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Nifty for 6th October 2023 - Weekly ClosingAs Expected ( Please refer to the linked post) Nifty opens with an up gap at 19521, which is near immediate resistance i.e. 19544-19550. Since it was a gap-up opening of approximately 100 points and near resistance, creating new long positions immediately makes no sense. Why was I expecting a Gap-up opening today? 1. Prices bounced twice from the support area during the day. 2. Prices closed well ( in spite of weakness during the day) 3. RSI was at support ( 40 levels) 4. Hammer-like candle formed at support Today's Price Action 1. Opened Gap up 2. Prices Halted at resistance during the first hour. 3. No sell-off from resistance. 4. Prices consolidated around the resistance area( 19544-19550) 5. Higher High, higher low, gap up indecisive candle. Expectation for Tomorrow - Friday, 6th October 2023 1. Prices might open with an up gap tomorrow, how far don't know. 2. Immediate Resistance @ 19638 3. Prices should sustain the 19543 level for a move towards 19638 levels. 4. Expecting 80-100 points move tomorrow. Why am I Expecting a Gap up tomorrow 1. No sell-off after a gap-up opening near resistance 2. Prices consolidated well on the hourly and 15-minute chart
NSE:NIFTYLong
by manuagarwal21
Will bull be able to hold NIFTY today?NIFTY yesterday was total bearish but in 2nd half Bulls came and took charge and all market reversed back in bullishness. as PCR = 0.85 (Bullish) and also market is back into pattern. so its assumed that bulls will be taking control of today's moment. Reason : Chart is back in the pattern will full yesterday 2nd half bullish. PCR is 0.85 (Bullish) MAX pain: 19350 and 19500 RSI is still in 40-60 means continiously increasing means bulls have power. Verdict : Bullishness is expected Plan of action: Observe 15 min Candle if bullish Sell 19350 PE
NSE:NIFTYLong
by finnova_
Nifty Prediction for Tomorrow 5th October 2023Nifty opens with a down gap at 19446 vs. the previous close at 19528, approx 80 points lower. Lost another 50 points post opening in the first hour and tested immediate support at 19392. Took or you say tried to hold the support in the next hour though couldn't sustain in the following trading hours and fell further until the next support at 19331. Then again recovered from the support and closed near its open price i.e. 19436, forming a doji candle at the support zone of 19392-19331 Rsi is trailing at 40.15 levels. Rsi and price both closed at support, suggesting some bounce in price tomorrow and we might see a gap-up opening tomorrow around immediate resistance approx 100 points higher. Tomorrow can be a volatile day. The gap created today would act as an immediate resistance. Immediate Resistance: 19544- 19550
NSE:NIFTY
by manuagarwal21
Bearish NIFTY Analysis Options 04 OCTNIFTY is showing Bearishness. by looking at the data we can say it's going to be bearish for this week. also intrest rates in US is also going to effect the market. because of the FII starts pulling their money form INDIAN market. Reason : NIFTY is down to the bearish line ZOne. RSI showing very low Value means buyers are not trustung the market. PCR 0.65 shows huge Bearishness Verdict: MArket is bearish Plan of Action : SELL 19350 PE + BUY 19400 PE
NSE:NIFTYShort
by finnova_
Nifty prediction for tomorrow 3rd OCT 23as we discussed in our last posts that NIFTY might be taking support from this level. But will not go direct bullish from here as 200 EMA, VWAP is acting as high resistance zone for nifty. For tomorrow it seems to have a sideways moment Reasons : We are having a nice support Zone to downside at 19500, and resistance at 19750. RSI is in Range 40-60 which is mostly Sideways. PCR = 0.81 (Mild bullish) Price < EMAs (Bearish) Accumalation phase is going on. Heavy CE writing at 19800 and PE writing at 19600. But more suupport at 19600. if above side 19800 is broken then we can say bulls will be in power. Verdict: Sideways until get a nice breakout of level 19750. Plan of action: Play Neutral trade until Breakout. after breakout add CE.
NSE:NIFTY
by finnova_
Nifty 50: October week 1 Weekly Market SetupWeekly Review Nifty 50 declined by 0.18% last week to close at 19,638. The major meltdown was seen on last Thursday (weekly expiry) where the index lost close to 200 points where it touched its key support around 19,495 as per our expectations too. While broadly market is now showing mixed sentiments and is largely looking to be a stock specific trading only. Week Ahead:, On Daily charts, technical indicators shows bulls giving a good fght to pick up pace for what all the gains were lost in previous few weeks. Momentum is starting to build u but higher levels at 19,740-795 remains key hurdle to continue the larger rally. On the lower side 19495, 19438 and 19376 are important support to hold on. From levels perspective, I believe it has been quite a downfall and we should see some uptick or a sideway markets now but to say further the outlook would completely depend on how Q2 numbers starts rolling out and what holds post RBI’s MPC meeting results. *Disclaimer*: I am not SEBI registered analyst and hence the above market outlook is for only educational study and research purposes only. In no way do I endorse this opinion to take a trade or for any investments in markets in any form by any Participant. Be a responsible investor with proper risk management and keep learning as a true focus.
NSE:NIFTYLong
by chandakpulkit
NIFTY - RETRACEMENT ON THE CARDS?Nifty has been falling continuously after making new ATH above 20,000. As the market is digesting the rate pause and a hawkish FED, it has found support at a rising trend line. Nifty has formed a double doji in the Daily TF and has shown signs an upcoming bounce at the very least. RSI is showing a good divergence in 75 min TF. Further evidence lies in today's (26th September) trading session when Nifty showed resilience when DOW futures were down roughly over 200 points because of Moody's warning of a potential downgrade on US economy if there was a shutdown on Oct 1. It seems the right time to play the bounce and if it manages to sustain above the 0.618 ratio, fresh buying can be witnessed too. I expect a bullish monthly expiry on Thursday bearing any black swan events.
NSE:NIFTYLong
by DhruvDeora
Nifty prediction today. Will nifty fall more?After the expiry huge selling it indicates quite the bearish trend in the market. If we see 1-D TF chart its bearish engulfing candle, as its in middle of the trend it's not that powerful. Market might go more bearish as its sitting on Price Action support level. FII perform heavy selling signs bearishness too. and also at the same time having multiple resistance on the above side. So, overall seems bearish. Reasons : Multiple resistances above such as VWAP, 50 EMA, 200 EMA 100 EMA. (Bearish) Price < EMAs (Bearish) Heavy CE writing on above levels, its starting of the week can say much about bearish or bullish because of it. PCR = 0.71 (Neutral) RSI Bullish divergence. Verdict : Seems Bearish Based on Data Plan of action : Check market intital 15 min trend and place your trade accordendly.
NSE:NIFTYShort
by finnova_
NIFTY--Exhaustion Or Initiation??The Nifty index also same.... as Bank Nifty Price is exactly closed at strong support... .19500 level. .. Previously multiple times rejection to the topside is observed at this level... Now the same level rejects the price downwards.....its bullish again. If sellers exhausted today, tomorrow price is bullish... If this is an Initiation of sellers again price is bearish...but already price is in premium zone... if this is a continuation of down move...will look for buy @discount. careful before enters in short... Note:: Please check this post before reading the above description.
NSE:NIFTY
by IIT-Trader
5
NIFTY - Target Levels - THUR - 28.09.23Nifty Spot Price : 19716.5. - VIX SPOT Price : 11.58. - Nifty Daily Range : 19597 To - 19836. - Watch Option Strike : 19650 CE Watch The Target Levels : 70----77-----96-----115----135----154---173----192----212----+++++++ I Am Not Sebi Registered Analysis, This Is Education Purpose Only. Dear Followers.. Trend Is Our Friend.. 1. Draw The Lines In Your Trading View.. Then Only You Understand My Statistical Startegy. 2. Kindly Watch My Break Even Point. Every Day.. 3. Above The Break Even Point.. Resistance Break.. UPTREND Starts.. Buy CE.. 4. Below The Break Even Point.. Support Break.. DOWNTREND Starts.. Buy PE.. 5. After Retracement.... Stop Loss is Above Or Below Break Even Point.. 6. Stop Loss Is Must.. 7. Watch 5 Mins Time Frame.. & 15 Mins Time Frame.. 8. In Future i Analysis & Focus On Option Strike - Entry, Target, Stop Loss. Also.. Don"t Enter Blindly. 1. We Focus On Our Daily Analysis.. 2. Combination Theory Of Delta, Gamma & Thetta,. 3. Selection Of OI Analysis & Prediction Of Entry, Targets, & Stop Loss.. 4. We See 4 Types Of Fibinacci Retracement Levels.. (1.High To Low Fib Level, 2.Low To High Fib Level, 3.Long Fib Level & 4. Short Fib Level), 5. Techninal View On Break Even Point.. 6. Wait For Support Breaking or Resistance Breaking.. That Time Watch The Market Carefully.. 7. Market Moves in UpTrend or DownTrend.. 8. Kindly Watch Both The Nifty Target Levels & Bank Nifty Target Levels in your Trading View.. Its Most Important For Daily Tradings.. Kindly Follow My Channel & Like Your Support in My Idea. BY : newsbharathi27040
NSE:NIFTY
by market1tomorrow
Nifty Took Support At 50 Days EMA. (Positive Sign). Nifty Took Support At 50 Days EMA which is a Positive Sign. If the support is not broken in the remainder of the week, seeds of a fresh rally and end of weakness will be sown. For this to happen Nifty not breaking the 50 days EMA is very important. Resistances on the upper side will be at 19735, 19851 and 19991. Supports for Nifty at the lower level are at 19549, 19435 and 19224. Below 19224 the bears will overtake the market.
NSE:NIFTYLong
by Happy_Candles_Investment
NIFTY--Breakout or Fakeout??I 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
5
NIFTY--Retracement or Reversal??The NIFTY index again showing bearishness, with gap down opening. Now price is exactly at the golden zone of Fibonacci retracement. If price takes u turn from this level to the upside...index is once again breaks the ATH to reach 20500 levels soon. While going to upside price is showing some sort of consolidation in the levels 20000 and 19700 levels. So take care this is the crucial zone, if this zone failed to take the price upside, wait for the price to break this zone below and wait for the retracement to enter short for continue with the trend. Keep in watch mode for couple of days. On top side, price breaks the trendline, it may retest and fall or rise. ATH is not strong, weak ATH is observed on topside. All these points are showing bullishness in NIFTY. Note:: Until price breaks this zone, consider it as a retracement.
NSE:NIFTY
by IIT-Trader
12
Shakeout at the ATH - NiftyWeekly Timeframe:  1. Engulfing candle: Depicts bearish sentiment, trend reversal indication. Daily Timeframe: 1. Climax Top: 11 consecutive highs followed by selling. This is one of the characteristics of trend reversal; it is often accompanied by exhaustion, a sudden spurt in volume, and then selling like falling knives. 2. Heavy selling: distribution Signs are reflected through the volume. Reasons, 1. Rise in Crude Oil Price 2. Inflation Fear 3. FII-Sell off 121367 Cr   Way forward, Support Levels, S1: 19200 S2: 18600 Trade Opportunity, 1. Niftybees: Hold 2. Futures & Options: Monthly Straddle
NSE:NIFTY1!
by OK_Rane
Will NIFTY hold this level?As we have have been discussing nifty fall. Now nifty has come to the 0.5 Fib Level 1H-TF. yesterday it has also proven as support point whole day. we are assuming that it might take support from this point. Reasons : RSI is very low that indicate the weak strength of the trend. and at the same time Oversold the Market. Nifty is taking support at 0.5 Fib level of 1H-tf. 200 EMA is also coinsiding with 0.5 Fib level that makes it more strong point to take support. Its nearby VWAP so we can say price is avraged out. now Buyers might come in the market. PCR is 0.89 - Neutral RSI bullish divergence. Verdict : Observe initial 15 min trend. Plan of action: Based on observence of inital market moment. Place a Neutral trade.
NSE:NIFTY
by finnova_