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NIFTY trade ideas

Nifty 50 Index chart using Elliott Wave Theory 15 min chart Observations: Downtrend in Progress: The chart shows a strong downtrend, with a steep decline followed by a small retracement. Wave Structure: The large drop could be Wave 3 (impulsive). The current minor pullback may be Wave 4 (corrective). If this is true, a Wave 5 downward move might follow. Expected Next Move: If the correction (Wave 4) is not complete: A bit more upward retracement could occur before the final Wave 5 drop. If Wave 4 is complete: The market could enter Wave 5, leading to another leg down. Confirmation: A break below recent lows confirms Wave 5 down. A strong bounce above 22,186–22,240 could mean the downtrend is weakening.
NSE:NIFTY
by AITraderIndia
NIFTY S/R for 3/3/25Support 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. MA Ribbon (EMA 20, EMA 50, EMA 100, EMA 200) : Above EMA: If the stock price is above the EMA, it suggests a potential uptrend or bullish momentum. Below EMA: If the stock price is below the 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. 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
Market Still Searching for Bottom. Nifty is still searching for a firm bottom from where it can form a base and launch a comeback. RSI of Nifty on Weekly chart is at 34.15. The weekly RSI was this low only during COVID fall when market RSI had gone below the level of 20. Most of the levels are being broken down week after week and day after day. Now Nifty supports are at 22054 and 21813. 21813 seems to be a very strong support if this support is broken we have only 21281 support which was the Election day low where there was a fear of regime change. If 21281 is broken then 20507 and 19706 Father line of weekly Chart. Daily RSI is at 22.4 which indicates Nifty might be near the oversold zone. Upside resistances for Nifty are at 22588, 22743. Crossing these 2 hurdles will bring in a formidable Fibonacci resistance of 23214 and 23334 (Mother line of Weekly chart) into picture. Bulls can make a come back only after we get a closing above 23334. Amongst all these negative indications Nifty 50 PE valuations are at 19.7. The 10 year Average PE of Nifty 50 is at 23.5. Which means lot of stocks are trading below their 10 year Price to Earning average and value buyers can see an opportunity here for long term investment and they can start collecting fallen stars. Daily 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 or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. 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. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
NIFTY 50 Weekly Chart Technical AnalysisTechnical Analysis of NIFTY 50 Weekly Chart ________________________________________ 1. Chart Overview • The chart represents the NIFTY 50 Index on a weekly timeframe. • A significant downtrend is visible after reaching a recent high near 26,277. • The index is trading around 22,124, close to an identified support level. • The chart includes volume bars, MACD, and RSI indicators to analyze trend strength and momentum. ________________________________________ 2. Key Chart Features and Pattern Observations • Support & Resistance Levels: o Resistance: ~ 26,277 (marked in purple). o Support: ~ 21,281 (marked in blue), with a lower potential support around 18,837. • Price Action: o The market recently made a lower high, signaling weakness. o A series of red candles indicates strong selling pressure. o The price is approaching a crucial support zone, where a potential bounce might occur. • Trend: o The primary trend is bearish, as seen from the continuous red candles. o The recent downtrend has been accompanied by increased selling volume. ________________________________________ 3. Indicator Analysis Volume: • Volume has increased on the recent red candles, confirming strong selling pressure. • A decrease in volume near support could indicate exhaustion of selling. MACD (Moving Average Convergence Divergence): • The MACD line (red) is below the signal line (blue), indicating bearish momentum. • The histogram is showing negative bars, confirming a downtrend. • No signs of a bullish crossover yet. RSI (Relative Strength Index): • RSI is currently at 36.28, near the oversold zone (30). • If RSI drops below 30, it could indicate an extreme oversold condition, signaling a possible reversal. ________________________________________ 4. Key Levels or Price Levels • Resistance Levels: o 26,277 – Major resistance from the recent high. o 23,500 - 24,000 – Possible minor resistance if a rebound occurs. • Support Levels: o 21,281 – Immediate support, if broken, may lead to further downside. o 18,837 – Stronger support level, last major swing low. ________________________________________ 5. Overall Summary • Bearish Trend: Price action, MACD, and RSI confirm a downward trend. • Support Test: The market is near a critical support at 21,281. • Oversold Conditions Approaching: RSI is nearing oversold levels, suggesting a potential bounce. ________________________________________ 6. Trading Strategy Bearish Scenario (Short Selling) • If 21,281 breaks, a short trade can be taken with targets of 20,500 - 19,000. • Stop-loss: Above 22,500. Bullish Scenario (Buy on Reversal) • If the price shows support of around 21,281, a long trade can be considered. • Confirmation: Bullish candlestick pattern or RSI divergence. • Target: 23,500 - 24,000. • Stop-loss: Below 21,000. ________________________________________ 7. Conclusion • NIFTY is in a strong bearish trend, and price action indicates further downside unless support at 21,281 holds. • Key decision area: If price holds at support, a bounce may occur. If broken, expect further downside. • Traders should watch for confirmation signals like bullish candlestick formations, RSI divergence, or volume decrease to gauge potential reversals.
NSE:NIFTY
by ramumaurya