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Nifty Analysis, Important Levels and Intraday Trade Plan Aug 211) Monthly trend is up 2) Weekly retracement is progress, RSI at 60, make or break zone. 3) Fib 23% retracement at 19250 – which is done already 4) Fib 38% at 18789 – very important as it is Monthly swing top demand level. 5) Daily – Crucial support at 50 EMA. RSI < 40. Has not been broken since March rally from 16800 bottom. 6) 4H sitting at 100 EMA crucial support. Has not been broken since March rally from 16800 bottom. Only small sign of reversal is the inverted hammer that has been formed, but it would be active only if it has a follow through candle. 7) 75 minutes timeframe shows 200 EMA breakdown. 8) 75 minutes Timeframe shows a price pattern of descending triangle price pattern. 9) 75 minutes Timeframe also shows a double bottom price pattern with bottom in the range of 19250-19300, a break of the descending triangle support zone is probable, hence there is a probability of 700 points of down move from here, which points to 18600 area. Only if 19300 breaks and sustains for more than 75 minutes. There is also a probability of reversal from 19300 zone. 10) A reversal for an up move would be confirmed only after a strong Daily close above 19600 levels. For positional basis. For an Intraday basis, one may consider if the price sustains strong above the 19480 zone. Hence Nifty is at a Major Make or Break zone. Intraday Trade Plan : ---------------------------------------- Supply zones are marked in black Demand zones are marked in green Market opens flat- 1) May be price would pick the demands at PDC , PDL , consolidate and move till supply levels, majorly PDH zones. Better to Ignore the consolidation and break upside move as there are too many supply zones unless consolidation and breakout happens in PDL / PDC zone itself. One may also enter if PDH is consolidated and taken out. 2) Price may consolidate at PDC TO PDL and break PDL, a great opportunity to trade consolidation and breakdown from PDL, 19250 breakdown till 19200, 19199-19183. One may look for close entries to 19250 for PE side entry. Market opens gap down - 1) If the gap is small, within 19200, price may fill the gap, and then consolidate and then breakout or breakdown, will wait for price action, take a breakout or breakdown trade, If breakout then till PDC , then PDH. If breakdown then till Day Low then to next demand zones as per PA. 2) If the gap is huge, less than 19200, it may most likely continue to move down to 19139, then consolidate further for next movement, one may wait to either trade trend continuation at key demand zones or trade reversals from the demand zones, either of which based on Trade setup confirmations. Market opens gap up - 1) Price may come in for gap filling and then consolidate and break up or break down, will ignore break up trades, will trade a breakdown trade with price pattern consolidation break down confirmation for a target of PDC / PDL. 2) Price consolidation and breakout moves at 19387/PDH zone can be considered for a move till 19470 zone. Please trade at your risk, all views for educational purpose only. Happy Trading! Recipe for a Successful Trader - Rules for Entry, Risk Management for Exit and SL, Discipline in all Aspects, Zero tolerance to Overtrading.
NSE:NIFTY
by Rugminik
LU Lufax Holding Options Ahead of EarningsIf you haven`t bought LU here: Then analyzing the options chain and the chart patterns of LU Lufax Holding prior to the earnings report this week, I would consider purchasing the 1.00usd strike price in the money Calls with an expiration date of 2024-1-19, for a premium of approximately $0.45. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. Looking forward to read your opinion about it.
NYSE:LULong
by TopgOptions
Banknifty Intraday levels 18/082023Hello Traders. Yesterday we did not seen attractive hero zero trade in nifty and banknifty, even from last one month we did not seen any best expiry special trade, but do not worry we are doing good in other day. So, lets focus on today's scenario,,Well Global market again looking mixed to bearish view. Gift Nifty also giving indication of negative opening, We are seeing Head and Shoulder Pattern in nifty and banknifty both but as of now we have not seenn neckline breakdown. so we will wait for the confirmation. Banknifty has strong support zone at 43600-43700, if this gets break successfully, then we can see down levels. Important levels for banknifty:- Buy above 43923, if levels sustains at least for 30 mints. Targets we can see in upside 44067/44157++ Keep stop loss at 43740. Sale below 43740, if levels sustains at least for 30 mints. Targets we can see in downside 43594/43412-- Keep stop loss at 43923. Note:- Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction. Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou.
NSE:BANKNIFTY
by TraderRahulPal
Nifty Trade Plan August 16Trade Plan – Probabilities and corresponding Plan! Resistance / Supply zones - Marked in black Support / Demand zones in green. If the market opens flat – 1) It may again pick a supply at Friday’s high region and move down till Yesterday’s low region – demand 19350-19295. One may initiate shorts based on setup confirmation, ride till yesterday’s low region, and then continue further based on price action. 2) It may move beyond Friday’s high region and take a hit at the Trendline supply region 19510-19532. One may initiate shorts based on setup confirmation, ride till yesterday’s low region, and then continue further based on price action. One may look to go long only post a solid consolidation price action above Friday’s high zone. 3) It may directly move down to pick the demand at Yesterday’s low region, 19350-19295, and then consolidate or break yesterday’s low. One may look to sell this only post a consolidation price action at yesterday’s low region. One may look to buy the dip if there is a consolidation price action post the down move. If the Market opens gap down – 1) Beyond yesterday’s low region, long unwinding may happen leading to a fall till 19235 - 19185 – next support zone. One may initiate shorts if aggressive if not wait for a small rise to short the market further. Or even wait for a reversal price action opportunity post-consolidation. 2) If the market opens between yesterday’s high and close with a decent gap down, will look to go long or short only based on consolidation price action post 10 AM. If the market consolidates and breaks yesterday’s low then one may initiate short. If the market consolidates and moves up, then can go long till yesterday’s high zone. Will ignore if yesterday’s low is broken immediately and wait for an opportunity as per 1. If the Market opens a gap up – 1) One may initiate shorts based on setup confirmation as there are too many supply zones and ride till the demand zones are marked. One may go long only post a solid consolidation pattern at the Trendline region as there are too many supplies between 19462 – 19640. Happy trading! Recipe for a Successful Trader - Rules for Entry, Risk Management for Exit and SL, Discipline in all Aspects, Zero tolerance to Overtrading.
NSE:NIFTY
by Rugminik
DISH long hedged options playEveryone knows DISH Network. (Fun fact: the name is an acronym for DIgital Sky Highway.) Colorado-based Dish also does business through Sling TV and offers mobile service via Dish Wireless and prepaid service Boost Mobile, with plans to offer wireless internet and its own video streaming -- they do own Blockbuster. Dish TV has about 10 million paid subscribers. TA-oriented investors might spot some bullish signals, like the falling wedge and double bottom, while the price has recently moved above the MA. With the recent SPX / SPY / QQQ rallying, maybe it's time to consider a company at the crossroads of tech, infrastructure, media and entertainment. However, stocks' response to the latest jobs report and less-than-stellar Big Tech earnings might also give pause. Here's an options strategy that captures growth potential of 13% (21% annualized) while also providing downside protection of 35% -- start to lose only if DISH falls below $9.99 as of 9/15/23. Hedged like this: Buy 1 $15 Call Sell 1 $17.50 Call Sell 2 $10 Puts All expiring 9/15/23 Capital requirement: $1998
DLong
by oliveinvest
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