Falling Wedge
ICICI Bank good for short+long termPossibility 1
:-Gap fill and continue up trend
Possibility 2
:-Gap fill+ retest of falling wedge supply zone
but but!!!!
times are hard, covid 19 cases are continuosly rising at an alarming rate and this same type of market structure nifty formed last year before crashing down to
near 7500 levels
last trading day foreign investors sold a whopping 3500 crores in just a single day
this type of large selling has been done only few times in the last 1 year and we have seen what this means
this clearly means investors are now on a reality check and especially FIIs ( Foreign institution Investors ) are pooling out their money little by little
so make sure if you investing then dont go all at once.
start an SIP, this is the ideal moment where you can start SIP and go for blue chips which you know
diversify your portfolio, and i would suggest play defensive this time and choose defensive stocks at this point of time
anyways, all these are just views. No one can predict the market and we have seen that in the last few days
covid cases rising and markets rising continuously without a head and tail
if situation persists, sooner or later everyone is going to react and it seriously takes only 1 day to take down your whole portfolio down by 10%
so invest wisely, and make sure you make the least mistakes possible
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BANKNIFTY SHORT SETUP ON 15 MINS CHARTBNF is trading a wedge range pattern and we can observe the range of the pattern squeezing at the end indicating contraction. There’s also falling wedge formation price action action pattern which indicates a possible reversal about to happen. Also we have a resistance level on hourly chart that could help the breakdown of falling wedge pattern. Trade at your own risk. Enter short after the breakdown of pattern. Trade safe
Larsen & Toubro 15 mins chart analysis.LT is forming a falling wedge pattern which is a Trend continuation pattern. As LT is sustaining below 200 EMA it indicates that stock is in downtrend and falling wedge formation gives strong setup for shorting stock in intraday basis. Look for the open of market if the range or wedge is broken down go for short trade.
This is just my view. Trade at your own risk. Trade safe.
Banknifty long setup on 15 mins chartBNF is under pressure due to lockdown and increase in COVID news. After a huge gap up, most of traders were long on trade under intention of recovery but BNF has hit all the stoploss. Before ending mondays session we can see some increase in size of green candles indicating that either there has been a profit booking session and we can see some later effect tomorrow. Using Fibonacci we can observe that BNF after a sharp fall is sustaining near 0.38% level. We expect that BNF can test 50% & 61.8% level in order to continue a healthy retracement. The gap diff between levels is still under a price of 250-350 points. Our first target will be 31100 at 59% level and 31250 near 61.8% level. Trade safe.
Cadilahc - Perfect falling wedgeWas a perfect falling wedge pattern and the pattern itself is the sign of the price going up. It was done in a style last trading day, but every time one cannot expect this kind of super moves.
Enjoy the profits when things fall in you way. Happy trading
#SBIN - CMP 370.65. TECHNICALLY IT IS A BREAKOUT STOCK.
#SBIN - CMP 370.65. TECHNICALLY IT IS A BREAKOUT STOCK.
MADE GAP FILLING AND FALLING WEDGE BREAKOUT RETRACE OF RECENT SWING 50% CORRECTION.
GOOD SUPPORT NEAR 360-358. PRICE CAN GO FORWARD TILL 385-395-410-425 AND WEAK BELOW 354 CLOSING.
IT IS ALWAYS BETTER TO BUY NEAR 367-369 POTENTIAL RETURN IN NEAR TERM. 👇🏻
IOLCP SHORT TERM ANALYSISGuys entry possible but high risky.
no entry @cmp
no entry @cmp
no entry @cmp
enter only if u get clear reversal.
other wise can see a good fall in the stock.
like i said it's just a beginning of something..maybe a good fall..or a sharp recovery
short term
enter if possible @ 580-550 range
strict sl 500
trgt 800-900-1000-1200 ++
once again guys strick sl @500
if the stock reject from current level or betweeen 580-90 range
it will hit 800++ sooon