coronavirus cases and 147 deaths reported in the last 24 hours, taking the total number of Covid-19 cases to 131,920
11-The Tirumala Tirupati Devasthanam Board has decided to sell 50 immovable properties in Andhra Pradesh and Tamil Nadu, worth Rs 23.92 crore through a public auction.
12- Crude is still strong and showing strength in upside.
Technical View
===================
As per my analysis we are going to see a short covering in today trading session but don't think that trend is going to change . Market is still in Negative sentiment so be careful in buy side and trade with less exposure.
Resistance : Nifty Intraday resistance is on 9,170 which is taken by a trend line and key resistance is still on 9,900
Support : Nifty Intraday support is 8,960 which is Friday trading session low. Key support is on 7540
Trade Setup
================
Long : Long Position in Intraday can build if Index break 9,170 and sustain above on it.
Short : Short position can build if Index trade lower then 8,960.
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take the different view and opinions.
Good Luck and Happy Trading
Virendra Pandey
Nifty 50 Intraday Trade Setup for 18th may 2020Hey Everyone,
Hope your weekend went good and you guys enjoy your holiday :P Last week we had seen massive gap up and gap down in Index. 20 lac crore simulation package has given some hope but Market has rejected it badly and Index did not sustain high level (9560) . Currently Index trading in a range. Upside level is 9300 and downside level is 9000 .Government tries their best to not let the market down but Market sentiment rejected there every attempt.
Key Factors
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1 -Some Recent announcement from FM
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A. MNREGA Related- Govt Will allocate additional 40000cr for this now for the migrant Labors who are going back to there home town can also enrol in MNREGA.
B. Ramping Up of Health Sector- Public Expenditure will be increased. Support will be given to Health and wellness centre. All dist will have Infectious Disease Center at Govt Hospitals. Public health diagnostic Labs will be setup at all Block Levels.
C. PM E-Vidhiya Platform- Diksha will be Launched, One Nation One Digital Platform. Community Radio Will also be used. One earmarked channel for one Class will be launched. E-Content for Visually Impaired Children's. *Top 100 University of India to mandatory Launch Online Courses* by 31-05-2020.
D. IBC Related Matters- Debts Related to Covid Pandemics will be excluded from default. No fresh Insolvency can be proceeded for MSME for 1Yr.
E. Companies Act Related- Extension of Compliance was done. Decriminalization of all acts in companies Act. Compoundable offence related matters will be done now through adjudicating authorities. Now total 58 offences are to be settled not by court now but by internal Adjudicating Authority.
F. Companies Act Related- Now Companies can directly list their securities in Foreign Country. Now Companies would be able to list Non Convertible Debenture on Stock exchange. And they will not be treated Listed Companies.
G. All Sectors will now open for Private Sectors- But at least one Public sector enterprise will remain in all sectors. In Notified Strategic Sectors PSE will be reduced to Max 4.
2 Lockdown 4.0: Union home ministry on Sunday extended the lock down for another two weeks till May 31 to contain the spread of corona virus While the detailed guidelines on easing of restrictions were awaited, officials sources said the center is likely to allow public transport and reopening of restaurants and shopping malls subject to certain conditions.
3- SGX seems weak. Trading on 9070 atm which is 39 point low from the Previous closing. Our Index will be open either flat or with small gap down.
4- Dow Has given small recovery. Currently Trading on 23826 which is 192 Point above from previous close.
5- Crude looks good and steady.
TECHNICAL VIEW
====================
8900 to 9000 is key support for Nifty Index . Everything is depend on these levels Index will be a falling knife if not sustain . in last 2 trading session index has made a range from 9300 to 9000. This range will decide that where our Nifty will trade in the may Month.
9300 is an Intraday resistance and long position can be consider on the above this level. Key resistance is still on 9900.
Intraday Trade Setup
=========================
Long : 9170 Sl : 9130 Target : 9195/9240/9280
Short: 9100 SL: 9140 Target : 9060/9000/8945
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take the different view and opinions.
Good Luck and Happy Trading
Virendra Pandey
Long Term View for Nifty 50 - Nifty bull trend is almost OverJust looking on youtube that some kid has made a funny Elliot wave by following his own rules. Peoples like him is totally waste and want to become a TECHINCAL ANALYSIS. Anyways Please take a look at the chart. This is my idea and I believe that Nifty -0.22% has almost achieved our target which is on 11700. I have predicted Nifty -0.22% target almost a month ago on my youtube channel. Tradingview house rules do not allow me to post the video link in the description. If you want to check it then go on my channel and check out the first video of my channel.
Please ask your question to #codevise
NIFTY 50 Trade Setup - 27'th August 2018-What will nifty do now?Hello all,
Explained about support and resistance in the chart. Buy put or sell in futures if those support breakout.
