Two important Resistances to conquer for Nifty ahead. There are 2 important resistances for Nifty ahead which need to be conquered for the Bull run that started post budget to sustain. These 2 resistances are at 23630 and 23809. Today Nifty made a good comeback from lows of the day which was near 23556 to close at 23603. The resistnace near 23809 acted again as Nifty plummeted from the level of 23773 to fall to 23556. The trend line shown in the chart acted as support for Nifty to come back into the game. There are 3 important events coming up later. RBI Policy where market is expecting a rate cur. Delhi election results and finally Income tax bill to be tabled in the parliament. Market is fearing a little bit and hoping that there is no bad news related to LTCG or STCG etc. in the bill.
Nifty supports remain at: 23556, 23498 and 23484 (Mother and Father line of the daily chart). If this line is broken we can see Nifty falling to old support system of 23376 and 23222. Closing below 23222 can bring the Bears back into the game and calling the shots again.
Nifty Resistances remain at: 23630 and 23809. If these to resistances are conquered we can a strong up move towards 24K level with resistances at 23991, 24197 and 24344 level. Above 24344 level Bulls will come out of ICU and start taking control of the system.
Shadow of the candle right now is absolutely neutral. Tomorrows closing will be very important a closing above 23630 will be good but closing above 23809 will be great. Similarly a closing below 23556 will make the market weak. Nicely balanced right now.
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. 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.
NIFTY trade ideas
NIFTY S/R for 6/2/25Support 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.
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.
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 Intraday Support and Resistance Levels - 06/02/2025Gap up opening expected in nifty near the 23800 level. After opening if it's starts trading and sustain above 23800 level then expected strong upside rally towards the 23950 level in today's session. 23700-23800 is the consolidation zone for nifty. Any major downside rally expected below the 23700 level.
NIFTY only looks strong above 23800 now !! As we can see NIFTY closed in more like sideways to native as expected as it took resistance from the trendline. Now as long as a NIFTY manages to remain itself below the trendline, we can see sideways to bearishness with intense volatility as budget is on the door hence for future continuation it must sustain itself above 23800 so plan your trades accordingly and keep watching
nifty coming toward 22677.75 till 3 feb 2025 on gann fan 1/2 Nifty heading toward 22677.75 till 3 feb 2025 on gann fan 1/2 level from high of 1/1 gann fan high level recorded on 27 sep 2024. 1/2 gann level is final support level if nifty breaks 1/2 gann fan level on 3 feb 2025 recession will be confirmed and market will head downwards otherwise it will reverse and make new high within a year.
Nifty chart to analyze gann fan analysis Nifty completed its high level on Gann fan 1/1 level drawn from corona period low point and made high of 27/09/2024 at 26277 without missing a single point. The election day low is also marked without missing a single point at 2/1 Gann fan level. The nifty may touch 22652 level i.e 2/1 Gann level till 3 feb 2025 after that nifty uptrend will get confirmed. The same chart had been published on 21/09/24 under idea
Nifty tried to consolidate today after the BO yesterday. Nifty did well to consolidate and end above 50 and 200 days EMA today Nifty closed at 23696 and the Mother and Father lines are at 23664 and 23620 respectively. These Two lines will continue to act as support for the coming days and sessions. Nifty faced a very stiff resistance today as expected near 23800. It will not be easy to cross this resistance. This was made clear by us in earlier messages. Exit poll results, followed by RBI rate cut followed by actual Delhi state election results in favour of market expectation can lead to a positive sentiment build up and these levels can be taken down and Nifty can even regain 24K levels in the coming time.
Nifty supports remain at: 23664 (Mother line), 23620 (Father Line), 23346 and 23222. Below 23222 weekly closing Nifty will become very bearish.
Nifty Resistances remain at: 23809, 23883, 23984 24108 and finally 24197. Above 24197 Weekly closing Nifty will become very bullish.
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. 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.
NIFTY 50 KEY LEVEL FOR 06/02/2025**Explanation:**
This trading system helps you avoid blind trades by providing confirmation for better entries and exits.
**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 mins 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 Review & Analysis - DailyPrice Action :
Nifty consolidated hitting a high of 23800 taoday and closed in slight negative
Technicals:
Nifty opened above 23800 and traded below it for whole day in a narrow range and closed at lowest point of day forming a small Bearish candle. A small profit booking was see at 23800 levels (from downward trend line from previous highs) but over all looked strong and stable managing to close above 10.20,50,200 DEMA.
The momentum indicators, RSI - Relative Strength Index improved to 56
Support/Resistance
Major Support 23500
Immediate Support 23600
Immediate Resistance 23750
Major Resistance 24000
Trend:
Overall Trend is Bearish but short term Nifty is bit positive if trades above 22300
Options Data:
Highest CE OI was at 24000 ( swa some addition) - Resistance
Highest PE OI was at 23500 (saw addition) - Support
23700CE 23800CE saw major addition signaling Shorts added & 23700 is Resistance
PCR is 0.9 which indicates not Bearish
Futures Data:
FII Long/Short ratio improved to 12%/82%
Nifty Futures price was in neagative, a slight decrease in price alongside slight decrease in Open Interest (OI) typically indicates small profit booking
Outlook for Next Session:
Nifty in Strong above 23500
Approch:
Maintain Long positions with 23500 SL
avoid shorts
Wait for today’s High or Low to break and sustaines for further direction
My Trades & Positions:
still holding Long in Feb Series CE waiting for a big Short covering above 24100
NIFTY - Trading Levels and Plan for 06-Feb-2025📌 NIFTY TRADING PLAN – 06-Feb-2025
🔹 Previous Close: 23,685.10
🔹 Important Zones Identified:
🟥 Sharp Profit Booking Zone: 24,065 - 24,154🟥 Opening Resistance: 23,848🟧 Opening Support / Resistance: 23,683 - 23,658🟩 Last Intraday Support: 23,567🟢 Buyer's Support: 23,374 - 23,345
📈 Scenario 1: Gap-Up Opening (Above 100+ Points)
If NIFTY opens with a strong gap-up above 23,785, it will move toward the Opening Resistance (23,848) and may attempt to test the Profit Booking Zone (24,065 - 24,154).
🔹 Bullish Strategy:
If NIFTY sustains above 23,848, expect a continuation towards 24,065 - 24,154.
An ideal entry can be on a pullback towards 23,848, with a stop-loss below 23,750.
🔻 Bearish Reversal Plan:
If NIFTY shows rejection around 24,065 - 24,154, a short trade can be initiated.
Target for shorts: 23,848 - 23,685.
Stop-loss for short trades: Above 24,200.
📝 Pro Tip: If NIFTY opens directly in the Profit Booking Zone, avoid aggressive long positions. Wait for a breakout or a reversal setup.
📊 Scenario 2: Flat Opening (Between 23,683 - 23,658)
A flat opening means NIFTY is near the Opening Support / Resistance Zone (23,683 - 23,658). Patience is required to confirm the direction.
🔹 Bullish Plan:
If NIFTY breaks above 23,685 with strong volume, a long trade can be considered.
Targets: 23,743 - 23,848.
Stop-loss: Below 23,650.
🔻 Bearish Breakdown:
If NIFTY breaks below 23,658, expect a decline towards 23,567.
Short trades can be initiated with a stop-loss above 23,700.
📝 Pro Tip: Flat openings often result in choppy movement for the first 15-30 minutes. Let the market establish direction before entering trades.
📉 Scenario 3: Gap-Down Opening (Below 23,567)
If NIFTY opens below 23,567, it enters the Last Intraday Support Zone and may attempt to test the Buyer's Support (23,374 - 23,345).
🔹 Buying Opportunity:
A strong bullish reversal from 23,374 - 23,345 can provide a long opportunity.
Target: 23,567 - 23,685.
Stop-loss: Below 23,300.
🔻 Further Breakdown Plan:
If 23,345 is broken, expect further downside towards 23,200.
Short trades can be initiated with SL above 23,400.
📝 Pro Tip: If NIFTY gaps down but quickly recovers above 23,567, it could be a bear trap—watch for bullish confirmations.
⚠️ Risk Management & Options Trading Tips
✔ For Option Buyers: Select ATM (At-the-Money) strikes to avoid time decay. Enter only when price action confirms the trade.
✔ For Option Sellers: If IV (Implied Volatility) is high, consider selling OTM (Out-of-the-Money) options near key resistance/support levels.
✔ Always use SL: Protect capital! A good Risk-to-Reward (R:R) ratio is essential for long-term success.
✔ Avoid Overtrading: Stick to planned setups—don’t force trades.
📌 Summary & Conclusion
🚀 Bullish above: 23,685 (Target 23,848+)📉 Bearish below: 23,658 (Target 23,567 - 23,345)⚠️ Watch Key Zones: No Trade Zone & Profit Booking Area📊 Expect Volatility: Let the first 15-30 minutes settle before aggressive trades.
⚠️ Disclaimer: I am not a SEBI-registered analyst. This analysis is for educational purposes only. Always do your own research before taking any trades. 📢📊
#NIFTY Intraday Support and Resistance Levels - 05/02/2025Gap up opening expected in nifty. After opening expected nifty will continue it's bullish rally towards the 23950+ level in today's session. 23650 level will act as a strong support for today's session. Major downside only expected if nifty not sustain above level and starts trading below 23600. Below this level sharp downside expected upto the 23400 level.
Nifty Intraday Support & Resistance Levels for 05.02.2025Tuesday’s session was strong for Nifty, as it opened with a 149-point gap-up, made a low of 23,423.15, and surged to a high of 23,762.75, entering deep into the Daily Supply Zone. It finally closed at 23,739.25, gaining 378 points over the previous close. The Weekly & Daily Trend (50 SMA) remain sideways.
Demand/Support Zones
Near Demand/Support Zone (75m): 23,327 - 23,381.60
Near Demand/Support Zone (15m): 23,141 - 23,205.70
Far Demand/Support Zone (30m): 22,786.90 - 22,843.30
Far Demand/Support Zone (Daily): 21,791.95 - 22,910.15 (Tested)
Far Support Level: 21,281.45 (Low of 4th June 2024)
Supply/Resistance Zones
Near Supply/Resistance Zone (Daily): 23,496.15 - 23,795.20 (Current price is deep inside the zone)
Near Supply/Resistance Zone (Daily): 23,976 - 24,196.45
Far Supply/Resistance Zone (Daily): 24,601.75 - 24,782.15
Far Supply/Resistance Zone (Weekly): 24,180.80 - 24,792.30
Outlook
After taking support at the Daily Demand Zone on 27th January, Nifty has already rallied 975 points (22,857 to 23,762). However, the Weekly & Daily Trend (50 SMA) remains sideways. To break the lower high - lower low structure, Nifty must sustain above 24,250 in the coming days.
ANOTHER MAKE or BREAK area for NIFTY…?NIFTY has rallied over 1000++ points from our demand zone and has now reached another MAKE or BREAK level trendline which has been acting as a crucial zone hence we may see rejection around this trendline if opens flat but will eventually breakout for new highs so plan your trades accordingly.
NIFTY 50 KEY LEVELS FOR 05/02/2025**Explanation:**
This trading system helps you avoid blind trades by providing confirmation for better entries and exits.
**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 mins 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.
Superb closing above Mother and Father Line Resistance. We had a very good closing today by Nifty at 23739 which is above Mother and Father line of resistance but there is a trendline resistance now at 23745 which Nifty was not able to cross today after briefly hovering above it as it made a high of 23762.
The next resistances in line for Nifty if it is able to cross 23745 swiftly will be at 23883 and 24108. Closing above 24108 can bring the Bulls back into the game and take us to the next resistances at 24281, 24596, 24898 and finally 25K+ levels.
Supports for Nifty are at 23663 (Mother Line support), 23619 (Father line support), 23421 and 23222. Below 23222 Nifty will become weak again and in such a scenario Nifty can fall to below 23K levels of 22976, 22797 or even 22316.
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. 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.