Get started

Indianstockmarket

Nifty: as it stands out nowSwetha madam shared today one nice observation about a down slopping channel in Nifty since last 3 months. Extending the analysis with a few other observations with some more price-action tools. Swetha madam's charing: My charting: Observations : H&S formation with a base at 16800. So for the sake of price-action, 16800 has to be retested. This is 2nd time testing after 29-Sept'22. If I plot an Elliot Wave then this down trending channel is the correction A-B-C waves. We are in "C" subwave as it seems. Why "C" ? - because we are below 23% Fib number from Top. (ATH) Does the 16800 end of Wave-C? - Well: Watch out for a Daily RSI positive divergence. If that happens it will be a upward move for sure. If upmove happens how far? - None knows. It depends on the degree of divergence (i.e how far price needs to move up to match the RSI). What's the chance of a breakdown? - Well: if I check the volume profile - the Volume Profile Point-of-Control (PoC) it way far - 17900. Throughout the channel -- the volume profile PoC is at middle of the channel. Specially below 17600 (Fib 38%) the volume profile does not show control zone, muted participation. So most likely, the attack to 16800 won't be strong and it will be hold as support . What would be best for Trending Nifty Let price consolidates around 17300-16800 for long time (time correction). Volume profile PoC will be shifted gradually toways 17000 levels. A clear RSI divergence (+ve or -ve) to be appeared in Nifty daily, preferably in weekly closing. Perfect for trending .. up or down .. based on direction of divergence.
NSE:NIFTY
by pradipandsuvra
Nifty: Friday - 10/03/23Levels: Support: 17580, 17530, 17460, 17375 Resistance: 17630, 17700, 17725, 17765 OI Data: ---------------------------------------------------------------------| Nifty => Price: 17589.6 ATM: 17600 , ITM: 17550, 17500, 17450 , OTM: 17650, 17700, 17750 ---------------------------------------------------------------------| Highest OI Call in Nifty per OI data: 17600 Highest OI Put in Nifty per OI data: 17600 Nearest Major Resistance in Nifty per OI data: 17750 Nearest Major Support in Nifty per OI data: 17350 ---------------------------------------------------------------------| Trade setup: +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 17620 | 17575 | 17700 | 17750 ----------------------------------------- SELL | < 17570 | 17610 | 17500 | 17450 +++++++++++++++++++++++++++++++++++++++++
NSE:NIFTYLong
by pradipandsuvra
Divergence: A Retrospective Divergence Trading is lucrative as the price movement following a divergence is with high momentum, hence rewarding with decent Risk:Reward. The common way is to add conventional RSI and check for divergence . However we often found that many of the vanilla RSI divergence signals are conveniently ignored by the following price action. Then the question is: Does RSI divergence fakes out? OR with the confluence of something other stuff we can more accurately identify these sorts of divergence and hop into it happily with lucrative Risk:Reward. Potentially the Volume Profile (more specifically: The Fixed Range Volume Profile) identified high liquidity zones (classical term: Point of Control , PoC ) are the area where one should look out for a potential RSI divergence. We have picked up the FX_IDC:USDINR last 5 months Daily chart and followed this analysis tecnique: Analysis Methodology: Use Daily (or something like hourly/4-hour etc.) normal candlestick. Identify the swings in the chart (high, lows). For each swing, apply Fixed Range Volume Profile free TradingView indicator (available under Technicals > Profile, 2nd from top) The PoC (Point of control) is visible in the chart. You may mark it in the chart with a horizontal line (or a rectangle). That's the liquid-most zone . If you see some other areas other than PoC area (technically called Value Area ) are showing decent liquidity (comparable to PoC, say within 60% of PoC), then mark that area also with a horizontal line. Add a RSI. Cleanout everything other than just the RSI line chart. Change the main price chart from normal candle to line chart. Once you see the price is in the high liquidity zone, check the price and the RSI together. See if there is a divergence. Positive/Bullish Divergence : Price is making a lower-low, but corresponding RSI levels are not making lower-low (either same or making higher low). Negative/Bearis Divergence : Price is making higher-high, but corresponding RSI levels are not making higher-high (either same or making lower high). Hidden Divergence : No need to consider too much. Spotting a normal RSI divergence is good enough. That's it. Once you find out the divergence, take a Positional Trade in the opposite direction of trend. (means +ve divergence Long / -ve divergence Short). Hold it with the SL of the Highest Point of the high liquidity zone (which you have marked earlier) and ride the reversal movement with trailing the stop loss. In last 5 months USDINR, we can see it happened at least thrice. So it's powerful. Lesser number of quality trades.
by pradipandsuvra
BATA: Sideways to BearishNSE:BATAINDIA has overall a range bound of 1320 to 1400 range. However if 1370 is broken (mentioned in green color small support line) it will retrace back to 1330/1340. If we look at the OI Data: Very high fresh call addition at 1400 strike. If Bata persists below 1370 for 30m, buying a 1380 (or better) 1400 Put (29th March) seems lucrative trading option. Or even better a Bear Call Spread : BUY 29th March 1400 Call Option SELL 29th March 1300 Call Option RR: 1:2 PoP: 42% Margin: 42k. Breakever: below 1369 (where is our support line) All the best!
NSE:BATAINDIAShort
by pradipandsuvra
Bank Nifty: Monday - 27/02/23Levels: Support: 39900, 39775, 39680, 39500 Resistance: 40000, 40150, 40350, 40500 OI Data: ---------------------------------------------------------------------| Bank Nifty => Price: 39909.4 ATM: 39900 , ITM: 39800, 39700, 39600 , OTM: 40000, 40100, 40200 ---------------------------------------------------------------------| Highest OI Call in Bank Nifty per OI data: 40000 Highest OI Put in Bank Nifty per IO data: 40000 Nearest Major Resistance in Bank Nifty per OI data: 40400 Nearest Major Support in Bank Nifty per IO data: 39600 ---------------------------------------------------------------------| Trade setup: +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 40000 | 39900 | 40200 | 40350 ----------------------------------------- SELL | < 39850 | 39950 | 39650 | 39500 +++++++++++++++++++++++++++++++++++++++++
NSE:BANKNIFTYLong
by pradipandsuvra
Nifty: Monday - 27/03/23Levels: Support: 17460, 17420, 17300 Resistance: 17550, 17580, 17650, 17700 OI Data: ---------------------------------------------------------------------| Nifty => Price: 17465.8 ATM: 17450 , ITM: 17400, 17350, 17300 , OTM: 17500, 17550, 17600 ---------------------------------------------------------------------| Highest OI Call in Nifty per OI data: 17600 Highest OI Put in Nifty per OI data: 17000 Nearest Major Resistance in Nifty per OI data: 17650 Nearest Major Support in Nifty per OI data: 17450 ---------------------------------------------------------------------| Trade setup: +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 17500 | 17460 | 17600 | 17650 ----------------------------------------- SELL | < 17420 | 17460 | 17350 | 17300 +++++++++++++++++++++++++++++++++++++++++
NSE:NIFTY
by pradipandsuvra