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.
Candlestick Analysis
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
FinNifty weekly expiry for 23/01/24FinNifty on the hourly candle is forming a bearish flag pattern and the weekly candle is also showing some negative sentiment.
It has taken support from 20 ema on weekly charts and is trading between the daily moving averages.
The hourly resistance of 20 ema is also being respected. Bearish setup seems clear in the index.
Resistance levels :- 20640, 20920
In case market starts trading above 21630 or there is a gap up above the levels, avoid trading as there can be a volatile weekly expiry again.
Bearish trades can be initiated below 20450 levels for targets of 20250 and 20070.
Support levels :- 20450, 20250
Tomorrow is the weekly expiry of FinNifty. So trade less qty as markets are volatile.
Wait for a price action and trade only confirm setup.
UFO MOVIEZ - MONTHLY BREAKOUT( *** All time high *** )
( Daily , Weekly and Monthly Breakout )
it given good breakout with huge volume in Daily Time Frame.
One can Enter above 155 and Stop Loss is below 146 Target Open ( Hourly )
On Daily Time Frame Support is 138-139 and Stop Loss Below the Support.
Support seen near 149-148 in Hourly Time Frame.
SO ABOVE 155 EXPECTED 10%...15%...20%
Gael Better Risk Reward#Gujarat Ambuja Exp is trendy at the moment and Making continuous Higher High and Higher Low,
At the Moment #stock is at Higher Low, followed by #Priceaction.
Buy with the Calculated SL and can Ride the trend.
Safe players can book 1:1.5.
Do your own Analysis before any trade.
#TradewithConviction
LIC stake in HDFCBANK will come into effect?As we can see despite the weakness, BANKNIFTY managed to close strong with hammer kinda candle in daily time frame. Despite BANKNIFTY closing below the psychological level, we can still expect BANKNIFTY to show strong reversal which could also be fuelled by the approval of LIC which can have over 9.99 percent stake in HDFCBANK so plan your trades accordingly.
RICOAUTO - Bullish Consolidation with VolumesNSE: RICOAUTO 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 8% to 13% 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
BHEL: Riding the Reversal Wave? Chart Analysis Inside!Hello traders!
Today’s spotlight is on NSE:BHEL stock, which recently surged but is now flashing a reversal candle pattern. Here’s a quick rundown:
Rapid Ascension: BHEL experienced a swift climb, catching the market’s attention.
Reversal Indicators: A reversal candle pattern has emerged, suggesting a potential shift in the stock’s trajectory.
Chart Insights: Check out the chart for my marked levels around 220 to 230 – potential key zones.
Derivative Play: Derivative traders, consider exploring ITM PE options based on your research.
Due Diligence: Always a reminder to conduct your research before making any trading decisions.
Stay Informed: Let’s stay informed and navigate these market movements together. Your insights are valuable!
See you in the next post, traders!
Best regards,
Alpha Trading Station
Nifty weekly analysis for 23/01/24.Nifty on weekly and daily time frame has formed a engulfing candle and chance are there of market going down if it breaks below 21500 level for intraday.
It has been taking support from the daily 20 moving average and rejection from 50% fibonacci level.
If market tries to move up side it will hit the resistance levels of 21800. In case the level is crossed and sustained, it can test 22000 level.
Up move targets :- 21800, 21970.
On the other hand, market can test the support levels of 21500 and 21350.
Even the hourly 200 ema will also act as a support i.e. 21430.
Support levels :- 21500, 21430. 21350
Chances are there that market can retest the support levels and if the last support levels of 21350 is breached, bearish trade targets can be 21020-21110.
Wait for opening of the market as much of the movement is decided after the price action.
Banknifty weekly analysis for 23/01/24.
Banknifty is taking support from the weekly 20 ema and has formed a bearish engulfing candle on the charts.
The movinga averages are being respected by the market, it is hovering between both 20 and 200 ema on daily charts.
A consolidation is there in between 50-61.8% fibonacci levels. It has been trading in a similar range for last 3 trading session and this week is only of 3 days.
In case, market starts moving up it will face resistance around the rejection levels of 46610 and 46900-47050.
Resistance :- 46230, 46610, 46900-47050.
The market is showing some negative sentiments and there are chances of it hitting below 45k levels once the support zone of 45500 is breached.
Bearish trades can be initiated once 45450 level is gone and market starts sustaining below it. There are buyers around this level and lower targets of 45000 and 44600 can be capture on the break down.
Support levels :- 45450-500, 44930, 44550(daily 200 ema).
Mark the no trading zone of 45450-46100 as the market is volatile in this range.
Wait for the price action and candle closing below or above the levels before initiating a trade.
RELIGARE - Bullish Spinning Top with VolumesNSE: RELIGARE 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 15% to 23% 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
Huge selling in HDFC. How to trade it tomorrow.One side fall in the stock has impacted the indices too.
HDFC bank, is heavy weight in index, fell 140 point or 8.5% created a sell off.
It took a retest of 200 ema and has closed below both the averages. It may give another red candle tomorrow.
There stock has closed around a support zone and chance of testing 1500 levels are high.
Short position can be created below 1535 levels and targets can be trailed if the market remain in red.
Support levels:- 1505, 1470-80
The results are not that bad to make the stock fell so much. Some long term investors can accumulate some quantity.
Wait for a price action and enter only confirm trades.
Bullish move on SBIN charts (08/01/24). SBIN is trading around the highs and if forming a bullish flag and pole pattern.
For last 3 weeks it is holding on to the higher levels. A nice bullish trade can be capture for a 10-12% move in near future.
A nice move it has already given and it can touch another milestone of 700 in this quater.
Break out can provide a nice up move in the stock. Positional trades in the stock and derivative can be initiated.
Fundamentally the stock is good. A nifty50 stock is always good for investment purpose.
Major levels are 660 & 700 on the higher side and support is around 620 levels.
Wait for the break out to trade. In case of a break down avoid a trades as the lower side R:R is not suitable.
BANKNIFTY showing signs of REVERSAL around trendline..?As we can see BANKNIFTY is showing signs of REVERSAL around trendline which has been respected by BANKNIFTY in bigger TIME FRAME. Hence if BANKNIFTY opens flat and crosses 46200 then we might see another strong unidirectional upmove in BANKNIFTY so plan your trades accordingly.
JAI SHREE RAM