m2gud

NIFTY 50, 1D, RISE AND FALL, CORRECTION IS NEAR

NSE:NIFTY   Nifty 50 Index
Given:

NIFTY 50 : P/E = 34.73 :(

STOCH RSI = OVERBOUGHT :(

Nifty 50 is currently all time high. :)

Trend-line Resistance is at near 13200 level and also GANN Static level is at 13000 - 13225.

Trend-line support is at near 12460 level

Also noted, there is a support zone at same 12460 level on Weekly time frame, which makes it a strong support level .

MY ANALYSIS :

NIFTY50 may immediately touch 13100 -13200 level and retrace back to near 12460 - 12500 level and then goes up and move in a Channel.

Comments

Hi Sir, how do you filter / find the trending equity stocks and which time frame apply for these stocks selection.

Also pls suggest the best time slot for intraday trading using support nd Resistance level.
+1 Reply
m2gud honeyrr25
hi @honeyrr25, First of all I start with analyzing OPTION CHAIN of nifty, then select top gainer/looser stocks from NSE website, then look for price action like trendlines, chart patterns, candlestick pattern.Put them in my watch list and patiently wait for breakout/breakdown.

Best time is subjective: but for me If do intraday, i do it only 9:30 onwards till 11:30.

If you have any other question , do ask me, I'll be happy to help you. all the best. :)
+1 Reply
honeyrr25 honeyrr25
@m2gud thank you so much for your valuable feedback. I will analyse the above logics for stock selection.
Definitely i ll ask you if I come across any queries.
Please keep sharing your views in trading view.. :)
+1 Reply
m2gud honeyrr25
Reply
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