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Channelbreak

22nd Dec ’23 - BankNifty's trades today were logical & realisticBankNifty Analysis The trades on BankNifty were more practical and appropriate to the situation we have at hand. 4mts chart link - click here We opened in line and then tested the top of the ascending channel from 10.03 to 12.03. There was rejection at those levels which took BN quickly to the bottom of the channel. We spent 13.43 to 15.11 at the lower end before breaking down. Even though the closing was below the channel, we ran out of time for conclusive evidence. Yesterday we went with a neutral stance believing BankNifty will be able to lead the fight for Nifty50 today. What really happened today was NiftyIT taking the pole position and BankNifty breaking down. 63mts chart link - click here The last 4 candles of today were in RED and we ended just below the channel. For Tuesday, I wish to go with a bearish stance. So at present, my directional view for both Nifty and BankNifty is bearish. Since we have a long weekend - anything could happen when we reopen on Tuesday. I have not taken any positions overnight and decided to play as per the situation after reopening.
NSE:BANKNIFTYShort
by viswaram
18th Dec ’23 - BankNifty stance changed from bullish to neutral BankNifty Analysis We got some interesting moves today by BankNifty. During pre-open ICICI bank was looking very weak but other banks were looking okay. But once markets opened - BN fell to 47810 by 09.19. The 2 horizontal blue lines I have drawn are the weak support and resistance lines from the last 2 days of action. BN went above the 47873 and was trading above that for most of the time. 4mts chart link - click here We got one hit at 13.11 and the 2nd one by 14.43. After the 2nd hit, BN briefly fell below the support level and the final closing was at 47862. The LOD was broken 15.23 - so it is like we closed into weakness. The distance to my target of 47754 remained at just 52pts. And that is the main reason why I prefer to change my stance from long to neutral for tomorrow. 63 mts chart link - click here If BN builds back momentum by tomorrow afternoon (FinNifty’s expiry could help), then it has to take out the ATH - only then I would prefer to switch back to bullish mode. To go bearish, the first step BN has to do is take out the top boundary of the ascending channel pretty quickly.
NSE:BANKNIFTY
by viswaram
Trygin Tech bullish BO of 14 Month long Consolidation A bullish breakout of 14 month long consolidation in NSE:TRIGYN . Daily & Weekly RSI both are in bullish zone. One can crete fresh position in NSE:TRIGYN at 122 or below with a stop loss of Rs. 110 for 1st target of Rs. 133 and 2nd Target of Rs. 144 The risk to reward ration is 1:2 Exit the position if the stop loss triggered on DCB. DO YOU WANT ALL MY RESEARCH FOR FREE THEN DON'T FORGET TO FOLLOW ME. I AM EAGERLY WAITING FOR YOU COMMENTS ON THE STUDY... Disclaimer: Content shared is for information and education purposes only and should not be treated as investment or trading advice. Please do your own analysis or take independent professional financial advice before making any investments based on your own personal circumstances. Investment in securities are subject to market risks, please carry out your due diligence before investing. And last but not the least, past performance is not indicative of future returns.
NSE:TRIGYNLong
by raigvivek
28 Aug ’23 Post Mortem on Nifty - critical juncture 19310Nifty Analysis Contrary to the expectations, today turned out to be a boring day. The open was right at the SR level of 19310, still it was gap up as our prior close was near 19250 levels. Even then the resistance breach did not come then, we had to wait till 11.15 for a 5mts candle above the SR zone. BankNifty was looking in tremendous form today, we will discuss that separately in the analysis below. Due to this Nifty was also staying afloat, the real breach of resistance came at 12.30 only. And it looked like we may break out from the channel today. But by 14.05 it became quite clear that we will not have a break-out today. Surprisingly Nifty gave a final close below 19310 which still gives hope to bears. On the 1hr chart - things are still not clear. There is an overlap of 2 technical patterns. 1. Walling wedge 2. Bearish channel Most importantly the 19310 support/resistance stands in between. A break in support may cause Nifty to follow the bearish channel. Whereas a breach in resistance will give Nifty breakout momentum as it exits the falling wedge. I wish to go with a neutral stance for tomorrow till we get some clarity.
NSE:NIFTY
by viswaram
DBREALTY FOR MORE THAN 100% IN NEXT...Stock: DBREALTY Timeframe: Daily chart Current Price: 134 Channel Breakout Level: 136 Trade Overview: In this trade idea, we'll analyze DBREALTY, a stock that is poised for a potential breakout of a 2-year channel pattern on the daily chart. The presence of a strong bullish volume surge, coupled with a bullish outlook for the real estate market, enhances the conviction for this trade. Trade Plan: 1. Entry Strategy: Enter a long position if DBREALTY' price breaks above the channel breakout level at 136 with a decisive bullish candle. Confirm the breakout with strong bullish volume, as observed in the last 4-5 days. 2. Stop-Loss: Set the stop-loss just below the breakout level, around 115. This level should provide reasonable protection against potential false breakouts. 3. Take-Profit Targets: Set take-profit target 1 at 200, take-profit target 2 at 240, and take-profit target 3 at 300. Consider taking partial profits at each target level while allowing a portion of the position to run for potentially higher gains. 4. Risk Management: Given the potential for substantial gains, manage risk diligently. Allocate only a small percentage of your trading capital to this trade (e.g., 1-2%). As the trade progresses in your favor, consider trailing the stop-loss to lock in profits and protect against sudden reversals. 5. Additional Considerations: Monitor the broader market trends and real estate sector indicators to validate the potential for a sustained bull run. Stay informed about any company-specific news or announcements that could impact DBREALTY performance. Factor in potential resistance levels that might impede the stock's upward movement. ===================================== Note : This trade idea is for educational purposes only and should not be considered financial advice. Always perform your own research and consider consulting with a financial professional before making trading decisions.
NSE:DBREALTYLong
by ZoneFlow
Long- Nifty Infra Broadening Wedge FormationNifty Infra: The Index was consolidating from April' 09 - Feb' 21 within a channel of 2164-3729 as upper and lower bounds respectively. After Feb'21 the index broke out from it's 12 year consolidation and had a steep surge to 5381 levels as 42.54% gain within a year on monthly charts. Since January 2022, the index has been forming a Broadening Wedge Pattern in an uptrend and is near its crucial resistance of 5173 where it has faced some supply pressure. The readings from indicators and Trendline support and resistance levels shows that index may breakout from from the upper bound of 5100 on trendline where it has faced selling pressures since 8 months now and the rally may take this index to 6046 levels within a year with a 20+% gain. The trend looks strong but keeping in mind any headwinds if supply side pressure continues in next month the index will again return to it's movement in the broadening wedge with 4200-5100 as upper and lower bounds respectively. //For Research and Educational Purpose only
NSE:CNXINFRALong
by chandakpulkit
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