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AB=CD

HERO MOTORCORP - BULLISH ABCD AND BAT PATTERNSHero Motorcorp is at an important demand zone. If the price bounces off of this zone, then consider taking a long position. However, due to bad results if the price manages to slip below the demand zone, then open a short position. The XABCD Bat pattern is already activated, if the price manages to stay above the demand zone, then we could see target B (2781) Similarly, the ABCD pattern starts to form if the price closes below B (2636), the loop will close at the D (2506). Please understand the logic and trade accordingly. Happy trading :) This is just for educational purposes.
NSE:HEROMOTOCO
by Sanjan91
BANK NIFTY AT A SUPPLY ZONE. DEPENDS ON THE RESULTS.Bank nifty is near its swing high, it may take a correction or take out the supply zone with the short covering moves. Here we analyze the PSU bank index, Private bank index, and ICICI bank to see what could be the scenario on Monday. Today, we have ICICI bank's results which decide the Bank Nifty's run. In the above image of the PSU bank index, we can see that the breakout has yet to happen. The breakout point is B. The supply zone is also 5% away from the breakout point. Anyways, the PSU bank index won't be of much help as PVT bank contribution in Bank Nifty is nearly 87% and SBI alone from the PSU bank sector contributes nearly 12.5% Out Private bank sector, ICICI is the second-highest contributor with nearly 21%. It is important for us to know where the PVT bank sector index and ICICI bank are standing right now. In the above image of PVT bank index, we can see it is almost at the supply zone. It is very critical to have good results or else shorts could enter here. Here's the ICICI bank index, it is trading above the monthly crab pattern's terminal price. Here it could be dangerous either for the longs or shorts. A rapid movement could come in any direction. ICICI results could play an important on Monday but there would be other private banks that could cover the loss by reaching the expectations in case ICICI fails. This is just my analysis and for educational purposes.
NSE:BANKNIFTY
by Sanjan91
Bitcoin USDT price action analysisHere's the Bitcoin Usdt Perpetual weekly timeframe chart analysis. As the price is near the PRZ/supply zone set by the ABCD pattern, price action also seems to form a shooting star at the top of the supply zone. This could be an early sign of exhaustion in the momentum and the price may correct further until the 53k-51k before another rally. However, if the price crosses the 67K mark we can see the uptrend to be resuming again. Happy trading :) This is just for educational purposes.
by Sanjan91
HIND COPPER PRICE ACTION ANALYSISThe hind copper stock price has been falling heavily since it reached the ATH mark. However, the time has come to buy the stock based on the following reasons. 1) The demand zone is created by the ABCD pattern 2.24 and 2.414, the price bounced off this zone with huge volumes. 2) The price is near the 200EMA line, which is 117.17 currently. 3)The RSI is making the higher lows and is above 50. 4) The company's profits are increasing but the price keeps falling. The risk-reward near this zone is attractive. We can keep a stop loss at 99. The target could be 158. Happy trading :) This is just for educational purposes.
NSE:HINDCOPPERLong
by Sanjan91
HOW THE HARMONIC PATTERNS HELP IN OPTION TRADING AND VOLATILITYThe underlying chart gives us the data but it is important to look into the options chart for the trade. We normally wait for the breakouts to happen in the underlying chart but they happen way ahead in the options chart. By the time we take a trade in the options, it would have been late in options pricing. Below is the bank nifty options chart You can see that the breakouts are happening in both charts. Normally, the terminal bar price for a XACBD bearish butterfly pattern will be at the 1.618 fib ratio. However, for the shorts who enter at this level, the stop loss will be the next fib ratio i.e., 2 in this case. Shorts who entered at 1.618 would have exited in a loss at 2 level, then the price reversed drastically. The long traders who thought there would be a short-covering are trapped mercilessly. This pattern would have benefitted the traders who entered at point B (164.5) and trailed until 1.618 level ( D=197). The price pushed above until 2 (212) but hasn't closed above it and came down quickly. This trade would have given at least 20% for the longs. What I've learned from the harmonics in the volatile and fast-moving scripts is that always mark stop-loss levels also and wait for the price action to proceed. This post is just to show the importance of harmonics in options trading and for educational purposes. Give a like and leave a comment if this helps you. Happy trading :)
NSE:BANKNIFTYEducation
by Sanjan91
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KOTAK BANK MAY HAVE THE FUEL LEFT TO CONTINUE THE RALLYKotak bank has took out the strongest supply zone and also broke the previous swing high with good volumes. The harmonic ABCD pattern gives us the targets of the next swing high. If these targets are taken out, the AB=CD pattern gives us the fib ratios until 3.618 when the AC is around 0.384 AB. So there is a lot fuel left for the rally which could lift the Bank Nifty even more. Buy in a pullback for better risk reward ratio. Happy trading :) This is just for educational purposes.
NSE:KOTAKBANKLong
by Sanjan91
NIFTY DAY TIMEFRAME ANALYSIS. IMPORTANT ZONE TO BE WATCHED.The Reciprocal ABCD pattern formed demand zone has been respected by the market until now. See until the day's end, if this zone is broken, then you can expect a major fall. I will attach a similar idea on the DJI futures chart here. Please look at both of them to make a decision. Don't just carry a short position beyond today's trading session. Wait for Monday's price action. Happy trading :) This is just for educational purposes.
NSE:NIFTY
by Sanjan91
COAL INDIA PRICE ACTION ANALYSISCoal India stock price has shown a nice rise of 6.39% today with good volumes. The price was trading in a falling channel, the price broke above the ABCD pattern's resistance level. This is a break-out level. The price is currently at a rejection point from where the massive fall in price had occurred in the past. It is important for the price to sustain above this level to continue the rally. The supply zone has been spotted on the chart, which might be a hurdle in the future. Better book profits from the supply zone. Happy trading :) This is just for educational purposes.
NSE:COALINDIALong
by Sanjan91
NIFTY SHORT IDEA. PRICE ACTION ANALYSISNifty has bounced off from the above supply turned demand zone and then closed below this zone. As observed, the price took a stop at 3.618 retracement of ABCD pattern. But looking at the DJI index, nifty is likely to open with a gap down. Here, 17400,17300, and 17200 have a good OI on the put side, meaning they are good supports. This has to be interpreted in the right way. 1) For the 17400 put writers exit, there will be a bounce if the market opens with a gap down. 2)If the price breaks the 17300 level, long unwinding could take the price near the demand zone but shall have already broken the trendline. 3) There will be an exit way for 17300 put writers as well. The price may bounce from the demand zone for their exit. 4) After breaking this zone, the price may come to test the 17200 level which is also has a huge OI on the put side. The fall could be up to 17120 if this level is broken. 5) As the volatility is high, expect the market to move violently. But get the swings right for good profits and be patient for the right entries. All the other data is mentioned on the chart. Happy trading :) This is just for educational purposes.
NSE:NIFTYShort
by Sanjan91