Candlestickpattern
NIFTY VIEW for 30/OCT/2019Today we saw a very good move and long position build up. Today’s resistance point was 11800 and it worked very well today’s high is 11809.
What Next?
I am bullish and looking for more 170 points of move in tomorrow session and and it will touch 11970, “The market which was already trading with a positive bias picked up momentum after media reports suggested that Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman are planning a series of tax alignments for equities in the coming weeks in a bid to further boost investor sentiment, sources in the Finance Ministry and NITI Aayog told CNBC Awaaz.”
Source- Money Control
Levels- Long @ 11770, SL- 11740 TG- 11970(for two days view)
Buy on dips
Nifty View for 31/OCT/2019Today we saw consolidation at the upper level. And formed a bearish candle with rejection from lower level on daily chart.
What Next?
Above - 11880 go long for 11967 - I am expecting this to work
Below- 11814 go short for 11755
NIFTY VIEW@1/NOV/2019Today I was expecting a bullish move and it was but in last hour we saw selling pressure from 11946 level and my resistance level was 11926.
Now on the daily chart it has formed long upper shadow with little body.
@What next?
By looking at the daily candle of today, I am bit bearish because there is a resistance on weekly chart and 11926 is the weekly resistance.
so for tomorrow I am looking to short below 11856 and long above above 11877 for the todays high as first target.
Level- Short below- 11856 SL- 11877, TG 11800
Long Above- 11877 SL- 11856, TG 11926
Disclaimer- This is for education purpose.
NIFTY VIEW for 22/OCT/2019@18/OCT/2019
On previous trading session nifty gave a good intraday move. And it made high of near around 11695.
@Weekly Analysis
Since previous two week we saw a bullish movement.
@Tomorrow-
Today exit poll announced in Maharashtra and it going into the favour of BJP and market may be looking it as a good sign and expecting a stable government.
Market may react on this news, so if its getting open above then you may wait for it to come 11700 level to buy.
Level- Buy above @ 11700
Buy on dips.
Don’t short in this market.
BANKNIFTY VIEW for 15/10/2015Bank nifty slowly changing its market structure.
as of now trading in range bound and it has travelled nowhere since 1st October.
#NIFTY VIEWYesterday we witnessed much volatile day, sharp upside and then a sudden fall. while upside most of the trader has trapped but those who were looking on 15 min candle it was clearly indicating a fall but nobody has expected the sharp fall.
@MONDAY
Now what is going to happen on Monday.
Still I am looking for a bullish day, Yesterday we saw a sharp rejection from the lower levels 11190 which was weekly support and later almost candles has formed lower shadow, which is indicating an upside move. Now if Monday it holds 11361 then we can see upside move.
#NIfty ViewYesterday we witnessed much volatile day, sharp upside and then a sudden fall. while upside most of the trader has trapped but those who were looking on 15 min candle it was clearly indicating a fall but nobody has expected the sharp fall.
@MONDAY
Now what is going to happen on Monday.
Still I am looking for a bullish day, Yesterday we saw a sharp rejection from the lower levels 11190 which was weekly support and later almost candles has formed lower shadow, which is indicating an upside move. Now if Monday it holds 11361 then we can see upside move.
Britannia forming Morning star Pattern at major support & VolumeHi Traders,
Britannia forming Morning star Pattern at major support with good Volume.
Bullish View on stock due to below point:
1) Britannia has taken support at major support (22250-2400) ,which was major consolidation / support zone in Jan -Feb 2018 times. See chart for more detail.
2) It has form reversal pattern of morning star candlestick pattern with good volume.
What Indicator are says:
1) RSI out of oversold position & RSI above 40 will take stock out of bear control.
2) Stochastics RSI has make advance breakout , which tell bull control in near term. See chart for more detail.
Target :
T1 : 2620 (Book 50-70 % as per risk capacity)
T2 : 2730 -2830 zone. (Book remaining 20 % profit)
T3: 2930 zone (Hold remaining 10 % & can add new position if stock sustain good period of time above 200 sma)
Strict Stoploss : 2300 low of Morning star pattern
Happy Learning );
Disclaimer : This is post only for educational purpose . Do your analysis before taking position or trading.
UPL SUPPORT AND RESISTANCEKey Levels for UPL are :
Upper Breakout~555
Interim Resistance~569
Final Resistance~580
**Lower Levels**
Lower Breakout~535
Interim Support~512
Final Support~497
Please trade with caution and consult your financial adviser before trading. You can also join our TELEGRAM channel from the below mentioned link, t.me
TATASTEEL SUPPORT AND RESISTANCEKey Levels for TATA STEEL are :
Upper Breakout~350
Interim Resistance~355
Final Resistance~361.50
**Lower Levels**
Lower Breakout~337
Interim Support~330
Final Support~324
Please trade with caution and consult your financial adviser before trading. You can also join our TELEGRAM channel from the below mentioned link, t.me
Nifty is in a bullish pennant pattern.Nifty will go up after 10778. since it is in a Bullish Pennant Pattern
TCS faced Resistance at Higher level & Indicator turn negative Hi Trader,
TCS faced Resistance at Higher level (see chart) & Indicator also turn negative as well.
Bearish view due to below point:
1) TCS faced Resistance at Higher level 2260-2290. Got 3 times reverse from there.
2) TCS will major support at 2030 -2050 price range for good risk reward trade.
3) Big Bearish Engulfing candle form at daily chart .
4) Bearish Engulfing candle form with high volume more than 20 day average. See chart for more detail
What Indicator are saying:
1) RSI gone below 50 level . Bear will more control stock now.
2) Force Index oscillator gone below zero level mean bearish trend.
Happy Learning );
Disclaimer : This is post only for educational purpose . Do your analysis before taking position or trading.
Candle Speak it ALL...no rocket science...MAking trading simple.Speaking Candles:
This is a 15 chart of Nifty Bank last Friday session as on 9/8/19.
Candles are so accurate when they try to tell us the next upcoming move.
So, here we will discuss the candle formation marked in the red coloured box.
The first candle is green with a small wick and also closed above last 3 days high.
Now why the immediate candle is red. The big scalpers booked profit here and it has a tail which tells us that index is rejecting the down prices. It also means the index deserves much higher rate as of today.
Now, lets come to the 3rd and the 4th candle, again both having wicks and one can assume lower price rejection. So hold the longs since morning.
Here the 5th candle touches the Daily R1 but has
heavily seen buying and closed above R1, Still staying long in the market.
Now please observe minutely, 6th and 7th candle.
One with a wick is green and one with a tail is red.
Here starts the tug of war between the Bulls and Bears.
Now 8th and the 9th candle went up as the 7th candle showed lower
price rejection.
10th candle again showing lower price rejection which helps the candle
11, 12, 13 and 14 touch the higher resistance.
Now think the reverse, we have started getting wicks with the resistance approaching near forming tiny indecision candles at the day's high.
What next?
Wait for a signal??? Yes indeed.
Look at the 17th candle its a dozi and that too at days high and touching the resistance the 4th time.
Second confirmation is: look at candles 14 -17. All having wicks near the resistance.
So, now one can initiate a Short trade with the SL of the above Green dotted Line. How beautiful the candles speak with us.
We just need to understand their language. Max. 2 trades in Index per day are more than enough.
Don't over trade.
#BankNiftyAs in a chart there is a huge gap up between 29565-30102,
INDVIX forming a lower high and lower low, and currently stand @ ,it's indicating market will be more cheap in future time.
BankNifty is already fall from it's all time high, so we can expect that price will come down to fill this huge gap.
In future there is a probability BankNifty will come to it's fair price range @30102-29565, but the fairest demand zone stand @ 28670.
Nifty View 30 May 2019Nifty Daily chart finds a confluence of 2 different bearish candlestick pattern. First the Hanging Man which formed one day prior to last, low of which was breached. This implies that there is potential in this Hanging Man pattern to work and maybe drag prices on the downside. Second, if we consider the last three candles, then an Evening Star shapes up, and its a pretty clean setup. So essentially, we are looking at two bearing pattern confluences together which can lead to some profit taking. Trigger of fresh selling will come only below yesterday's low of 11,835.
ONGC - Long on Ascending Channel BreakoutIf Ascending Channel breakout happens with appropriate volume, a long position can be made.
Entry - 176.70
Target - 187
SL - 171.70
