As we can see NIFTY has shown one sided fall from head and shoulder pattern breakdown hence the next emminent important level can be seen around 16800 which is also a psychological level hence any signs of reversal around the given level can show good upmove hence keep watching as we might see a strong upmove around given level
A morning star is a visual pattern made up of a tall black candlestick, a smaller black or white candlestick with a short body and long wicks, and a third tall white candlestick. The middle candle of the morning star captures a moment of market indecision where the bears begin to give way to bulls. The third candle confirms the reversal and can mark a new...
Dear All, As we had mentioned in our Yesterday's Morning Mantra that Nifty is now ready to taste the level of 16800 , the same was accepted by the market itself. As even after a beautiful gap up opening and a high of 17211.35 , Nifty had once again failed to sustain the level of 17180 . Well as of now, we will have to keep patience and watch for ...
Banknifty has given a nice bearish engulfing candle and the global markets are too trending in the negative momentum. Even after a gap up opening the market has closed 360 points lower giving a 1000 points move from day high. On hourly charts, the market has taken a rejection from the 20 ema and from the first candle onwards it came for selling. In last 5...
As we can see NIFTY did show some good fall but despite the fall we can still see NIFTY has some space to fall till 16800 hence if NIFTY couldn’t sustain above yesterday’s low we can see more of fall incoming till 16800 before finally reversing hence we must focus on hesterdsys low and make sure its taken out before going short as we might see some volatility...
A morning star is a visual pattern made up of a tall black candlestick, a smaller black or white candlestick with a short body and long wicks, and a third tall white candlestick. The middle candle of the morning star captures a moment of market indecision where the bears begin to give way to bulls. The third candle confirms the reversal and can mark a new...
Hammer candlesticks typically occur after a price decline. They have a small real body and a long lower shadow. The hammer candlestick occurs when sellers enter the market during a price decline. By the time of market close, buyers absorb selling pressure and push the market price near the opening price. The close can be above or below the opening price, although...
Go Long above 1203.35 for Targets of 1286.7, 1370.05, and 1453.4 with SL 1120 Reasons to go Long : 1. On a Weekly timeframe if we draw the Fibonacci retracement tool from the recent swing low (point A) to the recent swing high (point B) then we see stock took support from the 0.618 Fibonacci level. 2. Also a bullish candlestick pattern Bullish Hammer (marked...
Go Long above 27.95 for Targets of 31.1, 34.25, and 37.4 with SL 24.8 Reasons to go Long : 1. On a Weekly timeframe if we draw the Fibonacci retracement tool from the recent swing low (point A) to the recent swing high (point B) then we see stock took support from the 0.5 Fibonacci level. 2. Also a bullish candlestick pattern Bullish Engulfing (marked with...
Nifty has been trading in a bearish territory and is weaker than the other index. It has formed a doji after touching the round number figure of 17000. It has been forming lower high lower low formation and has consolidated in a narrow range in the second half of the trading session. On the hourly time frame, the market has been trading far below the 20 ema and...
Banknifty on the daily time frame has formed a perfect doji. The markets initially were in confusion but tested the lower levels taking support around 39200 levels. In the second half of the trading session the markets were volatile and consolidated in a 300 points range. On the hourly time frame, the market has closed below both the moving averages and forming...
As we discussed in the last analysis that nifty has formed more like a head and shoulders pattern and the break of neckline of that very pattern could show strong bearish move hence now we can see NIFTY has more space to fall till its next support standing around 16800 levels hence if NIFTY breaks yesterday’s low we can makw another short position else nifty might...
Dear All, Just like we had stated in the yesterday’s Morning Mantra update , that Nifty can create some panic around the level of 17300 and that it can take a support at around 17180 , which will work as a speed breaker in between the levels of 17300 and 16800 level. Similarly , we did witness almost the approximate figure of 17154 , which is very near...
ABB Cmp 3274 dated 13-3-2023 1. Bearish Engulfing Candle @ Resistance 2. Trendline breakdown @ 3235 3. RSI breakdown Sell below 3265 for target 3220-3130-3060-3000 SL 3370 It is just a view, please trade at your own risk.
Banknifty has finally closed below the 200Dma which suggest a move of a bearish market cycle. The market has closed 920 points lower near the support zone. If the market starts trading below 39500, the market can fall another 500 points taking support around the round number figure. On the hourly time frame, a bearish moving averages cross over is there and the...
Nifty has fallen around 400 points from the day high. An bearish engulfing candle has been formed. The moving averages are close enough and will form a bearish moving averages cross over in the coming sessions. On the hourly charts, the market touched the 20 ema and reversed, giving close below the recent low of 17260. The markets are bearish in short to medium...
Navin Flourine Cmp 4217 dated 9-3-2023 1. Shooting Star Candle @ Resistance Sell below 4200 for target 4170-4120-4070-4040- 4000 SL 4320 It is just a view, please trade at your own risk.
Excellent bullish engulfing on Weekly time frame. Great Risk to Reward. Similar pattern seen in almost all Banking stocks including BANKNIFTY.