BANK NIFTY: WEEK-TECH-SHEET-> 11th February 2019 to 15th FebruarBANK NIFTY: WEEK-TECH-SHEET-> 11th February 2019 to 15th February 2019
Bank nifty moves around -670.65 pips from 11th February 2019 to 15th February 2019, in which bank nifty break last week 04th February 2019 to 08th February 2019 low 26825.55.
As mentioned on reference 09th February 2019 evening order
If it continuous to break 27589.75
Buy @t Entry: 27600
Stop Loss: 27000
Target 1: 27750
Target 2: 27800
Target 3: 27900
Target 4: 28200
Bankstocks
SBIN - Picking The Top- 307 to 277- Hot TradeHi All,
Excited to come up with this video idea. Thanks for all your support. In case you want to reach me -kindly use public chat unless it is too personal
Note
Personal Messenger Reverts can take some time for me as I get 100+ messages everyday & if someone of you asking me stock suggestion -that is not possible as I have to understand it astrologically also ( Janam Patrika - Birth Chart)
Looking at the Birth Chart of the Stock takes time.
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Note - This Trading Strategy is valid only if holds above trendline & support in zone 275-277 zone. Do consider your risk management before trading.
Trading Strategy
Last Price@280.50
Short Term Trading Strategy
Look for support from neckline extended in right side holding in the zone 275-277 & above the trendline is good opportunity to expect a bounce or upside move to 285 -290 levels where selling can happen later
Long Term Trading Strategy
Long Term Strategy - as put in last video idea - "Ulta Pulta- Upside Down" have mentioned we look for 200-210 zone - but with important stops in between like 275 - 250 & 200-210 zone
Last Video Idea - Ulta Pulta TradingView Feature
BANK NIFTY: WEEK-TECH-SHEET-> 21ST January 2019 to 25th January BANK NIFTY: WEEK-TECH-SHEET-> 21ST January 2019 to 25th January 2019
Bank nifty moves around – 577 pips from 21ST January 2019 to 25th January 2019, in which bank nifty break last week 14th January 2019 to 18th January 2019 top 27611.55 and bottom 27182.20.
As mentioned on reference 4th January 2019 evening order
Bank nifty attained target 3, yet to attain target 4
Target 4: 28000
BANK NIFTY: WEEK-TECH-SHEET-> 31ST December 2018 to 04th JanuaryBANK NIFTY: WEEK-TECH-SHEET-> 31ST December 2018 to 04th January 2019
Bank nifty moves around – 506.80pips from 31st December 2018 to 4th January 2019, in which bank nifty breaks last week 24th December 2018 to 26th December 2018 top 27239.95 as well as 17th December 2018 to 21st December 2018 top 27369.10
If it continuous positive
Buy @t Entry: 27450
Stop Loss: 26900
Target 1: 27587
Target 2: 27633
Target 3: 27725
Target 4: 28000
BANK NIFTY REBOUNDSBANK NIFTY REBOUNDS
Bank nifty starts below previous day 24th December 2018 low 26676.95, completed positive around + 621 pip
which breaks previous week17th December to 21st December 2018 low 26823.10 as well as previous day 24th December 2018 top 26934.85
If it breaks 27029.15
Buy at entry: 27031
Stop loss: 26408
Target 1: 27186
Target 2: 27238
Target 3: 27342
Target 4: 27654
SBIN - Ulta Pulta -TradingView FeatureSBIN - Turn it upside done (Ulta Pulta) - TradingView Exciting Feature
Head and Shoulder & Inverse Head & Shoulder (killroy)
Book - Technical Analysis of Stock Trends by Edwards and Magee
The Head and Shoulders Bottom (Reverse Head and Shoulders) is created by three successive declines in the price following a significant downtrend. The lowest low (head) is in the middle, anked by two higher lows (shoulders) at roughly the same level. Volume is highest as the price makes the rest two declines, then diminishes through the right shoulder. Finally volume surges as the price closes above the neckline – drawn between the two highs – to conform the BULLISH reversal. The Head and Shoulders Top is the bearish counterpart signaling a major trend reversal downward.
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Short Term Trading Strategy
Risky Traders
Look to buy if 285 is intact downside - holding above 285 we shall look for 310-320 target zone as shown using magical box in the video
Safe Traders
Look to buy only above 295 for 310-320 target zone as mentioned above in risky traders strategy
Traditional Target (Bookish Measurement)
Vertical Distance from Head to Neckline - projecting it from neckline above or below once right shoulder formation is done & you see volume surges or increase as a confirmation tool for respective direction move.
In current case traditional target comes between 335 -340 zone only once it crosses above 325 and holds above that level for 335 -340 target zone
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Long Term Trading Strategy
Plan A- Selling at tops
If stock faces resistance between 310-320 zone be careful as fall could be severe taking it down all the way to 250 -230 & even close to 200 levels.
Plan B- Buying at bottoms
If you get the stock between 200-210 zone & it gets support then look for explosive move back to 300 - 335 -350 & above 350 - "Up -Up & Away" post the expected fall as discussed in Plan A above
Thanks for watching the video. Have a nice trading week ahead.
Banknifty Elliott Wave analysis points to a topI have marked the waves in the chart and here I will explain them a little more in detail.
Wave 2 is a deep correction of wave 1 and retraces 76.4% of the wave 1.
Wave 3 is a 161.8% extension of the wave 1 and is composed of five inner waves, though I have not marked them on the chart to avoid too much confusion.
Wave 4 is a 38.2% correction of wave 2. Again according to the principle of alternation the wave 4 should have corrected to a lesser degree than wave 2, wave 2 was a 76.4% correction so we would have been expecting a 23.6% correction or a 38.2% correction. We got a 38.2% correction.
The wave 5 is 138.2% extension of the total move from starting of the wave 1 to the top of wave 3. Another Fibonacci principle that was respected.
Thus there is a good chance that we could get a pretty good correction here. We can at least expect a 23.6% correction of the total move in this impulse, in the charts that can be seen at 19606. Thats the first level that we could get in this corrective wave. I think the correction could be a little deeper than that. Post that we should turn around up and look for targets of 22,000. That of-course is for another time.