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BNF profit booking!***Disclaimer-- please trade at your own risk** for educational purpose only*** 1. Looking weak on daily 2. narrow range expiry on 11th Feb 36000 - 35580, volatile! expected profit booking but support was strong 35550 zone 3. Expecting have some profit booking 34850 range, bnf breakdown 35600 and hold for 10-15 mins it should be a good shorting opportunity 4. Target T1 - 35350, T2 - 34950, T3 - 34850 (if it's a heavy profit booking) 5. RSI 1hr taking resistance @50, daily @72 could support @70 if sideways else 60 would be the next support (if heavy profit booking) 6. if its a positive day by any chance, T1 - 36000, T2 - 36330
NSE:BANKNIFTY
by embarrassedLoL
MOTHERSUMI technical analysis. Possible down move.Hello Trader, Here is the full analysis of MOTHERSUMI: 1) On the Daily chart we can see it as formed butterfly pattern and is inside raising wedge ( Bearish pattern ). 2) Price is testing a strong resistance zone and can test this zone for up move and if it fails then on the basis of butterfly and strong resistance one can look for short. How can you support me: 1) Like my idea. 2) Follow me for more analysis Feedback: Please share your feedback in comments and this will help me to improve my drawing and analysis
M
by technicalwhale
Tasty ChannelAs the broader market is choppy, it's a big challenge to find outperforming stocks in such market conditions but still, I have tried to get a strong stock to trade. Observations: -> Bullish Heikin ashi pattern -> RSI above 60 (Shows good strength) -> Bullish MACD with increasing divergence -> Healthy Channel ( Angle between 45*-30*) -> Volume Profile: I have marked High-value node zone Remark: -> Its a risky trade, Risk to reward will be more than 1.25 but still it's a risky trade.
NSE:TASTYBITELong
by abhishek_sh4
Nifty 50 near 38.20% Fibonacci Level 9400 = WAIT NEUTRAL If Nifty 50 NSE:NIFTY does not Break the 38.20% Monthly Fibonacci Level = 9400, What Next? Case 1: If Nifty stays Neutral and above 75mins 50EMA without retracing back to Monthly Support and Breaks the 38.20% in next few trading sessions = It is successful in making a Higher High Daily Swing more than 9390.85 of 20th April, indicating the continuation of Daily UpTrend. Assuming the above case is false, then Case 2: If Nifty goes back to Monthly Support = It failed to make a Higher High Daily Swing more than 9390.85 of 20th April, Forming a Daily Lower Higher, indicating the end of Daily UpTrend + It also broke the 75mins 50EMA indicating a 75mins Down Trend + It also made 2 Weekly Hanging Man Candle on 13th April and 20th April which is a Bearish Reversal Pattern. Assuming the above cases are false, then Case 3: If Nifty still Breaks the Monthly Support and goes below Low of 8909.40 of 21st April, Forming a Lower Low Swing in addition to a Higher Low = It's a confirmation of Daily Down Trend + Price is also below the 75mins 50EMA indicating a 75mins Down Trend. Assuming the Case 3 is true, then Case 4: Continuing the Daily Down Trend, if Nifty makes a Lower Low than 7511.10 of 24th March, Then it's a Weekly Down Trend Confirmation as Weekly already made a Lower High of 9390.85 of 20th April compared to 12246.70 of 14th Feb. If Nifty does Break the 38.20% Monthly Fibonacci Level = 9400, What Next? The 38.20% Fibonacci Level of 9400 should become support from resistance for the Daily Up Trend to continue. Price should take support at Daily Trend Line and not make a Swing Low Lower than 8909.40 of 21st April, indicating the continuation of Daily Up Trend. Price may test Weekly Resistance level at 9711 Price may test Daily 50 EMA Resistance 2nd Weekly Resistance at 10130 Key Level to test 50.00% (9950) to 61.80% (10550) High probability of a pullback ending in this level and retracing back continuing the Downtrends. Stay cautious in these levels.
NSE:NIFTY
by ashishd1
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