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Simple Trade Setup | HDFC | 11-08-2021NSE:HDFC Simple Trade setup with levels for HDFC on 11-08-2021. Levels and chart is easy to understand. Based on your skills and experience you can take trade on either side. If you are beginner then better to go with safe trade on breakout or breakdown of levels. Further on daily time frame, it has tested it's previous resistance as well as breakout level of 2635 and took good support on 10-08-2021. Please refer below daily time frame chart. My personal view is bullish. Hope I make it easy to understand trade levels and setup. Do comment your doubt or suggestion. all the best
HLong
by Trading_hawk
9
Global cues forced Nifty to end below 16300NIFTY 50 EOD ANALYSIS -10-08-21 IN SUMMARY Open / High / Low / Close 16274.8 / 16359.25 / 16202.25 / 16228.10 Trading Range Low to High: 141 points Likely Max Realistic Opportunity @ 50%: 70.5 points India VIX: 12.71 / +0.79% FII DII activities: +511 Crores CHART BASED CONCLUSIONS Nifty made a higher and a higher low. This higher high was in terms of the ATH level of Nifty which was hit before 1100h. The not so encouraging European markets forced Nifty to end below 16300. Once again, Nifty has closed just around the open price and has formed another Doji pattern. TOP LOSERS CONTRIBUTING TO NIFTY FALL 5 scrips were responsible for dragging Nifty down by at least 105 points. These were: JSW STEEL SHREE CEMENT ITC BAJAJ FINSERV TATA STEEL TOP GAINERS CONTRIBUTING TO NIFTY BEING ABLE TO CLOSE IN GREEN Together these 5 contributed a gain of 105 points: HDFC INFOSYS RELIANCE BHARTI AIRTEL KOTAK BANK This is a great coincidence! Both the sides contributed 105 points on either side and this explains the Doji! POSITIVES Nifty ended above the open price. FII - DII net numbers are positive. HDFC BANK closed above 1500 for the second day. HDFC closed above the hard resistance of 2660. BANK NIFTY closed yet again above 36000. NEGATIVES MARUTI and TATA MOTORS remained under pressure after the morning spike on the way up. SBIN is still under pressure which is putting both the indices under pressure. 16300 appears to be a tough one even after HDFC twins have recovered from the slumber. RELIANCE was unable to hold on to 2100+ levels. TRADING RANGE FOR W/B 11-8-21 Nifty broad range for the week 16000-16500. As of now, it has not made any significant movement from where one could derive the likely supports and resistances. BANK NIFTY support base at 35200-600 and resistance at 36200-36500. INSIGHT / OBSERVATIONS When the price remains around the same number and the buyer's increases, it signals an upward move in the prices. This is what we have learned as one of the basic principles of demand and supply. If we club the Net FII DII of yesterday and today, it is just +6 Crores and a slightly higher close. This is quite an interesting situation to have and I would seek input from the readers if they have encountered such situations in the past. It appeared that in the closing minutes, Nifty moves were managed to close it near flat in line with the global cues. Thank you, and Happy Money Making! Umesh 10-8-21 P.S. If you choose to comment on the above, please do so with your analytical view rather than merely passing a comment. Your presentation of the view held by you would help other readers as well. NOTE -- This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title, as well as its contents, can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right.
NSE:NIFTY
by AVENUESOFINVESTMENT
Nifty ends almost flat after failing to hold 16300NIFTY 50 EOD ANALYSIS -09-08-21 IN SUMMARY Open / High / Low / Close 16281.35 / 16320.75 / 16179.05 / 16258.25 Trading Range Low to High: 141 points Likely Max Realistic Opportunity @ 50%: 70.5 points India VIX: 12.61 / --0.00% FII DII activities: -505 Crores CHART BASED CONCLUSIONS Nifty made a slightly lower high and broke 16200 to make a lower low. It ended mildly positive which is comforting after it retested the opening low made on 4-8-21. 16300+ appears to be an issue for now as it could not clear the earlier high as well. Even though Nifty bounced back from the lows smartly, it ended the day with a Doji candle signaling indecisiveness which is confirmed by the fact that HDFC BANK struggled to hold 1500 levels and RELIANCE is unable to decide which way to go. Note: From today, I am switching over to an improved way of recording my analysis. As such instead of the Top 3 Gainers / Losers, I will state the top scrips that helped Nifty go up / down. Hope this helps. TOP LOSERS CONTRIBUTING TO NIFTY FALL 5 scrips were responsible for dragging Nifty down by at least 45 points. These were: RELIANCE JSW STEEL ADANI PORTS BAJAJ FINANCE LT TOP GAINERS CONTRIBUTING TO NIFTY BEING ABLE TO CLOSE IN GREEN Together these 5 contributed a gain of 77 points: HDFC BANK INFOSYS BAJAJ FINSERV ICICI BANK AXIS BANK So Nifty ended in +20 and this is how it was able to do so: Top 5 Lifters 77 Top 5 Draggers 45 Net 32 POSITIVES Nifty ended above 16250. FIIs have turned Net buyers even though in small numbers. HDFC BANK closed above 1500 for the first time after 16-7-21. It was ably supported by ICICI BANK, INFOSYS & AXIS BANK. BANK NIFTY closed above 36000. NEGATIVES RELIANCE made a quick dash to the 2065-70 area and is still below the crucial resistance line of 2080. SBIN is still under pressure possibly on account of the Vodafone exposure issue. 16300 appears to be a tough one to crack without the support of HDFC and RELIANCE. TRADING RANGE FOR W/B 10-8-21 Nifty broad range for the week 16000-16500. As of now, it has not made any significant movement from where one could derive the likely supports and resistances. BANK NIFTY support base at 35200-600 and resistance at 36200-36500. INSIGHT / OBSERVATIONS While MARUTI and TATA MOTORS were under selling pressure after hitting higher levels in the AM session, M&M has managed to hold on to higher levels and is doing well. It is quite an unusual situation to experience. What do you think could be the reason? Thank you, and Happy Money Making! Umesh 9-8-21 P.S. If you choose to comment on the above, please do so with your analytical view rather than merely passing a comment. Your presentation of the view held by you would help other readers as well. NOTE -- This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title as well as its contents can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right.
NSE:NIFTY
by AVENUESOFINVESTMENT
Nifty respects 16350 resistance and ends close to day lowNIFTY 50 EOD ANALYSIS -06-08-21 IN SUMMARY Open / High / Low / Close 16304.4 / 16336.75 / 16223.3 / 16238.2 Trading Range Low to High: 139 points Likely Max Realistic Opportunity @ 50%: 69.5 points India VIX: 12.61 / --2.02% FII DII activities: -680 Crores CHART BASED CONCLUSIONS Nifty made a slightly higher low but a slightly lower high. This is indicating indecisiveness on how far it can go up as there was no attempt to retest the ATH today. After the opening gap-up, Nifty did not recover and kept drifting down especially after RELIANCE tanked more than 2% upon losing case against Amazon in the SC. Nifty barely managed to end the day a few points above the day low. Though on the daily charts, it looks as if it is likely to come down further, on the weekly charts, Nifty is looking well poised for a move upwards as the momentum is picking up and the RSI has some headroom for bullish moves. TOP 6 LOSERS CIPLA is # 1 and SHREE CEMENTS is # 3 and ULTRA TECH # 4. But the real problem lies in the heavyweights occupying the other spots. RELIANCE -2.12% SBIN -1.4% HDFC -1.26% When these 3 are combined, one imagines the plight of Nifty so today’s losers area is differently covered. TOP 3 GAINERS Likewise, in this area, INDUSIND BANK +3.19% ADANI PORTS +2.47% IOC +1.88% Are the leaders, however, Nifty was saved for the day by the following heavyweights TECH M +1.31% MARUTI +1.04% TCS +0.79% HUL +0.59% HDFC BANK +0.53% The positivity of HDFC BANK, as well as KOTAK BANK, ensured that BANK NIFTY did not go down much which helped prevent further slide and a possible sell off in Nifty. POSITIVES 16200 level held for the day as well as the week. HDFC BANK, KOTAK BANK, MARUTI, and TCS holding the fort amidst pressure from other biggies. BANK NIFTY maintained composure despite SBIN leading the losers’ pack. NEGATIVES SBIN continues to be under pressure possibly on account of exposure to Vodafone Idea. RELIANCE slipped back in the sideways zone just as it was attempting to break past the high of yesterday. The fall was sharp and severe which changed the market sentiment. FIIs DIIs are net sellers of 680 Crores. TRADING RANGE FOR W/B 9-8-21 Nifty broad range for the week 16000-16500. As of now, it has not made any significant movement from where one could derive the likely supports and resistances. BANK NIFTY support base at 35200-600 and resistance at 36200-36500. INSIGHT / OBSERVATIONS RBI policy has become a non-event. There is hype but that is all. Despite VIX falling, Nifty moves were choppy. This possibly indicates that the overall trend is likely to be intact and the intraday moves could be choppy when news-driven scrips make moves. HDFC BANK was raring to close past 1500 but peer pressure prevented it from doing so. It is now above the 50 DMA which is a good sign. Are scrips like RELIANCE worth trading? If a major scrip can slip on account of the SC verdict, is it really a solid scrip? Or all this is just done by those who have the power to sell off and a premonition about the likely verdict. Should SEBI not look into such matters? What do you think? Thank you, and Happy Money Making! Umesh 6-8-21 P.S. If you choose to comment on the above, please do so with your analytical view rather than merely passing a comment. Your presentation of the view held by you would help other readers as well. NOTE -- This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title, as well as its contents, can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right.
NSE:NIFTY
by AVENUESOFINVESTMENT
Bank Nifty weightlifts Nifty Past 16250NIFTY 50 EOD ANALYSIS -04-08-21 IN SUMMARY Open / High / Low / Close 16195.25 / 16290.25 / 16176.15 / 16258.8 Trading Range Low to High: 114 points Likely Max Realistic Opportunity @ 50%: 57 points India VIX: 13. / --3.93% FII DII activities: +2417 Crores CHART BASED CONCLUSIONS Nifty made yet another gap-up opening and yet another ATH close. It faced the first resistance below 16300 so for tomorrow’s expiry, this level may act as the resistance as well. Nifty movement appears choppy on the 5-minute chart as kept moving up and down after 1100h. Tomorrow’s expiry may decide the next course of action for Nifty - above 16300 or yet another series of range-bound moves. TOP 3 LOSERS GRASIM - Earlier ATH level resistance was faced and the candle slipped below its 20 DMA and could barely close above the line. Interestingly, the 20, as well as 50 DMA lines, are moving very close to the Priceline. TITAN - Profit booking at higher levels may have brought this down though the volume is low and the daily RSI is still bullish. TATA MOTORS - After a gap-up open above the 20 DMA line, it failed to hold on to the selling pressure and closed below the line and below 300 as well. Wait and watch for now as even MARUTI was down today. TOP 3 GAINERS HDFC - The giant roared again and in a royal style. In 6 sessions, the scrip is up 11.5% and has single-handedly managed to lift Nifty from out of the non-Bank Nifty heavyweights. It is now approaching 2700 resistance and if it clears that, 2740-50 may be on the cards. KOTAK BANK - Picking up from where it left yesterday, it kept the pressure on the Bank Nifty front along with the elder cousin HDFCBANK and by EOD, it managed to cross the 50 DMA line as well. There are a few resistances around this so we have to see if it can retain the good momentum with strong volume and march ahead. ICICIBANK - Another Banking heavyweight that roared and helped Bank Nifty outperform. It also closed at a new ATH and crossed 700 as well for the first time with good volume. POSITIVES HDFC twins getting back in traction along with KOTAK BANK is a big plus as these are the counters that were dragging or not letting Nifty and Bank Nifty move higher. Bank Nifty now has only 2-3 resistances to clear before hitting ATH. The volumes are good and so is the RSI on the daily chart. With RBI policy on 06-08, we have to see if it can close the week at a new ATH - though it is a very tall order considering that tomorrow is the expiry. FIIs have bought in excess of 2500 Crores is a big positive so some more upside is in store. NEGATIVES IT and Auto scrips came under pressure and the heavyweights have ended in the negative. RELIANCE has closed above 2100 but was choppy and somewhat reluctant to move up. It has the potential to be a spoilsport when all is well. TRADING RANGE FOR 05-08-21 As of now, the indices are on the run so I prefer to wait for them to settle down for the week before working on any levels as from hereon till some time, heavyweights could decide which way and how far the indices could be move. INSIGHT / OBSERVATIONS For the first time OHLC for Nifty is above 16000 so it would now act as a good support and a psycho barrier for bears as and when they choose to bring the index down. Bank Nifty clearly out-performed Nifty and it may now happen that Bank Nifty may scale its ATH and then only some new set of actions could take place. Though HDFCBANK is not in the top gainers, it has managed to cross the 200 DMA in style and has met with a resistance at 20 DMA. The momentum is picking up and the volume is good so we have to see by when it manages to cross the line and then the 1500 mark which would also take it above the 50 DMA. Thank you, and Happy Money Making! Umesh 4-8-21 P.S. If you choose to comment on the above, please do so with your analytical view rather than merely passing a comment. Your presentation of the view held by you would help other readers as well. NOTE -- This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title, as well as its contents, can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right.
NSE:NIFTY
by AVENUESOFINVESTMENT
Hdfc ltd conditional trade...Hdfc Ltd spot cmp 2500 Time frame :- Daily Study : Elliot wave Wave 1 :- Wave 1 is first impulse wave of impulse phase,, in this case study first wave consist of 470 points in terms of points and 32% in terms of percentage,, first wave is generally of no confidence movement,, buyers still dont have confidence that the trend will change and the upside impulse move will start,, so it spends time in that reversal zone. Wave 2 :- wave 2 is first corrective wave of impulse phase, in this case study second wave consist of 325 points and have retraced around 78.6% of wave 1,, general rule as per theory is wave 2 retraces around 50 to 88.6% of wave 1,, the retracement of wave 2 is sharp in nature and are of very short period,, and wave 2 low can not be below the low point of the start of the impulse phase.. Wave 3 :- wave 3 is second impulse wave of impulse phase,, in this case study third wave consist of 1268 points in terms of points and 78% in terms of percentage,, 3rd wave is longest and strongest wave of impulse phase,, once price breaks out above high price of wave 1 traders jumps into the trade and wave 3 is extended wave of wave one,, it can extend from 1.618% to 3.618% of wave 1 in both terms of points and in terms of percentage,, in this case wave 3 have extended around 2.618% of wave 1 in terms of price and percentage.. wave 3 also consist of minor impulse phase which is shown as part wave of 1-2-3-4-5 of wave 3. Wave 4 :- wave 4 is second corrective wave of impulse phase, in this case study forth wave consist of 542 points and have retraced around 38.2% of wave 3,, general rule as per theory is wave 4 retraces around 23.6% to 50% of wave 3,, the retracement of wave is slow and in zig zag manner,, generally triangles and flats,, and are time consuming,, and wave 4 can not go below the peak levels of wave 1,, in this case study wave 4 is in form of symmetrical triangle,, descending triangle and on smaller time frame last leg have bullish wolf wave formation,, Wave 5 :- Wave 5 is third and final impulse wave of impulse phase, in this case study we are pre assuming the wave 4 have matured and wave 5 will unfold from this levels,, reason for the same is breakout from symmetrical triangle formation of wave 4 , breakout from wolf wave on smaller internal wave formed in wave 4,,bullish divergence in RSI indicator,, MACD on verge to give positive cross over and breakout from falling trend line,, this all are consideration for wave 5 to unfold,, now wave 5 are ephoric in nature, move are in form of parabolic steep and in rising wedge formation,, wave 5 are equivalent to wave one and are 61.8% of wave 3,, if we go as per this calculation wave 5 can end around 3110 to 3190,, as per price action breakout of symmetrical triangle gives same amount of move after breakout that will lead to 3110,, now as per wave 1 in terms of points wave 5 will be of 480 points than counter may head towards 2840 levels,, and as per % terms of wave 1 move of 32% would lead counter to levels of 3190,, which also coincides with 61.8% of wave 3,, Much more can be included in this but will not be able to do so,, Note :- personally holding this counter from 2400 levels.. Good bullish formation..
HLong
by RUDRA007