Index
NIFTY hourly view for 6th June onwardAs per the chart on hourly basis NIFTY is showing little bit bearishness. Though 16400 in spot will be next strong support zone where it took resistance for multiple times previously. Below this support area, it may fall towards 16200-16150 which is though not very strong support area before the major demand area as shown in the chart. On upside 16800 will strong resistance area, only above this one must try to go long for the target area 16960-17140.
Conclusion: Idea is to find shorting opportunity in NIFTY as per author's own view :)
bank nifty analysis for 30/05/2022As a pervious video shared showed there might be a down side because of the rising wedge pattern (only if there is not a gap up day) and unfortunately there was a huge gap up day of almost 150 points and we didn't took a trade on that as said before the conditions . today's video is all about the next move
Nifty 50 trade setup for tomorrowThe market is trading in the range and if the market has to go down or up it has broken that range.
If 30 minutes candle closes below the 16080 level we may further down movement in the market.
For prices to go up, the price has to break the trendline and also the previous high.
Target 1 achieved in Nifty Infra. Gain of 40% Target 2 is ON.This is follow-up on Nifty Infra. Can check link to related ideas.
Target 1 achieved. Gain of more than 40%. Target 2 is ON.
Chart is self explanatory. Entry, Targets and Trailing Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NIFTY at critical juncture - Breaking out of Strong ResistanceNifty has been in a correction for roughly 6 months and now it’s breaking out of the falling channel which coincidently intersects a Strong Resistance at the breakout point.
The significance of a Support & Resistance line increases when the price reverses at the same point multiple times.
This Resistance line on the chart is strengthened at multiple points during this correction (TouchPoints marked on the chart).
The cherry on the cake is that the breakout has not taken the price too far away from the resistance line. We may get a good risk/reward ratio if it sustains above the line.
If the price sustains above 17670, it will continue higher with the nearest resistance at 17800 which can act as a target in a smaller timeframe. The next target at 18350 on a higher timeframe.
The chart may actually form Doji’s or Spinning tops because the Resistance is too strong, and also it is the upper line of the falling channel.
Indicators are flashing green with strong RSI and MACD in positive territory.
One should wait for confirmation of breakout above 17670 before going long. If it fails to sustain above the resistance and forms a bearish candle, it can be a good trade opportunity for sellers.
Disclaimer:
This is not buy/sell advice. Please do your due diligence before making any trading decision or consult your financial advisor.
Sharing my analysis and thoughts for a stronger and healthier community. Cheers
Nifty reversing from resistance Nifty reversing from resistance on daily timeframe. Today in last 30 mint selling has seen on Index for both nifty and Banknifty and data turns bearish. sustaining below 17950 can show some weakness over nifty and Banknifty both. Refer tomorrow opening for better confirmation. NSE:NIFTY
Monthly Breakout in Nifty Media...Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.