Nifty positioned nicely in a positive open mouth channel.Nifty is positioned nicely in a positive open mouth channel. Crossing and closing above 19726 can start a positive wave in Nifty which will have resistance at 19353, 19413, 19562 and 19681. Supports for Nifty at the lower level are 19207, 19170 and 19070. Things are looking good for a positive Diwali and Muhurat buying. Let us hop that all the positive levels are crossed and we get a closing close to 20K during the Muhurat session or post Muhurat session.
Niftyview
NIFTY INDEX OUTLOOKNSE:NIFTY
Nifty 50, in the hourly chart, is in the final leg of correction, forming a zigzag corrective pattern of 5-3-5. It has completed wave 3 of wave C at 18837.85. A triangle pattern is in formation in wave 4 of wave-C, which can go up to 19315 - 19360 region. For major correction to complete, Nifty 50 is likely to form a new low of wave 5 of wave C between 18740 - 18640, where it also has gap support.
CRUCIAL LEVELS
INTRADAY: 19244, 19235
DAILY:19195, 19125
NIFTY--19000 or 19300I 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.
They serve as key reference points for technical analysis
#NIFTY Intraday Support and Resistance Levels - 03/11/2023Nifty will be gap up opening in today's session. After opening nifty sustain above 19170 level and then possible upside rally up to 19270 & This rally can extend another 100-120 points if market gives breakout of 19290 level in today's session. in case nifty trades below 19130 level then the downside target can go up to the 19010 level.
Nifty forming a good channel on hourly chart. Nifty is forming a good channel on hourly chart and things are looking positive for now. Once the Nifty crosses and closes above small resistance of 19145 and 19177 and hold that support. (It is very much possible that Nifty opens gap up above 19177 which will be very good technically, the next targets for spot nifty will be 19230, 19353 and 19425. Support on the lower side are at 19070, 19007 and 18935. Expecting a good closure to the week as things right now look positive. Some big negative news from Middle East can still spoil the party so be cautious.
NIFTY detailed Prediction analysis for 2nd Nov NIFTY was quite Bearish yesterday as we discussed the levels and trendlines respected quite well. A trendline is broken to downside and selling presure was more to downside, by looking of the trend yesterday nify seems bearish for this week.
Reason:
200 EMA Resistance (Good Resistance) (Bearish)
Price Action Resistance (Red Zone upside) (Bearish)
Yesterday Heavy selling presure
Price < (13,50) EMA (shows bearish)
PCR = 0.68 (mild Bearish), MAX Pain = 19100
RSI < 40 (Bearish)
Verdict:
Bearish
Plan of action:
as its expiry it might be sideways. so play based on levels
NIFTY Prediction today 1st Nov 23NIFTY was quite Bearish yesterday as we discussed the levels and trendlines respected quite well. a short trendline is broken to downside and selling presure was more to downside, by looking of the trend yesterday nify seems bearish for this week.
Reason:
200 EMA Resistance (Good Resistance) (Bearish)
Price Action Resistance (Red Zone upside) (Bearish)
Yesterday Heavy selling presure
Price < (13,50) EMA (shows bearish)
PCR = 0.75 (mild Bearish), MAX Pain = 19100
RSI > 40-60 (Sideways)
Verdict:
Bearish
Plan of action:
look for initially 15 min. follow the trend. Sell high levels.
NIFTY S/R LevelsI 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.
They serve as key reference points for technical analysis
Nifty Downtrend Consolidation 30-10-23Hey Folks My nifty Update is here
As we can see we are retestion the previous low of 25th october and can see the sellers moving in .We can see lots of side ways action for some days or maybe more downward continuation
As we can see the rsi levels are oversold buyers should starting to develop the interest but for short term my target is around 18900 like i can see it going there in monday if we didnt get some news that may reverse the trend
NIFTY--18700 or 19200 ??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.
They serve as key reference points for technical analysis
NIFTY--19100 Or 18600 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.
They serve as key reference points for technical analysis
NIFTY50 Daily timeframe analysisNIFTY50 Daily timeframe analysis
All Time Swing High Swept
Recent 3 candles down side move is impulsive and it has closed below 21 EMA.
If trend-line and fib 0.618 level break and close below then it is possible to see all below target.
Sell : 19530 with SL: 19655
Targets:
T1: 19225
T2: 19020
T3: 18750
T4: 18510
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.
Will nifty take support or Fall?Nifty have been falling for last whole week. Now it has come to the zone where it has a nice support zone. Nifty might take support near 19250 as shown in the chart.
Nifty seems to be roaming in Range of 19250 - 19500.
Reason:
Price < EMAs(13,200) (Bearish)
15 < RSI < 30 shows oversold zone. but having Less strength means weak bull power.
PCR = 0.55 (Bearish)
Price < 200 EMAs shows in bearish zone. (Bearish)
Price < VWAP (Bearish)
it has been a heavy fall might consolidate here.
Verdict :
Bearish, but also having price action level where it might take support.
Plan of action:
Wait for market to show a bullish signal like double bottom or bullish hammer. once direction is confirm then make the postion.
if break to downside let it retrace and then go Bearish.
Short Sellers Can Be In Trouble In HDFC bankIn the given chart we can see that after big fall of two days,on daily price reverse back and close above the low of big red candle,which put short sellers in trouble who shorted on big red bars ,once price keep trading above the low of big red candle they will look for cover which can lead to short covering and also rally will resume
WEEKLY RSI AND DAILY RSI IS ALSO AT 40,SUPPORT EXPECTED
WITH 3 MONTHS BEEN IN FALL NEXT MONTH OR THIS MONTH CANDLE CAN BE GREEN MARK IT FRIENDS.
NIFTY--Support @19360 ??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.
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
#NIFTY Intraday Support and Resistance Levels - 20/10/2023Nifty will be gap down opening in today's session. After opening nifty start trading below 19600 level and then possible downside rally up to 19480 in today's session. in case nifty trades above 19630 level then the upside target can go up to the 19750 level.
NIFTY--Consolidation @19550-19450 ?? 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.
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
NIFTY--Liquidity lies @19500I 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.
If price breaks the resistance, we have a chance of filling the bearish gap, soo keep in buyside until it touches the zone of resistance and bearish gap.
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
Review and Plan for 18th October 2023 Nifty future and banknifty future analysis and intraday plan in kannada.
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please consult your financial advisor before taking any action.
----Vinaykumar hiremath, CMT