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16 Feb ’24 — BankNifty will have to support N50 next week for ⬆️BankNifty Analysis - Stance Neutral ➡️ The move BankNifty made did not correlate with Nifty50 today. BN’s gap-up was sold into and then we recovered once the gap was closed. Yes, there was no selling pressure which was common to both. The straddles on BN were progressing better than expected when we had a quick surge and an equivalent fall between 13.31 and 14.11. We assume it may be connected with a news/event that broke about Paytm & selection of any of the banks for its payment settlements. 4mts chart On the higher timeframe, you can notice how BN is making progress to its next resistance level of 47465. Since it is inside a descending (but not parallel) channel, it need not even break the resistance for a stance revision to bullish. All it has to do is take out the 47016 levels soon and break the upper end of the channel. Since Nifty50 has made its intention clear to go long, BankNifty willingly or not would have to support that cause. We wish to maintain a neutral stance till then and go bullish as and when the conditions specified are fulfilled. 63mts chart Algo Trading Our BankNifty algo trades ended today with a gain of 3835 points.
NSE:BANKNIFTY
by viswaram
14 Feb ’24 — BankNifty takes out the resistance and goes neutralBankNifty Analysis - Stance Neutral ➡️ BankNifty does the impossible today, the reason we are saying this is because, despite a UP day yesterday, BN was unable to get past the resistance of 45399. See what happened today - we opened gap-down and by 10.55 we were back at the resistance level of 45399. The rejection made sense then as the mood was still bearish and little we did know what the remainder of the day had in store. The elongated encircled region is when BN was still negotiating in and around the SR level. Once it got past that - the next test was at the purple descending trend line (which we drew yesterday). That was also kind of accurate as on 3 instances we had a contact. 4mts chart The climb of 670pts from 14.07 to 14.39 made all the difference today. It drove our algo into a tailspin and ensured that we booked the highest intraday loss till now. You might already know most algos prefer to play straddle or strangles and today being the expiry day created more trouble. The calls when sold were damn cheap and when the stop loss got hit - it appreciated more than 100 to 200%. Yesterday we pointed out the unusual skew in the PUT and CALL premiums, the calls staying cheap. Today we fell victim to that. 63mts chart We have another W pattern today and since the resistance is breached, it is a good sign for the bulls. Overall our stance is now revised to neutral from bearish. What is more interesting is that BN has a perfect at-par close with the last expiry i.e. 7th Feb. The first thing we will be looking out for tomorrow is to see if there is follow-up buying or whether what we witnessed today was just a blip. Algo Trading Our BankNifty algo trades ended today with a loss of 11805.
NSE:BANKNIFTY
by viswaram
13 Feb ’24 BankNifty is still bearish even after a 927pts rallyBankNifty Analysis - Stance Bearish⬇️ BankNifty had a lot of anomalies today. Firstly, the start was slightly on the higher side and BN did not fall, unlike Nifty. We ended up defending yesterday’s swing low which came as a big surprise. You might remember, we had a bearish call for BN today and the fact that the downside move was not even attempted came as a shocker. 4mts chart Secondly, BN ended up rallying 927pts ~ 2.07% intraday and was still unable to break the 45399 resistance. If you ask us, it did break the resistance on the 4mts & 16mts chart. But on the 63mts chart, it is still unbroken. ICICI Bank & AXIS Bank were in tremendous form today rallying 2.38% and 2.3% respectively. The bulk of the gains today came from these 2 counters. HDFC Bank showed some intent to break through the 1400 level but was cut short. 63mts chart We are drawing a new trend line (purple color) - A bearish line. The difference here is that it is cutting through the candles on many occasions. Since it is not the perfect way to draw the line, we may even take it off shortly. The only reason we drew it was to plot the course BN is currently sailing. Tomorrow being an expiry day, we hope the bearish momentum will pick up the pace and the levels of 44542 and 44068 will get broken. The new purple line will serve as a dynamic resistance tomorrow. Algo Trading Our BankNifty algo trades ended today with a loss of 560 points.
NSE:BANKNIFTYShort
by viswaram
12 Feb ’24 BankNifty breaks a support, stance changed - BEARISHBankNifty Analysis - Stance Bearish⬇️ We expected BankNifty to stay neutral today after what it did in the last session. Just to recap, BN broke through the resistance of 45399 last session and ended the day near the highs. We were expecting that momentum to continue today also as Banks had no inherent weakness to start with. But what happened today was unexpected - the swing range was a whopping 1118pts ~ 2.44%. And today’s low took out the last session’s swing low as well. 4mts chart If you notice the encircled region, once BN broke the support of 45399 - it attempted to go up but failed miserably. That was the exact phase where we understood that the Bears may overpower the Bulls. We fell 715 points ~ 64% right from those levels. So in case you got into the bearish stance late in the day - you would have still ended up the day in pretty good greenery. 63mts chart 44542 support level is quite near and BN tested 44633 levels ~ 91pts away. If the Bears are still in form tomorrow, we should expect the 44542 to be taken out in the forenoon session tomorrow. The next level in play would be the most important 44068 levels. We wish to start the day tomorrow with a bearish stance and take up short opportunities as and when it present itself. Algo Trading Our BankNifty algo trades ended today with a loss of 2538 points.
NSE:BANKNIFTYShort
by viswaram
09 Feb ’24 — BankNifty defends the 45399 level, boosting bulls BankNifty Analysis - Stance Neutral ➡️ BankNifty defends the 45399 level with so much ease today. After witnessing the rout yesterday, we seriously thought BN would take longer than usual to recover the lost ground. Do you remember the discussion we had about the 2 strong RED candles before breaking the 45399 levels yesterday? Today’s counter move made them look insignificant. 4mts chart The intraday low was hit in the first candle itself and from that point, we had an intraday rally of 854pts ~ 1.91%. The closing was with so much strength and rightly so as once we broke through the 45399 resistance - BN bulls got so much hope & enthusiasm. Notice the encircled region and how we spent the time around the SR level before breaking out. The green candles were getting stronger with every iteration. 63mts chart The last candle of today forms perfectly above the 45399 confirming the break. This nullifies yesterday’s fall and we are back into the neutral territory. For Monday we need to look for non-directional trades again and would only go short if the support breaks. To go LONG we have quite a distance to cover as just beating 46800 would not suffice. Algo Trading Our BankNifty algo trades ended today with a gain of 217pts. If you look at the chart below - you can see how difficult it was for the system to handle the reversals today.
NSE:BANKNIFTY
by viswaram
07 Feb ’24 — BankNifty needs to go above 46800 for stance changeBankNifty Analysis - Stance Neutral ➡️ Unfortunately, BankNifty has not gotten a stance upgrade yet, we still are in neutral territory. Only if we get past 46800 - the stance can be revised. Our opening minutes were almost there ~ 46062 levels but we quickly lost ground. In total, we gave up 439pts ~ 0.95% from the highs - but this was not scary or unusual - it is just that a single 4mts candle at 11.31 stands out, it took out 109pts ~ 0.24%. 4mts chart Till then BankNifty was looking quite okay with a gradually falling bias, that candle would have woken up the straddle sellers as their stop losses would have hit. If they kept the other leg open till the last minute, quite sure that would have given a scare too. Finally, we ended the day positively with a net gain of 127pts ~ 0.28%. The intraday day recovery of 317pts really helped BN gain back its lost ground to an extent. 63mts chart Between the last expiry and today - we have just lost 0.12% ~ 53pts which is not significant at all. But what is more important is that the support of 45399 is defended properly. As we drew the IH&S yesterday - we need a close above 46800 for strong bullish momentum to pick up and most likely that should help us take out the 47465 resistance as well. Will it happen tomorrow? Not sure. Will it happen in the next expiry? We would like to place our bets. Algo Trading Our BankNifty algo trades ended today with gains of 8204 rupees. The 11.31 stunt took away some gains, but we gained back the lost ground as further trades were not violent.
NSE:BANKNIFTY
by viswaram
05 Feb ’24 — BankNifty's total day's move done in first 5mtsBankNifty Analysis - Stance Neutral ➡️ BankNifty was more flattish today even though the chart pattern shows a bearish tinge. We lost 145pts ~ 0.32% today, but if a trader got into a straddle position after the first candle - it would have ended quite perfectly today. This means that the net loss for the banknifty was decided in the opening 4 or 5 minutes and the remainder of the day was just spent fooling around. 4mts chart If we extrapolate it from the previous day’s pattern it looks bearish. But if we extend it to the last few days - it's all neutral. As long as BN is between 45399 and 47465 - we are in for a perfect range-bound trade. The moment one of them gives away - we can see the pressure releasing and a strong trend developing. We need to note that Nifty was unable to break from a range-based trade in the last 47 days, as the count of the days goes up - the higher will be the breakout/breakdown momentum. 63mts chart Most importantly BankNifty will have to be its torch bearer. Looking at the charts right now - BN is pretty unsure which way to swing. There were some bright RED candles in the last 3 week’s action and possibly things are facing south. Whereas Nifty is looking northbound. As long as this tug-of-war stays, none of them breaks free. The best option for the bears is to take out the support of 45399 via gap-down tomorrow and then hope the shorts will mount. We wish to maintain our neutral stance till something materializes. Algo Trading Our BankNifty algo trades ended today with a gain of Rs5500
NSE:BANKNIFTY
by viswaram
ALGO/USDT 15x Potential as per My chart AnalysisALGO/USDT Inverse H&S Pattern: EURONEXT:ALGO Warning: Strong Resistance Ahead at $0.30 Level! If the price is rejected from $0.3 level, a 50% retracement is possible. However, an Inverse H&S Pattern is also emerging, suggesting that the best accumulation zone might be around the right shoulder at $0.160-$0.180. If this pattern comes to fruition, a 15x target could be expected in the near future! Another scenario to keep in mind: If the resistance breaks, we could see a super bullish move towards $2 (10x)! Overall, the market is bullish, so try to accumulate at every big dip in the spot. Algorand is already up 200% from the recent bear market bottom. Fundamentals: Over 30 million transactions completed in less than 24 hours on #Algorand Algorand started this year with 2k TPS sustained for hours. It is now a few hours into the Juicening, and Algorand is still on top
Long
by CryptoPatel
Automation using TradingView Webhooks, I got hooked on Dhan!Brokers are the last people on earth to whom we would like to give credit. Social media is flooded with posts that say “My broker did not help me square off positions…”, “My broker’s app stuck in between..”, “My broker did not help me login…” etc. I believe 99 out of 100 support tickets they get every day would be problems, glitches, and issues. Being a broker is such a thankless job, even if you are doing okay - their customers would say “They just meet the expectations..” Maybe they should change their name from “brokers” to “platforms”, because when we hear the word broker - we relate it with commissions. It all started in real estate purchases and rentals. If you wish to rent a property, you need to pay 1 month’s rent as brokerage to the person who showed you the apartment. Similarly, the broker in stock trading connects you to the exchange - so that word rhymes with the concept of giving out some money as commissions. My topic today is not about reducing the commissions or abolishing the list of taxes every trader faces, but something about giving credit for a job done well. This list is tracking 128+ brokers in India. Together they handle about 3,24,94,922 active customers. I assume that should be 95% of all traders. The top 10 brokers handle 80% of the customers. The top 20 handles 90%. This means around 108+ brokers handle just 10% of the customers. Every broker has some pros and some cons. Switching from one broker to another is not that easy, so the customer will only do that if the new broker offers something extraordinary - a new tech or a pricing advantage. I am here to talk about one such tech that got me interested - Trade via Charts. @TradingView (TV) is a firm that provides app/web based charting solutions for most of the stocks, indices, currencies, and commodities out there. Most of the brokers provide a free integration with TradingView charts. Even trade from charts is not that new - it was there for quite some time now. @Dhan is one of the first brokers (15th in this list) that provided the TradingView integration via Webhooks. This means if we set some levels on the TV chart, it could place the orders directly on the Dhan app. This means a lot if you are serious about automating your trading plan. All we need to do is set the right levels on the TV charts via price alerts, pass the JSON script, and then set a corresponding order on Dhan app. If the stock/index crosses that price level - the system automatically places the order for you. Dhan made this revolutionary integration and then quietly but suddenly it started gaining a lot of customers. Automated trading will attract the office-goers, self-employed professionals and part-time traders because they can set these levels on the chart and then forget it. This feature will help them take their eyes away from the trading screen and focus on their main job. Lesser screen time for trading combined with a higher focus on their main profession. Lesser screen time also ensures lower stress levels. Sitting in front of the computer monitor for 6 to 7 hours watching the charts is not a child’s play. It not only eats up our energy but often prompts us to over-trade or exit prematurely. This is how I created the price alert. In the message box you need to pass the correct Json as provided by the broker (for sample I have mentioned it as just TESTING..). Once this price alert is correctly set up - it places an order if Nifty50 falls below 18900. All I need to do is create a basket with the items that need to be part of the order. For example, see image below - I created a test basket with name: 111 that will place an order of 1 lot on 18900 PE when Nifty50 falls below 18900 on the TV chart. If you are new to coding or automation - it may take some time to get a grip on what is happening. But once you have done the homework, it should work like a charm. I had no plans to open a Dhan account earlier, but as soon as this feature became stable - I wanted to try it. Now that I have been using it for half a year - I am really loving it. Once I got it working, the speed of placing the order was much better than my manual entries. I saved some slippage costs as well. The important takeaway here is that automation is highly possible, but you need to set the command correctly. Automation is not a tool to help you make profits if you were losing manually. The logic of what should happen and when it should happen should be decided by you, how it will happen is what's getting automated. Also, trading is a tough job. Less than 5% succeed. 99% of trading money deployed ends up in the hands of 1% of traders. The real clue is to get your research worked upon. Work hard to find your edge. If you are employed somewhere, use your spare time or weekends to research. Once you are ready with a good plan - you may be able to deploy this feature. If you get it programmed correctly - it may even give you peace of mind.
NSE:NIFTYEducation
by viswaram
1
Nifty Technical Analysis - Using Algos to benefit from fall In a falling market, an investor is benefitted the most by averaging at lower prices. However, emotions can ruin the decision making and the investor can end up losing the opportunity. The algo which i have written (link shared below) works best in a falling market as every candle it checks if the low is below previous low and then buys. So the average buying price keeps going lower and accumulation happens slowly and steadily. OVer the long term, the benefit of low cost can never be over emphasised.
NSE:NIFTY
by MBIPL
💡Don't miss the great buy opportunity in ALGOUSDTrading suggestion: ". There is a possibility of temporary retracement to the suggested support line (0.6418). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . ALGOUSDT is in a range bound, and the beginning of an uptrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 64. Take Profits: TP1= @ 0.7444 TP2= @ 0.7727 TP3= @ 0.8096 TP4= @ 0.8968 TP5= @ 0.9881 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity_ME
2
algo long §§§!!!!. ALGOUSDT is in a range bound, and the beginning of an uptrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 64. Take Profits: TP1= @ 0.7444 TP2= @ 0.7727 TP3= @ 0.8096 TP4= @ 0.8968 TP5= @ 0.9881 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast.
Long
by titou-tairova
💡Don't miss the great buy opportunity in ALGOUSDTTrading suggestion: ". There is a possibility of temporary retracement to the suggested support line (0.7804). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . ALGOUSDT is in a range bound, and the beginning of an uptrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 67. Take Profits: TP1= @ 0.8885 TP2= @ 1.0043 TP3= @ 1.1023 TP4= @ 1.2046 TP5= @ 1.3170 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity_ME
5