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Confluences

"AVIATOR PATTERN" FORMATION IN BANK NIFTY CHART ANALYSISAnalysis for 4th March'24 Strong bullish recovery last week from 46200 to 47200 confirms the "aviator pattern" or "W" formation also looks like instutional are actively bullish. Also BN has broke strong 2 month daily resistance & lastly closed just above that resistance which gives a indication of bullish dominance. Thus this resistance becomes "strong point of confluence" ( check on chart) can also act as strong support or resistance in future. Still wait for opening print for 15-30 mins to decide the direction flow of bank nifty, gap up opening may give bulls to move fast or if gap down below 47200 may lead to bearish trend or sideways as BN trading on make or break area. Resistance : 47700, 48000 Support : 46700, 46200
NSE:BANKNIFTY
by Price_actiontaker14
SAIL - Potential Reversal with excellent Risk Reward BUY GUIDANCE: Never buy before 3PM (for positional trading). I have been burnt many times over. Try to buy between 3:15 - 3:30PM, later the better. SL: Depending on your risk appetite: Below Weekly BO Candle / Below Daily BO Candle / 50% of Weekly BO candle / Below 20DMA TGT: After a 10-15%+ vertical move, breakdown of 20DMA (on a daily close basis) SELL GUIDANCE: Selling in Profit: Sell earlier in the session when the prices are higher, around 11AM. Selling at SL: Give your stock a chance to recover by end of session. If it doesn't recover, sell anywhere between 3:00 - 3:30PM. Note: The breakout levels are derived from the weekly line chart which is respected much more by smart money. DISCLAIMER: I reserve the right to be wrong. I am not a SEBI registered analyst. Please consult your financial advisor before investing.
NSE:SAILLong
by raavigeorgian
6
LONG in INFOSYS on NSE (INDIA)This is weekly chart of INFOSYS on NSE (INDIA) with CMP @ 663.70. It seems to be an excellent opportunity for a long positional trade based on following observations: 1. A horizonal line on chart acted as stiff resistance during 18th April 2016 to 6th June 2016, has now turned into support as shown on the chart. 2. Support line as mentioned in the preceding point also coincides with; (a). 61.8% retracement level on Fibo (against rise in price from 9th April 2018 to 1st Oct 2018) and (b). 38.2% retracement level on Fibo (against rise in price from 11th Sep 2017 to 1st Oct 2018. 3. Trendline drawn on the chart also indicates supports & reversal. 4. RSI has good support near value 40 as observed on the chart but it is witnessed that during recent correction, RSI has not even tested 40 which implies that momentum is still intact. Above deliberation indicate that reversal has been from confluences of supports and hence its reliability seems to be quite high. Hence, stop can be exercised at 628 (below swing low) and ride the forthcoming trend. Happy trading...
NSE:INFYLong
by DEVERAMA
LONG in HAVELLS on NSE (INDIA)The analysis is based on weekly chart. It looks that enough consolidation has taken place in Havells and scrip is all set to move up. In support of this view, following supportive evidences on chart have been observed: 1. In last three weeks, bears tried hard to push the price lower but it has recovered sharply forming pin bars. It is also observed that price has taken decisive support near 550 zone which had acted as resistance during JAN 2018 to JULY 2018 until it broke out on 23rd July 2018 with gap up. 2. Trend line drawn on the chart also indicates supports at multiple locations (Nov 2016, Dec 2016, Feb 2018, March 2018 and now in Oct 2018. 3. Strong support (last three week's PIN BARS) also coincide with key retracement Fib level (78.6%) of the previous rise in price during JAN 2018 to AUG 2018. 4. There is no divergence observed in price & momentum on RSI. 5. RSI has gone past 40 in daily time frame which accompanies with decisive bull candle with good volume after gap down opening on 19th Oct 2018 especially in exceptionally bear market overall on 19th Oct 2018 overall. In view of above observation, it looks that Havells might move up to achieve its previous high (726) and on breakout of this previous high may make a new top. Therefore, two targets have been arrived as shown on the chart : (a). Target -1 : 726 (Previous high) (b). Target-2 : 986 ( 1.27% on Fib extension of previous bull run/rise) (c) Stop can be exercised at 547 (below PIN BARS of previous three weeks) Happy Trading !!!
NSE:HAVELLSLong
by DEVERAMA
1