Today’s closing of BankniftyNSE:BANKNIFTY has been just below the resistance at around 26150 levels.
Staying above this level might lead to further uptrend.
A break below 26000 may trigger a massive downfall.
However, the rally has been going on for more than a month now and Private banks like Kotak and IndusInd have started showing signs of ...
Stock has corrected from its highs. Resting at the support level. Has been picked up thrice from here. RSI already oversold and in the past eichermot has not maintained the oversold zone for long time. Todays candle has formed a doji and looks like a possible pullback on cards.
Buy at 26500 for a positional target of 28200 Stoploss shall be maintained at 25500 on ...
don't go with initial breakout, wait for EOD to make any positions, most false signals come at such setups
I am long but, not holding anything, good for day long can be made
if Nifty sustains now..... BOOOOMMMMMM
big movement surely expected
As per Fibonacci, Nifty lying on 61.8% important turning point and having Doji pattern.
Which way the Nifty will travel ?
Either Doji will indicate the direction nor Fibo will get retracement ?
Level for Long - If Nifty on long side, it will travel upto 10080.
Level for Short - If Nifty on Short side, it will fall upto 9880.
In my previous post I suggested buying..perhaps the move started a bit earlier than expected but hit the target..see below >>>
https://in.tradingview.com/chart/CONCOR/GERgtdaV-CONCOR-Play-The-Channel/
When I look at the current chart and ask myself, what could be the ideal place to enter ?
Is it on the next bar break above the Doji candle made in the last hour ...
Today market opened with a gap and faced resistance at 10048 but showed strength and held the first 15 min. low. It then broke out of the resistance, made a new high of 10061, retraced and gave a false beak out of the day's high. After that a tweezer top can be seen along with a bearish pattern which looked like a top for today. But market gave a false breakdown ...
Bearish Bat at 2500. If TCS goes below 2490 - I shall be looking for target 2465-below 2465 for 2430 -below 2425 for 2400 & below 2400 -can be 2345.
Stoploss above 2516 ( 1 point above X- level)- In first place once it dips below 2490 - it should not bounce above 2500 which will early signal to be cautious in the trade else we enjoy 2465- 2430.
Candlestick ...
The stock has formed a Doji Star on 09.03 and Buy signal was confirmed on next day as price traded above the high of it. Moreover it was at Crucial 50% of the last swing so one can go long at this level by providing a small stop loss. One can easily expect 2-3 times reward of the risk taken.
I would go long the stock because
a. it made a bullish Doji Star 2 days ago at significant 50% retracement level.
b. Primary trend of small swings being supported by the trendline.
c. Last Bar is giving opportunity to enter at cheaper price so Stop Loss is affordable.
One can go long providing suitable Stop Loss and expecting the target double the risk provided.
Doji candle formed at the supply zone suggests a short entry at this level. I would look for a short if it trades below 50.45 level tomorrow with stop loss of the high made in the recent bar. By risking this small Stop loss I would look to take profit 2.5 - 3 times of it. Happy trading!
It is been observed that the selling pressure is high due to which buyers are having hard time to pick up the prices. Previously the bearishness was confirmed by the formation of PINBAR Candlesticks pattern that indicates weakness and rejection of higher prices. Therefore it is a good time to short at current levels for target 1240 Stoploss 1351
