Forwarded from Fast Profits Daily
Nifty - At Intraday Support 📈
Hey Traders,
It's time to look for intraday longs as the index is trading at the support zone.
1. Trendline breakout retest
2. Ichimoku cloud support
3. Psychological level of 17,000
The pattern negates below 16,957.
#Nifty
#KeepItSimple
Hey Traders,
It's time to look for intraday longs as the index is trading at the support zone.
1. Trendline breakout retest
2. Ichimoku cloud support
3. Psychological level of 17,000
The pattern negates below 16,957.
#Nifty
#KeepItSimple
👍6
Forwarded from Fast Profits Daily
HDFC leading Nifty to 18,000 🔥
HDFC Ltd has hit a 52-week high surpassing the historic day high of 4th April 2022.
On the ratio chart of HDFC/Nifty50, the trendline breakout indicates an outperformance of HDFC over Nifty50.
If the ratio continues to head higher, it will lead Nifty towards the 18,000 mark.
HDFC Ltd weighs ~6% in the Nifty50 index.
#Nifty
#HDFC
#KeepItSimple
HDFC Ltd has hit a 52-week high surpassing the historic day high of 4th April 2022.
On the ratio chart of HDFC/Nifty50, the trendline breakout indicates an outperformance of HDFC over Nifty50.
If the ratio continues to head higher, it will lead Nifty towards the 18,000 mark.
HDFC Ltd weighs ~6% in the Nifty50 index.
#Nifty
#HDFC
#KeepItSimple
👍7
Forwarded from Fast Profits Daily
Nifty - Expect a Range Trading between 17,570-17,870 📈📉
The bearish belt-hold candlestick pattern, previous swing high and the gap support signal the market may trade in a range for a day or so.
The consecutive day's bearish belt-hold pattern turns the table from bullish to bearish on the chart.
Bulls can be in the game only above 17,900.
#Nifty
#WeeklyExpiry
#KeepItSimple
The bearish belt-hold candlestick pattern, previous swing high and the gap support signal the market may trade in a range for a day or so.
The consecutive day's bearish belt-hold pattern turns the table from bullish to bearish on the chart.
Bulls can be in the game only above 17,900.
#Nifty
#WeeklyExpiry
#KeepItSimple
👍5
Forwarded from Fast Profits Daily
Nifty - Bulls vs Bears on Friday 📈📉
Index is trending within the range of the 17,570-17,870 zone for the last couple of days.
On Tuesday, I highlighted the rangebound trading ahead of the weekly expiry.
Index tends to break the range on Friday and this time it's Bulls vs Bears for 17,500.
On derivatives data, 17500PE and 17600PE are holding over a lakh of OI for the 27th April expiry while 17700CE holds OI of over 2L.
The breakout of 17,500-17,900 may decide the trending move; till then it is the option writer's paradise.
#TGIF
#Nifty
#KeepItSimple
Index is trending within the range of the 17,570-17,870 zone for the last couple of days.
On Tuesday, I highlighted the rangebound trading ahead of the weekly expiry.
Index tends to break the range on Friday and this time it's Bulls vs Bears for 17,500.
On derivatives data, 17500PE and 17600PE are holding over a lakh of OI for the 27th April expiry while 17700CE holds OI of over 2L.
The breakout of 17,500-17,900 may decide the trending move; till then it is the option writer's paradise.
#TGIF
#Nifty
#KeepItSimple
👍6❤1
Forwarded from Fast Profits Daily
Nifty - Timing is Everything, Buying in the Accumulation Zone📈📉
The index has retraced by 38.20% Fibonacci level from the low of 17,553 to the high of 18,458 at 18,115.
In a bullish trend, a retracement refers to a pullback in the upward price movement offering opportunities for buying or adding to existing positions at relatively lower prices before the upward momentum continues.
The blue parallel lines marked at previous swing highs will act as a support zone for the ongoing bullish trend.
Ichimoku Kinko Hyo, a popular technical analysis tool is signalling buy as the index is trading at the support of the cloud which coincides with the support zone signalling an accumulation zone for bulls.
The zone of 18,090-18,140 will act as an accumulation zone for Nifty and the break of 17,975 will negate the chart structure.
#Nifty
#KeepItSimple
The index has retraced by 38.20% Fibonacci level from the low of 17,553 to the high of 18,458 at 18,115.
In a bullish trend, a retracement refers to a pullback in the upward price movement offering opportunities for buying or adding to existing positions at relatively lower prices before the upward momentum continues.
The blue parallel lines marked at previous swing highs will act as a support zone for the ongoing bullish trend.
Ichimoku Kinko Hyo, a popular technical analysis tool is signalling buy as the index is trading at the support of the cloud which coincides with the support zone signalling an accumulation zone for bulls.
The zone of 18,090-18,140 will act as an accumulation zone for Nifty and the break of 17,975 will negate the chart structure.
#Nifty
#KeepItSimple
👍10
Forwarded from Fast Profits Daily
Nifty H&S Breakdown: Can it hit 18,140 on Expiry Day?
The Dow Jones broke down below the seven weeks low and the key psychological level of 33,000 while European markets are witnessing profit bookings. Will this impact Indian markets?
Nifty, on the short-term chart of 30mins we are witnessing the breakdown from the head and shoulders (H&S) pattern.
The H&S is a popular chart pattern to predict trend reversals in financial markets. A bearish pattern typically forms after an uptrend, indicating that the price may reverse and start a downtrend.
The neckline breakdown at 18,290 indicates the bearish signal. The height from the head to the neckline is 150 points, targeting 18,140.
On the derivative structure, the 18200PE holds an Open interest )OI) of 3.9L which may act as a support zone.
The H&S may negate above 18,356. Also, 18300CE holds an OI of 3.85L indicating the hurdle for bulls.
#Nifty
#ExpiryLevels
#KeepItSimple
The Dow Jones broke down below the seven weeks low and the key psychological level of 33,000 while European markets are witnessing profit bookings. Will this impact Indian markets?
Nifty, on the short-term chart of 30mins we are witnessing the breakdown from the head and shoulders (H&S) pattern.
The H&S is a popular chart pattern to predict trend reversals in financial markets. A bearish pattern typically forms after an uptrend, indicating that the price may reverse and start a downtrend.
The neckline breakdown at 18,290 indicates the bearish signal. The height from the head to the neckline is 150 points, targeting 18,140.
On the derivative structure, the 18200PE holds an Open interest )OI) of 3.9L which may act as a support zone.
The H&S may negate above 18,356. Also, 18300CE holds an OI of 3.85L indicating the hurdle for bulls.
#Nifty
#ExpiryLevels
#KeepItSimple
👍3
Forwarded from Fast Profits Daily
Nifty's Gap Support Holds the Key 📈📉
The Nifty is currently trading at a crucial support zone of 18,500-18,450 formed by a combination of a gap and a horizontal trendline.
The convergence of support levels signifies a significant area where buyers have historically stepped in, leading to potential price reversals.
The gap of 18,508-18,584 indicates strong buying interest, while the horizontal trendline provides additional confirmation.
Traders and investors closely monitor this level as it holds the potential for a bullish bounce-back. However, caution is advised, as a break below this support zone could signal further downside pressure.
Additionally, the 18,600 may act as a resistance level as the options writers (CE) step in with an addition in OI of 2L in 18600CE to the total of 3.42L as of 10:05am today for 1st June 2023 expiry.
(CMP-18,560)
#Nifty
#KeepItSimple
The Nifty is currently trading at a crucial support zone of 18,500-18,450 formed by a combination of a gap and a horizontal trendline.
The convergence of support levels signifies a significant area where buyers have historically stepped in, leading to potential price reversals.
The gap of 18,508-18,584 indicates strong buying interest, while the horizontal trendline provides additional confirmation.
Traders and investors closely monitor this level as it holds the potential for a bullish bounce-back. However, caution is advised, as a break below this support zone could signal further downside pressure.
Additionally, the 18,600 may act as a resistance level as the options writers (CE) step in with an addition in OI of 2L in 18600CE to the total of 3.42L as of 10:05am today for 1st June 2023 expiry.
(CMP-18,560)
#Nifty
#KeepItSimple
👍6❤1
Forwarded from Fast Profits Daily
Nifty is warming up for ATH! 📈🔥
Hey Nifty Traders,
The index has broken through its first resistance level of 18,604 and sustains above the support zone of 18,500.
Is Nifty gearing up for ATH?
With a break from the first hurdle, we must keep an eye on the next challenge that lies ahead. The next hurdle is positioned in the range of 18,777-18,887.
It's crucial for Nifty to surpass this level to continue its upward momentum and accelerate the bullish trend.
One interesting observation about Nifty is its tendency to break barriers with a gap. This means that there's a possibility of a significant jump once it breaches the resistance.
So, buckle up and get ready for potential exciting gains!
Happy Trading! 🚀💰
#Nifty
#KeepItSimple
Hey Nifty Traders,
The index has broken through its first resistance level of 18,604 and sustains above the support zone of 18,500.
Is Nifty gearing up for ATH?
With a break from the first hurdle, we must keep an eye on the next challenge that lies ahead. The next hurdle is positioned in the range of 18,777-18,887.
It's crucial for Nifty to surpass this level to continue its upward momentum and accelerate the bullish trend.
One interesting observation about Nifty is its tendency to break barriers with a gap. This means that there's a possibility of a significant jump once it breaches the resistance.
So, buckle up and get ready for potential exciting gains!
Happy Trading! 🚀💰
#Nifty
#KeepItSimple
👍9❤1
Forwarded from Fast Profits Daily
Nifty and BankNifty at Crucial Do-or-Die Levels 🔔
Nifty is currently trading near a critical support level represented by a rising trendline. This support level is of utmost significance as it has been holding up the market's upward trajectory. However, caution is warranted as a break below 18,630 could potentially signal a short-term top formation.
Bank Nifty, the banking sector index, is currently hovering around a major support zone at 43,390. This zone has historically proven to be a significant level, influencing market sentiment and direction. If the support zone is breached, we may witness an acceleration of bearish momentum in the market.
It's essential for traders and investors to stay alert and carefully observe price movements in these key indices. The outcome of these crucial levels will likely shape the near-term market direction.
Keep a close eye on Nifty's rising trendline support at 18,630 and Bank Nifty’s support zone at 43,390.
#KeepItSimple
#Nifty
#BankNifty
Nifty is currently trading near a critical support level represented by a rising trendline. This support level is of utmost significance as it has been holding up the market's upward trajectory. However, caution is warranted as a break below 18,630 could potentially signal a short-term top formation.
Bank Nifty, the banking sector index, is currently hovering around a major support zone at 43,390. This zone has historically proven to be a significant level, influencing market sentiment and direction. If the support zone is breached, we may witness an acceleration of bearish momentum in the market.
It's essential for traders and investors to stay alert and carefully observe price movements in these key indices. The outcome of these crucial levels will likely shape the near-term market direction.
Keep a close eye on Nifty's rising trendline support at 18,630 and Bank Nifty’s support zone at 43,390.
#KeepItSimple
#Nifty
#BankNifty
👍12
Forwarded from Fast Profits Daily
Nifty – The Bearish Patterns on Short-term Chart 📉
The Nifty 30mins chart is showing intriguing topping patterns, including a Double Top and an Inverse Cup and Handle formation.
If the price sustains a move below the critical support level of 18630, it could accelerate the bearish momentum, especially considering the truncated and expiry week ahead. This breakdown might indicate a shift in sentiment and potentially lead to further downside movement in the Nifty.
Double Top: The presence of a Double Top pattern occurs when the price reaches a peak level twice, followed by a decline. It suggests that the market may struggle to push higher and could reverse its trend.
Inverse Cup and Handle: The Inverse Cup and Handle pattern is characterized by a rounded bottom (cup), followed by a slight upward correction (handle) before a potential downside breakout. It indicates a possible trend reversal from bullish to bearish.
#Nifty
#KeepItSimple
The Nifty 30mins chart is showing intriguing topping patterns, including a Double Top and an Inverse Cup and Handle formation.
If the price sustains a move below the critical support level of 18630, it could accelerate the bearish momentum, especially considering the truncated and expiry week ahead. This breakdown might indicate a shift in sentiment and potentially lead to further downside movement in the Nifty.
Double Top: The presence of a Double Top pattern occurs when the price reaches a peak level twice, followed by a decline. It suggests that the market may struggle to push higher and could reverse its trend.
Inverse Cup and Handle: The Inverse Cup and Handle pattern is characterized by a rounded bottom (cup), followed by a slight upward correction (handle) before a potential downside breakout. It indicates a possible trend reversal from bullish to bearish.
#Nifty
#KeepItSimple
👍13❤1
Forwarded from Fast Profits Daily
Nifty - Aakhir Karna kya Chahte Ho? 😛
The battle for supremacy in the market continues as the bulls fiercely fight to protect the crucial support level of 18,600-18,650. These determined bulls are unwilling to let the bears break through this critical barrier!
On the other side, the bears are not backing down either. They have set their sights on defending the All-Time High (ATH) with all their might. The bears are determined to prevent any further upward movement and maintain their dominance in the market.
This epic clash between the bulls and bears has created an exhilarating atmosphere in the financial realm. The struggle for control is evident, with both sides employing their strategies and tactics to outmanoeuvre each other.
As the tension builds and emotions run high, it's important to patiently wait for either side to break out.
#Nifty
#KeepItSimple
The battle for supremacy in the market continues as the bulls fiercely fight to protect the crucial support level of 18,600-18,650. These determined bulls are unwilling to let the bears break through this critical barrier!
On the other side, the bears are not backing down either. They have set their sights on defending the All-Time High (ATH) with all their might. The bears are determined to prevent any further upward movement and maintain their dominance in the market.
This epic clash between the bulls and bears has created an exhilarating atmosphere in the financial realm. The struggle for control is evident, with both sides employing their strategies and tactics to outmanoeuvre each other.
As the tension builds and emotions run high, it's important to patiently wait for either side to break out.
#Nifty
#KeepItSimple
👍10❤1
Forwarded from Fast Profits Daily
Nifty Breaks Out of Broadening Triangle Pattern 📈
Its ATH and the Nifty have just broken out of a broadening triangle pattern on the 2-hour chart, signalling a potential bullish move ahead.
This breakout suggests a shift in market sentiment and the potential for further upward momentum in the index.
Traders should seize this opportunity to assess their trading strategies and capitalize on potential upside gains. However, it's important to exercise caution and implement risk management techniques such as stop-loss orders to protect against unforeseen market fluctuations.
#Nifty
#KeepItSimple
Its ATH and the Nifty have just broken out of a broadening triangle pattern on the 2-hour chart, signalling a potential bullish move ahead.
This breakout suggests a shift in market sentiment and the potential for further upward momentum in the index.
Traders should seize this opportunity to assess their trading strategies and capitalize on potential upside gains. However, it's important to exercise caution and implement risk management techniques such as stop-loss orders to protect against unforeseen market fluctuations.
#Nifty
#KeepItSimple
👍11
Forwarded from Fast Profits Daily
Nifty Update: Potential Accumulation Level
Hey Traders! Nifty is currently trading at a crucial juncture, should you buy this dip?
Nifty has approached a significant support zone formed by multiple horizontal trendlines and the lower band of the Bollinger Band indicator. This zone ranges between 19,500 to 19,600.
These levels could potentially act as an accumulation zone, where buyers might show increased interest and push the index higher.
On the positive side, if Nifty manages to hold above 19,500, it could signal a potential bullish reversal in the short term.
However, we must also remain cautious. The pattern's bullish outlook negates if the Nifty breaks below the crucial support level of 19,450.
#Nifty
#KeepItSimple
Hey Traders! Nifty is currently trading at a crucial juncture, should you buy this dip?
Nifty has approached a significant support zone formed by multiple horizontal trendlines and the lower band of the Bollinger Band indicator. This zone ranges between 19,500 to 19,600.
These levels could potentially act as an accumulation zone, where buyers might show increased interest and push the index higher.
On the positive side, if Nifty manages to hold above 19,500, it could signal a potential bullish reversal in the short term.
However, we must also remain cautious. The pattern's bullish outlook negates if the Nifty breaks below the crucial support level of 19,450.
#Nifty
#KeepItSimple
👍4❤1
Forwarded from Fast Profits Daily
Nifty Enters Demand Zone 📈💪🏻
Nifty enters the demand zone on the hourly chart. The risk-reward dynamics have set the stage for the bulls to seize control.
Here's why you should be paying attention:
1. Demand Zone of 234HEMA:
The High and Low of 234HEMA marks a critical demand zone.
2. 61.80% Fibonacci Retracements:
Technical enthusiasts, take note!
The 61.80% Fibonacci retracement level intersects with the demand zone.
3. Tales of Gap:
The intriguing interplay of gaps, both as support and resistance, adds another layer to this captivating scenario.
Bullish Opportunity:
The hourly chart signals a bullish opportunity in the range of 19,400-19,440. The patterns are falling into place, suggesting potential upward momentum.
Risk:
On a cautionary note, the pattern could potentially fail below the support of 19,275.
As the Nifty dances within the demand zone and technical factors align, traders should grab an exciting opportunity for potential gains.
#Nifty (CMP-19,440)
#KeepItSimple
Nifty enters the demand zone on the hourly chart. The risk-reward dynamics have set the stage for the bulls to seize control.
Here's why you should be paying attention:
1. Demand Zone of 234HEMA:
The High and Low of 234HEMA marks a critical demand zone.
2. 61.80% Fibonacci Retracements:
Technical enthusiasts, take note!
The 61.80% Fibonacci retracement level intersects with the demand zone.
3. Tales of Gap:
The intriguing interplay of gaps, both as support and resistance, adds another layer to this captivating scenario.
Bullish Opportunity:
The hourly chart signals a bullish opportunity in the range of 19,400-19,440. The patterns are falling into place, suggesting potential upward momentum.
Risk:
On a cautionary note, the pattern could potentially fail below the support of 19,275.
As the Nifty dances within the demand zone and technical factors align, traders should grab an exciting opportunity for potential gains.
#Nifty (CMP-19,440)
#KeepItSimple
👍5
Forwarded from Fast Profits Daily
W35.png
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Weekly Seasonality Analysis on Nifty 📈
As we step into the final week of the August series, Nifty ventures into the 35th week of 2023.
A fascinating insight from Seasonality Analysis has emerged – out of the 52 weeks in a year, a mere 8 have displayed an average gain of over +1% throughout a historical span of 27 years. Interestingly, Week 35 stands proudly among this select group.
Delving deeper into the statistics of Week 35, we observe an average gain of 1.09%. This remarkable figure is backed by a track record of 19 positive years, where the market saw an uptrend and only 8 years when it experienced a downturn. The significance of these findings sheds light on the potential opportunities this week might offer.
Happy Sunday!
#SeasonalityAnalysis
#Nifty
As we step into the final week of the August series, Nifty ventures into the 35th week of 2023.
A fascinating insight from Seasonality Analysis has emerged – out of the 52 weeks in a year, a mere 8 have displayed an average gain of over +1% throughout a historical span of 27 years. Interestingly, Week 35 stands proudly among this select group.
Delving deeper into the statistics of Week 35, we observe an average gain of 1.09%. This remarkable figure is backed by a track record of 19 positive years, where the market saw an uptrend and only 8 years when it experienced a downturn. The significance of these findings sheds light on the potential opportunities this week might offer.
Happy Sunday!
#SeasonalityAnalysis
#Nifty
👍12❤3
Forwarded from Fast Profits Daily
Market Devotion: Ganesh Chaturthi and Nifty's Performance 🙏🏻📈🐘
As we celebrate the joyous occasion of Ganesh Chaturthi tomorrow, let's look at the historical performance of Nifty during this auspicious week and the weeks that follow. 🪔🎉
Ganesh Chaturthi Week: 📈
Nifty has consistently shown positive returns during the Ganesh Chaturthi week. This period is often marked by festive enthusiasm and positive sentiment, contributing to an average gain of 1.46% during this week.
Week Post-Ganesh Chaturthi: 📈
The positivity doesn't stop as Nifty's performance remains robust during the week immediately following Ganesh Chaturthi, with an average gain of 1.28%.
Second Week Post-Ganesh Chaturthi: 📉
However, it's important to note that the enthusiasm tends to taper off in the second week post-Ganesh Chaturthi. Market participants often engage in profit bookings, leading to an average loss of 0.5% during this period.
May Lord Ganesha bless our investments with success and wisdom. 🙏🌟
#KeepItSimple
#Nifty
As we celebrate the joyous occasion of Ganesh Chaturthi tomorrow, let's look at the historical performance of Nifty during this auspicious week and the weeks that follow. 🪔🎉
Ganesh Chaturthi Week: 📈
Nifty has consistently shown positive returns during the Ganesh Chaturthi week. This period is often marked by festive enthusiasm and positive sentiment, contributing to an average gain of 1.46% during this week.
Week Post-Ganesh Chaturthi: 📈
The positivity doesn't stop as Nifty's performance remains robust during the week immediately following Ganesh Chaturthi, with an average gain of 1.28%.
Second Week Post-Ganesh Chaturthi: 📉
However, it's important to note that the enthusiasm tends to taper off in the second week post-Ganesh Chaturthi. Market participants often engage in profit bookings, leading to an average loss of 0.5% during this period.
May Lord Ganesha bless our investments with success and wisdom. 🙏🌟
#KeepItSimple
#Nifty
👍14
Forwarded from Fast Profits Daily
Nifty Update: At the Bargain Buying Levels
Nifty started the day with a notable gap down, shedding over 150 points. 📉
The bears seem to be struggling to maintain their momentum, lacking the follow-up selling pressure. 🐻
On the other hand, the bulls are putting up a strong fight to keep the markets afloat, defending key technical levels and the psychological milestone of 20,000. 🐂
Let's break down the technical landscape:
1. A prominent 45-degree trendline (in red) is currently in play.
2. There's a crucial horizontal trendline at the previous high of 19,991.
3. Remember that we have solid support in the gap area (highlighted in green).
The big question is, can the bulls maintain their grip on these support levels?
If they succeed in doing so, we might just be looking at the possibility of new highs in the near future. The bulls resolve could weaken if Nifty breaches the critical level of 19,856.
#Nifty - CMP-20,000
#KeepItSimple
Nifty started the day with a notable gap down, shedding over 150 points. 📉
The bears seem to be struggling to maintain their momentum, lacking the follow-up selling pressure. 🐻
On the other hand, the bulls are putting up a strong fight to keep the markets afloat, defending key technical levels and the psychological milestone of 20,000. 🐂
Let's break down the technical landscape:
1. A prominent 45-degree trendline (in red) is currently in play.
2. There's a crucial horizontal trendline at the previous high of 19,991.
3. Remember that we have solid support in the gap area (highlighted in green).
The big question is, can the bulls maintain their grip on these support levels?
If they succeed in doing so, we might just be looking at the possibility of new highs in the near future. The bulls resolve could weaken if Nifty breaches the critical level of 19,856.
#Nifty - CMP-20,000
#KeepItSimple
👍4❤3
Forwarded from Fast Profits Daily
Nifty Expiry Levels: Trading Insights for Today
What an exciting day it has been for the bulls in Nifty yesterday!
The bulls successfully defended the support zone of 19,640-19,570, which paved the way for a reversal. The index closed above 19,700, indicating positive momentum.
Keep an eye on the major hurdle at 19,730 according to my proprietary moving average theory. Additionally, the previous high of 19,795 could add a layer of resistance for the bulls.
On the flip side, 19,500 is expected to act as a reliable support zone.
Today's Expiry Range: As we approach the expiry, I anticipate Nifty to trade within the range of 19,600-19,800.
Opportunities: For put buyers, consider looking for opportunities in the range of 19,740-19,770, while call option (CE) buyers can explore the range of 19,630-19,650.
Based on current trends, the probable expiry level could fall within the range of 19,679-19,723.
#Nifty
#KeepItSimple
What an exciting day it has been for the bulls in Nifty yesterday!
The bulls successfully defended the support zone of 19,640-19,570, which paved the way for a reversal. The index closed above 19,700, indicating positive momentum.
Keep an eye on the major hurdle at 19,730 according to my proprietary moving average theory. Additionally, the previous high of 19,795 could add a layer of resistance for the bulls.
On the flip side, 19,500 is expected to act as a reliable support zone.
Today's Expiry Range: As we approach the expiry, I anticipate Nifty to trade within the range of 19,600-19,800.
Opportunities: For put buyers, consider looking for opportunities in the range of 19,740-19,770, while call option (CE) buyers can explore the range of 19,630-19,650.
Based on current trends, the probable expiry level could fall within the range of 19,679-19,723.
#Nifty
#KeepItSimple
👍2
Forwarded from Fast Profits Daily
Nifty Expiry Levels: Trading Insights for Today
What an exciting day it has been for the bulls in Nifty yesterday!
The bulls successfully defended the support zone of 19,640-19,570, which paved the way for a reversal. The index closed above 19,700, indicating positive momentum.
Keep an eye on the major hurdle at 19,730 according to my proprietary moving average theory. Additionally, the previous high of 19,795 could add a layer of resistance for the bulls.
On the flip side, 19,500 is expected to act as a reliable support zone.
Today's Expiry Range: As we approach the expiry, I anticipate Nifty to trade within the range of 19,600-19,800.
Opportunities: For put buyers, consider looking for opportunities in the range of 19,740-19,770, while call option (CE) buyers can explore the range of 19,630-19,650.
Based on current trends, the probable expiry level could fall within the range of 19,679-19,723.
#Nifty
#KeepItSimple
What an exciting day it has been for the bulls in Nifty yesterday!
The bulls successfully defended the support zone of 19,640-19,570, which paved the way for a reversal. The index closed above 19,700, indicating positive momentum.
Keep an eye on the major hurdle at 19,730 according to my proprietary moving average theory. Additionally, the previous high of 19,795 could add a layer of resistance for the bulls.
On the flip side, 19,500 is expected to act as a reliable support zone.
Today's Expiry Range: As we approach the expiry, I anticipate Nifty to trade within the range of 19,600-19,800.
Opportunities: For put buyers, consider looking for opportunities in the range of 19,740-19,770, while call option (CE) buyers can explore the range of 19,630-19,650.
Based on current trends, the probable expiry level could fall within the range of 19,679-19,723.
#Nifty
#KeepItSimple
👍7❤2