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....
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...
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 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.
Best 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...
Hi 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...
Nifty 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.
Price action - Bounce on 15 EMA and if tomorrows candle is also green and above the 15 EMA then enter for short term target of 628
Ichimoku positive and future kumo is green.
Note : This is for educational purpose only.
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