Beyond Technical Analysis
Bar Counting and Trading Setup.NSE:BAJFINANCE
In this video, we have discussed how you can count the bars to identify when a pullback is ending and use it for a trading setup to trade with the trend.
The Full setup is explained in the video, Watch and share with your friends.
Give a like and comment with your views or queries.
Keep learning,
Happy Trading.
Thank you
ICICI Bank- 3rd attempt to cross 960, will it succeed?960 is upon us again. ICICI Bank has a number of factors lined up this time. However there is one missing piece that i would like to see fall into place to confirm this breakout
Several breakouts in ICICI Bank have failed in the last 12 months. This time maybe different
Other banks like Axis, PNB are moving strongly, so a move in ICICI Bank was expected
The sellers at 960 may have been cleared last time when we came up in June. Then the stock was overbought - this time it isnt
Results on the 22nd of July - this maybe a classic earnings run by people who know
Overhead supply this time is far less - and hence pull to 970 is likely. Dont buy the break, but wait for the retest of the high to buy it in the safest possible way
Additionally call premiums are very low - they are discounting results. So basically get a free hit on the results:)
Nifty 50 Index - Probably need 4-8 weeks to consolidateNifty needs some time to digest the current upmove. It is pretty extended from the 21 EMA and the 50 EMA
See the video to understand why patience is your friend right. Staying light and not adding aggressively is the key. Wait for lower levels - 19400 or so
Short? No as we are very much still in a bull market! (remember - higher highs and higher lows)
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Bharti Airtel - Its still consolidating, waiting for a triggerBharti continues to be a good trade on the long side. The markets are a tad soft after a big run from 16800 levels - and a bit of a soft period for the Nifty in the next couple weeks can be expected. So would stay light on the long side as of now - very selective. However Bharti is one stock would stay very productive on because
Shake out on 14th of June - went down to 818, clearing weak longs
Defied the general market weakness last one week or so and continues to consolidate
Fundamentals & analyst estimates - still positive
Need a rapid push above 850 to clear the way to 900
Again if it cant clear 850 on big volume in the next few days, take your profits and get out at 845 or so. (PS - similar thing happened in Britannia a few weeks back)
NSE Nifty India - Will it outperform Bank Nifty?3 Reasons why the Nifty may perform better than BankNifty in the next few months
Banks are relatively overbought - Esp ICICI, SBIN, Kotak, HDFC
FMCG, Auto could help the Nifty outperform Vs Bank Nifty
Bank Nifty has hit its life high and reversed - the Nifty still hasnt
Britannia India is hanging Around under Life Time HighI recorded a short video to talk about the process of looking at a stock. Starting with the fundamentals and then coming to the short term movements. This is more educational in nature and can help avoiding mistakes like
Looking at chart patterns and taking trades - only to see the stop loss getting hit
Overtrading, getting out of good trades early - getting faked out because of news
Why listening to "Nifty Analysis" and CNBC / Bloomberg is actually very harmful to good trading
How a good stock analysis process always starts with the "Monthly Chart" - and not the 5 min or the 15 min
Why trading doesnt necessarily mean making 2 or 3% on a trade - it should mean making 20-30% on some trades
Of course Britannia is the key trade to look at here - where to take a position and how to manage it. But the lessons i have learnt through painful losses are probably as vaulable.