Bank nifty breakdown and retest done we can trade for next TGTs.
My level: 22.80 Why: Prior monthly and support Notes: I know its way down there but I’m going off of how it traded today, super heavy; numbers seemed okay to me as well.
My level: 127.50 Why: Support area, prior low, 50D Notes: It has been a strong name and there’s a confluence of indicators in this area.
My level: 45.20 Why: Previous support, bouncing off this level Notes: I have been following this name, it has held $45 pretty well. If it breaks through 45.20, 44 is the next level
My level: 73.10 Why: monthly pivot, quarterly pivot Notes: Its a strong name, just above the monthly pivot, closed on low, have to believe it will come in a little bit more, 2.4ATR should get it down to 73s or so.
My level: 86.10 Why: Monthly pivot, prior consolidation Notes: Little bit of prior resistance which means new support. Closed close to lows, lets see if it holds 86.10 and makes another leg up.
My level: 63.10 Why: Previous low, 50D Notes: nice move from 59 to 68, nice retrace and bouncing off the 50D. Decent ATR as well.
My level: 49.70 Why: strong name, prior low, annual pivot, prior monthly pivot Notes: The name was super strong. I’ve been watching this name and have it on swing.
Curl on the daily, numbers look good in my opinion. Been holding a $70 area. Prior resistance shows it has to close the gap
My level: 25.60 Why: Numbers/financials good in my opinion. Annual pivot and support. Notes: Down about 1.5pts when it closed, there is a lot of support at 25.60.
Just want to see if early weakness into mid 31s-32 starts to hold as support. If it does and the volume isn’t dismal, I may look to scoop in anticipation of an eventual push back over 33.7 to send a bunch of shorts scrambling.
I like where this pullback from the highs has shown the ability to hold. It’s just a nice retest of the breakout from the 9 month long base that was built from Dec.’20-Aug’21 as well as the psychological 100 level. Will look for an early wash off the open to snag some in the 103 area where we have the quarterly pivot plus a retest of last Tuesday’s highs.
Like this name a lot and think that the 50d/annual pivot area around 135 offers a high probability area to scoop for a bounce. I like the range on this name and I like that it respects a lot of the levels really well.
Still really like this weekly chart for a swing. Reminds me a lot of the $DISH chart with the big cup and handle forming. Just trying to position in there on dips so that if this decides to start making that push I can scale into the swing. Looking for a weak open and scoop opportunity around 82.9 which is close to the monthly pivot and the 61.8% retrace from the...
Financials still look extremely strong as well, making higher lows and higher highs. Pullbacks can very well offer long opportunities. We also may get some extension on it, since we just broke out. Depends on the overall market though, but the weekly chart looks great on this
This chart obviously looks very similar to the $ES. We briefly breached the 14400 level but quickly reclaimed it. But since then the push back into the underside of the 20d have shown strong resistance. And is it really any surprise? You have the quarterly/annual/monthly stacked pivots all in that same area as well as the psychological 15k level. What I would like...
It’s very important to always identify which timeframes we are extended on and which ones we are not. I do this by asking if we are extended from the 20sma or are we right on it? If we are far away from the 20sma, to me that signals that we are extended on that timeframe. It's pretty obvious on the monthly timeframe we are extended. Yes, there is substantial...
Tech has pulled back to areas of support and I will be watching to see if the recent lows hold from here. If they can, we may be able to put in a nice base here and have the potential for some nice longs in the sector.