BNF may trade in a zone of 22750 to 21900. Breaking the lower zone of 21900-21800 will lead to 21600-21500. Upper zone of 22750-22850 would be acting as resistance. Breaking 22500 and sustaining above will change things completely for a target of 22700, 22900 & 23000.
I come across many times when people fall in trap when they see breaking of long term support or resistance in intraday by merely seeing on small timeframe (TF) like (1-5 mins). I suggest those friends to wait for the confirmation of such breakout on higher timeframe like 15-30 minutes atleast. In this example I would like to make you understand this psychology...
Dmart broke out from H&S pattern + is was forming a triangular pattern.
SUPPORT AND RESISTANCE BREAKOUT AND RETRACEMENT
Banknifty has broken its range bound structure which started on from 9th september.
Currently sitting at a support zone of 22280-22300. Break below this can take us to 22090. Above 22300 we have 22505, 22650. Have a look on the chart for the support and resistance levels. Share your opinion in the comment section below, and like and follow for daily market analysis ! Professional Trader | Experience: 2.5 Years NOTE: The above mentioned views...
Break of 11510 support, will lead to a fall towards 11450, 11370. Bounce off from 11510 support will lead to 11565, 11612. Have a look on the chart for the support and resistance levels. Share your opinion in the comment section below, and like and follow for daily market analysis ! Professional Trader | Experience: 2.5 Years NOTE: The above mentioned views are...
Stocks whose camrilla pivot getting narrow are high probable setup for breakout trade. Ensure confluence of : 1.Day's H3 and L3 inside previous day 2.Narrow range H3 and L3 3.range of H3 and L3 getting narrow in consecutive days 4.Volumes coming in DM me for chartink scanner for selecting such stocks previous day.
Price may find hard to move beyond the SUPPLY zone. It may retest the DEMAND zone ~11300-11200. After clear accumulation, price will move up. Gap created on 4-Sep may be filled. For week Sep14-17: UPPER ZONE: ~11500 - 11600 LOWER ZONE 1: ~11300 - 11200 LOWER ZONE 2: ~11000 - 10900
Price tested H3 levels of Camrilla pivots . H3 levels are uptrend reversal levels when in confluence with multiple resistances confirmation. L3 is another trend reversal pivot , which got crossed by volumes and wide range candles. H3 to L3 and vice versa trades occurs frequently.
Most traders have difficulty to trade, though they do analysis previous day. Gap up or gap down confuses them. So how to trade? During market hours the emotions are high. At that time you wont find the support & resistance properly. Thats why you are pre planning your trades. So when the market gives you surprises, you will be ready for it. In my axis bank ...
Price may retest the DEMAND zone and will fill the gap created on 21-Aug. It may be side wards for a couple of days as the volume is clearly accumulated at lower price (~22250-22300) by big players. I guess price may be lowered further and clear accumulation may happen. If the trend line (Green line) breaks then the next DEMAND zone would be (~21600-21700). Every...
This educational idea shows how to use Fibonacci tool properly. It also shows how to achieve maximum probability while using the tool.