Try to short (downtrend & correction not yet done in the weekly chart)
4.The gap can act as a resistance
6.possible reversal zone
7.Banking sector looking weak(like high weightage stock like HDFC bank, ICICI bank.....
Disclaimer: Please consult your financial advisor,
Nifty could open gap up and try 15044. if crossed and sustain we can see 15100-15133.
High chances to open gap up & fill the GAP
Dtd 10th May 2021 : TheCharts
No Trading Zone between 14851-14766
Resistance 14953, 15044
Hope, Everyone made a good profit today.
You see that there is a gap that Nifty Filled and then reverse.
So for Tomorrow there is a simple Strategy.
If a Nifty go upside above 14700 we will buy CE 14900.
If a Nifty goes down below 14480, we will buy PE 14400
In Gap up or Gap down Opening, we will wait for the right time to trade.
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Taking support around 355-357 (50 Day EMA)
also filled gap at 355
Buy above 365
Target- 385, 408, 427
Disclaimer- We are not SEBI registered advisor.
Charts and views are only for educational purpose.
NIFTY HR TIME FRAME :
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...
This is purely for educational purpose only, trading gaps are high risk high reward.
It gives us a reason why a particular stock/index bounced from a particular price.
If you think any gap in Day TF is imp. just mark it and see how it goes before trading them.
Due to the earnings declaration the prices were hammered, and hence was opened as gapped down,
Reasons For Selecting:-
1.Trendline acting as a support
2.Stock respecting Fibo levels
3.Double bottom pattern
placing a stop-loss @ 375,
Followed by the Targets 1 & 2
BANKNIFTY | 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.
Buy 35500 CE
Sell 36500 CE (This would take care of the Time decay, Volatility crash of the option we buy so...
As shown on the chart, the double top pattern has occurred 3 times in the recent few months. Each time, the market has corrected significantly.
The entire second week of February, Nifty has been moving in a tight 200 point range, with buying coming at 15000 levels and strong selling at 15,250 levels. With the current levels of volatility and narrow contracting...