Bank Nifty crossed the level of 50,000 for first time ever ...!The market witnessed the session of june 3 with Robust gains,
following Exit polls results.
After Big Gap up opening Bank Nifty remained in postivie momentum & closed near 51000 level
A Big Bullish candle is formed on daily chart
The imp upside hurdle is placed around 51200 level
whereas downside support is around 50000 zone
Track for price to form Price Action Patterns at Imp Levels,
However market may show volatility during the Election Results on june 4
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Intraday
Nity made New All Time High after Robust Gap up openingThe market witnessed the session of june 3 with Robust gains,
following Exit polls results.
After Big Gap up opening Nifty remained in postivie momentum & closed near 23250 level
A Big Bullish candle is formed on daily chart
The imp upside hurdle is placed around 23400/500 level
whereas downside support is around 23000 zone
Track for price to form Price Action Patterns at Imp Levels,
However market may show volatility during the Election Results on june 4
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*For Educational Purpose
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Broadening Wedge pattern breakout in COLPALCOLGATE PLAM (INDIA) LTD
Key highlights: 💡⚡
✅On 1 Hour Time Frame Stock Showing Breakout of Broadening Wedge Pattern.
✅Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 2746+.
✅Can Go Long in this Stock by placing a stop loss below 2668-.
Bank NIfty relatively outperformed in last week Bank NIfty also gave negative returns in last week but relatively outperfomed
Bank Nifty witnessed correction in 1st half
& some recovery in 2nd part of last week
Upside hurdle is placed near 49200/400 level
whereas imp downside support zone is around 48400
Market may show volatility during the Results of elections
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Nifty witnessed correction in last week from record HighsNifty remained in selling mode for most part of the week
A Negative type candle has formed on daily chart
Until Nifty holds above prev week low, recovery towards 22650/700+ is possible
However if holds below 22350, correction towards next support could come
Election Results can create Volatility in the Maket
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BHEL was in sideways trend last week Stocks to Keep in Radar for Next Week
⏩ SBIN
⏩ NMDC
⏩ BHEL
⏩ DLF
BHEL is in corrective moce after making recenrt highs
If sustains above 300 level, it may try to test recent highs
However in case of Bearish pattern at higher level, it may come back to prev week's range
Important downside support is around 280 & then 270 level
whereas upside hurdle is aroud 320 level
*Election Results can create Volatility in the Maket
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*For Educational Purpose
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DLF Is showing continues correction from upper levels Stocks to Keep in Radar for Next Week
⏩ SBIN
⏩ NMDC
⏩ BHEL
⏩ DLF
DLF is forming lower lows from past few weeks
now it has come around prev support level
Wait for price to form price action pattern
if decisively sustains outside the range of 780 to 850,
directional movement could be possible
However in case of Bearish pattern at higher level, it may come back to prev week's range
*Election Results can create Volatility in the Maket
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*For Educational Purpose
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Nifty is showing correction ahead of Exit Polls Results Nifty showed correction for the 5th straight session,
This is also the longest losing streak in last 7 months
After Gap down opening, it remained in negative trend throughout the session
A Bearish candle is formed on daily chart
The imp upside hurdle is placed around 22630 level
whereas downside support is around 22350 zone
Track for price to form Price Action Patterns at Imp Levels,
However market may show volatility during the last phase of elections
Keep Tracking Charts
*For Educational Purpose
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Bank Nifty showed Recovery today & closed with gains Bank Nifty showed opposite direction movement as compared to NIfty index today
The Index bounced sharply from 48300 level after market opening & remained in
positive zone.
A Positive candle is formed on daily chart
The imp upside hurdle is placed around 49100 level
whereas downside support is around 47300/200 zone
Track for price to form Price Action Patterns at Imp Levels,
However market may show volatility during the last phase of elections
Keep Tracking Charts
*For Educational Purpose
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Indiamart - long setupCMP 2530 on 29.05.24
It can be seen on the charts that the price has reversed many times from the trendline in the last around 2 years. If the pattern continues, may go bullish again.
The risk-reward ratio is quite good at this level.
This setup fails if the price sustains below 2475.
Targets will be 3000 or even more.
This is only for learning and sharing purposes, not trading advice in any form.
All the best.
[INTRADAY] #BANKNIFTY PE & CE Levels(28/05/2024) Today will be gap up opening in BANKNIFTY. After opening if banknifty sustain above 49050 level then possible upside rally of 400-500 points upto 49450 level & this rally can extend another 400 points if market gives breakout 49550 level in todays session. Any Major downside only expected in case banknifty starts trading below 48950 level. also possible reversal downside 49450 level.
Bearish Pennant breakdown in BERGEPAINTBERGER PAINTS INDIA LTD
Key highlights: 💡⚡
✅On 2 HOUR Time Frame Stock Showing Breakdown of Bearish Pennant Pattern .
✅Strong bearish Candlestick Form on this timeframe.
✅It can give movement up to the Breakdown target of 438-.
✅Can Go short in this stock by placing a stop loss above 499+.
#NIFTY Intraday Support and Resistance Levels -24/05/2024Nifty will be gap up opening in today's session. After opening nifty sustain above 22990 level and then possible upside rally up to 23110 level in today's session. in case nifty trades below 22940 level then the downside target can go up to the 22820 level.
Metropolis - Keep On RadarCMP 1817 on 02.05.24
The stock price has tried several times in the last 12 months to cross the resistance levels around 1800. This time consolidating near the zone. If crosses this time, may go to 2250.
One has to choose the position sizing carefully, keeping the risk management or exit in mind.
This is only for learning and sharing purposes, not a trading recommendation in any form.
All the best.
Adani Ports - Long SetupIt can be clearly seen that the stock price has been moving in a rising parallel channel for the last two months. If the pattern continues, the price may go to 1380/1420/1450.
This setup fails if the price remains below 1300 levels.
The above illustration is only my view. Only for learning and sharing purposes, not a piece of trading advice in any form .
All the best.
Bearish Flag breakdown in ICICIBANKICICI BANK LTD
Key highlights: 💡⚡
✅On 1 HOUR Time Frame Stock Showing Breakdown of Bearish Flag Pattern .
✅Strong bearish Candlestick Form on this timeframe.
✅It can give movement up to the Breakdown target of 1055-.
✅Can Go short in this stock by placing a stop loss above 1134+.
PNB, Intraday View for 22-MayAfter a strong break of structure, the price has been trapped in the compression zone. Also today the price is rejected by the resistance level of 128. The probability of a negative candle is more than 65%. For Intraday the level of 128 and 124 is important for trade decisions.
Intraday 5m | Trend Negative
Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
Nifty showed Expiry Day momentum towards the end of session Nifty remained extreme volatile throughout the session after opening on a positive note today
The INDIA VIX today made the High around 21
A Small body Bullish candle is formed on daily chart with long lower wick.
The imp upside hurdle is placed around 22500
whereas downside support is around 22200 zone
Track for price to form Price Action Patterns at Imp Levels,
However market may show volatility during the last phase of elections
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*For Educational Purpose
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Bank Nifty & FINNIfty showed consolidation in today's session After strong recovery in last session
BankNifty traderded in narrow range above prev day's HIgh
As long as Index remains above imp support of 47k/47200
it can show rebound towards next resistance level
However in case of Bearish Pattern at higher levels,
the index can come back to prev week range
Keep Tracking Charts
*For Educational Purpose
Learn & Practice Price Action setups