Nifty - Technical - PossibilitiesThree possible reversal levels are Shown in the chart
1st it needs to breakout the descending channel Resistance level
2nd it needs to break Fib 0.5 retracement level + Failure line of head and Shoulder pattern
3rd it needs to breakout the ascending channel resistance
Before moving 10600 levels nifty might retest the ascending channel support...
Global cues and Covid- 19 cases in India and 2nd Wave of Covid-19 also gives strong resistance to the markets...
Like and give u r opinion..
Analysis is for educational purpose..
A-trend
HEXAWARE Inside Bar BreakoutHexaware on daily time frame has formed DOJI for the last 2 days with the latest candle contracted inside the previous.
The doji indicate uncertainty in the price, hence trade the breakout of the inside bar in either direction.
Long above 330.05
TGT 1: 335.45
Short below 311.30
TGT 1: 306.55
TGT 2: 300.05
NOTE: Trade with confirmation of momentum & volume on lower timeframes in intraday.
BAJAJ AUTO Bearish BreakoutLatest daily time frame candle showing a small body and small range hinting at a pullback.
The downtrend followed in the past few days may continue below the the previous low.
Short below 2703
TGT 1: 2664
TGT 2: 2615
NOTE: Trade with confirmation of momentum & volume on lower timeframes in intraday.
FDC ltd (A good candidate to long) Stock is in uptrendAfter the downfall stock is continuously giving positive move and there is strong upside move.
It is facing resistance to hold above 255 level but soon breakout possible if you catch it on lower trend line grab it.
Positional call
Buy @250 - 255
Target 1- 260
Target 2- 265
This trade is given for short term(Swing traders)
SMALL INVESTORS BACK TO THE MRKT IN 1ST WEEK OF JULY & TRAPEDI NOTICED THE INTERSECTION OF TREND LINE TELL THE DATES OF TREND REVERSAL, AS BIG PLAYERS TEND TO FOLLOW THE GANN CYCLES
AND THE TECHNICAL ANALYSTS DRAW PLAN WHEN TO EXIT AND ENTER BASED ON THE DATES .
EVERY THING IN A PRE ARRANGED DIAGRAM FOR EXAMPLE WHAT WE USED TO DRAW A PLAN WHILE BUILD A HOME WITH UTMOST CARE
Target level for SBIN is 178 (Positional call)You can make your entry now confirmation of downtrend has ended and stock is about form new uptrend.
Buy @170 and if it takes support on the provided support line you can also average your position.
Short term target looks to be around 178. Positional traders can go long with this trade for sure.
I took entry at 160 and looking forward to the target.
How I earned 10% profit in one dayAfter forming lower high and lower low several times in the chart downtrend was conformed and I kept eye on the stock.
On 28th of May in the last 2 hours, the one-hour candles were formed above the trendline and I was expecting a positive movement after the second health bullish candle above. The second conformation was RSI getting stronger and the gap up opening and it was a strong sign to be in the trade.
It was purely price action based strategy banged on target.
On that second candle, I entered into the trade and I nearly earned approximately 10% of profit in just a day.
GMM PFAUDLER buyers should wait for some correctionAfter the pandemic of COVID-19, this stock has recovered amazingly and it is in a clear uptrend.
In the daily chart frame, we can see this is in the consolidation phase and there should be some correction remained in the stock. Personally I feel like the stock is quite overvalued in the current situation. If it takes support on 3408 levels and bounces back I suggest you see the chances for buying opportunities at that level.
BPCL vigorous stock for invest in......!!!!For long traders it is advisable that maintain stop-loss 311 nearby and trade. The stock is showing that it will move in a up direction.
----30 min chart----
For short term traders it's a big question is it a break, or price will fall down?
Answer is if price cross 323.5 level it will be conform that the stock is going for up-trend after breaking the down trend and make a new channel.
ACC Ltd- Neutral
ACC Ltd – Stock Review (Neutral)
ACC Ltd gave a small rally from 940 level, however prices failed to sustain above resistance level of 1216. From last few days, prices are range bound and has been moving in a range of 1101 to 1206. Even today, the stock witnessed selling from its resistance trend line & closed just below it. The overall trend for ACC Ltd still remains on the negative side. For the next few days, the stock is expected to trade in the above range with lower upside. If prices break the support level of 1101 the stock can further fall till 960-950 level.
Indicators-
Moving average – Neutral
RSI – Slightly Positive
PVR Looks Weaker (Target of 700 Levels)PVR Looks Weaker and there is a chance to go 700 Levels. RSI also Less than 50. Main Support at 921 if breaks out further down. Stop loss at 1058