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07 Mar ’24 — Another stable day, getting ready for next jump?Nifty Analysis - Stance Bullish ⬆️ Recap from yesterday: “We are maintaining our bullish stance for tomorrow as well, but we are not expecting 22600 to be broken tomorrow.” 4mts chart It was another perfect day for the option sellers, mostly the short straddlers. Nifty struck a narrow range today and had no special adventures. Looking at how Nifty50 traded today makes me remember the Cricket commentators saying “After hitting the first 2 balls for 6 & 4s, take singles and rotate strikes..”. Nifty50 did the exact same thing today. The rotations were in the sub-sectors and the market breadth was improving. Media, Metal, FMCG, Pharma, Consumption, and Commodities all did well today and the laggards were Banks and Energy. Between the last expiry and today, Nifty50 rose 440pts ~ 2%. Most importantly it took out 2 support/resistance levels - 22051 and 22295. And we rewrote the ATH twice. As it looks everything looks GREEN on this side. Tomorrow will be a holiday in India, so our next market action will be on Monday. If US markets advance and take out their ATHs by then, we can expect a huge gap up in the next session. In case the Global macros weaken over the weekend - the Bull's party could be cut short too. Wish you a happy weekend. 63mts chart
NSE:NIFTYLong
by viswaram
Long Position in Natural GasNatural Gas has broken important support zone of 160-165 this week & now trading at 135. Natural gas is approaching its next major support zone of 128-120 CMP is 135 & I'm opening long position in futures. I'll add more position if 125-126 comes. SL would be below 119 Targets I'm expecting are 158 and 167 which was support zone before & now a resistance. Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
MCX:NATURALGAS1!Long
by akshit_official
6
OIL | Investment Pick📊 DETAILS Sector: Oil Exploration and Production Mkt Cap: 38,539 cr Oil India Ltd is engaged in exploration, development and production of crude oil and natural gas, transportation of crude oil and production of LPG. It also provides various E&P related services for oil blocks. TTM PE : 6.56 (High PE) Sector PE : 7.62 Beta : 0.77 📚 INSIGHTS Strong Performer Stock with consistent financial performance, quality management, and strong technical momentum indicating good investor enthusiasm. Currently valued at Good to expensive valuation 1.51% away from 52 week high Outperformer - Oil India up by 9.75% v/s NIFTY 50 up by 9.39% in last 1 month 📈 FINANCIALS Piotroski Score of 8/9 indicates Strong Financials Disclaimer: This analysis is for educational purposes only, and I'm not a SEBI registered analyst. If you found this analysis helpful, I encourage you to like and share it. Your observations and comments are also welcomed below. Your support, likes, follows, and comments motivate me to consistently share valuable insights with you. 🔍 More Analysis & Trade Setups 🔍 For more technical analysis and trade setups, make sure to follow me on TradingView: www.tradingview.com
NSE:OILLong
by Munish_Jain
2
Oil India Limited - Long Setup, Move is ON...#OIL trading above Resistance of 502 Next Resistance is at 774 Support is at 334 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:OILLong
by MandeepSinghKohli
09 Feb ’24 — BankNifty retraces and defends the Support LevelNifty Analysis - Stance Neutral ➡️ Recap from yesterday: “Nifty is by no means bearish, unlike BankNifty which slipped into the RED today. If BN continues the southward journey tomorrow, most likely N50 will have to follow suit.” 4mts chart Nifty creates a double bottom (W pattern) in the 4-minute time frame. Although we did not retest the 21913 support/resistance level which we broke yesterday, the entire price action today showed no intent of bearishness. The interesting part of the opening 2 hours today was that Nifty gave a false impression of bearishness. We fell to a swing low of 21629 by 11.03 and then reversed today. The reversal from that point was approx 175pts - it did not come in a fast and furious manner, rather it was a steady climb. What would have happened yesterday would just be a blip, the price action of BankNifty today makes us think so. Or else why would it rally 622 points ~ 1.38% and reclaim the support level today? NiftyIT on the other hand was looking weak today and was contradicting the other index heavyweights. CNXPSE, Metals, Smallcaps, Midcaps, and Energy traded in the RED today. 63mts chart For Monday, we wish to maintain our stance of neutrality. To go long the resistance of 21913 has to be taken out and to go short 21615 has to be broken first and then 21491. Wish you a happy weekend.
NSE:NIFTY
by viswaram
ASIANPAINTS Breaking out 1 month of consolidation . Reasons To Enter : NSE:ASIANPAINT 1. Stock about to breakout after consolidating for a almost a month . 2. Crude Oil is going down , so considering the inverse correlation between crude oil and paint stocks , we can see demand going up as oil gets cheaper . 3. Stock closing above both 50-9 EMA 4.Breakout , retest already done . Now price might go up . . . . The information provided is for informational purposes only and does not constitute financial advice. Investing in the stock market carries risks, and past performance is not indicative of future results. Individuals should conduct their research, consider their risk tolerance, and seek professional advice before making investment decisions. The accuracy and completeness of the information are not guaranteed, and the authors disclaim any liability for losses incurred based on reliance on this information.
NSE:ASIANPAINTLong
by Vector-killz
The Tyre King MRF Done with Upside?? Then Downside Levels hereStock is down almost -9% from it's freak trade all time high 150233 dated 17 Jan. 2024 There is only strong resistance around 145800 All other unnamed green horizontal lines could be work as short term support to bounce back and profit booking from short postions. If Green line broken down decisively then "Support becomes Resistance" theory suppose to be applied. Disclaimer: Analysis & View are personal and for the educational purposes only. Trade at your own risk. We recommend consult your financial advisors and do your own analysis before taking any trade. Profit and Losses are subject to your own risk management and constantly changing market conditions.
NSE:MRFShort
by SEBIRegistered