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Nifty: How September series start looks like19480-19460 played a vital role in Aug series and so did 19385 in the last 2 trading days. Directional trade can be taken once Nifty decisively breaks 21 day EMA or 50 day EMA. A few days back when Nifty closed below 50 day EMA, it bounced back immediately. Now again Nifty has broken the 50 day EMA on Expiry day. Is this a knee jerk reaction or is the breakdown real this time. If Nifty struggles to go past 19320 odd levels on the upside then it could indicate Bears trying to make a grip on the market. On the flip side, avoid selling above 19320 odd levels. Till the time Nifty is below 50 day EMA, chance of downfall towards 19030 / 18951 odd levels is on a higher side. Important levels which may act as Support and resistance for the day Imp levels on the upside 19320 / 19438 / 19487 Imp levels on the downside 19193 / 19152 /19080 Take care & safe trading...!!!
NSE:NIFTY
by indiamarketoutlook
Jublingrea RangeboundJublingrea has formed a beautiful upward channel and is rangebound with a buy at low sell at high and sell at high buy at low move. It has pulled towards trend line on low volume. This is a risky trade as if the lower trend line breaks, the move has come to an end hence I would suggest risking less than what you usually risk at first since risk to reward is 1:5 making it an A+ setup. We should position size.. What is position sizing? It is when you first add half your position to check If the market is saying you are right or wrong, if the market moves in your direction, you will add your second half and tighten your stop loss. This way you add two positions but one only when the market shows you that you are correct. Example: Suppose your risk is 100 per trade, You first buy enough Qt to risk only 50 ( Typically with a larger stop) and if the market forms a green candle or another bullish sign, you add another Qt to risk 50 more ( Total risk 100) and your second stop loss becomes tighter ( most probably at the breakeven of the first position) this way you minimise your loss but ur reward is the same and even more. If your first stop gets hit, you accept your mistake and move on. Add to more positions once 50EMA breaks and tighten the stop loss. Keep It Simple
NSE:JUBLINGREALong
by Krish_Kohal
Analyzing BANKNIFTY's Potential Reversal: Technical Insights andBANKNIFTY seems to be forming a Head and Shoulders reversal pattern at its peak. If it breaches the neckline around 44500, a considerable downward movement could follow, potentially targeting the next support at 43300. The projected target of the H&S pattern hovers around the 42800 region. Adding to the bearish sentiment, both the 10 and 20 EMA are trending downward, exhibiting a small bearish crossover – an additional negative aspect at the moment. This specific chart represents the Banknifty-to-Nifty ratio. Notably, it's finding support within the marked area. A breach of this level could further substantiate the aforementioned H&S pattern. Concurrently, the USDINR is developing a continuous wedge pattern. A break towards the top could indicate more challenges ahead. Additionally, this movement lies above the 10 and 40 Week EMA. Considering all these factors, indications point towards a potential decline. However, it's important to note that if BANKNIFTY manages to surpass the 45140-45150 zone, the H&S pattern might be invalidated, possibly opening up a bigger upward target. Continuing from the previous analysis, the chart visually depicts BANKNIFTY's potential Head and Shoulders reversal pattern forming at its recent peak. The negative convergence of the 10 and 20 EMA, along with the bearish crossover, adds to the current downward momentum. Shifting focus to the Banknifty-to-Nifty ratio chart, it's evident that a crucial support level is being respected within the highlighted range. A breach of this support could substantiate the bearish outlook discussed earlier, associated with the Head and Shoulders pattern. Simultaneously, the USDINR is tracing a continuous wedge pattern, implying potential further troubles. Worth noting, this pattern is occurring above the 10 and 40 Week EMA. To summarize, the collective data suggests a potential decline in the near term. However, it's crucial to remain attentive, as a breakthrough above 45140-45150 could alter this projection and lead to a larger bullish move. #BANKNIFTY #TechnicalAnalysis #MarketUpdate #TradingInsights #ChartPatterns
NSE:BANKNIFTYShort
by Triyambak_CA
1
Bpcl bounce backBPCL has fallen over 9% on disappointing earnings.... that's the past Looking at the stock right now, we can see 1. It is falling on low volume towards the support zone = good bullish sign ( Since there is no selling in the market ) 2. It is present at a major support and trend line ( Supports hold in bull markets ) 3. Support from 200EMA = bullish sign We should position size.. What is position sizing? It is when you first add half your position to check If the market is saying you are right or wrong, if the market moves in your direction, you will add your second half and tighten your stop loss. This way you add two positions but one only when the market shows you that you are correct. Example: Suppose your risk is 100 per trade, You first buy enough Qt to risk only 50 ( Typically with a larger stop) and if the market forms a green candle or another bullish sign, you add another Qt to risk 50 more ( Total risk 100) and your second stop loss becomes tighter ( most probably at the breakeven of the first position) this way you minimise your loss but ur reward is the same and even more. If your first stop gets hit, you accept your mistake and move on. Add to more positions once 50EMA breaks and tighten the stop loss. Keep It Simple
NSE:BPCLLong
by Krish_Kohal
Good weekly close in NIFTY50(19/06/23).One fall another day a good point make up. Nifty is just around its ATH. Is it going to break past the ATH as Banknifty or will still take time to break through the major level? A very bullish candle and close, on the weekly charts, shows some strength in the market. Nifty has traded stronger and has sustained above 18800 levels. The bullish move is being expected but RSI indicator is showing some bearish divergence on the weekly as well as daily charts. Positional and swing trades should be initiated once the 18770-18900 levels are taken out. Markets have travelled without any serious retest. There are chance of market trapping the bulls. If markets take resistance near 18900 levels and forms a entry, bearish trade can be entered. The market on the daily charts, has formed a upper wick candle but in green. The indecision in the market between the seller and buyer is still to be decided and major levels break out or break down can give big targets. Major Support :- 18770, 18700, 18580 Major Resistance :- 18870-900(ATH) Wait for the price action near the levels before entering the market.
NSE:NIFTY
by TheMamboMomentum
WIPRO LTD (Triple Confirmation Strategy)This study is to show the importance of a simple Triple confirmation Strategy in WIPRO that has generated a good return in the past and currently shows the same confirmation. 1. 200 Weekly Moving average – the stock must have tested the 200 Weekly Moving Average. 2. Rate of Change must be above 1 3. RSI must be at or above 50 or marginally lower. In the Past: Week starting 5th Aug 2013 with the same confirmation, the stock rallied 56.39% .Week starting 14th March 2017 with the same confirmation, the stock rallied 32.54% .Week starting 20th Aug 2018 with the same confirmation, the stock rallied 43.21% .Week starting 6th July 2020 with the same confirmation, the stock rallied 232.44% Currently: Wipro shows the very same 3 confirmations on Weekly chart, it has tested the 200 Weekly Moving Average and taking support beautifully. -ROC is above 1 -RSI is very near to 50(Exaggerated Divergence Pattern Formed) So it can be hoped that the stock is going to perform good in the weeks to come .The targets would be 449(Support & Resistance zone) next would be 535. Stop Loss very strictly below 375. CHART & ANALYSIS ADARSH DEY
NSE:WIPROLong
by AdarshDey