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NIFTY trade ideas

NIFTY50.....Higher Volatility expected!Hello Traders, The NIFTY50 is more or less trading in a sideways range between 24073 and 24500. It has not reached the descending trend line (blue) drawn on the chart. It needs to break this line to the upside in order to bring fresh buying interest into the market and break the gray trend line around the 246xx area. Depending on if and when this happens, the next resistance is the 24850 area (red line)! As you can see, a lot of resistance ahead! On the downside, a break of 24073 (hourly close at least) opens the door to further selling pressure, probably to the 23400 area. The wave count remains unchanged and will be updated in the coming days. Expect more and "higher" volatility in the coming days due to the US vote! I recommend staying out of the market until Wednesday to get a clearer view. No one knows what the reaction in the US will be to the vote! Have a nice weekend..... Ruebennase Please ask or comment as appropriate. Trading based on this analysis is at your own risk.
NSE:NIFTY
by ruebennase
4
Nifty 50 - AnalysisAs Nifty approaches a 10% fall from ATHs, it may be entering a period of technical correction, with the mid-cap, and small-caps already entering this phase. On the weekly, Nifty has broken its prior HL, which means we could see a move back up, establishing a potential LH, and then another move down towards the 23600-500 levels or we view 24500 as a LH, which will need to be broken for Nifty to shift trends. On the weekly, we have seen sharp selling, with the daily chart still not being able to get out of the downtrend, as it's forming new LHs and LLs. On the daily, ideally Nifty should hold above 24,500 to break trend. However, we have seen 23800s hold quite well as support in the past, so this can potentially be a zone of consolidation, a small reversal, or a period of accumulation on stocks that are holding structure and displaying relative strength If you look at the 4h chart, as per the Fixed Range Volume Profile, we see 3 key levels (marked in red and blue), showing the value areas so far. Price tends to come back towards the middle of the range, at around 24430 so that is a key level to look at. However, that was just a bear flag which suggested today's large move down towards the 23800s.
NSE:NIFTY
by shauryavkohli_
1
Nifty 50 Trading Shades of GreyI've been trading these shades of grey at 5 minutes for day trade. These haven't failed me yet. You can try to track it and I may actually update it every week. Because these shades are made at a weekly timeframe. I used to be miserable in the beginning but since I learned to make this shaded chart my success rates have improved. You can choose to swing it too by updating your TSL a shaded grey area below. If its hit you can reenter 1 shaded area up again or take a trade in the opposite direction. I majorly trade options and was very unprofitable before I stumbled upon this. I'll make a indicator out of it soon.
NSE:NIFTY
by Prakash-Mandal
2
Mother Line, Trend line and other resistnace up ahead to watch.Before Nifty can fly further there are some important resistances to be crossed in the near by zone are 24368 that is the high of Muhurat day, Mother line resistance at 24391, Trend line resistance near 24400. After closing above 24400, Nifty can quickly reach 24505 or even 24601 in a short time. Supports for Nifty are at 24280, 24239, 24172 and 24142. Final support for Nifty is in the range of 24069 below which bears can create further havoc. Shadow of the candle is slightly positive but FII's deep selling is making the investors vary and fearful this does not include DIIs as of now but below certain level even they can start to give in if things do not improve. Shadow of the candle is slightly positive.
NSE:NIFTY
by Happy_Candles_Investment
1
NIFTY : Trading Plan and Levels for 05-Nov-2024On 04-Nov-2024, Nifty showcased a strong downward trend followed by some consolidation. The session closed near 23,990, with critical support levels between 23,725 and 23,579, indicating a potential for a bounce in the coming session. Resistance is seen at 24,021, with a significant zone near 24,163. The Yellow trend indicates potential sideways movement, while the Green trend shows bullish prospects and the Red trend represents a bearish path. Trading Plan for 05-Nov-2024: Gap Up Opening (100+ points): If Nifty opens with a 100+ point gap-up above 24,021, we could see a bullish move towards 24,163 (Intraday resistance). It’s essential to watch if prices sustain above this zone, as crossing this level could target the last intraday resistance of 24,319. If Nifty fails to sustain above 24,163, expect a sideways move back towards 24,021. Traders should exercise caution here as any rejection from higher levels might signal a potential reversal. Actionable Plan: Buy on a sustained move above 24,163, with a target of 24,319. Stop Loss: Below 24,021 on a 15-minute candle close. Flat Opening: If Nifty opens flat around 23,990, the focus will be on the reaction near 24,021 (opening support/resistance). A clear breakout above this level could push Nifty into a bullish zone, aiming for 24,163 and beyond. However, failure to break this level will lead to a sideways consolidation (Yellow trend) or a possible retest of lower supports near 23,725. Actionable Plan: Buy on breakout above 24,021, targeting 24,163. Sell below 23,953, with a target towards 23,725. Stop Loss: Place tight stop losses at 23,990. Gap Down Opening (100+ points): If Nifty opens with a gap-down near 23,725 or below, the Best Buy Zone comes into play. Watch for bullish price action around this support level. Any strong bounce from here could lead to a recovery back to 23,953 or higher. In case Nifty fails to hold 23,725, a further decline towards 23,579 could be on the cards, with a potential for a deeper correction. Actionable Plan: Buy near 23,725 with a target of 23,953. Sell below 23,725, aiming for 23,579. Stop Loss: Below 23,725 on a 15-minute candle close. Risk Management Tips for Options Trading: Always use strict stop losses, especially on volatile days. Avoid holding positions overnight unless there’s a strong directional bias. For options traders, consider entering at-the-money or slightly out-of-the-money options to benefit from quick price moves while managing risk. Summary and Conclusion: The key levels for 05-Nov-2024 are 24,021 for intraday resistance and 23,725 for strong support. A gap-up or flat opening should be monitored closely for breakouts above these resistance levels. A gap-down could provide an excellent buying opportunity near 23,725. Traders should stay cautious and respect the support/resistance zones, waiting for confirmation before taking trades. Disclaimer: I am not a SEBI-registered analyst. This trading plan is purely based on technical analysis and psychological theories. Please consult with your financial advisor before making any trading decisions.
NSE:NIFTYLong
by LiveTradingBox
NIFTY : Trading Levels and Plan for 31-Oct-2024 Intro: On the previous trading day, Nifty exhibited a mix of consolidation and upward momentum, with notable resistance zones tested near 24,594 . Key levels for 31-Oct-2024 have been identified, with trends marked as follows: yellow for sideways movement, green for bullish momentum, and red for bearish sentiment. This plan provides strategies for different opening scenarios. Trading Plan for 31-Oct-2024 Gap Up Opening (100+ points above) If Nifty opens 100+ points above the previous close, it may test the First Resistance/Consolidation Zone near 24,594 . If the index sustains above this level, we may see a push towards the Profit Booking Zone at 24,694 . However, if it struggles to hold above 24,594 , expect a retracement towards the Opening Support/Resistance level at 24,320 . – A reversal from the resistance levels could prompt a move back to the Support at Retracement at 24,163 . Flat Opening (within 50 points of the previous close) For a flat opening, the key level to watch is 24,349 . Sustaining above this point could lead to a breakout, targeting 24,594 and possibly extending towards the Profit Booking Zone at 24,694 . Conversely, if momentum fails above 24,349 , Nifty might move sideways around 24,320 or even test the lower support at 24,285 . – A downside break below 24,285 could increase bearish pressure, with potential support found at 24,163 . Gap Down Opening (100+ points below) In a gap-down scenario, initial support may be found near 24,285 . A rebound from this level could bring the price back toward 24,349 . If the index sustains above 24,349 , bullish momentum could retest the resistance at 24,594 . However, if 24,285 fails to hold, a decline towards Support at Retracement near 24,163 is likely. – Persistent weakness below 24,163 might drive further downside towards the Last Intraday Support at 24,040 . Risk Management Tips for Options Trading Manage your position sizes wisely, especially when volatility is high. Consider deploying trailing stops near major resistance/support levels to protect gains. Options spreads can limit risk exposure, which is particularly useful in a choppy market. Summary and Conclusion The primary focus for 31-Oct-2024 remains on the resistance at 24,594 and support at 24,163 . Traders should stay flexible with these levels and use disciplined stop-loss strategies to manage risks. Observing the price action after the opening will provide better insight into the day’s trend. Disclaimer: I am not a SEBI-registered analyst. This analysis is based on technical levels and reflects my personal view. Please perform your own analysis or consult a financial advisor before trading.
NSE:NIFTYLong
by LiveTradingBox
NIFTY : Trading Plan and Levels for 30-Oct-2024 Intro: On the previous trading day, Nifty demonstrated a robust recovery from the exact level that mentioned as last intraday support in yesterday plan, with the price reaching new resistance levels and showing strong buying momentum. Key zones have been established for tomorrow's session, with yellow indicating a sideways trend, green showing a bullish trend, and red representing a bearish trend. Here’s a strategy based on different opening scenarios. Trading Plan for 30-Oct-2024 Gap Up Opening (100+ points above) If Nifty opens with a 100+ points gap up, it is likely to encounter resistance near the 24,564 level, marked as the Resistance for Sideways/Retracement at BoS zone . If the index sustains above this level, we could see an upward movement toward the Profit Booking Zone around 24,758 . However, if it fails to hold above 24,564 , expect a retracement towards 24,485 or the Opening Support level at 24,409 . – A strong reversal from the resistance levels could lead to a test of the Buyers Support at retracement at 24,312 . Flat Opening (within 50 points of the previous close) With a flat opening, focus on the price action near the 24,454 level. A breakout above 24,485 could initiate a bullish run towards 24,564 and eventually towards the upper resistance level at 24,758 . However, failure to maintain momentum above 24,454 could result in a sideways pattern around 24,409 (Opening Support) or even a potential downward trend towards 24,312 . – A break below 24,312 would indicate further weakness, aiming for the Last Intraday Support at 24,214 . Gap Down Opening (100+ points below) In a gap-down scenario, Nifty is likely to find initial support at 24,312 . If this level holds, there might be a bounce back towards 24,454 . Sustaining above 24,454 could shift the sentiment towards bullish, aiming for 24,564 as the next resistance. However, if 24,312 fails to provide support, expect further declines towards the Last Intraday Support at 24,214 . – Any continued weakness below 24,214 could lead to additional selling pressure. Risk Management Tips for Options Trading For options trading, keep position sizes manageable, especially on high-volatility days to reduce exposure to unexpected swings. Use trailing stops to protect profits, particularly when the index approaches major resistance/support levels. Consider deploying options spreads to limit risk, especially if the market appears choppy. Summary and Conclusion For 30-Oct-2024, the primary focus remains on the 24,564 resistance level and 24,312 as a critical support. A flexible approach to price action around these zones, combined with disciplined stop-losses, can help manage risks effectively. Monitoring the initial price action is essential to gauge the trend for the day. Disclaimer: I am not a SEBI-registered analyst. The analysis above is based on technical levels and reflects my personal viewpoint. Please perform your analysis or consult a financial advisor before making any trading decisions.
NSE:NIFTY
by LiveTradingBox
NIFTY : Trading Levels and Plan for 29-Oct-2024 Intro: On the previous day, Nifty displayed a upward movement from the provided levels in yesterdays trading plan and minor fluctuations within key levels. The chart illustrates potential sideways movement in yellow , an expected bullish trend in green , and a bearish trend in red . For today's trading, we will observe various opening scenarios and outline strategies accordingly. Trading Plan for 29-Oct-2024 Gap Up Opening (100+ points above) If Nifty opens with a 100+ points gap up, it is likely to face resistance near the 24,453 - 24,563 range, which is marked as the Opening Resistance / No Trade Zone . Observe price action here. If Nifty sustains above 24,563 , it may target the Profit Booking Zone around 24,715 - 24,759 . However, if it fails to break above the resistance, expect a potential retracement towards the Opening Support at 24,282 . – In case of strong selling pressure, Nifty could pull back further, aiming toward 24,162 as a potential support. Flat Opening (within 50 points of the previous close) With a flat opening, focus on the initial 30 minutes to gauge market sentiment. If prices sustain above the 24,453 level, we may see a push toward 24,563 . A breakout above 24,563 will likely lead to a bullish trend targeting Profit Booking Zone at 24,715 - 24,759 . However, if it fails to sustain above the No Trade Zone , expect sideways movement or a dip toward 24,282 . – Any move below 24,282 could potentially extend towards 24,162 , testing the Last Intraday Support level. Gap Down Opening (100+ points below) In a gap-down opening, monitor the 24,282 level as the immediate support. If it holds, Nifty may attempt to retest the Opening Resistance Zone around 24,453 . A breakout above this level could bring sideways or bullish momentum up to 24,563 . Failure to reclaim 24,282 may lead to further downside pressure, potentially pulling prices to the Last Intraday Support at 24,162 . – Watch for price stability around 24,162 if it is reached, as this may serve as a potential reversal point. Risk Management Tips for Options Trading Consider setting a defined stop-loss for each options position based on volatility levels; hourly candle closes can be useful for managing intraday risk. Avoid over-leveraging. In options trading, position sizing should reflect the inherent risk and potential for quick price changes. Utilize trailing stops to lock in profits if Nifty moves favorably. This is particularly effective in highly volatile sessions. Summary and Conclusion Today, focus on the key zones: 24,453 - 24,563 as resistance and 24,282 as support. A break above or below these levels could set the day's trend. Use a balanced approach, aligning with the prevailing sentiment indicated by the chart structure. Disclaimer: I am not a SEBI-registered analyst. This analysis is based on personal views and technical parameters. Please conduct your research or consult a financial advisor before making any trading decisions.
NSE:NIFTY
by LiveTradingBox
50 Hours EMA and Trendline resistance again stop Nifty progressAgain The Mother line (50 Hours Resistance) and trendline resistance threw spanner in the growth effort of Nifty. Till Mother line and trendline thereafter is not crossed we can't reach Father line resistance which is at 24853. Supports for nifty remain at 24307, 24173 and finally 24073. Below 24073 Nifty will become very weak and bears will spell further doom. Resistances on the upper side remain at the zone between 24448 and 24513 (tough to conquer Mother line and Trend line resistance respectively), 24613, 24730 and 24853. Above 24853 the critical resistance will be the zone between 24860 and 24971. Bulls can come back into the game after the close above 24971. Above 24971 Bulls can create an upward rampage. Tomorrow is a very critical day where Nifty going into November needs to close above 24513 or atleast above 24448. Signs are looking little difficult for Nifty with a negative shadow of the candle but festive buying can bring back the bulls in action hopefully. . To know more about Techno-Funda investment, Mother-Father and Small Child theory, Happy Candles Number read my book The Happy Candles Way to Wealth Creation. Gift it to yourself or your special ones this festive season. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
NIFTY S/R for 4/10/24Support and Resistance Levels: Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline. Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down. Breakouts: Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold. Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying. 20 EMA (Exponential Moving Average): Above 20 EMA(50 EMA): If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum. Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum. Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set. Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward. Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop. RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory. Combining RSI with Support and Resistance: Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal. Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset. Disclaimer: I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
NSE:NIFTY
by zenthosh
NIFTY : Trading Levels and Plan for 06-Nov-2024**Trading Plan for NIFTY on 06-Nov-2024** Intro: In the previous trading session, NIFTY showed a bullish momentum from the important levels highlighted in yesterday's Trading plan. The chart indicated multiple resistance and support levels, with specific zones highlighted for different scenarios. Yellow lines represent potential sideways movement, green lines indicate a bullish trend, and red lines signify a bearish trend. Observing the market's opening tomorrow in relation to these levels will guide the trading approach. --- Trading Plan Scenarios: For 06-Nov-2024, here are trading strategies for various opening scenarios: Gap Up Opening (100+ Points): If NIFTY opens with a significant gap up above 24350 (Opening Resistance), watch for signs of strength to sustain above this level. - If it holds above 24350 , wait for a breakout confirmation before entering a long position. Target levels would be 24581 and 24682 , keeping in mind the Last Resistance for Intraday. - If it fails to sustain above 24350 , be cautious of a pullback towards the Opening Support at 24156 . - Watch for sideways movement (yellow trend) if NIFTY consolidates between 24350 and 24156 . Avoid trades during this sideways movement unless a clear direction emerges. Flat Opening Near 24156 - 24144 Zone: If NIFTY opens flat around the Opening Support levels, monitor the price action closely. - A quick rejection from 24156 could indicate a reversal opportunity towards 24350 (Opening Resistance). Enter long if the price breaks above and sustains. - In case of a breakdown below 24144 , NIFTY may test the lower support at 24020 . Consider short trades if there’s a clear break below this level, aiming for the "Best Buy Zone" near 23725 . - Keep an eye on sideways movement in this range. Avoid trades if the trend remains unclear within this zone. Gap Down Opening (100+ Points): If NIFTY opens with a significant gap down, near or below the "Buyer's Support at Retracement" at 24020 , trade cautiously. - If NIFTY shows buying interest around 24020 , it may present a buying opportunity, targeting 24156 as a recovery level. - If the gap down leads to a breakdown below 24020 , watch for support around 23725 and 23579 in the "Best Buy Zone". Enter short if the bearish trend persists. - Avoid early entries without confirmation of direction, as a gap down could lead to volatility. Use strict stop-loss levels. --- Risk Management Tips for Options Trading: - Stick to defined entry and exit points based on these levels and trends to avoid chasing price. - For long positions, consider buying at-the-money calls if the price breaks resistance levels or sustains a bullish trend. - For short positions, consider buying at-the-money puts near resistance rejections or if NIFTY trends down after a gap down opening. - Use stop-loss orders consistently to manage potential losses. Avoid doubling down on losing positions in highly volatile market conditions. --- Summary & Conclusion: Focus on these key levels to navigate the trading day effectively. Monitor the price reaction to opening levels, as it will guide trade direction. Sideways movement could indicate a consolidating market, while breaks above or below specified zones may present entry opportunities. Disclaimer: I am not a SEBI registered analyst. This analysis is for educational purposes only. Trade at your own risk and consult with a certified professional before making any trading decisions.
NSE:NIFTY
by LiveTradingBox
FIIs continue to weigh in on Nifty Index. Unblemished sell off from FIIs has dampened the festive mood of investors in the Indian markets. Looks like there was not much support for DIIs today as Retails investors might be busy with Diwali festival so FIIs today had a clear upper hand. There are signs of bottom formation and Higher high higher low pattern is formed on Nifty. Unless we have a closing below 24172 or 24069 levels, I think the things will hold. If we get a closing below 24K bears and FIIs can push Nifty further down to 23.8K or 23.2K levels. Thus supports for Nifty are at 24172, 24142 and 24069 levels. Resistances for Nifty remains at 24242, 24370, 24395, 24505, 24601, 24702 and finally 24811 levels. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment