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NSE PNB is Preparing for a Corrective BreakoutTimeframe: Daily NSE PNB is currently facing strong resistance at the 200 EMA on the daily timeframe. The price has completed a corrective W-X-Y formation on the daily chart, and the ATR has increased to 2.91. The stock has reached the final wave V of C of (Y) at 103.62 and has started moving upward. If this marks the end of the correction, the price needs to break and sustain above wave iv at 112 . Upon holding above this level, traders can aim for targets of 117 – 126 – 137+. Even if the price falls below wave (Y), traders can only buy after the breakout of 112. Stay tuned for further updates!
NSE:PNB
by Trade-Technique
4
How to Draw Support and Resistance Like a Pro! Support and Resistance are one of the most important aspects of technical analysis but often I see traders doing it wrongly. How to Draw Support and Resistance: Imagine you have a chart filled with SR like the one below. Do you know which levels to pay attention to? When you’re about to start, how to plot support and resistance lines? It’s filled with nothing but lines and it doesn’t seem to make much meaning of the chart at all. nah My approach to drawing Support and Resistance uses either 1 line or 2 lines. It is much cleaner and immediately tells you which area of the chart to pay attention to. I use a single line when price respect a level almost to the pip and i use 2 lines when price bounces off an area. I highlight only the key Support and Resistance of a chart meaning the obvious swing highs and lows. The intermediate SR i will not draw any lines so as to maintain my focus on the key areas. Besides, with enough screen time you can easily identify those intermediate Support and Resistance without any lines. real world… You must keep in mind of the R.S.M. formula. These three things stands for: Reaction Setup Management Now take notes because this is important… Reaction Here’s the truth: Drawing support and resistance lines aren’t the holy grail.
NSE:BANKNIFTYEducation
by EmpireCrown
Godrej Agrovet - Flag Pattern!!Godrej Agrovet has given a breakout of its 2018 price and has not retesting the same. It has created a flag pattern and a breakout of same can give a massive 65% return. Other factors: 1. 2018 price breakout and retesting - strong set-up 2. Flag pattern on DTF 3. Largest palm oil plantation in India with 75000 hectares and by 2027 to increase to 100k hectares 4. Recent custom duty increase on import of palm oil will benefit Godrej Agrovet 5. Contracts with Nestle & Pepsi for purchase of palm oil 6. Best TTM results Stock may consolidate and a breakout will take the price to our TPs. Keep following @cleaneasycharts as we provide Right Stock at Right Time at Right Price!! Cheers!!
NSE:GODREJAGROLong
by Cleaneasycharts
6
Nifty Intraday Analysis for 30th September 2024NSE:NIFTY Index closed near 26180 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 26500 Strike – 43.10 Lakh 26200 Strike – 42.25 Lakh 26300 Strike – 39.53 Lakh Put Writing 26000 Strike – 62.95 Lakh 26200 Strike – 38.46 Lakh 25500 Strike – 34.98 Lakh Index has resistance near 26250 – 26300 range and if index crosses and sustains above 26300 level then may reach near 26450 - 26500 range. Index has immediate support near 26000 – 25900 range and if this support is broken then index may tank near 25700 – 25600 range.
NSE:NIFTYLong
by RKMAURYA
EXIDEIND Support & Resistance #EXIDEIND Trend: Strong uptrend from January to June 2024, followed by a corrective phase. Currently consolidating with signs of a potential reversal. Chart Pattern: Double Bottom pattern with a breakout above ₹490, signaling a possible trend reversal. Candlestick: Strong bullish candle today (+5.42%) with no upper wick, indicating strong buying pressure. Price Action: Support found at 460. Breakout above ₹490 shows buyer strength and momentum. Volume: Significant volume spike (13.69M), confirming the breakout strength. Buy Entry: Consider buying around ₹490-500 for potential upside. Stop Loss: Set a stop loss below 460 (key support level). Target: Initial target around 540, with potential to reach *580-1600 if momentum continues.
NSE:EXIDEINDLong
by SkyTradingZone
BankNifty Spot Intraday Technical Analysis for 30th Sept.📊 Bank Nifty Spot Intraday Technical Chart Analysis for 30 Sept., 2024 Range Trigger Point: 53834 Day Range: 576 🔵 Buy Above: 54119 Average Position: 54051 Target 1: 54190 Target 2: 54410 Stoploss: 53927 🔴 Sell Below: 53983 Target 1: 53479 Target 2: 53259 Stoploss: 54175 ✨ Boost, follow, and engage for more detailed insights. Your support helps us bring you the latest and most accurate updates! 🚀❤️ #BankNifty #TradingSignals #BankNiftyFuture #MCX #MCXLevels #TradingTips #BankNiftyLevels
NSE:BANKNIFTY
by NumroTrader