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NIFTY trade ideas

NIFTY : levels and plan for 05-Sep-2024The Nifty index on 4th September 2024 showed a steady upward movement, breaking past key levels and heading into a resistance/sideways zone near 25,272. The price action within the day maintained a bullish bias but faced hesitation in the no-trade zone, hinting at pending selling pressure. Several support zones were identified near 25,112 and 25,046, with the lower trend reversal zone indicating a strong buying interest around 24,974. Moving into the 5th of September, we must assess the potential opening scenarios to structure our trades accordingly. Trading Plan for 5th September 2024: Gap Up Opening (+100 points or more): If Nifty opens with a gap-up above 25,272, we enter the resistance/sideways zone. Wait for price action confirmation before initiating trades, as this could be a high-risk area with pending selling pressure. If the price consolidates near 25,399, monitor for a possible breakout above resistance. A sustained move above this level could lead to further upward momentum. However, if the index starts showing signs of weakness, watch for a reversal pattern and consider short positions with a target back to 25,272 or below. Ensure a stop loss just above 25,399 to manage risk. Flat Opening (+/- 50 points): In case of a flat opening near 25,204, it is crucial to let the market settle for the first 30 minutes to avoid getting trapped in the no-trade zone. If the index holds above 25,204 and heads towards 25,272, look for buying opportunities targeting 25,399. On the downside, if it breaks below 25,176, expect a move toward the first support at 25,112. Take short positions with a target around 25,112 while keeping a stop loss above 25,272. Gap Down Opening (-100 points or more): If the market opens with a gap-down and falls near 25,046, watch for a potential sideways movement within the support zone. This area could offer a low-risk buying opportunity for intraday traders. However, if 25,046 fails to hold, expect further downside to the trend reversal zone at 24,974, which should be a strong support level for buying. Consider long positions at this level with a stop loss below 24,954 and a target near 25,112. If prices fail to reverse from this zone, avoid catching the falling knife. Risk Management Tips for Options Trading: - Consider using defined-risk strategies like bull call spreads or bear put spreads to limit exposure. - Always keep a close eye on the premiums, as volatility might spike during gap openings, leading to inflated options prices. - Avoid chasing high-risk trades at the extremes of the opening range unless strong confirmation appears. - Use stop-loss orders and maintain discipline, especially in volatile markets. Exiting a trade with minimal loss is better than holding a losing position. Summary and Conclusion: Today's trading plan revolves around carefully monitoring Nifty's behavior within the key levels of 25,399 on the upside and 24,954 on the downside. For a gap-up scenario, watch for resistance and potential reversals. Flat openings require caution in the no-trade zone, while gap-down openings may present good buying opportunities at support levels. Remember to be patient during the first 30 minutes and wait for the right setup before entering positions. Disclaimer: I am not a SEBI-registered analyst. The information provided here is for educational purposes only. Please conduct your analysis or consult with a financial advisor before making any trading decisions.
NSE:NIFTYLong
by LiveTradingBox
Multiple trendlines converging and diverging consolidating NiftyThere are multiple global and local factors playing together line the multiple trendlines shown in the graph converging and diverging. These forces are not allowing Nifty to fall much and recover if it falls. At the same time they are not allowing Nifty to fly away towards 25.5K and above. The support levels for Nifty are at 25133 (Mother Line Support), 25083, 25005 and 24875 (Bottom of the current channel). Resistances for Nifty will be at 25207, 25251, 25304 and finally 25337.
NSE:NIFTY
by Happy_Candles_Investment
NIFTY INTRADAY LEVELS FOR 05 SEP 2024BUY ABOVE - 25240 SL - 25180 TARGETS - 25320,25400,25470 SELL BELOW - 25180 SL - 25240 TARGETS - 25130,25080,25030 NO TRADE ZONE - 25180 to 25240 Previous Day High - 25240 Previous Day Low - 25080 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 on the cusp for potential correction!Dear Traders, I trust this message finds you well in both your trading endeavors and personal pursuits. I am pleased to present a compelling opportunity through a new NIFTY analysis that indicates an imminent significant market shift. The recent upward surge in the market has prompted concerns, as my analysis over the past two months has consistently pointed to an anticipated correction owing to market overvaluation and distinct completion patterns. Technical details: I. Resistance I: 25,388 ~ 25,430 (Extended trend line from 17th JUN'22) II. Resistance II: 25,490 ~ 25,510 ~ 25,526 (Conj. Extended trend line from 24 JAN'24 & 24 JUN'24) III. Resistance III: 25,590 (Extended trend line from 29 FEB'16 – Long & strong Resistance) *** Please note that these values serve as indicative levels of support and resistance. The wave patterns depicted in the diagram signal the completion of the trend. imgur.com Additional observations: Time series Forecasting: Top - Top - Today (04/09/2024) = 1690 D from 20jan'20 (1710 = 360*4 + 270) = 1053 D from 19oct'21 (1080 = 360*3) = 644 D from 01dec'22 (630 = 360+270) = 356 D from 15sept'23 (~360) Bottom – Top - Today (04/09/24) = 1626 D from 24mar'20 (1620 = 4*360+180) = 811 D from 17jun'22 (810 = 720 + 90) = 315 D from 26oct'23 (exactly an important angle) = 535 D from 20mar'23 (540 = 360 + 180) Given these short and long-term observations, the time resistance(s) are notably robust. Historical Repetition: The ongoing 14-day winning streak, continuously setting new records, typically precedes short-term corrections ranging from 3% to 24%, as historically observed. For instance, in May 2006, Nifty’s non-stop 9-day rally culminated in a 24% index decline in the subsequent month, while a similar trend in February 2000 resulted in an 11% decline in the subsequent month. Consequently, a market breather is anticipated, with profit booking potentially driving the market to deeper levels before embarking on a new uptrend (anticipated correction in the monthly scale, evident in the 3M time frame). Further details will be provided as the market unfolds. A correction of this magnitude is expected to materialize, with the following scenarios: The initial focus is to prioritize the trend line-based correction scenario. The primary support levels are identified at 23,100. Any subsequent breakout will result in distinct scenarios. Scenario 1: From 15,183.40, retracement towards 21,500 = 4,000 pts (38.2%R) (-12 to 15%), highly probable given the aforementioned reasons. Scenario 2: From 16,828, retracement towards 21,100 levels = 4,400 pts (50%R) (-13% to 17%), also plausible within the realm of reality. One of these scenarios is poised to unfold as the market progresses into correction. Fed and Markets: Considering the correlation between interest rates and market fluctuations, it is wise to take them into account. Typically, their relationship is inversely proportional. However, the Fed has been delaying the easing process due to economic conditions such as employment and inflation data. This month may bring many surprises. If everything goes according to plan, interest rates will be reduced, theoretically boosting investment in gold and stock markets. On the other hand, if the dovishness in the rate decision continues, it will likely unsettle the markets, at least in the short term. Further data releases this month will help in forming a consensus. IMPORTANT DATES TO REMEMBER!!! Sept - 5, 6, 11, 12, 18 (FOMC) Strategy : 1. Being bullish beyond this point is not recommended. 2. Bearish bets are prudent from 25, 300 – 350, 400 for FOMO traders. Risky traders may consider waiting for the 25,500 levels to be tested. Disclaimer: Before concluding, I must underscore that the insights shared are based on my analysis. It is imperative for you to conduct your research and, if necessary, consult with a financial advisor before making any trading decisions. The dynamic nature of financial markets necessitates that your strategies align with your financial goals and risk tolerance. Your feedback is genuinely appreciated, and I would encourage you to share your thoughts in the comments section. I am committed to engaging with each response. Fellow Traders, Countless hours of dedication and effort have gone into creating this valuable analytical resource. If you find it useful, I humbly ask for your support by liking and following me. Your comments and thoughts on this idea are highly valued, and I am committed to engaging with each one personally. Thank you for investing your time in reading this article, Your readership is greatly appreciated. Wishing you profitable and joyful trading!!!
NSE:NIFTYShort
by WDG_Dinesh_Gengarajan
NIFTY S/R for 4/9/24Support 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
Closing below trendline today shows some weakness in the rallyAlthough the closing on Nifty today was flat, as you can see from the chart closing was below a trendline which shows weakness. This weakness can lead to little more consolidation or can send Nifty searching for a substantial support. Resistance on the upper side seem to be at 25304 and 25337. Supports for Nifty are at 25241, 25197 below this level the major support for Nifty will be 25122 (Major support, Mother line, 50 EMA). If by chance 25122 is broken only 2 major supports will be at 25081 and 25005. Shadow of the candle as of now looks negative as of now.
NSE:NIFTY
by Happy_Candles_Investment
NIFTY INTRADAY LEVELS FOR 04 SEP 2024BUY ABOVE - 25320 SL - 25240 TARGETS - 25400,25470,25530 SELL BELOW - 25240 SL - 25320 TARGETS - 25200,25180,25080 NO TRADE ZONE - 25240 to 25320 Previous Day High - 25320 Previous Day Low - 25240 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 - Levels and Plan for 04-Sep-2024On 3rd September 2024, Nifty exhibited a range-bound movement, hovering within the key levels identified in the previous sessions. The market displayed a mix of consolidation and testing, setting the stage for potential breakout or breakdown scenarios in the coming session. This trading plan will address various possibilities for the opening on 4th September 2024, considering a 100+ point gap opening, and will offer strategies to approach each situation effectively. Trading Plan for 4th September 2024 Gap Up Opening (100+ Points Above Closing): If Nifty opens with a gap-up, it is likely to test the Important Resistance zone around 25,376.00 to 25,399.00. The initial reaction in this area will be crucial for determining the day's trend. - Should Nifty sustain above 25,399.00, consider going long with a target towards the Profit Booking Zone at ATH of 25,450.00 to 25,469.20. Partial profit booking is advisable near these levels. - If Nifty struggles to sustain above 25,376.00 after a gap-up, it might face selling pressure. Look for shorting opportunities with a target back to the NO TRADE ZONE around 25,303.00. A break below this could extend losses towards 25,278.00. Flat Opening (Around Previous Close): A flat opening around the previous close of 25,265.90 would suggest indecision, potentially leading to range-bound activity within key support and resistance levels. - If Nifty manages to break and sustain above 25,303.00, it could signal a bullish bias. Look for long opportunities with a target of 25,376.00 to 25,399.00. Further momentum could take Nifty towards the ATH zone. - A breakdown below 25,220.00 could indicate weakness, targeting the Buyer's Support (Try Zone) at 25,199.00. Further downside could test the Last Support for Trend Reversal at 25,122.00. Gap Down Opening (100+ Points Below Closing): A gap-down opening below the Buyer's Support level of 25,199.00 might indicate bearish sentiment, and further downside could be expected. - If Nifty opens near or below 25,122.00, this could be a sign of strong selling pressure. Consider short positions with targets towards 25,075.00 or lower. - If Nifty shows a recovery after the gap down and reclaims 25,220.00, it might attempt to fill the gap. Look for long opportunities with a target towards 25,303.00, but be cautious of resistance around this level. Risk Management Tips for Options Trading Avoid taking positions right at the market open; wait for the first 15-30 minutes for the market to establish a direction. For options trading, consider selling call options near resistance levels in case of a gap-up and selling put options near support levels in case of a gap-down. Use a strict stop loss, preferably based on hourly candle closes, to avoid unnecessary losses due to intraday volatility. Scale into positions gradually, especially if trading in a volatile market environment or near key support and resistance levels. Summary and Conclusion Nifty's performance on 4th September 2024 will likely be influenced by how it reacts to the key levels identified in this plan. Pay close attention to the Important Resistance zone around 25,376.00 to 25,399.00 and the Buyer's Support zone around 25,199.00 for potential trading opportunities. Maintain disciplined risk management, especially in options trading, to navigate the day's volatility effectively. Disclaimer: I am not a SEBI-registered analyst. This trading plan is based on personal analysis and is for educational purposes. Traders should conduct their analysis or consult with a financial advisor before making any trading decisions.
NSE:NIFTY
by LiveTradingBox
Attempts of Nifty to break free not successfulNifty has attempted multiple times to break free and run wild but it has not succeeded. After making a new high there is consistent bout of profit booking seen. Over a few days now overall market breadth is not on the positive side. This phenomenon is natural when we are making new tops almost every day. Resistances for Nifty at this juncture are at 25330 and 25375. Supports for Nifty remain at 25242, 25193 (Strong support of the trendline) below this level major support will be near 25081 which is a combination of Mid channel support and Mother line support making it a very strong support. If 25081 is broken by any change 24993 will be the only major support remaining before the Nifty falls to Father line support or 24677. To know the importance of Mother and Father line support and to know about the Mother, Father and the Small child theory of stock market (formulated by me), you need to read my book The Happy Candles Way to Wealth creation available on Amazon in paperback and Kindle version.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Flag & Pole Bullish Continuation Pattern for TomorrowFor tomorrow, focusing on the Nifty50 in a 15-minute timeframe, the price action indicates a potential continuation pattern known as the "Flag and Pole." This pattern typically suggests that the current trend is likely to continue after a brief consolidation phase. Below is a detailed breakdown of the possible price action: Technical Analysis Overview: Pattern Type : Flag and Pole (Continuation) Script : Nifty (Index) Timeframe : 15-Minute Chart Trading Type : Futures and Options (FnO) Price Pattern Characteristics: The Flag and Pole pattern consists of two key components: The Pole : Represents a sharp and strong directional move, typically upward, indicating a significant bullish sentiment. In this case, Nifty has exhibited a strong rally, forming the “Pole” of the pattern. The Flag : After the sharp rise, the price enters a consolidation phase with a slight downward or sideways drift. The “Flag” forms as price moves within a tight range, typically between two parallel trendlines sloping downward. Trade Setup and Expectations: The price is currently in the consolidation phase, creating the Flag. This temporary pause is likely to be followed by another bullish move, resuming the earlier uptrend. Breakout Confirmation: The key level to watch is the upper trendline of the Flag. A breakout above this level, coupled with strong volume, would signal the continuation of the uptrend. Possible Targets: Target 1 (T1): 25100 Target 2 (T2): 25200 Stoploss : 24970 These targets are based on the measured move concept, where the height of the Pole is projected from the breakout point. Risk Management: Given the nature of this continuation pattern, it’s crucial to wait for a confirmed breakout with volume before entering the trade. Set a stop loss slightly below the lower trendline of the Flag to manage risk. Conclusion: The Flag and Pole pattern on Nifty's 15-minute chart points towards a bullish continuation, making it a favorable setup for FnO traders. However, ensure proper risk management, as patterns may fail or face unexpected market influences. This analysis should be taken as a probable scenario rather than an exact prediction, with adaptability to real-time price action being key. Disclaimer : DO NOT FOLLOW THIS STUDY BLINDLY. PLEASE DO YOUR OWN ANALYSIS BEFORE TAKING A TRADE.
NSE:NIFTYLong
by Amankuckreja
3
NIFTY INTRADAY LEVELS FOR 03 SEP 2024BUY ABOVE - 25320 SL - 25260 TARGETS - 25400,25470,25530 SELL BELOW - 25260 SL - 25320 TARGETS - 25300,25130,25080 NO TRADE ZONE - 25260 to 25320 Previous Day High - 25320 Previous Day Low - 25260 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 50 Levels for 03/09/2024**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-minute 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
NIFTY - Trading Levels and Plan for 03-Sep-2024In the previous session on 02-Sep-2024, Nifty witnessed a range-bound movement with a slight bearish bias. The index respected the key resistance levels, especially around the 25,303 zone, while the support levels near 25,206 remained intact. This suggests the market is consolidating before a potential move in either direction. The chart pattern indicates indecision among market participants, making tomorrow's opening crucial for setting the tone. --- Trading Plan Scenarios: 1. Gap Up Opening (+100 points or more): If Nifty opens with a gap up of 100 points or more, it will likely open above the important resistance zone of 25,399. Watch for price action around 25,399-25,496. If Nifty sustains above 25,399, the next logical target will be 25,496, which is the profit-booking zone for trend reversal. Wait for a retest near 25,399 if you are planning to enter long positions, with a strict stop loss just below 25,376. Avoid aggressive buying in the profit-booking zone, as a potential reversal may occur. In this scenario, maintaining a cautious approach and waiting for a clear breakout above 25,496 is advisable before initiating fresh long positions. --- 2. Flat Opening (Within ± 50 points): If Nifty opens flat, within a 50-point range, it will likely trade within the No Trade Zone of 25,303-25,278. Wait for a breakout from this zone. A move above 25,303 with volume can trigger a short-term rally towards 25,399. On the downside, if Nifty breaks below 25,278, expect a retest of the opening support zone around 25,206. Avoid taking positions within the No Trade Zone to minimize the risk of whipsaws. Trade cautiously and allow the price to decide the direction by breaking out of the No Trade Zone before making any trading decisions. --- 3. Gap Down Opening (-100 points or more): A gap down opening of 100 points or more will bring Nifty close to or below the opening support zone of 25,206-25,197. Watch for buying interest in the support zone around 25,206-25,197. If Nifty holds this level, we may see a recovery towards 25,278. However, if the support fails, the next key level to watch would be the Buyer’s Support for Retracement near 25,123. Be cautious with short positions at these lower levels, as there could be a sharp pullback. In a gap-down scenario, look for signs of reversal near the support levels before entering trades. --- Risk Management Tips for Options Trading: Use hedged strategies like bull call spreads or bear put spreads to limit your risk exposure. Avoid holding positions overnight in uncertain market conditions, especially near resistance or support zones. Stick to a predefined stop loss and avoid moving it during volatile market conditions. --- Summary & Conclusion: Tomorrow’s opening will play a critical role in setting the market direction. A gap up will likely test the resistance levels, while a gap down may bring the support zones into focus. For flat openings, patience will be key as the market decides its next move. Utilize proper risk management strategies, especially in options trading, to protect your capital in this uncertain environment. --- Disclaimer: I am not a SEBI registered analyst. This trading plan is for educational purposes only. Please conduct your analysis or consult with a financial advisor before making any trading decisions.
NSE:NIFTYShort
by LiveTradingBox
Nifty 50 - NO MORE Corrections until 2028 (Minimum)Nifty - Quarterly Chart To all those "Useless" Media Channels & TV Analysts who are trying to Panic retailers scaring them about a Major Correction / Crash in Nifty - everytime Nifty hits a new ATH - Here are detailed evidences to Debunk your "Bed-time" Stories Don't waste our time giving the same reasons of Over-Heated RSI, Over-Valued Stocks and all the more the Stupid Rate Cuts from the Fed 1. To begin with - Fed has been delaying rate cuts over and over and over - and nothing happened to the market and it keeps increasing up. No one really cares about Rate cuts or not. May be on the Day of announcement - there will be a Minor Blip and that's all - Maximum - an "One-Night Stand" and nothing else 2. As per the Nifty Quarterly Chart - since 1990 till now - there has been only 2 major corrections 1. During 2007 Financial Crisis - RSI was overheated to 86.85 on Quarterly. But Remember - RSI was over 75 from Oct 2005 till Oct 2007. If RSI is supposed to work - then why was there NO corrections until Oct 2007 ? None of you will have an answer.... and Market Fell because of Financial Crisis - NOT because of RSI - will you atleast learn now ? From Oct 2007 to Jan 2009 - Market corrected 52% and RSI fell 43% (This was the Only time in the 34 year history where Market fall was more than RSI fall) 2. Between Jan 2015 to Apr 2016 - Market Fell -9% and RSI fell -14% when the so called Overheated RSI fell from 77 levels 3. Between Dec 2019 to Apr 2020 - Market fell -30% and RSI fell -41%. And again its NOT because of the Over-Rated RSI indicator getting Over Heated, but rather due to Covid 4. Between Jan 2022 to Jul 2022 - Market Fell -11% and RSI fell -14%. And again you need to learn that this was not because of Over Heated RSI, but rather due to Russian War Hope this sets the clarity on how Market corrects. So, Don't blindly believe on anyone giving False Panic Alarm. They don't know anything about how market functions. Just because they use some Jargons which you don't understand does not mean they know more than you. They only know how to confuse you - nothing more than that As per the LIFE-LONG Parallel Channel - we are right in middle there is 2x Room left to Grow. The next time we will hit the Top of the Parallel Channel is approx Apr 2028 - reaching 51,300 levels in Nifty - By then - I will be Open to listening a Correction If you want to learn Market - Spend Time Analyzing - Not GOSSIPING....
NSE:NIFTYLong
by Stocks-n-Trends
7
Nifty Short, Medium & Long Term : 02-Sep-24 to 06-Sep-24Nifty Short, Medium & Long Term : 02-Sep-24 to 06-Sep-24 Nifty closed at 25235 ( Last week 24823 ) and touched low & high of 24899-25263 ( all time high) As suggested for past two weeks, market bounced back and moved up and achieved the first Medium term target 25224. Caution to be emphasized on Nifty as nifty PE is in high level with high valuation especially in Mid cap & Small Cap. Those with lesser risk can sell partial portfolio ( 20-30%) stocks which have less valuation and can wait for opportunity to buy when nifty dips upto 22800. This is the best period to start SIP MF when the valuation is high. Deploy stop loss of upto 7%-8% which is crucial. More Risky players can have stop loss of trend line resistance of 23750 as shown in the chart. RSI and stochastics levels moved up last week (69% and 97% respectively). MACD level crossed cross the signal two weeks before and sustaining. Expecting market to move up further in short term. Nifty 25235 Short term (Short term up) Nifty short term resistance 25540 as shown in chart. Support around 25000(last month high) & 24676 ( trend line support and recent low). Medium Term 25235, next target is 25800 ( Fib Resistance). if it moves above decisively next target is 26250. Medium term Support - 24000 Long Term : Nifty have a target of 27000 ( Fibonacci Resistance). If market close above 25540 decisively. Support at 22800 Post Indian Elections, reduction of interest rate by RBI is expected on a staggered manner till it reaches 5% ( in span of 2-3 years ) in line with US fed rate reduction expected in Sep 2024. US President Election scheduled in Nov 24. Until then Market may correct if any global news upto19500 as there is strong multiple fib support in this range. Nifty bank 51368 (Last week 50933 ) - Index have target of 54000 in medium term and support at 49900 Stock Picking is needed at current scenario in Bank, auto, Pharma stocks. Newly added stocks to buy are PI Ind, PNC Infra and Ashoka Buildcon. As insisted for last 3 months Banks & Finanace Stocks are really good and will give good results, as expected Q4 results are good especially for ICICI Bank, HDFC Bank, Indian Bank & Punjab National Bank. Fundamentally good stocks can be added as it posted good results on every dip in finance stocks such as Manappuram Finance, suryoday small fin, Motilal Fin, Chola Finance, Other stocks like Dr Reddys, Natco Pharma, Cipla, JK Cements, Biocon, Tanla & persistent Sys can add these stocks to portfolio. There is a possibility of dip to 21000-22000, hence please buy in parcels and every dip of Index and every dip of individual stocks (2-5% of portfolio on each purchase for long term) The above stocks mentioned are based on analysis of top line & Bottom line performance, hence based on the risk and portfolio mix one can add after analysis. Nifty IT 42760 (Last week 41089 ) indices dipped to 37848 in Jun month, bounced back and all time high last week. Recovery of US stock market and awaiting FED rate cute decision pushed the US stocks up and followed by Nifty IT Index.
NSE:NIFTYLong
by karthikss