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NIFTY50 - A RETRACEMENT IS EXPECTED BEFORE FURTHER FALLSymbol - Nifty50 CMP - 23772 The Nifty50 continues to trade within a falling channel pattern, indicating a bearish technical structure. Currently, the index is testing key support levels near 22800-22700, which were identified as critical support zones in the previous analysis. Given the strong & key support area at these levels, there is a high likelihood of a short-term bounce before the continuation of the downtrend. As of now, Nifty is encountering support around the 22800-22700 region, and I expect a potential retracement towards the 23170-23200 and 23420 levels before the downtrend continues. These levels are supported by the retracement nature of the fall, providing a good opportunity to enter long positions with favorable risk-reward at current price. When Nifty was around 23720, I shared my short trade plan on Nifty, anticipating a 700-1000 point fall, with expectations for Nifty to test the 23000 and 22800 areas again. That fall has now played out, and we successfully captured a strong down move. As Nifty is trading at key support levels once again, I am anticipating a bounce from here before the downtrend resumes. Given the current technical setup, long positions can be initiated around current prices, with additional positions being added towards the 22680-22650 area. A stop-loss should be placed below 22600. I expect a retracement of this fall, which could push Nifty to the 23170-23200 range and then 23420 levels. The risk-reward at these levels is favorable for long positions. However, my overall outlook remains bearish, and I expect the downtrend to continue after Nifty touches the 23400 zone. Key resistance levels remain around 23700-23850. Any sustained move above this range could signal a shift from a downtrend to a sideways or even bullish trend. Until then, the preferred strategy will be to sell at resistance zones and buy at key support levels for a retracement. Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
NSE:NIFTYLong
by akshit_official
6
3M India (3MINDIA) - Double Top Confirmed3M India (3MINDIA) weekly chart analysis reveals a confirmed double top pattern and a breakdown below the trendline and 200-week EMA. This suggests a potential move down to the key support zone around 16,000-18,000. I've highlighted the key levels to watch. A short trade opportunity may arise on a pullback. Let me know your thoughts in the comments! Also long term investors, could deploy their capital in trenches till the support zone or wait for the reversal to invest at once. Disclaimer: This analysis is for informational and educational purposes only. It is not financial advice. Trading involves risk, and you could lose money. Past performance is not indicative of future results. Always do your own research and consult with a qualified financial advisor before making any investment decisions.
NSE:3MINDIAShort
by PhD_Swingtrader
MANAPPURAM FINANCE LTD - APPROACHING RESISTANCE AREASymbol - MANAPPURAM Manappuram Finance Ltd. has been experiencing a recovery from lower levels in recent weeks. The stock has bounced back from support zones and is now testing key resistance areas. However, it faces considerable challenges at higher levels, showing signs of consolidation as it approaches its resistance zones. The overall trend appears to be in recovery, following a significant dip. However, the stock is facing resistance at higher levels, indicating a potential pause or consolidation before any significant movement. Short-term trend looks slightly bearish, as the stock has encountered selling pressure at resistance levels and is currently consolidating. Long-term trend remains positive, driven by the company’s strong fundamentals in the gold loan market. The stock is currently trading within an ascending triangle pattern and is consolidating near key resistance levels. My personal bias is towards the downside, and we could potentially see a sell-off from the resistance zone towards the triangle support trendline, with the possibility of a move below it. The trade strategy could involve looking for short opportunities near the resistance zone, especially if the stock fails to break out and begins to reverse. However, if the stock manages to break above the resistance trendline of the ascending triangle, the bias would shift to the upside. Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
NSE:MANAPPURAMShort
by akshit_official
MAHINDRA & MAHINDRA - BEARISH PRICE ACTION AT RESISTANCE ZONESymbol - M&M CMP - 3218 Mahindra & Mahindra Ltd. has been witnessing a recovery in recent weeks after facing a significant decline. The stock has shown strength by bouncing back from key support zones and is now encountering key resistance levels. However, it faces challenges at higher levels, and we are starting to see signs of consolidation & bearish price action as it tests these resistance zones. The overall trend appears to be on a recovery path, following a steep drop. But at these higher levels, the stock faces resistance, suggesting a possible pause or consolidation before any significant movement in either direction. In the short term, the trend is slightly bearish. The stock has encountered some selling pressure & is forming bearish candlesticks as it nears its resistance levels, and it's currently consolidating. In the long term, the trend remains positive, backed by the company’s strong fundamentals, especially in the automotive and farm equipment sectors. Currently, the stock is trading within a range with visible selling pressure near a resistance zone, indicating a consolidation phase. My bias leans towards the downside in the short term, and we could see a pullback from the resistance level towards the support trendline, with the possibility of further declines. For traders, the strategy could involve looking for short opportunities near the resistance zone, particularly if the stock fails to break out above this level and begins reversing. However, if the stock manages to break through the resistance and shows sustained momentum, the bias could shift to the upside, and long positions might be considered. Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis. You can track it for educational purposes. Thanks!
NSE:M&MShort
by akshit_official
2
BULL FLAG FORMATION IN ADANI GREEN ENERGY - SWING TRADESymbol - ADANIGREEN CMP 988 Adani Green Energy Limited, incorporated in 2015, is a holding company of several subsidiaries carrying business of renewable power generation within the group and is primarily involved in renewable power generation and other ancillary activities. In Adani Green Energy, a bullish flag formation has developed. A breakout from this formation is expected to drive the price towards 1240, representing an approximate upside of 26% from the current level. I am initiating a long position in the Futures at the current market price 988 Additionally, I plan to increase my position near the 970-965 price range and will maintain the long position with a stop loss at 938 Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
NSE:ADANIGREENLong
by akshit_official
BANDHAN BANK - DOUBLE BOTTOM IN FORMATIONSymbol - BANDHAN BANK CMP - 151.12 Incorporated in 2014, Bandhan Bank is a commercial bank focused on serving underbanked and underpenetrated markets in India. The company has a PAN-India presence and offers a wide range of banking products & services and asset & liability products and services designed for micro banking and general banking. A double bottom pattern is currently in formation, and the price is undergoing a consolidation phase. At this juncture, the key level of focus is 154, which represents the breakout zone for this consolidation (Buy Trigger). If the price successfully sustains above this level, a potential upward move towards 168 can be anticipated. Therefore, I intend to initiate long position in Futures at the buy trigger level. Additionally, I plan to add more position around 150 level and will hold long position with a stop loss at 144. The target for this trade is 168, which implies an expected upside of approximately 8.40% from the entry point. Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
NSE:BANDHANBNKLong
by akshit_official
Nifty Trading Strategy for 26th December 2024Nifty Trading Strategy Key Levels: Buy Above: The high of the 15-minute candle that closes above 23,780 Sell Below: The low of the 15-minute candle that closes below 23,675 Targets: Upside Targets: 23,825, 23,868, 23,920 Downside Targets: 23,640, 23,580, 23,550 Strategy Details: Buy Signal: Enter a buy position above the high of the 15-minute candle that closes above 23,780, aiming for targets of 23,825, 23,868, and 23,920. Sell Signal: Enter a sell position below the low of the 15-minute candle that closes below 23,675, aiming for targets of 23,640, 23,580, and 23,550. Trailing Stop-Loss: Use a trailing stop-loss to manage risk and protect your capital. Book Profits: Regularly book profits at the specified resistance and support levels. Disclaimer: I am Not SEBI Registered. This strategy is based on historical data and technical analysis. Past performance is not indicative of future results. Trading involves risk, and you should only invest money that you can afford to lose. Always conduct your own research or consult with a financial advisor before making any trading decisions.This only for Educational Purpose.
NSE:NIFTY
by ramkkyy
Nifty Trading Strategy for 03rd December 2024Nifty Trading Strategy Buy Strategy: Condition: Look for the price of Nifty to close above 24306 on a 15-minute candle. Entry Point: Identify the high of the candle that closes above 24306. Action: Place a buy order above this high once the 15-minute candle has closed above 24306. This confirms that the market is trending upward and you’re looking to ride the momentum. Sell Strategy: Condition: Look for the price of Nifty to close below 24120 on a 15-minute candle. Entry Point: Identify the low of the candle that closes below 24120. Action: Place a sell order below this low once the 15-minute candle has closed below 24120. This confirms a downward trend, signaling a bearish market. Current Price: The current price of Nifty is 24276. Disclaimer: This strategy is for informational purposes only and should not be considered financial advice. Trading involves risk, and you should do your own research or consult with a financial advisor before making any investment decisions. I am not SEBI registered.
NSE:NIFTY
by ramkkyy
Nifty Trading Strategy for 19th November 2024Detailed Nifty Spot Trading Strategy Trading Plan: Buy Above 23,625 Wait for the Nifty Spot Index to close above 23,625 on a 15-minute candle. After confirmation, initiate a BUY position. Target Levels: Target 1: 23,700 Target 2: 23,750 Sell Below 23,350 Wait for the Nifty Spot Index to close below 23,350 on a 15-minute candle. After confirmation, initiate a SELL position. Target Levels: Target 1: 23,298 Target 2: 23,100 Current Value: Nifty Spot Index: 23,454 Support and Resistance Levels: Supports: 23,298: Key level where buying interest might emerge. 23,100: Strong support zone that could hold in case of heavy selling pressure. Resistances: 23,700: Initial hurdle for the upward move. 23,750: Major resistance level, likely to cap any strong bullish momentum. Key Notes for Traders: Use these levels as a reference for trading Nifty Futures and Options. Ensure to confirm the breakout or breakdown of the above levels using a 15-minute candle close for better accuracy. Book Profits at regular intervals and use trailing stoploss. Disclaimer: I am not SEBI Registered. This trading strategy is for educational purposes only and should not be considered as financial advice. Trading in financial markets involves significant risk and may result in substantial losses. It is important to conduct your own analysis and consult with your financial advisor before making any trading decisions. These levels are derived from the Nifty Spot Index, but traders can apply them to Nifty Futures and Options trading. Past performance is not a guarantee of future results. Use proper risk management techniques and trade responsibly.
NSE:NIFTY
by ramkkyy
MCX COTTON CANDY - TRADE IDEA ON LONG SIDESymbol - COTTONCNDY1! COTTONCNDY1! is currently trading at 55800 I'm seeing a trading opportunity on buy side. Buying COTTONCNDY1! Futures at CMP 55800 I will add more quantity at 55000, If comes. Holding with SL 54200 Targets I'm expecting are 57150 - 58200 & 59200 Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
MCX:COTTONCNDY1!Long
by akshit_official
2
HEAD & SHOULDERS PATTERN IN NIFTY. TIME TO SELL AGAIN ?Symbol - NIFTY50 CMP 24800 Nifty50 has turned its trend from bullish to bearish & sideways making lows - lows on daily time frame. We can see a Head & Shoulders pattern getting formed on daily TF in Nifty. Such patterns on larger time frame don't usually fail. Nifty is currently trading near neckline of this pattern. Breakdown & sustaining below this neckline zone 24730 - 24690 will get this pattern activated & we can see big target towards downside. Target on downside can be 23370 P.S. : My short position is already active from 25000 Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
NSE:NIFTYShort
by akshit_official
14
Nifty for muhurat Trading 01.11.2024Nifty 50 Analysis: Buy Above 24,360 / Sell Below 24,150 Current Price: 24,206.00 Support Levels: 24,100, 24,000 Resistance Levels: 24,500, 24,600 Key Points: The Nifty 50 index is currently consolidating within a range of 24,100 to 24,500. A decisive breakout above 24,500 could signal further bullish momentum, potentially driving the index towards 24,600 and beyond. Conversely, if the index falls below 24,150, it may indicate a bearish trend, with potential targets at 24,000 and lower. Recommendations: Buy: If the Nifty 50 index sustains above 24,360, consider entering long positions with targets at 24,440, 24,600 and 24,740. Sell: If the index breaks below 24,150, consider short positions with targets at 24,000 and 23,900.
NSE:NIFTY
by ramkkyy