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
Learn & Practice Price Action setups
Intraday
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
Learn & Practice Price Action setups
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
Keep Tracking Charts
*For Educational Purpose
Learn & Practice Price Action setups
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
Nifty witnessed rebound for 2nd straight Day Nifty continued with its monday gains,
The slowly moved higher in today's session
However Sectorial trend was mixed
Next hurdle is placed around 22300 zone,
The important downside support is near 22000 level
The index can show diorectional movement
outside the range of 22k to 22300 in coming sessions
Market may also show both sides movement during the Polling season.
Keep Tracking Charts
*For Educational Purpose
Learn & Practice Price Action setups
Nifty closed above Day's High amid Volatile session Market showed reversal from day's low,
after witnessing selling perssure from past few session.
The Index formed a Hammer pattern on the daily chart,
The imp hurdle is placed at 22,200...
if sustains above the resistance level,
more recovery could be possible towards next level
Whereas imp support is placed around 21950 zone.
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
Bank Nifty saw a strong recovery from zone of 47kThe Index started the week on a positive note
Market rebound strongly after a negative start
THe Index got major support from HDFC & ICICI Bank
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
Reversal Broadening Wedge pattern in NAVINFLUORNAVIN FLUORIN INTERNATIONAL LTD
Key highlights: 💡⚡
📈 On 1 Day Time Frame Stock Showing Reversal of Broadening Wedge Pattern.
📈 It can give movement upto the Reversal Final target of Above 3552+.
📈 There have chances of breakout of Resistance level too.
📈 After breakout of Resistance level this stock can gives strong upside rally upto Above 3860+.
📈 Can Go Long in this stock by placing a stop loss Below 3082-.
Nifty closed at the same levels for 5th time in 20 years - studyNifty traded within prev day's range,
it erased the intraday gains after taking rejection from trendline
Nifty needs to move outside the prev day's range
to show Directional Movement on Expiry day
The Wednesday session HIgh & low can work as Resistance & support zone,
For Gap up/ Gap Down, track for Price action confirmation at imp levels
Resistance / support zones can work same as last session
*For Educational purpose