By looking at daily chart shows a lot more clear vision of next moment for investors activities. The price is trading between value high to control price 1.
If the price starts to fall then the next target will be at previous resistance in 8595 and the gravitating target can be easy 8400.
Lagging or late fall then price can move up for...
Talking about the long term is a reversal point for the close. The eyes of both investors and buyers should be on this stock for deep buying. Over-reaction, which is a little more down moves us a super entry point for the trader. 495-505 are the best level for short term holding.
I will update shortly, small timeframe chart for this stock more clearity of entry...
In last update, I have updated everything about nifty which was clear. Actual support also mentioned 11854(made low 11844). Still nothing is much change in this update.
Support 11854 is strong and reference of Cycle(ii) 11934-11955 non stop move. Breaking and closing below 11812 previous investor's supoprt will push nifty down but chance is very low till.
As discussed on last post BNF was showing signs of strength and we opted for long options for swing trading, we have hit out tgts and now closed out longs.
From here on we may see some retracments, we are opting to stay neutral until positional trend change presents itself to us, if that doesn't happen we will enter longs again.
Nifty formed a bullish flag pattern followed by a consolidation before a breakout to reach the top of the flag.
Further consolidation was seen in the ~11800-12000 range.
Nifty has witnessed a breakout from this range and is thefore expected to resume its upmove to the target of 12775 given the length of the Flag Pole.
This is ofcourse going to be a swing...
1. Major support broken down on daily chart which was 1720-1715 levels.
2. Next support as per TA is 1630 which is 0.618 FIB retracement of last parabolic move up.
3. If 1630 breaks that possibility of down towards 1500 seems look good.
- Personally i am going to build up a short position from 1690-1710.
- With stop loss above 1730
- Target 1 : 1630...
After, making a Cup and Handle Pattern nifty is trying to consolidate to at nearly support range. Can be considered as an opportunity to buy on every dips with following levels:
Buying Range: 11850-11900
Tg Range: 12110-12250
for coming days.
Bank Nifty appears to have completed its consolidation below the 200DMA and closed above the resistance with a bullish breakout above the triangle.
RSI(14) indicates a build-up in strength.
CIPLA has been trading in a range for almost 5 years now ( Look at the chart)
But, now I think we might see a new trend- Potentially a bear one.
The problem with most traders is they think "indicators are everything" which is simply not true.
A fancy cluttered chart with 10 indicators doesn't mean accuracy at all.
I think you can trade with just basic tools, you...
The following factors are -ve.
Price is too far from 20 M.A.
Tail found at the area of over-reaction.
Wave(5) is so close.
The price is out of trade channel area.
Professional and smart money investors whatever you called them such as Speculators, Arbitrageurs, Fund managers, insiders, etc. are already entered near the wave (4). Focus on their profit...
Long white day candle was formed where the price is up by crossing the previous 3 days of the candle.
Control Price (ii) which is spot nifty target (11540) and resistance nearby it. Notice, many times "control price (ii)" shown its strength.
The possibility of Profit booking can be 11525-11580.
ghstocktrading.webnode.comBANK NIFTY: WEEK-TECH-SHEET->16thSeptember2019 to 20thSeptember 2019
Bank nifty moves around +2775.95 pips from 16thSeptember2019 to 20thSeptember 2019, in which bank nifty break last week 9th September2019 to 13th September 2019 top 28126.85 as well as bottom 26993.90.