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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.
NSE:NIFTY
by finnova_
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.
NSE:HDFCBANKEducation
by bhoirjanmesh3
1
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
NSE:NIFTY
by IIT-Trader
3
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
NSE:NIFTY
by IIT-Trader
5
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
NSE:NIFTY
by IIT-Trader
3
NIFTY - PROCEED WITH CAUTIONNifty has shown good bounce after a heavy sell off. However, it has now taken resistance at 0.618 levels of 19,840. With results season kicking in, and another lukewarm IT season looming, Nifty seems to take a pause. With rising uncertainty in the Middle East and FOMC's strong hawkish stance (FOMC minutes will be out tonight), the index is likely to stay sideways to bearish for a few sessions barring any new significant developments. No fresh rally is expected unless it takes out 19,840 on closing basis.
NSE:NIFTY
by DhruvDeora
16 OCT 2023 BANKNIFTY SUPPORT AND RESISTANCE LEVELSHello Guys, Good Morning everyone, According to the data today market is going to open a Flat After A Flat opening if Banknifty sustains Above 44200 and takes Support from 44200 then open target for T1-44300, T2-44400,T3-44600 If the Banknifty Flat opening sustains Below 44200 and takes resistance below 44200 then the open Targets for T1-44000, T2-43900,T3-43800 Major Levels 44200,44000,44400 If the market stands in this area of 44000 to 44200, then it is possible that even today the market will remain in the range.
NSE:BANKNIFTYLong
by mr_bull10
NIFTY--BearishGap @19900 ??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
1
NIFTY 50: Weekly Outlook: October Week 3, 2023Weekly Review Nifty 50 gained 0.5% in the last week, hence closing at 19,751. The index has been very reactive to the past few macro events like Middle East warzone situations, Positive cues on Retail Inflation at 5.03% and poor guidance from IT companies on the growth front. Although on the technical front, levels have been in accordance with our view for the last two weeks gap opening and closing will cause a significant issue when we look back on these levels in future months. Week Ahead: On Daily charts key support for the week to come stands at 19,600 (make or break) for the rally to stay intact. The upcoming week will see a revision of resistance levels at 19,796-19,884 is a crucial tradezone, a break above this will see Nifty rally to 20,000 levels once again. In case a breakdown below 19,600 happens then 19,481,19,376 and 19,326-19230 will hold the fort. Caution: Be cautious of sectors and stocks you trade as the market and scripts will be very reactive to Q2 FY24 earnings as much has not been factored in the market. *Disclaimer*: I am not a SEBI registered analyst and hence the above market outlook is for 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. Figure 1: Nifty 50 Weekly Forecast chart
NSE:NIFTYLong
by chandakpulkit
What after nifty breakout now?As per out last analysis nifty has breakout that falling wedge pattern. yesterday as it was expiry it was range bound in the range 19780-19830. today's momentum will decide which side nifty is going to move. so we have to keep our bias neutral. Reason : Sideways range bound moment whole day yesterday. (Neutral) nifty has given the breakout of falling wedge. ( Bullish) Option chain PCR = 1.01 (Bullish but its initial 1st day of week) RSI < 50 downtrend (Bearish) Price < EMA(13) (Bearis) Verdict As Biases are both side Its Neutral Plan of Action: wait for 15 min candle and then make positions as marked on the chart.
NSE:NIFTY
by finnova_
NIFTY--Consolidation + Down= Rise from Trendline??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
4
12 OCT 2023 NIFTY SUPPORT AND RESISTANCE LEVELSHello Guys, Good Morning everyone, According to the data today market is going to open a gap up After A gap up opening if nifty sustains Above 19800 and takes Support from 19800 then open target for T1-19840, T2-19860,T3-19900 If the nifty gap up opening sustains Below 19800 and takes resistance below 19800 then the open Targets for T1-19760, T2-19700,T3-19680 Major Levels 19800,19840,19760 If the market stands in this area of 19840 to 19780, then it is possible that even today the market will remain in the range.
NSE:NIFTYLong
by mr_bull10
NIFTY--Bullish Gap or Bearish Gap??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
8
11 OCT 2023 BANKNIFTY SUPPORT AND RESISTANCE LEVELSHello Guys, Good Morning everyone, According to the data today market is going to open a gap down After A Gap-Down opening if Banknifty sustains Above 44500 and takes Support from 44500 then open target for T1-44700, T2-44900,T3-45000 If the Banknifty Gap-Down opening sustains Below 44100 and takes resistance below 44100 then the open Targets for T1-43900, T2-43800,T3-43600 Major Levels 44500,44100,44000 If the market stands in this area of 44200 to 44500, then it is possible that even today the market will remain in the range.
NSE:BANKNIFTY
by mr_bull10
NIFTY--Broken Trendline??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
3
NIFTY--19400 or 19700 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
2