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.
NSE:MRF has been trading in a range starting October and yet again reversed from highs.
If the supply zone stands good, it should go down to the previous swing low.
Otherwise, if it breaks the rectangle upside, we might see action on the long side.
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.
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.
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.
Here, in this chart,
you can see the zones important for banknifty in upcoming days.
Currently, is above the 50 DMA approaching previous resistance.
An upper trendline will halt the move if it trends upwards.
Continuing from the awesome prediction of nextgen sir ( see in related ideas ) ;
maruti suzuki has again faced resistance at that level with full down candle.
Short trade can be placed with the high of the candle + cushion as stoploss.