NIFTYNIFTY levels are based on imbalances
1. gapup 24380 long
2. 24380-24240 trade reversal
3. gapdown 24240 short
NIFTY1! trade ideas
Plan for 26th November 2024Nifty future and banknifty future analysis and intraday plan.
This video is for information/education purpose only. you are 100% responsible for any actions you take by reading/viewing this post.
please consult your financial advisor before taking any action.
----Vinaykumar hiremath, CMT
Trading Nifty Features Using Magic NumberIn the realm of technical analysis, the adage "history repeats itself" is a phenomenon that many technical indicators aim to capitalize on. Numbers play a crucial role in predicting the movement of other numbers, and this is where Fibonacci retracements come into play.
Fibonacci retracements are a powerful tool for predicting short-term price movements in contracts. They provide multiple key levels that portray potential support and resistance lines for price oscillations. These levels are derived from the mathematical relationships within the Fibonacci sequence, which includes ratios such as 23.6%, 38.2%, 50%, 61.8%, and 100%.
Let's consider an example using the NIFTY NOV futures chart. Here, the price has already breached the 23.6% level, which is not acting as a potential support line. An astute trader might consider entering a trade with a profit target at the 50% level.
If the price moves in favor of the trade, the trader can lock in profits when the target is reached. Meanwhile, setting the 23.6% level as a stop-loss zone can help avoid significant losses. It's important to note that trading in futures and options is typically suited for professional traders and hedge funds.
Therefore, it is essential to understand the concepts of the Futures and Options (FNO) market thoroughly before taking any action based on this analysis.
Happy trading
Nifty future - Falling wedge breakout.Nifty future chart has formed a wedge pattern and had given a breakout on friday, also crossed previous high on hourly charts for better confirmation.
Also in line chart -> "W" pattern/double bottom pattern has been formed giving a buy on dip market view
Nifty 50: Projected Growth Path to 34,500 by 2027 – Key DriversMy projection of Nifty50 reaching 21,500 and then gradually climbing to 34,500 by September 2027 suggests a long-term bullish scenario for the Indian equity market. This type of projection can be influenced by various factors:
Key Considerations for the Journey:
1) Economic Growth :
India's GDP growth trajectory will play a major role. Sustained economic expansion, driven by infrastructure projects, digital adoption, and manufacturing, could fuel market growth.
Global capital inflow into emerging markets like India due to favorable growth prospects might also support this rise.
2) Corporate Earnings :
A robust increase in corporate profitability will be critical. If sectors like IT, banking, infrastructure, and energy witness strong earnings growth, it will push the index higher.
3) Institutional Participation :
Continued investment by Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) could provide consistent upward momentum.
4) Policy Support :
Pro-business government reforms, favorable monetary policy, and stable inflation could act as catalysts.
Regulatory support from entities like SEBI ensuring market transparency and investor confidence would bolster market growth.
5) Global Markets and Trade :
Stability in global markets, alongside favorable geopolitical conditions, will be important.
Trade relations and global commodity prices (e.g., crude oil) might significantly influence this trajectory.
Risks to Watch :
Geopolitical tensions, global economic slowdown, or sharp interest rate hikes by central banks could derail this optimistic scenario.
Overvaluations might lead to corrections if fundamentals don't keep pace.
Nifty1! Daily Chart Analysis- NFANifty1! Daily Chart Analysis- NFA
-Price rejected from daily resistance (Mid point of red rectangle) aka daily sibi.
-Rejection from mid point of sibi shows its willingness to go further down to next imbalance(BISI-D)
-Expecting 23342 as next draw on liquidity (Green line labeled as top of daily bisi).
