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Indianstockmarket

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
Bank Nifty: Friday - 17/02/23Levels: Support: 41520, 41400, 41320, 41225, 41175, 41100 Resistance: 41670-700, 41860-41900, 41980 OI Data: ---------------------------------------------------------------------| Bank Nifty => Price: 41631.35 ATM: 41600 , ITM: 41500, 41400, 41300 , OTM: 41700, 41800, 41900 ---------------------------------------------------------------------| Highest OI Call in Bank Nifty per OI data: 41700 Highest OI Put in Bank Nifty per IO data: 41600 Nearest Major Resistance in Bank Nifty per OI data: 42100 Nearest Major Support in Bank Nifty per IO data: 41200 ---------------------------------------------------------------------| Trade setup: +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 41670 | 41600 | 41850 | 42000 ----------------------------------------- SELL | < 41500 | 41600 | 41300 | 41150 +++++++++++++++++++++++++++++++++++++++++
NSE:BANKNIFTYLong
by pradipandsuvra
NIFTY: Thursday - 16/02/2023Levels: Support: 18015, 17970, 17920, 17880, 17815, 17735, 17650, 17500 Resistance: 18050, 18120, 18170-18200 OI Data: ---------------------------------------------------------------------| Nifty => Price: 18015.85 ATM: 18000 , ITM: 17950, 17900, 17850 , OTM: 18050, 18100, 18150 ---------------------------------------------------------------------| Highest OI Call in Nifty per OI data: 18200 Highest OI Put in Nifty per OI data: 17800 Nearest Major Resistance in Nifty per OI data: 18250 Nearest Major Support in Nifty per OI data: 17950 ---------------------------------------------------------------------| Trade setup: +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 18050 | 18010 | 18150 | 18200 ----------------------------------------- SELL | < 17980 | 18020| 17900 | 17850 +++++++++++++++++++++++++++++++++++++++++
NSE:NIFTYShort
by pradipandsuvra
RELIANCE: Head and Shoulders BreakoutTHEORY: This pattern forms after an extensive upside rally. It consists of a left shoulder, a head, and a right shoulder. The left shoulder is formed after a big bull rally in which the volumes are quite large. At the end of the left shoulder, a minor correction takes place on the downside which happens on the low volumes comparatively the starting of the left shoulder. After this, again an up move can be seen on large volumes forming a head whose top is above the left shoulder following a correction on lower volumes & completing the head. The completion of the head must be below the top of the left shoulder. If the prices fall down below the low of the left shoulder then too this pattern remains intact. In the end, the right shoulder is formed usually on smaller volumes comparatively the previous two rallies. Now if you connect the bottoms of the left shoulder, head & the right shoulder there will be a formation of the ‘Neckline‘. This line will act as a decision line. If the prices break this neckline & give closing below the line, this will be the confirmation of the breakdown of the H&S pattern. However, it has been noticed that after breaking of the neckline the prices again attracted towards this neckline. We say this phenomenon as a retest of the neckline which will add some more confidence while trading this pattern. After retesting if the prices again come down this will be the final confirmation of the downside movement of the price as shown below. The bookish target of this pattern is taken as the vertical price range from the top of the head to the neckline & the bookish Stop loss should be the top of the right shoulder. However this stop loss can be big, so it is advised to keep a stop loss of 4-5% of the price range above the neckline. May 29 TRADING STRATEGY: GO SHORT WITH SL OF 2590 & LOOK FOR THE TARGET OF 2460/1365 IN THE COMING WEEKS. NOTE: IF THE STOCK BREAKS THE RESISTANCE OF 2632 THEN IT WILL BE A H&S FAILURE PATTERN, WHICH WILL CALL A BULLISH ALTERNATE SCENARIO.
NSE:RELIANCEShort
by TradingSutra
18
Bank Nifty: Monday - 23/01/23Bank Nifty Intraday Levels: Chart: Setup: Levels: Support: 42500, 42300, 42225, 42110, 41865, 41700 Resistance: 42625, 42700, 42900, 43000 OI Data: ---------------------------------------------------------------------| Bank Nifty => Price: 42506.8 ATM: 42500 , ITM: 42400, 42300, 42200 , OTM: 42600, 42700, 42800 ---------------------------------------------------------------------| Highest OI Call in Bank Nifty per OI data: 42500 Highest OI Put in Bank Nifty per IO data: 42500 Nearest Major Resistance in Bank Nifty per OI data: 42900 Nearest Major Support in Bank Nifty per IO data: 42100 ---------------------------------------------------------------------| Trade setup: +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 42600 | 42500 | 42800 | 43000 ----------------------------------------- SELL | < 42450 | 42550 | 42250 | 42100 +++++++++++++++++++++++++++++++++++++++++
NSE:BANKNIFTYLong
by pradipandsuvra