NCCNCC looks attractive, Please consider and do analysis, risk at your own.
1. Now at the edge of channel breakout point
2. With SL 300, this looks very demanding risk reward
3. During this weaker market, momentum looks good too
Chart Patterns
UPL by KRS Charts21st October 2024 / 10:05 AM
Why UPL ❓
1️⃣ UPL is Bullish Stock long term wise with Decent Fundamentals. 📈
2️⃣ Recent March Low seems like Higher Low in bigger picture ✅
3️⃣ UPL has Formed Inverted H&S and Breakout from it and currently Reversing to Bullish again after Retesting from Prev. Resistance. ↗️
4️⃣ 1D TF, Bullish Hammer is visible and today also moving strong Upside 🔅
UPL Target 716 Rs with SL of 520 1W Closing Basis
Bitcoin: BTCUSD bulls struggle amid overbought RSI, $70,100 eyedOn Monday morning, Bitcoin (BTCUSD) experienced slight losses after reaching a three-month high. This movement highlights overbought RSI conditions, indicating weak upside momentum beneath the horizontal resistance area established since early June.
Buyers remain hopeful
Despite overbought RSI conditions and facing key resistance, Bitcoin (BTCUSD) buyers remain optimistic. The pair is holding above last week’s breakout from a descending resistance line, which is now acting as support around $67,700. Additionally, bullish MACD signals suggest strong buyer momentum.
Key technical levels to watch
The horizontal resistance around $70,100 is a key barrier for Bitcoin bulls. They should also monitor the $70,000 threshold and recent highs near $72,000 as additional hurdles. If BTCUSD breaks through, the yearly peak near $73,800 and the $75,000 mark will attract buyers' attention.
If Bitcoin (BTCUSD) breaks below the former support at around $67,700, it could trigger a short-term decline. Key levels to watch include the previous monthly high near $66,500 and the 200-SMA support around $63,300. If prices fall below $63,300, the next significant support is at $62,500. A move past that could lead to a drop towards the psychological level of $60,000 and potentially a monthly low of around $58,870.
Upside potential remains intact
Overall, Bitcoin (BTCUSD) buyers are likely to remain in control despite the challenges at key resistance. However, a price pullback is possible if the US Dollar strengthens from this week’s PMIs and Durable Goods Orders data.
Bank Nifty Took Rejection from Supply Zone .Bank Nifty Took rejection from Supply Zone .
if sustains down trend we can see a fall till Demand Zone
Nifty Intraday Levels | 21-OCT-2024This trading strategy focuses on scalping Nifty options based on institutional support and resistance zones and executing trades using order flow data. Here's a quick summary of the key points:
1️⃣ Zones to Focus on:
👉Green Zone: Represents institutional support.
👉Red Zone: Indicates institutional resistance.
👉Gap Between Zones: Typically ranges from 100-200 points.
👉Zone Creation: Uses pivot points and Fibonacci levels.
👉Price Action: An advanced version for refined entries and exits.
👉Chart Reference: Trades are executed based on the Nifty futures chart.
2️⃣ Trade Execution:
👉Order Flow Data: Trades are triggered by tracking the market's order flow.
👉Timeframes: Focus on the 1-minute and 5-minute charts for quick scalps.
👉Risk-Reward Ratio: Strict 1:2 (Risk 1 to gain 2).
👉Strike Price: Target at-the-money (ATM) or slightly in-the-money (ITM) options.
👉Position Sizing: Customize based on personal risk tolerance.
3️⃣ House Rules:
👉Sharp Execution: Be ready at 9:15 AM for market open.
👉Risk Management: Always a priority.
👉Quick Trades: Fast execution "morning breakfast".
👉Strict Stop-Loss: Set at 10 points to limit losses.
This method is well-structured for traders who prioritize risk management and quick scalping opportunities in the Nifty market.
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#nifty directions and levels for October 16th.The global markets are still bullish, while our local market is showing a moderately bearish trend. Therefore, there is no clear direction for the short term. Today, the market may open with a slightly positive start. If this happens, we can expect that Friday's pullback may continue further. Let's explain it one by one.
Current View:
If the gap-up sustains, we can expect the pullback to continue, with some consolidation around the resistance levels. For Nifty, the expected target range is 25003 to 25059
Alternate View:
The alternate view indicates that if the market declines initially, or if it rejects around the immediate resistance, we can expect a correction of38% to50%.
> It is important to note that we cannot assume this is a correction even if the market breaks the50% Fibonacci level, as the structure exhibits a bit of a bullish bias. Therefore, we should look for some additional confirmation to predict the correction. If this happens, I will inform you during market hours.
#Banknifty directions and levels for October 16th.Current View:
If the gap-up sustains, we can expect the pullback to continue, with some consolidation around the resistance levels. the target range is 52514 to 52642.
Alternate View:
The alternate view indicates that if the market declines initially, or if it rejects around the immediate resistance, we can expect a correction of38% to50%.
> It is important to note that we cannot assume this is a correction even if the market breaks the50% Fibonacci level, as the structure exhibits a bit of a bullish bias. Therefore, we should look for some additional confirmation to predict the correction. If this happens, I will inform you during market hours.
Gas Sector Gathers Steam: IGL & MGL's Future Open Interest JumpsIGL
● The stock has undergone a consolidation phase, formed an Ascending Triangle pattern.
● Following a breakout, it surged to an all-time high near ₹570 before experiencing a decline.
● Currently, a Rounding Top pattern has emerged, and after a gap down, the price is testing its trendline support.
● Importantly, there has been a notable increase in future open interest of about 25%, indicating that investors are eager to purchase at more favorable price levels.
MGL
● After encountering resistance around the ₹1550 level, the stock price dropped to ₹1200.
● From this support level, it made a strong recovery, breaking through resistance to achieve an all-time high close to ₹1990.
● However, selling pressure has led to a pullback to the previous breakout level.
● Like IGL, MGL has also experienced a significant rise in future open interest of approximately 16%.
● This trend suggests that investors are interested in accumulating shares at a lower price.
BANK NIFTY INTRADAY LEVELS FOR 21/10/2024BUY ABOVE - 52220
SL - 51990
TARGETS - 52400,52600,52800
SELL BELOW - 51990
SL - 52220
TARGETS - 51820,51600,51380
NO TRADE ZONE - 51990 to 52220
Previous Day High - 52220
Previous Day Low - 51160
Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day.
Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move.
Please NOTE: this levels are for intraday trading only.
Disclaimer - All information on this page is for educational purposes only,
we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made.
Request your support and engagement by liking and commenting & follow to provide encouragement
HAPPY TRADING 👍
NIFTY INTRADAY LEVELS FOR 21/10/2024BUY ABOVE - 24890
SL - 24800
TARGETS - 24950,25020,25100
SELL BELOW - 24800
SL - 24890
TARGETS - 24700,24600,24530
NO TRADE ZONE - 24800 to 24890
Previous Day High - 24890
Previous Day Low - 24600
Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day.
Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move.
Please NOTE: this levels are for intraday trading only.
Disclaimer - All information on this page is for educational purposes only,
we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made.
Request your support and engagement by liking and commenting & follow to provide encouragement
HAPPY TRADING 👍
NIFTY50: INSTITUTIONAL LEVELS FOR 21/10/2024QUICK GUIDE
- Use 5 minute timeframe
- Try to take enters at retest
- Use multiple confirmation
- Read full description before investing
- Try to take ATM options or above
Explanation:
This is a very useful trading system. This means that you should not take a trade blindly, but rather that there is another confirmation to take the trade you can use this for perfect entry and perfect exit
This trading opportunity is based on volume, previous price, and price range , are included
Entry/Exit point's:
- It has very easy entry and exit points
- In this pair of lines with two colors are given (RED AND BLUE)
- In this the blue line is used to take long entry and the red line is used to take short entry (But it is all based on a more conformation from your trading plan)
Stop Loss/Take Profit:
Stop Loss
- According to this, if you take a long trade, its stop loss will be the red line just below ( A trade can exit either when the price crosses the red line or the 5 minute candlestick crosses the red line. (This can be done according to your preference) )
- A short entry should use the opposite rules to a long entry
Take Profit
-When you take a long entry according to the profit to be booked is on the next red line above. ( Or if there are other reasons, it can be a safe exit )
- Opposite rules for booking profit on long entry are to book profit on short trade. ( The blue line above is the stop loss of short entry )
Timeframe:
According to this, the time frame you should use while taking trades is 5 minutes time frames . (5 minute time frame works well in this)
Risk Disclaimer:
Trading carries significant risk and is not suitable for all traders. You may lose some or all of your capital in a matter of minutes or hours. Market conditions can change rapidly, and prices can move against you quickly. You may not always be able to exit at a favorable price, and you may be required to hold a position overnight, exposing yourself to additional risk. Day trading involves high risk, high leverage, and high stakes, and you should only trade with funds you can afford to lose. Please carefully consider your financial situation, risk tolerance, and trading objectives before engaging in day trading.
Engagement:
Share your insights, ask questions, and learn from others in the community. Whether you're a seasoned pro or just starting out, we're all in this together.
What's your take on the current market conditions? Which trading strategies are working for you? Let's discuss and help each other grow as traders!
Comment below and let's get the conversation started!
Original Content:
This trading setup is the result of my own innovation and expertise, and is not based on any publicly available information or third-party systems. It is a reflection of my dedication to developing a competitive edge in the markets.
BANKNIFTY: INSTITUTIONAL LEVELS FOR 21/10/2024QUICK GUIDE
- Use 5 minute timeframe
- Try to take enters at retest
- Use multiple confirmation
- Read full description before investing
- Try to take ATM options or above
Explanation:
This is a very useful trading system. This means that you should not take a trade blindly, but rather that there is another confirmation to take the trade you can use this for perfect entry and perfect exit
This trading opportunity is based on volume, previous price, and price range , are included
Entry/Exit point's:
- It has very easy entry and exit points
- In this pair of lines with two colors are given (RED AND BLUE)
- In this the blue line is used to take long entry and the red line is used to take short entry (But it is all based on a more conformation from your trading plan)
Stop Loss/Take Profit:
Stop Loss
- According to this, if you take a long trade, its stop loss will be the red line just below ( A trade can exit either when the price crosses the red line or the 5 minute candlestick crosses the red line. (This can be done according to your preference) )
- A short entry should use the opposite rules to a long entry
Take Profit
-When you take a long entry according to the profit to be booked is on the next red line above. ( Or if there are other reasons, it can be a safe exit )
- Opposite rules for booking profit on long entry are to book profit on short trade. ( The blue line above is the stop loss of short entry )
Timeframe:
According to this, the time frame you should use while taking trades is 5 minutes time frames . (5 minute time frame works well in this)
Risk Disclaimer:
Trading carries significant risk and is not suitable for all traders. You may lose some or all of your capital in a matter of minutes or hours. Market conditions can change rapidly, and prices can move against you quickly. You may not always be able to exit at a favorable price, and you may be required to hold a position overnight, exposing yourself to additional risk. Day trading involves high risk, high leverage, and high stakes, and you should only trade with funds you can afford to lose. Please carefully consider your financial situation, risk tolerance, and trading objectives before engaging in day trading.
Engagement:
Share your insights, ask questions, and learn from others in the community. Whether you're a seasoned pro or just starting out, we're all in this together.
What's your take on the current market conditions? Which trading strategies are working for you? Let's discuss and help each other grow as traders!
Comment below and let's get the conversation started!
Original Content:
This trading setup is the result of my own innovation and expertise, and is not based on any publicly available information or third-party systems. It is a reflection of my dedication to developing a competitive edge in the markets.
24.10.21 Whale Indicator - Start of altcoin?Bitcoin Dominance (D.BTC) - 4H
Bitcoin Dominance (D.BTC) recently closed below the orange whale indicator on a four-hour and daily basis
We have to wait and see the current flow, but if a few more candles come out, I think we can see a clearer direction
If Bitcoin Dominance continues to show a downward trend, we can expect more active movement in the altcoin market than in Bitcoin
Continuous monitoring will be needed for more detailed analysis, but strategic preparations for altcoins will likely be needed
However, if Bitcoin Dominance rises above the orange whale indicator again, the current downside view could be nullified
In this case, it is necessary to recheck the new direction after checking additional candles
Now is the time to closely monitor the short-term flow and modify the strategy according to the indicators
xauusd 4hr chartA head and shoulders pattern has formed on the 4-hour chart, and it has broken out. So, I executed the trade based on the breakout retest. Let’s see what happens.
18th Oct 2024 - Sensex will replace BankNifty for Algo strategyBankNifty Stance Neutral ➡️
In last week's report, I did mention that we would be forced to exit the bearish position if we get a close above 51713. The fact is that we went above these levels by 15th October itself i.e. day 2 of this week. On Thursday, we melted and then on Friday, we saw the short covering that propelled us to close at 52138.
The short covering could entirely be because of HDFC and KOTAK bank quarterly results and the short-sellers would have panicked. I would like to inform you that the results are in-line and no major surprises. If the Bears are trying to get back into the game, they may do so in the opening hours of Monday 21st. To change my stance to bearish, we would need to close below 51713 now.
Meanwhile, I was backtesting and analyzing SENSEX in the hope that it could replace BankNifty for my intraday Algos. After 4 days, of analysis I have the following observations.
Margin requirements for Sensex are much better than BankNifty.
Exchange charges are much lower for Sensex. BSE will benefit a lot more as more traders will dump NSE.
The reward to risk ratio is better for Sensex than BankNifty.
The liquidity is lower and Bid/Ask spread is higher for Sensex than BN, I hope this will normalize once BN weeklies come to an end.
I strongly believe my algos could run on Sensex from December month onwards.
18th Oct 2024 - Continuing the bearish stance on Nifty50Nifty Stance Bearish ️⬇️
We went short and Nifty is down 114pts ~ 0.46% in the last week. Even after the crazy price action on the 18th wherein N50 rallied 315pts ~ 1.28% from a new swing low of 24567, N50 is still in the RED territory .
50 and 200 EMA are still diverging showing signs of the bears starting to emerge. But this is not entirely confirmed, the quarterly results season is in play and we could see a pullback or fake bounce any moment. The other issue in our market is that the short covering forces the Bears to run when we pull up, fueling more bullish moves and new ATHs.
My stop loss would be 25080 above which I would exit the short position. On the daily TF we have a perfect Head and Shoulders pattern that could materialize over the next 1 month. I hope the bears will remain steadfast till then and not run away.
PARADEEP - Range Breakout
PARADEEP - Range Breakout
4-Month Range:
The stock was trading within a clear range for approximately 4 months, between ₹76 (support) and ₹95 (major resistance).
During this period, the price was consolidating, indicating indecision or accumulation by market participants. The price tested both the upper and lower boundaries of the range several times, but never made a decisive breakout until recently.
Minor Resistance:
There was a minor resistance around ₹88, which the price had difficulty breaching during the consolidation phase.
This level also acted as a support level during the later stages of the range-bound movement, holding up the price when tested.
Major Resistance and Breakout:
The stock encountered major resistance around ₹95 multiple times but was unable to break through decisively until recently.
After consolidating for a while near this level, the price finally broke out above ₹95, signaling a shift in momentum from consolidation to a potential new uptrend.
The breakout was accompanied by increased volume, which adds further validity to the breakout, as higher volume confirms stronger market participation.
Post-Breakout Action:
The price spent some time just below the major resistance (around ₹92) before the final breakout, indicating the market was gaining strength.
After the breakout, the price has shown a strong move, confirming a successful breakout and marking the start of a potential bullish run.
Targets:
Target 1: ₹100 – This is a psychological resistance level where traders might start booking some profits.
Target 2: ₹107 – A higher resistance level based on prior price action, suggesting the next potential price target if the stock continues its upward trajectory.
Stop Loss:
Stop Loss: ₹88 – Placing the stop loss just below the minor resistance/support level is a conservative way to manage risk. If the price drops below ₹88, it might signal that the breakout is failing, and the stock could return to the consolidation zone.
Volume and Momentum:
The breakout is supported by an increase in volume, as seen by the volume bars rising during the breakout, which confirms strong buying interest.
The RSI (Relative Strength Index) is currently at 64, which indicates that the stock is in a bullish zone but not yet overbought, giving further room for upward movement before it faces any potential selling pressure.
AKSH OPTIFIBREBuy with sl 7.50 cmp 11.16 TARGET 16+ & HOLD it. Buy & forget it with SL for long term. May be 3x to 5x return possible.
Inv head an shoulder indigo paints After downtrend and long consolidation
there is inv head and shoulder appearing on chart.
This being monthly chart target may take 6=8 months.
Target and SL on chart.
CrudeOil MCX Future Intraday Technical Analysis for 21st October🚀 Unlock the potential with my #CrudeOil MCX Future Intraday Technical Analysis for 21st October, 2024!
📍 Range Trigger Point: 5855
📅 Day Range: 212
📈 Long Position
🔹 Buy Above: 5903
📊 Average Position: 5878
🎯 Target 1: 5986
🎯 Target 2: 6067
⛔ Stoploss: 5832
📉 Short Position
🔹 Sell Below: 5853
🎯 Target 1: 5724
🎯 Target 2: 5643
⛔ Stoploss: 5924
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#CrudeOil #MCX #TradingSignals #MCXLevels #TradingTips #CrudeOilLevels
Bank Nifty Spot Intraday Technical Analysis for 21st October🚀 Unlock the potential with my #BankNiftySpot Intraday Technical Analysis for 21st October, 2024!
📍 Range Trigger Point: 52094
📅 Day Range: 1199
📈 Long Position
🔹 Buy Above: 51742
📊 Average Position: 51600
🎯 Target 1: 52835
🎯 Target 2: 53293
⛔ Stoploss: 51342
📉 Short Position
🔹 Sell Below: 51459
🎯 Target 1: 51354
🎯 Target 2: 50896
⛔ Stoploss: 51858
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#BankNiftySpot #TradingSignals #BankNiftyFuture #MCX #MCXLevels #TradingTips #BankNiftySpotLevels
NiftySpot Intraday Technical Analysis for 21st October🚀 Unlock the potential with my #NiftySpot Intraday Technical Analysis for 21st October, 2024!
📍 Range Trigger Point: 24854
📅 Day Range: 319
📈 Long Position
🔹 Buy Above: 24765
📊 Average Position: 24727
🎯 Target 1: 25051
🎯 Target 2: 25173
⛔ Stoploss: 24658
📉 Short Position
🔹 Sell Below: 24689
🎯 Target 1: 24657
🎯 Target 2: 24536
⛔ Stoploss: 24796
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#NiftySpot #TradingSignals #NiftyFuture #MCX #MCXLevels #TradingTips #NiftySpotLevels
AUDUSD R:R 1:4Liquidity Sweep and CHoCH
Imbalance with FVG
Its tapped the Previous Unmitigated supply.
Its already created the EQL and TL Liquidity.
Once entered the Entry zone go with confirmation Entry with CHOCH.
