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WEDGE-BREAKOUT-UPTREND-PRICE-ACTION-VOLUME-PROFILEDisclaimer-: 1. FOR WHOM VOLUME PROFILE AND MY METHOD IS A LITTLE NEW OR BLURRY . I WILL SOON PUT UP AN EDUCATIONAL POST WITH DETAILS AND EXAMPLES. WE CAN HAVE A SERIES OF DISCUSSIONS THERE TOO. DO FOLLOW MY ACCOUNT TO GET NOTIFIED. 2. Do ask your questions in the comments if any. Volume Profile-: In volume profile we can compare the levels of volume at different price levels historically and current price levels to try to find the strength of current move and strength of the resistance it might face. If the up-move (currently) and its previous accumulation's volume is very high compared to the volume of its historical resistance level it means we have more strength in up-move and weak resistances can be crossed. IMPORTANT OBSERVATIONS-: 1. Stock was declining for a while. 2. Gave a nice falling wedge or triangular pattern breakout and started rising. 3. Recently accumulated over a range and then gave a breakout. 4. Has retraced a little with low volume and thus has given us an opportunity to enter with confirmation. 5. The volume of the accumulation level is too high compared to the volume at its all time high, which shows its a weak resistance level and there is a high chance it will be broken. TARGET WITH LOGIC: Since all-time-high has a weak resistance we might make a target farther than the all time high. Since the up-move is strong and accumulation has nice volume. So a Fib Extension target of 168% makes sense since , since the rally started the recent accumulation has more volume than ever before so the current expected up-move should be more than the previous rally. So 168% MY APOLOGIES-: Of course the best entry would have been after breakout of the wedge pattern with confirmation but I had not come across the stock at that time due to my negligence. (See my other recent posts, some of them have recently given wedge breakout with good opportunities) ENTRY and STOP-LOSS Entry at CMP above 90 level with a conservative stop-loss at the support of accumulation which is at 65 would be better than an aggressive stop-loss. Enter only if next time the entry price gives a reasonable RR ratio as per your strategy. Keep trailing stop-loss. One of the ways is to use Moving Average with Average True Range(14) (ATR) as buffer. EXIT IF there is bearishness near the all time high, a trailed stop-loss should be at place and obeyed. Since the target is above all time high. Its a provisional target level. So it doesn't make sense to exit at target rather hold on to it as much as possible and keep trailing stop-loss. Following can be used as exit signals or bearishness signals. 1. If there is bearish candlestick pattern in 1W timeframe, stop-loss can be trailed to a nearby support level .(Like Candle Low) 2. If there is RSI Divergence in 1W timeframe, better to exit at close of 1W since afterwards there can be long consolidation or reversal. 3. If the trailing stop-loss is hit, please exit **IF YOU LIKE MY ANALYSIS, KINDLY GIVE A THUMBS-UP AND SHARE IT IF POSSIBLE, HELPS A LOT :) **I WILL POST NECESSARY , SIGNIFICANT CHANGES IN THIS THREAD LIKE ADDITION TO POSITION, EXIT SIGNALS ETC. TO AVOID MISSING OUT ON UPDATES PLEASE REMEMBER TO FOLLOW THE POST AND MY ACCOUNT. **YOU CAN TURN ON NOTIFICATION TO BE UPDATED OF CHANGES **ANY COMMENT ON THE ANALYSIS WILL BE HIGHLY APPRECIATED.
WLong
by VPA_TRADER
Nifty Level For Tomorrow ( Price Action Analysis)If tomorrow market opens flat then go long if the market takes support 16230 if this level break then go short for 20-50 Points Or If Market Open gap up and breaks yesterday high and sustain go long otherwise go short if 15 red candle low breaks Or If Market Open gap down above 16180 then go long if faces resistance then don't trade only go long if buy signal shown Major Resistance:- 16350 -16450 Major Supports:- 16180 -16000 All Advice is for Educational Purposes Before taking any investment decision concerns your financial advisor
NSE:NIFTY
by Mayurnavhale
Bank Nifty Level for Tomorrow ( Price Action ) If Tomorrow market open gap down above 35760 and sustain then go long if not then short for 100-120 Points if Market open flat and breaks 36200 level and 15 min candle close above 36200 then go long if high breaks for 150-200 Points Or If Market so sideways then only take if the given level breaks ]Major Resistance:- 36200-36700 Major Supports- 35450- 34860 Avoid trade for long if market go sideways All Advice is for Educational Purposes Before taking any investment decision concerns your financial advisor
NSE:BANKNIFTY
by Mayurnavhale
Nifty Level For Tomorrow ( Price Action Analysis)If Tomorrow Market Open Gap Up below 16300 levels and taking support of 16250 then Go Long for 30-40 Point. or If Open Flat then let first break 16300 levels then go long ( Risk should be small reward big) Or If Market Open Gap Down Above 16180 level and taking support then Go Long for 50-60 Points If the Market opens flat and go sideways then let the market touch our given give level ( 16180-16250-16180 )then take proper decisions. All advice for Educational Purposes before taking an investment decision concerns your financial advisor. Nifty Support:- 16250, 16180 Nifty Resistance :- 16310 ,16395 Have a Profitable day.........all the best
NSE:NIFTY
by Mayurnavhale
Nifty Level For Tomorrow ( Price Action Analysis)If Tomorrow Market Open Flat then Go long for 50-100 Points or If market open flat and faces resistance then go short if 35650 level breaks for 20-50 Point. If Possible Avoid short trade for tomorrow. if the Market Open Gap Down above 35450 then Go long for 50-150 points. Banknifty Major Support:- 35450 and Strong Support:- 34860 Banknifty Resistance: - 36100 and Strong Support:- 37200 For Clear check level on the chart All Advice is for Educational purposes before taking a decision concerns your financial aadvisor.
NSE:BANKNIFTY
by Mayurnavhale
Bank Nifty Level for Tomorrow ( Price Action ) Now Market in Bullish Trend Yes Its Unsual Price Action But We WON'T GO AGAINST If Tomorrow Market open above 35800 Taking Support then Go Long up to today's if level breaks then 36600-36700 level If Market Open flat and Go Sideways then only trade at 35800-35850 level go long otherwise don't trade. Or If Market Open gap up above today's then let take support of our given level take a decision. All Advice is Educational Purpose Concern your financial advisor Market Next Target 36500 37200 Market Support :- 35800
NSE:BANKNIFTY
by Mayurnavhale
Nifty Level For Tomorrow ( Price Action Analysis)If Tomorrow Market Open above 16020 and 15 min green candle high breaks then go long with small risk and reward ratio make sure your stop loss is not more than 10-15 Points. If Market does not Sustain at 16020 then go short up to today's lows. If Tomorrow Market Open above 16130 and Go Side ways then try to take a short entry. I am Bearish On Nifty because of unusual price action behavior. All Advice is for educational purpose,concern with your financial advisor
NSE:NIFTY
by Mayurnavhale
Bank Nifty Level for Tomorrow ( Price Action ) IF Tomorrow Market Open between 35200--35340 and if 15 Min Opening Candle is green then wait go long after 35340 level breaks or if 15 min opening candle is Red low Breaks then go short after 35180 level breaks for 100-200 Points I Am still Bearish On Market. All advice is for educational purpose before any decision concern your financial advisor Major Resistance :- 35450 35,700 Major Support :- 34150 ,35200 Have a Profitable Day ahead
NSE:BANKNIFTY
by Mayurnavhale
Bank Nifty Level for Tomorrow ( Price Action ) If Tomorrow Market Open between 34860 -35180 Then Go Short for 100-200 Point. If Market Taking Support of 34860 then go long for 50-60 Point If Market opens on given support 34300 then go long if opening 15 min candle high breaks. If Market go side ways at given level 34300 level then avoid Trade . If given level breaks then take Trade With Proper Risk Management Major Support:- 34050 Major Resistance:-34860 ,35180 Do Concern your Financial Advisor Before taking any decision
NSE:BANKNIFTY
by Mayurnavhale
#banknifty view for 30th July'21#banknifty view for 30th July'21 What I said yesterday:="Selling pressure will intensify below 34,373 and lower targets goes till 33,823 to 33,671 Buying will only come above 34,956 and will post fresh view if the closure is above 34,956" BankNifty is still weak, there is no sign of strength till the time we trade below the gap. Short Term Analysis is still bearish:- E.g. One of the important DP is the weekly low, if the weekly low is broken, then only you will be short else you won't. John Maynard Keynes said, “the markets can remain irrational longer than you can remain solvent.” So be cautious and flexible as market conditions evolve. Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient. Regards, SG.
NSE:BANKNIFTYShort
by subhagghosh
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