Get started

Breakdown

Nifty – Topped out ?After making a high around 11080 levels on Thursday, Nifty NSE:NIFTY witnessed heavy selling pressure and could not hold on to 11000 levels. I can see an Evening Star like formation here with a large Bearish candle. Sold 11100 calls in the morning as soon as it broke 11000. There are multiple supports around 10900 and 10700 levels. However, I think call writers are safe so long as Nifty stays below 11000 levels. (Can think of exit if it bounces back and sustains above 11000) Good opportunity to go short here with a small stop loss. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:NIFTYShort
by nano6yogesh
Nifty: July Could Be DecisiveI believe that this month could decide a clear direction for us. This week it had a breakdown below 10700 support level and an important trendline (of course signs of bearishness). But the Friday's pullback was as strong as the breakdown. To my surprise there was no sustained reaction from 10700 and it managed to close above support. What Next? Scenario 1 : We may be retesting the breakdown area. In that case, we should see some signs of reversal in the 10700-10765 zone. If we resume the downtrend from there we will be heading towards 10520 and 10430 next week. Scenario 2: Breakdown that we had last week fails. The short covering above 10850-10900 zone will give enough energy to break the long term resistance trendline on sustained basis. Sustaining above 10765 would be the first sign for bears to get cautious. So let's see what happens. All the best for next week. Regards
NSE:NIFTYEducation
by Bravetotrade
5
Nifty – Heading Southwards ? Today Nifty NSE:NIFTY broke the crucial support at 10488 levels with a large Bearish candle. It is possible that new shorts may have been initiated by big players on the break of this support (As the stop loss is very small giving a good Risk Reward ratio). This level can now act as a potential resistance if any short covering rally occurs. Staying below 10488 can take Nifty back to 10120-10140 levels. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:NIFTYShort
by nano6yogesh
Banknifty – Looking weakToday Banknifty NSE:BANKNIFTY broke the crucial support around 26000 levels with a Bearish candle whose close was almost at the low of the candle. With PSU banks’ results (SBI NSE:SBIN , Bank of Baroda NSE:BANKBARODA ) lined up in the coming week, looks like the selloff in banknifty will continue. If Banknifty continues to stay below 26000 levels, we might witness another 1000 points fall to around 25000 levels in the coming weeks. If it manages to pull up above 26000 levels, we may see a range bound action with lower end at 26000. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:BANKNIFTYShort
by nano6yogesh