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Bank Nifty 1h Chart Analysis 04-07-2022 we can see a breakout in bank nifty in 1 hour Chart frame. 33790 Zone was a strong resistance previously, today that level is broken with a good candle, which gives clear idea how bulls took control last 1 hour. If it breaks 33980-34000 range then we can see a bull run in coming days and there is gap at 33350 range, should fill that first, for further upside movement. If it is coming for retest then previous resistance zone 33790 must act as a support, if it a genuine breakout. For downside we can see a see a solid trend line support. For breakdown, Watch out for this trend line (support Green Color). For this rally main reason is ICICI BANK, looks its 1hour chat for more datils. Now, HDFC BANK and Kotak bank should support for bank nifty rally. In that HDFC BANK is still in side zone and yet to perform. Probable targets , Support are given in the chart. This is not a recommendation, do your own analysis before taking any trade, Give your opinion in the comment section. Happy Trading :)
NSE:BANKNIFTY
by varun_devadiga
Three Genuine Triangle EntriesTriangles are very common and promising patterns. Normally they are considered as continuation patterns in the direction of prevailing trend. I am presenting here three useful entry techniques. None is better than the other and each one has its own strengths and weaknesses. ANTICIPATION SETUP As the name suggests, the trade is taken before the triangle breakout. It is in anticipation of a continuation breakout. Entry is taken at the third touch of the uptrendline. Stoploss is fairly smaller, below previous swing low A, compared to other setups. Stop can be brought up to breakeven as soon as breakout happens. As entry is taken before breakout, the chances of hitting the smaller stop are fairly high. BREAKOUT SETUP Entry is taken above the prior swing high B with stop below the recent swing low C as shown in the chart. The stoploss is relatively large but chances of hitting the stop is also relatively less. CONFIRMATION SETUP Many a times, after the breakout, price pulls back to the triangle for a retest. The entry is taken above the swing high E formed after the breakout as shown in the chart. Stop is kept below the recent retest swing low F or the last swing low D inside the triangle. Stop may be large in this case but it comes with higher chances of a successful trade. TARGETS Target in all the three cases should be the height of the triangle, shown in the chart, as measured from the breakout point of the triangle. PRO TIP ♦ The triangle breakout should occur within 1/3rd to 3/4th the length of the triangle (see chart). The late breakouts are not considered as valid continuations and may end up as a trading range. ♦ Ideally volume dries up as the price consolidates in a triangle. Volume starts picking up as the breakout occurs which is a good sign. ♦ Triangles setups are valid in both uptrend and downtrend. I hope the above information would be helpful. Thanks for reading 😉
NSE:NIFTYEducation
by Bravetotrade
11
Dual breakdown in Brent !!!After huge rally it seems that UKOIL which was stuck in range where distribution took place, can break the range down. This rally was indicated by me when Brent was 94, have a look: But, now it looks like the rally is over and it could start stepping down. Also, it has given a breakdown from head & shoulder pattern and along with this UKOIL has also broke the previous trendline support. A closing below 97 can bring a steep fall in Brent but aggressive traders can initiate short here also.
TVC:UKOILShort
by Chaser30
Head and Shoulders Formation on BALRAMPUR CHINIThis script is forming Head and Shoulders formation on Daily and Weekly Timeframe. We can initiate a short position on this script when a daily candle closes below 350 level neckline. Stop loss for this trade can be placed above 380 levels. 1st Target: 290-300 if this major support of 290-300 is breached then we can see much more lower levels around 220-250. Risk Reward for this Trade: Target1 R:R- 1.5 Target2 R:R- 3.0 !!! This is not an investment advice and do your own due diligence before investing/trading on any script !!! !!! This post is only for educational purposes and not advising anyone to trade on behalf of this trade !!!
NSE:BALRAMCHINShort
by ironscar_11