Hi guys, whats' up ? Hope you're having good trading lately.
So, here I am to draw your attention towards BankNifty which is making all-time record highs.
If you study the chart, you'll find it's the 5th time we have reached this level, since when we first reached here in Jan 2015.
And this time, we got a big gap up and a red candle down.
I have drawn...
Here, is a potential short setup .
I'll go short on PNB tomorrow , only below 145 , if it stays above it, no trade entry.
If it's below at 144, I'll go short :
A part for intraday,
where I'll keep 1 point stoploss
and target according to movement.
And the other part for positional,
where stoploss would be 151 ( 7 points ) and
target 132 ( 14 points )...
Here's a potential long setup .
CMP - 513.55
Buy close to 509, whatever market gives.
SL - 505 ( 4 Rs )
Target 1 - 518
Target 2 - 531
This is according to a strategy I learnt in an expensive professional course. Let's see.
Here, i have identified a potential long setup in JetAirways.
It's a short-term positional trade.
CMP - 378
Date - 6 Feb 2016
I have written notes on chart to help you trade.
Will be updating you.
NIFTY is most popular as we know.
These are the lines that hold importance for another 2 days of the week.
Follow them and make trades on the line. Always keep a bit of room for a short overextension through the line.
Retest is a stronger signal than break. Have more confidence on that.
Glad to help.
I hope you like it.
NSE:LT is in a downtrend as you can see.
It has given a breakout out of the lines which might just fail.
Short positions can be entered with the pink line as stoploss and blue line below as target.
NSE:CIPLA is at an important support tracing back to 2014.
It's currently trying to overcome it and has a positive market structure with good trend strength.
As you can see it is having 2 rising wedges forming, a smaller one inside the bigger one .
Indicating a very good sign of bullishness.
One should expect upside and look for long trade opportunities.
NSE:COALINDIA is heading towards 3rd touch of the trendline.
A strong bullish bar with good volumes and also rejection wicks of recent bearish bars; accompanied by 50 DMA signal a probable upmove after consolidation of the prior strong upmove.
Exit below 310.
Target 320-325 according to line.