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Nifty ends at 17401, have the new bases been formed?NIFTY 50 EOD ANALYSIS 02-12-21 In this post, I talk about the analysis for the day and the trading range for tomorrow. The video discusses with the help of the charts how the indices as well as leading stocks performed during the day and their likely play tomorrow. O 17183.20 H 17420.25 L 17149.30 C 17401.65 EOD +234.75 points / +1.37% India VIX 18.09/-6.99% SGX Nifty 02-12-21 @ 1755h = -60 points FII DII = Not yet available CHART BASED CONCLUSIONS using 5 Minutes Chart Nifty opened with a mild gap up and then immediately made an attempt to break the close of yesterday but found support around the level and then recovered well. It then made a sustained rally more or less uninterrupted till 17325 then fell around 40 points and then again retested the level of 17320+. Then there was a sudden fall in Reliance which brought Nifty below 17300 but it recovered very well and then ended the day closer to the high of the day at 17420. Both the indices have made higher highs, and higher lows. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 104 Top 5 Draggers contributed = 09 Net = +95 BANK NIFTY WEIGHT LIFTERS & DRAGGERS Top 3 Lifters contributed = 170 Top 2 Draggers contributed = 53 Net = +117 POSITIVES Nifty ended just above 17400 and closer to the day high of 17420. The sudden change of colors was due to the sustained efforts of the HDFC twins and the 2 Nifty twins of Infosys and TCS that have helped Nifty come out of the negative sentiments. Bank Nifty managed to close just above 36500. India Vix has fallen 7%. NEGATIVES ICICI Bank and Axis Bank chose to stay away from the party and that is what caused Bank Nifty to underperform. TRADING RANGE FOR 03 Dec 21 Nifty Support = 17000-17200 Nifty Resistance = 17425-500-600. Bank Nifty Support = 35800-36000 Bank Nifty Resistance = 36600-800-37000 INSIGHTS / OBSERVATIONS Bank Nifty OHLC was back again above 36000- the 4 previous sessions had lows above 35000+. This signals that the new base may have been built around 35500-36000. When Nifty falls 300 points there are many reasons out there and the majority starts guessing when it will stop. Now that it went up by 230+ points and ended the day at 17401, everyone started wondering whether this rally would continue! Perhaps that is why, it is said that - A bull market climbs the Wall of Worries! 17400 has been reclaimed after 5 sessions when the close was 17415 - that may well prove to be the next immediate hurdle. Bank Nifty has underperformed Nifty today by 500+ points as it generally rises or falls in the ratio of 1 Nifty point = 3 Bank Nifty points. Nifty soaring 234 points on a day when the European markets are in the red is indicative of the fact that the rally may not sustain and FIIs who may have bought in the Cash market may again Sell tomorrow. So the weekly close and more importantly the open on Monday, 06-12 is going to be crucial. An interesting insight on the Bank Nifty close is given in this tweet: What do you feel about this? Here is the video link -- Thank you, and Happy Money Making! Umesh 2-12-21 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
Swing Trading Opportunities for the week beginning 29-11-21SWING TRADING WATCHLIST FOR THE WEEK BEGINNING 29-11-21 INTENT I will only be sharing the time frame and the scrip name. I will leave the trade basis aside as the intent is to engage the reader in learning the basics of finding good scrips. You can have a look at the charts and place your favorite indicators and check out if any of these fit your trade plan. Some readers feel that I am simply listing down several scrips so that if they go up I can claim so. This is not the case - I am not here to score any points. I am sharing my weekly analysis and if you like it, read it and if you do not agree, I am fine with that. ON MY WATCHLIST FOR THE COMING WEEK For you to get a better perspective of the reasons behind this week’s post, I recommend that you read/watch the video on the Weekly Analysis of Indices posted by me separately. This week is different than usual as we had only a 4 day week trading week whereas the world was open on Friday as well and a lot has happened on that day in the global markets due to reimposed lockdown in Austria and likely actions by other European countries. CAUTION - Please read this week’s post bearing in mind the fact the market situation has already changed in a day and it may further change by the time you have read and watched the video. So please take due care and apply due diligence before making any buy decision in any of the scrips listed here. This is a weekly review of the available opportunities so my time frame for analysis moves from Daily to Weekly and from Hourly to Daily. Here are the likely candidates for the week - SECTORS LOOKING GOOD FOR LONG POSITIONS- Auto Commodities IT Media Pharma If the Covid related negative sentiment persits during the week, IT, Media and Pharma are likely to do better than the other sectors. There are many sectors such as Private Banks and PSU Banks that have closed around their 50 Weekly MA, however, I have not included them as these would be most sensitive to any negativity that may set in the sentiments. WEEKLY TIME FRAME- FOR LONG POSITIONS - Nifty Spot at 17006 Federal Bank HDFC HUL Infosys Reliance Tata Consumer Tata Steel UPL Ajanta Pharma Emami Ltd NCC Laurus Labs Lupin Tata Communications ZEEL Alembic Pharma The market is at an uncertain level and as I write this, Maharashtra has kicked in RT-PCR tests or full vaccination as the barriers to entry into the state. This clearly shows that this time around, no one wants to be taken off guard and the market may react suitably as Mumbai is the Commercial capital of the country. I may / may not take these trades as not every opportunity should / can be traded. I believe that it is better to help someone learn the technique of selecting good scrips than giving tips - in any case, I am not SEBI regd so I do not have the authority as well to do so. In case you are able to spot the setup and the trade basis, please do share so that together we can learn. Here is the Video Link: Thank you for your time and Happy Learning, 27-11--21 Disclaimer -- This post is shared for learning and educational purposes only and in no way acts as a recommendation. I am not a SEBI regd trader so please either decide your trades/investments on your own or consult your financial advisor before making any trades.
NSE:TATACOMMLong
by AVENUESOFINVESTMENT
Indices lose early gains, end the day on a flat noteNIFTY 50 EOD ANALYSIS 15-11-21 In this post, I talk about the analysis for the day and the trading range for tomorrow. The video discusses with the help of the charts how the indices as well as leading stocks performed during the day and their likely play tomorrow. O 18140.95 H 18210.15 L 18071.30 C 18109.45 EOD - +6.70 points / +0.04% SGX Nifty 15-11-21 @ 1840h = +28 points FII DII = +1948 Crores CHART BASED CONCLUSIONS using 5 Minutes Chart Nifty opened gap-up and hit an intraday resistance around 18200 and then never made any serious efforts to go back up again. Nifty made a higher high and a higher low. Another key point was that Nifty OHLC was above 18050. Nifty ended on a flat note thanks to the weighted average close method. It is hard to say if Nifty is weaker or Bank Nifty is weaker. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 57 Top 5 Draggers contributed = 64 Net = -7 POSITIVES Nifty OHLC was above 18050. The sleeping giant ITC saved the day for Nifty along with Kotak Bank, TCS, and Infosys. Bank Nifty somehow managed to close above 38700. HDFC made a good up move at the open and immediately fell by 40+ points but managed to close at 3000. FII-DIIs are both net buyers which is a good sign on a day when the indices ended flat. NEGATIVES The inability of indices to stay at higher levels is not a good sign. Despite HDFC Bank being positive, it lacked buying interest for it to lift the indices. TRADING RANGE FOR 16-18 November 2021 Nifty Support 17800-900 Nifty resistance 18150-18200-18250-300 Bank Nifty Support 38000-200-400 Bank Nifty Resistance 38800-39000-39200 INSIGHTS / OBSERVATIONS Bank Nifty finding it hard to clear 38900 on spot and 39000+ on Futures. During the day at many stages, it appeared that there are selling orders getting executed by the big players as some of the key stocks that I was tracking went down together, then halted for a few minutes before going back up again and then again coming down. This happened a few times. I recollect having read on similar lines in one of the books that related to using the price action to read what the bigger players were doing in the market. I am unable to recollect the name of the book. In technical analysis, it is generally stated that buy what is going up and sell what is going down. In my view, this does not hold good for HDFC Bank. In its case, it should be the other way. Buy when it is going down and sell when it is going up. It rarely follows a consistent price action - it may be a good scrip for patient investors, but for a trader like me, I would rather trade in other banks than in HDFC Bank. The intent is to make money and not show loyalty. Today also, Bank Nifty ended below 765-775. What do you feel about this? Here is the video link -- Thank you, and Happy Money Making! Umesh 15-11--21 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
Swing Trading Opportunities for the week beginning 15-11-21SWING TRADING WATCHLIST FOR THE WEEK BEGINNING 15-11-21 INTENT I will only be sharing the time frame and the scrip name. I will leave the trade basis aside as the intent is to engage the reader in learning the basics of finding good scrips. You can have a look at the charts and place your favorite indicators and check out if any of these fit your trade plan. Some readers feel that I am simply listing down several scrips so that if they go up I can claim so. This is not the case - I am not here to score any points. I am sharing my weekly analysis and if you like it, read it and if you do not agree, I am fine with that. ON MY WATCHLIST FOR THE COMING WEEK This is a weekly review of the available opportunities so my time frame for analysis moves from Daily to Weekly and from Hourly to Daily. Here are the likely candidates for the week - SECTORS LOOKING GOOD FOR LONG POSITIONS- Nifty 100 Nifty 200 Consumption FMCG IT WEEKLY TIME FRAME- FOR LONG POSITIONS - Nifty Spot at 18102.75 Adani Ports Asian Paints Britannia HCL Tech Hindalco Nestle TCS Wipro IDFC First Bank Damia Bharat Force Motors Hind Petro ICICI Pru Life IRCTC Jubl Food Naukri Sanofi Nazara As compared to the last week there are fewer opportunities as many of the sectors have already moved up during the week and some have become weak during the week. This means that as and when there is further buying in these sectors, Nifty may get a push-up. I may / may not take these trades as not every opportunity should / can be traded. I believe that it is better to help someone learn the technique of selecting good scrips than giving tips - in any case, I am not SEBI regd so I do not have the authority as well to do so. In case you are able to spot the setup and the trade basis, please do share so that together we can learn. Here is the Video Link: Thank you for your time and Happy Learning, 14-11--21 Disclaimer -- This post is shared for learning and educational purposes only and in no way acts as a recommendation. I am not a SEBI regd trader so please either decide your trades/investments on your own or consult your financial advisor before making any trades.
NSE:NAZARALong
by AVENUESOFINVESTMENT
Simple Trade Setup | INFOSYS | 11-11-2021 [ INTRADAY]NSE:INFY So far, all the levels are working perfectly as per given in previous trade setup. Most of all the Levels and trade setup remains same as per previous. Trade Setup for Date 11-11-2021: 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
NSE:INFY
by Trading_hawk
4
Simple Trade Setup | INFOSYS | 09-11-2021 [ INTRADAY]NSE:INFY Observations: 1) On daily time frame, we can see that it took good support from 21DMA and closed above it. 21DMA is placed at 1722.12 level. Please refer below chart : 1 day Time Frame. ------------------------------------- Trade Setup for Date 09-11-2021: 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
NSE:INFY
by Trading_hawk
Simple Trade Setup | INFOSYS | 02-11-2021 [ INTRADAY]NSE:INFY Observations: 1) On daily time frame, we can see it has been taking resistance from 50DMA. 50DMA is immediate resistance and placed at 1711.50 level. Please refer below chart : 1 day Time Frame. From chart we can see that range of 1710-1720 is critical resistance zone. Sustainable breakout of it will make it bullish again. Please refer below chart : 1 day Time Frame. ------------------------------------- Trade Setup for Date 02-11-2021: 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
NSE:INFY
by Trading_hawk
Simple Trade Setup | INFY | 26-10-2021 [ INTRADAY]NSE:INFY All the levels and most of the trade setup still remains the same as per previous. Trade Setup for Date 26-10-2021: 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
NSE:INFY
by Trading_hawk
Simple Trade Setup | INFOSYS | 25-10-2021 [ INTRADAY]NSE:INFY Observations: 1) On daily time, we can see that after 3 days of profit booking, it took support from 50DMA and managed to close above it. Also, if you remeber earlier, level of 1700 is major critical support. As far as it is giving closing above it, it has chance to start bullish run again. Major immediate resistance is at 1760 level. Please refer below chart : 1day Time Frame. ------------------------------------- Trade Setup for Date 25-10-2021: 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
NSE:INFY
by Trading_hawk
Simple Trade Setup | INFOSYS | 19-10-2021 [ INTRADAY]NSE:INFY Trade Setup for Date 19-10-2021: Most of the levels will remains the same as per previous setup. 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
NSE:INFY
by Trading_hawk
9
Simple Trade Setup | INFOSYS | 18-10-2021 [INTRADAY]NSE:INFY We saw on 14-10-2021, after gap up opening and initial 15min trade, it started falling down with profit booking. We observe that money rotation goes from IT sector to BANK and BANKNIFTY made new ATH. And FII were net buyers and becasue of it HDFC and HDFCBank shot up. Observations: 1) On 1 day time frame, we can see good thing is that it took support from 50DMA which is placed at 1700.51 level. 1700 level will be now very critical support level. Sustainable breakdown of 1700 level will lead it to more profit booking. But overall trend is positive for INFY. One who are holding equity can continue holding it. Please refer below chart : 1day Time Frame. ------------------------------------- Trade Setup for Date 18-10-2021: Most of the levels will remains the same as per previous setup. 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
NSE:INFY
by Trading_hawk
29