Nifty and Banknifty Clues of Repetition and Further Direction

 

Hallo Friends ,

I am writing after a long time here on Blog due to some other priorities. Now will probably writing frequently. Hope you all doing well.

Nifty Future Corrections and its Repetitions :-

• 1st Correction from 8329 to 8241=88 points

• 2nd Correction 8468 to 8433= 135 points

• 3rd Correction 8698 to 8555= 143 Points

• 4th Correction 8846 to 8727 = 119 points

 

So Nifty Future Corrections are between 90 to 140 points approx. in this strong upmove. And after Corrections it is continuously making upmove.

Now what we can understand or take from this?

1. 1st scenario of continuation of upmove—here we have to see if Nifty future makes any correction of around 90 to 140 points there we can watch out for price action for possible continuation of Upmove.

2. 2nd scenario of reversal or  bigger correction – here if Nifty future continues to correct more than 140 points we can have a cautious approach for long side and can look for possible reversal or bigger retracement.

 

Banknifty Future Corrections and its Repetitions:-

 

Like we discussed in Nifty Future same scenario here.

• 1st correction of 18280 to 17855 = 425 Points

• 2nd Correction of  19297 to 18742 = 555 points

• 3rd Correction of 19874 to 19492 = 382 Points

• 4th Correction of  20504 to 20055 = 449 Points

One more correction on a Gap Up day of break of Consolidation is of 20874 to 20420 =454 Points (this I havent marked on Charts)

So broadly Banknifty Future Corrections are between 380 Points to 550 Points approx.

Same thught process here as above in Nifty Future. we can watch for the correction if Coming can range between 380 to 550 Points  and if goes more we have possible scenario of Retracements or may be reversal.

Keep Counting Numbers…

Till then Happy trading…

If you have any view can comment below.

Chart Updates on Telegram Channel :-

Nifty And Banknifty Turning Points (ARZ)

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NIFTY MOVEMENTs – 20 JAN

As per our VSR for 20th JAN we given in trading PLAN we have stated that NIFTY VSR 1st level is 6241.

 

10.15 AM----

Nifty SPOT made LOW at 6243.35 and Currently trading at 6268 so its around 25 points given from our VSR level 1.

10.29 AM---

Nifty Spot moved to 6303 level where we mentioned we would prefer to go Short.

Current high made by Nifty is 6304.05 Lets see how our shorts work from here.

 

11.47 AM ----

We shorted at NIFTY SPOT LEVEL of 6303  and NOW NIFTY SPOT is trading at 6287

Our short is working in its direction……..

 

1.07 PM ----

Our Short 50% booked around 6275. and for Rest stop loss now trailed to 6302 (FUTURE PRICE)

 

1.32 PM -----

Our TSL for rest 50 % hit at 6302(FUTURE).

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Nifty Trading Plan –20th Jan

TraderAdda TRADING PLAN

INITIATIVE:-

Traderadda is Starting a INITIATIVE of POSTING daily NIFTY TRADING PLAN starting from the 20th JAN Trading Session.

• This will consist of Visual Support and Resistance Levels. These are very Special levels which are focused for taking positions in INTRADAY and also for POSITIONAL Trades.

 

• At these levels we see the Behavior of the NIFTY on Charts and based on it we can enter here.

 

• These levels Provides Very GOOD REWARD/RISK RATIO.

 

TraderADDA VSR (Visual SUPPORT and

RESISTANCE) Levels for 20 th Jan:-

• Larger Trend is UP and Short term trend is Down. So to capture this Short term Trend Opportunities we think that if we get NIFTY again around 6303 then one can go short here. Those who have missed the short on 6340 can make entry here.
• We feel that markets may take supports at around 6241 or 6222 levels for time being.

 

POSITIONAL LONGS ABOVE 6340 ONLY

CURRENT STATUS :-SHORT FROM 6340.

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Nifty Is Still in Bullish Mode???

After a very surprising huge rally of more than thousand points in Nifty, it is in little correction mode. But after today’s closing it seems that Nifty will be Bullish throughout this year provided it does not breaches 5217 which is the high of the January. Many retail investors missed this rally as they were not believing on it.  So one can buy on dips till 5217 on Nifty is not taken out.

Reason One February Closing :-

• As per a data from many previous years it has shown that Januarys high when taken on monthly closing basis Nifty is always managed to rally throughout the year and vice versa.
• So January month high is 5217 and February closing is 5385.20 which is well above January high so there is a possibility of this year as bullish for Nifty. So only buy on dips whole year till 5217 is not taken out on monthly closing basis.

Reason Two Broken Multi Month Falling Trendline:-

• See below chart which is monthly chart of Nifty which is showing strength by closing it above the trend line which is not broken for last 15 months. So this is very strong sign of bullishness.

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Demand and Supply Zone For Nifty- 13 Feb

Nifty is showing strong Supply above 5400 supported by foreign market cues. As US and EU markets closed in RED if Nifty follow them then there may be possibility of much awaited correction. But be cautious while in shorts as very strong buying is seen by FII’s in cash.

Demand and Supply Zone For Nifty:-

• As shown in the chart Strong Supply is seen at 5398 to 5415 levels. If Nifty breaks this then upside is possible provided it breaks also Friday’s top.
• For Last week Strong Demand is seen in the area of 5338 to 5322 Zone. If this area is broken then downside is possible.
• Second level of Demand Zone is Near 5275 to 5287 Zone. This Zone may show strong Demand. If above level is broken.

Will update in market hours when needed.

Click Chart To See in Full Size.

Update at 1.45 PM on 5 min Chart

• Demand area is Going Up yesterdays demand zone’s upper limit become today’s demand area. Supply is still intact. Both sides need to be watched.

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Demand Supply Chart Update

Yesterday we have posted our Demand(Support) and Supply (Resistance) Chart for Nifty. Clearly mentioned there that we have bought in that area and see it given again more than 40 + points when updating this article.

Check first article given chart of Demand and Supply

article Which tells----

• About Strong Demand area at 5326 to 5316 area and one can buy with SL of 5293 and we bought at that area.
• Also price is near DHEMA 5340 and near our AMF value 5319.
• Strong Supply Zone (Till it doesn’t get broken) at 5390 to 5400 area.

See today’s updated Chart at 11.10 AM Which shows

• Nifty heading towards our Supply Zone of 5390 to 5400 (Till it not broken as this is strong uptrending market can be broken any time)
• We will book part profit near this area.

Chart Update At 2.15 PM

See how prices behaved from Supply Zone.

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Nifty Demand and Supply Analysis for 8th Feb

Nifty Demand(Support) and Supply(Resistance) analysis:-

• Nifty is having strong demand at 5326 to 5316 Zone, We have bought at this zone with Stoploss of 5293.
• Nifty is having Strong Supply at 5400 level…. but as this is uptrending market shorts should be done only with tight stoploss. If this is broken then more upside is possible.
• Nifty Closed below its DHEMA 5340 … so in strong uptrending market buying can be safe below DHEMA … risk reward ratio is very good in favor of buyers.
• Nifty is also My AMF  value 5319 so can be good buy provided supported by US and EU.

Check Chart below….which shows DEMAND and SUPPLY ZONES

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Nifty EOD Update- Nifty at Crucial Level ,Make or Break

• Nifty Today opened gap up and at end of day revisited to support line of developing channel.
• Red Trendline has given support at many times to Nifty it has also came at the same zone.
• Tomorrow's move will decide trend of Nifty. Possibility of ST reversal from 5130 to 5120 level.
• Buying with small SL of 20 Points (or 5000 NS) can be good reward giving trade.

 

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Nifty’s Possible Developing Channel

• Nifty has taken support at Lavender line (5143) on Friday.
• There is possible developing channel which (on Friday Nifty not given single hourly close below it.) may come into action if Nifty does not break channels lower line (5130 may be the level to watch for downside)
• If Nifty does not break the lower line then it may head towards upper line where there is resistance at 5290.( If broken then uptrend may be there.)
• Even Hourly Stochastic is in Oversold Mode.
• So we can see better selling opportunity around 5290 levels and buying near 5140 to 5150.

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