BANKNIFTY Intraday Trade Plan BANKNIFTY Intraday Trade Plan
BUY LEVEL - 44450 -44350
STRICT INTRADAY ONLY
Fiblevels
$MAGIC at ConfluenceConfluence or High Quality trading is where 3 or 4 technical signals merge with each other.
BINANCE:MAGICUSDT showed up a nice confluence with FIB Levels, Exponential Moving Average, Trendline break and all that at Support zone.
This High quality trade is what a Daytrader should always patiently wait and look for.
All my level are marked in the picture. Let's see how it plays.
todays possible entries we have 3 entries for today with high probabilities for entreis,
2 long and 1 short
GRASIM For Swing and Intraday Trade on 07 Feb 2022Good for Intraday 07 Feb 2022 and Swing as Well. For intraday it is making a bullish flag pattern so we can look for long move depending upon the market trend and for Swing the Script has retraced from FIB Level.
Only for study purpose ... Pink lines - Fib levels ...
Price gave closing above .618 level, If he crosses high of hammer candle we will take entry.
Targets are as shown in the graph and if the price crosses an all-time high there is also one more target.
Were taking entry on the basis of the support zone of FIB level and Hammer candle and there is a big support of 200 EMA.
DrReddy - Last chance to buy before another runDrReddy is getting support at 0.618 fib level and the traded volume is also decreasing. In 1-2 days we may see a spike in volume and which will start another bull run. It is also forming a Flag and Pole pattern. If Flag and Pole breakout happens than Target is 5900++ in coming weeks.
Nifty: In A Range. Will It Break?Hi
I think market is at a crucial juncture so there is need to do some analysis.
Market has been in a very choppy range for the last week or so. The minor trends in this range were down as market has been making lower highs and lower lows.
What if this downtrend continuous?
Market has tested an important 50 % retracement level of 10856 on Friday. If market breaks this level decisively, I ll be looking for 10643-10700 zone as my target for next week.
What are the chances of a bounce back?
Markets are oversold on higher timeframes. It has touched an important 50% retracement level also. So probability for a bounce back can't be neglected.
But when will we take the long trade in case of bounceback?
Let the market first break lower lows-- lower highs structure. For that it ll have to show strength beyond 11035 level. There could be a breakout long entry or the pullback entry depending on ones' trading style.
What targets to expect on upside?
First 11136-11200 zone and then 11285-11306 zone.
I hope this analysis will help some traders in making better decisions for next week.
Regards
Nifty : Standing Against the Bulls, Potential Short !Shorting Nifty Now ?? That too in this Bull market ??? Yeah... If they get aligned and validate My rules I have no hesitation to short the Nifty. I'm looking at few rules I have,
(i) Fib level reversal ( Yes) Golden Ration 61.8% in Resistance zone
(ii) Resistance zone - Yes
(iii) Fib extension confirmation - Yes
Waiting for Bearish price action confirmation to short. But that doesn't mean Nifty will reverse, so follow your own trade plan. Nifty may give bearish signal and take out my stops again, so trade your own plan. According to Me if the rules confirm I won;t hesistate to short Nifty. This is called as following your trade plan everytime with discipline.
Standing Against Bull Force... Happy Trading !
