NMDC - Long * Looks good for a target of 116
* Broken the resistance line with good volume
* W pattern one can observe.
Moving Averages
AUDUSD ANALYSIS FOR TODAY Trade Idea:
📍 Entry: 🎯 Target: ⛔ Stop Loss: (MARKED IN CHART)
💡 RISK REWARD 1 : 3
💰 Risk 1% of your trading capital.
⚠️ Markets can be unpredictable; research before trading.Disclaimer: This trade idea is based on Elliott Wave analysis and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions.Informational onLY !!!!
FinNifty weekly expiry for 14/08/23.FinNifty has closed below the swing low and for consecutive 3 weeks it has given red candle.
The market tried to retrace from the 19730 levels but this time it has closed below it.
On the daily chart, there is a low formation, retest and again it is forming another low. The bearish trend is confirmed and once the index start trading below the previous day low bearish trades can be entered.
It has closed between both the moving averages and the formation of an inverted cup is there which gives more conviction of the move to be a trending move.
On the hourly charts, the market has formed a bearish moving averages cross over and it has closed below both the moving averages. There are chance of market retesting the moving averages. If there is a negative candle formation near the level, enter a bearish trade.
19780-19850 range is a volatile range. It will be wise too avoid trading in this range as there is too much volatility in this range.
Support :- 19620, 19500
Resistance :- 19750, 19835, 19920
Tomorrow is Finnifty expiry and option premium will give good decay. The index on the smaller time frame is forming a lower low lower high pattern which can give confidence in a bearish trade.
Wait for the price action near the levels before entering the market.
Where will Hero Motocorp head?Hero Motocorp is trading around the levels from where in can give either side move. The stock has retest the 61.8% fibonacci levels and after takin support from the level it retested and reversed from 50% level of the recent down swing.
So the stock right now is trading around 3000 levels and has formed a gravestone doji after a big 7% bearish move last week. Though the stock is showing some bullish moving averages cross over and is coming to retest the moving average.
After the tie up for supplying Harley Davidson bike the stock shooted up. The stock tried to consolidate around the recent high but couldn't hold the path and has given a fall from there.
The stock on the daily time frame, is trading around the 20 ema and has consolidated near the higher levels of recent swing. Intraday, swing and positional all opportunities are there in this stock as the stock has closed near a support zone and has consolidated in a range for 4 days.
If the stock breaches the swing low, a bearish trade can be initiated and continued with a trailing stop loss. The stock can give 1-2% move on the intraday levels and much more in positional trades.
Entry 1 :- Below 2980
Target :- 2930, 2860(with trailing SL)
Stoploss :- 2995
Entry 2 :- Above 3080
Target :- 3185
Stop loss :- Can be a close below 20/200 ema on hourly charts.
The stock is somewhat on the lower range and there are much more chance of a bearish move. If the stock opening gap up avoid trading the stock for intraday as it can trade in a range.
Trade only once the stock start trading outside the box.
Wait for the price action near the levels before entering the trade.
Banknifty weekly analysis for 14/08/23.Banknifty has started trading below the previous swing low and closed below it. Volume are getting low on the weekly charts and it is near to the 20 EMA, there are chance of market testing the moving average.
On the daily charts, banknifty has formed a bearish candle and after retesting 50% levels it has started trading below the swing. There is a bearish trend in banknifty whereas nifty is still trading well above the previous swing.
Both the indices are in different direction and once nifty also starts a sell off, banknifty will fall faster.
On the hourly charts, there is a bearish moving averages cross over and market has closed below both the moving averages lossing 340 point on day close.
On 15 minute time frame, too market has closed below the moving averages. There was a constant rejection from the 20 ema and a good bear market from opening was there.
Support :- 44150, 44040-43960
Resistance :- 44310, 44400, 44560
The market is forming low lower low high formation and bullish trades should be avoided. Sell on rise is the market cycle and chance of big sell of can be seen as it has started trading below the previous swing low.
Wait for the price action near the levels before entering the market.
Nifty weekly analysis for 14/08/23.Nifty is taking a retracement and on the weekly charts have formed an inside candle. The market took a retest to 50% fibonacci levels and recovered.
Trend is still bullish as the major trend is in the upward direction and this might be just a retracement. Though the market is stuck in a small range and there are chance of a breakout in the upcoming week.
The market has closed below the 20 ema on daily charts, which signifies some bearish trend in the short term. Directional market is not there as it is behaving in a volatile and sideways mode.
On the hourly charts, there is a formation on lower low lower high and market is following a bearish trend. Nifty has closed below both the moving averages and is now standing around 19400 levels.
In the first trading hour market took resistance from 20 ema and closed even below the 200 ema, traded around it and finally formed an evening star taking resistance from the levels.
On 15 minutes time frame, the closed is below both the moving averages and the market still looks bearish.
Support :- 19300, 19185
Resistance :- 19500, 19580
The market has closed just below the support level and another support is 100 points lower. If market starts trading below previous day's low, bearish move will be there.
Gap up and gap down opening will take the opportunity away as it will be stuck in a range.
Wait for the price action near the levels before entering the market.
Weekly Basis Breakout on Varun BeveragesONLY FOR EDUCATIONAL PURPOSES. This post is meant for learning purposes only. Invest your capital at your own risk.
BUY MFSLMFSL is a strong BUY due to following reasons-
Flag breakout and retest
5,13,26 EMA Crossovers
Possible Cup and Handle breakout
Ready for LongSome important levels on the chart.
It is likely to follow uptrend with a sL of 450 on closing basis.
Banknifty daily analysis for 11/08/23.Banknifty from the first hour was looking weak and whole day traded lower than nifty.
It has given a red candle and closed 340 points lower forming a doji. Still banknifty respected the previous swing but has started closing below previous day closing range.
This week till now has given more of losses as there is no clear trend in the market.
In the second half, traders were looking for a expiry trade but it kept on hitting Stop losses and formed doji after doji on hourly charts.
The market has closed below both the moving averages on hourly charts and took rejection from 200 ema previous. Today it tried too sustain the 20 ema but 10:15 AM candle gave a break out of the levels and single candle closed 370 points lower.
Banknifty is looking negative and nifty is otherwise. It would be good to just avoid a day or two for trading as there is no clarity of where the market will be heading.
On 15 minute charts, there was a up and down candle one after the other and closing hour was horrible to trade as option premium due to time decay couldn't not give expected targets. It constantly struggled to cross the 20 ema and has closed below both the moving averages.
Support :- 44500, 44310
Resistance :- 44710, 44900
Banknifty constantly tested 44600 levels and closed near 44540 levels. If there is a gap up opening, enter bullish trade only once 44700 levels are crossed.
Market has created resistance and supports nearby and can react to any of the levels. Take small profits out of the market.
Wait for the price action near the levels before entering the market.
Nifty daily analysis for 11/08/23.Market are very volatile and is killing profits for option buyer.
Today's market was good in the first half as it gave a nice bearish movement but got jittery in the second half.
Being expiry, no trending market was seen even in the closing hour and nifty closed 90 points lower forming another lower wick rejection doji.
On the daily charts, market is seriously taking support from the 20 ema and today after touching a low of 19495 it reversed immediately closing around the moving average.
The 10:15 AM candle was a good candle and a nice bearish move was seen, this candle lost 83 points and market traded in the range of this candle whole day.
On the hourly chart, 20 ema was creating confusion as it traded around it and closed just below the moving average.
Support :- 19480-500, 19420
Resistance :- 19550, 19600-30
Support and resistances are nearby as market is volatile and can reverse from any of the levels. Scalp trades and short selling is good in this kind of market as there no clear trend till now.
Market is closing in a small range. Clearly scenario will be there once it starts closing outside the range.
Wait for the price action near the levels before entering the market.
Banknifty Banknifty . ( Not for "Amature traders" )
Enter after " Breakout and Retracement ".
.
.
For " long "
entry: 44530 / 45120
target: 45030 - 45250 - 45760
stoploss: 44500 / 44980
.
.
For " Short"
entry: 44480
target: 44250, 44030
stoploss: 44580
.
Enter only if market Breaks
"Yellow box" mentioned.
.
Wait for proper reversal and conformation.
.
Don't make complicated trade set-up.📈📉
Keep it " Simple, Focus on Consistency " 💹.
Refer our old ideas for accuracy rate🧑💻.
Valuable comments are welcomed-✌️
.
Refer old ideas attached below.
Banknifty daily analysis for 10/08/23.Banknifty tested lower levels but has closed in the same range as the previous 2 days.
On the hourly charts, it has again closed between both the moving averages. It gained 200 points in the last hour signifying some bullish movement in coming days.
Both buyer and seller took charge today. Seller where in control in the first half of the session but buyer pushed market back giving closed only 80 points lower.
Dragon fly doji on the daily charts and closed near 44900 levels is something buyer where looking for.
An inside candle has been formed on 4 hours charts. Watch for market to cross and start trading above today's high.
Market gave an unpredictable move in the second half.
Support :- 44580, 44310
Resistance :- 45090, 45280, 45500
The market has created a huge range in which it traded today. Avoid trading between today range.
Wait for the price action near the levels before entering the market.
Nifty daily analysis for 10/08/23.A clear bullish engulfing candle and a dragon fly doji on the daily charts shows some bullishness in the indian markets.
Nifty has given a U shape recovery today, after crossing 19530 levels market looked good for selling but it reversed after 100 points fall from the day high.
Today's market was totally unpredictable as it started consolidating after the fall and slowly moved in the upper direction.
On the hourly charts, market after breaching 20 ema almost touched 200 ema and reversed. The last hour candle shows some positive signs and chance are there that market fills the gap on the upper side.
The bearish moving averages cross over, on 15 minutes chart, gave some movement on the downside but couldn't sustain the trend and it reversed quickly.
Support :- 19470, 19400
Resistance :- 19680, 19730, 19850
Seller were loaded in the morning but buyer tookover and closed the market 60 points higher.
Wait for the price action near the levels before entering the market.
Banknifty ( Mostly Bullish )Banknifty . Trying to form ( H&S ).
Enter after " Breakout and Retracement ".
.
.
For " long "
entry: 44580 / 45120
target: 45250 - 45760
stoploss: 44900 / 45030
.
.
For " Short"
entry: 44550
target: 44250, 44030
stoploss: 44580
.
Enter only if market Breaks
"Yellow box" mentioned.
.
Wait for proper reversal and conformation.
.
Don't make complicated trade set-up.📈📉
Keep it " Simple, Focus on Consistency "💹 .
Refer our old ideas for accuracy rate🧑💻.
Valuable comments are welcomed-✌️
.
refer old ideas attached below
Banknifty daily analysis for 09/08/23.Banknifty has been trading between 38.2% to 50% fibonacci level and remained volatile whole day.
The market is taking serious resistance from 45k level and today also it tried to cross the level and reversed after hitting the resistance zone of 45100 level.
On the hourly chart, banknifty remained between both the moving averages and gave dji after doji.
Trend is still not decided for the short term and the long term too. This can be a retracement of the major trend or it can be a start of a short term bear market.
Sideway market is killing option buyer as both option are losing theta value.
On 15 minutes chart, 20 ema gave a nice support to the market and it has been tested constantly. If the market starts trading below it and breached the support levels of 44800, enter bearish trades as there are chance of hitting big targets.
Support :-44800, 44625
Resistance :- 45100, 45500
44800-45100 range is a no trading zone as the market is volatile in this range and no clear trend is there between the levels. Option buyers avoid trading between this range but option seller can create short strangle.
Wait for the price action near the levels before entering the market.
Nifty daily analysis for 09/08/23.Market remained in the same range as yesterday and killed option buyer.
Nifty for 2 days have been range bound. Today range was 19630-530 and in the second half of the session market remain silent.
On the hourly charts, nifty took support from 20 ema and closed above both the moving averages. After a gap up opening market came for selling and reversed after hitting the support zone around 19500 levels.
Market has been consolidating for 2 days and time is there for a big move either side.
On 15 minute time frame, the market traded around the moving averages and has closed near the levels.
Support :- 19535, 19420
Resistance :- 19600, 19720
Nifty struggled to cross 19600 levels and 50% fibonacci levels. It has also hit 19500 levels many time. Break out/down can give good target.
Wait for the price action near the levels before entering the market.
DIXONTECHNOLOGY H&S BREAKOUT WCBDixontechnology is breaking H&S pattern
on weekly chart #postionaltrade
trading above 20week ema
educational idea only
FinNifty weekly expiry on 08/08/23.Finnifty on the daily charts has formed a dojo after a gap up opening and has closed below the 20 ema.
DJI has given a bullish candle closing 400 points higher which gives a bullish move prediction in Indian markets too.
On the hourly charts market has consolidated in a range of 100 points, closing between both the moving averages. Consolidation in done and breakout can give nice target. There is a bullish diverge in RSI indicator too.
Even on 15 minute charts, it has closed between both the moving averages.
Support :- 19970, 19870
Resistance :- 20050-90, 20210
The market has consolidated and bullish trades can be initiated once 20090 levels are crossed.
Watch option premium as there will be time decay due to weekly expiry in FinNifty.
Wait for the price action near the levels before entering the markets.
CSBBANK BREAKING H&S PATTERNCSBbank breaking out h&s pattern
with good volume ,bullish RSI
MACD crossover done
educational idea only
Banknifty daily analysis for 08/08/23.Banknifty today was too volatile and closed almost flat to negative losing 42 points.
It has been trading below the 20 ema and today also it closed below the levels while nifty has closed above its 20 ema.
Both the indices were range bound and traded in opposite direction. Even after a gap up opening banknifty couldn't keep the gain.
On the hourly charts, dojis were formed and it tried to cross 45k levels but took rejection from the levels and closed around 44800 levels. Market traded around the 20 ema and has closed below both the movinga averages.
It remained in a 250 points range which is good as the breakout will be good after consolidation.
Support :-44800, 44625
Resistance :- 45000, 45100, 45500
Upper Long wick rejection can be in hourly charts and a constant rejection from 20 ema seems that market can test lows.
Scalp trades can be done in this market as intraday trades can fetch loses due to the volatility market is creating.
Wait for the price action near the levels before entering the market.
Nifty daily analysis for 08/08/23.Nifty has formed a doji and trade whole day in a range of 100 points.
The market is following a rising wedge channel and today has given closing above 20 ema.
On the hourly chart, it has closed above both the moving averages.
There seems no opportunity for option buyer. Market opened gap up and remained volatile.
Fight between buyer and seller couldn't take market anywhere and it closed only 80 points higher.
On 15 minute chart, nifty took support from 20 ema and in the second half after crossing 200 ema took support from the level. Both the moving averages are close enough.
Support :- 19535, 19420
Resistance :- 19600, 19720
Nifty struggled to cross 19600 levels today and closed below it. The market is giving gap up opening and not giving much opportunity to option buyer on intraday basis.
Wait for the price action near the levels before entering the market.
