Moving Averages
H&S on higher time frame in Bajaj Finance.The stock is trading around the neckline of the pattern and on the daily charts it has closed below the zone.
The weekly charts are also showing some negativity and there are chances it may move below as there is a head and shoulder pattern on the higher charts.
Entry can be created in the stock once the weekly low is breached and a daily candle close below it.
Bajaj Finance is trading below the weekly 20 ema and pattern formation is there.
There are 2 scenarios in the stock.
First, it can retest the zone of 50-61.8% fibonacci and give a break down.
Or after a consolidation it starts moving below the neckline.
Targets and stop losses will be created once the entry 1 or 2 is confirmed.
Entry one can be created once there is a bearish price action in the fib zone.
Targets :- 6875, 6520, 5900
Stop Loss :- 7360
In case of the second entry first target will act as a break down level with stop loss of 6910.
Position should be created with a setup confirmation and let the stock movement decide which side to move.
Wait for the price action and entry level to be triggered. Positional and swing trades in deravatives can be created.
Bajaj-Auto Stock AnalysisThe chart is self-explanatory and shared for educational purposes.
1. Moving Averages (MA): Bajaj-Auto stock trades above the 50, 150, and 200-day moving averages. This is often considered a bullish signal, indicating that the stock is in an uptrend.
2. Trendline Support: The stock has strong trendline support with high volume suggesting that there is a well-defined upward trend in place.
3. Trade with Stop Loss: This is a risk management strategy. A stop-loss order helps limit potential losses if the trade goes against expectations.
4. Short-Term Investment Expectation: The suggestion is for a short-term investment with an expected return of 10% within 3 months.
It's important to note that while technical analysis can provide valuable insights, it doesn't guarantee future outcomes. Market conditions, news events, and other factors can influence stock prices.
Pole n Flag: Watch for Breakout soon...Pole n Flag:
1. More than 30 days into flag formation (sideways)
2. Support from 50 DMA; quick recovery & making Hammer
3. Double bottom formation within flag
4. Strong on revenue and earnings
Prior strong uptrend tot continue.
GBPAUDprice approach at area of value and made momentum loss sign once we get time frame confluence confirmation we take long
FinNifty intraday level for weekly expiry 20/02/2024.FinNifty today remained in a tight range after a gap up opening and has closed around a crucial level. Now, the resistance levels is today's high, wait for the market to breach this level. Entry in bullish trade can be made. If the market consolidate after a slight gap up/down opening, while giving a break out of the level in the second half can give nice trending move in the second half. In case of a huge gap up or gap down trading should be avoided for option buyer as there are chances of market being sideways. Major resistance levels :- 20620, 20780, 20920. Support zone :- 20530, 20420. The index has closed above 20 DEMA and the been taking support from hourly 200 ema. The market seems bullish as it is sustaining the upper levels. Wait for the price action near the levels before entering the market.
Banknifty weekly analysis for 19/02/24.Banknifty has formed a nice bullish candle on the weekly charts and closed 750 points higher.
The market remained in a range for a while and gave a nice break out during the previous week.
In the last trading session market tried to clear the resistance levels of 46600 but couldn't clear the same and closed around 46400 levels.
Major resistance levels :- 46580, 46980-47100.
If there is a gap up opening, the market will look to test 47k levels and further test 47550.
On the bearish side the market can test the lower levels of 46k and 45700.
Anything below 45700 may seem to be a bearish move.
Major support levels :- 46040, 45700
Wait for the price action and buy on dip is the current market cycle.
Nifty is trading around the ATH while banknifty is trading short of 2000 points. It can be seen getting close to the ATH in the coming week.
TRIANGLE PATTERN AND DOUBLE BOTTOMBAJAJCON weekly TRIANGLE PATTERN AND DOUBLE BOTTOM If weekly closing is 219 above then the MORNING STAR CANDLE is invisible and 200 MA support recently
Nestle india good entry pointVery good entry point on Nestle india.
1. Uptrend stock
2. Support at weekly 20ma
3. support at weekly super trend
4. good RR ratio
MSTCAbout Company -
MSTC is one of the leading PSU entities engaged in providing e-commerce related services across diversified industry segment offering e-auction/e-sale, e-procurement services and development of customized software/solutions. It has emerged as a pioneer in the e-auction segment catering to the Government sector, partnering with different Government agencies and ministries in conducting e-Auctions. It is one of the key players offering comprehensive range of services in e-procurement segment. Also, the company develops e-commerce modules (i.e. e-commerce application software) for providing customised e-commerce services to its principals. ( Source - Finology Ticker )
Technical Study -
- An uptrend followed by correction and consolidation is a good sign for strength of the stock
- Stock price is in range bound condition and near 50 EMA (406.9)
- Facing resistance near 442.5
- Stock may see uptrend in coming days
Fundamental Study -
MARKET CAP ₹ 3,062.40 Cr., P/E - 12.76, FACE VALUE- ₹ 10, DIV. YIELD-3.44 %, CASH -
₹ 1,439.08 Cr., DEBT -₹ 145 Cr., PROMOTER HOLDING-64.75 %, EPS (TTM)-₹ 34.08, SALES -GROWTH - 31% ROE - 45.16 %,ROCE-46.33%,PROFIT GROWTH 19.58 % ( Source - Finology Ticker )
Ganesh Housing Corporation Limited (earlier known as Ganesh Hous
Market Cap ₹ 6,362 Cr.
Current Price ₹ 763
High / Low ₹ 795 / 261
Stock P/E 16.4
Book Value ₹ 160
Dividend Yield 0.31 %
ROCE 23.0 %
ROE 10.5 %
Face Value ₹ 10.0
Graham ₹ 413
Intrinsic Value ₹ 246
EPS ₹ 47.3
Sales growth 34.1 %
Sales last year ₹ 616 Cr.
Sales growth 3Years 32.1 %
Profit growth 392 %
Profit Var 3Yrs 41.6 %
Profit Var 5Yrs 15.7 %
Return on equity 10.5 %
Profit Var 7Yrs 7.20 %
Sales 2Qtr Bk ₹ 270 Cr.
ROE 7Yr 1.64 %
Debt ₹ 26.7 Cr.
Current assets ₹ 1,131 Cr.
Current liabilities ₹ 291 Cr.
Book value ₹ 160
Free Cash Flow 5Yrs ₹ 436 Cr.
JINDAL STAINLESS - TRENDLINE ANALYSISThe chart is self-explanatory and shared for educational purposes.
JSL Stock has a Channel Breakout after a reasonable consolidation.
Volume Breakout & above MA line.
There is a high possibility for upward momentum.
IDFC LTD DAILY 200 EMAIDFC LTD is receiving very good support on daily EMA, also the monthly RSI looks positive. It also forms a good cup in a weekly/ monthly time frame, that is what the green line suggests at around 118.0 which might work as good support.
CAKE: Bullish Momentum Builds with W Pattern Breakout💎 CAKE has broken out of a descending channel and formed a W pattern at the FVG and 200 EMA. Additionally, the price has shown CHoCH, indicating an increased probability of a bullish reversal.
💎The price may exhibit a pullback and find support at the bullish OB level, or it may retest the breakout zone of the W pattern before establishing a bullish structure.
💎If the price fails to show any bullish candles near the bullish OB level, it would be prudent to avoid trading CAKEUSDT. Furthermore, if the price falls below the last bullish OB level, we can anticipate a bearish movement in CAKE.
Nifty weekly expiry analysis for 15/02/24.A bullish engulfing candle on the daily charts after a gap down opening is showing some positive momentum and there are possibility of market test 22k levels soon.
Today the market remained in a bullish move from the morning and closed above the 20 ema.
After a consolidation there was a good break out and market tested the resistance level of 21850.
If there is a gap up opening above today's high, let market settle and test the break out zone and any bullish price action can be an indication of entering a trade.
In case of a flat or slight gap up/down opening, wait for a consolidation and if the market consolidate in the first half, there will be a trending move in the second half.
Tomorrow is the weekly expiry for the index. VIX has also cooled a bit.
Major resistance level :- 21880, 21960-22000
Support levels :- 21810, 21750.
The market is moving both side and is trading in a wide range. After 3 trading session the market has closed above 21800 levels which is another positive for a bullish move in the market.
Wait for the price action near the levels before entering the trade.
Banknifty weekly analysis for 12/02/24.Banknifty has been trading in a wide range of 2000 points for last three week and is constantly trading around weekkly 20 ema.
Though it has closed below the moving average and took a retest of 61.8% fibonacci level, giving a nice fall after it.
Bullish trade in the index can be trade once it sustains above 46900-47000 zone as it will confirm a W pattern and take out fib rejection levels too.
It is trading between the moving averages on the daily charts. Banknifty is kind of consolidating between the two and a blasting move can be seen once there is a break out or break down of the levels.
Major support level for the market is 44550 and major resistance is around 47000 levels. 16 trading session and 23 days market has been trading between these two levels.
Positional long F&O trade should be initiated after the levels are taken out. Short strangle with SL of the two levels can be entered and can be benefitted.
Major support levels :- 44970, 44500
Resistance levels :- 46000, 416510-80
Wait for the price action near the levels before entering the trade.
WLD: Bullish Breakout Signals Potential Upside Momentum💎 WLD has recently broken out of the falling wedge pattern and risen above the 200 EMA, forming a W pattern. Additionally, it has exhibited CHoCH (Change in Character) towards a bullish structure, indicating a higher probability of a bullish move.
💎 If WLDUSDT manages to break out above the resistance level, we can anticipate a move towards the strong resistance zone, which coincides with a bearish OB. Furthermore, there's a possibility of a pullback to the bullish OB. However, it's advisable to secure small profits at each swing if the price moves as anticipated.
💎 Conversely, a breakdown below the bullish OB zone would signal bearishness, leading WLD to establish lower lows and lower highs, indicating a shift in market sentiment.
ICP: Bullish Patterns Forming Near 200 EMA💎 ICP is currently forming an inverse head and shoulders pattern near the 200 EMA, with additional bullish indications such as CHoCH and Break Of Structure (BOS) occurring within this pattern. These factors contribute to a bullish market structure, which is further supported by the overall uptrend.
💎Furthermore, ICP/USDT is adhering to a supportive trendline, reinforcing the bullish sentiment. A bounce from the bullish order block (OB) can also be anticipated if the price demonstrates bullish candlestick patterns at this level.
💎However, if the price falls below the demand area, it would be considered a breakdown, signaling a potential shift to bearish movement in the market.
DOT: Bullish Momentum Supported by Breakouts and Patterns💎 DOT has found support within the support zone marked by the 0.618 Fibonacci level and has broken out of a descending channel pattern, forming a W pattern supported by the 200 EMA. Additionally, the price is displaying a Break Of Structure(BOS), further increasing the likelihood of bullish momentum.
💎If the price manages to break above the first resistance area, we can anticipate further bullish movement towards subsequent resistance levels.
💎In the event of a pullback, we may see a bounce from the bullish order block (OB) levels.
💎However, if the price declines below the support level, it could signal a bearish movement for DOT. Nonetheless, given the current bullish sentiment in the overall market, it would be prudent to align with the prevailing trend.
GRAPHITE INDIA: SHORT TERM BULL RUN EXPECTED📊 Graphite India - Technical Analysis - 02/02/2024
Current Status:
Closing Price: 562.10 📈
Fibonacci Level: 0.786 🌀
Yesterday's Trend:
Opening Price: Fibonacci Level 0.5 🌀
Movement: Upward to 0.786 📈
Signal: Parabolic SAR - Buy 🛒
Key Points:
Entry Point: 567.95 🚪
Resistance Level: If trades above 567.95 🛑
Target 1: 576.20 or 575.95 🎯
Stop Loss: 536.60 🔴 / KEY FIBONACCI LEVELS
Recent Trends:
Crossed 50-day MA on 30/01/2024 📈
Short-term Bull Run 🐂
Increasing Volume 📶
Indicators:
Static RSI: Middle Range ↔️
MACD: Expecting Crossover 🔄
Stochastic RSI: Upper Band Strength 💪
Fisher 9: Bullish Trend 📈
Conclusion:
Recommended for short-term entry in the current volatile market 🌪️📊
Disclaimer:
This analysis is for informational purposes only and does not constitute investment advice. Investing in stocks involves risks, including the loss of principal. Investors should conduct their own research or consult a financial advisor before making decisions. 🚫💰🔍
Hashtags:
#GraphiteIndia #StockAnalysis #TechnicalAnalysis #Trading #StockMarket #Fibonacci #BullishTrends #Investment #Finance
PSP PROJECTS: Trend reversal into buy territory in offing📊 NSE:PSPPROJECT - Technical Analysis - February 4, 2024, 14:18 IST 🚧
Company Overview: 🏗
PSP Projects Limited is a prominent player in the construction sector, providing comprehensive services from planning and design to post-construction activities across industrial, institutional, government, and residential projects. The company caters to both private and public sectors, showcasing versatility and efficiency in its operations.
Market Performance: 📉➡️📈
After a recent fall, PSP Projects showcased a commendable recovery, jumping 1.53% on February 2, 2024, closing at approximately 766.50, above the 0.5 Fibonacci level. This significant bounce could indicate a potential trend reversal and sustained buying interest.
Technical Indicators: 🛠
Fibonacci Levels: Closed above the 0.5 level at 766.50, hinting at a trend reversal.
Moving Averages: Successfully crossed over both the 50-day and 200-day moving averages on February 2, 2024, signaling a notable turnaround.
EMA & MACD: Entered positive territory, indicating bullish momentum.
Parabolic SAR: Emitting a buy signal.
MACD: In the buy territory with MC at 0.88 and signal at -1.45, histogram at 2.33.
RSI: At 75.87, above the upper band and showing bullish momentum.
%R: Trending upward, indicating strength.
Fisher Transform: Indicates a buying crossover, showing strong support for the upcoming days.
Entry Levels: 🎯
Aggressive Investors: Entry at 772.00. First target at 784.05, with a second target of 789.10.
Conservative Investors: Consider entering at 776.00.
Target and Stop Loss Levels: 🎯
Target 1: 784.05. 🎯
Target 2: 901.35. 🎯
Target 3: 817.50. 🎯
Stop Loss: 756.15.
Market Outlook: 🌤
PSP Projects' recent performance, coupled with positive technical indicators, suggests a promising outlook. If the broader market opens positively in the week starting February 5, 2024, and PSP Projects follows suit, it could mark the beginning of a long-term bullish trend, provided macro and micro factors remain favorable.
Caution: ⚠️
Given the stock's history of volatile swings, a strong trade above 776 is crucial for confirming its bullish potential.
Disclaimer: ⚠️
This analysis is for informational purposes only and is not financial advice. Investors should perform their own research or consult a financial advisor before making investment decisions. Market conditions can change rapidly.
#PSPProjects #TechnicalAnalysis #ConstructionSector #StockMarket #Investing #TradingView #BullishTrends #FibonacciLevels #EMA #MACD #RSI ✨
ADA : Bullish Breakout Signals Strength and Potential Upside💎 ADA has broken out of the descending channel and has displayed signs of strength, including CHoCH (Change of Character), BOS (Break Of Structure), and the formation of a W pattern around the 200 EMA. These factors collectively increase the likelihood of a bullish movement.
💎The current zone, previously a resistance area, is now acting as support, as evidenced by historical price action on a larger timeframe.
💎A pullback to the bullish OB levels, coinciding with the Fibonacci golden 0.618 level, is anticipated. This level presents an attractive opportunity for a bounce.
💎However, in the event of ADAUSDT breaking below the demand levels, it would be wise to refrain from seeking bearish opportunities, considering the overall bullish sentiment in the market. Capturing small bearish targets may not be worthwhile in such a scenario.
