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TRADING Vs INVESTING - PART 1A follower asked me what is the basic difference between the two and whether people with a smaller capital base should invest than trade. So I thought of sharing my thoughts on the subject which may vary from what the reader has in mind. It is a matter of perspective and beliefs and views are more likely to be diverse than alike. I propose to share my thoughts over the next few weekly articles which you would read during the weekend. Whenever possible, the article would also have a YouTube video link that shows how things work in the real world. This approach would help you understand the concepts well. Prerequisites to commence Trading as a Beginner-- Demat and Trading account. Capital. Basic knowledge of Technical Analysis or similar trading approach. Trading Methodology Trading Plan. These are the basic things to be put in place. Prerequisites to become an Investor-- Demat Account . Capital. Investment Approach. These are the basic things to be put in place. What is the Key Differentiator between Trading & Investing? A trader wants to capture the short-term movement in prices of one or many instruments that get traded on the exchange/s. An Investor wants to deploy his capital to build wealth by compounding the returns over a long period of time. Should I become a Trader or an Investor? In my view, there is no right answer for this. However, I believe that to become an investor, one needs to have a good amount of capital base as investing is more of a waiting game. It is a marathon and not a sprint. If I invest say, 3L today, I cannot expect the investment to double in the next 6 months unless, of course, I end up investing in some scrips that end up witnessing a dream run. Whenever people talk about investing, by default, they take examples of Warren Buffet, Rakesh Jhunjhunwala, and R K Damani. It is a general perception that these people are investors and not traders. However, if you dig deeper you will realize that Warren Buffet is one of the biggest traders in Options. RJ and RKD have publicly shared that they have been able to become investors only because of their consistent profits as traders. In trading, thanks to the power of leveraging, it is possible to gain good amounts of money when the trade works in your favor. Monies so gained once invested back in the market start compounding as you take another set of trades with your trading capital and let the gains get invested and like that the series goes on. I am aware that there are many “investors' ' who look down on trading as gambling and time consuming and addictive. More likely or not they too were once a trader as unless a person is born with Silver and Golden spoon in mouth, s/he cannot become an investor from base Zero especially in the current situations. This is universally true and you may dig deep in case you find my lines to be biased towards trading. Should I worry about the fact whether I am a Trader / Investor? I believe that I am in the stock market to make money. Now if someone fashionably wants to state that I am here to create wealth it is stating the same thing in a different way. To create wealth, one needs to make money, and does it really matter whether you make money by trading or investing? Similarly, does it really matter whether you make money by trading in Equities / Options / Futures / Commodities and the like? Money is money and the instrument you use should not decide whether it is good or bad - of course, the manner in which you make money should be legit. But then What Should I do? In case you are still not clear, in my view, the following should be your approach -- If your capital is less than 5L and you are not able to save enough on a regular basis, you should focus on trading - it can be intraday/swing / positional. If your capital is more than 5L and you are able to add to your capital on a monthly basis, investing should be pursued along with positional trading. Remember, there is no right answer as situations change from person to person and even for the same person from time to time. Things have become more difficult and dynamic for an average person in the last 1.5 years so please do not get guided by everything that you hear, read and watch. Gather all the information, study what you can on your own and then decide your Money Making Goals, and then proceed on the journey that you think fits your way of leading life. Your money should be your concern and your joy and there is no one better than you to decide about what should be or what should not be done with it. In the next part, I will write more about “Investing”. In case you have any thoughts/queries, please share and I will be happy to respond to the extent I can. Happy Money Making, Umesh
NSE:NIFTY
by AVENUESOFINVESTMENT
HDFC twins, KOTAK BANK throw their weight in and end the expiry NIFTY 50 EOD ANALYSIS -29-07-21 IN SUMMARY Open / High / Low / Close 15762.7 / 15817.35 / 15737.8 / 15778.45 Trading Range Low to High: 80 points Likely Max Realistic Opportunity @ 50%: 40 points India VIX: 12.95 / -5.41% FII DII activities: +1190 Crores CHART BASED CONCLUSIONS Nifty was made to end the expiry below 15800. A psycho victory for the bears and a sweet victory for the 15800 and above Call Writers. The range for yesterday was 180 points and today it was only 80 points. The expiry fireworks took place on Wednesday and today was a painstaking and option premium decaying expiry. Once again, Nifty ended around the opening price and it also ended the series on an indecisive note with a Doji candle on the monthly charts. We have only made a higher high and higher low, but we are still not yet out of the haunting zone of 15835-50. TOP 3 LOSERS MARUTI - The car made a nosedive after losing support of the 50 as well as 200 DMA and halted at the FIB level of 6936-50. There may be some more weakness as has been experienced by almost all the scrips that declared its results this season.If that happens, it may head towards 6800 from where the earlier bounce was made in a very smart manner. ITC - Breached the 50 DMA and is now hoping to get support from 20 DMA and if the sentiment is bad, it may retest 200 DMA around 200. A scrip that is extremely range bound and possibly making the option writers happy. BAJAJ AUTO - After breaching its 50 DMA around 4100, it has been consistently falling and is now within a striking distance of its 200 DMA around 3675. So tomorrow’s price action is likely to decide if it is taking support or losing it. TOP 3 GAINERS HINDALCO - What a roaring move and what a convincing manner to break the earlier ATH which could have acted as a resistance. The scrip even outpaced TATA STEEL and placed it on the second spot. We have to see how far can this rocket go! TATA STEEL - It is good to see Metals becoming a rocket! Yet another ATH and it is heading higher. BAJAJ FINSERV - While the auto sibling has been consistently losing, this one has been consistently rising. Making ATH close regularly and that is how it should be. POSITIVES Nifty ending above 15760-770 resistance line is a good thing. Apart from the Metals family, SBIN, RELIANCE and INFOSYS helped Nifty remain at higher levels amidst expiry sell off that is customary in the last hour. DIIs bought in excess of 2000 Crores to support the market which indicates that the short term up side is seen at 2-3%. NEGATIVES Yet another day when Nifty failed to hold on to the 15800+ levels and closed well below 15800. Such closes make it harder for the bulls to bounce back. FMCG majors, HDFC twins, KOTAK and AXIS BANK dragged the indices and when HDFC twins are not on your side, this is what happens. HDFC BANK barely managed to close above the earlier close, but is finding it hard to cross the 200 DMA which has been broken. So it looks like as if it is waiting for help from its sibling HDFC whose results are due on 02 Aug or from the other peers many of whom are themselves struggling. TRADING RANGE FOR 30-07-21 Nifty support for now is at 15700-750. And resistances every few points. No point mentioning those again and again. BANKNIFTY support range 34200-400 and resistance 34800-35000. Unless there is a break out or down, the range-bound behaviour is likely to continue. INSIGHT / OBSERVATIONS Private banks other than ICICI BANK would need some kind of trigger to lift them from the levels where they are - actually, these make a good investment opportunity. FIIs keep selling relentlessly and DIIs keep buying. This is quite interesting as the DIIs are betting on India and FIIs seem to be having some other plans. Let us see where Nifty opens the account in Aug series and whether the FIIs become Net buyers from tomorrow. Thank you, and Happy Money Making! Umesh 29-07-2021. P.S. If you choose to comment on the above, please do so with your analytical view rather than merely passing a comment. Your presentation of the view held by you would help other readers as well. NOTE -- This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title as well as its contents can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right.
NSE:NIFTY
by AVENUESOFINVESTMENT
Nifty back in the loop of 15700-15835NIFTY 50 EOD ANALYSIS -27-07-21 IN SUMMARY Open / High / Low / Close 15860.5 / 15881.35 / 15701 / 15746.45 Trading Range Low to High: 180 points Likely Max Realistic Opportunity @ 50%: 90 points India VIX: 13.23 / +6.27% FII DII activities: -731 Crores CHART BASED CONCLUSIONS Nifty ended the day as if today was 19-7-21, just around the same level. This is becoming a regular feature nowadays. With the increased VIX, Nifty finally expanded its range to 180 points and remained downward for the most part of the day except for the relief rally around 1300 hrs and a mini-rally after the sell 0ff in the last one hour. It appeared that call writing was heavy even at 15750 as the level could not be breached. Nifty would need a great amount of effort from the heavyweights to bring it back on track. With only 2 sessions to go in this series, 16000 is unlikely to be attained unless there is a strong gap-up followed by a short covering in the next 2 sessions. TOP 3 LOSERS DR REDDY - A massive 10%+ fall in the scrip dented the spirits even though it is not a heavyweight. This fall has wiped out the gains of the last several weeks. CIPLA - One more from the Pharma sector that washed ashore and broke 50 DMA decisively. The Pharma sector was affected today but the top 2 losers from Pharma in Nifty is something quite an unusual scenario especially due to the fact that the sector was strong post-Covid. AXIS BANK - Like all Nifty 50 members, this one too fell sharply post results. This seems to be the trend now and especially on the day after the results have been announced. TOP 3 GAINERS HINDALCO - A strong follow-up moves from the scrip after a good performance on 26-7 and is now heading higher into the resistance zone. The RSI on the daily chart is supporting above 60 so it may well be able to create a new ATH. SBI LIFE - The star performer of 26-7 did well today as well though it witnessed some sharp down move, it recovered very well and made yet another ATH close. TATA STEEL - A gap-up opening and it sustained the negativity in the market making it close at yet another ATH. RSI is also looking good so this is heading higher in the coming session's subject of course to its results. POSITIVES Just because I have a section where I am forced to write that INFOSYS closed above 1600 is a positive sign. Nifty managed to close above 15700 is also a positive sign. Of the Banknifty community, SBIN showed good strength maybe as its result is not yet out. NEGATIVES Nifty has broken 15800 yet another time and the bear camps in the 15835-50 may be dancing with joy as they succeeded in dragging Nifty back to 15700 after a modestly good start. AXIS BANK, KOTAK BANK, HDFC, ITC, and RELIANCE dragged Nifty by the collar and made it hard for the bulls to bring it back from breaking the 15700 lines. FIIs are still Net Sellers at 1400+ Crores. TRADING RANGE FOR 28-07-21 The support line for Nifty now moves down to 15650-700 with the resistances being 15750-775-800-15835-50-900. For any future bullishness, a close above 15900 is essential. 34400-600 is still the support area for Bannifty with 35200-35300 as the resistance band. INSIGHT / OBSERVATIONS RELIANCE tested its 200 DMA and also the FIB support at 2040. This was long overdue and hopefully, this will lead to reduced negativity from hereon. HDFCBANK closed below 200 DMA on 26-7 and is on the line today. And its sibling HDFC broke its 200 DMA today so the reaction tomorrow is going to be interesting. In comparison to HDFCBANK, HDFC is a fast-mover on either side of its day. FMCG scrips are under pressure but the wholesaler of FMCG goods DMART, is scaling higher highs. This is quite an interesting situation to have and is open to interpretation. Thank you, and Happy Money Making! Umesh 26-07-2021. P.S. If you choose to comment on the above, please do so with your analytical view rather than merely passing a comment. Your presentation of the view held by you would help other readers as well. NOTE -- This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title, as well as its contents, can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right.
NSE:NIFTY
by AVENUESOFINVESTMENT
Nifty at the mercy of HDFC twins & RelianceNIFTY 50 EOD ANALYSIS -26-07-21 IN SUMMARY Open / High / Low / Close 15849.3 / 15893.35 / 15797 / 15824.45 Trading Range Low to High: 96 points Likely Max Realistic Opportunity @ 50%: 48 points India VIX: 12.45 / +5.87% FII DII activities: -825 Crores CHART BASED CONCLUSIONS Nifty ended the day as if today was 22-7-21, just around the same level. 23-7 seems to have been ignored as that is how it appears on the charts. Nifty range was also less than 100 and extremely choppy as it was at the mercy of the HDFC twins and RELIANCE. The only consolation is that Nifty closed above 15800 so one more instance of 15835-50 resistance working like a rock-solid barrier. The gap created on 23-7 has now been filled and Nifty appears to be taking support from the 20 DMA. The coming 2 sessions would confirm if it is indeed a support or turns into a resistance. TOP 3 LOSERS JSW STEEL - faced resistance in the zone and nosedived and is just short of its 50 DMA. RSI is also sloping down so the steam is losing out. WIPRO - Profit booking seems to have kicked in at the top as the scrip is # 2 on the list though the low of 23-7 is intact which is a good sign. RSI is also above 60 on daily charts so the scrip is still bullish. RELIANCE - It hot the resistance at 50 DMA and also broke the 20 DMA line and closed near the day low and just below the crucial 2080 line. It is yet again around the 20 WMA which is a very important support area and if this is not respected, Nifty would also slide sharply. So all eyes are on this counter for the next 2 sessions. TOP 3 GAINERS SBI LIFE - Another ATH close for the scrip and what a nice case study of a scrip taking support at 200 DMA, 20 DMA, and 50 DMA and then making regular higher highs and higher lows. This is heading higher from here. BAJAJ FINANCE - A nice strong-up move over the last 3 sessions has taken it to higher levels and is now poised for the further upside as the momentum is also with the scrip. HINDALCO - A good bounce from 50 DMA yet again and the scrip is above 400. There is upside potential but a close above 408-410 would help it head higher as there is stiff resistance around that area. POSITIVES A nifty close above 15800 is a big positive as RELIANCE almost fell 2% from the high for the day. KOTAK BANK seems to have finally breached the barrier around 1720-30 at least for the day and on expectations of a good set of numbers. This has helped Nifty in staying above 15800. INFOSYS finally closed above 1600 and made yet another close at ATH. It has been crawling since the last several sessions so we need to see if it holds the 1600+ level as for now, it is acting as a neutralizer for the bearishness shown by the HDFC twins and RELIANCE. NEGATIVES One more instance of a close hampered by the rock-solid barrier of 15835-50. Near ATH, an index is made to fight for survival is not a good sign. RELIANCE, HDFC twins were joined by MARUTI ahead of its results and even SBIN joined them in dragging the indices. FIIs have sold for more than 2,000 Crores so the reduction in sell-off was short-lived. TRADING RANGE FOR 27-07-21 The support line for Nifty remains at 15700-750 with the resistances is 15835-50-900. For any future bullishness, a close above 15900 is essential. 34400-600 is still the support area for Bannifty with 35200-35300 as the resistance band. INSIGHT / OBSERVATIONS RELIANCE, ICICI BANK, and ITC have produced a good set of numbers despite all odds. So I am not sure what the expectations are from the bigger participants. If such numbers cannot trigger upside moves in RELIANCE then what would it take for the giant to awaken? In such situations, KOTAK BANK getting up from the slumber is a welcome change. Thank you, and Happy Money Making! Umesh 26-07-2021. P.S. If you choose to comment on the above, please do so with your analytical view rather than merely passing a comment. Your presentation of the view held by you would help other readers as well. NOTE -- This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title as well as its contents can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right.
NSE:NIFTY
by AVENUESOFINVESTMENT
Will Nifty Succumb to 15835-50 again?NIFTY 50 EOD ANALYSIS -22-07-21 IN SUMMARY Open / High / Low / Close 15736.6 / 15834.8 / 15726.4 / 15824.05 Trading Range Low to High: 98 points Likely Max Realistic Opportunity @ 50%: 49 points India VIX: 11.89 / -9.99% FII DII activities: +700 Crores CHART BASED CONCLUSIONS A 202-point recovery reads interesting. However, in effect, we have ended the day around the high of 19-7-21 with the only change that close is higher than that of 19-7. A strong gap=up opening with a steady rise and the usual expiry type of nosedive and then recovery and closed just below the day’s high and the notorious 15835 levels All weak hands have been shaken out. But the short-term bears have not yet given up. So it is important to see where the weekly close is. TOP 3 LOSERS HINDUSTAN UNILEVER - The FMCG giant made a move that covered the last several days’ range and fell sharply from the high of 2508 to end near day low of 2378. This is a big move ahead of its results. Looks like one more company shaking off expectations and bringing the price to the real level. ASIAN PAINTS - The scrip that emerged as a strong leader on a red day 20-7-21, could not even test the close of that day and fell. The momentum is still high so this may be the usual profit booking. BAJAJ AUTO - Somewhat similar to HUL, but it closed better than HUL and is still within the zone, but the momentum has died down. So it will need a recharge of batteries before it can move up further. It may also get attracted towards 200 DMA which is around 3700 should bearishness prevail. TOP 3 GAINERS TECHM - A towering move by the IT major which took support from its 20 DMA rose after making consolidation every few days. This is a nice move with the momentum catching up above 60 RSI. JSW STEEL - A move like today was necessary for it to move out of the wall like resistance created by 50 DMA which is now likely to act as a support. RSI is below 60 so the scrip may face some headwinds in the coming sessions. BAJAJ FINANCE - A classic 50 DMA bounce after its results and the move is somewhat similar to JSW STEEL in the sense that it still has some headwinds ahead and RSI still below 60. POSITIVES INFOSYS, ICICI BANK, RELIANCE & HDFC took it upon themselves to bring the index above 15800 and close it. While INFOSYS and ICICI BANK showed strength from the open, it was RELIANCE who suddenly woke up from the slumber ahead of its results tomorrow to make all the difference and help lift Nifty after it fell in late trades on the expiry day. All key heavyweights including HDFC BANK except HINDUSTAN UNILEVER ended in non-negative itself is a big plus for the index. FII-DII net buyers +600 Crores. NEGATIVES Nifty fell in the PM session only because of Banknifty retracing more than 300 points from the day high of 34989 - a classic psycho resistance of 35000. Barring ICICI BANK, none of the heavyweight banks performed the way they should have considering the fact that there was good positive sentiment today. Banknifty yet again underperforming by almost 300+ points is going to make things hard for Nifty. TRADING RANGE FOR 22-07-21 The support line for Nifty is now moved up to 15700-750 with the resistances ar 15835-850 and above until it makes a close above 15950. 34300-3400 is now the support area for Bannifty with 35000-35200 as the resistance band. INSIGHT / OBSERVATIONS The Nifty lot size is now 50 for all FNO contracts. TCS is ready to move up but stray news re its spending a few Million USDs on marathon seems to have dampened the spirits. But this is how TCS is. It moves only when it has to and the day it moves, it does not look back. When is the biggest question? KOTAK BANK is witnessing severe pressure around 1720-25 levels and keeps getting dragged to lower levels close to 1700-1705. There is something that is not visible from the retail vision. Thank you, and Happy Money Making! Umesh 22-07-2021. P.S. If you choose to comment on the above, please do so with your analytical view rather than merely passing a comment. Your presentation of the view held by you would help other readers as well. NOTE -- This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title, as well as its contents, can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right.
NSE:NIFTY
by AVENUESOFINVESTMENT
Is Nifty foreseeing something that is not audible/visible?NIFTY 50 EOD ANALYSIS -20-07-21 IN SUMMARY Open / High / Low / Close 15703.95 / 15728.45 / 15578.55 / 15632.1 Trading Range Low to High: 129 points Likely Max Realistic Opportunity @ 50%: 65 points India VIX: 13.21 / +4.18% FII DII activities: -1,961 Crores CHART BASED CONCLUSIONS -- Pre Covid ATH had given similar gap-down candles and even now we have similar gap-down candles from the present ATH. I have placed arrow marks to show the same. This is not a good sign - the undercurrent indicates a build-up of fear emerging from the global Covid situations. Intentionally, I have shown a 15 minutes chart for the last 1 month and the prices seem to be going all over. Though a bull market climbs a wall of worry, the distribution of the price range is indeed worrying as it does not show strength which is essential for a market to be termed as a bull. TOP 40 LOSERS 40 out of 50 scrips in Nifty 50 ended in negative. So I have changed the header for this section as it will be unfair to simply pick the top 3 and talk about them. However, for the sake of good records, these 3 names are - HINDALCO, INDUSIND BANK & TATA STEEL. In all, there were 13 scrips which fell more than 2%! Clearly, there is something going wrong somewhere - I do not want to speculate the reason, but this is not one would expect from a bull market. TOP 3 GAINERS: ASIAN PAINTS - Amidst extreme pessimism, the scrip registered a towering presence with a perpendicular move which was better than the previous such move of 14-5-21 and from there, the scrip moved 400+ points. ULTRATECH CEMENT - By EOD, it almost gave up half of the gains registered so profit booking may have kicked in, however, it nevertheless registered another ATH close which indicates that the scrip is well cemented at the higher levels. HINDUSTAN UNILEVER - The FMCG giant helped by throwing its weight in and stopping Nifty from falling further. Like Ultratech, it too has given up some of the overall gains made during the day. POSITIVES Finding positives in the last 3 days has been a test of being an Optimist. INFY and TCS did not end in red and closed in mild green itself is a big plus. TCS closed above 3200 and made a smart recovery from lower levels while INFY felt shivers even before touching the 1560 resistance line and barely managed to close at 1550. RELIANCE showed resilience in the AM session when Nifty was in a sell-off mode. The fact that it is trading still above 2080 gives some indication that its Q1 numbers may not be as disappointing as the other Q1 numbers have been. NEGATIVES 40/50 in red. There cannot be a greater negative than this. And to add fuel to the fire, the Banknifty family is all red with the least redness being shown by KOTAK BANK at -1.17%. HDFC twins, ICICI BANK, and AXIS BANK made it all the more harder for the indices to stay away from being red. Nifty closing at 15632 and Banknifty breaching 50 DMA and closing below 34500 is a big negative. FIIs sold in excess of 2,500 Crores. So some more weaknesses in the store. TRADING RANGE FOR 22-07-21 15500-550 resurfaces as the last line of defense for the bulls as Nifty made a low of 15578 on 20-7. Resistances are dime a dozen and will remain so unless broken. A Nifty close above 15950 is the only way these hurdles would become the support lines. 34200-34300 is now the support area for Bannifty with 34800-35000 as the resistance band. INSIGHT / OBSERVATIONS: Nifty is breaking supports as if they never existed. And takes resistance even at every available line where it took support earlier. A significant spike in VIX in AM and post PM recovery there was a relief in the VIX which suppressed option premium - a boon for the Option Sellers. Whenever there is a sharp fall and extreme pessimism, the FII-DII numbers get delayed - as if NSE has to work harder on such days. RELIANCE and KOTAK BANK witnessed extensive trading around the 2098-2100 and 1700-1705 price range respectively. The global markets were up on 20-7 and are up on 21-7 as well. Yet, SGX Nifty is trading at 15594. From my reading, it is under performing by 100-125+ points. SGX Nifty is only an indication of the sentiment and not the only indicator. But if the difference remains, then there is something wrong with the domestic cues that are neither audible nor visible. Let us see what is in store on the last expiry with the lot size 75. Thank you, and Happy Money Making! Umesh 21-07-2021. P.S. If you choose to comment on the above, please do so with your analytical view rather than merely passing a comment. Your presentation of the view held by you would help other readers as well. NOTE: This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title, as well as its contents, can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right.
NSE:NIFTY
by AVENUESOFINVESTMENT
2
📊 Infosys At Resistance 🎯NSE:INFY whole IT sector at resistance and that i said few days back as well that IT sector Heading towards resistance. as per this pattern Potential Reversal Zone is PRZ 1 :- 1574.10 PRZ 2 :- 1584.90 Stop Loss :- 1635.10 so ultimately from PRZ 1 to Stop loss this whole Zone can act as resistance and to trade on this pattern you should have knowledge of reversal trading as Harmonic is all about ultimate reversal trading strategy. advantage here in this chart :- reversal candle at PRZ so we might get reversal trade in upcoming session disadvantage in this chart :- as per this Harmonic pattern stop loss is quite big so trade only on reversal. Learn . Apply . Grow ******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.
NSE:INFYShort
by linesandlevels
4