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RBL Bank: Trend Reversal is imminentNSE:RBLBANK is about to show excellent breakout. Price is crossing the 200 DMA. It is basically a trend reversal as the order will be: Price cut the 200 DMA, then 21 DMA will cut the 200 DMA and then 50 DMA will cut the 200 DMA, uptrend starts. Volume is high. A Bullish Engulfing candle is formed in daily chart engulfing whole 1 week price action. Long build up is seen in OI data. Trade : Buy above 153 (200 DMA), SL: 148. T: 158, 164 .. long term 200. Option Strategy Looking at the OI data here is what I can see: Call side: Short covering is happening in 145 strike. Call side: From 147.5 upto 160 .. all strikes has long build up. Put side: Upto 150 short build up is happening. So once price stays above 153, can simply buy 155 Call option (CMP: 5.35 with SL: 4.50, T: 7) Note Typically, when a very big engulfing candle is formed in chart, there is always a possibility that next few days price can consolidation within the range of the candle (143-152) from price action perspective.
NSE:RBLBANKLong
by pradipandsuvra
Nifty: Tuesday - 22/11/22Levels: Support: 18150, 18080, 18000 Resistance: 18220, 18275, 18320, 18370 OI Data: ---------------------------------------------------------------------| Nifty => Price: 18159.95 ATM: 18150 , ITM: 18100, 18050, 18000 , OTM: 18200, 18250, 18300 ---------------------------------------------------------------------| Highest OI Call in Nifty per OI data: 18300 Highest OI Put in Nifty per OI data: 18000 Nearest Major Resistance in Nifty per OI data: 18250 Nearest Major Support in Nifty per OI data: 18050 ---------------------------------------------------------------------| Trade setup: 1. If Nifty Opens up more than 200 points, safely sell. 2. For any buy trade, follow the N pattern (let the price run above the level, let it retrace back to the level and let it hold the level as support) 2. For any sell trade, follow the mirror-N pattern (let the price fall below the level, let it pulls back to the level and unable to pass through the level as resistance). +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 18200 | 18160 | 18300 | 18350 ----------------------------------------- SELL | < 18100 | 18140 | 18000 | 17950 +++++++++++++++++++++++++++++++++++++++++
NSE:NIFTYShort
by pradipandsuvra
EaseMyTrip Price Action AnalysisThere is a pennant (symmetrical triangle) pattern formation (blue triangle). By choosing baseline charting (instead of candlestick or range), you can visualize the swings. As of now it's hitting the resistance of 403. If it able to break the previous swing high (409 on 04/10) with volume, it can go high (~425). But see the black dotted line. That's a "prediction" heuristic (no guarantee, it's just a heuristic) where price-action can go. If it fails to break the upper trend line, then the range is: 400-375.
NSE:EASEMYTRIP
by pradipandsuvra
Nifty: Wednesday - 02/11/2022Levels: Support: 18120, 18100, 18060, 18000 Resistance: 18175 OI Data: ---------------------------------------------------------------------| Nifty => Price: 18145.4 ATM: 18150 , ITM: 18100, 18050, 18000 , OTM: 18200, 18250, 18300 ---------------------------------------------------------------------| Highest OI Call in Nifty per OI data: 18400 Highest OI Put in Nifty per OI data: 18000 Nearest Major Resistance in Nifty per OI data: 18250 Nearest Major Support in Nifty per OI data: 17950 ---------------------------------------------------------------------| Trade setup: 1. For any buy trade, follow the N pattern (let the price run above the level, let it retrace back to the level and let it hold the level as support) 2. For any sell trade, follow the mirror-N pattern (let the price fall below the level, let it pulls back to the level and unable to pass through the level as resistance). +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 18180 | 18140 | 18250 | 18300 ----------------------------------------- SELL | < 18100 | 18140 | 18000 | 17950 +++++++++++++++++++++++++++++++++++++++++
NSE:NIFTYLong
by pradipandsuvra
Dr Reddy: Unable to sustain breakout above key level NSE:DRREDDY seems could not be able to pierce through the major resistance line around 4625 (the recent swing high). Note the volume. It's pretty significant and coincides with the Q2 result. So, things are interesting here. Chartically, the following traits are seen: A Head & Shoulder formation is seen with the neckline around 4200. There is a downtrend line coming down since last one year. The downtrend line & the H&S neckline is creating the symmetrical triangle (pennant) pattern. Now the most interesting part: 31/10/22 has it's Q2 earning date. And see the volume, huge surge. BUT The volume surge does not able to push the price above its recent swing high (Head of the H&S pattern) 4625. Rather it closes (CMP: 4433) closes near its long-term support line of 4420-4430 level. For it to go up, has to convincingly break past 4625 level. Tradewise, Resistance: 4625 Support: 4290 Next target: 4750/4900 The breakout above 4625 has to sustain good volume.
NSE:DRREDDY
by pradipandsuvra
FinNifty: Tuesday - 01/11/22Levels: Support: 18500, 18455, 18300 Resistance: 18600, 18700, 18750. Please note the green slanted uptrend line. Price is getting support there. Trade Setup: 1. For any buy trade, follow the N pattern (let the price run above the level, let it retraces back to the level and let it hold the level as support) 2. For any sell trade, follow the mirror-N pattern (let the price fall below the level, let it pull back to the level and unable to pass through the level as resistance). 3. One can go long till the price-action stays above the green uptrend line. 4. If the uptrend line is broken, wait for the next immediate support line. That's the place it will take support. Please note: FinNifty is highly volatile in Tuesday.
NSE:CNXFINANCELong
by pradipandsuvra
Bank Nifty: Tuesday - 01/11/22Levels: Support: 41300, 41000, 40850 Resistance: 41425, 41675 OI Data: Bank Nifty => Price: 41307.9 ATM: 41300 , ITM: 41200, 41100, 41000 , OTM: 41400, 41500, 41600 Highest OI Call in Bank Nifty per OI data: 41500 Highest OI Put in Bank Nifty per IO data: 41000 Nearest Major Resistance in Bank Nifty per OI data: 41500 Nearest Major Support in Bank Nifty per IO data: 41000 Trade setup: 1. For any buy trade, follow the N pattern (let the price run above the level, let it retraces back to the level and let it hold the level as support) 2. For any sell trade, follow the mirror-N pattern (let the price fall below the level, let it pull back to the level and unable to pass through the level as resistance). +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 41305 | 41250 | 41500 | 41650 ----------------------------------------- SELL | < 41200 | 41300 | 41000 | 40800 +++++++++++++++++++++++++++++++++++++++++
NSE:BANKNIFTYLong
by pradipandsuvra
Nifty: Tuesday - 01/11/22Levels: Support: 17980, 17950, 17835 Resistance: 18020 (the current level), 18080-18100 OI Data: ---------------------------------------------------------------------| Nifty => Price: 18012.2 ATM: 18000 , ITM: 17950, 17900, 17850 , OTM: 18050, 18100, 18150 ---------------------------------------------------------------------| Highest OI Call in Nifty per OI data: 18000 (6M) Highest OI Put in Nifty per OI data: 17800 (5.7M) Nearest Major Resistance in Nifty per OI data: 18100 (3.5M) Nearest Major Support in Nifty per OI data: 18000 (4.8M) ---------------------------------------------------------------------| Trade setup: 1. For any buy trade, follow the N pattern (let the price run above the level, let it retrace back to the level and let it hold the level as support) 2. For any sell trade, follow the mirror-N pattern (let the price fall below the level, let it pulls back to the level and unable to pass through the level as resistance). 3. Nifty next major resitance is 18090 (~18100) level. +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 18030 | 17980 | 17100 | 17150 ----------------------------------------- SELL | < 17950 | 18000 | 17850 | 17800 +++++++++++++++++++++++++++++++++++++++++
NSE:NIFTYLong
by pradipandsuvra