Hero Moto Cmp 4587 Shooting Star @ TopHero Moto Cmp 4587 dated 1-2-2024
1. Shooting Star Candle @ top
Sell Below 4570 target 4540-4485-4400 SL 4650
It is just a view, please trade at your own risk.
Candlestick Analysis
BANKNIFTY showing signs of BULLISHNESS in short termAs we can see BANKNIFTY has formed more like an inverted head and shoulders pattern in smaller time frame and BANKNIFTY has just REVERSED from it’s important DEMAND ZONE and hence it could be considered as further continuation of the uptrend hence any closing above the trendline could be a good buy but we must also be aware of the possible trap by creating liquidity sweep and continuing its fall so plan your trades accordingly.
SWARAJ ENGINES - Bullish Swing Reversal with VolumesNSE: SWARAJENG 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 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 looks ready to break now!!As we can see NIFTY showed strong recovery despite us expecting weakness in NIFTY. Now that NIFTY has closed around its crucial level which has been tested multiple times now already making it weaker hence now any flat to weak opening with strong buying in first half could show another unidirectional upmove. The move tomorrow could also be influenced by INTERIM BUDGET impending which could result in larger volatility so plan your trades accordingly
Voltas moving in green. Intraday trade for 01/02/24.Voltas on the daily close has given a break out of the resistance zone around 1050-60.
It made a base around the 20 DEMA and given a nice move with good volumes.
Bullish entry can be made in the stock for positional trade for a ultimate level fo 1230.
Intraday entry with 1140 as target can be initiated and a stict SL should be kept as tomorrow is budget.
Target :- 1140, 1230
Support :- 1082, 1055
Enty :- Starts trading above 1095 levels.
Crossing the resistance level of 6 month can give some buying momentum.
Wait for the price action near the levels before entering the stock.
Nifty weekly expiry on BUDGET day (01/02/24).Tomorrow is nifty weekly expiry and financial budget. There will be much volatility in the market as both the events are on the same day.
Nifty has given a nice move in the first half and consolidated in the second half.
If the market opens flat or slightly lower, after the break out bullish trade can be initiated and heavy quantities should be enter only once it starts trading above 21800.
Major resistance levels :- 21750-810, 21970
Gap filling trade can be made on the break out.
Support for bearish targets :- 21660, 21480, 21250
Watch for the option premiums flactuations as there will be decay and movement at the same time.
Price action near the levels for setup must be watch before entering.
Straddle or strangle may give some profits. Keep a strict loss and target fixed.
Budget move in Banknifty (01/02/24).Banknifty has given a nice up move in the first half and consolidated on the expiry for the rest day.
It is facing rejection from a trend line and a resistance zone of 46150. If there is a break out after a flat or gap down opening, it can test the round number figure quickly.
In case of a gap up opening, let market retest the break out levels or form a price action near the zone. Then only trade should be initiated as the option premiums will remain high.
Tomorrow is budget which will create more volatility in the markets. India VIX is trading above 16.
Major Resistance levels :- 46150, 46500, 46920
The market may both side as the previous budget made it move 2500 from high to low.
Today's consolidation near the high shows some positivity in the market.
Support levels :- 45950, 45490-550
Option premiums will move quickly so keep the target and stop losses strict.
Wait for the price action near the levels before entering the market.
M&M Finance - Bullish Consolidation with VolumesNSE: M_MFIN 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 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
Exact REJECTION as analysed As we can see despite the strong uptrend, NIFTY got rejected as it couldn’t sustain itself above our given level and fell unidirectionally as analysed in our previous analysis. We may see NIFTY to remain sideways to negative despite strong opening unless it breaches upward zone. We may also see NIFTY reaching the lower trendline if couldn’t hold itself so plan your trades accordingly.
SOTL | 5 years range breakout in monthly time frameSOTL | 5 years range breakout in monthly time frame - Looks good for doubling
CMP : 405 (Dip : 350)
SL : 300
There is a Cup & handle pattern aswell.
Banknifty weekly analysis for 29/01/24.Banknifty has closed below the weekly 20 ema and looks bearish as the golden ratio is also breached.
The previous trading session has formed a bullish hammer but still is trading below the previous day high.
Bullish swing/intrady should be created above 46200 levels. It has taken support from 20DEMA.
Major support levels :- 44480, 44290
No trading zone is market between 44480-45130 due to the volatility in the market.
Resistance levels :- 45130, 45470, 46160
Markets will be opening after a long weekend and chance are there of a gap up/down opening.
Trailing stop loss can help capturing the trend.
This is a budget week and option premiums will be high. Enter a confirm setup and aviod entering the between the trend.
Watch price action near the levels before entering the trade.
Has HDFCAMC bottomed out?HDFC AMC has been in continuous downtrend from late 2019.
As we can see on the chart, the stock has recently bounced from a support level with good volumes.
The most interesting observation is a positive divergence in RSI during the bounce which might be an indication that stock has bottomed.
On Friday, good buying with high volumes has been observed with a bullish candle, almost a marubozu.
This stock has an immediate resistance at 1950 so it is better to buy the stock at around 1800-1810 levels for a better risk reward.
Kindly trade as per your own analysis. This idea is shared for educational purposes.
DATAPATTNS - Bullish Swing Reversal with VolumesNSE: DATAPATTNS 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 and trendline support for the past few days which is indicating demand.
One can look for a 17% 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
NIFTY ready for another rally..?As we can see NIFTY showed unidirectional upmove which as expected as we had analysed in our previous BANKNIFTY analysis. Now NIFTY can be see standing at make or break level closing at very important level which has been tested multiple times making it weaker hence any closing above the given level could show another unidirectional move but can act as a strong resistance which may lead NIFTY to fall so plan your trades accordingly
JMFINANCIL | Simple channel breakout - Looks potential 50-60%JMFINANCIL | Simple channel breakout - Looks potential for 50-60%
CMP : 111 (Dip : 100)
SL : 85
Target : 170
1:5+ risk reward setup
FinNifty monthly expiry analysis for 30/01/24.After the first hour move FinNifty has consolidated and remained in a narrow range.
Tomorrow is it monthly expiry and chance are there will be a trending move as it has consolidated today.
Major Bullish targets :- 20720, 20925
It has closed around 61.8% level which around the closing of the index.
If there is a flat opening and a break out, fresh position either side can be initiated.
In case of a gap up there will be another bullish day for it, else there will be a halt candle.
Support levels :- 20230, 19950-20010
Wait for market to form a price action and trade accordingly.
Nifty weekly analysis for 29/01/24.Nifty is looking strong on the weekly charts and the recovery on the last trading session is looking positive too.
It has closed around 38.2% fib level. If the market gap up there are chance of a W pattern above 21480, it can test 21550 levels.
Wait for a hourly candle close above or below the levels. As good intraday targets can be achieved in the trade.
Resistance levels :- 21480, 21550, 21700
If there is a gap down below 21230 level, it can trade upto the previous day low.
Bearish target/ support levels :- 21230, 21020-21000, 21860
The market will be volatile this week as there is a budget on wednesday. Option premium are high and there is much movement in the premiums.
SL should be trailed for capturing the move.
Wait for the price action near the levels before entering the market.
Long Biggest Company In India - Reliance Industries Currently Reliance is at All time high close with Bull Flag pattern breakout.
Ride the trend until it closes previous day low or Previous Market Structure of Technical levels Stoploss is Rs.2658 for futures.
Long March futures and Buy 3000 Call option of Feb series - 2024.
CCL - Bullish Swing Reversal with VolumesNSE: CCL 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 8% to 12% 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
GNFC - Bullish Swing Reversal with VolumesNSE: GNFC 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 and trendline support for the past few days which is indicating demand.
One can look for a 13% 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
EMMBI shows bullishness in chartEMMBI has broken monthly resistance and Supply zone with a good momentum. Monthly volume is comparatively bigger for past few months, which is good signal
Multi year Beak Out in INFIBEAMMultiyear BO happened in #INFIBEAM. Monthly Resistance and Supply zone has been penetrated with very good volume. Comparatively bigger volume since Spetember,2023 indicates the entry of big players
Round Bottom Formation in SARLAPOLYSARLAPOLY took support at Monthly resistsnce and Supply Zone after the BO and a pullback🔥
A Round Bottom Formation is completed now.
-CMP 64.95
-Support 60
-Resistance 70/75
