Resistance Level : 1. Good Resistance Zone exists at 35200-300. 2. Strongest Resistance at 35000 . Support Level : 1. 34000 is Strongest Support Level . 2. Good Support at 34300. 3. 34500 can act as good Support.
Sideways Possibility: More Sideways below 34500 to 34700, if market sustains above 35000
Trendlines : Sell below Red Trend Line . Buy above Red Trend Line .
This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market.
I hope you all like my analysis. Please do share your thoughts into comment section. Please hit the Follow button to get the regular analysis. Please give a like, it motivates me to do analysis and do share with your friends as well.
Sorry dear, i never gives calls or tips to anyone ... then what would be the difference between them and me ... i am sharing my analysis so that traders should learn first and then earn .... even as a retail trader ... i have gone through all these phases ... almost all traders do go through these phases ...
Market is more of mind/psychology game.
More you think of recovering loss, you will be into more losses.
Think of taking good trades and you will end up in to profits.
I am posting simple and effective learning along with the levels , you just need to follow them.
Sometimes if my analysis may go wrong but as i always say ... stick to the basic rule : Follow the market ... you will not be losing side.
Just read the experience share by one of my follower Bhagyalatha in last post ... based on the explanation of How to take trade in Banknifty on Doji CandleStick formation .... she followed the simple rule and earned 15,000 ...
I did not give tip or anything ... just made you all people understand simple concept of Doji Candle.
On the same post read what Sumeet has written ...
Do not worry .. just spend little more time on learning RIGHT things you will start earning good profits.
One more thing .. if you spend time for the market and learn ... it would be a life time learning for you .. no need to depend on others ...
Harshaputtangoudaru
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@kiranrshinde, do you have any YouTube channel regarding learning ,like what is the base of knowledge in analysis
vishug1971
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@kiranrshinde, Sirji, your responses with clear note indicates the pain you have been went through while learning probably we are passing through those channels right now big losses with small profits , certainly your advices are are minimising our trail & errors in the market and following with your valuable teachings,
We are blessed with Guru like you who is selflessly helping us from restricting our thinking randomly and jumping in to the trades
Even though with your clear messages I have done mistakes by attempting wrong trades and paid for the same.. after my errors , I revisited to your advices and notes and found my mistakes
Thank you so much for the feedback ... such feedback pays-off my effort and most precious time that I am putting here ...
I feel very much happy to see such feedback and experience shared by you and all my followers ...
I know the pain of loosing the hardcore earned money ... so it's my kind request to all of you .. please share your experiences so that others can learn form your experiences and mistakes as well... I alone cannot help all our retail traders ... if you all feel that you do not have knowledge but you can at least share with your friends ... may be they might have good technical skills than me and can correct me or even guide you, if I am wrong.
kvsaheed
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You did it again. Your support and resistance level are respected precisely
Sir ji. Need some clarification with my understanding hope I am not bothering you but as a student I need to know and correct myself 34480 (red trend line) is the level from where I should have taken the trade for up movement is that right
At 5 minutes chart having barish candle having 2/3 of wick indicating buying pressure with the consecutive bullish momentum candle (without any wicks) indicating strong buy, orders are getting filled, if taken trade near 34480 and 35000 was it correct. Please explain.
Considering 5 min time frame : As per the Red Trend Line available on my chart, i.e Resistance Trend Line was broken at 2.25 pm with big Green candle.
Here, most important point to consider is that the distance between Trend line and Strong Support at 34500.. is very close ... i.e when market was moving upside it has to face 2 resistance one after the another ... so it is risky to take trade at such point ... why ...because.. as we see always that when a Support is broken it acts a Resistance and same we can see at 34500.. more Safer trade was to take after 34500 was broken ... after 3.10 candle ... which was confirmation candle ... which formed the inverted hammer ... which is bullish...
I would suggest not to take trade after 3.00 pm as most of the time, volatily is too High and all of sudden the trade can go either way .. just to give an example see previous days movement from 2.40 pm ... Specially avoid such trading on Expiry ... why ... Premium Decay ... is too high and very dangerous for Option Buyers.
vishug1971
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@kiranrshinde, thanks for your updates sir ji, it is a great experience with your teachings, I may interpret the charts on regular basis to get more knowledge from you, love to learn from you , I will keep disturbing you for the thirst of knowledge, I know rest falls in place when equipped with proper learnings