This description is only relevant if nifty forms a head and shoulder pattern in 15min chart. Nifty should again take a reversal from 18240 support level and go till 18285/18300 and reverse till 18200 to form a head and shoulder pattern and expect a fall in nifty. 1st tgt 18150. Then 200 EMA may act as a support then may become resistance if levels are broken. You...
Dear All, Back to back 2 days of observing a closing of above 18200 is indeed a good indication for the bulls. However, this week will play a crucial role in deciding the direction of Nifty’s momentum for the upcoming days. So, we are still with our words that alongside this uprise , it will be a good idea to go for Portfolio Rebalancing as of now,...
A shooting star occurs after an advance and indicates the price could start falling. The formation is bearish because the price tried to rise significantly during the day, but then the sellers took over and pushed the price back down toward the open. Traders typically wait to see what the next candle (period) does following a shooting star . If...
As we saw BANKNIFTY had been sideways to negative the whole day as we analysed in our previous post! We can still see BANKNIFTY being sideways to negative in coming trading sessions unless BANKNIFTY closes above 43600 and sustains above given level hence unless it sustains above given level it can remian sideways to negative
Market now in strong level of support and this level hammer candle formed, next level of market going to bull, it's time to buy opportunity
1. Bullish Engulfing Bar formed at Support and Resistance Zone 2. S/R location is at round number 80.00 3. Fib Ret at 61.80 Level. 4. Trendline position is perfect.
1. Bearish Engulfing Pattern formed at S/R zone. 2. Another Confirmation is 50% Fib Retracement at S/R level that is strong zone than you think. 3. Oh...Come on EMA 150 act as Resistance. 4. Trendline got broken very well by Engulfing Candle. 5. First TP1 level price reached sell half of your stocks there. 6. Move your SL to BE for another TP2 level which you need...
Escorts Cmp 1981 dated 28-4-2023 1. Cup & Handle Pattern 2. Bullish Candle On Friday 3. RSI reversed Buy abv 1990 for target 2020-2040-2080-2120-2200 SL 1930 It is just a view, pls trade at your own risk.
Dear All, So yesterday Nifty reacted just opposite to its previous pattern, which means that in the presence of a shooting star formation it showed a beautiful uprise of approx 200 points. Which altogether lead Nifty to give a positive closing of above 18200. But as of now Nifty is on the edge of its Previous week’s high. So, still we have to wait...
BEPL | Decent channel breakout ahead for big targets CMP : 118 (Dip : 105) SL : 90 Target : 200 1:4+ risk reward setup
As we can see BANKNIFTY had been bullish to sideways throughout the day as discussed in the past analysis ! Now we can see the candle formed today is in more like inside candle type formation hence we might see a big trending day coming up if either of levels is broken hence if BANKNIFTY breaks 43600 mark and sustains above given level then we can see a new ATH in...
Daily Learning Day-55 Price Action Learning & Nifty Trading Plan for Tomorrow
Institutions are winding up retails money as the markets are volatile. Gap up/down are giving losses to the retails. Nifty has recovered all the losses of the previous session and has closed above the recent high of 18267. A nice bullish marubozu candle is there on the daily time frame and there are chance of nifty trading around its ATH. Nifty remained strong...
Indian market followed the global markets and has given a nice upside move after a 1000 points loss, Banknifty has given a 600 points recovery forming an inside candle on the daily time frame. Though, the market looks bullish, still banknifty is trading in a resistance zone and the previous fake out if strong will also act as a resistance. Markets opened gap up...
1. Pinbar formed at S/R level 2. Fibonacci Retracement 61.8% confirms that S/R level. 3. Trendline is in perfect position for the pinbar which acts as trendline. 4. Stop Loss and Take Profit levels are perfectly mentioned in the chart window. 5. Once Take profit level reached, try to sell half of your stocks position there and move your stop loss to breakeven and...
Dear All, In the last week, we had indeed witnessed a lot of volatility in the Market, where on the one hand we had observed a beautiful breakout of 18200 level on the day basis. While on the other hand, a huge supply pressure was observed on the last trading of the previous week. After which Nifty is now almost very near to its immediate support...
Indian markets has been trading in green since last 2 months. The financial sector has outperformed as the Nifty finance is trading above 19k and Banknifty around 43k levels. Market has outstretched, finally some profit booking is coming. Banknifty has given a bearish candle on the weekly time frame as well as on the daily charts. Banknifty can retest the...
The overall market in the last month has shown some positivity. Now the index is trading around a crucial resistance zone i.e. 18180-18250. There is a possibility of a retest and formation of a double top pattern. Market has trapped some buyer as it closed above 18200 levels and the gap down took their Stop losses. In the coming week the market can give another...