Index Analysis for 30-May-24

NIFTY
BANKNIFTY

#NIFTY & #BANKNIFTY 30 Min Chart Analysis (30-05-24)

🔹Trend: Big Bull Channel.

🔹Swing :- Down Swing

🔹View: Down Move Continuation after a minor trendline retest.

Let's See the correction for this week and then before the election results we have to reevaluate according to the Event.

🔹As of now Both indexes are aligned with each other,

👉PCR :- NIFTY:- 0.65
BANKNIFTY:- 0.63

⚡️Both Index Major Levels are marked on the chart.


Check out the structure on the chart and mark these important levels.

Always use stop to avoid unnecessary drawdowns.

Keep Learning,
Happy trading.

Commentaire:

Keep an eye around the 22600 zone its a 0.382 fib retracement level, a golden ratio for strong trend reversals.

Market is falling does not mean it will move in a single direction for too long cause the market moves in trends and trends move in wave-like structure.

Commentaire:

Nifty Moved as per expectation but the Bank nifty played with the emotions and stucked inside a range. It is Likely to move in next session.

Commentaire:

Down Moved as per the post for 31st May it should Continue the down move.
All levels are marked on the chart.

Commentaire:

If perfection had a face it will exactly look like this updated chart.
Exact Reversal from the resistance level make a strong short trade.

Commentaire:

#NIFTY50 30 Min Chart Analysis for 03-JUNE-24.

✔️TREND : Down

🔹View: Formed a INSIDE BAR due to election results ahead, traders anticipating the no. Of seats government will score.

🔹Structure :- Small range in down swing, now view is Neutral as we need a breakout in either direction.

🌐GLOBAL:-DJI recovered in last session & Nasdaq closed Flat. 📰

👉PCR :- 0.76 from 0.82( declined a bit)

👉OI :- Heavy calls Written at 23000 followed by 23500.

22400 to 22650 is a Area Of Balance no trades.

👉FII DII:- Only Retailer are bullish and DII are mildly bullish.

⚡️⚡️Outlook:- Looks Flat as of now we can trade the direction of breakout after a confirmation only. Cause traps will be alot.

❓Why Traps :- The Bullish view is in everyones mind as of now but who will sell if everyone is buying in this condition traps keeps messing with your mind and make you do mistakes.
Detailed analysis on chart Study it and mark levels on your chart

Commentaire:

#NIFTY50 DAY Chart Analysis for 04- JUNE-24.

🔹View: In last session the trend is turnaround by the Huge Gap up and closed above the channel resistance.

🔹Structure :- From last one year price was moving in a range finally it has given a breakout.

🌐GLOBAL:-DJI recovered in last session & Nasdaq close flat. 📰

👉PCR :- 0.89 ( Increase)

👉OI :- Heavy calls Written at 23500 followed by 24000.

👉FII DII:- Yesterday good Cash Inflows by FII.

⚡️⚡️Outlook:- Loksabha Results day Mild bullishness.

Detailed analysis on chart Study it and mark levels on your chart