NIFTY-- 18340 or 18000 -------->> Nifty Moderately turned to be bearish.
------->> Price wants to test the supply @ 18340 levels or continue to fall back to below 18000 levels.
-------->> If price tested 18340 levels and below we have a supply zone @18260 level may acts as demand, will again push the price to higher levels.
18120 Level will push the price above 18200,18260 and 18340 level. Keep track this levels.
-------->> we have a clear demand zone @18060 breaks will observe a fall till 18000 and 17960 levels.
Niftyview
Nifty daily analysis1. 18320 if nifty crosses this level after opening sideways than we can enter to buy in full
2. if nifty opened with gapdown then we will see price action- if after 5 min it makes hammer and crosses we will buy it
3. if nifty opened gapup then we will wait for 5 min candle on lower side for gap filling - we could buy if market makes some bullish pattern by
taking support of 18320.
4. if you want to sell on gapup then trade less than 1/3 qty after 5 min low breakout
5. if price-action is formed on lower side after gapdown below 18200 then we will try to sell in 1/3 qty. We will turn bearish for short term if market breaks 18100
Review and Trading plan for 22nd May 2023Nifty future and banknifty future analysis and intraday plan in kannada.
This video is for information/education purpose only. you are 100% responsible for any actions you take by reading/viewing this post.
please consult your financial advisor before taking any action.
----Vinaykumar hiremath, CMT
NIFTY SHORT for 348 points
Price has formed a Daily Supply which is The Source of the DownTrend and There is a Weekly and Monthly Demand formed for which Price will surely retrace, after reacting to the Daily Supply Price formed a 2H Supply which is coincided with the 4H supply and This is a Trade Zone for Shorting Nifty
ENJOY THE RIDE ! ! !
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--Expiry Levels @18160-18340------->>Price is clearly broken the support @18200 level strongly.
-------->> we have a previous resistances @18340 and @18260 levels failed to act as support, witnessed that more selling pressure is observed.
--------->> now price wants to test which level,18260 level where a strong gap down occurs previously.
---------->> This will again act as resistance, but while breaking 18260 level price leaves a supply zone in the range 18340-18360 range, so today price will test these 2 zones.
Key level of support: 18060 and 17960 levels.
Note:: Expiry will close in the range 18160-18340 Range.
Keep track these levels.
NIFTY--Head and Shoulders Pattern ??Observations::
Left shoulder @18340
Head @ 18400
Right Shoulder @18340
and Neckline is observed at 18200,if price breaks neckline we will observe a strong fall towards 18120,18060 levels.
---------->> we have gap left @ 18060 level, price may goes up again from here. this level will push the price upwards again.
---------->> Be careful at 17960 and 18060 levels.
Review and Trading plan for 17th May 2023Nifty future and banknifty future analysis and intraday plan in kannada.
This video is for information/education purpose only. you are 100% responsible for any actions you take by reading/viewing this post.
please consult your financial advisor before taking any action.
----Vinaykumar hiremath, CMT
#NAUKARI... Looking good @15.05.23#NAUKARI... ✅▶️
Intraday as well as swing trade
All levels given in charts ...
IF good potential seen then we work in options also
if activate then possible a huge movement Keep eye on this ...
We take trade only when it activates...
Possible to give good target
TRADING FACTS
Nifty 15May23 to 19May23 ST,MT & LT-Chart Cleaned for VisibilityNifty 15 May 23 to 19 May 23 Short ,Medium and Long Term
Nifty closed at 18314 ( 18069) and touched low of 18100.
Nifty touched high of 18389.
Mainly followed the band resistance provided for last two weeks ( as mentioned below) and 3-4 days the resistance acted as support.
Nifty support at 18111/18204/18274 ( Prev Highs Shown in thick red , blue and green horizontal lines)
RSI ,MACD and Stochastic are at 69%, 210 and 92%
KN Election results will play small setback in the indices, might drop to the the support level provided in the coming week in initial trading sessions.
However after small consolidation it will again try to attempt to surpass 18465/ 18600 /18900 in the Medium term.
Nifty- short term is Neutral to Long.
Need to decisively close above 18274 to reach targets ext target at 18437/18465 ( fibonacci resitances) .
Nifty support at 18111/18204/18274
Buy on Dip
Nifty Medium Term -
Nifty need to break decisively above first target 18274 to reach next target of 18437 ( Fibonacci 0.786 Retracement)/ 18640/ followed by prev high 18890.
Nifty have multiple support for Medium Term - 17865/17741 ( Previous Highs) and 17560 ( April Low)
Below that 17387- 17340/ 17252
Long term-
Need to decisively close above 18890 ( Previous Dec22 High) to reach targets of 19000/19500/20000
17208/17180//17000
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-Trendline-Retest-Gap Down ??Observations::
GAP DOWN opens
---------->> Price broken the trendline and observed a strong fall, and retest is observed at trendline @18340 levels.
---------->> Previous supply zone @18200 level resist the price to go down.
If tomorrow price breaks this level, we will observe a strong fall towards 18120,18060 levels.
if price again breaks 18200 levels, 18120 level acts as a pullback to 18200 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 18060 levels.
[{NIFTY TO FALL FOR 2.21% or 400 points}]
Price has formed a Fresh Weekly Demand and should retrace into it for a pullback, therefore this is a counter trend trade, but with a favourable Reward to Risk Ratio.
We have a selling confirmation in Daily and this is a positional Trade in the downward direction should take 15 days to reach the Target.
ENJOY THE RIDE ! ! !