Oppurtunity : Bank Nifty AnalysisLooks like buyers have hold the day from falling also have positive closing if same continue in morning may be tomorrow buyers can dominate as per trend if breaks with volume 48300.
Also a round number zone so avoids false breakouts and traps at this levels.
resistance 48300
support 48000
Note : Make your own analysis before making any trading decision.
Futuresmarket
ABFRL SWING LONG1. A major trend line breakout happend 6 weeks back, after that continuously in a strong uptrend.
2. On 2nd November it breaks its all time high of 281.35 and closed at 288.10 with a strong bullish candle of 6.23%.
3. Today stock pickups the momentum after the successful retest over the level of 281.25
Details :
Buy range : 296-306
Stoploss : 275
Target : 396 ( fibonacci 1.618 level ), 30% .
Short term targets are 331 ( 8.5% ) and 358 (17%).
For mid to long term a good entry will be after a pullback , when it took a support over 20 EMA.
Disclaimer : This analysis/strategy is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
COFFEE - Wide Awake Hi all,
I am here again to give you something valuable:)
Observed the coffee future chart which is trading in the multi year resistance zone. This is the fourth time now that it is into that zone and owing to increase in the prices of other commodities it may break the resistance this time.
Stocks of FMCG segment will benefit from it. One stock which I see benefitting from it is TATA COFFEE. I will post the chart of it soon, till then do your own due diligence.
Happy Learning!