#NIFTY Intraday Support and Resistance Levels - 18/10/2024Nifty will open slightly gap down in today's session. After opening if nifty starts trading below 24700 level then possible strong downside fall upto 24450 level in today's session. 24750-24900 will act as a consolidation zone for nifty. Any bullish side rally only expected above 24900 level.
Niftytrend
Nifty Next MoveNifty have formed harmonic pattern
we can expect a small down trend and after Rally
also the area is above 70% of the trend line formation so we can expect buyers in Discount area
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Nifty Plummets! All Targets Achieved in 15-Minute Short TradeTechnical Analysis: Nifty – 15-Minute Timeframe (Short Trade)
Nifty provided a clear short trade setup with an entry at 25006.45 on 16th October at 2:45 PM. The trade has been highly successful, with the price reaching all designated profit targets.
Key Levels
Entry: 25006.45 – The short position was initiated here following a strong bearish signal.
Stop-Loss (SL): 25032.75 – Placed above recent resistance to manage risk against a potential reversal.
Take Profit 1 (TP1): 24973.90 – The first target was quickly reached, confirming the initial bearish momentum.
Take Profit 2 (TP2): 24921.30 – Further downside pressure pushed the price to this level.
Take Profit 3 (TP3): 24868.70 – The bearish trend continued, achieving this target.
Take Profit 4 (TP4): 24836.20 – The final target, marking a complete and successful trade.
Trend Analysis
The price stayed firmly below the Risological Dotted trendline, affirming the strength of the bearish trend. The sustained selling pressure helped achieve all targets, indicating strong market momentum in favor of sellers.
The short trade on Nifty has concluded successfully, hitting all targets, with the final target at 24836.20. The precision of the entry and the guidance of the Risological Dotted trendline ensured a profitable trade.
#NIFTY Intraday Support and Resistance Levels - 17/10/2024Flat or slightly gap up opening expected in nifty near 25000 level. Bullish rally expected if nifty starts trading and sustain above 25050 level. Below 25000 level there will be downside expected upto 24850 level. For today session 24850 level will act as an important support for nifty. Below this level strong downside expected in index.
Mother, Father lines and the trend line stopping NiftyEvery effort of Nifty is being stopped by mother line, Father line or the trend line. It shows weakness but the turnaround might be around the corner. The possible turnaround zones can be around 24915, 24684 or 24478. If we get a closing below 24478 bears can take over. Resistances on the upper side are 25045, 25088 and 25230. Above 25230 bulls can take a commanding position. Very delicately placed Nifty with a negative shadow of the candle. But some turn around can be expected within this week or the next when we get support from one of the zones mentioned above.
#NIFTY Intraday Support and Resistance Levels - 15/10/2024Gap up opening expected in nifty near 25200 level. After opening in case nifty gives breakout and starts trading above 25250 level then possible strong upside rally upto 25450+ level in today's session. Downside expected below 25200 level. 25050 level will act a strong downside support for nifty.
Baby steps taken by Nifty towards road to recovery. Today we saw Nifty take first baby steps towards road to recovery. Nifty was seen rising from channel bottom in the hourly chart. One must note that formidable Mother and Father resistance are yet to be conquered. Nifty today was blocked by Mother line which is at 25140. Father line which is at 25262 is waiting to resist further progress of Nifty.
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.
If Nifty is able to conquest Mother and Father line, the next resistances will be at 25475, 25644, 25753 and 25875 before Nifty is able to regain 26K levels.
Supports for Nifty will be at 24915 (Important Parallel chanel bottom), 24684 and 24478. In worst case scenario Nifty bottom currently seems to be near 23891. It is less likely that Nifty reaches here unless there is some escalation in Middle East or some other major global event.
#NIFTY Intraday Support and Resistance Levels - 14/10/2024Flat opening expected in nifty. Expected opening near 25000 level. After opening if nifty starts trading below 24950 level then possible downside upto 24700 level. Any upside rally only expected if it's sustain above 25000 level in starting session. Upside 25250 will act as a strong resistance in today's session.
#NIFTY Intraday Support and Resistance Levels - 11/10/2024Today expected slightly gap down opening in nifty near 25000 level. After opening if nifty sustain above 25000 level then possible upside move upto 25250 level. Below 24950 level there will be strong downside fall possible upto 24700 level. Any major bullish rally only expected in case nifty starts trading and sustain above 25250 level.
Trendline resistance continues to halt Nifty. Closing BellThe trend line resistance continues to halt Nifty. Again today after making a high of 25134 Nifty saw selling pressure mostly again from FIIs. This time Nifty closed the day at 24998 below the psychological level of 25,000. This can enable bears to make Nifty test the support zone between 24932 and 24677. The resistance of Nifty are now at 25057, 25134 and 25204 Mother line resistance of 50 hours EMA and 25294 father line resistance of 200 hours EMA. Nifty continues to squeeze between support and resistance trend line and tomorrow can be the day when we can see either a proper upwing or downward move. Above 25294 Bulls will be very aggressive and drive Nifty upwards. Below 24677 Bears will be very aggressive and thrash Nifty downwards.
Strictly do not trade/invest without keeping Stop losses and Trailing stop losses. Stop losses protect your capital and trailing stop losses protect your profits. To know more about stop losses, trailing stop losses, Profit booking and investment in Equity in general or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Which is available in Amazon in Kindle and Paperback version.
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. 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.
#NIFTY Intraday Support and Resistance Levels - 10/10/2024Slightly Gap up opening expected in nifty near 25100 level. After opening if nifty sustain above 25050 level then possible upside rally upto 25250. Strong 200-250 points downside expected in case nifty starts trading below 24950 level in today's session. Any major upside only expected if nifty starts trading and sustain above 25300 level.
NIFTY INTRADAY LEVELS FOR 10/10/2024BUY ABOVE - 25060
SL - 24970
TARGETS - 25120,25180,25230
SELL BELOW - 24970
SL - 25060
TARGETS - 24890,24800,24700
NO TRADE ZONE - 24970 to 25060
Previous Day High - 25280
Previous Day Low - 24970
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.
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Mother & Father resistance on Hourly chart stops Nifty progressThe zone between 25234 and 25313 has resistances like Mother line, Father line and today's high. Crossing this zone will be important to cross for Nifty to progress further. If this zone is crossed the next targets or resistances will be at 25481 and 25687. Supports for Nifty are at 24932, 24667 and 24470. Below 24470 Nifty will become very weak. RSI median line at 43.59 is support and mid channel RSI at 50 will be the resistance. Shadow of the candle currently is neutral to positive. Nifty is squeezing between support and resistace trendline and can give a move in any direction tomorrow. Not sustaining the highs of the day was a negative sign but we all know taking mother and father ashirwaad (Closing above mother and father line is never easy when they are in resistance mode).
Strictly do not trade/invest without keeping Stop losses and Trailing stop losses. Stop losses protect your capital and trailing stop losses protect your profits. To know more about stop losses, trailing stop losses, Profit booking and investment in Equity in general or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Which is available in Amazon in Kindle and Paperback version.
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. 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.