CNXFINANCE-Nifty Financial Services - Long -Cup and Handle DailyCNXFINANCE
Technical analysis of the Nifty Financial Services Index (CNXFINANCE) on a daily time frame, using candlesticks to show price movement.
Here’s a breakdown of the key elements:
Cup and Handle Pattern: The chart highlight a "cup and handle" formation, which is a bullish continuation pattern. The cup is seen as the rounded bottom part of the formation, followed by a small handle that tends to consolidate before a breakout.
Breakout Level: The breakout point is marked at 23,917.55, and the price has successfully broken above this level, now trading around 24,326.90, suggesting bullish momentum.
Target Levels:
The first target appears to be 25,329.60, as per the measured move from the height of the cup.
The calculation shows a 6.27% increase from the breakout level, projecting this target.
Support Levels:
Price Action: The candlestick shows a strong bullish move, and the index is testing higher levels, suggesting that the momentum could take it towards the 25,329.60 target.
in.tradingview.com
SCRIPTS
AU SMALL FINANCE BANK
AXIS BANK
BAJAJ FINANCE
BAJAJ FINSERV
CHOLAMANDALAM INVEST
HDFC AMC
HDFC BANK
HDFC LIFE INSURANCE
ICICI BANK
ICICI LOMBARD GENERAL INSURANCE
ICICI PRUDENTIAL LIFE INSURANCE
INDIAN ENERGY EXCHANGE
KOTAK MAHINDRA BANK
LIC HOUSING
MUTHOOT FINANCE
POWER FINANCE CORPORATION
REC
SBI
SBI CARDS
SBI LIFE INSURANCE
CNXFINANCE
CNX FINANCE TECHNICAL SETUP - The Finance Index is currently trading in a range
- IMO I think we can break down and see a breakaway all through the downside
- It's going to be important to notice what the price exactly does
- I have drawn two paths let's see which one plays out, I am bearish already for long-term Investments.
- I would prefer sitting cash for the next two quarters before I pool in money for my long term Investments
Finnifty - Intraday levels & Prediction - for 19 Dec 2023Finnifty Prediction for tomorrow.
Gap up Open then BEARISH Reversal from 21482-21500
Bullish only above PDH / 21560
Demand and Supply Zones - When price breaks the zone, Demand zone will become Resistance and Supply zone will become Support.
Refer the chart for detailed Intraday Support and Resistance levels.
Happy Trading!!
BANK-NIFTY SUPER EXPIRE TRADE BY BULL👑👑Royal Trade👑
BANK NIFTY IMPORTANT LEVEL
WE BUY CALL AND TARGET LEVEL IN VIDEO
45869 // 45788 // 45734 // 45613 // 45558 // 45488 // 45292 // 45158 // 44901 // 44796 // 55561 // 44410
This is only level we upload new idea in morning 9.30
Buy when Market Break
The support or Resistance
and wait for the closing and
set stop loss at the
last opening of the candle.
NOTE
#We Are Not Promote Anything
#This channel Purpose to share market ideas.
Thanks for Watching🙏
How To Trade In Option's By Big Bulls🤑💸✔✔💲🙏#HDFCBANK #BANKNIFTY #NIFTY50 #NIFTY #SENSEX #TATA
Intraday trading involves buying and selling options within the same trading day, rather than holding them for an extended period. By adopting this approach, traders can make profits by capitalizing on the short-term price movements of the underlying asset.22-Apr-2023
Is option buying good for intraday?
Trading intraday options can be a great way to benefit from short-term market fluctuations and make quick money. Before you dive headfirst into the fast-paced world of intraday options, it's important to have a sound strategy with an understanding of risks and rewards.
The long black candlestick is 'the mother' and the small candlestick is 'the baby'. The smaller the second candlestick, the stronger is the reversal signal. The shadows of the second candlestick do not have to be contained within the first candle's body.
Which candle is best for option trading?
Here are the top 5 candlestick patterns that traders must know:
Doji. The Doji pattern is formed when the Open Price and Close Prices are the same or almost the same, and there is Low and High Price, so the candle has nearly nobody with a lower and upper wick. ...
Hanging Man. ...
Hammer. ...
Morning Star and Evening Star.
Technical analysis and options trading can go hand in hand. Many of the best practices for options trading come directly from technical analysis concepts. Technical analysis focuses on price. Fundamental analysis does not solely focus on price.
RBI Forex Reserve Grow is this Good or Bad ?
1st 140 Billion loss hua hai or ab 20 Billion Grow hua hai to hai to abi bhi loss mai
Gover..t abi losss mai hai
#FINNIFTY 100% Perfect Intraday Trade🤑#We Make Only Profit.
#HDFCBANK #BANKNIFTY #NIFTY50 #NIFTY #SENSEX #TATA
Intraday trading involves buying and selling options within the same trading day, rather than holding them for an extended period. By adopting this approach, traders can make profits by capitalizing on the short-term price movements of the underlying asset.22-Apr-2023
Is option buying good for intraday?
Trading intraday options can be a great way to benefit from short-term market fluctuations and make quick money. Before you dive headfirst into the fast-paced world of intraday options, it's important to have a sound strategy with an understanding of risks and rewards.
The long black candlestick is 'the mother' and the small candlestick is 'the baby'. The smaller the second candlestick, the stronger is the reversal signal. The shadows of the second candlestick do not have to be contained within the first candle's body.
Which candle is best for option trading?
Here are the top 5 candlestick patterns that traders must know:
Doji. The Doji pattern is formed when the Open Price and Close Prices are the same or almost the same, and there is Low and High Price, so the candle has nearly nobody with a lower and upper wick. ...
Hanging Man. ...
Hammer. ...
Morning Star and Evening Star.
Technical analysis and options trading can go hand in hand. Many of the best practices for options trading come directly from technical analysis concepts. Technical analysis focuses on price. Fundamental analysis does not solely focus on price.
RBI Forex Reserve Grow is this Good or Bad ?
1st 140 Billion loss hua hai or ab 20 Billion Grow hua hai to hai to abi bhi loss mai
Gover..t abi losss mai hai
#FINNIFTY #NIFTY 100% Perfect Trade💰🤑#We Make Only Profit.
#HDFCBANK #BANKNIFTY #NIFTY50 #NIFTY #SENSEX #TATA
Technical analysis and options trading can go hand in hand. Many of the best practices for options trading come directly from technical analysis concepts. Technical analysis focuses on price. Fundamental analysis does not solely focus on price.
RBI Forex Reserve Grow is this Good or Bad ?
1st 140 Billion loss hua hai or ab 20 Billion Grow hua hai to hai to abi bhi loss mai
Gover..t abi losss mai hai
CNX FINANCE chart studyCnx finance index cmp 19250
Elliot wave study
120 mins time frame
Impulse phase as per elliott wave is matured and corrective phase have started.
ascending parallel channel structure is broken and retest done, indicate some more retracement possible.
on daily time frame RSI have given breakdown below trend line support.
So now the index is sell on rise till the recent high is not taken out and sustained.
down side index can give good retracement below the low point of wave4.
Stocks of financial services might face selling pressure.
Time to be cautious...
#CNXFINANCE #Finifty - expiry viewFinnifty is trading below budget day low and is going to face resistance around it, however on 45 min tf the structure which is currently developing is suggesting that it may be forming a reversal pattern and anticipation is that inverted H&S pattern is under development. As long as recent swing low is protected it can take support at the trendline which is coming from lower side as support and has already given a falling counter trendline resistance breakout on Friday closing.
As the price gets more and more congested into this zone, possibility of inverted h&s formation and upside breakout may be on higher side.
Overall, the setup is looking good to play some directional buying by Tuesday expiry if it gets matured by that time, keep this setup in watchlist for some expiry special :)
Consolidation about to breakout in FinNifty. Consolidation about to breakout in FinNifty.
Important Levels
---- 18450-18550 is a good supply zone (also to be considered as No Trading Zone). Might see a run till 18800 if breaks out and sustains above 18550.
---- 200EMA above current price on 1H timeframe
---- Long run can be captured if breakout happens at all above levels with good volume.
HDFC at all time high.HDFC has given a breakout above its previous life time high which was tested three times and now it is trading succesfully above it, volume was above average during the breakout.Now it is a good time to enter long with a stop loss.
Other indicators:-
Momentum= RSI is in bullish zone i.e. above 60 on monthly, daily and weekly timeframe.
Trend= ADX's value is above 25 shows strong trend.
Relative Strength= HDFC is out performing both NIFTY50 and Financial Services Index.
Entry= above 2950
Stoploss= 2700
Target=3400