AUBANK - Weekly AnalysisIn the Weekly Chart of AUBANK ,
we can see that, it has created a Halt Candle on support.
Enter on Halt Candle's high with Low as SL.
Candlestick Analysis
NYKAA - Weekly AnalysisIn the Weekly Chart of NYKAA ,
we can see that, after W breakout, it has taken a halt and now it is ready for up move.
Enter on Halt Candle's high with Low as SL.
Bajaj Twins looks good bet for FY 2024-25.Bajaj Twin are waiting for a move while other stocks of the group has given good returns in last few months.
Both the finance sector companies are trading a break out zone. Banks and other NBFC's has performed and created new highs.
Bajaj Finance
A bullish engulfing candle on the monthly charts is showing some trend reversal in the stock and has gained over 10% this month.
Price action traders can seen the bullishness in the stock and it is trading in a consolidation zone creating a bullish break out pattern.
There are chances of it consolidating around 7600-7800 levels and break out the higher 8200 levels creating a new ATH.
Volume profile ,since April '24, is also showing much of the activity happening around the trading price which signifies less selling volume on the higher levels on monthly charts.
Investment and positional stock holding in these stocks seems good for this FY.
Target price as per Fib Ext. are 8700-9250.
Bajaj Finserv
Its ATH high is 1932.50 and the stock is trading around 1644 levels.
Multi-month consolidation break out can be seen in the stock. If the stock starts to sustain above 1850-60, there are high chance of it giving 30-40% returns in coming FY.
The major resistance around 1860 is there and a break out is there just below the levels around 1700.
A position on the triangle break can be initiated with 25% of the investment capital and add on to the position on the horizontal zone break out.
Volume profile of Bajaj Twins are matching and are at the trading price. More bullish confluences help in carrying the trade and it is doing it.
The target price of 2100-2250 can be predicted as per the Fibonacci extention tool.
Entry should be made only after watching a price action or a break out with good volumes while closing over the levels on weekly or monthly charts.
Chart patterns and trading them are different thing. Price will be traded and chart pattern will help built the confidence.
BAJAJ FINSERV - Bullish Swing Reversal with VolumesNSE: BAJAJFINSV 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 16% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
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METROPOLIS - Bullish Swing Reversal with VolumesNSE: METROPOLIS 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.
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Banknifty intraday levels for monthly expiry 27/03/24.For last few trading sessions, market is volatile and is taking the stop losses.
Today also the market remained in a range and closed below the daily 20 ema. There is a rejection from the levels and an inverted hammer is formed on the daily charts.
If there is a gap up to flat opening and market starts trading below today's low, it can test the lower support levels.
Fibonacci levels are also retested on the bearish front. Now market has to decide which trend to follow as it has been creating confusion.
Major support levels :- 46400, 46150
Resistance levels :- 46750, 46940
Tomorrow is the montly expiry for banknifty. It has been consolidating in a range for last 3 trading session and there is a possibility of it showing some trending move.
Wait for the pirce action near the levels before entering the market.
RADICO - Bullish Momentum with VolumesNSE: RADICO is closing with a bullish momentum 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 with bullish momentum 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
New rally incoming if sustained above our given level!As we can see BANKNIFTY after taking support recovered almost 1000 points, now it can be seen trading in a crucial zone as this zone has been acting as a strong inflexion zone ever since. Hence if BANKNIFTY opens strong then we might see another strong rally above but will remain sideways to negative in this zone so plan your trades accordingly.
IOC taking support at previous resistance levelApart from BPCL, IOC is also given a multiyear breakout and has taken support at the same level and formed a kind of hammer candlestick pattern in the weekly timeframe.
Angel one taking support at crucial Fib level in weekly timeframAngel One had given a good rally after its IPO and after reaching a certain level, profit booking can be seen in it but if you look at it in a weekly timeframe and draw Fibonacci then you can see that it is taking support at 0.61 and also form a hammer candlestick pattern.
METROPOLIS - Weekly AnalysisIn the Weekly Chart of METROPOLIS ,
we can see that, after 4 weeks of slow selling, it has created a Decision making OR Halt candle.
Enter on breaking its High with low as SL.
BALAMINES - Weekly AnalysisIn the Weekly Chart of BALAMINES ,
we can see that; it has created a Decision making OR Halt candle.
Enter on breaking of high with Low as SL.
GMMPFAUDLR - Weekly AnalysisIn the Weekly Chart of GMMPFAUDLR ,
we can see that, after strong selling, it has created a Pinbar.
Enter on breaking of Pinbar high with Low as SL.
GNFC - Weekly AnalysisIn the Weekly Chart of GNFC ,
we can see that, it has created 2 pinbars in same range.
Enter on breaking of inside Pinbar high with Low as SL.
If it shows a Up move, it might form Right shoulder in coming time.
BATAINDIA - Weekly AnalysisIn the Weekly Chart of BATAINDIA ,
we can see that, it is at decision making point.
Also, Pinbar is created.
Enter on breaking of Pinbar high with Low as SL.
DEEPAKFERT - Weekly AnalysisIn the Weekly Chart of DEEPAKFERT,
we can see that, it is holding itself near Strong of 500.
Also selling has stopped.
Enter on breaking the candle's High at 496 with SL as 748 and Go long for 2 years.
ASIANPAINT - Weekly AnalysisIn the Weekly Chart of ASIANPAINT ,
we can see that, it in in same range since 3 weeks.
Enter on breaking of Pinbar high with Low as SL.
Possible Momentums are shown in chart.
SHANTIGEAR - Bullish Swing Reversal with VolumesNSE: SHANTIGEAR 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 17% 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 might take another dip before finally emerging strong.As we can see NIFTY slowly but surely moving strong from our demand zone thought not of movement can be witnessed in chart but the strength is quite evident in bigger time frame. Now we may see NIFTY take another dip towards our demand zones before finally breaking out strong as we can see signs of indecisions so plan your trades accordingly.
Nifty weekly analysis for 18/03/24.
Nifty has given a 2% fall in a week and closed above 22k levels after testing 21900 levels.
It consolidated around the higher level and gave a fall, there is a probability of it continuing the fall.
If there is a gap down opening and a retest of the current support level of 21900, a bearish trade can be initiated after a negative price action around it.
In case of a gap up, wait for a W pattern formation and enter only when the neck line is crossed and sustained.
For last 2 trading session, nifty is forming an inside candle and is consolidating. The break out/down can give good movement.
Major support levels :- 21900, 21780, 21580
Nifty is trading below the 20 ema (daily) and is sustaing below it. The consolidation range is between the horizontal support and 20 ema as a resistance.
There is a break down of a trendline and the retest is also done in nifty which adds on for a confirmation on the bearish side.
Resistance levels :- 22100, 22190
Wait for the price action near the levels before entering the market.
Banknifty weekly analysis for 18/038/24.
A big red candle on the weekly charts after 4 consecutive green candle is either profit booking or a double top formation confirmation.
Banknifty has come for selling but the downside movement is slow which shows there are still buying happening in the market. There is doji formation on the daily charts and a significant selling is not there in the index as compare to nifty.
It is respecting a trendline and has continously tested it. If markets breaches the levels and starts trading below the levels, a bearish move can be seen in the market upto the lower support levels.
Major support levels :- 46300, 45940, 45750
The chances are high of market giving another red candle on the weekly charts. Wait for banknifty to start trading below the trendline.
If there is a gap up opening and a higher high formation, let market confirm the bullish trend on hourly charts. For confirmation look for a price action.
Major resistance levels :- 46680, 46950
Though, markets are unpredictable and is in a bearish trend, watch for it to cross and sustain 47200 levls to turn bullish. Else a day or two can be avoided for trading.
Wait for the price action near the level before entering the markets.
False BREAKDOWN done! Now ready for rally!? As we can see NIFTY followed exactly what we expected! It tried breaking it psychological level but failed to sustain below and showing a false breakout, it railed above. Based on the global scenarios, we may expect a strong opening hence if NIFTY manages to hold its strength then we may again see NIFTY rallying strong upside but can lead to sideways to negative if couldn’t hold itself so plan your trades accordingly.
