Major Correction in Nifty due to Global factors. Nifty today closed 1.05% in the negative due to major global news of US downgrade. Lot of Euphoria was also there and many stocks were seething in the overbought zone so the correction was due. Major supports now for Nifty can be near 19440 and 19315. If 19315 will be broken bears will get more empowered and next support zone will be in the range of 19239 and 19202. Resistance on the upper side will be near 19557 and 19666. Mostly it looks like Nifty will test further supports only rather than resistances this week but you never know.
Niftyview
NIFTY SYMMETRICAL TRIANGLE FOR 02/08/2023BUY ABOVE - 19760
SL - 19730
TARGETS - 19790,19820,19870
SELL BELOW - 19700
SL - 19730
TARGETS - 19660,19610,19560
Previous Day High - 19790
Previous Day Low - 19700
I am sharing NIFTY levels this levels acts as important support & resistance for intraday. if you want to trade with this levels wait for 15 min Candle closing above that levels. You can trade with breakout and reversal both.
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.
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 👍
Nifty Breakout or Breakdown Risk Reward 1:3 TradesRules:
In this approach, Once Breakout or Breakdown levels are breached, we initiate Long or Short positions accordingly with Proper stop loss as mentioned in the chart. Since the Risk Reward is 1:3, we can take a maximum of 3 trades.
If we follow this approach, over the long run, money is gained.
A trader is advised not to treat these setups as lottery tickets. Since only I know why these work (while others may not), only I have the conviction to trade them in real market. So kindly treat them as educational trades only.
Happy Trading!
#NIFTY Intraday Support and Resistance Levels - 01/08/2023Nifty will be gap up opening in today's session. After opening nifty sustain above 19770 level and then possible upside rally up to 19860 & this rally can extend another 100-120 points if market gives breakout 19870 level in today's session. in case nifty trades below 19730 level then the downside target can go up to the 19620 level.
Downtrend Channel Pattern Breakout in oracle fin servORACLE FIN SERVICES
Key highlights: 💡⚡
✅On 1Day Time Frame Stock Showing Breakout of Downtrend channel Pattern .
✅ Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 3960+.
✅Can Go Long in this stock by placing a stop loss below 3820-.
#NIFTY Intraday Support and Resistance Levels - 31/07/2023Nifty will be gap up opening in today's session. After opening nifty sustain above 19650 level and then possible upside rally up to 19750 & this rally can extend another 100 points if market gives breakout 19760 level in today's session.in case nifty trades below 19630 level then the downside target can go up to the 19520 level. also reversal possible 19750 level.
#NIFTY Intraday Support and Resistance Levels - 28/07/2023Nifty will be gap up opening in today's session. After opening nifty sustain above 19710 level and then possible upside rally up to 19820 in today's session. in case nifty trades below 19690 level then the downside target can go up to the 19580 level.
NIFTY--Again 20K ??After a strong fall price is again showing strong bullishness from the zone 19625 levels.
If this is a retracement tomorrow again falls, if its a buyers move it will again reach ATH again.
Until price breaks this level don't go for short...
keep on buy side price will again test ATH levels, Bearish gap left at ATH may fill.
So based on price opening will decide to go long or short.
Note::
If price breaks 19600 levels, it again gives us retracement...then will go for short side...
#NIFTY Intraday Support and Resistance Levels - 27/07/2023Nifty will be gap up opening in today's session. After opening nifty sustain above 19800 level and then possible upside rally up to 19920 in today's session. in case nifty trades below 19760 level then the downside target can go up to the 19640 level.
19750 and 50 Hours EMA at 19723 major supports for Nifty. 19750 and 50 Hours EMA at 19723 major supports for Nifty. Below these 2 levels the support for Nifty will be near 19621 and 19516. Nifty becomes vulnerable and bears can tighten their grip below 19516. Below 19516 only 19347 is the major support (200 Hours EMA). Trend can change to bearish below this level.
Resistance on the upper side for Nifty will be near 19827 and 19890. If these resistance are crossed Nifty will once again look at aiming towards 20K mark if it able to conquer final 2 resistances at 19939 and previous high of 19991.85.
Mid-Channel Support and 50 EMA on Hourly Parallel channel BrokenMid-Channel support and 50 hours EMA on Hourly Parallel channel is Broken and now the next support for Nifty is only near 19633. Other supports for Nifty are near 19572 and 19516. 200 EMA which will be like major support for the existing rally is near 19289. Below 19289 the Rally may fizzle out and bears will strive to take control. Resistances on the upper side will be the zone between 19708 to 19761 (Major resistance zone now as it will have several resistances including 50 hours EMA and Mid channel Resistance). Crossing this zone is difficult but if Nifty does cross it next resistances will be near 19827, 19890 and finally 19939.
NIFTY INTRADAY LEVELS FOR 25/07/2023BUY ABOVE - 19730
SL - 19700
TARGETS - 19780,19820,19890
SELL BELOW - 19670
SL - 19700
TARGETS - 19630,19570,19510
I am sharing NIFTY levels this levels acts as important support & resistance for intraday. if you want to trade with this levels wait for 15 min Candle closing above that levels. You can trade with breakout and reversal both.
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 👍
Nifty pre market analysis25JULY ANALYSIS:
Daily analysis:
Nifty opens:
side: sell if it breaks yesterdays low(PS-100%)
gapup: for gap up wait for price-action and sell if it comes down after some price-action(ps-50%)
we will buy only when market closes above 19785 (PS40%, if gives breakout after 12 then 60%PS)
gapdown: we will sell after negative price-action
on big gapdown we will buy if market makes 5 min bullish candle
nifty pre market analysis24JULY ANALYSIS:
Daily analysis:
Nifty opens:
side: could remain volatile
gapup: for gap up wait for price-action and then buy if market goes up after some consolidation(ps-50%)
if a morning star candle formed at previous swing of 19820 we could sell in small qty (ps-20%)
gapdown: we will sell after some consolidation
Nifty 23Jul23to27Jul23 Short,Medium,LongTerm&StockPickNifty 23Jul23 to 27Jul23 Short,Medium,Long Term & StockPick
Nifty closed at 19745 ( 19422) and touched low & high of 19571 and 19996.
Stocks to pick ( Buy on Dip) for Long Term by on Staggered way call was given three weeks back, on an average raised 3-5 % in Three week( Can accumulate on dip ):
Disclaimer: For analysis purpose only. Many stocks raised considerably in last three weeks.
HDFC Bank , L&T Tech ( 6% up), KPIT , PI Ind , Dr Reddys ( 6% Up), Ujjvan Small Fin (13 %), Route Mobile, Bank of Maharashtra ( 26 %), Andhra Paper(4%) Accelya Solutions
Nifty long call was given Three week back (at 19250) and touched all time high 19996
RSI and Stochastic level dipped to 68 %
Nifty- In Short term might increase
Resistance at 20000,
Support at 19500 ( Shown in red line) /
Buy on Dip above this support level
Nifty Medium Term -
Above 20000 it will take it to 20100-20150-in next 2-3 weeks
Nifty support at 19300/19000
Can initiate sell around 20100-20150 ( Fibonacci 1.618 level)
Long term-
To review the Q2 results.
Investors can accumulate following Mutual Funds
NIFTY 50 & Nifty Equal weight ( 50%)
Nifty Bank & IT (20%)
Nifty Mid Cap ( 20 %)
Nifty Small Cap (10%)
NIFTY--Liquidity @19700 ??nifty almost touched the 20K level,
before going to break this level it will give us a pullback to 19700 levels, where the liquidity lies on these areas.
if wee see on top we have next resistance @20100 level, and monthly resistance @20170 level.
we have support at 19750-19700 levels,where a strong bullishness is initiated.
if this is the end of uptrend it will test 19400 levels again.
will see on live market what happens.
Thankyou guys for your support.
Nifty missed our Target of 20002 by about 10 points. Nifty just missed our Target of 20002 by just about 10 points. RSI is indicating that the Nifty has entered the overbought zone and a small or medium sized correction is due. however the fibonacci levels applied to Nifty Indicate a medium term target of Nifty near 20126. To reach there Nifty has to cross the major hurdle at 20002. Incase Nifty respects the Overbought Zone RSI correction theory a little bit of Correction might be due with a support at 19800, 19724, 19418 being a major Fibonacci support and below that 19321 is the main support. 50 days EMA of Nifty is too deep at 18861 below which the trend will change into a negative one.
NIFTY--20K or 19K ??Nifty ::
Today price broken the channel and retested...showing bullish momentum towards upside..
if this momentum continues or reversal takes place....
what pivot points are suggesting us ::
If we see on the Monthly Chart price is broken the R1 with consolidation with a up channel...
Resistance R1 is placed @19440 level broken and reach the R2.
if we see the next resistance is placed @20175...will price really reach the R3.
On bottom side if we see support is located @18700 level...
If we see the weekly analysis price is broken the Weekly-R1, and next resistance is located at 19763 level.
so we have weekly support located at 19400 range...
the next targets for weekly on above side is located at 19765 and 19930 levels.
If we see the daily Levels::
Today price broken the R1 with consolidation...and breaks the R2.
and the next resistance is located @R3=19790 Level,which is weekly Resistance.
so tomorrow we may reach this levels,
so consider them as levels of resistance...
The support is located @19470 range, which is slightly above the weekly support.
the next 2 resistances are 19790 and 19890 Levels.
so, until price breaks this level Support point located at S1,19470 We will not go for short side.
consider today observations::
price is broken the R1 strongly with consolidation...
if this R1 acts as support will be on buyside for targets of R2,R3,R4 as shown in the chart.
if price tests R1 and not able to Break R2, breaks R1, will go for short side with pullback to R1 up to P,S1,S2,S3.
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Here I am using the indicator Pivot point standard
pivots type:: Traditional.
Keep use this on to your chart it's very clear.
All this is useful when ever price broken the ATH, so many traders are requesting how to mark the levels after ATH.
If we want we can also use Fibonacci levels for small targets and small SL points.
just change the settings to type to Fibonacci.
If this information is helpful give me a like by showing your support.
thank you very much guys for your support.
Nifty Trying to break channel it was flowing in since 3 monthsNifty since Mid April 23 has been smoothly flowing in the drawn hourly channel. Now it has taken steps today to break this channel. Breaking an hourly channel of Three months is a very tough challenge. Relative strength index is also approaching near it's sell zone. Perhaps little bit of more effort can take Nifty towards 19800, 19900 or perhaps magic figure of 20K. For reaching 19800 or even 20000 levels Nifty has to sustain above 19700 levels in this coming week. Supports on the lower side for Nifty are near 19575, 19481 and 19316.