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NIFTY ANALYSISNIFTY on 30-03-2022 Supported by Global Cues and reduced Prices of Crude Oil NIFTY began the session with Gap Up and Profit booking observed as soon as the market opened. NIFTY took support near its first support level i.e. 17360 and bounced back to continue its northward journey towards 17500. BANK and AUTO emerged to be the greatest contributors with +1.36% and +1.21% while profit booking was observed in METAL (-2.17%). NIFTY closed at 17498.25 after making a day high of 17522.50. Technical View: NIFTY has made a hanging-man like candle on Daily chart which is a reversal signal . NIFTY is making Higher High Higher Lows formation. NIFTY is moving above EMA 13, 21 and 34 which reflects the short-term trend is Upward. RSI at 60 reflects the index is in bullish momentum. There is positive cross-over in DMI which signals the NIFTY may continue its northward journey. Support and Resistance: DAILY CHART The gap between yesterday’s high and todays low will act as Strong Support for NIFTY i.e. 17387-17235. On higher side 17525-17625 will act as resistance. If this level is crossed and sustained NIFTY will march towards 17775. View for Traders: The signals coming from technical indicators are mixed as RSI, DMI and EMA signal the strength and intact uptrend while on the other hand the candle formed at the end of the day tells a different story. Under such circumstances it becomes difficult to conclude and present the most appropriate strategy to be adopted by trader. However, analysing the current situation under following heads may offer us some substantial conclusion: 1. Russia-Ukraine News Though Russia has announced to withdraw its forces from Kyiv many Strategic Experts are of the view that this is a strategical step by Russia. Hence, the impact of the News is NEUTRAL. 2. Crude Oil Price The price of Crude Oil has increased. Hence the Impact is NEGATIVE. 3. The buying by FIIs The Net buying is ₹1357.47 Cr. Hence, the impact is POSITIVE. 4. Technical Parameters Indicators are showing the Probability of further gains while formation of Hanging Man candle signals reversal. Hence the impact is “ NEUTRAL”. 5. Global Markets DJI and S&P 500 both are down -0.41% and 0.75% at the time of writing this blog. Hence, the impact is NEGATIVE. Hence, there are 2 Neutral, 2 Negative and 1 Positive factors. Summing these all up it is recommended to buy NIFTY at its crucial support level i.e. 17250-225 for a target of 17360 and 17444 with SL of 17150.
NSE:NIFTY
by VipulCIL
4
Breaking Trend line and with strong RSI level, Long(Swing Trade)Yellow lines are for weekly chart and blue for daily chart Freshly broken the trend line and is about to enter the support resistance zone (according to me) if it sustain the position above 65 there is a good chances for long position with Stop Loss of 61.5-61 which ever suits you best and out target would be 72-72.50 well its up to you where you wanna book profit as there will be some resistance around 68-69. and we can clearly see double bottom W pattern which is a good sign, second target to keep in mind will be 76+ if it gives us the break out. lets see what happens in next few days. i will learn somethings from you and you might learn something from me. Note: I Dont have mastery in technical analysis , do your own Analysis as well i am just sharing my view. I'm open to new ideas and flaws in my analysis, so please do comment and share your Views. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial adviser before taking any trade. Thank You
NSE:BHELLong
by The1Light
2
CIPLA Short Dark Cloud Cover On a daily chart, Cipla has formed a dark cloud cover pattern near its resistance. RSI shows a descent away from the overbought zone back into the middle, giving us a leading indication that the stock might correct. The trade should only be executed if; 1) The volumes are slightly higher than the average of the past 7-10 days because that is when the maximum movement has occurred recently, 2) The opening on 21/03 is almost at par with the previous close of 1048. The stop loss for this trade is around 1/2 of daily ATR, which is slightly above the resistance as it gives some wiggle room for the stock, and the target is 1.5 of daily ATR at 1004, which is a bit far from the next support level at 984 due to 2 reasons; the overall market is on an uptrend for the past few days so we might get some buying sentiment as well in Cipla, and also because of any new developments that may happen with regards to covid-19 which may trigger a bullish sentiment in the pharma sector. Hence, the target is not kept overambitious, and the risk/reward ratio is promising at almost 3.
NSE:CIPLAShort
by arj18028
Bitcoin Top to Bottom Analysis Monthly chart: indicates that there has been a divergence in MACD and we can see the double top formation that was a wholistic overview, but the last three candles indicate that if the price broke below 32917 and closed below this it will complete as an inside bar which is bearish and on the downside based on the Weekly chart 28850 is the support, whereas if the price can break out from 47900 and closed above it will start the next upside up to 64850 on the Daily chart there is no momentum and we can see clear consolidation the price making choppy moves not respecting the 50ema band My Take: let's wait for the breakout because there has been uncertainty in the market with UKR & RUSS war and rumor of Russia to adopt bitcoin or the money flow might increase from the Russian side in BTC instead taking bias better to follow the chart analysis and trade according to levels
by Jimmy_Rebello
Bullish View in Birla CableBirla Cable is howing the strength. As per the ichimoiku rule, today's close is above the cloud and future kumo is very much bullish and chikou span is slanting upwards. All these parameters are showing the further strength in Birla Cable More strength will be visible once it will cross 145. Worth to keep in watch list for coming days #This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market. # Rule Based Investing # Ichimoku Cloud # Ichimoku Followers I hope you all like my analysis. Please do share your thoughts into comment section of Trading View. Please give a like, it motivates me to do analysis and do share our channel with your friends as well.
NSE:BIRLACABLELong
by nikunjbhadja
1
How to trade like a PRO on the basis of Technical Analysis. In this analysis we'll look how the Professional Trader explore the chart before executing their Trade. Demand Zone - Fib Retracement - Candlesticks - Divergence - Divergence warns that the current trend is getting weakening and it might possible that the trend get changed in up coming session. Volume Profile - POC - Point Of Control It's the Big guys who moves and manipulate the market, The Retail Traders can't. This is Not investment advice. It's just for learning purpose. Invest your capital at your own risk. Please like, share & follow.
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by TheGopal
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A breakdown analysisOn January 2021 script entered a upward rising channel but was struggling to touch upper line of the channel Watch closely 28 oct to 18 nov a breakdown from a small consilidation and also breakown occured with a ADX started to move upwards to 25 and above which further supports the running trend which is a downward trend Took support on previous zone consolidated for 14-15 day and gave breakdown as soon as the breakdown occurred we can see ADX again showing strength reaching further upside near 45 Retesting the supply zone falling the script might enter a sideways trend or it can show further downside
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