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Tata Consumers looking good for Swing!!NSE:TATACONSUM TATACONSUM took a good correction from its high and took a support from lower levels and is now looking good for taking a swing trade in Equity or futures. It seems bullish as per chart and also RSI divergency is bullish also volumes are seems to be much bullish as they are much higher then past 90days. One can consider buying it now on CMP or on retracment if comes. It can be brought in futures and Equity both at your own risk. targets will be as per given in chart and stoploss will be below 720 on day closing basis. Happy investing....!! NOTE - THIS TRADE IDEA IS ONLY FOR EDUCATIONAL PURPOSE WE ARE/WOULD NOT BE RESPONSILE FOR ANY PROFIT OR LOSS
NSE:TATACONSUMLong
by Arshad_Khatib
Get the major levels through Pitchfork like a Pro!Hey everyone, My previous education idea on Fibonacci Retracement got some good response. Today, I’m back with another education idea, explaining an awesome tool called ‘Pitchfork’. Alan Andrew, the creator of Pitchfork tool, got inspiration from Roger Babson’s action reaction lines for the idea of this epic Pitchfork tool. Likewise, Roger also got inspired from Newton’s third law of Gravity, which is action-reaction theory. So, the main root for the idea of this pitchfork tool is Sir Isaac Newton. The pitchfork looks like the gardening/agricultural tool used for picking and throwing loose material. There is a usage of median as its primary support or resistance level. There are 4 types of pitchforks, i.e., Original, Schiff, Modified Schiff and Inside. We will discuss only about Original Pitchfork today, which is used in trending markets. The other types of Pitchforks are used in consolidation or reversal or trending markets too. Comment below if you want to learn about the other types of Pitchforks too. There are few trending ways of trading the breakout of Pitchfork, i.e, Price Failure Rule, Divergence, Mini-Median Line and many more. We will not focus on them right now. Do let me know if you want to try them too. How do I trade the Pitchfork levels? Currently I’m using the Original Pitchfork (for the trending market) with the median levels: 0.5, 1, 1.5, 2. The main median line is red. 0.5 and 1.5 lines are dashed. 1 and 2 are important median lines. Let’s start with the strategy. We shall start from higher timeframe first. I’m using daily timeframe. Here is how to draw it: I started to draw the Pitchfork from the first low (marked with ‘A’) of the current trend, then you shall click on the next high (marked with ‘B’), then the next low (marked with ‘C’). Do not forget to turn on the magnet, because every pip matters while drawing the Pitchfork. Now, you will get the levels to trade. We shall go to the lower timeframes now and check if it is in the same trend till the 15mins timeframe. You have to look for few confirmations on 1 and 4 hourly timeframes before taking the trade. These confirmations may be any candlestick pattern and try confirming with any good oscillator too. Remember, in the starting of a bullish market, you should always long your first 3 or 4 swing trades. Here are some of the observations: Prices will touch these median lines before making any move in 80% of the cases. There are 20% chances that prices might not touch the median levels due to sentiments. After touching any median line, price might want to reverse or pass by the median line. For confirming the reversal, you should look for any candlestick pattern and there should be overbought or oversold situation on your oscillator too. Do not take the trade if any one of them is not present on both 1 hourly and 4 hourly timeframes. The target will be the next median line upcoming in the direction of your trade. (For swing trade) For passing by a median line, price will take a pull back on the 15 minutes timeframe after passing by a median line, in most of the cases. It will always make a wick or some engulfing or doji candles there. These candles are the confirmation that you can trail your SL or get into the trade. Trust me, it is not as easy it looks on the higher timeframe. The main game is taking entry on the lower timeframes. Try back testing this strategy before using it. Always use proper risk management. Trade Safe!
NSE:BANKNIFTY1!Education
by theTAguy
13
big daddy - reliance futureshourly chart of reliance futures charts closed above 2398.50 which was a crucial level. another resistance is at 2480.85 so the trend of reliance changes at around 2500 after which the highs at 2850 could be tested. the chart not only broke the crucial level but also managed to cross over and close above the resistant trendline which wasn't broken since 21st October shows strength. Reliance might lead the up-move for nifty. *educational purpose only
NSE:RELIANCE1!Long
by virralthakkaar
daily chart of nifty futures*for education purpose only daily chart of nifty futures it is quite clear that the selling hadn't stopped until yesterday. the last candle made on 20th Dec 2021, yesterday looks like a sell zone. markets are opening with a big gap today but doesn't look like it will cross above 17300 zone and sustain there. I will not be changing my view of 1. sell on rise & 2. keep it intraday only till 17300 is crossed with strength. macd is weaker than ever. both, macd and signal is below zero and had a bearish crossover. rsi is below 50 and looks like a nose dive. cmp:- 16635.05 support:- 15524.00 resistance:- 17301.55
NSE:NIFTY1!Short
by virralthakkaar
Bharti Airtel - Bearish Bharti Airtel showed a very poor uptrend marred with volatility. This leads me to believe that the uptrend was in fact weak. Now there seems to be a change in polarity. Bharti Airtel took a confluence of resistance from the trend line and its previous resistance. Preferred trades: 720 CE short. But be careful, Bharti Airtel is known to bring nasty surprises. This is just a short-term trade, in fact, I'm super bullish on Bharti Airtel for the long term.
NSE:BHARTIARTLShort
by tanaynaff15
Nifty: The 2-3-5 Rule works it's magicNifty This is not a fresh recommendation - In our earlier post we had warned about trouble times for Nifty based on the chart set up - we had also highlighted the possibility of Nifty breaking Support line based on the 2-3-5 Rule ( in the 5th attempt, the chances of breaking the support line is higher) Well, 2-3-5 Rule works its magic... As it was the 5th attempt at the support line, we went with the rule and were aggressive on the shorts. Note Technical Analysis is one thing and trading is another. Although I was aggressive on the shorts, in the trade we had, there was still margin for being wrong We had 18400 Call short position at 120 which was squared off earlier around 27 and shifted our call short position to 18200 Call short around 70 Along with that we had bought 17900 Put Long at 150 (this cost was taken care of and covered with the premium we had received on overall Call Short position. We had received 163 points from the Call Short position. So even if Nifty expiry would have happened at 18200 we would have still made 13 points on the overall Nifty trade ) Partial profit booking for 17900 Put was done on Friday around 254 and today we have booked full profits at 336. CMP for the 17900 Put is 380. I could have waited and earned more but that's fine with me. I had an initial target of 330 when I entered the trade at 150 and I am more than happy to get what I have got. 18200 Call option Short sold at 70 CMP 4. Overall a good day to begin the week with.... Enjoy & Happy trading....!!! 🙂 Trust you have found the analysis helpful. Trade responsibly Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:NIFTY
by indiamarketoutlook
5
Nifty Caution: Danger ahead - Nifty could be attempting the Line of Support for the 5th time - the 2-3-5 Rule suggests not to Buy when it comes to the Line of Support for the 5th time. - Would it break??? Target for the setup in case we see a breakdown is mentioned in the chart. SL if the line of resistance is taken out ( red trendline) This is not an intraday view but more of a directional view in due course. Note our positions in Nifty has been taken earlier. You can go through my previous Nifty views to understand that part. Also, this is all about probability and not a necessity it would happen. So do follow your risk management measures. Trade accordingly. It's your money. Take decisions responsibly. Take care & safe trading...!!! Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:NIFTYShort
by indiamarketoutlook