Attention please ...
tomorrow is budget day and lot of movement is expected.
You'll get a lot of calls/ideas saying this will happen, that will happen, go long, go short, etc.
But, as professional traders, we know that predicting is not our job, our job is to make money.
Believe me, whoever tells you that he knows what all will be announced in budget and how...
Continuing from the awesome prediction of nextgen sir ( see in related ideas ) ;
maruti suzuki has again faced resistance at that level with full down candle.
Short trade can be placed with the high of the candle + cushion as stoploss.
Sun Pharma is now at a multi-year horizontal - SR level .
You can see the levels go back upto 2013 which make them important.
Fellow traders are suggested to trade as they decipher this chart in their own way .
CMP - 272.6
the RED ( resistance ) AND GREEN ( support ) lines hold importance .
and I have drawn multiple trendlines to form sort of a trend fan, which will help you help take a position.
NSE:BANKNIFTY is very popular over here.
and many traders asked me for intraday levels yesterday.
So, to help everyone, here I have zoomed in the previous chart. Where I put the thin arrow mark for light selling pressure which happened ,
but the overall market structure is showing uptrend.
Traders have been asking me for levels,
to them my answer is,...
NIFTY is most popular as we know.
These are the lines that hold importance for another 2 days of the week.
Follow them and make trades on the line. Always keep a bit of room for a short overextension through the line.
Retest is a stronger signal than break. Have more confidence on that.
Glad to help.
I hope you like it.