Bounce
Mentorship InstaView 02 July’21: Interestingly Important
Nifty View: Some relief for the benchmark Nifty as it saved itself from a whitewash of all negative days this week. Today the index managed a smart bounce back to gain 0.2%% for the day to close at 15,741. The good aspect of this bounce back is the fact that it came from our anticipated zone of (15,650-15,700). Nothing to be too excited about right now as the underlying trend is still down and is likely to face resistance at around (15,780-15,800). It’s an interesting juncture of the market now as a failure to sustain above 15,800 will definitely set in the next leg of selling and so we should be extra careful next week while adding long trades. This cautiousness is for short term trades only. The long term trend is UP and intact and these kinds of corrections are healthy for the overall trend.
Thank you for following my work and please feel free to share your thoughts and suggestions.
Trade Well. Trade Wise.
Stop Hunted, Strong Bounce from Daily Support look promising.Technical analysis:
Hello everyone, welcome to this quick update:-
As said closing is still pending in the tagged post. #Bitcoin dumped hard below its daily support and reached around $28,800. A couple of hours later, quickly moved up above its daily support. A huge amount of stop loss was triggered. Currently, #Bitcoin is trading around $34,000, approaching towards its resistance level of $35,100 - $35,800. #BTC needs to cross the resistance to have some bullish pressure.
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Mentorship InstaView 21 June’21: Nifty celebrates “World Yoga Da
Nifty View: Benchmark index Nifty stretches itself up with today’s 52 points up move in today’s session. The state of heightened volatility continues as the index attempts to reclaim its underlying short term UP trend. We are now at a critical juncture as the index needs to deal with the immediate short term resistances of (15,750-15,800). The “Bulls” need a break above this range and of course to sustain above it for any chance of a new life high. For “Bears” this is a fine opportunity and a slip below 15,700 raises the probability of a slide. Strategically these are times to execute either ultra short term intraday trades or extreme long term cash portfolio investments. Short term trades ranging from 2-5 days are much likely to get whipsawed, so try to stay away from them.
Thank you for following my work and please feel free to share your thoughts and suggestions.
Trade Well. Trade Wise.
Nifty 01Feb’21: Doing nothing paid off well Thanks to no steps towards direct taxes and financial markets from the budget today morning, benchmark Nifty rejoiced with a sharp bounce back recovering a major part of the recent correction. Literally a vertical rise from the index if you take a look at the 75min chart. But it’s the sustainability of this rise which is now more important. We should not forget that the recent sell-off of 1K points has been quite unexpected and so one should not completely turn on a dime and go aggressively bullish. Immediate resistances close to 14,500 is an important level to watch for. I sense that the index will consolidate this bounce back as it approaches 14,500. Strategically traders should see out this consolidation and then start to create positions.
Thank you for following my work and please feel free to share your thoughts and suggestions.
Trade Well. Trade Wise.
Hind Petro : Buying opportunity with good R:R (Demand Zone)Hind petro has been bleeding since months. In previous day session it closed at 171 which is its a good support. If you zoom out its chart on weekly time frame
you will find this zone is very crucial for Hind petro (171-164). So, swing short should be avoided and anybody having postiion on short side they must book their profit.
If a bounce came from here and breaks the 175 level buy can be initiated with SL 170.
NESTLEIND - At Supports ... Ripe for a bounce NESTLEIND is at levels wherein supports come in from multiple sources. (16,000-16,150) is the range wherein we can notice clear supports from erstwhile lows and the 38.2% Fibonacci Retracement. Considering the fact that the stock has been under-performing the benchmark Nifty for past few weeks now, there is a high chance that the stock will attempt a bounce back. Look for a move above 16,300 which can infuse buying impetus for a move towards 17,200 and 17,600.
NIFTY INDEX VIEW NIFTY WEEKLY CHART ANALYSIS
-SINCE 9TH 2017 OCT 9950 HAS BEEN A CRUCIAL SUPPORT FOR THE INDEX QUIET A FEW TIMES
-REMEMBER HIGHER THE TIME-FRAME STRONGER IS THE SUPPORT/RESISTANCE
-WE TOOK LOT OF TIME TO BREAK ABOVE 9950 INITALLY
-BUT SINCE OCT OF 2017 WE HAVEN'T GONE BELOW IT
-DUE TO THE PANDEMIC THE LEVEL WAS FINALLY BROKEN IT TRAPPED SOME SHORT PLAYERS
-BUT EVENTUALLY GAVE IN
FIBO-LEVELS
-CURRENTLY MARKET REVERSED FROM ITS 50% RETRACEMENT LEVELS ON THE INDEX
-ALMOST SAME LEVELS ARE VISIBLE ON DAILY CHARTS
NIFTY DAILY CHART VIEW
-IF ANALYSIS ARE TRUE ON THE FIBO AND PRICE ACTION WE CAN CONFIRM THAT WE MIGHT HAVE SEEN A !!DEAD CAT BOUNCE!!
-DAILY CHART SHOWS NEAR SUPPORT AT 8910-8950 AS SUPPORT ZONE
-BUT SEEING THE MARKET REACTION ON MONDAY MAY CAUSE THIS SUPPORT TO BE A WEAK ONE
NIFTY VIEW
-PLEASE NOTE TRADE WITH CAUTION
-I AM NOT USING ANY INDICATORS E.G MOVING AVG ,RSI,MACD ETC.
-REASON BEING THAT THE VOLATILITY IS SO HIGH AND DAILY MOVEMENT IS CAUSING LOT OF DATA TO BECOME OBSOLETE/MEANINGLESS
-THERE WAS NO ROCKET SCIENCE THAT NIFTY WOULD REVERSE FROM LEVELS OF 9950
-WE ALL KNEW IT WAS A CRUCIAL RESISTANCE TO CRACK WHICH WAS POSSIBLE ONLY BY EXTERNAL FACTORS
-EXTERNAL FACTORS
-NOISE FROM THE MARKET(NEWS)
-DEVELOPMENT OF CURABLE DRUG/VACCINE FOR CORONA-VIRUS
-STIMULUS PACKAGE BY THE GOVT.
-REMEMBER EXTERNAL FACTORS MAY CAUSE THE SHIFT IN THE MARKET DYANMICS BECAUSE AS OF NOW MARKET IS ABSORBING THE NEWS GOOD OR BAD
NIFTY TRADE VIEW
SHORT@9350-9380
STOP@9550
TARGET-1@9120
TARGET-2@8970
PLEASE NOTE:-RATES ARE ACCORDING TO SPOT LEVELS
!!PLEASE WATCH OUT FOR INTRA-DAY TRADE VIEW ON STOCKS AND INDEX FUTURES!!
!!STARTING FROM TUESDAY!!
!!9:30-10:00 A.M!!
!!QUESTIONS ONLY AFTER MARKET HOURS!!
!!HOPE TO START THIS FRESH SEGMENT ON REGULAR BASIS FROM NOW ON!!
!!PLEASE PING ME FOR ANY STOCK RELATED QUERIES WILL BE AVAILABLE!!
AshokLeyland - Punctured at the tops-85 - What next ?Suggested at the Tops from 85 (Selling strictly below 85) as per last stock idea- Stock got punctured in impulsive manner to lows at 34.
What Next ?
Strictly - crossing 40 & holding above this level - traders can expect 45 / 50 / 55 & Above 55 - 60/65.
Last Idea Published - 24th Feb 2020
Grasim - Bounce Back from 400 or go to 347Grasim is at strong support currently.
Keep it on Radar for 400 - 410 - 425 +
Considering all global markets are positive today, incase if tomorrow opening is +ve , clearly bounce back is expected.
However incase if falls from this level ... next support is at 347.
Indusind Bank - 150 Points Crack Makes GartleyBest part of financial markets is they never move in straight line - ups & downs - downs & ups that's the beauty of the markets.
Trading Strategy
Plan A (Short Term)
Strictly moving above 1360 levels later holding 1340-1360 zone as support for upside target - 1410-1420 zone
Plan B
Selling later, if stock stops in 1410 - 1420 zone post completing the target as suggested in Plan A. Target for selling as per this plan - 1395 / 1350 / 1320
Plan C
Strictly buying only above 1420 levels for 1440 / 1480 targets upside - Not valid below 1420 levels
Plan D
Continue Long Term Targets as suggested in 15th Jan 2020 Idea - "Tops the Stops - Misses Street Estimate"
Last Video Idea (Click Below) - "Tops The Stops - Misses Street Estimate -High-1585 "
Thanks for watching the video & Have wonderful week ahead.
ICICI Bank find strong support at 200 sma & Bounce with good VolHi Traders,
ICICI Bank find strong support at 200 sma & nice Bounce with good Volume.
Bullish on stock due to below point:
1) Good Bounce from 200 sma with more volume greater than last 20 day average Volume.
2) Big Bullish candle at form at confluence of support zone 375-385 & 200 sma placed at 386.
3) Good risk reward ratio trader to enter.
Target to achieved:
T1 : 423 (Book partial profit 50 % as per risk capacity )
T2 : 443 (Book remaining full profit )
Strict stop loss : 378 as (As Below 200 sma & crucial support at 380 )
Happy Learning );
Disclaimer : This is post only for educational purpose . Do your analysis before taking position or trading.
Probable down move from channel resistanceNifty has arrived the resistance level of the descending channel. If tomorrow price gaps down and moves downward in first 15 min, a short position can be opened with SL above the swing high and a target of 11650.
If price gaps up and sustains over today's high, this trade plan will no more be valid.