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Candlestick Analysis

Banknifty weekly analysis for 04/12/23.A 1000 points move in one week and the market is giving a nice bullish move. On the daily charts, the market has tested the 45k levels this week and closed around 43800 levels. Nifty is trading around the ALL Time high but banknifty is still 1500 points lower than its ATH. There are chances of banknifty also forming a new ATH. Major trading levels for this week. Support :- 44700, 44450, 44300 Resistance :- 45000, 45200, 45850 Market looks bullish as per the weekly closing and in December month banknifty can form a new ATH. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
3
FinNifty intraday levels for weekly expiry.Finance sector has finally made a new ATH and it was totally unexpected as there is a 3% move in both the finance indices. FinNifty has given a nice upside move today. It has travelled more than 1000 points after break out of the recent swing high around 19780. It has closed near to the day high which signifies some positive sentiment in the market. Even the global markets reacted positively and now there can be a halt candle or a slight retracment. If there is another gap up tomorrow, either it will take a halt or there will be a profit booking. Gap down can create panic selling has the index has moved. It has given 6 consecutive green candle and there are chances of market taking a retest near the previous high and giving another move in december series. Major Support levels :- 20670, 20420, 20235 The market is trading around the ATH and there is only round number resistance for the market. Bullish trades can be created in small quantities as the market is stretched and may take a halt. Wait for the price action near the levels before entering the market.
NSE:CNXFINANCE
by Mambotrade
NATIONALUM - Bullish Consolidation BreakoutNSE: NATIONALUM is closing with a bullish consolidation breakout 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 11% 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:NATIONALUMLong
by BrahmaBull31
CANFINHOME - Bullish Consolidation BreakoutNSE: CANFINHOME is closing with a bullish consolidation breakout 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
NSE:CANFINHOMELong
by BrahmaBull31
Banknifty view for 30 Novemeber 2023Today's market had a clear direction in the first hour, but now the market is a little bit risky. Those who made money in the morning should opt out of trading entirely. However, the market might be sideways to bearish until 2 PM. Since today is the monthly expiry, its better to sell OTMs on a spike (44200 and 44700 with proper risk to reward). There can be a gamma burst at 44270 and 44450, which can be an excellent scalping opportunity. However, I will refrain from buying calls until 2 PM - we might get a short covering rally. I will be a spectator today selling far-away otms! Will only enter in case of a scalping opportunity.
NSE:BANKNIFTY
by pr0p
TTML - Bullish Consolidation Breakout with VolumesNSE: TTML is closing with a bullish consolidation breakout 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
NSE:TTMLLong
by BrahmaBull31
When to sell_ ITCNamaste! I have been tracking ITC for quite some time. Now, I see an upcoming bearish momentum in the coming weeks. Q: Why am I saying this? A: Well, all time high of ITC was Rs 367.70. It broke it's multiyear lows (of Rs 178.65) on 09 March 2020. So, it can be a long term pattern of "lower lows and lower highs". This price can be the next lower highs. Profit booking will definitely come at this prices, because there will be many investors who will be exiting "before Rs 367.7 prices". And Nifty did not break Apr 2022 swing highs, it is indicating an upcoming bearish momentum. Q: When and at what price should I exit? A: You can place a sell stop order at Rs 329.60, so you lock in your profits. I would suggest positional traders to do this. I repeat, prices must break those levels, so your order gets triggered and you exit. For investors, they can consider booking/exiting at such prices as well. And they can consider buying it back at Rs 281 levels. I am not right 100% of the time, so only apply this when my points seem logical to you. Disclaimer: The analysis I have shared is based on my understanding and experience in the markets. Prices may or may not reach mentioned levels, resulting in opportunity loss. Please do your analysis and/or consult your financial advisor before applying anything.
NSE:ITC
by UnknownUnicorn7637383
15
BANKNIFTY will take a BREATHER here..As we can see BANKNIFTY rallied over 700++ points which was much expected as we said BANKNIFTY has formed a doji and break on either side could show a unidirectional move and it did that. Now that BANKNIFTY has already rallied, we can see it closing at important supply zone which is not expected to be broken very easily. Hence, we can expect BANKNIFTY to take a breather as a halt until it finally breaks off heading towards its new ALL TIME HIGH so plan your trades accordingly.
NSE:BANKNIFTY
by Wealthcam
Granules India Breakout on monthly time frameAs you can see here Granules India chart, what does this chart show? This chart shows us that it has given a breakout of a beautiful pattern i.e. flag and pole on a monthly time frame. As you can see on the weekly time frame, the stock had broken its nearest resistance and now it is ready to move more on the upside. So now we can plan an entry for upside momentum, from the last two days this stock has been consolidating inside the breakout candle, making inside bars on a daily time frame. So our entry will be above the high of the mother candle i.e. 390 and our stop-loss will be of 30 points. The first target will be ATH(all-time high). Hold this for a long time as the breakout is on a monthly time frame. I'm not sebi registered so this is only for educational purpose, do your analysis first.
NSE:GRANULESLong
by Garvit_Narang
Jubilant Foodworks: Bullish Three white solider candle formationFrom the levels of 412 the stock has bounced up creating higher lows. Three white soldiers is a bullish candle formation. A weekly close above 572 can push the price higher. Immediate target of 610 and 650 in the short to medium term. Post which we can see levels of 700. Support levels at 530, 500 and 480. Always trade with a strict stop loss of 5-8%. Note: Not a buy/sell recommendation. Always consult your advisor.
NSE:JUBLFOODLong
by TheUnlearningOne