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FLAG

BankNifty : Sharks & Flags in Muddy Waters !BankNifty analysis is going to be real simple one. Bearish Flag formation, so what an ideal bearish flag will do ?! Breakout to downside. There are few things we need to take note here. The first one being the Bearish flag ( which I didn't enter yesterday) so if the shark is working then it will move up a little bit and today being expiry day, if a double side move happens it will be great. So first half of the day, I'm assuming the targets of sharks to be achieved and later by the day channel & Bearish flag comes into play with breakout, so being expiry day in Banknifty some movements within 100-150 points on either side will be nice or to be honest I'm expecting these. Few option traders believe they can make money in single expiry day, No it won't work that way. So never go All-in as if you are playing poker, Plan n trade carefully !
NSE:BANKNIFTYShort
by InsiderB
11
Nifty : Can Shark's topple Nifty Bull-Ship ?!Thank God, there is no typo in the Title I gave. A typo in the title might have looked bad, if you know what I mean ! Here is the plan guys, there will be 2 back-to-back Nifty charts (1) one on 15 min timeframe (2) other will be on 4hr timeframe. If you look at the chart above there is trendlines, Flag & Shark pattern. I don't trade sharks usually more often they attack us & stops out the trade. But, we have Flag pattern, actually if you zoom around it doesn't look like flag, so lets name it as channel ( dark yellow channel ). We are looking for simple breakout on anyside to enter the trade in Nifty. We may see breach of trendline if Bearish shark is forming, bcos sharks end above X, bcos of this uncertain completion of sharks , I don't trade them often but only on reversal confirmation. Two scenario's : (i) If channel breaks upside aim for targets around blue trendline 8730's, depending on price action around the trendline we will decide further move but book initial profits around the blue line (a) Yes, sub-division of above scenario, Feels like I'm writing some answer script ;) - If the breakout of channel happens upside & bearish reversal happens around the trendline - initiate short positions in Nifty. Only on valid bearish confirmation we should enter short positions. (b) If incase Nifty goes against us & 8730's breached to upside then next resistance is 8780's-8800's. (ii) If the channel breaks downside target 8610's zone, that will be meagre points only & Nifty will bounce back little after reaching there. These won't happen 2mrw itself over the next two days & go in with proper stops, false breakouts are not out of equation & I haven't considered Gap scenario's here. But if you ask my opinion an upside breakout of channel & Sharks toppling Nifty Bull-ship will be good, but let;s see guys. I will post out 4hr charts in sometime, will add that link below in comment, that will give you another perspective of Nifty but in-sync with what we discussed here. Sorry Guys about today morning, I was travelling so cudn't post in the morning, anyway I posted by US morning ( our evening which is now ), but that doesn't mean I reached U.S, I'm in Incredible India :)
NSE:NIFTY
by InsiderB
17
Flag pattern formation Havells India LongThe Stock has formed a beautiful Flag pole and consolidating forming a flag. One can see a breakout in coming days closing above the flag gives a beautiful long entry and one can look a target of above 490 on breakout. It gives a good risk to reward ratio. Specially this flag formed a good flat base which performs better. I would go long i when it starts trading above 455 with stop loss of 445 for a target of 492. Wishing you good profit!
NSE:HAVELLSLong
by praveen.bhatiya
Nifty - Very short timeframe 30minsIn continuation of our previous views - the demand zone has been broken and retested today via the gap up and upmove (that was hrly TF). On the lower TF (30 mins) a bear flag seems to have formed. Any move below 8730 and sustaining for at least one/two candles can be bad for Nifty. Very bad infact. Longs keep your stops strict, shorts abv 8760. Again, its very near to expiry so sometimes charts play funny games in fakedowns and fakeouts too .. keep tracking minutely .... trade safe
NSE:NIFTYShort
by Mur_Att
Nifty : Prediction of Direction just with Lines !Hello Good Morning Friends ! Cheer Up... Yes, we do have some trade opportunities in Nifty today. Remember yesterdays Bull flag on 5mins, it appears as rectangular pattern on 15 mins, so if a Gap Up or Nifty open in zone with rectangular breakout to upside will give us real good chance of grabbing 20 points in Nifty till the resistance zone 8840's. Actually, if Nifty reaches there there is another chance for Doubletop @ 8840's I expect Nifty to face some heavy resistance there and return back to Bear hands & late by the day 8800's zone {Rectangle zone} gets weak and support gets broke, we have potential chance to hustle up more than 70 points in Nifty. Those trendlines on chart can be drawn on 1hr, the resultant triangle pattern will look bad because of the Gaps we have in Nifty. If we get Gap down or downside breakout, Double Top around 8820's is winner and with rectangular breakout to downside, we can go short on Nifty with proper stops. There are potential harmonic patterns also present, to avoid the mess of drawings on chart, I haven't drawn them but will update them as n when it happens. As am typing, Nifty pre-market within Rectangle... Well n Good Nifty, I appreciate that ! Note : Values referred are approx. Example : 8815 doesn't mean 8815 itself, its around that. Thats why I refer as 8815's Lesson to take Home : Simple Trendlines also Work, Not compulsory to learn complex Harmonics or Elliott's !
NSE:NIFTY
by InsiderB
20
SBIN : Make money in Banks ,Not with Savings Account !If any of you thinks that your money gets multiplied in Savings Account / Fixed Deposits with SBI, its Myth. But there is another way to make money with Banks... Obviously, thats what we do... Trading ! Simple Elliot wave with examples of how to trade elliot's effectively, thats what we are going to look at. Past Setups : Flag in Wave 1 - Gap Up open we lost the chance for entry but these are the ones made huge money for past month. 1 or 2 deviates. so lets skip it Trendline Breakout in Wave 2 - When you are watching live SBI price action, you might have figured out wave 1 only that also unsure until pullback confirms wave 2 & on trendline break we will enter wave 2 for few points After end of Wave 2, we are deprived of chance to enter Wave 3 and we can't be sure whether wave 3 will move as per our prediction or will range. But we got triangle setup with Gap Up open again. Good Entry setup in SBI for Aggressive traders & they are in trade making money on Wave 3. Conservative Traders don't worry, we still have chance. Present : We are in Wave 3, now if we get valid pullback or any pattern style breakouts in current timeframe or lower tf, thats chance for conservative traders to enter the Wave 3. Actually that pullback may happen today for entry. If not, keep calm, don't kick yourself. Check other charts, its simple as that. Future : Well, if Wave 3 completes & we get valid confirmation for reversal in our marked zone short SBI for wave 4. Wave 5 we will see that later. I hope this gives you insight about how to trade Elliot waves in combination with common patterns such as Flags, trendlines, triangles. As long as it makes money, there is nothing wrong in trading those even if its repetitive stuff. If you have any doubts / need clarifications about this Wave n Entry setups, feel free to ask.
NSE:SBINLong
by InsiderB
9
Nifty : Will Butterfly Fly away ??Hi Guys... its been a while right ? yeah..long weekends n other commitments to fulfill with Nifty ranging in flag, there is nothing interesting for the last two trading days. Not anymore... Probably Nifty will decide its path in a day or two, Doji's indicate 2 things - Indecision & A Decision soon. So its time for Nifty to decide the direction, we have Bearish Butterfly n flag ranging. If Bearish Butterfly wins, flag breaks-down to south which is considered as failure of Bullish Flags. If Flag breaks out upside, Butterfly is unfortunate. Decide based on your trading plan which side you are gonna take n when...Never trade in speculation or Hurry, Follow proper plan...
NSE:NIFTY
by InsiderB
2
Bank of India : After Bullish Bat, Bullish Flag ! Bullish flag breakout thats what we have in BankIndia (Bank of India). When we look at the chart it looks like early breakout and easily it cud have moved within flag zone for few more days. Just above the flag prev resistance zone 113's-120's but breakout patterns carry huge momentum with them but Nifty doesn't make newer highs which makes us think whats gonna happen in this zone. So if this bullish momentum is retained, we will have one swift move across the zone 120 or be prepared for ranging in BankIndia which is rare scenario after flag breakout.Actually I think we discussed the bat days before its completion and its move up. (check related ideas) Instead of exiting @ target 2 of bullish bat, by trailing stop we cud have gained more points. But its not that easy work bcos, take a look at chart again the move is don't have any valid retracement, its just up..up..up n away from 80's. These are rare flying moves, now with flag breakout lets aim for newer highs ( Shortterm 1-2 months) Happy Independence Day !
NSE:BANKINDIA
by InsiderB
Larsen& Toubro [L&T] : BullishFlag in Bearish trendSimple patterns are the ones which I like to trade the most, bcos they give you clear idea of what to instead of complex things. Here we have bullish flag in LT, so I expect the usual upside breakout but will take downside trade also if breakout happens otherside. We are in bearish trend also, R3 will attend his last policy meeting today, only banks will be volatile but sometimes effect will be felt allover the market. Hit "Thumbs Up" which keeps me motivated to post more ideas...Thanks for your support.. Happy Trading !
NSE:LT
by InsiderB
Biocon : Rising Flag & Symmetrical triangle Pattern within a pattern - yes it is ! So Biocon will be very good trade opportunity on Monday for both intraday and positional traders. Probably, positional traders have to wait for sometime as there is bit of distance between trendline and current price of Biocon. Its breakout patterns everywhere around the market, so choose and trade wisely.Lets expect next week to be as good as this week we had with Nifty,Ambuja cements& few others. Hit Like button to keep me motivated to post more ideas...Thanks for your support ! Happy Trading !!
NSE:BIOCON
by InsiderB
4