Gapfill
TATASTEEL HIGH PROBABILITY SWINGAfter a long fall in metals , they are recovering fast!
Tatasteel has 2.80 percent gap made when it faced a big gap down. This gap can be exploited and easy profits can be made as the gap will surely be filled.
T1 is the main target in the trade and other targets can only be chased if the stock gives closing above T1 .
Mentorship InstaView 23 Aug’21: Frustrating Nifty View: A frustrating trading session for the benchmark Nifty index as it lost all of its opening gains and face high intraday volatility. The index seems to be at at crossroad wherein 16,500 acts as an important decider of momentum and sentiment. A break below today’s low of 16,390 will infuse fresh selling pressure, so stay cautious and try to trade less with strict risk management.
Thank you for following my work and please feel free to share your thoughts and suggestions.
Trade Well. Trade Wise.
SIYSIL Analysis | On demand of a follower :) ⭐A breakout on Month can be seen clearly if it sustains on these levels for Monday too :)
⭐Dynamic supports from 50 dema is been taken multiple times (once broken with a power candle = gap up next day above it )
⭐My calculated speculation is: a **close** above today's red candle with volume more than normal on 15min = a breakout from the pattern :), the risk gets minimal as u will exit the trade if it comes back to the triangle, then chances of manipulation increases and rewards = well if it sustains these lvls for the month than for upcoming days it might touch 362 lvls too, the time cant be predicated :)
⭐If someone takes the trade do see the Rsi too, if a close above the prev high takes place with RSI above 70 then trade will go smooth as a higher high on price with higher RSI will be made ( be careful with RSI divergence in such trades )
Nifty InstaView 20 May’21: GAP Gone. Trend Vulnerable.
Nifty View: A disappointing close for benchmark Nifty index in today’s trading session - down over 100 points to close the recent gap with which it had broken above 15K. The index is now back to the zone of (14,900-15,000) which earlier had acted as a strong zone of resistance and now we are expecting support. If this 100-point range holds, then there is a big chance of a bounce back and significantly higher upsides for the index. On the flip side, a confirmed close below 14,900 and we are back within the range of consolidation which will be marred by sharp volatility. It's been a completely stock specific market over the past two trading sessions and so strategically one should look to trade high-probability setups with a short term time frame in mind.
Thank you for following my work and please feel free to share your thoughts and suggestions.
Trade Well. Trade Wise.
IMPULSE + DOUBLE 3NIFTY HR TIME FRAME :
VIEW :
Since the end of January 2021 nifty was in uptrend and after in late mid February ;Nifty turned sideways. Recent up move showing positive market structure with "higher high"(HH) and "higher low"(HL) pivots. But these pivots are overlapping ;suggesting me to be cautious to take long position in nifty. But I still keep my bullish stance in Nifty.
Supporting Structure / Pattern /technical events :
# Impulse(motive cycle) + Double 3(corrective cycle);
# Confluence of 3 technical events suggesting a reasonable case for support in that zone where clearly mentioned in the chart.
Trading Plan:
For day traders >>
One can keep trading on the positive side as long as nifty continue to make HL-HH-HL structure till nifty continues its journey towards "KEY RESISTANCE" OR "DEMAND ZONE". But wait for breakout beyond "key resistance" to continue to trade on the positive side once nifty reaches that level.
For positional traders >>
PLAN A >>
As key invalidation point is much lower than the current price risk reward is not good at the present situation to take a long position .Even recent wave structure is not that supporting for positional opportunity. So better to go for long position as near as possible to key invalidation point if market continues its corrective cycle towards key invalidation point. One can use any confirmation methods(price action/indicator setup) to take an entry.
PLAN B >>
If nifty continues to move higher...wait for pullback after breaking above "wave x " for a low risk entry....where risk reward will be mouth watering...😍
Exit Strategy >> exit @ or near or in the target zone as shown in the chart.
Disclaimer: All the above views are being shared with the intention of sharing knowledge. Before acting on the views it is suggested to act as per one's risk appetite. Never risk more than 2% of one's capital.
BANKNIFTY | Small Cup & Handle inside the channelBANKNIFTY | Small Cup & Handle inside the channel - Looks good 1000+ points - Expecting the gap to be sealed
CMP : 35339
SL : 34950
Target : 36500
1:3+ risk reward setup
P.S : Vix is high, market is in consolidation mode so prefer to use spread.
Ex :
Buy 35500 CE
Sell 36500 CE (This would take care of the Time decay, Volatility crash of the option we buy so we dont lose entire premium)