Markets:- How to Trade Nifty on Wednesday?

Moneyites April 29, 2020 No Comments

Nifty Tips:- The NSE main index Nifty 50 extend gains by 98.60 points or 1.06% to close at 9380.90 by the day end on Tuesday. The Nifty index opens on a positive note and hit the level of 9400 as mentioned in the previous report but fails to hold the gains, drop to the days worst level of 9260 before finally managed to close in green after giving up some morning gains.

Day Trading Plan:- The Indian benchmark index Nifty 50 set to start the day on a flat to a positive note. The Nifty index is trending positively and just shy of 9400. The index near the edge of the resistance level and if manages to hold above it, a long position can be initiated in Nifty Future or Buy Nifty Option of 9400 call strike price for the given target. Whereas below 9400 levels some profit booking cannot be ruled out so a viceversa entry can be made.

Nifty Support and Resistance Level:- The index has immediate resistance at 9400 above this it may test the level of 9470-9540 to the upside. Whereas it has nearest support at 9330 below this it may drop to the level of 9265-9200 to the downside.

Nifty Tips

Also Read:-Markets:- How to Trade Nifty on Tuesday?

Markets:- How to Trade Nifty on Tuesday?

Moneyites April 27, 2020 No Comments

Nifty Tips:- The NSE main index Nifty 50 surged by 127.90 points or 1.40% to close at 9282.30 by the day end. The Nifty index opens on a positive note as mentioned in the previous report and rose sharply thereafter to hit both the resistance level to the upside. In addition to this, there is also a selling opportunity from the resistance level of 9400.

Technically, The Indian benchmark index Nifty 50 may open on a flat to positive note on Tuesday. The Nifty index has held the gains and trading with the positive biases in today’s trading session may head higher to retest the level of 9400 if continue to sustain above the immediate support level of 9240. Whereas below the level of 9240 it may trade mixed.

Nifty Support and Resistance Level:- The index has immediate resistance at 9330 above this it may retest the level of 9380-9460 to the upside. Whereas it has nearest support at 9240 below this it may drop to the level of 9160-9100 to the downside.

Nifty

Also Read:-Markets:- How to Trade Nifty on Monday?

Markets:- How to Trade Nifty on Monday?

Moneyites April 27, 2020 No Comments

Nifty Tips:- The NSE main index Nifty 50 shut shop in red after the loss of 159.50 points or -1.71% to 9154.40 in the last trading session of the week. The Nifty index opens gap negative as mentioned in the previous report and traded with the negative sentiments thereafter by the day end.

Technically, The Indian indices Nifty 50 may take a positive start for the week. The Nifty index is trading in a range of 8900-9400 and either side break out of this trading range may set the future direction in the coming time. Until then buy low and sell high strategy may be deployed.

Nifty Support and Resistance Level:- The index has immediate resistance at 9230 above this it may retest the level of 9290-9350 to the upside. Whereas it has nearest support at 9110 below this it may drop to the level of 9040-8930 to the downside.

Nifty

 

Also Read:-Markets:- How to Trade Nifty on Friday?

Markets:- How to Trade Nifty on Friday?

Moneyites April 24, 2020 No Comments

Nifty Tips:- The NSE main index Nifty 50 ended in green after adding 126.60 points to 9313.90. The Nifty index opens gap positive 45 points and keeps the gaining momentum to continues throughout the day.

Technically, The Indian indices set to open flat to negative taking cues from their Asian peers. The Nifty index rose sharply in its last session get closer to its ascending trendline resistance. The Nifty index has the next crucial resistance at 9400 levels, which set to describe the future course of action. In Nifty index, some profit booking cannot be ruled out at this level and fresh long position only above 9400 levels.

Nifty Support and Resistance Level:- The index has immediate resistance at 9340 above this it may test the level of 9410-9530 to the upside. Whereas it has nearest support at 9230 below this it may drop to the level of 9130-9050 to the downside.

Markets:- How to Trade Nifty on Thursday?

Moneyites April 22, 2020 No Comments

Nifty Tips:- The NSE main index Nifty 50 advance 205.85 points or +2.29% to close at 9187.30. The Nifty index opens gap up by 45 points but reveres back to mark the day low of  8946 before closed in green. The two positive events 1) Additional Relief package from US govt and 2) FB investment plan of $5.7 Billion in Reliance Jio enforce the bulls to then take the charge and after breaching the resistance level of 9040 it further touch the daily level of 9105- 9190 as mentioned in the last report.

Volatility index– The VIX dropped by -5.25% to close at 42.82 in intraday trade.

Coronavirus Update:- The number of novel coronavirus cases increased to 20,471 in India and the death toll reached to 652 by Tuesday evening, Whereas over 2.5 Million people infected and more than 1,78,800 deaths reported worldwide from COVID-19

Technically, The price action bounced back from the support line and forms a bullish candle. The Nifty index continued to trade in a rising wedge pattern and if manages to hold above the support line, it may show more upside in the coming time.

Nifty Support and Resistance Level:- The index has immediate resistance at 9230 above this it may test the level of 9320-9430 to the upside. Whereas it has nearest support at 9090 below this it may drop to the level of 9030-8930 to the downside.

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Nifty

 

Also Read:-Markets:- How to Trade Nifty on Wednesday?

Markets:- How to Trade Nifty on Wednesday?

Moneyites April 21, 2020 No Comments

Nifty Tips:- The NSE main index Nifty50 shut shop at 8981.45 after the loss of -280.40 points or -3.03%. The Nifty index opened gap down around 250 points as mentioned in the last report and tested the support level of 8900 by the day ends.

Volatility index– The VIX surged by +4.01% to close at 45.20 in intraday trade.

Coronavirus Update:- The number of novel coronavirus cases increased to 18,985 in India and the death toll reached to 603 by Tuesday evening, Whereas over 2.43 Million people infected and more than 1,70,000 deaths reported worldwide from COVID-19

Technically, The bears took the charge and looking in a hurry, paves the way for Gap down opening on Wednesday also. On the basis of correction we had witnessed in the last two day, Wait for some bounce back to sell or sell below the support line are two possible options based on risk appetite.

Nifty Support and Resistance Level:- The index has immediate resistance at 9040 above this it may test the level of 9105-9190 to the upside. Whereas it has nearest support at 8910 below this it may drop to the level of 8820-8720 to the downside.

To subscribe to our Nifty Option Services click:-https://moneyites.com/nifty-option-tips/

For more information like this on stocks and indices before the market opens follow us.

Send your queries on [email protected]

Due to COVID -19 Pandemic, Some of your Queries and emails are unanswered. So please DM on our Twitter and Facebook page or DM on our Telegram channel stocks2trade to get quick response.

Nifty

Also Read:-Markets:- How to Trade Nifty on Tuesday?

Markets:- How to Trade Nifty on Tuesday?

Moneyites April 21, 2020 No Comments

Nifty Tips:- The NSE main index Nifty50 had shown a strong gap up opening of 125 points in the morning trade but failed to hold the gains taking pinpoint resistance from the level of 9390 as mentioned in the previous report. The Nifty index then traded choppy throughout the day and closed in the red by the nominal losses of -4.90 points to 9261.85.

Volatility index– The VIX gains modestly by +2.03% to close at 43.46 in intraday trade.

Coronavirus Update:- The number of novel coronavirus cases increased to 17,656 in India and the death toll reached to 559 by Monday evening, Whereas over 2.4 Million people infected and more than 1,70,000 deaths reported worldwide from COVID-19

Technically, The Nifty index may show gap down opening on Tuesday taking cues from the global market and continues to trade in a range.

Nifty Support and Resistance Level:- The index has immediate resistance at 9335 above this it may test the level of 9390-9450 to the upside. Whereas it has nearest support at 9220 below this it may drop to the level of 9115-9040 to the downside.

For more information like this on stocks and indices before the market opens follow us.

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Nifty

Also Read:-Markets:- How to Trade Nifty on Monday?

Markets:- How to Trade Nifty on Monday?

Moneyites April 20, 2020 No Comments

Nifty Tips:- The NSE main index Nifty50 had shown a strong gap up opening of 330 points in the morning trade but soon corrects down on account of gap filling and marks the day low of 9091.35. The Nifty index then pulls back from the day low, as bulls took the charge and finally added 273.95 points to close at 9266 in red by the day end.

Volatility index– The VIX drops by -7.60% to close at 42.59 in intraday trade.

Coronavirus Update:- The number of novel coronavirus cases increased to 16,116 in India and the death toll reached to 529 by Sunday evening, Whereas over 2.38 Million people infected and 1,65,636 deaths reported worldwide from COVID-19

Technically, The Nifty index is heading higher and if manages to hold above the level of 9400, it may show more upside to the level of 9800-9900 in the coming time. The bulls are in charge as the index is already up around 23% from the low 7511 and if manages to hold above the support level of 8900-8500, the rally to continue.

Nifty Support and Resistance Level:- The index has immediate resistance at 9320 above this it may test the level of 9390-9450 to the upside. Whereas it has nearest support at 9220 below this it may drop to the level of 9115-9040 to the downside.

For more information like this on stocks and indices before the market opens follow us.

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Nifty

Also Read:-Markets:- How to Trade Nifty on Friday?

Markets:- How to Trade Nifty on Friday?

Moneyites April 16, 2020 No Comments

Nifty Tips:- The Indian benchmark index Nifty50 ended in green after a negative opening. The index added 67.50 points or +0.76% to closed at 8992.80 in intraday trade. The nifty index opens gap down by 75 points and found support near its first support level of 8800 in the morning trade as mentioned about further weakness to continue in the last report. The index then recoups losses after bounced back from the support level and closed in the green.

Volatility index– The VIX drops by further -7.66% to close at 45.93 in intraday trade.

Coronavirus:- The number of novel coronavirus cases increased to 12,759 in India and the death toll reached to 420 by Thursday evening, Whereas 2.0 Million people infected and 1,34,000 deaths reported worldwide from COVID-19

Technically, The index forms a small bullish candle after weak opening in today’s trading session. The index trading near its crucial resistance zone of 9200-250, which set to decide the future moment of the index in the coming time.

The index has immediate resistance at 9040 above this it may retest the level of 9110-9210 to the upside. Whereas it has nearest support at 8955 below this it may drop to the level of 8890-8800 to the downside.

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Nifty

Also Read:-Markets:- How to Trade Nifty on Thursday?

Markets:- How to Trade Nifty on Thursday?

Moneyites April 16, 2020 No Comments

Nifty Tips:- The Indian benchmark index Nifty50 ended in red, down by -68.55 points or -0.76% to 8925.30 on Wednesday trading session. The Nifty index opens gap positive 200+ points in the morning trade but sharply reversed and marks day’s worst level of 8874.10 before the final settlement.

Volatility index– The VIX  drops by -3.35% to close at 49.74 in intraday trade.

Coronavirus:- The number of novel coronavirus cases increased to 11,933 in India and the death toll reached to 392 by Wednesday evening, Whereas 2.0 Million people infected and 1,28,000 deaths reported worldwide from COVID-19

Technically, The index forms a bearish engulfing candlestick pattern on the daily chart signs weakness to continue. The index gives a false breakout above the resistance level of 9200 and it is now lingering at the support level of 8900.

The index has immediate resistance at 8960 above this it may retest the level of 9030-9110 to the upside. Whereas it has nearest support at 8900 below this it may drop to the level of 8800-8695 to the downside.

For more information like this on stocks and indices before the market opens follow us.

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Also Read:- Day Trading- MRF