***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have...
Nifty50 and Banknifty saw a day with a gap down followed by a failed recovery. HDFC Bank was one of the key losers after its lacklustre earnings release.
Where do you think the stock market is heading?
Important Nifty levels and Banknifty levels for tomorrow:
Levels for Nifty: 15,596, 15,660,15,733, 15,750, 15,835 15,986 (don't want to pick tops)
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Leave a comment that is helpful or encouraging.
ICICI Bank has been consolidating for a while and then it's on the verge of an All Time High breakout. The last Friday candle is on above average volume and is respecting the trendline. The quarter results released is fantastic and hence this stock has very high probability for a good breakout trade on Monday.
NIFTY 50 EOD ANALYSIS -22-07-21
Open / High / Low / Close
15736.6 / 15834.8 / 15726.4 / 15824.05
Trading Range Low to High: 98 points
Likely Max Realistic Opportunity @ 50%: 49 points
India VIX: 11.89 / -9.99%
FII DII activities: +700 Crores
CHART BASED CONCLUSIONS
A 202-point recovery reads interesting. However, in effect, we have ended the...