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NIFTY trade ideas

Nifty 50 Analysis for 08-08-2024: Support & Resistance LevelsThe Nifty 50 index had a positive session today, opening at 24,287.80 points and closing at 24,297.50 points, marking a gain of 1.27%. The index reached an intraday high of 24,336.25 and a low of 24,186.20. This performance was driven by broad-based buying across various sectors, with significant contributions from ONGC, Coal India, Adani Enterprises, and Adani Ports, which saw gains of up to 7.45%. The broader market indices exhibited impressive performance today, with the Nifty Next 50 leading the charge with a 3.01% increase. Following closely were the Nifty SmallCap 100 and Nifty MidCap 100, both showing significant upward movement. Support Levels The Critical support zone to watch is 24,000 - 23,900 if breached 23,800 will act as strong support. Resistance Levels 24,350 will act as initial hurdle for the Nifty if crossed next hurdle is at 24,500. Open Interest (OI) Analysis Call Options: Significant call writing observed at the 24,500 and 25,000 levels, indicating strong resistance as traders expect the index to face difficulty crossing these levels. Put Options: Major put writing at the 24,000 and 23,800 levels suggests these are strong support zones, with traders expecting the index to hold above these levels during any downward move. Technical Indicators for Nifty 50: Max Pain: 24,300 PCR (Put-Call Ratio): 0.70 Bearish IV (Implied Volatility): 17.40 as of the closing on 07-08-2024. RSI (14): Neutral at 50.398, indicating no extreme overbought or oversold conditions. MACD: Shows a sell signal, suggesting possible downside pressure. Market Sentiment and Expiry Impact The market is expected to be volatile due to the weekly expiry. Traders should be cautious and watch for reactions around the key support and resistance levels mentioned. Profit-taking could occur at higher levels, particularly if the index fails to break through significant resistance zones. Stay tuned for more updates on Nifty prediction to navigate the volatile market conditions effectively. Disclosure: The publisher of this idea is not a SEBI registered analyst. The information shared here is solely for educational purposes and should not be interpreted as financial advice. Always consult with a qualified financial advisor before making any investment decisions. The publisher does not endorse social media shares on any platform.
NSE:NIFTY
by shvishal
NIFTY INTRADAY LEVELS FOR 08/08/2024BUY ABOVE - 24360 SL - 24270 TARGETS - 24440,24530,24590 SELL BELOW - 24200 SL - 24270 TARGETS - 24130,24010,23900 NO TRADE ZONE - 24200 to 24360 Previous Day High - 24360 Previous Day Low - 24200 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
Good bounce back by Nifty after Mother Line confirms support. Good bounce back by Nifty after Mother Line confirms support. But we are still not out of the woods as there is a resistance zone near high of the today that is 24337 and 24382. (This is the resistance created by the gap down opening on 5th August. The starting and ending point of Such massive gaps always acts as a resistance zone while going up. The best way to cross this resistance will be a gap up opening. 24483 is another point which was the starting of this gap which will also act as a resistance on the way up. Once that is crossed we can look forward to reaching the next resistance levels of 24584 and 24714. Supports on the lower side for Nifty are at 24183, 24075 and 23978 (Mother Line 50 day's EMA). Below this level only two supports remaining will be 23912 and 23673. We can again be in this unlikely zone as of now only if there is some major bad news overnight otherwise shadow of the candles is looking positive. 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. 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. 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.
NSE:NIFTY
by Happy_Candles_Investment
NIFTY S/R for 8/8/24Support 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. Disclaimer: I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. It's important to remember that while these indicators can be useful, they are not foolproof. Always consider the broader market context and consult with a qualified financial advisor before making any investment decisions.
NSE:NIFTY
by zenthosh
NIFTY INTRADAY LEVELS FOR 07/08/2024BUY ABOVE - 24130 SL - 24010 TARGETS - 247220,24360,24440 SELL BELOW - 24010 SL - 24130 TARGETS - 23900,23800,23740 NO TRADE ZONE - 24010 to 24130 Previous Day High - 24360 Previous Day Low - 23900 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 : Trading levels and Plan for 07-Aug-2024On the previous trading day, the Nifty 50 Index exhibited a mix of bullish and bearish movements, ultimately closing with negative side after giving up all opening gains. The chart highlights key levels of resistance and support, indicating potential zones for trend reversals and retracements. The Buyer’s Zone for Trend Reversal and the Resistance for Retracement are crucial levels to watch. **Opening Scenarios for 07-Aug-2024:** 1. Gap Up Opening (100+ points): If the market opens above 24,136, the immediate resistance level to watch is 24,431-24,496. Look for signs of reversal at this resistance zone. If Nifty sustains above 24,496, expect bullish momentum to continue. Consider initiating long positions with a target towards higher resistance levels. However, if the index fails to sustain above 24,431, be cautious of a potential retracement. A dip towards 24,136 is possible, which could act as support. 2. Flat Opening: If the market opens around the previous close of 24,033, monitor the immediate support at 23,950. A strong hold above 23,950 may lead to a bullish trend targeting the opening resistance of 24,125-24,136. On the flip side, if Nifty breaks below 23,950, a further decline towards the Buyer’s Zone at 23,801-23,662 can be expected. 3. Gap Down Opening (100+ points): If the market opens below 23,801, it will likely enter the Buyer’s Zone for Trend Reversal. Look for signs of accumulation and potential reversal patterns. If a reversal occurs in the Buyer’s Zone, it may lead to a bounce back towards the 23,950 level. However, if selling pressure persists and Nifty breaks below 23,662, expect a continuation of the bearish trend, targeting lower levels. **Risk Management Tips for Options Trading:** Always define your risk before entering a trade. Use stop-loss orders to minimize potential losses. Avoid holding onto losing positions in hopes of a reversal. Stick to your predefined stop-loss levels. Consider using options strategies like spreads to limit risk and enhance potential returns. Diversify your options trades to spread risk across different strikes and expirations. **Summary and Conclusion:** For 07-Aug-2024, Nifty's opening scenario will significantly influence the trading strategy. Key levels to watch include 24,136 on the upside and 23,801 on the downside. Utilize risk management strategies to safeguard against potential losses, especially in volatile market conditions. **Disclaimer:** I am not a SEBI registered analyst. The information provided here is for educational purposes only and should not be construed as financial advice. Always do your own research or consult with a professional before making any trading decisions. **Happy Trading!**
NSE:NIFTYLong
by LiveTradingBox
NIFTY 50 KEY LEVELS 07/08/2024Explanation: This is a very useful trading system. This means that you should not take a trade blindly, but rather that there is another confirmation to take the trade you can use this for perfect entry and perfect exit This trading opportunity is based on volume, previous price, and price range , are included Entry/Exit point's: - It has very easy entry and exit points - In this pair of lines with two colors are given (RED AND GREEN) - In this the GREEN line is used to take long entry and the RED line is used to take short entry (But it is all based on a more conformation from your trading plan) Stop Loss/Take Profit: Stop Loss - According to this, if you take a long trade, its stop loss will be the RED line just below ( A trade can exit either when the price crosses the RED line or the 5 minute candlestick crosses the RED line. (This can be done according to your preference) ) - A short entry should use the opposite rules to a long entry Take Profit -When you take a long entry according to the profit to be booked is on the next RED line above. ( Or if there are other reasons, it can be a safe exit ) - Opposite rules for booking profit on long entry are to book profit on short trade. ( The GREEN line above is the stop loss of short entry ) Timeframe: According to this, the time frame you should use while taking trades is 5 minutes time frames . (5 minute time frame works well in this) Risk Disclaimer: Leave a comment if you like my entry setup. This share is for educational learning purposes only, and I am not responsible for your profit or loss. Note: For more details, check the chart.
NSE:NIFTY
by nandupk
NIFTY S/R for 7/8/24Support 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. Disclaimer: I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. It's important to remember that while these indicators can be useful, they are not foolproof. Always consider the broader market context and consult with a qualified financial advisor before making any investment decisions.
NSE:NIFTY
by zenthosh
TRENDSTAR INDICATOR (Best on 5Min chart)Hi Everyone! I have created a new TradingView indicator for DAY TRADERS! The most important indication of trend in day trading is price action, all other indicators are lagging indicators! (BHAAV BHAGWAN CHE) However, price action and candlestick patterns can become misleading if seen on a blank chart. A day trader needs to identify levels where price action actually matters! INTRODUCING TRENDSTAR INDICATOR - A powerful tool for day traders to enhance their trading strategies and make more informed decisions at the right time during the day: - Works on Index and Large Caps. (only NSE) - Auto plots key levels daily at open. - Refined Buy/Sell signals. - The ZONE is used to identify trend and plots dynamic S/R area. (When the zone is blue - trend is bullish and bearish when its orange) ZONE can also act as a S/R area and can be used for short term (1-2 days) trades. - Works best in 5M time frame for that spot on DAY TRADE everyone is looking for BUT you have to be patient for the levels to be breached. - 1M/3M scalping works as well. - Can set alerts for breach of any of the levels. UNDERSTANDING THE LEVELS: Blue dotted line - Pivot for the day Green line - S/R level on the higher side (breakout can trigger fresh buys) Red line - S/R level on the lower side (breakdown can trigger fresh shorts) Purple line - the joker level of the day (on certain days it acts as an iron clad S/R level) Black dotted lines - Extreme S/R zones for the day. I am currently sharing this indicator on invite-only basis. DM me on twitter @techtrademusic for access. Best wishes, FIVSTA.
NSE:NIFTYEducation
by djsahiljoshi
Mother line again came to rescue Nifty but can it hold?Mother line or 50 days EMA again comes to rescue of Nifty today. There was a huge selling pressure when the Nifty reached day's high that is 24382. Market has closed at 23992 and the 50 days EMA is at 23965. As of now 50 days EMA is respected but the mood seems to be sell on rise so the support is becoming weaker. If 50 days EMA or Mother line is broken on closing during the reminder of the week. There can be increased pressure on Bulls as Bears will try to explore further supports. Supports for Nifty as of now seem to be at 23965 (Important Mother line support 50 day's EMA), 23673 and 23362. The zone between 22788 and 22259 is very important as of now. 22259 is 200 day's EMA or father line support, 22641 is the channel bottom support and 22788 is an important support of bottom of the big candle formed on 7th June. Resistance for Nifty remain at zone between 22214 and today's high of 22384. If you want to know more about Mother father and small child story and how 50 and 200 day's EMA play the role of mother and father you need to read the book The Happy Candles Way to wealth creation written by me and available on Amazon in Kindle and Paperback version. This will be a big resistance to cross as above it is gap formed by gap down opening of 5th August. If this gap is crossed the next resistance will be at 24714. Shadow of the candles is red still. RSI 40 and Mother line saved the day today let us see if these levels can hold. If these levels are held upside is possible. 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. 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. 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.
NSE:NIFTY
by Happy_Candles_Investment
NIFTY50.....BÄÄMM!Hello Traders, the "Buying climax" I called out on my last analyze played out on Monday and it touches the trendline as drawn at the chart and forecasted! International markets have crashed in a possibly "one-day-crash", but it is to early to judge this argument. What to expect for the rest of the week? The daily price chart shows two "gap-down", what I interpretate as weakness! Yesterday's low @23893.70 could be all of the sell-off or a wave a/1 is underway!? Today's candle could end as an "Inside-candle". Giving us the information of a "consolidating day, without any clear direction of trend! From an Elliott wave perspective to speak, a possible wave a/1 as drawn at the chart could have end yesterday. Today's "consolidating day" could be a wave 4/b of a/1, with lower price to come for the rest of the week. Today's "pull-back" achieved the 0,382 Fibonacci of the sell-off yesterday @ 24382.60! So if a wave 1 was not done yesterday, a wave 5 of a/1 should follow this week to lower price (<23893.70). Keep in mind. A wave "a" could morph within 3 waves as a flat, but also in a "five-down", interpret ate as a Zigzag! A possible wave "c" would lead to or around 23230 area at this week, probably early next week! On the other hand! A push above today's high @24382.60 could be all of the sell-off, or it was just a wave "a" @ 24383, the pull-back thereafter to 23985 (2:15 candle, Kalkata time) a wave "b" and the move to come a wave "c" of "b" to fresh high's above 23382.60! A lot of "if and when" but it is necessarily to know (in my view)! Act with patient and carefully! (At the time of the analysis, India was still trading) Have a great week..... Ruebennase Please ask or comment as needed. Trading based on this analysis is at your own risk.
NSE:NIFTY
by ruebennase
NIFTY 50 - How far the Market can fall? Market participants are persistently speculating about the conclusion of the current bull trend; however, the upward trajectory remains unbroken despite two significant events—the Election and the Budget. Following international news regarding a hawkish stance from Japan, it appears that the trend may be shifting in the near term. Let us analyze the recent decline from both fundamental price action and Elliott wave theory. 1. After an extended period, we have observed the emergence of a three black crows pattern at the peak. This is a strongly bearish indicator that typically precedes a decline of 10-12% following a minor pullback. Based on this pattern, we could anticipate the Nifty index dropping to approximately 22,000 levels. 2. According to Elliott wave analysis, minor wave 3 of major wave 5 has recently concluded. We are currently in the 4th wave, which may retrace to the 23%-38% Fibonacci levels, aligning with the decline targets indicated by the three black crows pattern. This could manifest in an ABC pattern, where wave b retraces 23-38% of wave A, which is currently unfolding. In conclusion, the Nifty index is in a sell-on-rise phase until it reaches the 22,000 level, at which point we may witness another rally towards 26,000 as part of the final 5th wave. Disclaimer: Please note that the information presented in the analysis is intended only for educational purpose. It is highly recommended to see advice from financial advisor before making any investment decisions. I cannot be held accountable for any financial loss that may arise
NSE:NIFTY
by harshit22
Nifty Index View [Expiry: 08-08-2024]After a notable expiry week characterized by significant activity, the current Nifty expiry week commenced under less favorable conditions. This analysis explores the Nifty Index from both the expiry candle and options technical perspective to provide a comprehensive view of the market dynamics. Expiry Candle Analysis: This week's expiry candle started at the pivot point but closed below it, suggesting an initial bearish momentum. If the downtrend continue, the next support could be expected around 24,575, which aligns with S1 of the expiry pivot. Further decline might test the S2 at 24,415 - a pivotal level as it also corresponds to last week's expiry low. In terms of resistance, Pivot, TC (Top Central), and BC (Bottom Central) could serve as key barriers in the short term. The analysis leverages Fibonacci pivot calculations based on the expiry OHLC (Open, High, Low, Close) data. Historically, a relatively quiet week often follows a highly active expiry week. Given this pattern, the current week might lean towards a neutral or slightly negative close, echoing the subdued sentiment post-high volatility periods. Options Analysis: Instead of focusing on volume or open interest, this review emphasizes a technical assessment of the options chain. Technical ratings added to the monthly expiry options reveal that: Call Options: Moving Averages are indicating a strong sell signal, with Oscillators showing a mix of neutral and sell signals, suggesting bearish expectations. Put Options: Moving Averages are mostly neutral while Oscillators are leaning towards buy signals, indicating some expectation of upward price movements yet underscored by caution. Near Term Options Outlook(Current Expiry): Call Side: Signals are overwhelmingly negative, pointing towards bearish market expectations. Put Side: Presents mixed signals, which could imply uncertainty or a potential for slight recovery, but the overall sentiment remains cautiously pessimistic. Conclusion: Both the expiry candle and technical indicators from the options chain suggest a market leaning towards a neutral to negative closure for the current expiry period. Traders should consider integrating additional data and analyses to corroborate these findings and refine their market strategies.
NSE:NIFTY
by tanayroy
5
Mother Line comes to rescue for the Nifty today but can it hold?Mother Line or the 50 days EMA comes to rescue for the Nifty today but can it hold? It looks little difficult due to the global Bear onslaught. In such situations we know from the Father, Mother and the small Child story that mostly Father line of 200 days EMA can provide proper support. However before we reach there and not necessarily we reach there as there are some important supports for Nifty. The other supports for Nifty from where it can potentially make a turnaround seem to be at: 23963 (Mother Line provides support again / Support confirmation), 23673 is the mid channel support, 22788 to 22641 is also a good support zone. Below 22641 we have Father line support at 22242. Final support for Nifty is 21879. Resistances on the upper side are now at 24214, 24342 and 24714. Shadow of the candles are still dark red. To know more about the father, mother and small child story read my book The Happy Candles Way to wealth creation available on Amazon in Paperback and E-book version. 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. 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. 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.
NSE:NIFTY
by Happy_Candles_Investment
NIFTY 50 KEY LEVELS 06/08/2024Explanation: This is a very useful trading system. This means that you should not take a trade blindly, but rather that there is another confirmation to take the trade you can use this for perfect entry and perfect exit This trading opportunity is based on volume, previous price, and price range , are included Entry/Exit point's: - It has very easy entry and exit points - In this pair of lines with two colors are given (RED AND GREEN) - In this the GREEN line is used to take long entry and the RED line is used to take short entry (But it is all based on a more conformation from your trading plan) Stop Loss/Take Profit: Stop Loss - According to this, if you take a long trade, its stop loss will be the RED line just below ( A trade can exit either when the price crosses the RED line or the 5 minute candlestick crosses the RED line. (This can be done according to your preference) ) - A short entry should use the opposite rules to a long entry Take Profit -When you take a long entry according to the profit to be booked is on the next RED line above. ( Or if there are other reasons, it can be a safe exit ) - Opposite rules for booking profit on long entry are to book profit on short trade. ( The GREEN line above is the stop loss of short entry ) Timeframe: According to this, the time frame you should use while taking trades is 5 minutes time frames . (5 minute time frame works well in this) Risk Disclaimer: Leave a comment if you like my entry setup. This share is for educational learning purposes only, and I am not responsible for your profit or loss. Note: For more details, check the chart.
NSE:NIFTY
by nandupk
NIFTY - Trading levels and Plan for 06-Aug-2024Following global cues, NIFTY experienced a sharp decline, closing at 24,051.80. Prices found support exactly as predicted, prompting an initial sharp move from 23,951 to 24,112 during the trading session. The chart highlighted critical support and resistance levels that were instrumental for intraday trading. Our precise levels provided excellent opportunities for entry and exit. Let's dive into the detailed trading plan for 06-Aug-2024, considering different opening scenarios: Gap Up, Flat, and Gap Down openings. Gap Up Opening (200+ Points): If the market opens above the Pending Sellers at retracement level (24,461), observe the price action near the Last Try for Sellers zone at 24,820. Look for bearish signals at 24,820. If confirmed, initiate short positions targeting 24,461 and 24,243. If the price sustains above 24,820, wait for a pullback before entering long positions targeting higher levels. Flat Opening: If the market opens near the current level of 24,051.80, assess the early trend to identify potential trading opportunities. Monitor the First Opening Resistance at 24,243 and the support level at 23,951. A breakout and close above/below these levels will provide directional cues. In case of range-bound movement within the Important Support Zone for Swing Reversal (23,801-23,951), avoid trading until a clear breakout occurs. Gap Down Opening (200+ Points): If the market opens below the Important Support Zone for Swing Reversal at 23,801, look for buying opportunities near 23,214 (Key Support Level). Confirm bullish price action before entering long positions, aiming for targets at 23,801 and 23,951. If the market shows weakness and fails to sustain above 23,801, consider shorting with targets at 23,214 and lower levels. Risk Management Tips for Options Trading: Use stop losses diligently to protect your capital. Avoid overleveraging; trade with a position size that aligns with your risk tolerance. Monitor implied volatility and choose options with adequate liquidity. Implement a trailing stop strategy to lock in profits while reducing downside risk. Diversify your trades to mitigate risk exposure. Summary and Conclusion: The trading plan for 06-Aug-2024 focuses on key levels identified from the previous session's price action. Depending on the market opening scenario, traders can adjust their strategies to capture potential movements. Remember to practice proper risk management and stay disciplined to navigate the intraday volatility effectively. Disclaimer: I am not a SEBI registered analyst. The information provided here is for educational purposes only and should not be considered as financial advice. Always conduct your own research and consult with a financial advisor before making any trading decisions.
NSE:NIFTY
by LiveTradingBox
NIFTY INTRADAY ANALYSIS FOR 06 AUG 2024BUY ABOVE - 24130 SL - 23990 TARGETS - 247220,24360,24440 SELL BELOW - 23990 SL - 24130 TARGETS - 23900,23800,23740 NO TRADE ZONE - 23990 to 24130 Previous Day High - 24360 Previous Day Low - 23900 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 6/8/24Support and Resistance Levels: In technical analysis, support and resistance levels are significant price levels where buying or selling interest tends to be strong. They are identified based on previous price levels where the price has shown a tendency to reverse or find support. Support levels are represented by the green line and green shade, indicating areas where buying interest may emerge to prevent further price decline. Resistance levels are represented by the red line and red shade, indicating areas where selling pressure may arise to prevent further price increases. Traders often consider these levels as potential buying or selling opportunities. Breakouts: Breakouts occur when the price convincingly moves above a resistance level (red shade) or below a support level (green shade). A bullish breakout above resistance suggests the potential for further price increases, while a bearish breakout below support suggests the potential for further price declines. Traders pay attention to these breakout signals as they may indicate the start of a new trend or significant price movement. 20 EMA: The yellow line denotes 20 EMA, to interpret the 20 EMA, you need to compare it with the prevailing stock price. If the stock price is below the 20 EMA, it signals a possible downtrend. But if the stock price is above the 20 EMA, it signals a possible uptrend. Disclosure: I am not SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. It is important to consult with a qualified financial advisor before making any investment decisions. Tweets neither advice nor endorsement.
NSE:NIFTY
by zenthosh