RISING WEDGE pattern in bigger time frame..?As we can see BANKNIFTY after much strength is heading towards its important trendline support followed in monthly chart. It can be seen in the form of rising wedge pattern. After much of rally, the participants are in greed which which is also a matter of caution hence aggressive LONGS should be avoided for now till the trendline above is not breached so plan your trades accordingly.
Candlestick Analysis
NIFTY attained new ATH..!!As we can see NIFTY managed to sustain itself at higher levels despite weak opening and achieved new ATH despite we were planning for short side. Now that we can see NIFTY has breached the structure and sustained itself at higher levels, Only opening could lead to further moves. If opens weak then we may again see NIFTY whirling inside the structure leading to weakness so plan your trades accordingly.
ATH_RELIANCE Today (26-06-2024) Reliance stock is closed at ATH and looking for some upside momentum.
Positive Note:- 1) Stock closed @ ATH today.
2) Stock closed With Bullish Engulfing Candle @ Monthly open which is acting as support.
3) Indian Indices Nifty 50 is also closed Higher today.
4) Still Now Large cap (Reliance) stocks have not contributed much to Nifty 50, Now If
Reliance stock gives contribution to Index and Index Will reach to ATH again.
Negative Note:- 1) Premiums are high for Coming Month July_2024.
2) Wait for pullback and Take opportunity in F & O.
Happy Trading!! Only for Educational purpose.
NIFTY ready to fall now..?As we can see despite NIFTY’s strength, it couldn’t break above the structure and closed inside the structure which can result in sluggishness. Hence as long as NIFTY is between the structure we can’t define any specific directional move and can expect a sideways to weak market in coming trading sessions so plan your trades accordingly.
Nifty weekly anlysis for 25/06/24.Nifty on the weekly time frame has formed a doji candle and closed only 35 points higher.
Market is stretching a lot and there are chance of showing some profit booking or reversal as the candle on the dialy charts suggest.
For last 5 trading sessions, nifty has remained in a 200-250 points zone.
If nifty starts trading below 23415 levels, it can test minor support levels around 23300 and travel towards 23230 levels.
Major support levels :- 23230, 22925
Resistance levels :- 23659
Nifty from the low of this month has travelled 970 points while still 5 trading session are there.
In case of a break out, the market will be in an uncharted area can travel to the next thousands.
On smaller time frame( 60 minute), nifty is trading below the 20 ema, resting on 50 ema and there can be chances of it testing the lower moving average.
Watch for the moving averages trading strategy giving a entry or a fake down.
Wait for the price action near the levels before entering the market.
NAVNETEDUL - Weekly AnalysisIn the Weekly Chart of NAVNETEDUL ,
we can see that, after strong breakout of Cup & Handle Pattern and retesting the Trendline,
it went into consolidation.
It has now made a Inside candle near resistance.
Enter on breaking its High with Low as SL.
Expected momentum is shown in chart.
BITCOIN SETUP TRADE WIH 1:5 RISK REWARD A good selling setup BITCOIN SETUP TRADE WIH 1:5 RISK REWARD
A good selling setup detected on BTCUSD
It's showing a BULL MOVE due to these reason
1. It's following THE 60 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bullish pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
BITCOIN SETUP TRADE WIH 1:5 RISK REWARD
A good selling setup detected on BTCUSD
It's showing a BULL MOVE due to these reason
1. It's following THE 60 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bullish pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
NIFTY looks ready to move As we can see NIFTY had been following the structure since last week now and has been more like sideways ever since. Finally after a series of channelised consolidation, we can expect a break anytime sooner in NIFTY with directional move so we can make any new position on either side break so plan your trades accordingly.
BITCOIN SETUP TRADE WIH 1:5 RISK REWARDBITCOIN SETUP TRADE WIH 1:5 RISK REWARD
A good Buying detected on BTCUSD
It's showing a BULL MOVE due to these reason
1. It's following THE 60 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bullish pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
BITCOIN SETUP TRADE WIH 1:5 RISK REWARD
A good Buying detected on BTCUSD
It's showing a BULL MOVE due to these reason
1. It's following THE 60 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bullish pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
JUBLFOOD formation of Double BottomDouble bottom chart pattern formed in JUBLFOOD and pattern will active only after break and close above 470.
It is also important to note that JUBLFOOD is bounced back from prior support level with formation of bullish candlestick called Hammer.
Price is also pierced the downtrend line and currently price is consolidating near neckline.
We have also found inside bar pattern near the neckline, if upside breakout is sustained then we can get sharp up move or else pattern will be invalid.