NIFTY trade ideas
Combination of Fibonacci and trend lines and Parallel Channel. We will try to look at Nifty with the combination of Fibonacci, Parallel Channel and Trend lines and few other parameters to get the outlook for short to medium term on Nifty. Combination of various parameters mentioned above indicate that Door For Nifty reaching 26K+ within this year might have already opened. Various resistances on the way will be at 24783, 24874 followed by strong resistance of the previous high of 25078. Once we get a weekly or a monthly closing above 25078 the next resistances will be at 25410, 25839 and finally 26321 (Within this year or within this financial year). Supports for Nifty will be at 24643, 24517, 24324 and finally 24115. Below 24115 the final support for Nifty will be at 23893. Below this level the bull rally will be over and bears can take control of the market.
NIFTY INTRADAY LEVELS FOR 22 AUG 2024BUY ABOVE - 24780
SL - 24740
TARGETS - 24850,24900,24960
SELL BELOW - 24660
SL - 24700
TARGETS - 24600,24530,24460
NO TRADE ZONE - 24660 to 24780
Previous Day High - 24780
Previous Day Low - 24660
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 👍
NIFTY : Levels and Plan for 22-AUG-2024The previous trading session showed a steady upward trend in the NIFTY INDEX,. The chart reflects a bullish sentiment, with the index moving closer to the resistance levels. As we approach the trading day on 22-Aug-2024, key levels such as the "Last Resistance for New HIGH" and "Last Support for Trend Reversal" will be crucial in determining the market's direction.
### **Trading Plan for 22-Aug-2024**
Scenario 1: Gap Up Opening (100+ points)
If Nifty opens above the "Last Resistance for New HIGH" at **24,824**, the first target should be the **25,052** mark, which represents a potential new high. Monitor price action closely as profit booking might occur at these elevated levels.
In case of a strong bullish move, consider trailing your stop loss to lock in profits, as the market could continue its upward momentum.
Risk Management: Place a stop loss just below **24,824** to protect against any sudden reversal. If the price starts to drop after reaching the resistance, exit the position early to minimize risk.
Scenario 2: Flat Opening
A flat opening near **24,782** could see the index trading between the "Opening Support" at **24,726** and the "Last Resistance for New HIGH" at **24,824**.
If the price sustains above **24,824**, target the **25,052** level for a potential breakout. Conversely, if the price falls below **24,726**, expect a decline towards the "Last Support for Trend Reversal" at **24,661**.
Risk Management: Set a stop loss just below **24,726** for long positions or above **24,824** for short positions to maintain a favorable risk/reward ratio.
Scenario 3: Gap Down Opening (100+ points)
A gap down below the "Opening Support" at **24,726** could lead to increased selling pressure, with the price likely testing the "Last Support for Trend Reversal" at **24,661**.
If this support holds, there could be a buying opportunity with a target back towards **24,726**. However, if the price breaks below **24,661**, it may trigger a larger downtrend towards the **24,543** mark.
Risk Management: Place a tight stop loss below **24,661** to manage risk, especially if trading options, as the volatility could lead to rapid premium changes.
### **Risk Management Tips for Options Trading**
- Use spreads to limit your exposure to large moves in either direction. For example, consider a bull call spread if you're expecting a modest rise or a bear put spread if anticipating a drop.
- Be cautious with overnight positions, as unexpected global events could lead to significant gap openings against your position.
- Keep an eye on implied volatility; it can significantly affect option premiums. High IV may suggest inflated premiums, making it a good time to sell options rather than buy.
### **Summary and Conclusion**
The Nifty 50 shows a potential for further upward movement on 22-Aug-2024, particularly if it breaks through the **24,824** resistance level. However, traders should be prepared for reversals, especially if the market opens with a gap down. Key levels to monitor include **24,824**, **24,726**, and **24,661**. Proper risk management is essential, particularly in options trading, where market movements can be swift and volatile.
Disclaimer: I am not a SEBI registered analyst. The above analysis is for educational purposes only and should not be construed as trading advice. Please do your own research or consult a financial advisor before making any trading decisions.
Its time to take profit Nitfy will go lower very soon , coz if you are long position , you should take profit & wait for a while to enter the position.
NIFTY S/R for 22/8/24Support and Resistance Levels:
Support Levels: These are price points (green line/share) 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.
NIFTY All Targets Done and Dusted!Nifty hits all targets beautifully.
Entry on 16 August 2024 at price 24,322
Closed 50% position today and holding the remaining 50% position
Trailing stoploss at 24,560 as per the Risological swing trading indicator
Cheers!
NIFTY Podcast 21 Aug 2024Altogether, three trades setup were there today for NIFTY, But I was able to take only the first two.
Notes:
- The third trade was highly risky, as the OI Data was just positive in small numbers, and on the other side BANK NIFTY OI Data was negative.
- Today should've opted for Credit Spread/Debit Spread on the second trade, as there was theta decay in the premium although the expiry is next day
Nifty Shortterm ViewNifty Shortterm View on Daily TF
Looks like Trendline testing is pending on Downside
and if we invert the chart structure , then also i feel taking risk on downside is having better R:R
Even if market breaks Present ATH, this Trendlines are still valid as long as they didnt get validated.
#NIFTY Intraday Support and Resistance Levels - 21/08/2024🔔 Nifty Update for Today:
📈 Gap-Up Opening Expected:
Expected Opening Level: Near 24700
Key Level: 24700
Potential Upside Target: 24850
Nifty is expected to open with a gap up near the 24700 level today. If the index sustains above this level after opening, we could witness a strong upside rally, potentially reaching up to 24850 during the session.
📉 Watch for Downside Risks:
Critical Reversal Level: 24650
Support Level: 24500
However, if Nifty starts trading below 24650, downside movement may occur. The 24500 level will serve as an important support in today’s session.
Gap generated on 5th August Finally Filled today. Gap generated due to gap down opening of 5th August is finally filled today. It is not necessary that all gaps either on the way up or on the way down are filled every time. As there are different type of gaps and different timings of gaps / intervals etc there are many factors which create loop holes in the gap theory. We will discuss that some other time. Gap Theory is a subject in itself. The supports for Nifty now are at 24517, 24324 and finally 24088. Resistances for Nifty in the short to medium term are at 24736, 24857, 24950 and 25080.
Nifty M pattern Bearish 23000 Target Month EndM pattern forms Daily Candlestick
23000 Target Month End
BELOW 24100 Support zone
WEAK Global Market
On 50EMA || RSI Below 60 || ADX Below 20
Daily market analysis tomorrow 21st AugustDaily Show on NIFTY, BANKNIFTY, FINNIFTY and USDINR, where we try and predict the market direction for tomorrow by technical analysis, Open Interest (OI) data analysis, FII DII data analysis and much more. This show gives insights into the market and is especially useful if you are a beginner who has just started options trading and wants to learn how to trade using price action and other chart techniques.
Disclaimer: This is not an investment recommendation, advice, research report, or stock tip of any nature. We are doing this only to understand how to read derivative data and perform technical analysis. Strictly for educational purposes only.
#nifty50 #banknifty #nifty50prediction #usdinr #optionstradingstrategy #technicalanalysis #tradingforbeginners #niftyprediction #sharemarkettrading #marketpredictiontoday #priceaction #usdinrprediction #niftytechnicalanalysisfortomorrow #tradingchartanalysis #usdinrtradingstrategytomorrow #openinterest
NIFTY INTRADAY LEVELS FOR 21/08/2024BUY ABOVE - 24730
SL - 24660
TARGETS - 24780,24850,24900
SELL BELOW - 24660
SL - 24730
TARGETS - 24600,24530,24460
NO TRADE ZONE - 24660 to 24730
Previous Day High - 24730
Previous Day Low - 24600
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 👍
NIFTY - Levels and Plan for 21-Apr-2024On 20-Aug-2024, Nifty 50 showed a mixed movement, with a significant resistance zone forming around 24,720, followed by a narrow trading range labeled as a "No Trade Zone." The previous day's price action suggests cautious trading as the market faces overhead resistance near 24,824, while buyers' support rests around 24,543. The market's behavior within these key levels will be crucial for today's trading decisions.
As we approach the 21st of August, it is essential to prepare for all possible opening scenarios, especially considering a gap opening of 100+ points. This plan will guide you through different market openings and offer risk management tips for options trading.
Gap Up Opening (100+ Points)
If the market opens significantly higher, above the 24,720 resistance level, we should carefully observe the price action near 24,824.
Entry: Wait for a minor pullback towards 24,720 to enter a long position. This level will act as support after a gap-up. If the price holds, initiate a long position.
Target: The immediate target is 24,824, with a potential for further upside if the resistance is broken.
Stop Loss: Place a stop loss below 24,720 to protect against a reversal.
If the price fails to hold above 24,720 and dips back into the "No Trade Zone," it might indicate a gap filling scenario, and caution is advised.
Alternative Plan: If the price falls back below 24,720 after a gap-up, wait for a clear rejection of 24,720 resistance before considering shorting, targeting 24,661.
Flat Opening
In the case of a flat opening around the 24,672 level, close to the "No Trade Zone," we must be prepared for both upward and downward movements.
Entry: If the market starts moving upwards from the opening, wait for a breakout above 24,720 to enter long. If it moves downwards, look for a break below 24,661 to enter short.
Target: For longs, aim for 24,824; for shorts, aim for 24,616.
Stop Loss: Place a stop loss at 24,661 for long positions and 24,720 for short positions.
This setup ensures you are positioned for a move in either direction, depending on the market's strength.
Gap Down Opening (100+ Points)
If the market opens significantly lower, below the support zone of 24,616, expect a more bearish sentiment throughout the day.
Entry: Consider entering short positions on a pullback towards 24,616 if this level turns into resistance.
Target: Aim for a target near 24,543, the last support for intraday.
Stop Loss: Place a stop loss above 24,616 to limit losses in case of a reversal.
If the price fails to sustain below 24,616 and starts recovering, the gap might get filled, and a reversal play could be considered.
Alternative Plan: In case of a recovery, wait for a clear move above 24,616 to initiate longs targeting 24,661.
Risk Management Tips for Options Trading
Position Sizing: Keep your position size small, especially on volatile days, to minimize risk exposure.
Time Decay: Be mindful of time decay, especially when trading weekly options. Consider entering near-the-money strikes for better liquidity.
Hedge Positions: Use protective puts or call spreads to limit potential losses in case the market moves against your position.
Avoid Overtrading: Stick to your plan and avoid overtrading, which can lead to emotional decisions and unnecessary losses.
Summary and Conclusion
Today’s trading plan revolves around key levels identified in the previous session, with particular attention to the "No Trade Zone" around 24,661-24,720. Gap scenarios are critical, and managing risk effectively is essential for a successful trading day. Keep an eye on how the market reacts to the 24,720 resistance and 24,616 support zones, as they will dictate the direction of the market.
Disclaimer: I am not a SEBI-registered analyst. The trading plan shared above is based on personal analysis and is for educational purposes only. Please trade responsibly and consult with your financial advisor before making any trading decisions.
NIFTY S/R for 21/8/24Support and Resistance Levels:
Support Levels: These are price points (green line/share) 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.
NIFTY Podcast Strategy - 20 Aug 2024Based on Gap up strategy and Podcast strategy combined, took 1 trade on NIFTY.
NIFTY Prediction - All targets met!NIFTY 375 points profit!
We got a clear entry in Nifty on 16 August at 24,322 using the Risological Swing Trading indicator.
Closed 50% of the position on target 4 and currently holding the remaining 50% till the price crosses below the Risological trendline (dotted line).
How was your trades? Share your views.
#NIFTY Intraday Support and Resistance Levels - 20/08/2024Today will be slightly gap up opening in nifty. If nifty starts trading above 24650 level then possible upside rally upto 24850+ in today's session. Similarly if it's starts trading below 24500 then downside fall expected. 24500-24650 will act as a consolidation zone in today's session. Any strong movement only expected breakout of this zone.
NIFTY INTRADAY LEVELS FOR 20/08/2024BUY ABOVE - 24600
SL - 24530
TARGETS - 24660,24710,24780
SELL BELOW - 24530
SL - 24600
TARGETS - 24460,24380,24320
NO TRADE ZONE - 24530 to 24600
Previous Day High - 24660
Previous Day Low - 24530
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 👍
Nifty50 - Elliott Wave CountNifty50 - Elliott Wave Count
NSE:NIFTY NSEIX:NIFTY1! NSE:NIFTY1!
Nifty50 - Elliott Wave Count
nifty for 20 AugustIn current market scenario Nifty is quiet neutral and the double bottom pattern is spending so I am thinking that Nifty will be very for 24 150 one more time and after touching that point it will go towards 25000 one biggest breakpoint is 24640.
