SBI CardTF - Weekly
Piercing pattern is seen in Weekly TF.
after a continues downtrend, Green candle is seen.
This pattern means, downtrend is finished.
now we can expect uptrend in this script.
2 more reasons which makes it strong,
- Bank Nifty has seen "bullish engulfing" candle. whole banking sector starts journey on upward move.
- fundamentally, lockdown is eased to all over, except some of the areas in country.
BANK
TRADING PLAN FOR NIFTY AND BANK NIFTY FOR 29-11-2021This channel provides Nifty and Bank Nifty analysis and provides swing trades for equity.
The channel is also a provider of technical knowledge on technical analysis.
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NIFTY BANKSince the market is still within the Round Levels, we can agree that these levels are still important. Also at the top 37800 is previous day's swing level can be seen working as The RESISTANCE.And as the market moves upwards, the 37000 Round Level can be seen acting as an important SUPPORT.
Although
TRADE Your Strategy.
TRADE Accordingly!
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TRADING PLAN FOR NIFTY AND BANK NIFTY FOR 26-11-2021This channel provides Nifty and Bank Nifty analysis and provides swing trades for equity.
The channel is also a provider of technical knowledge on technical analysis.
This is merely a recommendation channel, so please do your own analysis as I am not a SEBI registered analyst.
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TRADING PLAN FOR NIFTY AND BANK NIFTY FOR 25-11-2021This channel provides Nifty and Bank Nifty analysis and provides swing trades for equity.
The channel is also a provider of technical knowledge on technical analysis.
This is merely a recommendation channel, so please do your own analysis as I am not a SEBI registered analyst.
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Canara Bank Monthly Chart Analysis 23.11.2021Canara Bank as per monthly chart pattern analysis from bearish inverted hammer candle today had turned into bullish gravestone doji and hopefully if the market is reversed after todays bull run then the stock from december onwards should move uptrend. Holding the stock and happy trading to all.
Bank Nifty analysis for 24th Nov 2021Bank Nifty
Daily charts show no hope of recovery. In fact, the daily charts have just gotten into a bearish cross over in the EMA along with the MACD and its' histogram.
Hourly charts on the other hand give me some hope. MACD and histogram have given the initial bullish reversal pattern. RSI is in an up-trend too. The confirmation would be when the EMAs give us a strong crossover.
15 min charts are not interesting again but we cannot deny the fact the the chart has a new up trend. The up trend is not very strong or prominent but it does look like a sunshine in the meadows. RSI on the other hand is over the 50 mark and in the bull zone but MACD looks weak now.
Overall, I feel that we will see a small running correction tomorrow. I am still not confident because of the MACD signals on the daily chart.
CMP:- 37272.80
Support (low made today):- 36647.75
TRADING PLAN FOR NIFTY AND BANK NIFTY FOR 24-11-2021This channel provides Nifty and Bank Nifty analysis and provides swing trades for equity.
The channel is also a provider of technical knowledge on technical analysis.
This is merely a recommendation channel, so please do your own analysis as I am not a SEBI registered analyst.
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Simple Trade Setup | HDFC BANK | 23-11-2021 [ INTRADAY]NSE:HDFCBANK
Observations:
1) On 1day time frame, it closes below 200DMA.
But it has tendency to trade very less period of time below 200DMA.
Will it be a fake breakdown or it will jump from here tomorrow?
200DMA is placed at 1521.29.
Please refer below chart : 1 day Time Frame.
2) On 1 day time frame we can see level 1550 is major breakout level.
1500 is immediate support and immediate resistance is at 1525 level.
Please refer below chart : 1 day Time Frame.
-------------------------------------
Trade Setup for Date: 23-11-2021
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
Short Market Update: 17.11.21📊SHORT MARKET UPDATE📊
The bear flag that had formed in nifty paved the way for today's downfall and we have fallen out of that interim rising channel. The downfall is likely to continue and the next level of significance is 17600 from where last time we bounced back to form the bear flag. In case of bank nifty, it is entering a zone where previously bank nifty took support or got resistance multiple times. Bank Nifty has already corrected 10% from the recent highs. We might be looking at another 1000 points on the down side owing to the big banks going in red. From there things will get tricky because a lot of investors would want to get in individual stocks but bears will look for shorting. Nifty and Bank Nifty option data shows fresh short of call options almost all strike prices. Bank Nifty put call ratio is also above 1. This is open to interpretation but in case of bank nifty this data can be interpreted as bearish given the fact that Fresh long is happening in PUTS at OTM and below. Overall, maintain bearish bias.
✅17900 PE went from 138-151
✅38500 PE went from 612-709
Both of these were mentioned in last short market update
You need to understand the psychology and that is panic. People sell in panic and that's why the down trends work so fast. Given this fact, institutions and big traders would like to make use of that panic.
BANK NIFTY 12TH NOVThis channel provides Nifty and Bank Nifty analysis and provides swing trades for equity.
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This is merely a recommendation channel, so please do your own analysis as I am not a SEBI registered analyst.
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