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Bank nifty Analysis for upcoming monthAfter analyzing the Bank Nifty charts, I am expecting a 10% fall in the index, as there are clear signs of a breakdown on the weekly and monthly timeframes. Here are the details of the analysis: Key Observations: 1. **Support Levels:** - Immediate support lies in the 47,000-48,000 range. - Once these levels are broken, the next key support levels are around 43,300-44,000, indicating a potential 10% decline from the current levels. 2. **Price and Volume Analysis:** - Volume analysis aligns with the price action, highlighting 44,000 as a strong support zone. - A triple top chart pattern is visible on higher timeframes, which is a bearish reversal pattern, further supporting the bearish outlook. 3. **Macro-Economic Factors:** - Weak Q3 results from companies may act as a catalyst for the decline. - The Indian Rupee has shown signs of weakness, adding pressure on the banking sector. 4. **Foreign Money Outflow:** - Continued sell-off due to foreign institutional investor (FII) outflows could further exacerbate the downtrend. Important Note: This analysis is purely for **educational purposes only** and should not be considered as investment advice. Please conduct your own research or consult a financial advisor before making any investment decisions.
NSE:BANKNIFTYShort
by Sanil1912
Ramkrishna Forgings cmp 957.10 by Weekly Chart viewRamkrishna Forgings cmp 957.10 by Weekly Chart view - Price Band 880 to 905 Support Zone - Next Support Zone at 695 to 720 Price Band - Price shouldering along Rising Support Trendline - Price has sustained above Falling Resistance Trendline - Volumes surged heavily last week Friday by a demand based buying - Weekly Support at 880 > 788 > 695 with Resistance seen at 995 > ATH 1065.05 - Technical Indicators inching towards positive mode for MACD, RSI and Price trending above EMA 21, 50, 100, 200
NSE:RKFORGE
by PIYUSHCHAVDA
Bearish Reversal: Supply Zone to Profit Zone Uptrend and Resistance Trendline : Correct Analysis: The chart shows a clear uptrend marked by higher highs and higher lows. The price eventually breaks this uptrend with a significant downward move, indicating a possible Break of Structure (BOS) and trend reversal. Break of Structure (BOS) : Correct Analysis: The BOS is valid as the price broke below a significant swing low within the uptrend, showing that bearish momentum has overpowered the bulls. Change of Character (CoCh) : CoCh is visible in two locations, where the price shifts from making higher highs and higher lows to creating lower highs and lower lows, indicating a bearish reversal. This confirms the weakening of the bullish structure. Supply Zone The supply zone is well-marked, encompassing: Order Block : A bearish candle before the strong down move, representing institutional sell orders. Price Imbalance (FVG) : A visible gap in price action, where sellers were dominant and buyers failed to fill the gap completely. The price often retraces to these levels before continuing its direction. The price has rejected this zone, suggesting it’s acting as resistance. Overbought RSI : The RSI entered overbought territory during the prior rally, followed by divergence and a downward move. This supports the idea that the bulls are losing momentum. Targets : The highlighted demand zone around 76,000 USDT aligns with a strong historical support level. If bearish momentum persists, this zone is a logical target. Below it, the next demand zone around 68,000 USDT is valid as a long-term target. Potential Short Setup : Given the BOS, CoCh, supply zone rejection, and overbought RSI, a bearish bias is justified. A short trade targeting the demand zones you’ve marked aligns well with the analysis. Refinement: Volume Confirmation: Look at the volume profile to ensure that the BOS and CoCh are supported by high bearish volume. This strengthens the bearish thesis. Bearish Candlestick Patterns: Monitor for further bearish confirmation (e.g., bearish engulfing or pin bar) in the supply zone to increase trade confidence. Lower Timeframe Analysis: If unsure about entry, drop to a lower timeframe (e.g., 1H or 15M) to confirm rejection or bearish structure.
Short
by MyT_Trader
Bharati Airtel Ltd view for Intraday 11th Jan #BHARTIARTL Bharati Airtel Ltd view for Intraday 11th Jan #BHARTIARTL Resistance 1600 Watching above 1750 for upside movement... Support area 1570 Below 1585 ignoring upside momentum for intraday Support 1570 Watching below 1585 or downside movement... Resistance area 1750 Above 1600 ignoring downside move for intraday Charts for Educational purposes only. Please follow strict stop loss and risk reward if you follow the level. Thanks,
NSE:BHARTIARTLLong
by EmpireCrown
ICICI Bank Shorting Opportunity Confirmed: Multiple Bearish SignThe broader market has entered a bearish trend, and ICICI Bank, a less-moved stock compared to other banks, is now showing signs of catching up. Technical Confirmations: Trendline Break Ascending Triangle Breakdown Lower Lows Entry for Short : 1245-1243 Range (Can Take 1240/1260 PUT Option Current Month Expiry and/or Next Month Expiry to avoid Volatility) Target : Open/Mentioned. STOP Loss : 1275/Swing High How do you find this analysis? Follow for more actionable trade ideas like this! Happy Trading !!
NSE:ICICIBANKShort
by Vikrant_Mighty
4
Is the Bearish Trend Continuing?The EUR/USD pair is currently trading at $1.0244, continuing to face strong selling pressure after failing to sustain above the resistance at $1.0300. The chart shows that the downtrend is still in place, with the price below both the 34 and 89 EMAs, and there is a bearish crossover between the two lines – a negative signal. The downtrend line connecting the lower highs continues to act as a strong dynamic resistance. The $1.0300-1.0330 price zone is a key resistance area, and only a breakout above this area can the uptrend resume. On the contrary, the support zone at $1.0200 is under threat. If the price breaks this level, the next target will be the $1.0150 zone, and even deeper towards $1.0100. RSI: Currently at 31.28, near oversold territory, suggesting that selling pressure may have temporarily dried up. However, the fact that RSI has not bounced strongly into the 40-50 zone suggests that the upside momentum, if any, will be weak and corrective. For now, I am leaning towards a break of the $1.0200 support level, due to selling pressure from fundamentals and technicals. However, it is important to watch the price reaction at this support level carefully. If there is a bullish divergence on RSI or a strong reversal candle, this could be an opportunity for short-term buy orders. The focus to watch is the $1.0300 zone – if it fails to break, the downtrend will continue to dominate
by jennie_hyun