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ADANI PORTS - JOURNEY OF THE SINKING PORTGuys today we are going to discuss about Adani port initially I would would discuss how it was in a uptrend, there after I will show that how we could have identified that it will turn into a down Trend. (Please open this post in a Separate Tab. And using mouse click on the chart and move cursor to the left to see the remaining part of the chart) Adani port was in a uptrend starting from 2017 initially creating series of higher highs and Higher Lows. In this chart, the first two are the base low and base high. The Lows and High thereafter created are used to draw trend lines / channel which is being followed. The points of reversal have been highlighted along with corresponding pattern they are forming. The share followed a fixed channel for 11 Straight months. The details of Highs and Lows during these 11 months are as below: (refer chart as well) Higher Low 1 – No Specific Pattern here. Normal reversal was here. Since we now have 2 Lows (Base Low and Higher Low) these are used to create a trend line . Higher High 1 – The share was near its its historic resistance and created Hangman pattern (Reversal Pattern) and thereby reversed from here. Higher Low 2 – The Share was near its Lower Channel and created an Inside Bar Pattern which indicated reversal. The share moving up thereafter. Higher High 2 – The share was near Its upper channel and created a Doji (Confusion after a series of uptrend) near the resistance, which indicated Confusion after a series of uptrend. Traders were unsure whether the share will continue its upward trend or not and there share started reversing from here. Higher Low 3 – The shared touched the lower channel and the immediately next candle made a Doji / Hammer but it was formed below the Lower Channel. Doji / Hammer indicates weakness in the ongoing trend. So, though share was trading below lower channel, same could not be considered as a breakdown. Also, the share reversed post this. Higher High 3 – The share showed certain consolidation and confusion in the market. So no specific pattern formed here. Higher Low 4 – In the process to make next Low. The share breached Channel and the next 2-3 candles including one big red candle) was formed below the channel thereby confirming breakdown. The share thereafter created Hammer Pattern and reversed from here. Now although On First December it created a higher Low (which indicates uptrend) it gave a channel breakdown. Thereby giving hints of further breakdown. But Since we always follow multiple confirmations, we would not trade a simple breakdown and would require more surety to ensure the same. The share further moved on make a Higher High 4 and reversed with Bearish Engulfing Pattern. The share then continuously moved down and created a Lower Low. As mentioned in the first part, the first indication was the Channel Breakout and Lower Low gave the second confirmation of downfall coming up. Here we should rely on the confirmation and find a good level to short the share. Since the share is near its crucial support, it would be correct to short this share if : 1. It breaks support with Volume 2. If reverses from Support, we should short near next resistance. The share as expected took support of the major support at 350 and reversed from here creating a Bullish Belt Hold Pattern. Since then the share has formed a channel between support and resistance and moving in between. Shorting near resistance and Going long near Support would have been a good strategy. On 22nd the share broke the support with Volume , there confirming the further breakdown.. Historic Support and Resistance have great significance and such levels are always respected by the shares. Further double confirmation should be used while taking position. Every person has different way of analyzing shares. Some follow Candlestick Patterns, Some follow trend-lines, some follow Elliot Wave and there is nothing wrong with any of these methods. Each of these methods is successful in their own and you need to believe in the strategy you believe and religiously follow it. Just to hold onto your faith and continue with your strategy. Even the basic Candlestick patterns have the ability to reap you awesome results. Thanks, i hope this is Helpful. Keep sharing the list of shares you want an analysis on. Thanks :) PS : All views welcomed if they intend a fruitful discussion. And If Warren Buffet says he still learns, who are we to say or believe that we know all. Lets learn together and Earn together. #JOURNEYOFATRADE
NSE:ADANIPORTSEducation
by prathamaggarwal
7
Banknifty – At a crucial level !!Today’s closing of Banknifty NSE: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 exhaustion. Today Banknifty has also formed a Dragonfly doji at the top. Will look for Shorting opportunities below 26000 levels with a small stop loss. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Adviser for any investments.
NSE:BANKNIFTYShort
by nano6yogesh
CONCOR: The Next Ideal Place to Go LongIn my previous post I suggested buying..perhaps the move started a bit earlier than expected but hit the target..see below >>> 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 or at a lower price ? Before beginning I would like to make it clear that the following scenario would be active below 1340. However, any move past 1390 without breaking 1340 may take the stock back to the highs. I believe that stock has run quite well in the recent past and it may take a breath for a while before resuming its upward journey. Looking closely into the chart we have a support zone with multiple confluences. Yes, it is the 1290--1308 zone. As you can see, there are more than one Fib. levels in this zone; historical horizontal support levels; and a harmonic reversal zone. I would watch for reversal pattern in this zone and go long with stop below the recent swing low made at that time. I will look for 1338; and 1360 as the targets. # A clean sweep by the bears in the PRZ (without any signs of slowing down) would be a sign of weakness. I would be cautious in that case. Have a safe trade Happy weekend Hit like/comment. Regards Bravetotrade
NSE:CONCORLong
by Bravetotrade
Mahi Mahi: If A Stock Is Down 2%, It Can Be Down by 4 %That's true..down 2% doesn't mean it can not go down further. But the conditions are that: It should be in a strong downtrend on a higher time frame; and we should have proper tools and system to manage our trade. M&M has been in a strong downtrend on Daily, 4H and H. So I thought it could be nice short. But by the time I could open my lappy, stock was already down 2%..how lame. I opened up my Ichimoku System and saw that stock had given a fresh break down below the cloud with higher volumes on 15 min chart (See candle A) and it was already in bearish territory on higher time frames. All I need to do was to find a better opportunity to enter. Candle B went deep into the cloud and then sold off quickly. I placed a sell order below the small swing @ 1319.50 and got hit in the very next candle C. My initial stop was above the high of candle B. Then I kept on trailing. The doji pointed in the chart had a nice volume but price was able to breach only a few paisas above this doji, and I was not stopped. # I always give some room above the high of the candles when I trail so that I am not hit easily. Finally I was thrown out of the trade @ 1303.60. It was a nice 16 point trade or 1% of the stock value. Whenever I get 1% of the stock value as profit I call it a good trade. Without a good system in hand, I might not have touched the stock. Above trade does not mean that I dun lose. I had a small loss in SRT buy, which I covered later in the session by shorting it. Sometimes it takes time for daily trend to clarify itself. I was breakeven in Tataglobal and you all know about Mindtree :) The above experience would definitely help me to be more disciplined in future. I hope the same for all traders. Have Fun, and happy weekend. Hit like and comment. Regards Bravetotrade
NSE:M_MEducation
by Bravetotrade
8
Nifty: 31st July Session And Preparation For TomorrowToday 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 through the support of 10048 and the Doji gave some hope to the bulls. The rest of the session was all bull control and bears covering their shorts. If bulls take control tomorrow we may test out minor target at 10095 and probably the final target 10114. OR the bears may be aggressive in the morning and we may face some retracement, In that case PRZ are the area (see the chart) to watch out for an upside reversal. Hit Like/Comment if this information is useful. Trade Safe,Stay Healthy Best Regards Bravetotrade
NSE:NIFTYLong
by Bravetotrade
2