NIFTY ANALYSIS FOR 20th September 2023-FOR EDUCATION PURPOSENIFTY ANALYSIS FOR 20th September 2023-FOR EDUCATION PURPOSE
This video is for educational purpose and my personal view . We are NOT SEBI registered Advisor, we only give the level on our practical trading experience. Kindly take the trade according to your risk and reward position and consulting your advisor. It is advisable to take the advice of SEBI registered advisor.
@vijayanjum
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Nfity50
nifty pre market analysis26JULY ANALYSIS:
Daily analysis:
Nifty opens:
side: buy if it breaks up with some consolidation (PS-30%)
gapup: for gap up wait for price-action and buy if give breakout after some conolidation(ps-50%)
we will buy only when market closes above 19785 (PS40%, if gives breakout after 12 then 60%PS)
gapdown: we will sell if market breaks after some consolidation
- on big gapdown we will buy if market makes 5 min bullish candle
nifty pre market analysis21JULY ANALYSIS:
Daily analysis:
Nifty opens:
side: if market gives breakout after some consolidation then buy(PS-50%)
gapup: for gap up wait for price-action and then buy if market goes up after taking support (ps-50%)
if a morning star candle formed(inverted candle with wick) then we can sell in very less quantity (ps-20%)
gapdown: if gives breakout upside after 5 min hammer candle we willbuy
below 19800 is sell zone. before that we will not sell in high qty
nifty pre market analysis19JULY ANALYSIS:
Daily analysis:
Nifty opens:
side: if market gives breakout after some consolidation then buy(PS-50%)
gapup: for gap up wait for price-action and then buy if market goes up after taking support (ps-50%)
gapdown: open below day low then we will sell in later half of the market if price-action form
on big gap down we will buy after 5 min, as market will again try to go up after opening near demand zone.
nifty pre market analysis17JULY ANALYSIS:
Daily analysis:
Nifty opens:
side: if market gives breakout after some consolidation then buy(PS-100%)
gapup: for gap up wait for price-action and then buy if market goes up after taking support (ps-100%)
gapdown: sell only below 14450, if price action starts to build up
The hourly Channel broken on the upper side. What Next?The hourly channel that we were following since last 2 months or more has been broken on the upper side due to the ongoing mad bull run. The question that comes to various minds is what next for Nifty or where next for Nifty. To answer that we go back to the daily chart and apply simple fibonacci levels. Fibonacci levels on daily charts suggest the following supports and resistances:
Next Fibonacci Resistance at: 19448 followed by 20162 (Both have potential to be Major resistances with many minor resistances in between).
Fibonacci Supports: 18887.6 (previous Peak), 18446 (Major Fibonacci support and 50 days EMA very close to it), 17856 (Another Mega Fibonacci support with 200 days EMA very close by).
Short and Medium Term Outlook for NIFTY on Daily chart. In the short Nifty looks little indecisive. I the medium term Nifty looks solid.
Couple of Dojis after cup and Handle Break Out for NIFTY indicates some tussle between Bulls and Bears. Where Bulls have managed to or are trying to free Nifty from a two year consolidation phase where Nifty was mostly between 16000 and 18000. At the same time Bears are trying that Nifty again falls into the Abyss and stays in the consolidation zone.
One 3 to 5% dip will come in the next couple of months before or just after Nifty reaches near or closes above All time high levels.
Supports for Nifty: 18584, 18508, 18372, 18225 and finally 18011.
Resistances for Nifty: 18661, 18736, 18784 and finally 18887.
Nifty daily analysis1. 18320 if nifty crosses this level after opening sideways than we can enter to buy in full
2. if nifty opened with gapdown then we will see price action- if after 5 min it makes hammer and crosses we will buy it
3. if nifty opened gapup then we will wait for 5 min candle on lower side for gap filling - we could buy if market makes some bullish pattern by
taking support of 18320.
4. if you want to sell on gapup then trade less than 1/3 qty after 5 min low breakout
5. if price-action is formed on lower side after gapdown below 18200 then we will try to sell in 1/3 qty. We will turn bearish for short term if market breaks 18100