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Cracking the Code: Unveiling BANKNIFTY's Present Echoing June 5,By Surendra Greetings, astute followers of the financial landscape. Today, let's embark on a journey that delves into the captivating parallels that have unfurled within the Indian equity market. As of August 26, 2023, we stand witness to a scenario that appears to mirror a pivotal day from the annals of history – June 5, 2013. Strap in as we dissect the tale of BANKNIFTY, its interconnectedness with the broader market, and the invaluable lessons history beckons us to learn. Deciphering the Dance between Nifty 50 and BANKNIFTY Our first port of call on this enlightening voyage is a fundamental assumption that's akin to a guiding star within the Indian stock market's cosmos. The banking sector's trajectory, as embodied by the BANKNIFTY, often dances in resonance with the movements of the Nifty 50 Index – a constellation of India's premier 50 companies. This unspoken correlation between these indices unveils a wealth of insights, akin to hidden gems within the market's labyrinth. Nifty 50's Ripples and Sectoral Echoes Picture this: a giant – the Nifty 50 Index – teetering on a precipice, encircled by eager sellers vying to tilt the balance. The implications, however, transcend this singular entity. The tremors unleashed here send seismic waves coursing through the sectors, each swayed by the same tide. This dynamic underscores the domino effect, where the fate of one index orchestrates the rhythm of the broader ensemble. Déjà Vu: June 5, 2013, and the Present Parallels Have you ever experienced that uncanny sense of déjà vu, where the present feels eerily reminiscent of the past? In the theatre of finance, such a phenomenon is unfolding before our eyes. Transport yourself to the canvas of June 5, 2013 – an epochal date etched in market chronicles. Fast-forward to the present, and history's echo resounds as we observe the emergence of a foreboding head and shoulder pattern within BANKNIFTY's price dynamics. This motif, much like a crescendo in a symphony, often signifies an impending transition from an upward trajectory to a downward trajectory. Unveiling the Enigma of the Current Banking Sector Shifting our gaze to the banking sector, the pulsating heart of economic machinations, a tapestry of signs and signals unveils a picture akin to that of 2013. Within this intricate weave lies the testimony of a sector grappling with recessionary undertones. Strains in liquidity and financial flux mirror the strains of yore, painting a canvas of financial stress. Chess Moves of Investors, the Symphony of Corrections, and the Battleground of the Job Market Imagine a grand chessboard, where investors, the players, maneuver their pieces with prudence. Presently, these seasoned strategists are relinquishing some of their positions, perceiving the signs that precede a market shift. Throughout history, this retreat has often presaged impending corrections. Brace for impact – a correction may well be knocking on the market's door. To add to the complexity, this period of correction might usher in a consolidation phase – a lull before the next crescendo. Yet, the narrative extends beyond trading terminals. Much like ripples extending outward from a stone cast into a pond, the banking sector's tribulations could cascade into the job market. A scenario reminiscent of 2013 looms, where jobs become battlegrounds as the economic turbulence plays out. Final Thought: Guiding our Way with the Torch of History In conclusion, the tapestry of BANKNIFTY's current state weaves itself into the tapestry of June 5, 2013. The intricate interplay between Nifty 50's struggles and the destiny of BANKNIFTY serves as an invaluable compass through the market's labyrinth. As we navigate these dynamic waters, be prepared for the fluctuations of correction and the tranquility of consolidation that may shape our investment voyage. Remember, the echoes of history can illuminate our path as we navigate uncharted waters. Stay curious, stay vigilant, and let the lessons of the past steer us towards informed decisions.
NSE:BANKNIFTY
by surendrachoudhary628
2
BALAJITELE BALAJITELE :- The stock has given a breakout, you can plan something if you come for retesting. Hello traders, As always, simple and neat charts so everyone can understand and not make it too complicated. rest details mentioned in the chart. will be posting more such ideas like this. Until that, like share and follow :) check my other ideas to get to know about all the successful trades based on price action. Thanks, Ajay. keep learning and keep earning.
NSE:BALAJITELELong
by AjayDhakad_Keep_it_simple
BAJAJHIND BAJAJHIND :- Stock is going to give breakout after 9 years, wait for breakout, plan with strict stop/loss if you do Hello traders, As always, simple and neat charts so everyone can understand and not make it too complicated. rest details mentioned in the chart. will be posting more such ideas like this. Until that, like share and follow :) check my other ideas to get to know about all the successful trades based on price action. Thanks, Ajay. keep learning and keep earning.
NSE:BAJAJHINDLong
by AjayDhakad_Keep_it_simple
AMBER AMBER :- The stock has given a breakout after 1 year, if the breakout sustains, we may see an upside movement. Hello traders, As always, simple and neat charts so everyone can understand and not make it too complicated. rest details mentioned in the chart. will be posting more such ideas like this. Until that, like share and follow :) check my other ideas to get to know about all the successful trades based on price action. Thanks, Ajay. keep learning and keep earning.
NSE:AMBERLong
by AjayDhakad_Keep_it_simple
1
PNCINFRAPNCINFRA:- Stock is moving in parallel channel, about to give breakout, keep your eye on alert Hello traders, As always, simple and neat charts so everyone can understand and not make it too complicated. rest details mentioned in the chart. will be posting more such ideas like this. Until that, like share and follow :) check my other ideas to get to know about all the successful trades based on price action. Thanks, Ajay. keep learning and keep earning.
NSE:NCCLong
by AjayDhakad_Keep_it_simple
2
BOMDYEINGBOMDYEING:- Breakout is going to give after 4 years, wait for breakout and plan something only after that. Hello traders, As always, simple and neat charts so everyone can understand and not make it too complicated. rest details mentioned in the chart. will be posting more such ideas like this. Until that, like share and follow :) check my other ideas to get to know about all the successful trades based on price action. Thanks, Ajay. keep learning and keep earning.
NSE:BOMDYEINGLong
by AjayDhakad_Keep_it_simple
INDIACEMINDIACEM:- Cup and handle pattern has been formed, breakout has also been given, if the price sustains the upside, we may see upside movement Hello traders, As always, simple and neat charts so everyone can understand and not make it too complicated. rest details mentioned in the chart. will be posting more such ideas like this. Until that, like share and follow :) check my other ideas to get to know about all the successful trades based on price action. Thanks, Ajay. keep learning and keep earning.
NSE:INDIACEMLong
by AjayDhakad_Keep_it_simple
TV18BRDCSTTV18BRDCST :- Head and shoulder pattern has formed, breakout has also given, keep an eye on the stock Hello traders, As always, simple and neat charts so everyone can understand and not make it too complicated. rest details mentioned in the chart. will be posting more such ideas like this. Until that, like share and follow :) check my other ideas to get to know about all the successful trades based on price action. Thanks, Ajay. keep learning and keep earning.
TLong
by AjayDhakad_Keep_it_simple
Significant breakout in JTL IND.Happy Friendship day to all my fellow Traders! -> As already Explained from chart JTL INDUSTRIES has given a remarkable symmetrical tringle breakout. -> Since 8 months It was in consolidation phase forming a beautiful tringle pattern. -> After successful breakout it has retraced back to its breakout point multiple times and started accumulating, Then again in a last trading day it made a fairly big green engulfing candle which covered its all previous candles. That made this pattern more efficient and more convincing. ->In the latest quarterly earnings report, the stock did really well. Please have a look at its 10 years financial data. Pros. *PE- 32 *ROCE- 37.6 % *Reduced debt. *Profit grew 62.5% annually for 5 years. *Strong 34.5% ROE over 3 years. *Improved debtor days from 49.5 to 32.9. *Consistent 22.6% median sales growth over 10 years. Cons. *Over the last 3 years Promotor holding has reduced by 15.7%. *Company still falls under small caps that makes it a bit volatile. (But overall its growth looks promising in a long run.) ->Now this stock is ready to be traded/Invested, one can put stoploss of 370 and go further depending upon the patience level. But anyone who is convinced in its long turn growth then they can invest more when it gives a pull back. Do consider pressing the boost button🚀🚀, It helps me bring more interesting analysis. And if you've any question and suggestion please feel free to post in comment section. Note I am not SEBI registered. Do your own before investing.
NSE:JTLIND
by BullishLine
IDFC First Bank Shines with Excellent Q1 Performance.IDFC First Q1 Result. Impressive performance across the board! Deposits up 44% YoY, Advances up 25% YoY, Profits up 61% YoY. Net NPA down to 0.7% (Which is very good indication). ROA at 1.24% vs 0.97% YoY. QoQ net income down -731 Cr. vs 816 Cr. in Q4FY23, but excluding a one-off income of 180-200 cr. from the last quarter, results are still better on a QoQ basis. Why to Invest in IDFC first ? They are many reasons to invest in IDFC Bank, but trading in this company seems risky and tricky right now. However, if you are someone who believes in the narrative that for India to grow, the banking sector would have to follow the same path, then undervalued and growing banks will benefit the most. Stocks like IDFC First Bank are more likely to double their Market Cap. So, if you are a long-term and serious investor like me, this analysis will help you. Why to Avoid Trading ? Now, let's discuss why trading this stock is currently considerably risky. The stock is trading near 200% of its support level, following a special channel pattern known as a big-length rectangle pattern, which makes it riskier from a trading perspective. How to Invest ? We plan to take a longer position in this stock. As visible from the chart, the stock has tested its resistance on a weekly timeframe. As, we all know Q1 results are out, Earnings have been impressive, indicating a potential strong breakout with good volume. If that happens, we'll invest half of our money and wait for a retracement before putting in the rest. But, if the stock falls instead of breaking out, it'll be a great opportunity to invest, and in that case, we'll wait for a consolidation. Note- I am not a SEBI registered, Please consult to your Advisor before investing.
NSE:IDFCFIRSTBLong
by BullishLine
Abbott India is gearing up to give Breakout.Company's Overview. Abbott India Ltd is one of the market leader and multinational pharmaceutical company in India with a global presence in over 160 countries. It has a legacy of more than 130 years in the industry. Revenue Breakup. In FY22, injectables contributed around 40% of the revenues, followed by tablets at 39%, liquids at approximately 16%, capsules at 3%, and other products at 2%. Financials. >>Almost debt free company. >>ROCE- 41.1%, Which is considered to be an excellent return. >>Good growth can be seen in net profit margin. >>Maintaining a healthy dividend payout of 76.8%. Technical. As we have seen Last week, all chemical stocks had a good rally. It looks like this rally will continue further. So we will keep a close track on this stock because it still falls under one of the undervalued stock category. This stock was consolidating within an uptrend parallel channel. Last week, it closed near its resistance level. If it breaks out with a big candle and significant volume, we can enter the trade. We'll use a 1:1 risk-reward management strategy for this trade as explained in chart. This is my Analysis, I might be wrong sometimes Please do your 'own' due diligence before taking trades.
NSE:ABBOTINDIA
by BullishLine
SHYAMMETLSHYAMMETL:- Wait for the breakout, if it gives breakout and sustains then we can see upside movement Hello traders, As always, simple and neat charts so everyone can understand and not make it too complicated. rest details mentioned in the chart. will be posting more such ideas like this. Until that, like share and follow :) check my other ideas to get to know about all the successful trades based on price action. Thanks, Ajay. keep learning and keep earning.
NSE:SHYAMMETLLong
by AjayDhakad_Keep_it_simple
NATCOPHARMNATCOPHARM:- Stock has given strong breakout, if stock comes back for retesting then you can plan something Hello traders, As always, simple and neat charts so everyone can understand and not make it too complicated. rest details mentioned in the chart. will be posting more such ideas like this. Until that, like share and follow :) check my other ideas to get to know about all the successful trades based on price action. Thanks, Ajay. keep learning and keep earning.
NSE:NATCOPHARMLong
by AjayDhakad_Keep_it_simple