Bounceback
Mentorship InstaView 01 Nov’21: Impressive
Nifty View: Benchmark Nifty index impresses with a near 300 points gain in today's trading session. It was a move that was supported well by most of the sectors and heavyweight stocks. In terms of levels, the index at a close of 18,008 will now deal with the immediate short term resistance at the psychological 18K mark. In fact, a closer look at the volume profile and vwap reflects that it is (18,100-18,150) which can act as a stronger resistance for the index. Let us stay cautiously bullish and observe whether the index manages to sustain above 18,000.
Please watch the video for a detailed analysis of the index and stocks.
Thank you for following my work and please feel free to share your thoughts and suggestions.
Trade Well. Trade Wise.
IDBI Bank - Bounce Back From SupportThe stock broke out few weeks back, retested the support and bounced back.
Considering the setup in Banking, it looks likely to reach the 52W high and go beyond that.
Keep a stop loss around 49 levels.
Please follow us for more trading setups like these.
If you have any queries/suggestions related to above pattern, feel free to type below in the comment section.
Do show your love by pressing the like if you liked the idea.
TCS - Near Support - Bounceback ExpectedThe stock touched the support line today and has shown a minor bounce back.
Trade can be initiated with a strict stop loss of 3440, it offers a good risk reward ratio.
Please follow us for more trading setups like these.
If you have any queries/suggestions related to above pattern, feel free to type below in the comment section.
Do show your love by pressing the like if you liked the idea.
Mentorship InstaView 21 Oct’21: Banks Save the Day
Nifty View: A decently volatile day for the benchmark Nifty50 index as it closed down a little over 60 points in today's session. So far, we have three consecutive negative days from the index, losing almost 3% on a high to low basis. The short-term trend is still up, but vulnerable as the index nears the psychological level of 18,000. However it was clearly the banking stocks which saved the day today. Banknifty index was up over 1% led by strong performance from stocks like Kotak Bank and ICICI Bank. Strategically, let's continue with the bullish bias and be careful especially if we are trying to trade mid and small cap stocks. It will be prudent if we focus more on the large gaps at this juncture in the market. Please watch the video for a detailed analysis of the index and stocks.
Thank you for following my work and please feel free to share your thoughts and suggestions.
Trade Well. Trade Wise.
BEST BUY AVAILABLE IN PHARMA STOCKS According to my analysis, I see a good buy in WOCKPHARMA @482-484 in this bullish market.
Reasons:
1. Supertrend* generated a buy signal.
2. Average Directional Index is above 20** and is rising.
3. Close to 200 ema, Bounce Back Expected.
4. Near PIVOT R2, May act as support now.
Time frame: 1day, Strategy Type: Swing Trade
*Supertrend settings= 14/3
**ADX above 20 generally suggests that stock is not in sideways.
I firmly believe that WOCKPHARMA can give a 5-20% return in 10 to 15 days.
COMMENT YOUR THOUGHTS ON THIS:)
NOTE: This is my personal opinion only, not a tip or something. I am not SEBI registered, this is for educational purposes only, you may use my strategy but I will not be responsible in any way for the profit or losses if occurred.
Mentorship InstaView 17 Aug’21: Googly
Nifty View: Seventh consecutive positive daily close from the benchmark Nifty with today’s 40 points up move. Yesterday's “Shooting Star” pattern in the intra-day charts played out at the first half of today’s trade followed by a high-momentum bounce back and we are now back to yet another new life-high. Now, it's these kinds of days that start to create price-momentum divergences. Because price corrects relatively slower compared to the following rally. However these divergences do not necessarily lead to reversals, they are signs of exhaustion which only the price behaviour confirms. At the current juncture, today’s low of 16,483, plays the role of short term supports, which essentially means that the index has to break and stay below 16,500 for any significant follow-through weakness. Till then, maintain a bullish bias and look for long trades only.
Thank you for following my work and please feel free to share your thoughts and suggestions.
Trade Well. Trade Wise.
Mentorship InstaView 07 July’21: A new life high as long as …
Nifty View: Benchmark Nifty managed a fine bounce back in today’s trading session - up 60 points to recover most of yesterday’s correction. The short term support zone of (15,800-15,830) though breached once in the opening held well throughout today’s session. This is a good sign as anticipated supports held prices up raising possibilities of a new life high soon. And for that, I sense that today’s low of 15,788 should not be breached. In other words, maintain a bullish bias as long as 15,788 holds. A close below this level and short term traders should shy away from building long positions. On the upside, the anticipated resistance zone is at (15,890-15,910) and that's exactly where the index has closed today. So a short term intraday dip at the open tomorrow should not be discounted.
Thank you for following my work and please feel free to share your thoughts and suggestions.
Trade Well. Trade Wise.
Weekly Analysis of BTC-USDBTC witnessed a volatile last week, from its low of $31K to close the week above $39.3K. On the weekly TF, it gained by ~9% and formed a Hammer candlestick pattern which depicts reversal is on the cards, mainly backed by positive news from El Salvador which have adopted BTC as a legal currency. At the time of writing, BTC is trading slightly above $40K.
Bitcoin after dropping by ~50% from its All-Time High has found its support in the range $34K- $30K, this range earlier also acted as a strong support base during its journey to ATH. The nearest support is now placed at $36.9K, the next support is presented by its 50-WEMA which is placed at $33.9K.
On the higher side, the immediate hurdle is placed at $41K, once we get decisive closing above this level, the next significant level to watch out for is present at $43K, followed by $48K.
On the Daily Time Frame, Bitcoin for the past 26 days has been consolidating in a narrow range of $34K- $40K. On June 14, BTC gave a close above $40K and is currently sustaining above that level, which depicts that buying momentum can continue in the coming sessions.
HINDUSTAN UNILEVER :: LONGPast movement shows that Hindustan Unilever always bounced back from the channel bottom::
I am on a Long side... and You???
Do follow my page and inbox me for the Entry/Target and SL..
Disclaimer: I may or may not trade this setup, do calculate the risk and consult your financial advisor before initiating any trade.
Aditya Birla Fashion BullishWeekly Supertrend in the green = bullish
Daily William%R coming back from oversold range = bullish
Stock bouncing back from near 50% retracement level = bullish
Support taken just below the previous resistance level of 215 = bullish
Buy with a stop at 209 for the target of 240 and above