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Niftytrend

From where can we see a turnaround in Nifty?After making a new high there has been relentless bout of Profit booking seen in Nifty. Volatility index probably peaked at 26.145 on Monday. It has come down a bit today to 24.175 but still it is in not relenting. Many stocks and indices seem to be hitting the oversold zone but still there might be little more pain in store for the investors this week. Probable turnaround zone for Nifty or supports are at 22685. If 22685 today's low is broken tomorrow Nifty can fall further to 22495 region. The zone between 22495 and 22382 has many strong supports including 50 days EMA Mother line and Mid-channel support. If by any chance 22382 is broken Nifty can see further free fall as bears will take full control. In such an unlikely scenario next supports will be at 22057, 21827 or even 21712.(In highly unlikely case of results not coming in favour of the ruling party) Nifty can fall further to 21195 or below. In case Nifty turns around from 22685 or from the zone between 22495/22383 the next resistances will be at 22829, 22990, 23140. Top of the current trend and channel top seems to be near 23266 region. In case the ruling government comes with a sound majority without facing any hurdles we may even see Nifty breaking the channel top and might go towards 23350, 23500 or even 23600 region.
NSE:NIFTY
by Happy_Candles_Investment
1
NIFTY INTRADAY LEVELS FOR 29 MAY 2024BUY ABOVE - 22950 SL - 22900 TARGETS - 23000,23100,23180 SELL BELOW - 22850 SL - 22900 TARGETS - 22780,22710,22640 NO TRADE ZONE - 22850 to 22950 Previous Day High - 23000 Previous Day Low - 22850 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. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. 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
Understanding the Bullish Momentum in S&P CNX NIFTY: AnalysisUnderstanding the Bullish Momentum in S&P CNX NIFTY: A Detailed Analysis The S&P CNX NIFTY, a crucial benchmark index in the Indian stock market, is currently exhibiting significant bullish momentum. With its spot price hovering around 22,957.1, close to the pivotal 23,000 strike price, there’s a clear indication of robust market activity and investor confidence. In this blog, we’ll delve into the specifics of this movement, examining the data on traded contracts, open interest, and changes in call options, to provide a comprehensive understanding of what this means for traders and investors. Key Data Points - **Spot Price:** 22,957.1 - **Strike Price:** 23,000 - **Max Traded Contracts:** 4,860,989 - **Call Open Interest (OI) (All Strike Prices):** 98,551.95 K - **Call Turnover % Change (All Strike Prices):** 152.79% - **Call Contracts % Change (All Strike Prices):** 150.70% - **% Change in OI (All Strike Prices):** 62.43% Breaking Down the Numbers Spot Price vs. Strike Price The spot price of the S&P CNX NIFTY is at 22,957.1, just shy of the 23,000 strike price. This proximity to a significant psychological and technical level suggests that traders are closely watching this threshold. It often acts as a key battleground for bulls and bears, influencing trading strategies and market sentiment. Maximum Traded Contracts A whopping 4,860,989 contracts traded at the 23,000 strike price underscores the high trading activity and interest. This volume signifies that a large number of traders are actively participating at this level, betting on the direction of the NIFTY. Call Open Interest (OI) With call open interest standing at 98,551.95 K across all strike prices, there’s a clear indication that traders are predominantly taking long positions in call options. This high open interest reflects expectations of further price increases, as call options provide the right to buy at a predetermined price, benefiting from upward movements. Surge in Call Turnover The 152.79% increase in call turnover points to a significant rise in the value of call options traded. This surge is likely driven by increased buying activity, suggesting a strong bullish sentiment. Traders are willing to pay more for call options, anticipating that the NIFTY will continue its upward trajectory. Increase in Call Contracts The number of call contracts traded has jumped by 150.70%. This substantial increase reinforces the bullish sentiment, indicating that more traders are entering the market with a positive outlook. The rise in call contracts suggests growing confidence in the market’s upward potential. Change in Open Interest The open interest has risen by 62.43%, showing that a large number of new positions are being created. This increase in OI is a strong signal of market engagement, with traders committing capital in anticipation of further price movements. High open interest typically correlates with increased liquidity and market depth. Conclusion The data paints a picture of a bullish market sentiment for the S&P CNX NIFTY. The close proximity of the spot price to the 23,000 strike price, coupled with high trading volumes and significant increases in call turnover, contracts, and open interest, all point towards a market poised for upward movement. Traders and investors are clearly optimistic about the NIFTY’s prospects, positioning themselves for potential gains as the index approaches and potentially surpasses the 23,000 mark. Market Sentiment and Future Outlook The bullish outlook on the NIFTY could be driven by several factors, including strong economic indicators, positive corporate earnings, or favorable market conditions. However, it’s essential for investors to remain vigilant, considering broader market trends and potential risks. While the data suggests optimism, market dynamics can shift rapidly, influenced by global events and domestic policies. Disclaimer This analysis is intended for educational purposes only and does not constitute financial advice. Investors should conduct their own research or consult with a financial advisor before making any investment decisions. Understanding market trends and data is crucial, but so is considering your risk tolerance and investment goals. By keeping an eye on these indicators and understanding the underlying market sentiment, traders and investors can make more informed decisions, leveraging the bullish momentum of the S&P CNX NIFTY to their advantage.
NLong
by ruelfernandes
Not much room to grow for Nifty unless it breaks the channel. Nifty hit the channel top today and immediately receded as there is not much space left of it to grow. Either it has to break the parallel channel and go above it or it has to fall to cool down the RSI and then come and fight to make a new high. It is obvious that as we hit levels above 23K there will be bout or bouts of profit booking too. With election results around keep expecting such volatile ralles and snap rallies. Supports for Nifty on the lower side are at 22877, 22775, 22716 and 22457. Below 22457 Nifty becomes a little weak. Resistances on the upper side for Nifty are at 22999, 23053, 23110 and finally 23150. Shadow of the candles is absolutely neutral.
NSE:NIFTY
by Happy_Candles_Investment
NIFTY INTRADAY LEVELS FOR 28 MAY 2024BUY ABOVE - 22960 SL - 22910 TARGETS - 23020,23100,23180 SELL BELOW - 22910 SL - 22960 TARGETS - 22850,22780,22780 NO TRADE ZONE - 22910 to 22960 Previous Day High - 23100 Previous Day Low - 22910 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. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. 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
NIFTY - Quick Analysis - 23rd MayTwo weeks back when we had a look at the NIFTY, the index was moving down after making a double top like formation, it was approaching a good support zone around 21710-21840. It did take support from this zone, reversed and started moving up. Then we had a Bullish “W” like pattern. Now it has taken out the previous rejection zone at 22795-22550. Today we saw a Bullish widespread bar on increased volume closing at the top. We can see the momentum also flipped to the positive side. Now we can expect the NIFTY to move to the top of the inclined channel or the supply line of the inclined channel. The top should be around 23300 from where we could see a reaction. So next week we could see the NIFTY approaching this level and it could hover around this level till election result. And quite possibly. based on the Election result on the June 4th, it may break about the channel supply line and move into a higher trajectory.
NSE:NIFTY
by karthikmarar
U-formation on cards if resistance at 22632 is cleared by Nifty.It looks like Nifty can create a U formation if the resistances at 22632 is cleared and we get a proper closing above it. However for perfect U-formation the Nifty will have to cross other resistances at 22693, 22734, 22768 and finally 22794. In case we do not get a closing above 22632 and Nifty returns the supports for Nifty will be at 22536, 22484 and 22445. Below 22445 there are important support levels of 50 and 200 EMA which are 22409 and 22345. Below 22345 Nifty becomes very weak and Bears take over the market. Shadow of the candle is neutral to positive for tomorrow.
NSE:NIFTYLong
by Happy_Candles_Investment
1
NIFTY INTRADAY LEVELS FOR 23/05/2024BUY ABOVE - 22640 SL - 22590 TARGETS - 22710,22780,22830 SELL BELOW - 22550 SL - 22590 TARGETS - 22500,22440,22350 NO TRADE ZONE - 22550 to 22640 Previous Day High - 22640 Previous Day Low - 22500 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. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. 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
NIFTY INTRADAY LEVELS FOR 22/05/2024BUY ABOVE - 22550 SL - 22500 TARGETS - 22590,22640,22710 SELL BELOW - 22500 SL - 22550 TARGETS - 22440,22350,22300 NO TRADE ZONE - 22500 to 22550 Previous Day High - 22590 Previous Day Low - 22440 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. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. 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
NIFTY 300+ Points Gain Target 3 ReachedSo, far this has been my safest strategy to trade Nifty: Apply the indicator 'Risological Astra' Set Nifty to 15 min time frame BUY CE side if the price closed above the Astra dotted line. I buy the monthly contract ONLY, with this strategy. Sell 50% when the price reaches TP4. Hold remaining 50% till the price crosses under the Astra dotted line. This trade gave me 315+ points (unrealized PnL) Ofcourse I will be selling 50% at TP4 and hold the remaining till the price crosses under the astra line. I wish you all, good luck and happy trading.
NSE:NIFTYLong
by ProfitsNinja
Good move ahead if mid channel support is held by NiftyGood move ahead for Nifty can hold the levels of 22470 and give a closing above 22522. Incase we get a closing above 22522 the resistances ahead will be 22587, 22658, 22730 and 22800+. In case Nifty gives a closing below 22470 the supports will be at 22345, 22246 and 22055. 22522 is however a strong trendline resistance and gap up opening and holding above it is the way to overcome it faster. Shadow of the candle is positive for the beginning of the week.
NSE:NIFTYLong
by Happy_Candles_Investment
NIFTY INTRADAY LEVELS FOR 21 MAY 2024BUY ABOVE - 22500 SL - 22430 TARGETS - 22550,22600,22640 SELL BELOW - 22430 SL - 22500 TARGETS - 22350,22300,22230 NO TRADE ZONE - 22430 to 22500 Previous Day High - 22500 Previous Day Low - 22350 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. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. 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
4
JK Lakshmi Cements: It could break either way. Be prepared.Key Zones Supply Zone (Resistance) represented by the Red Box. The price has shown a clear rejection in this zone multiple times, indicating strong selling pressure. Demand Zone (Support) represented by the Green Box. Historically, this zone has acted as a strong support, suggesting buying interest in this area. Patterns and Trendlines RSI (Relative Strength Index): Current RSI is around 40.73, suggesting the stock is approaching the oversold territory, but not quite there yet. Key Levels to Watch Resistance: 875 - 900 INR (Supply Zone) Support: 675 - 725 INR (Demand Zone) Intermediate Support: 723.10 INR Possible Scenarios Bullish Scenario: If the price breaks above the descending triangle's upper trendline, it could challenge the supply zone around 875-900 INR. Confirmation would require a strong breakout with high volume. Bearish Scenario: A breakdown below the descending triangle’s lower trendline and the support at 775 INR could lead to a drop towards the demand zone around 675-725 INR. The gap fill mentioned in the chart could be a target area in the event of a breakdown. Conclusion The chart shows JK Lakshmi Cement at a crucial juncture within a descending triangle pattern. Watch for a breakout above the triangle for a bullish move towards the supply zone. Alternatively, a breakdown below the current support could lead to further downside, targeting the demand zone and potential gap fill area. Monitoring volume and RSI will be key in confirming any breakout or breakdown. Overall, traders should keep an eye on these critical levels and patterns to make informed decisions. DISCLAIMER: EDUCATION PURPOSES ONLY. NOT FINANCIAL ADVICE.
NSE:JKLAKSHMI
by MysticMads
India NIFTY Mid Cap Select Index - $NIFTY_MIThis is one of the individual charts on this weeks MAcro Monday48 The India NIFTY Midcap Select Index is a stock market index that represents the performance of 25 mid-sized companies listed on the National Stock Exchange (NSE) in India. Stocks are selected from the Nifty Midcap 150 index based on availability for trading in the Futures & Options segment, market cap and average daily turnover. Stock weights are based on free-float market capitalization. Here are the top 5 holdings of the NIFTY Midcap Select Index along with percentage allocations and brief descriptions: 1. Indian Hotels Co. Ltd (7.1%): IHCL and its subsidiaries bring together a group of brands that offer a fusion of warm Indian hospitality and world-class service. These include Taj – the iconic brand for discerning travelers, SeleQtions, Vivanta, Ginger, and amã Stays & Trails. 2. Persistent Systems Ltd (5.69%): Persistent Systems is a global company specializing in digital engineering and enterprise modernization services. They offer solutions in banking, financial services, healthcare, life sciences, and technology sectors. 3. Cummins India Ltd (5.65%): Cummins designs, manufactures, sells, and services diesel and alternative fuel engines, generators, and related components. They are known for their innovation in power solutions and corporate responsibility. 4. Lupin Ltd (5.40%): Lupin is an Indian multinational pharmaceutical company and one of the largest generic pharmaceutical companies by revenue globally. Their key focus areas include pediatrics, cardiovascular, anti-infectives, diabetology, asthma, and anti-tuberculosis. 5. Housing Development Finance Corporation Asset Management Company Ltd (5.21%): HDFC AMC operates as an investment management firm, offering portfolio management and advisory services to individuals, institutions, trusts, private funds, charitable organizations, and investment companies in India. Please note that these holdings are subject to change over time based on market conditions or fund manager decisions, however this is on the 2024 prospectus. - The India NIFTY Mid Cap Select Index chart is more promising than the Ishares MSCI India ETF. - There is a defined upward channel under which the 21 week SMA is providing support. - We have broken recent highs, local resistance and a have a DSS Bressert Cross turning up. All three are bullish signals. - A great risk reward set up is available here at 11:1. You can alter this to suit your risk tolerance or how long you want to remain in the trade. I would be inclined to lower the stop because the RR is weighted heavily to the upside. - It is possible that we get a retest of the breakout area also, but given the DSS Bressert Cross and upwards momentum, I lean more directly bullish. There is a currency risk with the second trade in the NIFTY Mid Cap Select Index as it is denominated in the Indian Rupee (INR) which has been on a long term decline against the USD since Aug 2011. If we were to move to the bottom of the current long term pennant we could lose c.5% in currency devaluation in this trade. This could happen over a couple of months, so its something to keep an eye on. Here is the INR/USD Chart.
NSE:NIFTY_MID_SELECTLong
by PukaCharts
Technical Analysis: NIFTY 50's Recent Shifts and Future ProspectHello, TradingView community! Today, we're diving into a detailed technical analysis of the NSE:NIFTY index, which has shown some interesting movements lately. We'll break down the technical signals, look at the potential implications, and discuss what to watch out for in the coming days. 🔍 Overview of Recent Trends The NIFTY 50 has been following a well-defined upward trend channel over the past several months, making consistent gains each time it hit the upper boundary. However, recent patterns suggest a change in dynamics, which we need to scrutinize closely. 🔁 Current Technical Setup Most notably, the NIFTY 50 recently deviated from its usual pattern by not reaching the upper boundary of the trend channel before reversing its direction towards the lower boundary. This could be an early sign of weakening bullish momentum. 📉 Significance of the Double Top Pattern The formation of a potential Double top, a classic bearish reversal indicator, adds weight to concerns about a bearish shift. While this pattern is not yet confirmed—since we haven't seen a definitive breakdown below the neckline—it's a development that warrants attention. 📊 Intersection with the 100-day SMA The recent drop of -1.5% in the NIFTY 50 brought it down to the lower boundary of the trend channel, which coincidentally aligns with the 100-day Simple Moving Average (SMA). This SMA has historically served as a strong support level, often triggering rebounds. 🔄 Potential Outcomes Bounce Back: If the 100-day SMA and the lower boundary of the trend channel hold up, there's potential for the NIFTY 50 to rebound towards the mid or upper boundary of the channel. Bearish Reversal: A decisive close below the 100-day SMA & Neckline of Double Top could indicate a more significant Bearish Trend or the start of a consolidation phase. 🌐 Broader Market Context Quarterly Earnings: The index is feeling the pressure from non-impressive Q4 results for 2024. Lackluster corporate earnings can dampen investor sentiment and lead to a reevaluation of stock valuations. Volatility Index Rise: The NSE:INDIAVIX , which measures market volatility, is on the rise. This indicates increased uncertainty among investors, as they price in a higher potential for market swings. FII Activity: There has been significant selling by foreign institutional investors (FIIs), contributing to downward pressure on the index. FII flows are crucial as they represent substantial investment volumes and can influence market direction. US Federal Reserve's Stance: The hawkish stance of the US Federal Reserve, signaling potential interest rate hikes, is also a critical factor. Higher US interest rates can lead to capital outflows from emerging markets like India as investors seek higher returns in US assets. These points illustrate how external factors are intricately linked with the movements of the NIFTY 50 index and should be considered when analyzing its future direction. 📈 Trading Strategy Recommendations For those actively monitoring the NIFTY 50, it's crucial to keep a close eye on the 100-day SMA and the lower trend line of uptrend channel. These areas serve as critical junctures that could determine the market's short-term direction. "In the world of Market, it's not about how much you know, but how well you understand what you know and how you apply it in uncertain times." To conclude, while the NIFTY 50 presents an intriguing technical setup, traders should proceed with caution given the current uncertainties and the index's recent behavior. This analysis is intended to enhance understanding and encourage informed decision-making. Keep watching these indicators and adapt your strategies accordingly to navigate through these potentially choppy waters. Lastly, thank you for your support, your likes, Follows & comments. Feel free to ask if you have any questions.
NSE:NIFTY
by AfnanTAjuddin
Good closing by Nifty just above mid-channel resistance. Nifty saw a good closing today above mid channel resistance but could not hold on to higher levels as it found the resistance at 22502 to hot to cross. 22502 was today's high and might act as a resistance again tomorrow. If this level is crossed and we get a closing above it the next resistance levels will be at 22587 and 22658. Above 22658 bull have potential to take full control of the market and in such a scenario we can see Nifty climbing to the highs of 22730 and 22801 in the coming week or weeks. On the lower side, today's low of 22345 is a good support followed by Mother line support of 50 Hours EMA at 22235. Below 22235 Nifty becomes week and we might again see the levels of 22055, 21937 and 21815. Below 21815 closing Bears take total control of the market. Nifty is interestingly placed with shadow of the candle being neutral and it was a Doji candle that we saw today emphasizing the tussle between bulls and bears or shall we call it a tussle between FIIs and DIIs + Retail investors?
NSE:NIFTY
by Happy_Candles_Investment