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Simple Trade Setup | HDFC | 27-09-2021 [INTRADAY]NSE:HDFC Observations: 1) On Daily Time frame, it broke 10DMA on 23-09-2021 and on 24-09-2021 it took support from it and closed with green candle. It has a characteristic to not to stay below 10 DMA for long time untill and unless there is some negative news about it. Please refer below chart : Daily time frame. 2) On 30min time frame, it has made double bottom pattern and gave breakout. Next critical resistance is 2850 level. Sustainable breakout of 2850 level will make it bullish till target of 2900-2930 level for short to mid term. Please refer below chart : 30 min time frame. ------------------------------------- Trade Setup for Date 27-09-2021: 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respsective level considering how price action works near that level.
H
by Trading_hawk
3
What a strong comeback by the INDICES! NIFTY batting 17822!NIFTY 50 EOD ANALYSIS -23-09-21 IN SUMMARY O / H / L / C 17670.85 / 17843.90 / 17646.55 / 17822.95 H-L = 86 points VIX 16.6 / +0.67% FII DII: +1530 Crores SGX NIFTY at 1930h - 17853 +22 points Likely open: Flat to mild positive. Profit booking may kick-in in the PM session. CHART BASED CONCLUSIONS - 15 M Chart A strong gap-up open and a sustained rally that ended the day a few points above the new ATH of 17843.9. It was after a long time that NIFTY was supported well by BANK NIFTY and other sectors as well. NIFTY yet again ends in the proverbial uncharted territory. The daily chart shows that today’s candle is up in the air like a rocket fired by someone. NIFTY WEIGHT LIFTERS & DRAGGERS The Weight Lifters RELIANCE 42 HDFC BANK 32 HDFC 30 BAJAJ FINSERV 28 ICICI BANK 19 TOTAL 151 The Draggers HDFC LIFE 02 ITC 02 NESTLE 02 DR REDDY’S 01 BRITANNIA 01 TOTAL 08 Lifter - Draggers = +143 POSITIVES RELIANCE chose to join hands with the HDFC twins and then what comes out was a blockbuster. BANK NIFTY also joined the party and has gained the lost ground in a matter of just one session. There are plenty of positives and the list would be long so I am not writing it here. NIFTY ends on yet another ATH and for the first time close above 17800. NEGATIVES As a mark of respect to the bullishness and positivity shown by the markets, let me not even think of any negativity at least for today’s analysis. TRADING RANGE FOR 24-09-21 I am not sure what to state about NIFTY levels. So I will let it settle down in the new terrain and will see where it ends the week before stating any levels. The spike in BANK NIFTY has torn apart all the levels on the downside so will wait for the index to end the week before stating them. The resistances are obviously at 38000 and then around the ATH of 38100+. INSIGHTS / OBSERVATIONS All constituents of BANK NIFTY ended in the green. FMCGs are known as the defensives and today when the Indices were on a roll, there was mild profit booking in the sector as HUL, ITC and BRITANNIA ended in mild red. TATA MOTORS at one stage was up 4% and as against that MARUTI could barely move in to the 1st gear and struggled throughout the day drifting towards the P Close several times. For the last 2 days, similar price action had happened in the HDFC twins and today we know what happened! Will MARUTI follow their example tomorrow? RELIANCE may take its time to reach 2500 as it made an ATH of 2497 just around one of the FIB extensions. Peak margin rules would get invoked from tomorrow morning. So for retail traders like me, as regards Stock Options are concerned, the month would be expiring tomorrow around lunch as thereafter, many retailers like me, would start exiting thereby put pressure on the downside as regards Option premia are concerned. What do you feel about this? Thank you, and Happy Money Making! Umesh 23-09-21 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:MARUTI
by AVENUESOFINVESTMENT
FTSE Lifts Indian Indices as they bounce back in stylefailed NIFTY 50 EOD ANALYSIS -21-09-21 IN SUMMARY O / H / L / C 17450.5 / 17578.35 / 17326.1 / 17562 H-L = 252 points VIX 16.52 / -5.55% FII DII: Not available till 1950h Is more likely to be moderately positive. SGX NIFTY at 1940h - 17536 -25points Likely open: Flat to mild positive. CHART BASED CONCLUSIONS - 15 Minutes Chart A gap-up opening failed to hold 17450 levels and then sold off and made a lower low as NIFTY drifted towards 17300-325. The situation would have been worse off had Europe not opened green and may be 17200-250 would have been tested. However, soon after it became clear that Europe was trading in the comfortable green, NIFTY made a one-directional rally to end above 17550. However, it is likely to face resistance around yesterday’s high of 17625+ this is evident on the daily charts. NIFTY WEIGHT LIFTERS & DRAGGERS The Weight Lifters BAJAJ FINANCE 37 INFOSYS 19 BAJAJ FINSERV 15 JSW STEEL 14 ITC 11 TOTAL 96 The Draggers HDFC BANK 05 MARUTI 03 NESTLE 02 BAJAJ AUTO 02 BPCL 01 TOTAL 13 Lifter - Draggers = +86 POSITIVES NIFTY closed above 17550 and 17300 was respected. BANK NIFTY erased all the losses and ended in the green which helped NIFTY in a big way. ITC, INFOSYS-TCS, HDFC, and TATA MOTORS rose more than 1%. RELIANCE closed above 2400. KOTAK BANK was able to hold 2000 levels on closing basis. NEGATIVES The single most weak link is HDFC BANK. It experienced severe VIX today and has the potential to be the game-breaker or maker in the coming week. Except for KOTAK BANK, all heavyweights in banking were badly hammered. BANK NIFTY made a low of 36525 a fall of 1500+ points of ATH attained a couple of days ago. TRADING RANGE FOR 22-09-21 17300-17350 was the support line and NIFTY almost threatened the same. So I now revise the line to 17250-300. Resistances at 17600-30-700. BANK NIFTY supports lines were breached so now the support line is redrawn as 36200-500. Resistances at 37500-700. INSIGHTS / OBSERVATIONS HDFC BANK seems to have become the punching bag as it was extremely volatile through the day and moved 32 points in the day and it must have gone up and down and back and forth several times. Every time it went up and down, the fortunes of the index traders swung with it as it is a heavyweight for both the indices, and if it were not for the other scrips that showed good performance, both the indices would have fared poorly on a closing basis. NIFTY’s move is very much like that of INFOSYS if we look at the 5 minutes chart. INFOSYS is also one of the heavyweights so it has played its part in the rally today. Whereas NIFTY ended +150 points from the P Close, BANK NIFTY failed to register a +100. This is mainly on account of HDFC BANK so BANK NIFTY will be held back as long as HDFC BANK wishes. What do you feel about this? Thank you, and Happy Money Making! Umesh 21-09-21 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:HDFCBANK
by AVENUESOFINVESTMENT
Simple Trade Setup | HDFC | 17-09-2021NSE:HDFC Trade Setup for Date 17-09-2021: 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL.
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by Trading_hawk
1
NIFTY batting at 17519 a record closing highNIFTY 50 EOD ANALYSIS -14-09-21 IN SUMMARY O / H / L / C 17387.65 / 17532.7 / 17386.9 / 17519.45 H-L = 146 points VIX 13.73 / +1.1% FII DII: +399 Crores Likely open: Flat to mild positive. Tomorrow is the weekly expiry so keen to see where does NIFTY ends and whether BANK NIFTY can cross 37000 or it yet again goes sideways. CHART BASED CONCLUSIONS - 15 Minutes Chart A mild gap-up open was sustained very well as can be seen from the chart and NIFTY ended the day close to the day high and above 17500. The daily chart indicates that there was a strong buying that led the rise to the levels above 17500. NIFTY WEIGHT LIFTERS & DRAGGERS The Weight Lifters INFOSYS 19 TCS 17 TITAN 12 BHARTI AIRTEL07 11 ICICI BANK 10 TOTAL 69 The Laggards NESTLE 02 TATA CONSU 02 HDFC BANK 02 AXIS BANK 01 ASIAN PAINTS 01 TOTAL 08 Lifter - Draggers = +61 POSITIVES NIFTY closed at a new ATH and also hit a new ATH. And both are above 17500. TCS, INFOSYS, and KOTAK BANK helped NIFTY to a great extent in holding on to the higher plains. FIIs and DIIs have bought to the extent of 399 Crores which is somewhat less around such levels. NEGATIVES HDFC twins closed a bit below the P Close. RELIANCE has not been able to hold higher levels closer to 2400 and keeps falling back below 2380. BANK NIFTY is still below 37000 resistance which may drag NIFTY should HDFC BANK slide. TRADING RANGE FOR 16-09-21 17300-17350 is the new support base. For the resistances, we will have to a few days go by to see how and where it gets formed. BANK NIFTY support stays at 36200-400 and resistance at 37000-37200. This has not been changing for quite a few sessions now. INSIGHTS / OBSERVATIONS I think my insights of yesterday were read by NIFTY as it deceived all and made a steady climb to the psycho mark of 17500 and closed above the line. If we look at the contribution of the yop 5 lifters of NIFTY it is 69 points and that of the draggers is 08. So the leaders net contributed 61 but NIFTY rose by 139 clearly indicating that the rally was well supported by the broader market. BANK NIFTY also extended its daily range to 500+ points which helped NIFTY. If HDFC BANK recovers, then BANK NIFTY is likely to cross the 37K mark - the Q is - will the giant move upwards? The NIFTY rise may have also been contributed by the Short Covering of 17400 CE as there was a good number of CE written as part of the ATM straddle. What do you feel about this? Thank you, and Happy Money Making! Umesh 15-09-21 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
Are we really in a Bull Market with daily Sell-offs?NIFTY 50 EOD ANALYSIS -14-09-21 IN SUMMARY O / H / L / C 17420.35 / 17438.55 / 17367.05 / 17380.00 H-L = 77 points VIX 13.58 / -3.21% FII DII: +1330 Crores Likely open: Positive Gap-up provided it is able to stay above today’s close for an hour or so. CHART BASED CONCLUSIONS - 15 Minutes Chart A gap-up open and then a new ATH was flagged and then the usual drifting game started with the mandatory sell-off just after 1300h and then sideways moves that resulted in yet another ATH Close, but well below the ATH as well as daily high by 58 points. The daily chart indicates that there is a series of Doji-type candles - do they suggest a continuation pattern or exhaustion? I am not sure about it. NIFTY WEIGHT LIFTERS & DRAGGERS The Weight Lifters TCS 09 HCL TECH 07 LT 07 KOTAK BANK 06 INDUSIND BANK 05 TOTAL 34 The Laggards HDFC 12 HDFC BANK 07 NESTLE 04 INFOSYS 04 HUL 04 TOTAL 33 Lifter - Draggers = +1 POSITIVES NIFTY closed at a new ATH and also hit a new ATH. TATAMOTORS, KOTAK BANK, TCS, and LT have shown strong momentum. NIFTY was resilient to a great extent as the day low was above 17350 and almost a 100 points above the low of the earlier session. FIIs have bought in excess of 1400 Crores. NEGATIVES RELIANCE, HDFC twins, and INFOSYS ended up dragging the indices from the higher plains. NIFTY is closing a well 58 points below the ATH. BANK NIFTY though ended in the green continues to under perform. TRADING RANGE FOR 15-09-21 17000-17200 is the support base.17400-450-500 may be the resistance area for NIFTY. BANK NIFTY support stays at 36200-400 and resistance at 37000-37200. INSIGHT / OBSERVATIONS They say looks are deceiving. And NIFTY is doing exactly the same. It is in a bull market, has made an ATH close after hitting an ATH high that was 58 points above the closing price. The first few minutes register a high and then the drifting game starts which at times results in sell-off and if it falls around 17300 or below, it bounces back and ends flat. I have been writing for over 2 years but I have not seen such situations happening around ATH levels. The manner in which the prices move of some of the heavyweights gives an indication that what is happening appears to be stage-managed as the candles on the daily charts would confirm so. When an index or a stock is at ATH, the path of least resistance should be on the upside. However, in the case of NIFTY, it is on the downside and that is what is surprising. INFOSYS, RELIANCE, HDFC BANK are being used to cap the upside in NIFTY for now as these three on their combined strength can lift NIFTY way beyond 17500. In the end, patience and the ability to read the intent of the market and the scrips is more likely to pay off than anything else. What do you feel about this? Thank you, and Happy Money Making! Umesh 14-09-21 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
5