NIFTY and BANKNIFTY Analysis for 17th Jan Hi All,
Sharing my analysis in NIFTY and BANKNFTY for 17th Jan. HOpe you enjoy it.
NIFTY trade ideas
NIFTY heading towards 22800 levels..??As we can see despite the strong opening, NIFTY failed to sustain itself at higher levels and had been negative to sideways throughout the day. Following the structure, we can expect NIFTY to test its important demand zone around 22800 levels hence we can expect more of bearishness or sluggishness in the market before finally reversing so plan your trades accordingly and keep watching.
NIFTY TECHNICAL ANALYSIS For Investment P.O.VJust using zigzag drawing, tried to predict nifty downside possibility. So, we have to be careful about investment and trading strategy. A good buy is half profit done, so let's wait and look for investment according to market sentiment. Market may reverse, we have to update our strategy accordingly. So, practice more zigzag it may save your money and wish you all a big profit ahead.
Good Leap by Nifty today in anticipation of RIL/INFY results. Good Leap by Nifty today in anticipation of RIL/INFY results and closed 98 points up at 23311. Real test is the level of between 23377 (Mother Line) and 23398 (Important Resistance).
This includes today's high and Mother line resistance and another important resistance. After closing above this zone the next resistances will be at 23469, 23598, 23736 and finally 23770 (Father Line resistance of Hourly chart.)
Supports for Nifty on the lower side now remain at 23267, 23147 and 23053. If we get a poor result for Reliance these levels will be tested once again and there will be pressure on Bulls and Bears will again try to overpower Nifty. The tussle has reached a delicate stage now and thing can give. (Either a Breakout of Breakdown).
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. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. I or my clients might have positions in the stocks that we mention in our posts. We will not be responsible for any Profit or loss that may occur due to any financial decision.
Short A significant Head and Shoulders (H&S) formation is forming, and if the neckline is breached, the target is 20,200, which also aligns with the 50% retracement of the rally. As I noted in my previous post, this seems like a more plausible target.
NIFTY 50 Nifty may test the level of EMA 100 Levels 21923
In the past, The actual buying begins from 21300-21250, However, if the market continues to sell, then it is likely to test, bcz of the volatility Zone.
secondly, the market break the support level 21500. It could touch the given levels.
Period - 3 Months
TODAY ANALYSIS 16-01-25 NIFTY EXPIRYMarket open with gap up and show selling pressure all seller short call which show market goes downside and another thing is its fill gap in chart act as resistance..
#NIFTY Intraday Support and Resistance Levels - 16/01/2025Gap up opening expected in nifty. Expected opening near 23400 level. 23350-23400 will act as a strong resistance for today's session. Strong upside rally only expected if nifty starts trading above 23400 level. This rally can goes upto 23600+ level in today's session. Downside expected below 23350 level. This downside can goes upto 23050 level.
The perfect example of Head and Shoulders patternJust wanted to show you guys how this pattern worked out in Nifty this time.
Strong GAP UP but will it sustain? Following the global cues, we can expect NIFTY to open strong as the bank quarterly results has been good but only way to find out if it sustains or not! As if it sustains then we may see new Trend REVERSAL else it will lead to more volatility with new gaps that will be pending to filled so plan your trades accordingly and keep watching
NIFTY & BANKNIFTY AnalysisHi All, Shared my analysis on Nifty and Banknifty and have corelated with Dow zones. Hopefully you enjoy it.
NIFTY S/R for 16/1/25Support and Resistance Levels:
Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline.
Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down.
Breakouts:
Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold.
Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying.
MA Ribbon (EMA 20, EMA 50, EMA 100, EMA 200) :
Above EMA: If the stock price is above the EMA, it suggests a potential uptrend or bullish momentum.
Below EMA: If the stock price is below the EMA, it indicates a potential downtrend or bearish momentum.
Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set.
Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward.
Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop.
Disclaimer:
I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
Nifty Review & Analysis - DailyPrice Action :
Nifty saw traded whole day in range of 150 points like previous day. Can saw side ways or consolidation. Take away is closed in positive.
Technicals:
Nifty traded whole day in a narrow band of 150 points with volumes less than average. The index formed a doji ( meaning indecisiveness )trading below the 10, 20, 50, and 200-day EMAs. The momentum indicators, RSI (Relative Strength Index at 36), and MACD (Moving Average Convergence Divergence) remains below the zero line, indicating weakness still persists.
Support/Resistance
Major Support 23000
Immediate Support 23150
Immediate Resistance 23300
Major Resistance 23450
Trend:
Nifty in sideways to bearish
Options Data:
Weekly Options data suggests huge Call build up at 23300 levels suggesting major Resistance
22200 levels saw little Put Writing suggesting small Support.
PCR improved to 0.8
Futures Data:
FII Long/Short ratio came down to 17%
Nifty Futures saw little increase with small increase in Open Interest suggesting Long addition
Outlook for Next Session:
Nifty might consolidate while stocks perform based on results.
Approch:
No Trade till 23350 or 23100 convinsingly taken out.
Wait for today’s Low or High to break for further direction
My Trades & Positions:
no positions
23K has emerged as a good support zone for Nifty. As of now the 2 day's positive closing has given hopes of 23K levels being a good support zone. However there are 4 major hurdles in the path of Nifty before it can move ahead with full force. Reliance result tomorrow can be of some help to Nifty if at all it is positive. On the other hand if Reliance result is negative it can be a major hurdle looking at the weightage of the script in the index. US Inflation data to be announced later tonight can also give a direction to the markets all over. FII selling pressure can diminish if Dollar falls and Rupee starts making a steady gain. After making a high of 86.69 2 days back USD is currently at 86.34 declining a bit which has increased optimism in the mood of market. Market Mood index is at 33.25 and has recovered from Extreme fear zone and has entered the fear zone.
Supports for Nifty remain at: 23053, 22663 and 22376 levels. Below 22376 Bears can drag Nifty further down by another 400 to 1000 points.
Resistances for Nifty remain at: 23283, 23397 (Mother line resistance), 23598, 23803 (Father line resistance), 24198 and finally 24802 levels. Bulls can be back in the game truly after closing above 24802 level only.
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. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. I or my clients might have positions in the stocks that we mention in our posts. We will not be responsible for any Profit or loss that may occur due to any financial decision
ShortI am currently reassessing my targets for the Nifty. If the level of 23,080 is breached and the index closes below this support, I will adjust my target to around 20,200, as this would indicate a more significant market correction is underway.
This level aligns with the 50% Fibonacci retracement of the recent rally, which further strengthens the case for this correction. In my view, this level is not only plausible but inevitable, given the current market dynamics.
The broader market is signaling a potential major top, which suggests that the risk of further downside is increasing. In this environment, simply averaging into the market can be highly risky, as it may expose investors to larger losses if the market continues to decline.
Instead, I recommend adopting a more strategic approach to portfolio construction, focusing on calculated risks. This means selectively building positions based on strong, risk-adjusted opportunities rather than committing large capital indiscriminately. It’s essential to have a clear risk management plan in place, especially in volatile conditions like the current market environment.
NIFTY | SHORT COVERING | LONG | INTRADAYNIFTY is showing signs of an Intraday short covering reversal trade on the 15 min charts.
This is a weak reversal and in no way indicating that bulls are in charge.
A 100 point move can be anticipated till the level of 23322 price.
SL will the today's low.
nifty the Nifty index! Based on recent analysis, Nifty 50 is expected to face strong resistance around 23,300-23,500 levels. If it manages to break through these levels, it could potentially move higher1. However, if it fails to do so, it might see support around 23,000-22,800
#NIFTY Intraday Support and Resistance Levels - 15/01/2025Gap up opening expected in nifty. After opening nifty will face resistance at 23350 level and expected reversal from this level towards the downside movement upto 23050 level. This downside can be extend for further strong sell side if nifty starts trading below 23000 level. Any major upside rally only expected if nifty gives the breakout and sustain above the 23400 level.
Nifty for 15 janNifty is in down fall and big sapport from their we can see a small down of 200 point if it opan flat and go's down but if it opens gap up or gap down the scenario will be different
So trade carefully
On own risk
SIGNS of REVERSAL..?As we can see it has formed more like a doji candle which shows indecision after a straight downfall hence we can expect NIFTY to REVERSE from our given levels around 22800 so plan your trades accordingly.
Nifty Review & Analysis - DailyPrice Action :
Nifty saw consolidation not breraking previous day’s low.
Technicals:
Nifty traded whole day in a narrow band with volumes less than average. The index formed a doji, trading below the 10, 20, 50, and 200-day EMAs. The momentum indicators, RSI (Relative Strength Index at 34), and MACD (Moving Average Convergence Divergence) remains below the zero line, indicating weakness still persists.
Support/Resistance
Major Support 23000
Immediate Support 23150
Immediate Resistance 23260
Major Resistance 23400
Trend:
Nifty in sideways to bearish
Options Data:
Call addition seen at 23200 and 23000 levels suggesting support and no major Put builduo see suggesting some support and no major resistance at near levels at short term
PCR improved to 0.8 from 0.7 suggesting support at low levels
Futures Data:
FII Long/Short ratio came down to 16%
Nifty Futures saw 0.5% rise with addition in Open Interest suggesting Long addition
Outlook for Next Session:
Nifty might consolidate and try higher levels
Approch:
wait for today’s high to take out in Nifty to go for higher targets.
Wait for today’s Low or High to break for further direction
My Trades & Positions:
no positions
Nifty Elliot Wave AnalysisNifty Elliot Wave Analysis- Nifty appears to have completed the Downward correction. It is now expected to be continuing the Upward Movement.
Nifty Elliot wave Analysis- Expected to continue upward journeyNifty Elliot wave Analysis- Expected to continue upward journey
