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NIFTY50 NOV 14 WEEKLY ANAYISISThe market is currently in a downtrend, showing a clear decline in price action with lower highs and lower lows. Traders might interpret this as a sign🕒 of weakening investor confidence, often influenced by economic factors or profit-taking after previous gains.🤔 📉 In a downtrend, it’s essential to exercise caution, especially with long positions, as the trend Managing risk is key, as sudden reversals can happen. Monitoring market sentiment and technical indicators can help identify a potential reversal or further bearish continuation.🚀 1.resistance level break down trend🔻 continue, nifty50 2.support level break and market sustenance, may be bullish trend start and down trend end 3.plz draw this level your trading panel #Tradingviews YOUR plat from 4. Follow ME More Ideas!👆
NSE:NIFTY
by SAME143
Nifty 50 weekly analysis November 14 exp The market is currently in a downtrend, showing a clear decline in price action with lower highs and lower lows. Traders might interpret this as a sign🕒 of weakening investor confidence, often influenced by economic factors or profit-taking after previous gains.🤔 📉 In a downtrend, it’s essential to exercise caution, especially with long positions, as the trend Managing risk is key, as sudden reversals can happen. Monitoring market sentiment and technical indicators can help identify a potential reversal or further bearish continuation.🚀 1.resistance level break down trend🔻 continue, nifty50 2.support level break and market sustenance, may be bullish trend start and down trend end 3.plz draw this level your trading panel #Tradingviews YOUR plat from 4. Follow ME More Ideas!👆
NSE:NIFTY
by SAME143
NIFTY50.....Bearflag underway?Hello Traders, The NIFTY50 probably made a significant low @23816 on the 4th of November! It touches my favourite price range from 23893 to 23140. The "advance" since the low @ 23816 shows an impulsive structure, and the weakness afterwards is traced back to a 0.618 Fibonacci of the advance. The stage can be set for another leg to the upside. Target area around 25257. A possible wave x has been counted here! If so, we will have to check the internal structure of the wave to see if it is a major pullback (bear flag) within a "weakening" phase of the market, or if it is a new impulsive advance. If the latter is the case, the timeframe should be at least 1-2 weeks. But! If this decline is not yet over, the open target around the 23140 area should be on your list! Keep that in mind. Always be patient! Have a nice week..... Red Nose Please ask or comment as appropriate. Trading on this analysis is at your own risk.
NSE:NIFTY
by ruebennase
Nifty Trade Plan for Next Week - 11 Nov to 15 Nov 2024 Nifty formed an Indecisive Doji type candle with a bearish Bias on the Weekly chart. The overall sentiment remains firmly Bearish for now. While there was a bounce from 23,850 levels, that bounce was unable to sustain. I had already taken short position on Swing basis on 7th Nov with a plan to hold it till 23,550. (Refer to my earlier posts). For those looking to trade on weekly basis, I have indicated the resistance and support levels. I'm anticipating this week to have a trending move after two weeks of moves on either side. My target would be 23,550 where price would find a decent stable support at the 200 DEMA . If that breaks, then we would be in for further downside to around 23,350 but that could possibly happen in the upcoming weeks. Basically the logic is that after the first major fall was triggered, the market has paused for two weeks and now the fall should continue further. I don't think Global positive news will play much factor here. Indian markets seem over valued and hence this kind of healthy correction is required. The view needs to be simple - Sell on Rise. Look for Bearish price action on any rallies. Long view is possible only once Nifty starts trading firmly above 24,525. Trade responsibly.
NSE:NIFTYShort
by Sky_Tracer
NIFTY S/R for 11/11/24Support 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(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. 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
Nifty Medium to Long Term Outlook. Nifty on a weekly chart seems to be in the consolidation mode. With important geopolitical events that happened around the globe and India Nifty is trying to find a firm footing from where it can launch ahead. The events like Ukraine and Russia conflict, Israel and Iran++ conflict, Indian election results, Haryana assembly elections, US elections proved very volatile for the market. Upcoming events like China stimulus package and Maharashtra Elections will also be key for the direction of Nifty while moving ahead. Best case Scenario for Nifty right now following the Parallel channel seems to be 27796 towards the mid and end of First quarter of 2025. (We would have to be a pure optimist to think it can reach close to 28K in the next 5/6 months but you never say never). Median Scenario can keep Nifty range bound and we might find it exactly in the zone that it is right now that is between 24K and 25K. Worst case scenario for Nifty seems to be between 20 and 21K as of now.(This is a less likely scenario but you never say never). Major Support Levels for Nifty are at: 23816, 23211(Major Support 50 Weeks EMA-Mother Line), 22711, 21813, 21343 and 20858 (Channel Bottom Support). Major Resistance levels for Nifty are : 24589, 25241, 25796, 26277, 27120 and 27796 (Channel Top Resistance). To learn more about Parallel Channels and Mother, Father and Small Child theory read my book. The Happy Candles Way to Wealth Creation Available on Amazon in paper back and Kindle version. The book is now available on Google Play books in E-version too. Disclaimer: The views are personal and request you not to take positions based on the above data. The chart and the levels given in the message are purely for the purpose of education.
NSE:NIFTY
by Happy_Candles_Investment
Riding the Correction: Unlocking NIFTY’s Next Chapter!Dear Traders, I hope this message finds you well in your trading endeavors and personal pursuits. I am excited to share a compelling opportunity with you through a new NIFTY analysis that sheds light on the continuation of the market shift. The recent upward movement & the following correction in the market have unfolded as anticipated. Over the past two months, my analysis has consistently pointed to an expected correction due to market overvaluation and distinct completion patterns. Technical Analysis Overview: There are three potential scenarios for the ongoing trend, ranked based on their likelihood of occurring. Scenario I: The move initiated from 20 MAR’23 – 27 SEPT’24 (16,828.35 – 26277.35) has spanned over 80 weeks (18M) and indicates a significant completion of wave patterns, suggesting an imminent correction. See the visual representation of the trend lines and corresponding fib retracement levels here: The correlation between static supports can be observed around 23,893.70 and 21,181.45. This correction is expected to be visible within a 3-month timeframe. Potential support levels include S – I: 24,893 ~ 24,753 ~ 24,430 levels, S – II: 24,050 ~24,000 levels and S – III: 23,683 levels. *These values are not actual but just levels The correction might extend to deeper levels (22,664 & 21,550) as the market progresses. Time resistances are anticipated on 09th OCT, 17th OCT, and 30th OCT for all probable scenarios. --------------- Scenario II: The move from 26 OCT’23 – 27 SEPT’24 (18,837.85 – 26,277.35) has completed mid-way and is expected to continue after this correction, potentially reaching unprecedented levels. Find the visual representation of this move with trend lines & fib retracements here: The range of this move is limited to the monthly timeframe, indicating the completion of 1 year from the start of this sub-trend. Potential support levels include, S – I: 24,525 ~ 24,378 levels, S – II: 23,900 ~ 23,893.70 levels and S – III: 23,450 levels. --------------- Scenario III: The move from 04 JUN’24 – 27 SEPT’24 (21,121.45 – 26,277.35) has almost completed its half journey and is facing a correction before extending its uptrend by a few more waves. While this scenario has the lowest probability compared to the others, it is essential to consider its potential impact on the current trend. The pictorial representation can be seen here: Further details are not added as the market actions till now does not validate this probability. --------------- Other Influential Factors: Geo-political tensions and concerns regarding escalation have historically preceded corrections prior to the US presidential elections, indicating a prevailing bearish sentiment. Tensions in the Middle East have also contributed to the market plunge, albeit not solely responsible for it. Additionally, the FED's likely rate cuts have been influenced by the upcoming US elections, and SEBI's regulatory actions aim to curb over-optimism and maintain market neutrality. Important Dates to Remember: Mark your calendars for OCT 9th (RBI interest rate decision @ 10AM) and OCT 10th (US inflation reports). --------------- Final Verdict: While the scenarios are meticulously laid out, the selection of the valid scenario remains a work in progress. We are eagerly awaiting further cues from the market and will provide updates as they unfold. However, one thing remains certain – the current trend has reversed (at least for the mentioned time frames). Therefore, adopting a bearish stance could prove to be profitable. --------------- Strategy: Considering the current market conditions, adopting a bearish stance seems prudent, especially levels around 24,450 ~ 24,000 are to be tested. Keep a close watch on the market and stay informed for potential opportunities. 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. 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 boosting the idea and following me (updates will be made via this post, new post & through minds) . 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
A Head & Shoulder Pattern on Nifty - Refer to my previous postIn Continuation to my last post on Nifty yesterday, i.e. 7th Nov 2024, we can clearly see the weakness in Nifty that is prevalent. A Head & Shoulders pattern is developing on the 4H chart. Clearly, the buyers aren't able to sustain momentum and this typically is a sign of overvaluation. While there may be sharp rallies to the upside, these will most likely get sold into. I have marked the levels on the chart. My Targets are mentioned in the earlier post. Short Target-1 on Swing basis - 23,550. Further this might also break and try for a retest and we could finally come down to 23,375 - 23,400 levels. Stay tuned and trade responsibly!
NSE:NIFTYShort
by Sky_Tracer
NIFTY S/R for 8/11/24Support 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(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. 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
NIFTY : Trading Levels and Plan for 08-Nov-2024Previous Day’s Chart Overview: On 07-Nov-2024, Nifty displayed a bearish movement with opening tick , with a clear consolidation phase after the breaking mentioned support zone. The chart highlights significant levels for both support and resistance that are likely to influence price movements on 08-Nov. The Yellow trend represents the sideways movement, the Green trend indicates a bullish scenario, and the Red trend shows potential bearish paths. --- Trading Plan for 08-Nov-2024 Gap Up Opening (100+ points): If Nifty opens above 24,358.00 (Opening Resistance) and holds, look for buying opportunities on pullbacks near this level. A sustained move above could target 24,460.00 , the next intraday resistance. Should Nifty face resistance near 24,460.00 and fail to break above, consider short opportunities for a quick pullback to 24,358.00. Watch for a potential breakout above 24,460.00 which could trigger a move towards the 24,643.00 – 24,714.00 zone, where sideways resistance may impact the uptrend. Book profits or trail stops in this range. Flat Opening (within ±50 points): If Nifty opens near 24,190.60 and finds support above 24,174.95 (Opening Support) , consider long positions targeting 24,358.00 (Opening Resistance) . A failure to hold 24,174.95 could signal weakness; watch for a potential test of 24,106.25 (Best Buying Level) , a strong support level for intraday buyers. If Nifty consolidates between 24,174.95 and 24,106.25, remain cautious with small trades until a clear breakout or breakdown occurs. Gap Down Opening (100+ points): If Nifty opens near or below 24,106.25 (Best Buying Level) , observe if it finds support. A strong buying interest here could provide an opportunity to target the 24,174.95 - 24,190.60 zone. A breakdown below 24,106.25 may lead to a bearish trend toward 23,970.00 , the next critical support level. Traders can consider short positions here with strict stop-losses. If Nifty tests and breaks below 23,970.00 , the next “Do or Die” level for buyers is at 23,700.00 , where a trend reversal may occur if supported by volume. Risk Management Tips for Options Trading: Always use stop-loss orders, especially when trading near resistance and support levels. Limit your position size to a maximum of 2-3% of your total capital to manage risk efficiently. For option trades, consider hedging strategies such as spreads or using out-of-the-money options to minimize premium risks in volatile markets. Summary & Conclusion: Tomorrow’s market could present significant trading opportunities given the current setup, especially around key support and resistance zones. Be cautious near the “Do or Die” level for buyers at 23,700.00, as it may lead to a trend reversal. Focus on risk management to protect capital in volatile conditions. --- Disclaimer: I am not a SEBI-registered analyst. This analysis is for educational purposes only and should not be considered as investment advice. Please consult a financial advisor before making trading decisions.
NSE:NIFTYShort
by LiveTradingBox
Nifty Support and Resistance Levels For 8th Nov 2024I’ve created a chart highlighting the key support and resistance levels for #Nifty, designed to help traders make informed decisions. These levels provide critical insights for understanding potential price movements, enabling traders to identify ideal entry and exit points. Use these levels to gain a clearer perspective on Sensex trends and optimize your trades with greater confidence. Remember, these levels serve as guidance, so always combine them with your own analysis and risk management.
NSE:NIFTYLong
by Prabhu2020
Nifty unable to break Hourly Channel top corrects. Nifty had reached channel top of the downward channel on hourly chart and was clearly not able to defeat it as evident in the chart and corrected wiping all the gains from yesterday's trump rally. Can it make one more effort to claim the channel top and defeat it is the question. Supports for Nifty remain at 24179, 24073 and 23816. Below 23816 the bears will feel empowered and can drag Nifty down to 23500 or 23200 levels. Resistances on the upper side remain at 24262 (Mother line resistance of 50 hours EMA), 24504, 24559 and finally father line of 200 Hour EMA at 24650. This will remain a volatile week with major shift in global policies and realignments, FED Rate decision and other Geopolitical events. Keep an eye on situation in the Middle East and Ukraine, Russia front. Positive news will have again empower bears and give another rally like Trump rally seen yesterday. Shadow of the candles is Neutral to negative again. Bond yield, Gold, Silver, Dollar index, Crude can remain volatile while NASDAQ and Dow are in the Optimistic curve. November month will in general will remain volatile and next one week will decide the fate of Indian markets. With FIIs still on selling side and DII on buying side looks like things will remain topsy turvy for Indian markets. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only and views are personal. 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
WHYKOFF SCHEMATICSMarket is accumulating get ready for the uptrend. The Wyckoff market cycle phases are accumulation, markup, distribution, and markdown. Essentially, the phases represent the behavior of traders and can reveal the direction of a stock’s future price movement. Generally speaking, the accumulation phase forms as institutional investors increase their buying and drive demand. As more interest develops, the trading range displays higher lows as prices position themselves to move higher. With buyers gaining power, prices push through the upper level of the trading range. At this markup phase, a chart will show a consistent upward trend.
NSE:NIFTYLong
by bhashyandchenoth
1