Nifty My-Levels for 19th June 2023This is not a prediction! And never believe in any prediction either! Just My-Lines to watch if it's respected and PA have an edge will buy or Short. Trade your system, trade what you see!
Niftytrendanalysis
Nifty Trade Setup (30-May-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.
So today market was sideways with 60 points movement only. Market for only scalpers not for trend followers it was expected as there was big gap up opening and when there is big gap opening do expect sideways price action.
As posted yesterday that from price action on 1 Day TF price is moving in rising wedge and today it opened above both horizontal resistances mentioned on chart.
(Unable to post yesterday chart i.e. 29-May-2023 due to basic member)
Now as gap opening and positive global markets and positive earnings from major companies. This gap might act as good support zone which become flip zone (Resistance turned to Support)
Not Expecting any gap downs but still to need as backup plan i will always try to plan my trade setup based on if price opens flat, gap up or gap down.
For tomorrow this will be my trade setup:
1.) If opens flat and will wait for break of the Resistance zone of 60 points which formed today with resistance at 18641 and support at 18580. if it breaks one above then i will look for buying opportunities for target of rising wedge trendline 18670 to 18680.
2.) If opens gap up the will wait to form price action or any rejections from rising wedge trendline for target for todays resistance (18641)
3.) If open gap down and today's support of 18580 becomes resistance then will look for shorting for target of 18560,18510.
Hit like to keep me motivated for keeping my trading journal as it only take less then few seconds to hit like but it gives me motivation for preparing for my session. Also one can comment on how I can make this trade journal better any improvements I need in it :) .
Aascending broadening wedge - NiftyAscending broadening wedge, Bearish reversal pattern accompanied in Regression Channel.
It is visible in the shorter time frame whereas In a daytime frame, it looks bullish. The pattern will be confirmed if nifty goes below the support line.
NIFTY |NIFTYPREDICATIONTOMMROW|NIFTYANALYSIS FOR MONDAYIf Nifty sustain the level of 18500 and spend time and break 18515, then 18550-1875-18600
If Nifty break down of 18500 spend time and break down 18450, then Nifty 18400-18375-18350
This video is for educational purpose and my personal view .We are SEBI registered Advisor,we only give the level on our practical trading experience.
Kindly take the trade according to your risk and reward position and consulting your advisor.
Nifty50 Short (Update)This is second update to Nifty50 Swing Short I Posted couple of weeks ago.
Short is now considered a success with almost 2% move down from the entry, which falls in line with original analysis where we were waiting for break of wedges in USD/INR pair and Nifty50. and we have gotten that now.
Now there is a possibility that the USD/INR pair tests the wedge which can lead to bounce in Nifty which is also evident in Nifty chart with a reclaim of the white line at 18158. So, I suggest a TP here and moving Stop loss to entry or to slightly above the top at 18500 in case you want to hold it for longer term for swing scenario.
I have attached links to the original posts down below and DXY analysis which ties into breakout of the USD/INR pair. Please go through them to understand the context of the short.
NIFTY--Supply acts as Demand@18260??Observations::
--------->> Yesterday price tested the level @18260 level where a strong gap down occurs previously, and again falls back to below 18200 levels.
---------->> we have one more resistance @ 18340 level, if price breaks this level will observe again bullish momentum towards 18450 levels, careful at this level.
If facing resistance @18340 levels and 18260 level or 18200 level acts as support more bullishness is observed.
Supply Acts as Demand@18260 level.
keep track this levels.
Key level of support: 18060 and 17960 levels.
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NIFTY--Breakdown happens ??Observations::
---------->>Price opened gap up and observed a strong fall + consolidation.
---------->> Previous supply zone (gap down) range @18260 level resist the price to go down .
If tomorrow price breaks this level, we will observe a strong fall towards 18200,18120 levels.
if price again breaks 18180 levels, 18120 level acts as a pullback to 18180 level, at this level previously strong sell off is observed, here
(18200-18120) if again strong push to the down side happens price falls below 18060,up to 17960 levels.
---------->> we have an untested demand zone @17960 will push the price upwards again.
---------->> Be careful at (18200-18120) and 17960 levels.
.
NIFTY-Today bullish move created to exit the long positions??Observations:
-------->>Nifty trending upwards, today it proves that it's a retracement not a reversal sign.
-------->> Again showing bullish movement in nifty, witnessed buyers are still in control.
today bullish move created to exit the long positions?? why don't we think sooo....
-------->>We suspect that if it is a false breakout in nifty above 18260 level , this time the fall will be below 18060 levels.
-------->> At this point 18250 level, sellers are exists by showing a huge gap down , why don't we think of sellers may again push the price towards downside.
--------->> If we consider these 2 levels, 18200 or 18100 they are not strong enough to push the price higher, so if price started falling it may clear all these levels, and we have an untested demand zone@17960 levels.
NOTE:
Is this false breakout above 18260.
NIFTY- which level Holds 18200 or 18100 ??
Nifty 08 May 23 to 12 May 23 Short ,Medium and Long TermNifty 08 May 23 to 12 May 23 Short ,Medium and Long Term
Nifty closed at 18069 ( 18090) and touched low of 18042
Nifty touched high of 1827.
Mainly followed the band resistance provided last week ( as mentioned below) due to awaiting of FED decision and followed by drop on last day due to HDFC stocks.
Nifty small Resistances at 18111/18204/18274 ( Prev Highs Shown in thick red , blue and green horizontal lines)
RSI ,MACD and Stochastic are at 62% fall from 75%
So far Q4 have mixed results.
Nifty- short term is Neutral to Long.
Need to decisively close above 18274 to reach targets ext target at 184372/18465 ( fibonacci resitances) .
Nifty small Resistances at 18111/18204/18274
Nifty support at 17869/177741 ( Previous Highs) and 17570/17530 (Inclined two trend line)
Nifty Medium Term -
Nifty need to break decisively above first target 18274 , next target of 18437 ( Fibonacci 0.786 Retracement) followed by prev high 18890.
Nifty Support at 17387- 17340/ 17180/17200/17252
Long term-
Need to decisively close above 18890 ( Previous Dec22 High) to reach targets of 19000/19500/20000
long term support at 16746 ( Sep22 Low)
Long term Investors can accumulate following Mutual Funds
NIFTY 50 Equal weight
Bank Nifty
Nifty IT ( Buy on dip)
NIFTY--Retracement is to Enter Long Again Not for Sell ??Observations:
-------->>Nifty trending upwards (after a huge gap down means not to sell, its a retracement)
---------->>After a strong bullish movement, after breakout from 17800 levels,
----------->>Nifty gives larger retracement towards 18050 levels, this retracement is to enter again long with the momentum upside towards 18300,18500 levels.
--------->> consider this an opportunity to enter long from these zones, not to enter for short.
--------->>Nifty showing pressure on bearish side, but wait and enter for long here, leaving a demand zone @18000-17960 levels. Be on long side with the movement.
NOTE:
NIFTY- Bullish from this zone 18000-17960 ??
#Nifty50 Monday trend levels #Nifty50 Monday trend levels ,As I said in BN post, Nifty is also strong and more likely to go up to 18500 range before bear trap. Wait for bearish confirmation below 18000.
Nifty possible Head-n-Shoulder NSE:NIFTY
If the rally is over, a H&S pattern could play out.
*Not a financial advice.
My charts speaks louder than words.
I'm a chartist and I paint charts.
NIFTY--Retracement or Reversal ??Observations:
--------->> After a strong breakout in nifty @17800 level, no proper retracement is observed.
--------->> If 18200 acts as resistance we will observe a retracement towards 17800 or 17500 levels.
--------->> If price break 18200,we have an immediate resistance @18250-18300, a false breakout may happen here @18200.
---------->>Price wants to test the previous supply @ 17800 level which may act as demand zone to move the price towards upside for the targets of 18200,18500 levels in the upcoming weeks.
--------->>This week price is ranging between 17950-18200 levels.
Note::
Consider it as a Retracement not a reversal in NIFTY.
Nifty Prediction for Todayon 27th April 2023 Spot Nifty Closed at 17915.05 (+ 0.57%)
Pivot Level : 17881.45
Support Level : 17831.30 / 17747.55
Resistance Level : 17965.30 / 18015.35
Scenario 1 :- If Nifty open flat and sustain 17863, we can enter in call option or buy futures for the target of 17950 with Strict Stop Loss of 17843.
Scenario 2 :- If Nifty closes any candle below 17860, buy a put option or sell futures for target of 17885 with very small Stop Loss 17863.
NIFTY --Strong Support @17840 -17800 ?? or Reversal @17500Note:
Strong Support @17840 -17800 will acts as support go long again from this levels to reach 18100,18200 levels.
It is recommended to remain on the buy side within the range of 17800-17840, as no significant retracement has been observed after breaking the supply zone at 17840 level.
If this level acts as support, weekly expiry is expected to be bullish to consolidation at (18100-18200).
Observations:
After trending upwards in NIFTY yesterday, today the price continuously moving upwards,
They are now poised to reach untested supply zones at 17920-18100 levels.
However,, and if any of the previous supply zones act as support, the price could move back upwards.
NIFTY 21st April 2023 SetupBUY Above 17633 (NIFTY 17550 CE) Target 17666, 17700, 17777,17826
Sell Below 17575 (17600 PE) Target 17514, 17483
RISK Traders can start selling at 17615 ( 17650 PE) Target 17575, 17514, 17483
Nifty just 17370 below iam buying plan Nifty just 17370 below iam buying plan................................
So What is happening in Nifty? What to expect this week?Certainly the global headwinds in banking and inflation are rocking the markets all over the world. India with strong economic momentum is a bright spot in global economy but it is still feeling the effect and can continue to feel so in the short to medium term context. In the long run Indian story certainly looks at good valuation. As soon as US Fed signals for a Pause Indian indices will certainly pick up the lost momentum and range bound trading sessions.
The pattern that is forming right now on Nifty is called Base Formation pattern and certainly in past whenever we have seen such patterns we see a 500 to 1000 point rally. At times the base formation pattern fails too and goes for further consolidation at a step below. The step below in this case can be 16747 level if this base breaks or 16347 level as we can read the chart right now.
In case of taking off from this base the major resistance can be near 17543/17532 levels where we have 50 and 200 days EMA. If these levels are crossed the next resistance can be 18170 to 18260 range. If Nifty launches from here the relief rally can be seen. Next week and monthly closing above 50/200 EMA is required for rally to become significant in any way.
NIFTY OPTION SELLING STRATEGY - WEEK 4Hi Friends,
Here is option selling strangle strategy with weekly expiry.
Let see how the markets responds and we will adjust the options only when they hit 80 or above otherwise keep eating premiums.
See you next week
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nifty50 spot view in dcbNSE:NIFTY presently trading at around major support zone and as well as 50% fibonacci retracement zone, hence we may see a reversal move from hereon.
Disclaimer - This chart analysis is only for educational purpose. Do proper research before trade/investment or consult with your financial advisor. This expressed opinion/view/analysis isn't a trade/investment advice/recommendation. SEBI unregistered independent trader/analyst.
Nifty ended the day just below 200 Hours EMA.The rampant run that Nifty started after making a base near 17255 has seen it make a high of 17799 and correct from there to close below 200 Hour's EMA at 17711(200 Hour's EMA is at 17716). Close above 17716 would have been great for the momentum to continue. Now that Nifty has closed below 200 Hour's EMA, Nifty probably will need a support to start next leg of Bull run. If by chance due to global factors Nifty can open with a gap above 200 Hour's EMA it can continue the bull run again with same momentum. Hourly RSI is at 65.7 which has corrected from 3 weeks high of 74.83. This also indicates need of little bit of consolidation before further bull run. Current squeezing pattern indicates peak 18100 or 18400 if the momentum continues.
Important Supports: 17681, 17559, 17435 and finally 17255.
Important Resistances: 17716, 17802, 17923 and finally 18007.
