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Head and Shoulders

03 Aug ’23 Post Mortem on BankNifty Weekly Expiry Analysis 🐻🐻BankNifty Weekly Analysis Banknifty has fallen an impressive 3.18% compared to just 1.89% of Nifty. The major reason for that is Banknifty always acts as leading indicator in a trend change NiftyIT and Reliance were supporting Nifty in the last week. Once the US market started falling due to the Fitch rating downgrade, NiftyIT started correcting which ensured Nifty’s breakdown. Now why BankNifty chart pattern screamed a bearish opportunity before Nifty - I really dont know. The price action of 27th Jul was very strange and unusual. BankNifty Daily Analysis Today’s price action was in perfect harmony with yesterday’s. The ease with which the chart pattern could be plotted was as simple as going short in today’s expiry. The day started pretty ordinary for OTM options, but after 10.00 the premiums started jumping indicating a market trending opportunity. The real move came only after 11.30 wherein we dropped 591pts ~ 1.32% till 14.10. Overall we fell 754pts from High to low of which ~80% came after 11.30. There was also a decent recovery of 325pts ~ 0.73% in the last 1hr 20mts. The final close of just 1.07% ~ 482pts loss is not a deal breaker at all. Basically the market participants are still euphoric and the fear level is absolutely near zero. The VIX falling today even after a 6% surge intraday is proof. For push down of prices - we would need more intense selling on HDFCBK, ICICIBK, SBIN, AXISBANK which has a decent FII exposure and has seen a one-way rally. The double top pattern from yesterday has now changed into a head and shoulders further reconfirming our short side possibilities. Until proven wrong, we prefer to go short.
NSE:BANKNIFTYShort
by viswaram
Head and Shoulders BottomSIS The Head and Shoulders Bottom pattern emerges after three consecutive price declines, occurring after a significant downtrend. The pattern consists of three distinct parts: the lowest low in the middle (referred to as the head) and two higher lows on either side (referred to as the shoulders) that are approximately at the same level. During the formation of this pattern, the trading volume is generally highest when the price experiences the first two declines. As the pattern progresses, the volume tends to diminish during the formation of the right shoulder. The confirmation of the reversal comes when the price closes above the neckline, which is drawn between the two highs formed by the shoulders. This breakout above the neckline is accompanied by a surge in trading volume, signifying a confirmation of the reversal and suggesting that the price is likely to continue its upward movement. Note for everyone who came across this reference: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:SIS
by hardeepssethi
Keystone Realtors (Rustomjee), BullishThe stock had been in downtrend since its listing. Had made Inverted Head & Shoulder Pattern after listing but was unable to sustain, however continued the downtrend forming rounding bottom pattern. Now, the stock has given 6month breakout. Even though earlier Inverted H&S pattern is invalid, I have shown intermediate targets based on the same. All levels shown on the chart, are only for educational purpose, not any trade recommendation.
NSE:RUSTOMJEELong
by aquarianup
1
Reliance Industries Analysis! Trend Reversal??Reliance Industries Daily Analysis! Inverted Head and Shoulder Pattern Formation in Reliance Industries on Daily Timeframe! Does trend reversal will happen? Does the clear downtrend will be converted into Uptrend? NIFTY also forming the same pattern please look Nifty Analysis also by clicking on the below link! As we know the Inverted Head and Shoulder Pattern is a Reversal Pattern and it detected after a Downtrend. After that we have seen a positive move in Reliance Industries. In last 4 trading sessions Reliance Industries gives a breakout to the Neckline and trading above it but in the last trading session we can see the selling pressure was high. So Reliance Industries couldn't break the key level which is 2462.85 which is the Resistance level also. So we are waiting for Reliance Industries to break the key level Then only it will be a decent Entry. Trade Initiation = Entry = Above 2462.85 Target = 1) 2488.40 2) 2593.15 3)2700 Stop Loss = Below 2404.50 Rest of the Analysis you will find on the chart. I have done all the possible Analysis on the chart which took lots of time. If you like this Analysis please support this Analysis. I hope you will lean something about Technical Analysis from this chart. Thank you all for your Support! Disclaimer = All my analysis are for Educational Purpose only. Before entering into any trade - 1) Educate Yourself 2) Do your own research and analysis 3) Define your Risk to Reward ratio 4)Don't trade with full capital
NSE:RELIANCELong
by Avinash9087
8
Banknifty ( 31/07/2023 )Banknifty for ( 30/07/2023 ) Enter once after " Breakout and Retracement " . . For " long " entry: 45530 target: 45760 stoploss: 45450 . . For " Short" entry: 45380 target: 45250 - 45020 stoploss: 45510 . . Enter only if market Breaks "Yellow box" mentioned. . Wait for proper reversal and conformation. . Don't make complicated trade set-up.📈📉 Keep it " simple, focus on consistency "💹 Refer our old ideas for accuracy rate🧑‍💻 Valuable comments are welcomed-✌️ . refer old ideas attached below
NSE:BANKNIFTY
by TheNuraTrading
2