NIFTY trade ideas
Nifty Vs Moon Phases: How interesting is the chart?(educational)Look at the chart and the effect of moon phases on moves of Nifty. The dark circle resonates with the dates of no moon day and Grey circle indicates the day when we saw a full moon. Invariably in most of the no moon days as can be seen in the chart index is at the peak near no moon day. Then there is a fall seen in Nifty. Recovery starts in few days of Full moon day and then again Nifty makes a peak near no moon day? Is it just a coincidence? Well the chart says everything that I have to say but there is serendipity. If we go by this analysis the recovery in Nifty might be round the corner. Say tomorrow or may be first half of next week.
RSI is currently on daily chart is at 37.9 with supports at 36.43 or 26.21 that was the lowest RSI in the last one year on daily charts.
Bollinger band shows a support zone near 24430 range. That is the place around which we can expect the turnaround. Father line support is near 23389 which currently looks like a worst case scenario. Resistance for Nifty seems to be at 25033 and 25400.
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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.
Nifty Plummets! All Targets Achieved in 15-Minute Short TradeTechnical Analysis: Nifty – 15-Minute Timeframe (Short Trade)
Nifty provided a clear short trade setup with an entry at 25006.45 on 16th October at 2:45 PM. The trade has been highly successful, with the price reaching all designated profit targets.
Key Levels
Entry: 25006.45 – The short position was initiated here following a strong bearish signal.
Stop-Loss (SL): 25032.75 – Placed above recent resistance to manage risk against a potential reversal.
Take Profit 1 (TP1): 24973.90 – The first target was quickly reached, confirming the initial bearish momentum.
Take Profit 2 (TP2): 24921.30 – Further downside pressure pushed the price to this level.
Take Profit 3 (TP3): 24868.70 – The bearish trend continued, achieving this target.
Take Profit 4 (TP4): 24836.20 – The final target, marking a complete and successful trade.
Trend Analysis
The price stayed firmly below the Risological Dotted trendline, affirming the strength of the bearish trend. The sustained selling pressure helped achieve all targets, indicating strong market momentum in favor of sellers.
The short trade on Nifty has concluded successfully, hitting all targets, with the final target at 24836.20. The precision of the entry and the guidance of the Risological Dotted trendline ensured a profitable trade.
NIFTY S/R for 18/10/24Support 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.
Nifty 50 Analysis: Head and Shoulders Pattern CompletedEarlier, I shared my personal analysis of Nifty 50, highlighting the formation of a potential head and shoulders pattern. At the time, I noted key levels:
Resistance at 25,400: If Nifty broke above this level, I would wait for confirmation from the next candle before making any moves.
Support at 24,800: A drop below this would signal the start of a downtrend, prompting caution and a hold on trades.
Now, the pattern has fully formed, and the next critical step is to observe tomorrow's candle. If Nifty stays below 24,800, it would confirm the downtrend, signaling a good time to prepare for buying opportunities as stocks become more attractively priced.
Nifty looks in head and shoulder patterns Nifty is showing the the head and shoulder pattern which seems as nifty might go on a slight correction .
Nifty might go down if patterns followsAs there is clear head and shoulder pattern in nifty. if it follows there will be correction we can see in coming days.
Nifty 50 - head and shoulders patternThe Nifty 50 appears to be forming a head and shoulders pattern, which is typically viewed as a bearish indicator, signaling a potential trend reversal. It’s important to approach positions with caution.
NIFTY HEAD & SHOULDER PATTERN ON DAILY FRAMEBe cautious in market now. Nifty has formed head & shoulder pattern o daily frame and closing below 24750 on daily frame can result in sharp fall up to 1500 points downside or targets upto 23300.
Only if nifty closes below 24750 on daily frame.
The reversal will happen soon.Nifty is now forming a bullish divergence after generating a buy signal a few sessions ago. This box represents your buying zone, with the stop loss set on a closing basis for the 4-hour time frame chart. Almost all indices are following a similar pattern, signalling that a major bull run is ahead. Late October and early November are expected to be very strong. Weak hands are being shaken out, so we should enter as soon as the price reaches the buying zone and continue accumulating gradually.
nifty 50nifty niow completed its bat pattern there is a chance of reversal if todays low not breached.
Nifty Now momentum level Nifty Now momentum level Very confusion market only for watch the break above side and downside now still watch the given level Above side 25225 Downside 24650 you can enter given this level
My Nifty Analysis- PesonalMy Nifty Analysis- Pesonal
1) Support zone broke, so retesting will be done.
2) Will fall, if retest go as planned
3) Will get some restrictino in midway
4) Again there will be fall.
5) One day will come for sharp recovery.
Bearish_H&S pattern in Nifty_Tar 23800Nifty forms head and shoulder pattern and now in neck location. If the neck broken with strong Big Red candle, then it confirms. Target 23800
Disclaimer: Above idea is only for study purpose and totally my own view. It's not a Call for buy/sell. I am not a registered call provider.
#NIFTY Intraday Support and Resistance Levels - 17/10/2024Flat or slightly gap up opening expected in nifty near 25000 level. Bullish rally expected if nifty starts trading and sustain above 25050 level. Below 25000 level there will be downside expected upto 24850 level. For today session 24850 level will act as an important support for nifty. Below this level strong downside expected in index.
Mother, Father lines and the trend line stopping NiftyEvery effort of Nifty is being stopped by mother line, Father line or the trend line. It shows weakness but the turnaround might be around the corner. The possible turnaround zones can be around 24915, 24684 or 24478. If we get a closing below 24478 bears can take over. Resistances on the upper side are 25045, 25088 and 25230. Above 25230 bulls can take a commanding position. Very delicately placed Nifty with a negative shadow of the candle. But some turn around can be expected within this week or the next when we get support from one of the zones mentioned above.
NIFTY 50 KEY LEVELS FOR 17/10/2024//@description
// All credit goes to Tony for the concept of this indicator. His Trading View link: www.tradingview.com
// Note: The calculation method in this indicator differs from Tony's, but the concept is derived from his work.
**Explanation:**
This trading system helps you avoid blind trades by providing confirmation for better entries and exits. It considers volume, past prices, price range and indiavix.
**Entry/Exit Points:**
- **Entry/Exit Lines:** Use the BLACK line for long trades and the RED line for short trades, based on confirmation from your trading plan.
- **Stop Loss:** For long trades, set the stop loss at the RED line below. For short trades, set it at the BLACK line above.
- **Take Profit:** For long trades, target the next RED line above. For short trades, target the next BLACK line below.
**Timeframe:**
Use a 5 timeframe for trading.
**Risk Disclaimer:**
This setup is for educational purposes. I'm not responsible for your gains or losses. Check the chart for more details.
NIFTY : Trading Levels and Plan for 17-Oct-2024Nifty Trading Plan for 17th October 2024
In the previous session, Nifty faced significant resistance near the 25,120 zone, marking the Opening Resistance level, while the downside held near the No Trade Zone around 25,001. This suggests a range-bound movement with potential for either a breakout above 25,137 or a breakdown below 24,881, which acts as strong Buyer’s Support. Heading into 17th October, we must be prepared for multiple opening scenarios based on the price action and gap behavior.
Gap-Up Opening (100+ Points):
If Nifty opens with a gap-up above the 25,137 resistance zone, avoid chasing the price right at the open. Let the price stabilize and confirm above 25,137.
Look for a breakout towards the Profit Booking Zone around 25,236-25,279. Book profits gradually in this zone to avoid sudden pullbacks.
If the price fails to hold above 25,137, expect a potential correction back to 25,120 or even the Opening Resistance at 25,087. Avoid aggressive long positions if this pullback occurs.
Keep a tight stop-loss below 25,087 for any gap-up longs.
Flat Opening:
A flat opening near 24,959 or 25,001 should be followed by waiting for the first 30 minutes of market action.
A breakout above 25,087-25,120 can be used as an opportunity to take longs targeting 25,137 and eventually 25,236.
If the market consolidates near the No Trade Zone, avoid fresh entries until clear direction is established. A breakdown below 24,941 might signal weakness.
Place a stop-loss below 24,941 for long positions to limit potential downside risk.
Gap-Down Opening (100+ Points):
If Nifty opens with a gap-down near Buyer’s Support at 24,881, wait for a bullish confirmation before entering long trades. A recovery from this zone could push the price back towards 24,984 and 25,001.
A breakdown below 24,850 could extend the downside towards the Must-Try Zone (Buyer’s Last Important Support) at 24,747. Avoid catching falling knives in this scenario.
If Nifty shows strength near 24,881, look for buying opportunities with a tight stop-loss just below 24,850.
Book profits on any recovery towards the No Trade Zone and stay cautious of potential reversals.
Risk Management Tips for Options Trading:
Consider using options spreads like bull call spreads or iron condors to limit risk, especially in volatile conditions.
Avoid taking large option positions around the No Trade Zone to mitigate the impact of time decay.
Place defined stop-losses based on levels like 25,137 for long calls or 24,850 for long puts, to minimize risk in case the market reverses.
When trading options in high volatility, aim to book profits early near key resistance/support levels like 25,137 or 24,881.
Summary & Conclusion:
Nifty remains in a delicate zone, and the key levels to watch on 17th October are 25,137 on the upside and 24,881 on the downside. The market’s ability to break and sustain beyond these levels will determine the direction. Avoid taking trades within the No Trade Zone (24,941-25,001) without clear confirmation. Proper risk management is essential, especially when trading options in such an environment. Stick to predefined stop-loss levels and avoid over-leveraging.
Disclaimer: I am not a SEBI registered analyst. This plan is based on my personal analysis using technical parameters. Traders should conduct their own research or consult with a financial advisor before making any trading decisions.
Nifty Analysis For 17/10/2024Nifty Analysis for tomorrow 17/10/24
Long Above 25088 & so on tgt
Short below 24890 & so on tgt
Otherwise sideways Market
NIFTY50.....Waves c of b of iv up next?Hello Traders,
the NIFTY50 is moving sideways from 25234 to 24908 in sum! It shows the pattern of a bull-flag, what often turns into a move to the upside. So to say, a "continuation pattern".
If so to come, the next move is to the upside, as I wrote before. Switch to the 1-hour chart also confirms the "3-down".
Again; if so to come, one possible price range for such a move ranges from 25466 to 25500 area. Here, a wave c of b of iv should end.
A straight decline to new lows below the possible wave a of iv move, should open the door to 23893 area, where a wave 4 of lower degree has been established!
So friends, that's it for a quick note today.
Have a great week.....
Ruebennase
Please ask or comment if necessary.
Trading based on this analysis is at your own risk.
Nifty & Bank Nifty Analysis and Trade Plan for 17th October || Nifty & Bank Nifty Analysis and Trade Plan for 17th October ||
NIFTY S/R for 17/10/24Support 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.
