Get started

Budget

BUDGET 2024: Technical Outlook & Money Flow in Different SectorsNSE IT SECTORS NSE:CNXIT TREND: POSITIVE India IT sector is currently on an upward trend. After a bullish Pole & Flag pattern was spotted on the chart, a breakout occurred leading to a surge in index and the formation of a bullish Pennant pattern. Encountering resistance at the 38,600 level, the IT index underwent a correction and consolidation phase. During this consolidation, a Rounding Bottom pattern emerged, suggesting a potential continuation of the trend. Since the breakout, the index has successfully maintained levels above the breakout point and is steadily climbing higher. NSE FMCG SECTORS NSE:CNXFMCG TREND: POSITIVE The chart shows a strong uptrend. In the past, there was a bullish Pole & Flag pattern formation, resulting in a surge after the breakout. The index faced significant resistance at 58,000, causing a correction and consolidation. A Cup & Handle pattern appeared emerged in the chart, suggesting a potential continuation of the trend. The recent breakout in the cup & handle pattern suggests that the FMCG index has managed to stay above the breakout level and is gradually moving higher. NSE METAL SECTORS NSE:CNXMETAL TREND: NEGATIVE The metal industry underwent a period of consolidation time and again in the past. Reaching a peak near the 10,200 level, the metal index consolidated again, and a recent breakdown suggests a potential downward movement. Looking at the downside, the 8,800 level could serve as a solid support, leading to a possible rebound in the index. NSE MEDIA SECTOR NSE:CNXMEDIA TREND: NEGATIVE A bullish Ascending Triangle pattern was visible in the chart earlier. Instead of breaking upwards, the index experienced a breakdown, marked by a powerful bearish marubozu candle. Furthermore, the support level was breached, leading to a notable decline. The index eventually found support and traded within a box pattern. Following the breakout, the index rallied but encountered resistance at the former support level, now acting as a resistance post-breakdown. It is anticipated that the Media index will continue to decline and potentially find support around the 1,750 level.
NSE:CNXITEducation
by GoodluckCapital
BIRLACABLE - DAY CHART TURNAROUND SOON...NSE:BIRLACABLE CHART ANALYSIS 🧐 Time frame - Day chart 🔹Trend: Correction Downtrend is in effect with low volume fall. 🔹 The last swing low made is insignificant and formed a double bottom structure, with a small RSI divergence. 🔹View: Breakout of a trendline and horizontal range around 263+ can trigger a change in trend, from down to fresh up trend. Promoter holding is increasing cause it had a slow correction phase for a while now and it hit the major trendline support zone so that will be a high probability setup for a potential up move. 🟢Entry: 30 min close above 263+ ♦️Risk:- 230 on weekly candle closing below. 🎯Targets :- 290,350+ Use position sizing and follow your money management rules too. Detailed analysis on chart, Study it and mark levels on your chart.
NSE:BIRLACABLELong
by SANJAYPATIDAR_
1
#BudgetUnion Kothari Sugars And Chemicals Ltd. MULTIBAGGER StockThis Company should be next Multibagger Stock in 2024-2025. This stocks has potential to gave a unpredictable growth. This Company is engaged in manufacturing of Sugar, Alcohol and Power. It also caters to the demand of both domestic and International markets. And the most important thing is that it manufactures ETHANOL. The company has shown a good profit growth of 29.25% for the Past 3 years. The company has shown a good revenue growth of 20.02% for the Past 3 years. The company has significantly decreased its debt by 18.35 Cr. Company has a healthy Interest coverage ratio of 15.09. Company’s PEG ratio is 0.74. The company has an efficient Cash Conversion Cycle of 24.35 days. The company has a good cash flow management; CFO/PAT stands at 1.39. The company has a high promoter holding of 73.53%. The company has a strong degree of Operating leverage, Average Operating leverage stands at 18.70.
NSE:KOTARISUGLong
by TheGoldenRatio-6
No to 30% Tax on F&O Trading!Recently, there have been reports that the government is considering imposing a 30% tax on trading in Futures and Options (F&O). This move will be devastating for many retail traders who earn a living from trading. F&O trading is not gambling! Traders invest time, effort, and money to make informed decisions based on market trends and analysis. It's not a game of chance like lottery or cryptocurrency. F&O trading requires skill, strategy, and dedication. Taxing F&O will crush small traders If this tax is implemented, it will be a significant burden on small traders who are already struggling to make ends meet. This will lead to: Reduced participation in the market Increased risk-taking (traders may take unnecessary risks to recover losses) Flight of talent (traders may leave India for countries with more favorable tax regimes) Don't punish responsible trading We urge the government to reconsider this proposal and instead focus on creating a more favorable environment for responsible trading. This includes: Simplifying tax regulations Providing education and awareness programs Encouraging innovation and growth in the trading ecosystem Join us in opposing this proposal! Let's protect the interests of responsible traders and ensure that India remains a hub for trading and financial growth. #SaveTradingInIndia #NoTo30PercentTaxOnFandO #ResponsibleTrading
NSE:NIFTY
by ard-komercisto
Market Bullish NIFTY 50 Ready to Set New Record High.Greetings everyone, I think that either the NIFTY50 or the entire market is entering a Bullish trend. Starting from today or possibly in the upcoming week, it seems likely that the market will commence a UP ward direction. This projection is based on two potential factors: -> Today Imp Resistance level 21517 Crossed. -> We have strong Support in 21250 and it was our reversal trend. -> Today Bullish Marubozu Candle Key Levels: Entry Range: 21700-800 Stop Loss: 21517 Target 1: 21900 ( Probably achieved tomorrow) Target 2: 22000 Target 3: 22378 & 22654 Strategies to Consider: For those involved in options trading: Consider a small hedging strategy. For those engaged in futures trading: Implement a strict stop-loss strategy. Important Note: Make risk decisions in line with your available capital. It is strongly advised to refrain from trading with borrowed funds or your entire savings, drawing from personal experiences.
NSE:NIFTYLong
by NaveenTTR
2
25 Jan ’24 — BankNifty looks, walks & talks like a BEAR, is it?BankNifty Analysis - Stance Bearish ⬇️ The unusualness of the last 30mts was more obvious in the Banks - HDFC, ICICI, AXIS and Kotak. Seems a news/event is brewing and we may get some clarity in the coming days. The good thing is that it broke out pretty late in the day, which meant the expiry was not totally screwed. 4mts chart How many Analysts you know are bearish on the banks, most of them we follow are Permabulls. Seems like the criticism we are getting is obvious in the price action today. Except for the last 30mts - every other minute belonged to the bears today. When news/event breaks out - the best thing a technical analyst could do is close the position and wrap the day. 63mts chart BN got support from our marked SR level of 44542. The next level below is 44068 which is the strongest SR level in the proximity. The history of 44068 levels goes back to Dec 2022 (quite a long way back). Our stance of bearishness continues and hope Monday belongs to the bears.
NSE:BANKNIFTYShort
by viswaram
25 Jan ’24 — Unusual last 30mts of price action, could be a NEWSNifty Analysis - Stance Neutral ➡️ Recap from yesterday: ”The issue for the bears from the 63mts chart is the W formation (double bottom). To prove they are still in the game, the Bears must create a big fall and ensure an M pattern supersedes the W. Due to the momentum the bulls got today, we are changing the stance from bearish to neutral. The first target would be to take out the 214991 resistance and nullify the 5 RED candles formed on 23rd. If we were to move downwards, the swing low of 21372 has to be taken out tomorrow itself.” 4mts chart The main objective of the morning session was spent undoing the bullish surge yesterday. The selling pressure got arrested by 11.00, by then we had already fallen 214pts ~ 1.00%. We then had a quick surge till 11.39 followed by a gradual coo off. The LOD remained at 21247 proving that the BEARS are still in the game. What surprised all of us is the price action in the last 30mts. It did not look like a technical action, most likely it could be a news/event that broke out to a select group of people or insiders. Hope we get some clarity on that by Monday when we reopen. 63mts chart Yesterday’s W pattern is no longer valid as today’s action has nullified it. Our stance continues to be neutral with a slight inclination to the bearish side. Seems like FIIs are not done unwinding their positions - the run-up to the Budget 2024 looks interesting.
NSE:NIFTY
by viswaram
BANK NIFTY FOR BUDGET DAY 2023 Hello guys here I am sharing the support and resistance levels for Bank nifty for the Budget day tomorrow support and resistance are mentioned on the 30 minute time frame chart simple trading idea is break and close above of resistance so we can go for buy and if break and close below support we can go for a sell because on 30 minute time frame chart price is consolidating in a parallel channel se we can expect a sharp move after a range breakout. STOP LOSS- Stop loss must be close above or below from resistance or support of the opposite direction of your trade on the same 30 minute time frame chart. This is not and trade or investment advice. This idea is meant for learning only. Invest your capital at your own risk.
NSE:BANKNIFTY
by AMIT-RAJAN
NIFTY FOR BUDGET DAY 01-02-2023Hello guys here I am sharing the support and resistance levels for nifty for the Budget day tomorrow support and resistance are mentioned on the 30 minute time frame chart simple trading idea is break and close above of resistance so we can go for buy and if break and close below support we can go for a sell because on 30 minute time frame chart price is consolidating in a parallel channel se we can expect a sharp move after a range breakout. STOP LOSS- Stop loss must be close above or below from resistance or support of the opposite direction of your trade on the same 30 minute time frame chart. This is not and trade or investment advice. This idea is meant for learning only. Invest your capital at your own risk.
NSE:NIFTY
by AMIT-RAJAN
Nifty reversal zones on Budget day Feb 1, 2023Note: Always try to find a good #price action patterns or any #candle stick patterns in marked zones in smaller timeframe to take entry with small stop loss. Or can take entry based on one 5 min candle close below or above the zone with SL previous candles high or low (*try to avoid big candles). (Color code for #Support & Resistance zones: Red - Sell, Green - Buy, Price once cross above resistance it is obvious it will work as support, vis versa price cross below support zone ). Please understand that market can break all the support and resistance anytime. If any doubt for take entry in price action patterns, please ask in comment box, i will try to help. Disclaimer: Im not tip provider and this chart is not indented to take trade in my levels, It is shared here for learning purpose. Trading in this pattern is all your own risk. #Nifty, #budget2023
NSE:NIFTY
by Elango-ragavan
Nifty: Budget time and chart set upNifty Chart set up - In the last 2 days Nifty has closed in positive territory, however it has found it difficult to close above 50% of last red candlestick which comes at 17740 odd levels - a lot of resistance between 17740-18140 - on the lower side Nifty has a risk of falling towards 17331 / 17188 / 17096 odd levels Derivative Data - FIIs have gone in to the Budget day with negative bias My view Given the data and chart set up, I'm not too optimistic about the reaction to Budget announcement. Trading strategy I would be playing this market defensively. - Trade with low capital - Reduce Long positions - Take calculative short positions which would have inbuilt protection till 18250 odd levels Trust you would find the analysis and insights helpful. Take care and play safe Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:NIFTYShort
by indiamarketoutlook
Budget special analysis of Banknifty Hi traders, One of the biggest day of every traders and investors. So my first request to every new traders and investors see the tomorrow's market avoid trading tomorrow. It is not easy to trade on that day. Who are capable of understanding the levels and price action properly then only trade otherwise avoid don't use any indicator it will not work for sure. Let's discuss tomorrow's level:- Firstly don't think market will be bullish because everyone is seeing that there is a reverse head and shoulder where the retailers can be trapped easily. So think smartly, trade smartly. First demand zone :- 40335-40161 Second demand zone:- 39673-39640 First Supply zone:- 40750-40930 Second Supply zone:- 41807-41915 If market breaks 40940 and makes higher highs then we can go for long. If market makes higher highs or lower lows from demand or supply zone in given chart. Summary:- Don't make any momentum in mind it may be devastating for your account. Use trailing sl (7 smma) SL IS MUST FOR TOMORROW
NSE:BANKNIFTY
by pn202377