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Bajaj Finance Correction !Bajaj Finance Showing weakness on which There can be a correction coming out ! Points to analyse- 1. Bajaj Finance have a Double top Which indicates trend reversal or Correction. 2. Major Support / Roundoff Price / Fibonacci Comes at same levels with gives multiple confirmation of strong support ! 3. Also there is a little unfilled gap which can be filled this time if market corrects ! 4. Market is too up at this time after market averages - price have to come close to average to start new trend 5. There is a support nearby around 5330 If it breaks there are high probability that it can fall . 6. Even if we only follow Trendline after double top trend reversal indication the prices behaviour is to come near trendline ! That what i have analysed If you have any suggestion or queries please contact me freely on twitter or comments of this post ! Stay safe - Stay Healthy Namaste Comments Leave a comment that is helpful or encouraging. Let's master the markets together
NSE:BAJFINANCEShort
by harit123
4
View on NIFTY➡ Nifty took support from the demand zone ➡ "Bullish Harami" has formed above the support ➡ Right now Nifty at a correction phase ➡ Nifty needs to break the channel to go up ➡ Due to Covid situation Nifty showing some weakness ➡ Hence, Nifty may fall ⚪ NIfty needs to close above 14938 to go up further ⚪ 14281 is a strong support ⚪ If it closes below 14281 next support will be at 13760 🔴 DISCLAIMER : This is just for educational purpose....
NSE:NIFTY
by PriceAct-fugazitrader
11
NIFTY WEEKLY ANALYSISEven though there is heavy liquidity in the market and that has been driving the markets significantly higher over the last year. Nifty has rallied over 100% since the low of March 2020. A lot of investors have made way more than average returns on their investment in this dream run. Those investors would like to retrieve their amazing returns to make use of the profits (what is the point of making money if you can't use it, right?). FIIs have also been selling heavily in the last month on account of the heavy overvaluation in the Indian Markets. Yet, even accounting for the sell off, the market has not gone down significantly. There was fear of a lockdown in Maharashtra which triggered Monday's large sell off. This has offered investors a good lower level for buying into the market again. With large buying observed yesterday, it is very likely that the market is ready to move back towards the all time high levels. Technically as well, there is a flag and pole pattern observed on the weekly charts, which is a bullish pattern. A breakout above the top trendline will likely enable to market to make fresh all time highs above 15,400. The dip has offered a great entry point for building long term portfolios with a lot of stocks correcting more than 10%, especially the financials. ALthough FIIs have been selling, DIIs have been net buyers for the entire period where Nifty is declining. DII activity is a good indicator of the long term expectation of the market. The coming week may see a fresh uptrend emerge with companies announcing their FY 2020-21 earnings in April.
NSE:NIFTYLong
by ArcherDAVIS
Reliance - Ending Diagonal Finish (Sell Below 2100) • Safe Traders Sell Below 2050 – Target Downside – 2025 / below 2025 –Target -1980-1990/ Below 1980 Target- 1927 / Below 1925 Target – 1890-1900 / Below 1890 Target – 1830 / Once Double Bottom gets broken then stock may slip to 1650-1700 zone which I have suggested since Oct-Nov2020 • Risky Trader They can sell if stock holds below 2100 or as close as possible to 2100 • No Trading If stock crosses above 2100 – we will avoid taking sell or short trades.
NSE:RELIANCEShort
by WaveTalks
51
NIFTY 50 Analysis As shown on the chart, the double top pattern has occurred 3 times in the recent few months. Each time, the market has corrected significantly. The entire second week of February, Nifty has been moving in a tight 200 point range, with buying coming at 15000 levels and strong selling at 15,250 levels. With the current levels of volatility and narrow contracting range, I believe that the market will be looking at an expansion in the coming week/s. If the Nifty closes below the neckline (marked on the chart) this will complete the "M" pattern and will result in a downward expansion. Whereas, a closing above 15,250 will result in a continuation of the general bullish trend. Although, I am still bullish on the Indian Markets, there is a strong chance that a downward breakout may occur. Reasons: - The strongest sector in the recent weeks post budget, has been the financial and Infra sector. BankNifty is stuck in the middle of the range and Friday's morning rally, did not see much follow through on the upside either. - Large sectors like IT and Pharma have also seen a cool off and not seen much of a rally post budget either. - Market has created a large 200 point (1.4%) gap. Gaps create space for demand in the market. Giving due consideration to the heavy liquidity in the economy, the sentiment around the market seems to be fearful. Hence, I believe that investors are likely to book some profits and drive the market below 15,000. If the market does give a close below 15,000, it could move towards filling the gap. Since, the general trend remains bullish, it would not be wise to take huge short positions by putting more capital at risk. The short trade will only be viable as long as the NIFTY CLOSES BELOW 15,000 ON THE 1 HOUR time frame. The stop loss for the view the position will then be the current high point of 15,250. These are my personal views and I reserve the right to be wrong. Like and Follow if you found this helpful and would like more of such content. :)
NSE:NIFTYShort
by ArcherDAVIS
10
EW on NIFTY- Fall 1700 points or more? Where?How do you determine the end of the Throw-over(under)? The price is upper trendline & recent volume is declining which is an indication that the End of The wave will meet . But this chart has not volume data cause of spot nifty. You can check out volume changing into future nifty. Let's try to look closely sub-wave of Primary Rounded donated 1 W. The parallel channel is connected 1 & 3 upper bands and for lower band connection by 2 & 4 but, 5th traveled the price upper trendline which 5th Wave throw-over. Now for the Primary Rounded Cycle, the price is traveling the upper trendline. In this scenario, we can see the price has surged after the 4th of throw-under. End of this Throw-Over, we clearly assume that the correction will be huge or after little price rotation. This correction can be 1700-2500 points or more than it!
NSE:NIFTYShort
by Trade-Technique
33