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08 Jan ’24 — Nifty Breaks the Trendline This Time — PostMortemNifty Analysis - Stance Bearish ⬇️ Recap from yesterday: “Our stance is still neutral with equal possibilities in either direction. Since Nifty50 is following the ascending channel’s top trend line — the chances of going up look more probable. To go down — we need news flow/event as there is no technical weakness.” 4mts chart link The gap up open today and a thrust upwards gave the false impression that we might have an up day. What happened on the contrary was a breach of the trend line. See the circled portions on the chart. At 09.47 the attempt was unsuccessful but at 10.51 the support gave away. Once we breached it, the price action started to pick up momentum. 63mts chart link The breach of the upper trend line of the ascending channel is quite visible in the higher time frame. Ideally, it is not a pure bearish signal as we are technically still in the bull market. We are changing the stance to bearish from neutral for the ultra-short-term only. If Nifty50 manages to crawl back up the top line - we will have to reverse the stance to neutral. In case Nifty manages to fall further - it will be interesting to see how it reacts to the bottom line of the channel.
NSE:NIFTYShort
by viswaram
Nifty Analysis: Double Top Alert! 🚨 Heads up, traders! Nifty has formed a double top pattern right at the peak. While we hesitate to scream "downtrend," signs point to a potential correction. 📊 Technical Breakdown: 1. Initial confirmation with a neckline break. 2. Crucial retest completed for added confirmation. 🎯 Targets & Stoploss? Refer to the chart for specified levels. Brace yourselves for potential market moves! Disclaimer: Market predictions involve risk. Trade wisely. #NiftyAnalysis #DoubleTopPattern #MarketAlert 📈🔍
NSE:NIFTYShort
by iamrk7
03 Jan ’24 — Nifty gets a stance change, Bears are back!Nifty Analysis - Stance Bearish ⬇️ Recap from yesterday: “The first target for a trend change will be the breach of the ascending channel top line approx 21530 levels. From a technical analysis perspective, we had the 3 black crows at 14.30 yesterday and the first 2 candles today.“ 4mts chart link We got our first target of 21530 hit today and as soon as the channel top line got breached - the stance changed to bearish. Technically Nifty is far ahead of BankNifty as N50 has only broken into the channel whereas BN has broken out. The status change is just because of momentum that is favoring the Bears. Come 2024 and they are back! 4mts chart link NiftyIT deserves a special mention, it fell a whopping 2.59% today. There is severe competition going on between NiftyIT and BankNifty on who wants to become the “leader” in trend reversals. 63mts chart link On the higher time frame, you can see how N50 is just entering the channel. If the conditions stay like this for tomorrow - we can see a good trending move tomorrow. The first threat to keep in mind is the rejection that came on 21st Dec when N50 bounced from the channel topline. Global macros are much worse today and we are hoping tomorrow’s expiry should belong to the bears. Our first target will be 21409 and then 21310.
NSE:NIFTYShort
by viswaram
TATAELXSI Stock Analysis - Flag and Pole FormationTATA Elxsi forms the flag and pole pattern, the market is at a crossroads, presenting traders and investors with both opportunities and risks. A careful analysis of the breakout or breakdown, along with volume confirmation, will be crucial in making informed decisions. Remember, while technical patterns provide valuable insights, it's essential to consider other factors such as fundamental analysis and market conditions. Stay vigilant, and let the market unveil its next move.
NSE:TATAELXSI
by Akshayhanda
NIfty Intraday levels 21/Aug/23Good Morning Traders, Nifty trading at support zone, we might can see a reversal from current levels to downward slopping trendline. Best action can be seen only if nifty breaks its important support zone or give breakout of downward slopping trendline. We might can see upside momentum also in coming days. Let's see we will just work according to price action. Important levels for Nifty:- Buy in between 19275-19300. Keep stop loss at 19245 Targets we can see in upside 19373/19416. Note:- Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction. Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou.
NSE:NIFTYLong
by TraderRahulPal
Buy Jubiliant IngreviaNSE:JUBLINGREA is consolidating within a broader range of rs 80. and currently it consolidation in the lower range. One can buy the scrip at Rs. 414 with a stop loss of Rs. 385 on daily closing basis for a target of Rs. 485 Exit the position if the stop loss triggered on DCB. DO YOU WANT ALL MY RESEARCH FOR FREE THEN DON'T FORGET TO FOLLOW ME. I AM EAGERLY WAITING FOR YOU COMMENTS ON THE STUDY... Disclaimer: Content shared is for information and education purposes only and should not be treated as investment or trading advice. Please do your own analysis or take independent professional financial advice before making any investments based on your own personal circumstances. Investment in securities are subject to market risks, please carry out your due diligence before investing. And last but not the least, past performance is not indicative of future returns.
NSE:JUBLINGREALong
by raigvivek
5
HINDUSTAN UNILEVER BREAKS DOWN AFTER POOR EARNING RESULTSTECHNICAL ANALYSIS : ASCENDING RECTANGLE BREAKDOWN - Price has broken down from the ascending rectangle pattern with confirmation VOLUME SPIKE - On 21st july, price has shown huge volume spike with the breakdown indicating strong downward momentum 50D SMA BREAKDOWN - Price has broken out of the 50D sma after consolidating above it for a long time making it a very strong resistance zone STRONG SUPPORT-RESISTANCE ZONE BREAKDOWN - A very strong support-resistance zone level has been broken down by the price which had earlier acted as either strong support level or strong resistance level multiple times OVERSOLD RSI - Cherry on the cake is that rsi is oversold indicating very strong momentum behind the breakdown FUNDAMENTAL ANALYSIS : EARNING MISS - On the jun'23 quarter HUL has missed its revenue forecast by ~2.5% & profit forecast by ~4% indicating poor performance by the company STIFF COMPETITION - The regional players who had left the market during peak inflation have returned as inflation subsides indicating even higher competition for company MUTED DEMAND - Company has said that the demand in rural areas has not yet picked up and consumers are still preferring unbranded alternatives compared to its Tea brand TP - 2700 SL - 2560
NSE:HINDUNILVRShort
by peace_lover
What is next after breakdown of Nifty| Levels For today 24/07/23Good Morning Traders, i hope you all will be doing good in trading. On friday our sensex hero zero trade has done really well, i hope you all will have made good profits. Let's focus on today's Nifty analysis. As i discussed earlier that was not a proper bullish flag pattern, but on thursday it has given huge momentum, and we also shifted bullish side that day. Well we are traders, what we see, we do. But after all everything, our analysis has done accurate as discussed on thursday nifty levels. So now as we have seen already breakdown in it, so chances are high we can see sailing on higher side of lower band of channel. So if you see any bearish kind of candlestick then you guy's can go for sailing side with given small stop loss on chart. Well i have marked everything but still i am writing all the important levels. Important levels for Nifty:- Buy above 19848, if levels sustains at least for 30 mints Target we can see on higher side 19886/19924 Keep stop loss at 19802 Sale below 19683, if levels sustains at least for 30 mints Target we can see in lower side 19623/19568 Keep stop loss at 19802 Note:- Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction. Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou.
NSE:NIFTY
by TraderRahulPal
Capitalizing on Relative Weakness: Short ICICIBANK Long Nifty 50Introduction: In the dynamic world of trading, identifying relative strengths and weaknesses among stocks and indices is crucial for maximizing profits. This idea focuses on the underperformance of ICICIBANK compared to the Nifty 50 index. By analyzing the daily charts and employing a ratio chart, we can spot a potential opportunity for a pair trade. This write-up aims to provide an analysis of ICICIBANK's current trend, its ratio to Nifty 50, and how traders can profit from this relative weakness. Section 1: Understanding the Ratio Chart To gain further insights into ICICIBANK's relative performance, let's examine the ICICIBANK/Nifty 50 ratio chart. This ratio chart compares the price performance of ICICIBANK to that of the Nifty 50 index. By analyzing this chart, we can assess ICICIBANK's strength or weakness relative to the broader market. The ratio chart reveals a broadening wedge pattern breakdown. This breakdown suggests a bearish outlook for ICICIBANK, indicating a potential continuation of its underperformance against Nifty 50. Additionally, the ratio has been consistently trending within a downtrend channel, emphasizing ICICIBANK's persistent weakness compared to the broader market. Section 2: Pair Trade Strategy Based on the technical analysis of ICICIBANK and the ICICIBANK/Nifty 50 ratio, a pair trade strategy can be implemented to capitalize on ICICIBANK's relative weakness. The pair trade strategy involves simultaneously shorting ICICIBANK and going long on Nifty 50. By shorting ICICIBANK, traders can profit from its anticipated further decline, while being long on Nifty 50 allows them to participate in the potential upside of the broader market. It is crucial to effectively manage risk when implementing this pair trade strategy. Setting appropriate stop-loss levels based on ICICIBANK's volatility and the overall market conditions is essential. Additionally, continuous monitoring of the ICICIBANK/Nifty 50 ratio is necessary to assess any changes in relative performance and adjust positions accordingly. Conclusion: The current technical analysis of ICICIBANK, along with its ratio to Nifty 50, suggests a bearish outlook for the stock. Traders can consider implementing a pair trade strategy by shorting ICICIBANK and going long on Nifty 50, capitalizing on the relative weakness of ICICIBANK compared to the broader market. One has to closely track the above ratio chart for the stop and target level for the pair trade
NSE:ICICIBANKShort
by T_Harth