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Candlestick Analysis
FinNifty weekly expiry intraday levels for 09/01/24.FinNifty has closed 220 point lower before the expiry and it can remain in the bearish mood as the daily close just.
It has been respecting a support line and is around the daily 20 ema.
Major support levels :- 21230, 21175, 21000-50
Resistance :- 21380, 21450
RSI on the daily charts is showing a bearish divergence and there are chance of a trend expiry tomorrow.
All the indices are moving in sychronously and after testing the new ATH it has not retraced.
Wait for the break down of the support line and fromation of price action near the levels.
Banknifty weekly expiry levels for 10/01/24.Banknifty has given fall in the second half and fell almost 700 points from the day high.
Now the market has confirmed a bearish trend as it has been forming a lower low lower high formation.
It is taking support from 200 hourly ema and closed 200 points lower.
Tomorrow is weekly expiry and anything below 47150 will drag banknifty to test 46920 levels.
Major support :- 47150, 4920
Resistance :- 47450, 47860
If there is a consolidation on the levels and gives a break down good points can be capture, else it can take a halt after a 2 days fall.
Wait for the price action near the levels before entering the trade.
Nifty weekly levels for intraday trading 08/01/24.Weekly candle is a doji and has closed near the previous candle close.
Nifty is in a bull run. There will be some movement around the ATH of the market.
It has closed just 20 points lower on the weekly charts.
61.8% fib levels is still around the daily close. The market has been consolidating and can continue to consolidate.
Major upside resistance :-21820(ATH)
Supports are ther in the market around :-21640, 21585
A downtrend will be confirmed only once the market starts closing below 21500 levels.
The last hour candle is showing positive sentiment and trade only on price action with calculated risk.
KECL - Bullish Swing Reversal with VolumesNSE: KECL 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 at MAKE OR BREAK LEVELWe did see a strong fall as we analysed in our previous analysis that if the last candle’s low is broken below we can see a strong fall and we did see that. Now if NIFTY manages to open flat and breaks last swing, we might see a continuation in rally and further downfall can be witnessed which can create a potential panic so plan your trades accordingly
Banknifty weekly & intraday levels for 08/01/24.Inside candle is formed on the weekly charts and Banknifty has closed only 130 points lower.
There is a doji week and daily candle.
47400 is a major support level on the daily close. If market starts closing below it there will be a M pattern formtaion and selling can happen.
Currently, it has closed around 61.8% daily fib. Reversal or bearish trades for intraday can be initiated as per the price action around the level.
Major bearish targets. :- 47810, 47560
Trailing SL should be taken in a bearish trades for holding as there can be chance of it being a winning trade.
Resistance :- 48380-400, 48620
47810-48400 is a no trading zone for tomorrow, if the market takes a halt between the levels there will be a time decay in the option.
Short OTM strangle can be created while rolling up or down the leg.
Wait for the price action near the levels before entering the market.
RBA - Bullish Swing Reversal with VolumesNSE: RBA 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 11% to 18% 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 ready for new rally..?As we can see NIFTY has finally able to close above the trendline which signifies a strong buying being made hence we can expect every dip as a buying opportunity till this weekly doji kinda candle is not broken below which could lead to a strong fall so plan your trades accordingly
HDFCLIFE | GOOD BUY CANDIDATEHDFCLife formed a double bottom and created a bullish engulfing candle on daily time frame on 4th Jan. The stock is trading near demand zone and if holds these levels, we expect to see a good upside.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India
NYKAA - Weekly AnalysisIn the Weekly Chart of NYKAA ,
we can see that, it is same range since 7 weeks.
Now it has made a decision making candle.
Enter on breaking its High with Low as SL.
RAIN - Weekly AnalysisIn the Weekly Chart of RAIN ,
we can see that, after up move it has created a Halt Candle.
Enter on breaking its High with Low as SL.
TIRUMALCHM - Weekly AnalysisIn the Weekly Chart of TIRUMALCHM ,
we can see that, it has given trendline breakout.
Let it retest and then enter with SL.
HINDZINC - Weekly AnalysisIn the Weekly Chart of HINDZINC ,
we can see that, it has mad a Inside Candle.
Expected momentums are shown in charts.
BODALCHEM - Weekly AnalysisIn the Weekly Chart of BODALCHEM ,
we can see that, it is leading towards Inverted Head & Shoulder breakout.
It has made a decision making candle.
Expected momentum is shown in chart.
Coal India looking goodCoal India forming Cup and Handle pattern on Higher time frame. Target is huge.
Positional or Longterm opportunity in Divis LabGo Long above 3568.9 for Targets of 4070, and 4389.7 with SL 3295.3
Reasons to go Long:
1. On a Weekly timeframe the stock gave Trendline breakout.
2. If we draw the Fibonacci retracement tool from the swing low (point A) to the swing high (point B) then we see stock took support from the 0.5 Fibonacci level.
3. Also a bullish candlestick pattern Bullish Engulfing (marked with orange color) is formed around 0.5 Fibonacci level.
Positional or Longterm Opportunity in CIE IndiaGo Long above 488 for Targets of 511.8, 535.6, and 559.4 with SL 464.2
Reasons to go Long:
1. On a Weekly timeframe the stock gave Trendline breakout.
2. If we draw the Fibonacci retracement tool from the swing low (point A) to the swing high (point B) then we see stock took support from the 0.618 Fibonacci level.
3. Also a bullish candlestick pattern Bullish Engulfing (marked with orange color) is formed around 0.618 Fibonacci level.
Positional or Longterm Opportunity in DCM ShriramGo Long above 965.1 for Targets of 1044.7, 1124.3, and 559.4 with SL 885.5
Reasons to go Long:
1. On a Monthly timeframe the stock gave Trendline breakout. The stock was initially facing resistance from this trendline but now is taking support.
2. If we draw the Fibonacci retracement tool from the swing low (point A) to the swing high (point B) then we see stock took support from the 0.618 Fibonacci level.
3. Also a bullish candlestick pattern Bullish Hammer (marked with orange color) is formed around 0.618 Fibonacci level & the Trendline.
JWL - Spinning Top with volumesNSE: JWL 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 11% to 20% 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
MAHLOG | The perfect weekly close that we wantMAHLOG | The perfect weekly close that we want
Looks like the stock is bottomed out and new trend is taking place
CMP : 448 (Dip : 420)
SL : 375
Target : 780
#Lead
Slightly bearish outlook on NIFTYCurrent market sentiment suggests a slightly bearish stance as Nifty is trading higher than its 200 EMA
PARAS, the Defense Stock ready to take off 🔥🚀🔥🚀🔥🚀Almost all Defense stocks has made a bull run, but #PARAS, which is set to soar🛫🔒Monthly resistance shattered, signaling a potential upward trend📈Keep an eye on this pocket pivot - could be the start of something big🔥
