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Niftytrend

As mentioned yesterday Profit Booking was seen post new High. As we had discussed in yesterday's message after making a new high of 25078 there was strong profit booking in many stocks specially Mid, Small and Micro caps. Market breadth turned negative with 784 advances Vs 1588 declines. This is a natural phenomenon and we cant surely say how long the profit booking can go on. Nifty actually did well to close above 25K at 25010. 25037 was mentioned as a strong resistnace. Nifty momentarily went above it but could not sustain the levels. Nifty made a low of 24956 and bounced back. We had again indicated that 24957 was a good support. (yesterday's Message). Same level is the key as Nifty can again try to confirm it's bottom for consolidation. In case 24957 is it's temporary bottom Nifty can rise further and again take an aim at closing above previous high of 25078. Supports for Nifty remain at 24957, 24887 and the zone between 24833 and 24806(Mother line). If we get a closing below 24806, 24773 or 24661 might come in play. Resistances for Nifty remain at 25037, 25078 and 25116. 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 INTRADAY ANALYSIS FOR 01/08/2024BUY ABOVE - 25000 SL - 24930 TARGETS - 25080,25160,25240 SELL BELOW - 24860 SL - 24930 TARGETS - 24780,24710,24660 NO TRADE ZONE - 24860 to 25000 Previous Day High - 25000 Previous Day Low - 24860 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
CHENNPETRO CHANNEL MOVEMENTNSE:CHENNPETRO pattern chart pattern observation in 2024. High Volume breakouts leading to all-time highs followed by retracement and support at the bottom of the channel. Overall channel movement is in the upward direction. Possible dip for the next ATH? Disclosure: I am not SEBI registered. The information provided here is for educational purposes only. Consult your financial advisor before making any decisions. Study is neither advice nor endorsement.
NSE:CHENNPETROLong
by adhikarijayesh
Nifty again tried to conquer 25K but unsuccessful Nifty again today tried to conquer 25K but fell short and reversed from 24971. Twice unable to conquer 25K has formed a temporary Double top type structure indicating weakness not massive but just a little bit. Weakness can creep in if the 24833 and 24773 are broken. Resistances on the upper side remain at 24887, 24957, 24999 and 25037. If 24773 is broken Nifty becomes meaker and then the supports remain at 24676 (Mother Line or 50 EMA Support). 24599 will be the mid channel support. Below 24599 the major supports will be at 24496, 24375 and 24234 (200 EMA support or Father line support.) Below 24234 Bears will totally try to dominate the proceeding.
NSE:NIFTY
by Happy_Candles_Investment
NIFTY INTRADAY LEVELS FOR 31 JULY 2024BUY - 24860 SL - 24780 TARGETS - 24930,25000,25080 SELL - 24780 SL - 24930 TARGETS - 24710,24660,24590 NO TRADE ZONE - 24780 to 24860 Previous Day High - 25000 Previous Day Low - 24780 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
4
24773 is a critical support to watch going forward. 24773 is a critical support to watch going forward. If that support is not broken tomorrow or later this week we can see upside once again with resistances at 24871, 24957, 24999 (today's high) and finally 25037. Supports at the lower side are at as mentioned 24773, 24661, 24606 (50 hour's EMA (Mother Line) merging with Mid channel support. Making this support as another major critical support after 24773. Below 24606 bears will get back to business and can further drag the Nifty to 24496 or even 24375. The rally can turn around and loose steam completely if we get a closing below the final support zone of 24218 and 24186(200 hour's EMA father line). Channel bottom is also round about that area.
NSE:NIFTY
by Happy_Candles_Investment
NIFTY INTRADAY LEVELS FOR 30/07/2024BUY ABOVE - 24860 SL - 24780 TARGETS - 24930,25000,25080 SELL BELOW - 24780 SL - 24930 TARGETS - 24930,25000,25080 NO TRADE ZONE - 24780 to 24860 Previous Day High - 25000 Previous Day Low - 24780 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
5
Nifty Analysis for Monday 29 july 2024Nifty created sharp upside momentum in last 2 days, it's ultimate goal is 25000. So I am providing highest probability intraday setup in Nifty50 My overview is bullish in nifty for Monday... it will good if Market opens gapdown or flat & creates a selling swing in first 30-45 mins then after creating a support price will bounce. If Market opens gapup or flat and moves upside in first 30-45 min. then there is a very less probability of continuation so if Market creates M pattern then selling swing will be expected and intraday low break is min. expected.
NSE:NIFTY
by jain_abhishek
1
Fibonacci sequence drawn on recent peak/bottom shows upsideThe Fibonacci sequence when drawn on recent peak and valley is showing a decent upside still if a major trend line resistance near 24967 is crossed and we get a closing above it. In such a scenario the peak of the current up trend seems to be near 25593. We have got a decent closing above an important fibonacci level of 24707. This becomes an important support now. Below 24707 the significant support levels are 24091, 23931, 23757 (50 days EMA, Mother line)(Read my book The Happy Candles Way available on Amazon to understand more about the Mother father and the small child concept/story.) If we get a closing below 23757, 23400 and 22814 are major support before we hit 200 day EMA or father line at 22088(Below which Bears will be in full power but we are far away from that zone as of now).
NSE:NIFTYLong
by Happy_Candles_Investment
NIFTY INTRADAY LEVELS FOR 29TH JULY 2024BUY ABOVE - 24860 SL - 24780 TARGETS - 24930,25000,25080 SELL BELOW - 24780 SL - 24930 TARGETS - 24930,25000,25080 NO TRADE ZONE - 24780 to 24860 Previous Day High - 24860 Previous Day Low - 24440 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
4
#nifty50 analysis for upcoming week 29th July-2nd Aug 2024Nifty roars to new heights, scaling a weekly peak of 24,830, a sizzling 300 points above the prior week's close. This bullish run, marked by a high of 24,861 and a low of 24,074, was anticipated by many. As predicted, the Union Budget unleashed a wave of volatility, with the Nifty diving 2% initially due to increased LTCG, STCG, and the removal of indexation benefits. Yet, the index swiftly recovered, mirroring the market's resilience. This volatility created golden opportunities for savvy investors. Stocks like IRFC and IRB plunged by 20-30% on budget day, only to rebound sharply, indicating a rush to capitalize on these dips. Nifty has been tightly confined between 25,000 and 23,950, a range it's respected diligently. For the upcoming week, I expect a trading band of 25,400 to 24,300. A breakout from either end promises exciting fireworks. While the daily chart shows some weakness, the weekly and monthly trends remain robust. A decisive close above 24,900 next week could ignite a rally towards 26,300. However, the looming RBI policy announcement on August 8th casts a shadow, potentially triggering another round of selling. Until then, the bullish undercurrent is likely to persist.
NSE:NIFTY
by ssudhirsharma11
NIFTY Pre - Budget Surge : Caution Ahead...!Hello Traders, I hope you are all thriving both in your trading endeavors and in life. Today, I bring you an exciting opportunity with a new analysis of NIFTY that's poised for a significant move. Our in-depth analysis reveals that... NSE:NIFTY As anticipated and previously mentioned, the past week ended on a negative note (pre-Budget). This week holds the potential for new highs. However, caution is advised, as this will likely be the final move in the sequence that began on October 23, 2023. It is prudent to brace for an impending correction. Here are the technical details: I. Resistance I: 24,854.80 ~ 24,910 (conj. Extended trend line from March 20, 2023) II. Resistance II: 25,120 (Extended trend line from June 1, 2022) III. Resistance III: 25,460 (Extended trend line from January 24,2024). ***Please note that these values are not actual but indicative levels of support and resistance. A Gann ideology is that , the move from October 26, 2023 is also facing a time resistance of 270 days (90*3) which is an important number not to consider it lightly. Furthermore, for the move from March 20, 2023 it is 490 days (360+90+45 or 135) which is also an additional reason factored in to be more cautious! Following this, the market is expected to take a breather, with profit booking potentially dragging the markets to deeper levels before any new uptrend is initiated (The correction in monthly scale can be anticipated). Further details will be discussed as the market evolves. Strategy: Being bullish at this juncture seems prudent, only till R II (for conservative / Defensive) & RIII (for Pro-active / Enterprising). Disclaimer: Before we conclude, I want to remind everyone that the insights shared here are based on my own analysis. It's crucial that you perform your own research and, if necessary, consult with a financial advisor before making any trading decisions. The financial markets are dynamic, and it's important to ensure that your strategies align with your personal financial goals and risk tolerance. =========================================================== Dear Traders, If you appreciate my work, please don’t forget to like and follow me. I would also love to hear your thoughts on this idea in the comments section and will be delighted to respond to each one. Thank you for reading the article. HAPPY TRADING
NSE:NIFTYLong
by WDG_Dinesh_Gengarajan