NIFTY50 - Long setup , 2hr TFIn the last three trading sessions, Nifty corrected 300 points from 25450 to 25150 . Support is now at 25150 , Change in polarity. What was previously resistance will now act as support.
Key Levels to Watch:
Immediate support at 25150.
Further Upside target around 25450.
Trade Plan:
Enter long above 15 min bullish candle close.
Stop loss 25100 to limit risk.
Target 25450 for conservative exit or trail stop as price moves Higher.
Disclaimer: Risk management is crucial in this volatile market, so keep position sizing appropriate. This analysis is intended for educational purposes and not financial advice.
Changeinpolarity
#kotakmahindrabank:flag pattern&channel breakoutmomentum and trend indicator now showing that all timeframes are bullish
stock had earlier broken out of resistance zone back in nov 20 but had retraced back
to take support at previous resistance and then bounced from change in polarity aug 2021.
Monthly weekly had been retracing in a trendline channel forming a flag pattern
which broke out further up last week. There is likely for further up-move and an entry
above current candle high with stop loss close below neckline on resistance zone
could work out.
#hdfcbank could bounce bullish divergence and change in polarity#HDFCBANK after breakout beginning of month it has retraced to resistance zone which could result in
change in polarity bounce in addition it now has bullish momentum reverse divergence as well both on daily
that could take it back to 1598 at least. remember both are not confirmed yet.
however make note that there is resistance up there at 1641 but that has enough points to trail for a swing trade
#nationalaluminium #nalco bullish momentum reverse divergence #nationalaluminium #nalco
4 bar bullish momentum reverse divergence seen on weekly charts that could pull up to 98 levels again.
Daily momentum has taken support and bounced up.it could also turn out as a resistance acting as support
and change in polarity bounce up move is also a possibility. Long entry on confirmation if next week candle staying
above this weeks low as stop loss could work out low risk trade. metal sector is also having enough momentum.
#kotakmahindra channel momentum breakoutkotakmahindra weekly may be having a channel breakout on upside and it is also a previous resistance area.
momentum on weekly has taken support from rsi 40 and bounced up while daily momentum and trend has now
climbed into bullish zones. This could also be looked as a potential change in polarity bounce on weekly
where it broke put earlier from resistance and then came back retest same support more than once and now
could be moving up.