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Athbreakout

NIFTY- A strong move is about to come?An index analysis idea after many many months. Reason:- Today, we saw a short covering 400 points up move in Nifty with an ATH closing. What is the chart speaking now? Nifty has given daily closing above 22800 which was a strong supply zone. 23000 is a psychological resistance in Nifty now. As from chart, it is clear that our dear Nifty is trading in a channel and 23100-23150 is the next supply zone. If we see a consolidation near 23000, we might see this resistance getting broken and strong bull run till 25000 should be expected. However, there are high chances of bull trap getting formed in this zone , especially 4th June being an eventful day which is just 2 weeks away from now. I am expecting a highly volatile market till June end.
NSE:NIFTY
by chartistamey
PFC-A good ATH breakout of investment stock!PFC has given yet another ATH breakout as the bull run of this stock continues. A beautiful cup and handle flag consolidation is seen in the stock which can be reason to fuel more rally in this stock. Momentum traders can keep this stock in watchlist. 555-560 will be a strong supply zone for the stock. Easy 10% returns are visible here. Long term target of the stock is 1000+ and hence long term investors should continue holding this PSU stock. PSU Power sector will keep growing and so will PFC.
NSE:PFCLong
by chartistamey
30 Apr 2024 - Sharp fall in last 1 hr, rebalancing or reversalNifty Analysis - Stance Bullish⬆️ Recap from yesterday: "We are now very close to the ATH and once we take out that, we can safely remove the double top pattern." Nifty does a decent climb to hit a new all-time high of 22783 and then a brutal fall of 215pts ~ 0.95%. No matter how professional a trader you are, you cannot set a trap to make money out of that move. Agreed, the 22700 PE buyers would have made some decent money today, but it was never in the cards. Nifty was bullish and stayed bullish from the start, the sign of meltdown was not there, not according to me anyway. I was really scared that we would take out the 23800 on 2nd May as it's a holiday tomorrow. The 63mts TF paints another picture, a perfect triple top at the 22780 levels. A double top between 9th and 10th April and the third top today on 30th April. It is not a conventional triple top anyway, but the ATH levels are seen as quite shaky. As long as 22519 is respected, we maintain the long stance. Nifty algos ended the day with a gain of 210 INR.
NSE:NIFTYLong
by viswaram
07 Feb ’24 — Nifty Passes the Fire Test - Stance Upgraded to 🐂Nifty Analysis - Stance Bullish ⬆️ Recap from yesterday: ” Nifty is still undecided on the 63mts TF and for that same reason, we wish to start the day tomorrow with a neutral bias and then go long if we have a green candle above the 21913 zone. Only if BankNifty lends support we can take out the ATH and there is no better day than the expiry day for such feats.” 4mts chart The gap-up was much more than expected and we did not live well to that hype anyway. When we have a huge gap and the market starts to close, it accidentally builds momentum for the weaker hand and most of the time the scale tips in their favor. Luckily, the Bears could not capitalize on it today as Nifty fell 192 points ~ 0.87% from the highs, breaking the support of 21913. The recovery was not anything spectacular, Nifty just ended the day above the level of 21913 and for us, that is more than enough to change our stance from Neutral to Bullish. NiftyIT reminds us of the night watchman in cricket. When there are only a few more overs remaining in a Test match - you send a tail-ender instead of your best batsman. Today when BankNifty started awakening, NiftyIT started giving up. What was the reason NiftyIT ended the day with a loss of -1.25% on an otherwise good GREEN day? 63mts chart The Inverse Head and Shoulders look perfectly formed and since it is a high-accuracy pattern - we wish to put our weight behind it. The only thing standing in its way was the 21913 resistance, now the next target should be the all-time highs. Our stance for tomorrow is bullish and since these are all games of probabilities we reserve the right to be wrong as would like to keep the 21826 area as a good stop loss.
NSE:NIFTYLong
by viswaram
PFC: Powering the Future - A Skyward Bound OpportunityPFC, or Power Finance Corporation, is currently on a trajectory that could take it to unprecedented heights in the financial world. As an established player in the power sector, PFC has consistently shown resilience and adaptability, making it a compelling choice for investors looking to ride the wave of its new rally. The stock's recent performance hints at a potential rally, and the stars seem aligned for PFC to reach for the sky. Whether you're a seasoned investor or a newcomer looking to explore promising opportunities, PFC's upward momentum is worth watching. Trade Strategy: For those considering an entry, we recommend watching for a breakout above today's high. In line with prudent risk management, we've set a stop-loss (SL) level below 255. This allows us to limit potential losses and protect capital in case the trade doesn't unfold as anticipated. As PFC prepares to embark on a potential journey to the sky, savvy investors and traders may find this stock to be a captivating addition to their portfolios. Keep a close eye on the price action, and remember to employ sound risk management practices to maximize the potential benefits of this opportunity.
NSE:PFCLong
by iamrk7
1
Unpacking KSB : From Breakout to Retest - What's Next?Hello Traders! Today, we're going to take a deep dive into the technical analysis of KSB , a prominent company known for manufacturing valves, pumps, and more. 🔍 Understanding the Chart KSB has recently made an all-time high on 23rd August 2023. Interestingly, it broke this all-time high on 21st September 2023 with impressive volume. The stock has now returned to its previous all-time high to retest the breakout, but with very low and decreasing volumes. This pattern suggests that it's a retest of the previous all-time high breakout. Entry Point : The stock is currently trading at 2864. We may plan an entry at this level. Stop Loss : The stop loss will be around 2840. First Target : The first target will be at least 2960. Second Target : The second target will be around 3030. 📊 Fundamentals The fundamentals of KSB are strong, with the company posting impressive quarterly results. You can check the details below image: 🔔 Upcoming Events :The company is expected to post its quarterly results in the coming days, which could potentially impact the stock's performance. 📚 Key Technical Terms Explained All-Time High (ATH): The highest price ever reached by a stock. Volume : This refers to the number of shares or contracts traded in a security or market during a given period. Retest : This is when a stock moves back to a price level it has previously broken out from, often to confirm that level as either new support or resistance. 💡 Conclusion Remember, this analysis is for educational purposes only. I'm not a SEBI registered analyst. Always do your own research before making any investment decisions. If you found this analysis helpful, please press the 🚀 icon, leave a comment, and follow my profile for more updates: in.tradingview.com Thank you for your support and feedback!
NSE:KSBLong
by AfnanTAjuddin
8
Nifty - near ATH, what's next?NSE:NIFTY reached near its All Time High 19000, peoples are talking about big fall but here the view seems different to me, As per my Elliott wave study and my counting on it which can differ with every EWT user above is my shared view, please look carefully & have a happy trading here are some points to take in consideration. 1] Price is still in channel. also there is reverse breakout from wedge. 2] Wave 4 correction was not clear until the breakout happened. 3] VIX is near 11. So, volatility would still be low with following its trend. 4] RSI - Daily, weekly, monthly is still bullish no sign of weakness. 5] Daily candle high near upper bollinger band. 6] Daily, Weekly supertrend in green indicating more bullishness 7] no weakness in banking stocks which has highest weightage in nifty.
NSE:NIFTYLong
by Ajay7871