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APTECHTAPTECHT:- Head and shoulder pattern is formed on weekly chart, breakout candle is also strong, wait for retesting, if you want to plan something, take care of all time high 449.75, keep an eye on the stock Hello traders, As always, simple and neat charts so everyone can understand and not make it too complicated. rest details mentioned in the chart. will be posting more such ideas like this. Until that, like share and follow :) check my other ideas to get to know about all the successful trades based on price action. Thanks, Ajay. keep learning and keep earning.
NSE:APTECHTLong
by AjayDhakad_Keep_it_simple
Nifty: Important levels for trade day 18 April 2023In previous post One of the 3 important levels given on the downside was 17708. Nifty closed the day at 17706.85 Also had suggested the blue zone may act as Support zone for Nifty in April series. Despite poor reaction to Infy numbers, Nifty has managed to take support in the blue zone. It recovered more than a good 100 points after touching the blue zone. What next… Let’s see what Data is telling us… Index Futures Retail traders added 7833 Long contracts and squared off 6663 Short Contracts FIIs exited 3406 Long contracts and added 4015 Short Positions Pro traders exited 5015 Long contracts and added 9027 Short contracts Index Call Option Retail traders added 20.64 Lakh Call Long contracts and also added 18.67 Lakh Call Short Contracts FIIs added 2.89 Lakh Call Long contracts and added 2.72 Lakh Call Short Positions Pro traders added 4.13 Lakh Call Long contracts and added 6.27 Lakh Call Short contracts Index Put Option Retail traders added 12.90 Lakh Put Long contracts and added 12.27 Lakh Put Short Contracts FIIs added 1.87 Lakh Put Long contracts and added 1.76 Lakh Put Short Positions Pro traders added 2.88 Lakh Put Long contracts and added 3.63 Lakh Call Short contracts Overall Put Call Ratio cooled off to 0.99 from 1.31. Given the chart set up and Data inputs Important levels on Nifty spot for 18th April 2023 Important levels on the upside 17776 / 17804 / 17836 Important level on the downside 1 7615 / 17584 / 17551 Take care & safe trading...!!! Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:NIFTY
by indiamarketoutlook
Nifty IT= THE SECTOR TO AVOID FOR INVESTORS!⚠️FIRST THE TECHNICAL VIEW Attached: Nifty IT Index Weekly Chart as of 13th April 2023 In the Chart above, I have mapped out the Potential Elliot Wave Count to play out over the coming Months: - Price has fallen in 3 Waves which is our Larger A Wave - Then Price did a Corrective bounce in an ABCDE structure making up our Larger B Wave - And now the Larger C Wave Down in the form of an Impulse is about to start/ has already started! I have 2 Downside Targets🎯 based on the Elliot Wave Count: T1= 23400 to 22700 (which is C = 0.618 of A) T2= 18350 to 17750 (which is C = A) This implies an approx. 19% decline📉 for Target 1 and a 36% decline📉 for Target 2, from Current Market Price😨 NOW, THE FUNDAMENTAL VIEW Regarding IT Stocks from an Investor's Stand Point, it is going to be the DIRTY FISH💩🐟 of the Pond and can potentially Spoil the Whole Pond as well Irrespective of whether it is a Bull Market or a Bear Market for Broad Market Stocks. IT Index is set for New Lows and Infosys is Leading it on the Downside As an Analogy for the Indian Market: Remember how Auto Sector was in 2018? TOP out how Pharma was in 2015? TOP out IT is the same now in a Bear Market🐻🩸. Fundamental Reasons: - US Recession - Wage Inflation (IT Co. main cost is Employees), Lay Offs, Etc. - De Dollarization (aka USD Crash hurts Dollar Revenue of these IT Companies) I suggest if you have any Investments in IT Stocks Sell Them Off✅ You will get better Value in Other Sectors✅ This is a SECTOR SPECIFIC View for INVESTORS!⚠️
NSE:CNXITShort
by T_Harth
Sonata Software is in Consoilidation Phase | NIFTY | NIFTY ITThe last 2 Year's chart is shared here. Just wait and watch the game. Fundamentals: YoY on YoY Revenue and EPS Growth. Technicals : It Breached the 1-Year-Old Trendline and Consolidation around it. Last 2 Years RS compared to Nifty and Nifty has been Strong. Although Its Sector's RS Is Weak Compared to Nifty. Stock is trading above 50 SMA. It's following a short-term Channel of around 6 Months and it broke its support of it recently. Now it's again going to enter the channel. Stock is in an uptrend for the last 6 months. Stock is printing a VCP-looking alike Pattern in Daily Timeframe.
NSE:SONATSOFTW
by subasark
Persistent Systems in an accumulation phase or will it dip againPersistent Systems have been trading in a broad range for the last few months. It has tested the bottom range thrice and now the prices are hovering near the upper range where we can also spot an accumulation and a confluence of the upper range and another resistance trendline. As for the bearish section, there is a confluence of 200 EMA and the support trendline, but as for the performance of the sector, my personal belief is that the stock might show us a good rally anytime now. Trade with due diligence.
NSE:PERSISTENT
by Apex_Trading69
Why Wipro is best bet for long term I have shared Wipro weekly chart and marked Elliot waves considering wave 1 to start after corona crash. If you can see the 5 waves got completed in month of Oct, 2021 where high is 739.85. As per standard Elliot wave principle a correction after wave 5 should get completed in or around where wave 3 and wave 4 is terminated. This is standard as per book definition of a pull back or a healthy correction. So as you can see in the chart shared we are trading in the zone where wave 3 and wave 4 got terminated in last cycle. I have also drawn a blue colour trend-line which is holding the downside for wipro so far. Looks like soon it will start trading above this trend line and thats the sign of reversal. Another sign of possible up-move from here is RSI. RSI already shown a positive or bullish divergence and now the price should start moving upside. Keep an eye on the stock, so far so good all the Elliot wave principle and RSI is good enough reason to start accumulating this stock in the long term portfolio. In any case keep the strict SL of 390 on closing basis because if we get any closing below this that will violate the Elliot wave principle that I mentioned above.
NSE:WIPROLong
by LBilgir
ORACLE FIN SERVICE is nearing triangle breakoutNSE:OFSS is nearing triangle breakout Entry : Conservative traders, wait for breakout with volume above average and then take position. For small SL, enter on strong close above 3180 Exit : When the setup is invalidated by false breakout, or strong close below the triangle's support line Target : 4200, giving around 32% returns from current price of 3147.70. Follow trailing stoploss as IT stocks are in a continuous downtrend for long time. Midcap IT related company with strong fundamentals & financials. Income statement is good, debt to asset ratio and PE ration are very low, contributing to the pros. FII are constantly reducing their stake in this scrip from 2021 Mar, however the scrip rallied from 3000 to 5000 (66%) by the help of DII. Key note : Always follow proper risk management to avoid losing capital from false breakouts as this is common. Caution : This is a knowledge sharing analysis, not a call.
NSE:OFSS
by samplespaz
MAPMYINDIA is nearing triangle breakoutNSE:MAPMYINDIA is nearing triangle breakout Entry : Wait for breakout with volume above average and then take position Exit : When the setup is invalidated by false breakout Target : T1 1500 T2 1650 T3 1800, giving around 11% 22% 33% returns from current price of 1345.95. Follow trailing stoploss as T1 while waiting for T2, etc. Smallcap IT related company with strong fundamentals & financials. Income statement is good, debt to asset ratio is low (which is good), PE ratio is high to the sector, but fine compared to few peer. Key note : Always follow proper risk management to avoid losing capital from false breakouts as this is common. Caution : This is a knowledge sharing analysis, not a call.
NSE:MAPMYINDIA
by samplespaz