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Morning Star

NIFTY retouching the breakout + RSI divergence (120 pts ahead)During expiry Thursday the market was highly volatile and closed at 10289 level. Still the breakout dint failed, with a small risk can go long upto 10410 CMP : 10289 SL : 10239 Target : 10410 1:2 risk reward, almost 121 pts ahead with 50 pts risk. Analyze : 1) NIFTY if you compare with my yesterday analyze, it has formed Engulfing at resistance, and today almost kind of a doji and closed near yesterday low 2) If tomorrow morning turns up and reached our target (10410) it will become a Morning star pattern and sign and breakout can give more heights 3) RSI bullish divergence i'm 15 min's time frame, that is really powerful. P.S : Morning star at ressistance level is not that much powerful, so try to close the position as soon as target reached.
NSE:NIFTYLong
by srikartiram
2
Britannia forming Morning star Pattern at major support & VolumeHi Traders, Britannia forming Morning star Pattern at major support with good Volume. Bullish View on stock due to below point: 1) Britannia has taken support at major support (22250-2400) ,which was major consolidation / support zone in Jan -Feb 2018 times. See chart for more detail. 2) It has form reversal pattern of morning star candlestick pattern with good volume. What Indicator are says: 1) RSI out of oversold position & RSI above 40 will take stock out of bear control. 2) Stochastics RSI has make advance breakout , which tell bull control in near term. See chart for more detail. Target : T1 : 2620 (Book 50-70 % as per risk capacity) T2 : 2730 -2830 zone. (Book remaining 20 % profit) T3: 2930 zone (Hold remaining 10 % & can add new position if stock sustain good period of time above 200 sma) Strict Stoploss : 2300 low of Morning star pattern Happy Learning ); Disclaimer : This is post only for educational purpose . Do your analysis before taking position or trading.
NSE:BRITANNIALong
by karanwealthape
Nifty- Nation's Blood- Selling The Tops@11,117Correction - New Blogs can be checked on left top corner as compared to right top corner suggested over the video. Trading Strategy Plan A - Buy in 10650-10675 zone with strict stoploss below 10620 Targets - 10780-10800 / Buy Above 10800 for 10890/10925 / Above 10925 for 10985-11,000 & More only above 11,000 levels. Plan B - You can sell if you see index stopping or halting between 10780-10800 or stops between 10890-10925 or stops between 10985-11,000 Plan C - Sell below 10585 - Should not move above 10625 after falling below 10585 -look for targets 10325-10350 & Below 10300 for 10125-10150. Thanks for watching this video & your precious time.
NSE:NIFTYLong
by WaveTalks
2
Morning Star Candle Stick Pattern in Yes BankOn Daily Chart , Yes Bank has formed Morning star candle stick pattern , Which is considered Bullish . Additionally Stochastic RSI indicator is in Over sold region and its signal line has generated Buy signal. Moreover it has crossed & closed above Rs 167 which has served as strong support during previous two fall. It is going to give a good up move if it is able to close 179 ( it would be breakout) . Please comment. Declaimer : This analysis is for education purpose only. Consult your financial adviser, If you want to trade.
NSE:YESBANKLong
by nirmalmishra
WHY NIFTY GOING UP? AGAIN A GAP DOWN ON MON (15 Oct)POSSIBLE?THIS IS THE THIRD PART OF THE ANALYSIS ON NIFTY 2.32% FALL. IF YOU NOT READ THE PREVIOUS ONE 2 POSTS, PLEASE READ THE SAME FOR BETTER UNDERSTANDING. I HAVE ALSO SHARED ITS LINK BELOW. Last time we estimated a big downfall in the month of October and believed that IT Sector might stay in pressure as the results of Tata Elxsi disappointed and Number of TCS may also disappoint. Although, There was no downfall today. the top companies of IT Sector behaved in the manner as expected. TCS, Mindtree, NIIT and HCL Tech ended on the negative note and other companies fell initially but recovered and ended with minor gains. However one major thing to see is all the major global markets including Nikkei, Dow Jones, other Index were in Dark Red and even SGX NIfty was in -200 (although I do not believe SGX Nifty is directly related to Nifty but being part of the global market, even it depicts the sentiment of the market). Our Nifty did not showed any Red Colour. FII Data suggest that they have net purchased 7.9K Index Futures and 10.2K stock Futures. Important Event. 1. Consumer inflation stood at 3.77 per cent as against 3.69 per cent in the previous month. This rise in inflation was driven by higher prices of food and fuel along with weakness in the rupee. The retail inflation figure was lower than economists' estimates of 4% and was within the comfort zone of RBI. (Good for Market). 2. Good result of Nifty 50 Company - HUL. 3. Lined up result of Nifty 50 Company in coming week- Infy, Reliance, HeroMotoCorp, HDFC Bank Candles Formation The last 3 day candles have created a Bullish reversal pattern in the form of Morning Star. Interpretation With a rise of Today, FII has also added Longs in Shares and Indexes. We can expect a small pullback rally over here. HUL has result has been great, which will have a positive impact on the market after poor numbers from TCS. In The coming week result of top Nifty 50 companies are there, which will shape the market. In the process to up,There has been 2 Gaps created in the past downfall and crossed 2 Fibo support (Mentioned Below) which will stop the market from going up. Resistance 1 - Gap 1 - 10520-10550 Resistance 2 - Fibo Resistance 38.2 - 10650 Resistance 3 - Gap 2 - 10750-10850 Resistance 4 - Fibo Resistance 0.5 - 10860 The Above 4 levels are going to act as major resistance. Even after being optimistic, I do not feel market will be able to cross Resistance 3. Please note Pullback are short term and short lived. Thus, I personally do not prefer trading the pullbacks. However these pullbacks gives good level to again short the market. Please also note : FII even after covering have 89K Shorts. The fall can be deffer-ed but is certain to come until FII decide to cut their shorts in losses. (which never happen :P) The last time Nifty/Bank Nifty rose 300/800 points, it witnessed a bigger Gap Down the next day. I do not expect the same on Monday. Market might open Flat. These are just my thoughts, and my view to the things going around. I hope it Helps. All counter views welcomed if they intend a fruitful discussion. And If Warren Buffet says he still learns, who are we to say or believe that we know all. Lets learn together and Earn together. Thanks.
NSE:NIFTYEducation
by prathamaggarwal
10