Nifty View 23500 Breakout & Retest Play Hi friends sharing a view for Nifty on weekly chart and i hope it will be a good learning idea more than a trading idea and I am tagging this idea in long category for publishing because by the my analysis i am getting a long view for Nifty and can touch 23500 levels in nearby sessions but my idea having a good learning content too we can apply it in our next trades but unable to tag both long and educational flags at the same time so i am going to tag it long view as i seems higher levels, and learning we all can get eventually by this publication mates.
So now conclude that how i am getting 23500 levels now let me tell you i mentioned two breakouts and two retests as you can see on chart so what my logic is this that after breakout one it retest breakout identically and it moved 24 percent upward after and now after the breakout two price retested too and moving upward and can do 24 percent for this time too although this retest completed many weeks ago but i am sharing this idea might help to any mate in anyway for taking view about longs or short if they are having same view and agree with my publication.
Rest i will update idea if i find something important to share with all of you.
This publication is meant for only learning purpose, it is not any kind of trading advice.
Best Regards- Amit (Do boost my publication if you really like it mates)
“The goal of a successful trader is to make the best trades money is secondary.” – Alexander Elder
Community ideas
Bajaj FinanceThe stock price has been coming down in one month from 7800 to 6600. This time consolidating at lower levels, and support also can be seen on the charts.
If bounces back from these levels, may go in an uptrend. Projected targets are indicated on the charts.
If closes below 6520 for two days, may go weak according to this setup.
The risk-reward ratio is good in this setup.
This illustration is my view, only for learning and sharing purposes, not trading advice in any form. Please conduct your analysis before taking any trade.
All the best.
Vaibhav Global correction completeAfter good long correction this stock is showing strength.
1. Earlier resistance of 390 levels have become support.
2. Good buying volume
3. Retest of bullish super-trend
SL being 17% qty needs to be controlled.
However considering RR ratio of 5 I would keep it on my watch to buy on dip.
Target and SL on chart.
Crudeoil Update || Feb13 || MCX
Timeframe: 1 Hour
Strategy: Long
🔶BULL above 6400 --- target 6486, 6520
🔶WTI crude futures stayed around $77 per barrel, near a two-week high, due to ongoing tensions in the Middle East.
🔶Israel's airstrikes in Gaza and Hamas ceasefire rejection impacted oil prices, but talks in Beirut hinted at easing tensions.
🔶Concerns about inflation and potential delays in Fed rate cuts could limit oil price gains.
🔶Investors are awaiting key US inflation data and monthly reports from OPEC and IEA for further insights.
BANKNIFTY Intraday Trade Setup For 12 Feb 2024BANKNIFTY Intraday Trade Setup For 12 Feb 2024
Bullish-Above 45730
Invalid-Below 45620
T- 46220 46710
Bearish-Below 45250
Invalid-Above 45360
T- 44800 44300
BANKNIFTY has closed with a slight cut of 0.73% last week. On Friday it closed on a positive note where it gave a sharp recover of 800+ points from Thursday low. It closed at 0.618% of one last leg pf fall so it can act as a resistance. In case 45250 is broken then this we will treat as it has taken resistance from half bat (0.618). In case it takes out 45730 and candle closes above that then the sentiment created on Friday will be carried forward.
Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 45730 then we will long for the target of 46220 and 46710.
For selling we need a 15 Min candle close below 45250. T- 44800 and 44300.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
==========
I am Not SEBI Registered
This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
CENTURYPLYBIRLACORPN
52week breakout with volume rise and very important point is stock is retext & give a good support zone which is already broken resistant zone with h volume .
respect SL ... like me of discipline trader
large multicap company .
.Company has delivered good profit growth of 19.3% CAGR over last 5 years
holdings :-)))
a) Promoters 73%
b)FIIs & DIIs 20%
c) Public 7 %
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"Disclosure : I am not Sebi-registered." This channel is for only educational purpose. Any profit/loss, I am not responsible.
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Nifty Private Bank index breaks supportThe Private bank index broke the January low ahead of the Bank's nifty intraday today. Is this a lead indication that the next wave is down? I would like to think so. It would be wave C or 3 down for the bank nifty if proven true. The bank indices are below the moving averages already and the Nifty is testing the 20dma today. 45 mins to close the session.
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AUDUSD bears can ignore post-RBA rebound from 11-week lowAUDUSD prints the first daily gain in three while bouncing off the lowest level since mid-November after the Reserve Bank of Australia (RBA) kept the benchmark rates unchanged. The corrective bounce also justified the RSI (14) line’s rebound from the oversold territory. However, the bearish MACD signals and the previous week’s confirmation of the Head-and-Shoulders (H&S) bearish chart pattern keeps the Aussie pair sellers unless the quote jumps back beyond a convergence of the neckline and the 100-SMA, around 0.6525-30 by the press time. It’s worth noting, however, that the quote’s sustained trading beyond 0.6530 isn’t an open invitation to the Aussie pair buyers as multiple tops marked during late January and early February near 0.6620 and the 50-SMA hurdle of 0.6650 will act as the final defense of the sellers.
Meanwhile, the AUDUSD pair’s fresh downside needs validation from the latest multi-day bottom surrounding 0.6470 and the mid-November swing low of around 0.6450. Following that, the odds of witnessing the Aussie pair’s quick fall toward the November 10 swing low of 0.6338 and then to the theoretical target of the H&S, namely the 0.6190 can’t be ruled out. That said, the previous yearly low marked in October around 0.6270 may act as an intermediate halt during the fall between 0.6338 and 0.6190.
To sum up, the AUDUSD pair’s recovery remains off the table despite the pair’s latest gains.
#Nifty directions and levels for February 6th. #Nifty
Good morning, friends! Here are the directions for February 6th: The global market sentiment is moderately bullish, supported by the Dow Jones, while our local market sentiment shows a moderately bearish trend. It might open with a neutral to a slightly gap-up start, as indicated by Giftnifty showing a +20.
Nifty has had a reddish sentiment in the past two trading sessions. Even though it is reddish structurally, we can expect a rally continuation when it breaks the fib level 38%. This is because the previous wave count shows a proper 5-3 structure. If the market sustains the gap-up and breaks the fib level 38%, then we can expect further pullback continuation with minor consolidation.
Alternatively, if the gap-up doesn't sustain or opens with a gap-down, then we can expect correction continuation. It might not be in ABC structure; it might go in a 5-wave structure.
AARVEEDEN: HORIZONTAL RESISTANCE BREAKOUT NSE:AARVEEDEN
Aarvee Denims & Exports Ltd. engages in the manufacture and sale of denim and non-denim Fabrics. It operates through Textile and Windmill segments. The company was founded on March 28, 1988, and is headquartered in Ahmedabad, India.
Technical View
Trading in a tight trading range on the weekly chart.
and Also above - 200 ema
Formed a horizontal resistance point at 33.50
Go long above resistance with a Stop of 15
Targets Shall be 40-62-78+
Keep Learning,
Happy Trading.
Cup and Handle On the Higher Time Frame spotted this chart pattern while going through the chart patterns on the numerous charts
Bullish trend is seen on the charts -
Volumes Going Under Consolidation - Average Volumes below the normal
Cup and Handle Formation - Pattern when is being formed the volumes decrease and consolidation is witnessed
The Brealout will be confirmed by the volumes spurt that takes place
Falling Knife Stock-A case study approach!Introduction:-
We have seen an amazing bull run in global markets including our Indian markets in the past 3 years. Many investors have been able to gain multibagger returns from this bull run.
However, we all must understand that like every coin has 2 sides, every bull run has few stocks which are either under performing(like our beloved HDFC Bank) or are part of falling knife category.
A falling knife is a term used when a security, such as a stock, quickly drops in price. During such instances, investors are recommended to wait for the security to reach its lowest point before buying back in. (Source: CFI)
The reason for falling knife could be change of fundamentals, weak results, future degrowth prediction or anything beyond our understanding.
And it is important to identify such stocks . Investors try to enter such stocks thinking they have caught the bottom just to keep funds locked in the stock for longer times. Hence,it is beneficial to stay away from them until a reversal pattern is seen with good volumes in weekly time frame.
Case study:-
Let's discuss one such stock from the footwear category, Campus Activewear.
Company is one of India’s largest sports and athleisure footwear brands in terms of value and volume. Good return ratios(ROE,ROCE) above 20%, high sales growth of 32% in last 3 years,slightly expensive valuation but hardly anything so wrong in fundamentals from my understanding.
Being a techno fundamental investor, I look at lot of things from fundamental as well as technical perspective before entering.
So, from a technical view, just have a look at stock's chart. In late 2022, stock was around 620 levels and now stock is trading near 270 levels which is more than 50% of wealth destroyed. A proper example of Falling Knife whose bottom is still not made. There must be some unlucky investor who is holding the stock from the tops expecting a reversal but what he has missed is the amazing bull run of Nifty from 18800 to 22000 in this last 10 months. And that is a huge miss.
Learnings:-
#1:-If you are an investor with have limited capital, it is better to have a Stoploss even for your investment stocks in a bull run.
Remember, Even Warren Buffet owned Berkshire Hathway booked loss in Paytm
#2:-If you are an investor with good amount of free capital, just forget! Don't have FOMO. Cash equity securities are beautiful and unpredictable. We might see this stock above 1000rs levels or below 100rs in the next 5 years.
Remember, even The best of best investors owned few stocks which failed miserably.
#3:- For an investor trying now to hunt a bottoming/reversal opportunity,do wait for stock to sustain a weekly closing above 320 which is a strong resistance.
Remember, not even promoters can catch exact tops and bottoms, so you also should not try to!
Conclusion:
I would say that if you trust your analysis and company's fundamentals, you should not listen to outside crowd. However, A falling knife can act as a dagger in your portfolio .
A smart investor is one understands what company's business is as well as what the stock's chart is trying to say.
ZEE Ent's Rise: Listening to Dalal Street's Market WhispersDisclaimer:
Trading in financial markets involves substantial risks. Consult your financial advisor before making decisions. This commentary is not a solicitation to buy or sell.
WaveTalks - Market Whispers: Can you hear them?
Fundamentals:
Institutional Trust:
A significant holding by Domestic Institutional Investors (DIIs) compared to Foreign Institutional Investors (FIIs) indicates strong domestic confidence. This is backed by interest from major fund houses like ICICI Prudential, Nippon India, and HDFC Mutual.
Potential:
The DII trust and backing from prominent fund houses suggest potential for positive surprises in the stock market. In a market where news plays hide and seek, the strong interest from these institutions could be seen as the market whispering its confidence in ZEE's potential. It's as if "Wavetalks - Market whispers, can you hear them?" becomes a reality.
Technical Analysis:
Historical Performance:
Since January 2018, the stock fell from highs of 619 to lows of 114 in March 2020, a drop of about 81.5%. This was during the early phase of COVID-19, indicating that market prices often anticipate events & discount them. After all, Price is God.
Recovery and Fluctuations:
Post-March 2020, the stock recovered to 378 by December 2022 but again fell to 165-170 in June 2023. The last six months of 2023 saw another rally to around 299/300.
Current Trend and Outlook:
The stock crossing the 300 mark is a key trigger, potentially leading to retesting of the December 2022 highs (378) and possibly extending towards 400-425.
Sony Group Corp. Board Meeting:
The upcoming decision on the $10-billion merger with Punit Goenka-led media conglomerate is a critical factor. Positive news could further boost the stock.
Wave Analysis:
Probability:
There's a 75% chance, according to wave analysis, that the stock will make new highs above 300 in the coming months.
Key Levels:
Traders should watch for psychological levels like 250 and 300 for trading opportunities.
Conclusion:
Wait and Watch:
The outcome of the Sony Corp board meeting is crucial. It's important to monitor the stock closely for any upward movements.
Trading Strategy:
Considering the stock's volatility and potential, traders should be alert to key price levels and news updates for timely decisions.
From
WaveTalks
Market whispers!
PAKKA LTD: Daily BreakoutAnalysis for educational purposes only. I am not a registered analyst.
A Higher High Higher Low structure on price action is considered as an uptrend.
- In the daily chart, we see a breakout of previous Higher High.
- Wait for Higher High retest and enter somewhere close to it.
- Cannot expect a stock to test the exact same value.
- Set SL as previous HL or in cases where there are other lows close by, choose the lowest one.
- Calculate the possible loss assuming the stock hits SL
- If you are OK with the calculated loss, enter.
- Trail the SL at every new Higher Low.
- Wait for breakdown of a Higher Low OR Target
