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NIFTY trade ideas

Nifty - Is it about to TOP OUT?This article will concentrate on the fundamental aspects of identifying the conclusion of Wave 5 within the framework of the Elliott Wave Principle. According to established guidelines: 1) Wave 5 typically projects to 61.8% of the distance covered by Waves 1 to 3. 2) The minimum extension is set at 38.2% of Waves 1 to 3. 3) In instances of extensions in the fifth wave, projections can reach as high as 100%. Upon analyzing the Nifty index using these criteria, we observe that the primary wave has extended, with a projection of 100% estimated at approximately 26,339. The next degree wave, comprising (1), (2), (3), (4), and (5), has a standard projection of around 26,385. Meanwhile, the lowest degree wave, represented as 1-2-3-4-5, has a typical projection of 61.8% at about 26,252. By integrating these figures, we identify a potential zone between 26,252 and 26,339 that may signify the conclusion of Wave 5. Examining the indicators for additional insights, we note that the monthly RSI is around 82, marking the highest level since the 2008 financial crisis. Considering all the aforementioned factors, it is plausible to suggest that the Nifty index may experience a reversal within this identified zone. However, i t is essential to remain aware that we are currently in a bull market, and we should await price action and candlestick patterns for confirmation before making any trading decisions. All wave counts are illustrated on the accompanying chart. For a detailed explanation on Elliot waves basics, please refer to the following link:https://www.investopedia.com/terms/e/elliottwavetheory.asp DISCLAIMER: It is important to note that the information provided in this analysis is intended solely for educational purposes. It is strongly advised to consult with a financial advisor prior to making any investment decisions. I cannot be held responsible for any financial losses that may occur.
NSE:NIFTYEducation
by harshit22
1
NIFTY : LEVELS AND PLAN FOR 13-SEP-2024Intro: On 12th September 2024, Nifty witnessed a sharp rally, with prices breaking through key resistance levels and moving towards the upper range of 25,478. The index closed just below the resistance zone, indicating a potential sideways or retracement move. The critical levels to watch for the next trading session are 25,478 as a resistance and 25,223 as immediate support. The price action suggests the index may remain range-bound or retrace slightly before making the next move. Trading Plan for 13th September 2024 Gap Up Opening (+100 points): If Nifty opens above the resistance zone of 25,478, it indicates bullish momentum, but traders should be cautious as the profit-booking zone (25,624 – 25,685) is nearby. A rejection from this zone could signal a shorting opportunity targeting the opening resistance at 25,478 and then the support at 25,394. However, if an hourly candle closes above 25,685, fresh buying could be considered, targeting a continuation of the rally. less Copy code Strategy: - Short near 25,624 with a stop loss above 25,685. - Target: 25,478/25,394. Flat Opening: In case of a flat opening near 25,314, the index will be trading close to its opening resistance. Traders should wait for the first 30 minutes to confirm price action. If Nifty sustains above 25,394, it can move toward the resistance zone at 25,478. Conversely, a breakdown below 25,314 could trigger a retracement to the support at 25,223. vbnet Copy code Strategy: - Buy above 25,394 with a stop loss below 25,314. - Target: 25,478/25,624. - Short below 25,314 with a stop loss above 25,394. - Target: 25,223/25,112. Gap Down Opening (-100 points): A gap down opening near 25,223 or lower would bring the first support at retracement into focus. If the 25,223 level holds, it presents a buying opportunity with a target towards 25,314. However, a break below 25,112 could signal further weakness, where traders may look for the best buying level near the previous breakout zone of 25,093. vbnet Copy code Strategy: - Buy near 25,223 with a stop loss below 25,112. - Target: 25,314/25,394. - Short below 25,112 with a stop loss above 25,223. - Target: 25,093/25,000. Risk Management Tips for Options Trading: Always hedge your options trades using spreads, especially in volatile market conditions. Avoid holding naked long options overnight as time decay (theta) could erode premiums. Stick to ITM or slightly OTM options for better delta exposure in trending markets. Use a fixed percentage of your capital (no more than 2-3%) for each options trade to manage risk. Summary & Conclusion: Nifty is currently in a range where the resistance at 25,478 and the support at 25,223 are key levels to watch. A sustained move above 25,478 could push the index into the profit-booking zone, while a breakdown below 25,223 could lead to further retracement. Traders should stay patient and wait for price confirmation before entering trades, especially during the first 30 minutes of market opening. Disclaimer: I am not a SEBI-registered analyst. The ideas shared are for educational purposes only. Please conduct your own analysis or consult with a financial advisor before making any trading decisions.
NSE:NIFTYLong
by LiveTradingBox
NIFTY INTRADAY LEVELS FOR 13/09/2024BUY ABOVE - 25420 SL - 25320 TARGETS - 25500,25580,25650 SELL BELOW - 25320 SL - 25420 TARGETS - 25240,24190,24130 NO TRADE ZONE - 25320 to 25420 Previous Day High - 25420 Previous Day Low - 24950 Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. Please NOTE: this levels are for intraday trading only. Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. Request your support and engagement by liking and commenting & follow to provide encouragement HAPPY TRADING 👍
NSE:NIFTY
by Jagadheesh_JP
2
Fresh Bullish Breakout in Nifty after consolidation. Nifty consolidated for a while tested new bottom near 24753 Nifty has today taken down all the resistances and made a new all time high of 25433. Nifty could not hold on to 25.4K+ levels today so the immediate resistance for Nifty will be today's high that is 25433. The next resistance is near 24537. Channel top seems to be near 25653. The door are now open for 26K+ long term target. As of now the long term target as per the trend line seems to be near 26355 with supports at 25293, 24910 and recent bottom formed near 24753. Below this level Mother line support will be near 24571 below which the trend can change bearish.
NSE:NIFTYLong
by Happy_Candles_Investment
NIFTY INTRADAY LEVELS FOR 12/09/2024BUY ABOVE - 24950 SL - 24900 TARGETS - 25020,25080,25130 SELL BELOW - 24900 SL - 24950 TARGETS - 24860,24800,24750 NO TRADE ZONE - 24900 to 24950 Previous Day High - 25130 Previous Day Low - 24900 Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. Please NOTE: this levels are for intraday trading only. Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. Request your support and engagement by liking and commenting & follow to provide encouragement HAPPY TRADING 👍
NSE:NIFTY
by Jagadheesh_JP
NIFTY S/R for 12/9/24Support 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: 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 : Levels for 12-Sep-2024 Trading Plan for 12th September 2024: We will consider all scenarios for market opening with a gap of 100+ points. Follow the appropriate trading plan based on how the market opens: Gap Up Opening (+100 points or more): If Nifty opens above 25,050, it is crucial to assess whether the market can hold above the Resistance at CHoCH Zone (around 25,150). - Wait for the first 15-minute candle to close above 25,150 for confirmation. - Enter a long position if the market sustains above this level, targeting the profit booking zone near 25,300. - Keep a stop loss at 25,050 on a closing basis for risk management. If Nifty rejects the resistance zone and begins to reverse, look for shorting opportunities with a target towards 24,950-24,900 range. Flat Opening (within 100 points): If Nifty opens near 24,950-24,900, avoid taking positions in the "No Trade Zone" (24,900-24,833). - Wait for a breakout above 25,050 or breakdown below 24,833 to initiate trades. - For a breakout above 25,050, target 25,150 with a stop loss at 24,950. - For a breakdown below 24,833, target the support zone at 24,706, with a stop loss above 24,850. Gap Down Opening (-100 points or more): If Nifty opens below 24,833, closely monitor price action around the "Support Zone at Retracement (BoS Zone)" between 24,706 and 24,652. - If this support zone holds, initiate a long position with a target towards 24,833 and a stop loss at 24,650. - If Nifty breaks below 24,650, expect further downside towards the "Best Buy Zone" around 24,568-24,512. Enter long positions only if the price action shows signs of reversal near the best buy zone. Risk Management Tips for Options Trading: - Trade with proper position sizing: avoid risking more than 1-2% of your capital on a single trade. - For buying options, consider out-of-the-money (OTM) options only if you expect a large move; otherwise, trade at-the-money (ATM) options for better risk management. - Use a trailing stop loss to protect profits, especially when trading options with high volatility. - Keep an eye on time decay, especially during sideways movements in the "No Trade Zone." Summary and Conclusion: For 12th September 2024, Nifty's potential movement depends on how it reacts around the key levels mentioned above. A gap up may face resistance around the CHoCH zone, while a flat or gap-down opening could test the lower support levels. Follow the price action closely before entering trades, and adhere to strict risk management rules to navigate the intraday volatility. Disclaimer: I am not a SEBI registered analyst. The views expressed are my own based on technical analysis and personal experience. Traders should conduct their own research or consult with a financial advisor before making any trading decisions.
NSE:NIFTY
by LiveTradingBox
Nifty getting trapped between two trend lines forming a pennant Nifty is getting trapped between Two trend lines and will look to consolidate further till the trend line is broken on either side. In addition to the trend lines, Nifty is also trapped between Mother and Father line of 50 and 200 Hours EMA. Very interestingly poised Nifty with negative shadow of the candle. Immediate resistances are near 24970, 25027, 25130 and 25192. Above 25192 Bulls can start to breathe easy. Supports for Nifty are at 24885 are 24821. 24821 is the most important support as it is just below the trend line and also 200 Hours EMA that is the Father line. If father line is broken Nifty can further fall to 24751 or even 24527.
NSE:NIFTY
by Happy_Candles_Investment
NIFTY 50 KEY LEVELS FOR 12/09/2024**Explanation:** This trading system helps you avoid blind trades by providing confirmation for better entries and exits. It considers volume, past prices, and price range. **Entry/Exit Points:** - **Entry/Exit Lines:** Use the GREEN 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 GREEN line above. - **Take Profit:** For long trades, target the next RED line above. For short trades, target the next GREEN 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.
NSE:NIFTY
by nandupk
Potential Trade Setup: RISE ON SELLPotential Trade Setup: Based on the chart and the provided information, a potential trade setup could be: Entry: Sell at the current price (around 25950) if the price falls below the resistance level (around 25050. Stop Loss: Place a stop-loss order at 25120 to limit potential losses. Target: The potential target for this trade is 24880 - 24850. Disclaimer: This analysis is based on the provided chart and information. It's important to conduct your own research and consider other factors before making any investment decisions. Technical analysis is a tool to help identify potential trading opportunities, but it doesn't guarantee profits. Always consult with a financial advisor for personalized advice.
NSE:NIFTYShort
by Trade_With_Prakash
Nifty 50: Short-Term Bearish OutlookKey Observations Short-Term Downtrend: The chart indicates a short-term downtrend, as evidenced by a series of lower highs and lower lows. Resistance Levels: The price is currently below resistance levels at 25,110.00 and 25,140.00. If the price fails to break above these levels, it could signal further downward movement. Support Levels: Support levels may exist around 25,050.00 and 24,980.00. If the price drops below these levels, it could indicate a potential acceleration of the downtrend. Trendlines: Descending trendlines may be in place, providing additional resistance to upward price movements. Disclaimer: While I can provide a general analysis of the chart, it's essential to consult with a financial advisor before making any investment decisions. Market conditions can change rapidly, and past performance is not indicative of future results.  
NSE:NIFTYShort
by Trade_With_Prakash
NIFTY S/R for 11/9/24Support 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: 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