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WaveTalks - Nifty: Channel Trading Strategy WaveTalks - Nifty: Channel Trading Strategy There are three (3) types of channels: 1. Ascending Channel (higher highs and higher lows) 2. Descending Channel (lower highs and lower lows) 3. Horizontal Channel (ranging) ------------------------- Ascending channel ------------------------- An Ascending channel is a pattern formed from two upward trendlines drawn above and below a price representing resistance and support levels The ascending channel is also known as a “rising channel” and “channel up“. Ascending channel has a rectangle shape (Current Case – Nifty / 20th Oct2021) --------------------- Trading Strategy --------------------- As long as prices remain within the ascending channel, the upward trend in price can be expected to continue. 3 Supports shown as 17613 – 1st Support / 17864 – 2nd Support / 18209 - 3rd Support When executing trades based on a trendline, it is important that the trendline is a valid one / How do you know it is valid – 2 points required to draw a trendline & 3rd point which is 18209 if falls & takes support then it confirms that the trendline is a valid one. So, Any Buy or Long Trades should be executed with stops below the trendline so 18209 is an important level. Traders can keep 18200 level which is a psychological level. ------------------------- Descending channel ------------------------- A Descending channel is a pattern formed from two downward trendlines drawn above and below a price representing resistance and support levels. The descending channel pattern is also known as a “falling channel” or “channel down“. ------------------------- Horizontal Channel ------------------------- A horizontal channel is a chart pattern formed from two parallel trendlines drawn above and below price representing resistance and support levels -------------------------------------------------------------------------- The Last Idea - Bulls Yelling The Excitement - Gap Strategy -------------------------------------------------------------------------- Hope you enjoyed selling at the tops 18600 for 18200 approx. Nifty Index took support in the 2nd Gap. Are You Ready for the Next Move?
NSE:NIFTYEducation
by WaveTalks
14
Bank Nifty - My trading SetupI always follow the KIS (Keep It Simple) principle in my trading. I simply trade what my chart says. Bank Nifty has been trading in an upward rising channel. So, which side to choose (bullish/bearish) is self explanatory. But, let me just put it out for you. As you may see on the chart that the upper channel line is acting as a good resistance and the lower channel line is acting as a good support. I wait for the price to touch either the upper line or the lower line. I sell CE once it takes a U turn from upper line and similarly I sell PE once it deflects from lower channel line. The center line acts as a neutral but important zone. A reversal from this line means CE selling and a strong crossing above it means PE selling. Trades can be taken based on how the move behaves on a 15min time frame. But this is not a HOLY GRAIL and is not that easy as it seems. Markets are supreme and need not follow what we think or have decided. Hence, always be alert and change/cut your position accordingly and do no hesitate from taking a loss. Disclaimer: Do not simply dive into trading acc to what has been told above, do your own due diligence, put your own brain to it and then decide your levels/positions/setup. The idea behind sharing this was to impart knowledge/perspective to look at charts and not a recommendation. Happy Trading!! :)
NSE:BANKNIFTY1!Education
by Ankit_Oberoi
28
#Mothersumi Good short term buy As we can see #mothersonsumi system has formed an inverse cup and currently forming a channel where we can expect few levels for a short-term period. Below is the level Level 1:- Closing and Sustaining above 221.95 Level 2:- 230 (Once this target is achieved we can expect a shortfall followed by a small bull run) Also, the indicators are showing a good buying sign, MACD - cut up Rsi - 54.34 All the levels mentioned can also be considered as Support and Resistance lines.
MLong
by Dhaval_Parekh
ICICIGI - Watch out for the Breakout🔴DISCLAIMER ***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ****** Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout) After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
NSE:ICICIGILong
by PrakWorld_Traders
BEL - Channel Pattern break - ATH🔴DISCLAIMER ***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ****** Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout) After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
NSE:BELLong
by PrakWorld_Traders
Motherson Sumi - Reversal from channel bottom🔴DISCLAIMER ***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ****** Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout) After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
MLong
by PrakWorld_Traders
2
PEL - Channel pattern breakoutPiramal Enterprise had taken a good breakout from its channel pattern and also retest done, so give an entry with appropriate Stop loss only after its breakout 🔴DISCLAIMER ***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ****** Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout) After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
NSE:PELLong
by PrakWorld_Traders
BANK NIFTY ANALYSIS FOR 10-06-2021Do not Trade in between 35200 - 34980 . Buy Above 35850 for the Targets marked on Chart Sell below 35670 for the Targets marked on Chart Make Selling Entries only when the treadline will perform break down . If Market gives a buying opportunity , take the target only for the level of Upper Tredline . My View for the Market is Bearish for Tomorrow's Expiry . Take Entries when Market sustains above / below our levels Avoid entries , if there is a Huge Gap Up / Gap Down Take Entries as per Price Action ** Only for Educational Purposes ( As you all can see our daily Analysis , Bank Nifty is respecting all our analysis with treadlines and Support & Resistance Lines ) PLEASE DO LIKE , COMMENT OUR POSTS .
NSE:BANKNIFTY
by ULTRA-TRADER
2