ICICI Bank - Weekly Time FrameICICI Bank - Bearish
One can short from current level with a SL of 704.
Note: On a weekly TF the stock has broken 50 EMA and hence on a shorter term the chart set-up in bearish.
Long Set-up
644-650 seems to have a strong support level.
Can start accumulating from 660/650 and keep space for lower levels.
Caution: If it breaks (Weekly TF) downfall of more 80-100 points is possible.
Exponentialmovingaverages
U-TURN Resistance converts into Support (EDUCATIONAL -AARTIIND) Aarti Ind. ltd. This stock has taken Resistance twice at same level, then it consolidated as a parallel channel at that same zone,
and then it given good breakout from parallel channel along with good intensity of volume,
Now it has retraced almost 78.6%, co-incidentally (1) same resistance zone, (2) Parallel channel's top, (3) Support trend line and (4) 200 DEMA, all are there at similar point location, All these 5 conditions met at same level that can provide good support. This scenario makes probabilities very strong each time. where stop loss is too low and Reward is too Good.
Overall scenario
Perfectly U-turn from valid fibonaccy level 0.786%
Daily macd line uptick and also converging towards positive
Good support zone
Support providing 100DEMA also at same responding zone
Parallel channel scenario
Support Trend line
Disclaimer
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing
I am not responsible for your profits and losses
ALKYL AMINES(Bullish wolfe wave)ALKYL AMINES:
Few key points to note:
- A Bullish WOLFE WAVE has been formed
- Waves counting are mentioned
- Tested the Gann Level of Prior Trend
- Recently tested 200 EMA
- RSI Exaggerated Divergence
I expect a bounce from this point for 3578-3630-3849, but we don’t have any reversal signal yet. Once a bullish candle is formed at this level, we can long for the mentioned targets.
CHART & ANALYSIS – ADARSH DEY
JINDAL STEEL & POWER(SHORT TERM BOUNCE)JINDAL STEEL & POWER:
Few key points to note:
- Near the support & resistance trend line
- At golden ratio of prior trend.
- Waves counting are mentioned
- Recently tested 200 EMA
I expect a small bounce from this point for 420-430-447, but we don’t have any reversal signal yet. Once a bullish candle is formed at this level, we can long for the mentioned targets.
However for long term (1 YEAR & ABOVE) I am not bullish on this stock at this point of time because few important parameters are not met.
CHART & ANALYSIS – ADARSH DEY
How to ride on a swing trade ??? Ex :AMZNHow to ride on a swing trade?
One good strategy in price action is to use 21 EMA and ride on swing trades for short or long terms. 21-day EMA can be called as the Goldilocks of all moving averages. 5,8,13 can be too tight and 50,100,200 are too loose for looking at moving averages, hence 21 EMA can be considered as a powerful average.
In this strategy 21 EMA LOW and 21 EMA HIGH are plotted on the graph forming a channel. Any channel breakout up or down triggers a buy or sell respectively. The bar which detaches with the bar which pierced out of channel can be used as a buy or sell. Please remember this bar should be in the trend up or down respectively to the earlier bar which is piercing out of the channel and not at same levels. In uptrend, high of that second bar can be used to buy and in downtrend, low of the second bar can be used to sell.
Put stop loss of one bar below for uptrend and one bar above for downtrend. Keep trailing as per the risk appetite. We can add during the trend when the candlestick bars touches the channel line and again detaches itself to follow trend, same second bar high should be used as explained earlier for buy or sell respectively.
Keep raiding this trend until the bars touch lower channel in uptrend and upper channel in downtrend respectively. There are many ways to take profit as per your money management. Book profit at 1:2 or 1:3 or 1:4 etc as per the risk. One best way is to put trailing stop loss at high of every bar, it can also be at low but if the size of bar is big and in case of reversal of trend, that bar length of profit would be lost. If the bars are too big then half of the bar can be used for stop loss to average out of profit on reversal. If the bars are far away from channel profits can be booked.
This works very well for 1 hour and above time period. Certain stocks may not fall into this strategy due to way they operate or may very rarely follow the above 21 EMA channel pattern.
Above chart is an example and we tried to put strategy as simple as we can. Exceptions to strategies will always be there, so please back test as much as you can to understand this method.
Hope this helps to gain a bit of knowledge!
Please press like or thumbs up button, if you like this strategy, Thanks
PHILIPCARD | BUYPHILIPCARB has shown a good entry point today.
Trend based indicators show:-
Crossover of 10EMA over 20EMA (BUY)
Crossover of +DI over -DI (BUY)
MACD line entering bullish zone (BUY)
Volume based indicators:-
CMF showing convergence since 3rd of March (BUY)
Ichimoku cloud strategy:-
Price crossover above cloud (BUY)
Tenkan sen crosses above kijun sen
Targets:-
1st target:- 224
2nd target:- 227
3rd target:- 232
Notes:-
I am currently using the a free account and so i cannot attach an external link showing the above confirmations of all trend based, volumes based and momentum based indicators, it would be really great if you help me gain some Reputation Points which will enable me to post my analysis in dept Charts.
NSE:PHILIPCARB
BAJAJFINANCE :AnalysisThe stock has given breakout from its monthly as well as weekly support levels. A possible retracement is underway, if this support level was held firm by this stock then there will be continuity in the uptrend.
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The safest entry levels are above 5400.00 Levels and SL must be below the immediate swing low.
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Wating current market sentiment Risky Trades can enter at 5100.00 levels if found sustaining the support levels.
Recommended Sl must be near 4950.00 to 4900.00
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Calculate ur RR ratio and then trade.
PS: I am expecting a halt at support levels for a bit them momentum might continue.
BANKNIFTY TRADE SETUP BANKNIFTY TRADE SETUP
-INDEX WILL OPEN LOWER
-BEARISH ENGULFING PATTERN VISIBLE ON THE CHART
-CRUCIAL SUPPORT PLACED AT 21200-21250
-INDEX CAN TEST ITS 20-50/EMA PLACED AT 20655-20750
-BANKNIFTY REVERSED JUST BEFORE TESTING ITS 100-EMA PLACED AT 22570
-PROFIT TAKING ON THE CARDS
-LOOKING FOR OPPORTUNITY TO "BUY ON DIPS"
-AGAIN TRADING THROUGH OPTIONS TO RIDE THE VOLATILITY
-BY THE SECOND HALF WILL START TO ACCUMULATE OPTIONS
BANKNIFTY RESISTANCE FOR THE DAY
21620-21470-21200
BANKNIFTY SUPPORT FOR THE DAY
21050-20870-20655
!!PLEASE NOTE THE ABOVE INFORMATION IS FOR KNOWLEDGE ONLY!!
!!TRADE ACCORDING TO YOUR RISK PROFILE!!
!!SUGGEST OPTION TRADES TO NAVIGATE VOLATILITY!!
!!HAPPY TRADING!!
READ OLD POST ON INDEX AND SEE HOW WE ARE POSITIONED IN THE INDEX
NIFTY TRADE STEUP NIFTY TRADE STEUP
-SGX NIFTY IS SHOWING A NEGATIVE START
-YESTERDAY WE SAW BEARISH ENGULFING PATTERN AND CONFIRMED OUR PATTERN OF RISING WEDGE
-TODAY INDEX WILL GAP-DOWN AND TEST OUR PREVIOUS CRUCIAL LEVEL OF 10160-10030
-I WILL ALSO UPLOAD THE 30-MIN CHART
-TRY AN UNDERSTAND I AM LOOKING AN OPPORTUNITY TO BUY THE DIP
-THOUGH I AM OPTIMISTIC I AM NOT CRAZY
-I WILL CREATE LONGS BUY ACCUMULATING JULY 10500 CALL OPTIONS
-AND TRY TO NAVIGATE ANY DOWNFALL BY TRADING IN THE WEEKLY OPTIONS
-TODAY I EXPECT THE MARKET TO TEST 10050-10160
-INDEX WILL LOOK TO TEST ITS 100-EMA/20-EMA
NIFTY RESISTANCE FOR THE DAY
10275-10330-10380
NIFTY SUPPORT FOR THE DAY
10160-10070-10030
!!PLEASE NOTE THE ABOVE INFORMATION IS FOR KNOWLEDGE ONLY!!
!!TRADE ACCORDING TO YOUR RISK PROFILE!!
!!SUGGEST OPTION TRADES TO NAVIGATE VOLATILITY!!
!!HAPPY TRADING!!
YELLOW LEVELS ARE CRUCIAL SUPPORT ZONES
READ OLD POST ON INDEX AND SEE HOW WE ARE POSITIONED IN THE INDEX