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Double Top

Nifty: Would it continue or are the legs getting tired???Nifty On rise, one may look to sell Nifty. T1 and T2 are highlighted in charts SL one may keep a SL at 17442 for Nifty Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:NIFTYShort
by indiamarketoutlook
2
DLF: Deja vu close observed near resistanceDLF This pattern occurs when two green days appear with equal closes in an uptrend. It might indicate a short term top has been reached. - A new high was made today but there was no follow through buying, which bought it back to previous day's close. - Interestingly this has happened near the high made in March 2021 - It could be a case of a good resistance price. Explaining the pattern : - The stock has been higher, as evidenced by strong green candle on 18th July (previous day). - The next day, the stock opens lower but then it recovers back, tests the previous day's high but eventually closes at the same / similar price as previous day. This is possibly an indicative of short term resistance and may cause much concern with the bulls. Entry can be considered when midpoint of previous day's green candle is broken. SL can be kept at the highest point of last 2 trading sessions ________________________________________________________________________________________________________ - the last 2 days F&O volume has been the highest in this series and is almost 3 times the average volume of previous 16 trading sessions - however the Open Interest has not increased at all. Which prima facie, suggests change of hands, rather than fresh buying interest. F&O strategy for the given set up Consider selling July expiry 340 Call option between 5 - 7.5 Closing price is 6.05 If selling at 5, The strategy will have a max profit potential of Rs 16500/- per lot till 29 July. More importantly, it would have an inbuilt loss protection for a rise up to 345 till expiry. Trust you find the overall analysis useful. Like & Follow But don't just follow me blindly Learn to identify opportunities independently
NSE:DLFShort
by indiamarketoutlook
DOUBLE TOP FOR BECTOR FOOD- POSSIBILITY OF SHORT TERM REVERSALBECTORFOOD has fallen to a low of 328 in March 2021 and has been Bullish since then. It has reached a High of  445 in June and has retraced from the resistance zone at 442-452 range to a low of 395. Now it has reached the resistance zone again and has made a Bearish Pin Bar that is half of the Evening Star Candle Stick Pattern. There is also a Bearish Divergence. So short term the pattern is bearish. To go long we have to wait for break of the resistance zone at 442-452 range and wait for a retest and can go long on a confirmation Bullish Candle for Targets of  502.
NSE:BECTORFOODShort
by eastwind65