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NIFTY trade ideas

Very weak candle more pain may be in store for Nifty. Today we saw a confirmation of a pattern similar to head and shoulders pattern. The pattern is not exactly the classic head and shoulder but it is similar which can yield similar break down results meaning more pain might be in store if next 2 support levels are broken. The low of August 5 that is 24055 will be vital zone for Nifty to take support and make a comeback. There are 2 weak supports before we reach that level. These supports are near support previous to that at 24407 and 24113. If by chance 24055 is broken the next support is there near 23811 followed by 200 days EMA (Father line) at 23428. Below this level there is pure bear territory as this chart is drawn on daily candle sticks. On the upper side the resistances that Nifty will now face are at 24711 (Strong resistance along with a trend line resistance). If this resistance will be crossed the next resistance is at 24879. By chance we get a closing above this level Mid channel resistance and Mother line resistance of 50 days EMA awaits us near 24995 and 25231 respectively. The Macros of Israel Vs Iran++, US Elections and China stimulus are the major factors affecting FII outflow. Indian Growth story remains intact sectoral churning near the bottom is a real possibility. Overbought sectors of Defense and PSU in addition to some Mid and Small caps are taking most of the beating. At some point their PE will become attractive and at some point their dividend yield will also attract investors. whether that point has arrived or will arrive soon is yet to be known. There are no signals of bottom formation as of now and Shadow of the candle remains negative.
NSE:NIFTY
by Happy_Candles_Investment
1
NIFTY : Trading Levels and Plan for 23-Oct-2024Nifty Trading Plan for 23rd October 2024 In the previous session, Nifty traded Sharply Downtrend, testing resistance at metioned levels yesterday . The market showed volatility but remained largely Bearish trend. This setup hints at a possible breakout from the current consolidation zone, with key levels to watch for both bulls and bears as the market opens on 23rd October. Gap-Up Opening (100+ Points): If Nifty opens above the 24,630 resistance, wait for confirmation of a breakout toward the next key resistance zone at 24,714. Once the price holds above 24,714, a long position can be considered with an upside target of 24,936, where strong selling pressure might emerge. Set a stop-loss below 24,630 for long trades to manage risk effectively, especially if Nifty reverses after hitting 24,714. If the breakout is false, expect a retracement back to 24,630 or even lower toward 24,555. Flat Opening: If the market opens flat near the current levels of 24,481, the immediate range to watch is 24,555 to 24,358. A breakout above 24,555 could trigger a move toward the 24,630 resistance level, where price action should be monitored for continuation or reversal. On the downside, a breakdown below 24,358 may lead to retesting the 24,298 support level, with potential to go even lower toward 24,164 if selling pressure intensifies. Place stop-losses below 24,358 for long trades, and above 24,555 for shorts to protect against sudden reversals. Gap-Down Opening (100+ Points): If Nifty opens with a gap-down below 24,358, expect increased selling pressure, with the immediate target being the 24,298 support level. If 24,298 holds as support, a reversal trade could be initiated, but it is crucial to wait for a confirmed bounce before entering long positions. If the gap-down results in a break below 24,298, watch for further declines toward the 24,164 support, where buyers may try to defend. Maintain a stop-loss below 24,298 for longs and above 24,358 for short trades to manage risk in case of sharp movements. Risk Management Tips for Options Trading: For a gap-up scenario, consider using call spreads to limit risk as Nifty approaches key resistance zones like 24,714 and 24,936. In case of a gap-down, consider put spreads or long puts to capitalize on increased downside volatility. Avoid holding naked positions, especially near high-volatility areas. Opt for limited-risk strategies like iron condors or vertical spreads to minimize losses. Be prepared to exit quickly if Nifty approaches key support or resistance zones, as sudden reversals can cause options premiums to decay rapidly. Summary & Conclusion: For 23rd October 2024, the key levels to watch are the resistance at 24,630 and support at 24,358. A gap-up could see a move toward 24,714 and 24,936, while a gap-down may bring Nifty closer to 24,298 and 24,164. Volatility is expected around these levels, and it is crucial to maintain strict stop-losses to minimize risk. In options trading, consider spread strategies to manage volatility and protect against sudden reversals. Disclaimer: I am not a SEBI registered analyst. This trading plan is based on my personal analysis using technical parameters. Traders are advised to conduct their own research or consult with a financial advisor before making any trading decisions.
NSE:NIFTY
by LiveTradingBox
NIFTY 50 KEY LEVELS FOR 23/10/2024//@description // All credit goes to Tony for the concept of this indicator. His Trading View link: www.tradingview.com // Note: The calculation method in this indicator differs from Tony's, but the concept is derived from his work. **Explanation:** This trading system helps you avoid blind trades by providing confirmation for better entries and exits. It considers volume, past prices, price range and indiavix. **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 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.
NSE:NIFTY
by nandupk
NIFTY S/R for 23/10/24Support 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 Intraday 23 Oct 2024 Levels for SellingToday Nifty made new low and following price action on every timeframe. For good risk reward if price starts moving upwards and taking reversal near 24600, then we can go for sell trade. For Followup trade, any 5 min candle close below 24445 then also we can go for sell trade. Note : Its just an analysis, wait for the price to confirm. Disclaimer : Always follow risk to reward, this is the only key to success in market, no matter how much good a trade is looking we never know the future.
NSE:NIFTYShort
by smrgrover2
NIFTY : Trading Plan and Levels for 22-Oct-2024Nifty Trading Plan for 22nd October 2024 In the previous session, Nifty traded in a downward channel, testing support levels near 24,673 but failing to break through significant resistance near 25,053. The index displayed signs of weakness after opening resistance was met, resulting in a sideways movement. As the market opens on 22nd October, it is crucial to observe key zones for a potential breakout or breakdown. Gap-Up Opening (100+ Points): If Nifty opens above the 25,053 resistance, wait for confirmation of a sustained breakout beyond 25,095. Long positions can be considered once the price holds above 25,095, with upside targets toward the last intraday resistance at 25,236. Place a stop-loss below 25,053 to minimize risk in case of a reversal. In case Nifty reverses from the 25,095 resistance, watch for a potential retracement back towards 24,800. Flat Opening: For a flat opening near the current levels of 24,739, monitor price action around the immediate support/resistance zone of 24,673-24,643. A sustained breakout above 24,673 could trigger a move toward 25,053 resistance, where price action should be watched carefully for continuation or reversal. On the downside, if Nifty breaks below 24,643, it could retest the 24,553 support area, and a breakdown could see levels near 24,487. Keep a stop-loss at 24,643 for long trades and 24,673 for short trades to protect your position. Gap-Down Opening (100+ Points): If Nifty opens with a gap-down below 24,553, expect selling pressure to intensify, with the next support levels being 24,487 and 24,360 (the "Must Try Zone for Buyers"). If 24,360 holds, a reversal trade could be taken, but it is safer to wait for a confirmed bounce before entering long positions. If 24,360 breaks, the next downside target is 24,296, where buyers may try to defend. However, if the bearish momentum persists, the correction could deepen. Set a stop-loss below 24,360 for long trades, and for shorts, keep it above 24,487. Risk Management Tips for Options Trading: Use spreads or strategies like bull call spreads to limit risk in highly volatile conditions, especially near the 25,053 resistance. Focus on quick exits in options trades when Nifty approaches key resistance levels like 25,095, as sudden reversals can erode premiums. Avoid trading naked calls or puts. Stick to strategies with limited downside risk, such as vertical spreads or iron condors. Manage your position size carefully, especially during gap openings, as they can lead to sharp price movements. Summary & Conclusion: For 22nd October 2024, the key resistance zone is between 25,053 and 25,095. A gap-up above 25,095 could trigger a move toward 25,236. On the downside, 24,673 is the immediate support level to watch for potential breakdowns, with 24,553 and 24,360 being critical zones for buyers to defend. Risk management is crucial, particularly when trading options, as sudden volatility around these levels could affect trade execution and profitability. Always maintain a clear stop-loss strategy to minimize potential losses. Disclaimer: I am not a SEBI registered analyst. This trading plan is based on my personal analysis using technical parameters. Traders are advised to conduct their own research or consult with a financial advisor before making any trading decisions.
NSE:NIFTY
by LiveTradingBox
NIFTY 50 KEY LEVELS FOR 22/10/2024//@description // All credit goes to Tony for the concept of this indicator. His Trading View link: www.tradingview.com // Note: The calculation method in this indicator differs from Tony's, but the concept is derived from his work. **Explanation:** This trading system helps you avoid blind trades by providing confirmation for better entries and exits. It considers volume, past prices, price range and indiavix. **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 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.
NSE:NIFTY
by nandupk
Mother Line Stopping moves to Nifty to go ahead.As you can see clearly from the chart with daily candles that mother line of 50 days EMA is stopping Nifty from progressing ahead. Nifty since October 7 is unable to close substantially above the mother line. This is the power of Mother line resistance. Trend lines are merging and Squeezing the Nifty with very less space left for it to maneuver. Nifty is at exact crossroads with possibility of Breakout or Breakdown at time later during this week. To know more about stop losses, trailing stop losses, Profit booking and investment, financial awareness in general, process of investment in Equity or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Many People who have read it consider it as hand book and perfect guide to equity investment. You can read reviews of the book or purchase the same from Amazon. The book is available on Amazon in Kindle and paperback version. I am sure you are going to find it of massive use. Once you have read the book, I assure you that you will become a next level investor. The Happy Candles Way to Wealth Creation is a book currently rated highest in the category of financial analysis and strategy on Amazon. Supports For Nifty are at: 24685, 24565, 24065 and Father line support of 200 day's EMA at 23417. (Below 23417 in unlikely situation of some major global escalation Bears will take total control of the market). Resistances for Nifty: 24858, 25017 (Mother line Resistance of 50 day's EMA), 25321, 25469 and 25634. Above 25634 bulls can come back to action. Disclaimer: There is a chance of biases including confirmation bias, information bias, halo effect and anchoring bias in this write-up. Investment in stocks, derivatives and mutual funds is subject to market risk please consult your investment advisor before taking financial decisions. The data, chart or any other information provided above is for the purpose of analysis and is purely educational in nature. They are not recommendations of any kind. We will not be responsible for Profit or loss due to descision taken based on this article. The names of the stocks or index levels mentioned if any in the article are for the purpose of education and analysis only. Purpose of this article is educational. Please do not consider this as a recommendation of any sorts.
NSE:NIFTY
by Happy_Candles_Investment
NIFTY trading precariously - Down move head?NSE:NIFTY daily chart is looking bearish with multiple confluences signaling down move. Trend line break Head and Shoulders 5 waves down If we get a negative close below H&S neckline then it would be second close below neckline and might trigger downfall. On the positive side, ideally we should see a deeper retracement of the 5 waves down-move before the down slide starts. At the minimum 38.2% which would also coincide with downward sloping 20 day moving average, currently around 25300. Would this happen or not, only time will tell.
NSE:NIFTYShort
by YetAnotherTA
2