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Doji

NIFTY makes new low! Correction ahead?Nifty - Technical Analysis: -Nifty was down 193.60 points or 1.68% at 11333.90. -Price below the trendline and made a new low after previous Monday. -Nifty could not revive the gap-down and closed low forming a doji. Resistance level at 11450. Further selloff to 11250 exptected. Market - Driving Factors: -All the sectoral indices ended lower with metal index down 3 percent followed by the pharma, bank, infra and energy -Axis Bank, Tata Steel, JSW Steel, Adani Ports and SBI were among major losers on the Nifty, while gainers were Maruti Suzuki and Zee Entertainment. -The rupee is likely to appreciate further, versus the US dollar, towards 72.80 and 72.40 levels, after the RBI’s indication that rupee appreciation could reduce imported inflation in India. -Today's selloff came after NASDAW plunging 5% and major US tech companies correcting. Nifty - Outlook for Monday, 7th September: NIFTY making a new low is a bearish sign. Doji formed in daily chart indicating indecision in market, indecision after rally often leads to corrections.If Nasdaq recovers we could see some positive indication else further selloff expected.
NSE:NIFTYShort
by Algokart
2
Trend line support and DragonFly DojiStrong trendline support Each time it came near trendline it took to support, formed a Dragonfly Doji candle, and then reversal happened. Points to consider 1. Strong trendline support 2. Dragonfly Doji 3. 50 SMA support 4. Price rejection near the trendline. 5. Limited risk Buy Above sustaining of previous day high. Target 1455/1480 Wait for the confirmation, use TSL, and wait for the targets. (Only an Educational view)
NSE:COLPALLong
by nikhilvenkataraviteja
1
Abbott India - Fibonacci ReversalNSE:ABBOTINDIA has retraced 61.8% of its rally. The stock gave a #Doji reversal confirmation 2 sessions back and moved to confirm the reversal of the downtrend. Currently the stock has moved up to its resistance level and and same can be seen from falling bullish volume. Tomorrow will be important to watch to see if it breaks the resistance or not? We expect the stock to move a little lower (retrace about 50% of the current reversal move) and then increase to move towards 18000 levels. (As shown by arrows). There’s however more upside according to RSI and Relative Strength Analysis.
NSE:ABBOTINDIALong
by impact_money
What will the end result of this week be for BSV?Everyone draws their support and resistence lines differently, this is my channel of support and resistence. As long as multiple buttoms and tops touch the channel, it's as good as anybody elses guess. What's important is to look at where this price is compared to the previous weeks candle. The fibonacci I drew is from the Low to High of last week. So these fibo numbers are only for previous weeks price action. And It seems the price has hit 618 and 5. It seems that the price will retrace upwards by the end of the week. Or the price might stay here, or it might drop to the near low of previous weeks open. So our options then: All involve waiting. Doji option We wait for the near end of the week, creating a doji/hammer. we then sell 25% of our previous buy. at 195$ we are looking for a reversal. Wait for a reversal down, unless it explodes past 200, which is a good thing because then we can take out profits and sell 25% of all bsv holdings. We then formulate a new plan. Consolidation Option We wait and see what it does at 170 range and formulate a new plan. Maybe keep this exact same plan. Down to 150 range Option We wait and see if it goes back down to 150 range area to purchase in some new 25%-50% of funds left to from previous sale. Cheers everyone. Stay safe out there.
B
by JacobTrader100
AXISBANK - doji inside an unbroken inside bar - high R/RIn continuation of my earlier view on Axis Bank , the inside bar didn't gave any breakout and formed a perfect doji doji inside an inside bar signifies indecision and congestion. its like a compresses spring going to be unleashed. A possible way to make the most out of it would be in equity or futures buy above 441 sell below 419 In options buy a 410 PE and 450 CE you can put the stop-losses as per your risk appetite and book profits as per your convenience earlier idea a day before, today doji was formed Thanks Happy Trading
NSE:AXISBANK
by msk_analysis
ONGC Doji - Price Action between Fib Retracement LevelsONGC has set up a value area last week between the 0.786 and 0.618 Fib Retracement levels with a value price of 84. The stock made a doji inside the lower part of the value area on Friday which was in line with overall NIFTY movement. Positional Ideas: Go Long above 84 for 86 Short below 80.5 for 78, 77, 76 Scalp between 81 and 84 levels Don't take positional trades In-case of gap openings. Check the price trend and NIFTY trend - follow ORB
NSE:ONGC
by raj_rishav
MGL Inside Bar BreakoutMGL has formed a large body candle the previous day followed by a small range DOJI candle on daily timeframe. The price is moving along a rising trend line & price is currently at the trend line. The next candle may give a fine move on any side, either respecting the trend line and breaking above or breaking it below. Long above 1014 Short below 991 Fixed target: 1% (or the nearest S/R) NOTE: Trade with confirmation of momentum & volume on lower timeframes in intraday.
NSE:MGL
by tradepurge