Rico Auto BullishRico Auto is breaking all old Highs
July 2005, Oct 2017 July 2023
Keep Watch on this
Fresh Breakout above 144
Targets 169.195 in 2 quarters
Check Fundamentals though
Candlestick Analysis
NIFTY DAILY - 4/3/2024Index open with positive note and made all time high that is 22440.
Index has formed Doji candle on the daily chart at the top of the market which indicates thug of war between buyers and sellers as the closing was near the opening levels.
We may see trend reversal in near future.
Next levels for nifty will be 22520 upsides and 22303 level downsides.
⚠️ Important: Always maintain your Risk & Reward Ratio.
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Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
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Intraday trade in Bajaj Finserv 05/03/24.
Bajaj finserv has tested the upper resistance levels and there are chance of it giving a break out.
An intraday bullish trade can be captured in the stock.
If there is a gap up opening and price is around 1625-30, with a strict stop loss around 1615-20 an entry can be made.
Target levels :- 1647, 1660.
If the Cup and handle formation pattern follows up, Stop loss can be trailed with atleast 1675 as final targets.
Wait for the price to sustain above the resistance zone. Watch the movement in the indices to correlate.
Price action must be watched around the levels and trade accordingly.
Eicher motors around the resistance zone (26/02/24)
The stock has taken a nice support from the weekly 20 EMA and has closed around the previous candle close.
There is a resistance zone around 3950-3985. If this resistance is clear and price sustain above the level. There will be chance of stock touch its recent high around 4160 level.
In case there is a pullback and price action near the support zone (3765-3800) shows some positivity, a nice R:R ratio trade can be captured.
Possibility of stock dropping below the support zone is quite less and if it occures, short opportunity will be there upto the next support level.
Major support zone :- 3765-3800, 3600-3625
Positional trades in the stock can be created in this week as per the trend.
On the daily charts market is consolidating and there are chance of a break out. Next thursday being the monthly expiry march expiry options can be trades.
Both side momentum is possible in the stock. Nifty Auto is trading around the ATH.
Wait for the price action on the daily charts and enter accordingly.
FinNifty intraday levels for weekly expiry (05/03/24).Finnifty is still lagging behind the other indices and there are chance of it covering up the move tomorrow.
Last expiry was a sideway market ahs there are chance of a move in the index as it has take a halt around the higher levels.
If there is a gap up opening, market may keep the bullish move on as it will hit the SL of seller and a move can be seen in the morning.
In case there is a flat to slight gap down opening, wait for it to start trading above the resistance zone or break out in the second half.
Major resistance zone:- 20960, 2110-50
Support levels :- 20830, 20620
It is sustaining the higher levels and has consolidated in a range. A nice trending move on the break out can be seen.
Even watch for the option premiums charts and VIX before entering a position.
Wait for the price action near the levels before entering the market.
Banknifty weekly analysis for 04/03/24.Last week the markets were volatile.
A M pattern formation and immediate reversal forming a V pattern shows the volatility.
The market need to retest of halt on the upper levels before crossing the ATH.
On friday, there was a 2.5% bullish move in banknifty it seem to be bullish as on intraday levels.
Positional trades can also be entered, if market comes to test 46500-700 zone.
Now the resistances on the upper side seems to be somewhat weak.
Major bullish target :- 47600, 47840
Supports are far and there should be a retest.
Wait for the price action near the levels before entering the market.
BORORENEW - Spinning Top with VolumesNSE: BORORENEW is closing with a bullish spinning top candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 16% to 24% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
#NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
Inside Bars on hourly TF.Nifty has formed 3 inside bars on hourly timeframe just outside Wedge breakout
Which side is it breaking out?
A-Z About HEIKEN ASHI CandlesticksHEIKEN ASHI Strategy:
1.INTRODUCTION (WHY HEIKEN ASHI CANDESTICKS)
Often trading on the trend gets difficult due to price action that makes trader exit trades early. (USELESS NOISE FORMED BY TRADITIONAL CANDLES)
This mainly happens due to impact of one single candle or bar on Trader’s ability to hold positions.
Through Heiken Ashi Candles , this problem is largely solved as Price Trend is clearly represented through these.
LOOK at the difference between TRADITIONAL and HEIKEN-ASHI Candlesticks below:
A) TRADITIONAL candlestick with a lot of noise during uptrend and downtrend which confuses most of the traders and forces them to exit early
B) HEIKEN-ASHI with a smooth buttery experience while trading:
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2.TYPES OF CANDLES
Let us now come to the types of Heiken Ashi candles.
In this chart, I have done 5 markings to explain the various types of candles in Heiken Ashi.
a)The wide range yellow/green candles indicates good momentum and shows the stock shall be bullish for some more days unless and until there are signs of reversals
b)The small body green/yellow candles represents the continuation of the trend although they show that the stock is not very bullish but is bullish
c)SPINNING TOP- is formed when the body of the candle is very small (NOT A DOJI) and there is wick equal on both upper and lower side.
d)The wide range red candles shows weakness in the stock
e)INDECISIVE Candles- are formed when it is neither of the above candles (small body and irregular size wicks on up and down side)
Always remember, size of body, shadows, and range of candle determines whether it Is bullish, bearish or neutral candle
Do read futhur to understand
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3) KEY RULES to follow
There are broadly 5 rules that need to be followed when trading with Heiken Ashi Candles.
DO HAVE A LOOK AT THE CANDLES SIMULTANEOUSLY
Rule 1 – Green candles with no lower shadows indicate a strong uptrend: When you spot these on charts, be in the trade and don’t think about profit booking. You might want to add to your long position and exit short positions.
Rule 2 – Candles with a small body with upper and lower shadows indicate trend change: These are indecision candles and require more confirmation.
Rule 3 – Red/Black candles with no upper shadow indicates strong a downtrend: When you spot these on charts, be in the trade and don’t think about profit booking. You might want to add to your short position and exit long positions
Rule 4 – Candles with long lower shadows represent Buying interest. Always take note of these candles and assess price action after you spot these candles.
Rule 5 – Candles with long upper shadows represent selling interest and be cautious with existing long positions if you spot such Candles.
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4) INITIATION AND CONTINUATION:
You just need to know 2 types in trend analysis
1.INITIATION CANDLE
2.CONTUATION CANDLES
1.Initiation candle is one that sets the tone of Trend and defines underlying momentum for price. This is why Initiation candles are most important in Trend Analysis and Price action trading.
2.Continuation candles are ones that reaffirm the direction of trend and are useful to increase positions in the direction of trend.
FREE TIP:
When you begin price trend analysis, always look for initiation Heiken Ashi candles and then look for continuation candles.
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5) IDENTIFYING STRONG TRENDS:
In the chart below, let us see how a strong Up/Down trend looks like.
In Heiken Ashi, we should be measuring strength of move based on Initiation Candles (Candles that represent strong trend).
If you look at the chart, all markings that I have done are that of Strong Initiation candles on the downside and upside (BUY/SELL)
When such candles are visible on the chart, invariably Price tends to move up/low. Always keep range of Candle in mind.
It should be wide with no upper/lower shadows for uptrend and downtrend respectively.
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6) COMMON MISTAKES
Most Common mistake when using Heiken Ashi Candles is to Enter or Exit Trades based on the color of Candle. Most beginners commit this mistake and this should be avoided at all times. Whether it is Heiken Ashi Candles or any other charting method, you need to understand the overall Market Trend and Context. Without this, you will find it difficult to Trade successfully over a longer period of time.(PRICE ACTION IS THE KING) This is just an additional filter like an indicator and should not be treated as the only parameter in your strategy...If trading was so easy then 90% wouldn't have lost their money in trading...Trading is like cooking you need to add the right ingredients in the right amount to taste a dish good.A pinch of salt less can ruin the entire hardword behind making the dish...Similar is trading...Will make a tutorial on risk management as well...Do let me know if you are interested only then it would be wise for me to proceed ahead.
One of the main things you have to do is to analyze which candles contribute to Trend and which do not. This effective way of filtering out relevant candles from non relevant one’s is what will help you succeed with Heiken Ashi Candles.
FREE TIP:(SAVES TIME DO READ)
Always divide your Candles into two types;
1.Candles that have impact on Trend
2.Candles that have no impact
This way, you will know which one’s to be focussed upon.
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7)DISADVANTAGES:
EVERY + HAS A - ELSE EVERY TRADER WOULD HAVE USED THIS STRATEGY TO MAKE TONS OF MONEY EVERYDAY
The one main disadvantage that most traders refer to is that by the time Traders take positions based on Heiken Ashi Candles, the entire move is already over. While there is some merit to this, it is important to note that this mainly applies to short time frame charts. On higher time frame charts (30 Min to Monthly time frame), Heiken Ashi has tremendous benefits and Traders should try and incorporate these in their Trading arsenal.
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I hope this tutorial as helpful for you to understand some basics of HEIKEN-ASHI candlesticks...There are many other types of candlesticks which have their own importance like RENKO and PnF candlesticks...Do let me know in the comments whether I should make posts on STOCKs that I Trade/EDUCATIONAL posts like this
FOLLOW me for many more such content ahead...DO hit the like button...Till then,
HAPPY TRADING :)
Ape coin reversal patternApe coin is reversing really nice breakout from trendline and W pattern .
Its a good fundamental coin as bull run approaching this coin can give good returns in next few month’s
HINDALCO - Weekly AnalysisIn the Weekly Chart of HINDALCO ,
we can see that, it has retested and created a Hammer candle on trendline.
Enter on breaking its High with Low as SL.
MOIL - Weekly AnalysisIn the Weekly Chart of MOIL ,
we can see that; after very big breakout,
it has retested and created a Hammer candle on trendline.
Enter on breaking its High with Low as SL.
NAZARA - Weekly AnalysisIn the Weekly Chart of NAZARA ,
we can see that, it is retesting the previous support.
we can have an entry if it creates a Hammer candle or W shape recovery.
BALAMINES - Weekly AnalysisIn the Weekly Chart of BALAMINES ,
we can see that; it has created a Hammer candle.
We can see a W shape recovery, Also it is forming a Cup & Handle it is gives a up move
Enter on breaking its High with Low as SL.
SFL - Weekly AnalysisIn the Weekly Chart of SFL ,
we can see that, it has created a Hammer candle.
Enter on breaking its High with Low as SL.
DEEPAKFERT- Weekly AnalysisIn the Weekly Chart of DEEPAKFERT,
we can see that, it has spent time near support.
we might see a W shape recovery.
Possible momentums are shown in chart.
KOTAKBANK - Weekly AnalysisIn the Weekly Chart of KOTAKBANK ,
we can see that, it has created a Hammer candle on support Trendline.
Possible momentums are shown in chart.
RALLIS - Bullish Swing Reversal with VolumesNSE: RALLIS is closing with a bullish swing reversal candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 20% to 30% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
#NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
SAIL - Bullish Swing Reversal with VolumesNSE: SAIL is closing with a bullish swing reversal candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 20% to 30% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
#NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
Gap acted as SUPPORT as analysed! As we can see despite the strong weakness, BANKNIFTY managed to close above our zone and ended in green as analysed in our previous post that the gap could possible act as a great support hence as long as the gap is protected, every dip could be an buying opportunity!
Long ABB INDIACurrently ABB INDIA Closed at All Time high.
Confirmation on both Weekly and Monthly Timeframe.
Long May-2024 Futures and close the position until it breaks previous Market structure.
Current Stoploss - 4393
BERGER PAINTS - Bullish Swing ReversalNSE: BERGEPAINT is closing with a bullish swing reversal candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 10% to 15% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
#NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
NIFTY DAILY - 28/2/2024Market opened on a positive note, but bulls were not able to sustain in the market and turned market negative, and made days low that is 21915.
Nifty has formed big red body candle with upper and lower shadows.
Bearish Engulfing candle is formed on daily chart which indicates bearish sentiments into the market.
Today’s candle is halfway crossing the 9 days Exponential Moving Average.
Nifty has broken the support of 22023 so next support will be at level 21854 and level 22115 will work as resistance.
⚠️ Important: Always maintain your Risk & Reward Ratio.
✅Like and follow to never miss a new idea!✅
Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
Eat🍜 Sleep😴 TradingView📈 Repeat 🔁
Happy learning with trading. Cheers!🥂
