The previous trade -
New trade -
Sell 2550CE
Sell 2350PE
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at...
#Nifty and #Banknifty saw a very interesting close to the week.
After painting a grim picture in the first half, they saw a V-shaped recovery which propelled price up to p.close. So unless you were looking at the charts and #priceaction, the EOD closing would show a flat day.
The indices have still formed an LH-LL formation, which isn't suitable for bulls. This...
I've tried my best to clearly explain the upcoming nifty price action, to my best.
This is my point of view, and is purely what I think could be coming
Both, nifty50 and banknifty saw a bearish Thursday expiry.
After the gap down open, there was a brief attempt to reclaim highs, but selling pressure came in around 50MA on the Hourly chart for Nifty and around 34,870-34,700 for Banknifty.
There was a minor relief rally towards the end preceded by a shakeout, this time at 1415h instead of after 1430h....
Nifty and Banknifty both saw a weak day today, with higher levels being rejected after a weak intraday momentum.
While option decay was present, trying to go contra might have yielded a better RR as even though the broader bias appeared to be on the downside, we did see a few very strong spurts, especially the first candle in Banknifty.
So let's analyse #nifty...
THE CHART IS BEAUTIFULLY FORMING A CUP AND HANDLE AS WELL AS REVERSE HEAD AND SHOULDER PATTERN IN DAILY CHART....
YOU CAN WATCH MY ANALYSIS FOR CLEARIFICATION
ENJOY!!!!
Nifty is just a smudge away from 16k! Private banks, Media and Realty stocks did quite well today, with PSU banks and many other sectors retracing.
Interestingly, Banknifty saw some strength in the second half, but Nifty saw some selling.
Let me break it down for you, candle by candle. Along with the top stocks, Reliance, HDFC Bank, Infosys, HDFC, ICICI Bank,...
![HINDUNILVR: [Turtle] Discussion on HUL Stop Loss Trigger and New Trade](https://s3.tradingview.com/6/6gvzwdoM_mid.png "[Turtle] Discussion on HUL Stop Loss Trigger and New Trade")
