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Candlestick Analysis

Nifty weekly analysis for 05/02/24.Nifty has tested the higher levels and got rejected from the high forming a hanging man candle on the daily charts. Weekly charts is still showing some postivity and it is still way high from the weekly 20 ema. The market has gained 500 points on the weekly close and is looking positive as compare to the other indices. Major support levels :- 21820, 21660, 21500 There is a possibility of a double top pattern formation but confirmation for the M pattern will be below 21230 levels. A confusion is there in the market as the budget was about to come this week and market participants were over excited for that . It will face a major resistance from ATH and if it goes up to the levels and consolidate from 2-3 trading session or create halt candle, high chances for testing 23k levels will be there. Resistance :- 21900 (hourly), 22130 (ATH). Wait for the price action near the levels before entering the trade.
NSE:NIFTY
by TheMamboMomentum
TATACOMM - Bullish Consolidation with VolumesNSE: TATACOMM is closing with a bullish consolidation 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 reversed at key support area which is indicating demand. One can look for a 18% to 25% 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
NSE:TATACOMMLong
by BrahmaBull31
SURYODAY - Bullish Consolidation with VolumesNSE: SURYODAY is closing with a bullish consolidation 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 reversed at key support area 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
NSE:SURYODAY
by BrahmaBull31
FinNifty weekly expiry levels for 06/02/24.FinNifty is trading in a no trading zone of 21200-21450. It has consolidated today and tomorrow being weekly expiry can give a trending move. It is trading between both the moving averages on the daily time frame. Watch it take support around 200 ema, a short term bearish trend is confirm. If the market opens gap up and takes rejection from the upper zone, good R:R ratio trade can be initiated with target of 21200. In case of a gap down opening, there will be negative signs and position can be created below 21200 support zone. Major bearish targets :- 20230, 20020 The market is trading in a volatile cycle and giving hard time to option buyers. Option seller will enjoy the markets as the VIX is high (closing 6.5% higher). Resistance levels for expiry :- 20450, 21560 Wait for the price action near the levels before entering the market.
NSE:CNXFINANCE
by TheMamboMomentum
DCB BANK PRICE ACTION ANALYSISNSE:DCBBANK WEEKLY DEMAND ZONE This demand zone is good. But the price is reacting to the monthly supply zone and is coming down. So we will think of trading in this zone when some candles are formed, right now we should wait for the monthly demand zone below. MONTHLY DEMAND ZONE The monthly demand zone has broken a long consolidation, but the daily chart has some garbage candles. If the market is in an uptrend, you can trade. This zone will be good for taking the price to an all-time high.
NSE:DCBBANKLong
by investingedge1s
NIFTY at MAKE or BREAK level As we can see NIFTY despite opening strong failed to sustain itself at higher levels leading to unidirectional fall in second half as analysed in our previous analysis about the possible trend change. Now NIFTY can be seen trading at important demand zone and the lower zone could act as an important SUPPORT hence till NIFTY manages to sustain itself above the lower levels we may expect bullishness but huge fall can be expected if the low is not respected so plan your trades accordingly.
NSE:NIFTY
by Wealthcam
Banknifty weekly analysis for 05/02/24.Banknifty has given a nice move after the budget day and closed 200 point lower on daily close and 1000 points lower from the day's high. The weekly chart is showing a rejection from golden fib ratio of 61.8% around 47k zone. Though, it has closed above the 20 WEMA buy still it is trading below 20 DEMA. The market has given much move in the last week but volatility was high which helped option seller to create position while taking a hunt on option buyers. Major support levels :- 45860-900, 45300, 44550 Currently, nifty tested it high but banknifty is still lagging in testing the high by 1800 points. If the market remain positive and give some bullish momentum there are chance for the index to retest the high. It will face resistances while testing the higher highs around round number figure and resistance zone. Resistance zone :- 46550, 47000 No trading zone is marked and there is possibility of market easing of with the volatility to create a trend or sideways movement. Wait for the market to decide whether it sideways or trending. Must watch for the price action formation near the zone and trade accordingly.
NSE:BANKNIFTY
by TheMamboMomentum
FEDERAL MOGUL - Bullish Swing Reversal with VolumesNSE: FMGOETZE 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 reversed at key support area which is indicating demand. One can look for a 13% to 19% 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
NSE:FMGOETZELong
by BrahmaBull31
Gail going for a dip after ATH. Bearish move expected.Gail has given a nice bullish rally after crossing the previous ATH of 131.5. There has been a 30% bullish rally. It has formed a double top and once it starts trading below 155.80 level it will confirm a "M" pattern too, Today there was a nice sell of in the stock and it closed 5.5% lower with good volumes. Even the RSI indicator is showing a bearish divergence on the daily charts. Chances are thereof it testing the lower levels around 151 and 147. Target levels :- 151.7, 147.5, 142 It has closed below 38.2% fibonacci level, will come to test 50% and further targets of 61.8%. Wait for the stock to cross today's low after a flat or slight gap up opening. The retracement after forming a new high is remaining in the stock. And profits will be booked by the swing trades. Keep in mind the R:R ratio and SL while entering the trade.
NSE:GAIL
by TheMamboMomentum