Moving Averages
Harmonic Bullish Pattern active in Edelweiss Edelweiss looks Attractive for high risk takers
Fundamentals : Decent, stable on Sales, Profits and EPS but DII and FII stake decreasing. High debt vs Reserve.
Technicals : Very Bullish, Harmonic Bat active, well placed above standards MAs , heavy volume seen on recent breakout!
R 1: 76
R 2: 95
R 3: 115+
SL : 45
Banknifty (Weekly Analysis)Banknifty. (Only for Experienced traders" )
Enter after " Breakout and Retracement ".
Leave a " Like If you agree ".✌.
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For " long "
entry: 44520 / 44575
target: 45030 - 45250 - 45760
stoploss: 44410
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For " Short"
entry: 44250
target: 44030
stoploss: 44320
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Enter only if market Breaks
"Yellow box" mentioned.
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Wait for proper reversal and conformation.
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Don't make complicated trade set-up.📈📉
Keep it " Simple, Focus on Consistency "💹.
Refer our old ideas for accuracy rate🧑💻.
Valuable comments are welcomed-✌️
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Disclaimer:
Our Trading style is not to capture "10-20" points per trade.📊
We take entry only for min "200-300" points without any distractions.💹
So, our ideas may not be preferable for small traders, who just focusing on too much of support and resistance.📈📉📈
So, please consider others ideas.
This is for educational purposes.🧑💻
IRB Infrastructure could rally soonIRB Infrastructure has been consolidating on weekly timeframe for a very long time and has created a good BASE for upcoming rally, it is also near its All Time High Prices absorbing the SUPPLY, as well as we can clearly see the 50 Daily EMA + 200 Daily EMA following the price and Volume Dryups for Red Days and on Green days significant VOLUME activity and we also have NEWS catalyst like Quarter Profits rise and Record high Block Deals for the company, so we could soon see a Rally one we pick up on VOLUMES above All Time High
Nifty daily analysis for 08/11/23.Nifty has been forming gaps as there are gap up for last 2-3 trading sessions and is trading above both the daily moving averages.
On the hourly charts, the market seems to be consolidating in a range for last 2 days.
A break out can give a nice rally and nifty has more chances than the expiry index tomorrow.
Support :- 19330, 19270
Resistance ;- 19430, 19510
Wait for the market to give a break out or break down and watch for the price action near the level before entering the market.
Banknifty weekly expiry trading levels (08/11/23).Banknifty has formed a nice dragon fly doji or a hammer candle with a bullish engulfing candle on the daily charts.
It tested the 200 ema and has closed on a bullish note as it moved 500 points from the day low.
On the hourly chart, it has closed above both the moving averages.
If there is another gap up opening, there can be a one side rally as it is weekly expiry for the index.
Support :- 43630, 43300
Resistance :- 43850, 44180.
The market can remain bullish this week owing to the festival week. And banknifty has closed above the 61.8% fib level which is also convincing for a bullish move.
Wait for the price action near the level before entering the market.
Banknifty weekly analysis for 06/11/23.A nice "M" pattern formation on the weekly charts for banknifty is a nice bearish trend for the markets.
Banknifty may retest the neck line of the pattern and continue the bearish move after the retracement.
Currently, it is taking resistance from 50% fib level and there are chance of retracing 61.8% fib level.
On the daily chart, three doji candle are showing confusion even after a gap up opening and not continuing the move.
It has closed at an interesting level and is between both the daily moving averges.
Support :- 43040, 43820
Resistance :- 43590, 43850
In the last trading session the market has consolidated in a 100-150 points and if the markets open in the same range, then there can be a nice momentum either side.
Wait for the price action near the levels before entering the market.
Nifty weekly analysis for 06/11/23.Nifty after a selling has recovered upto 50% fib levels. The market has formed a baby mother candle on the weekly charts and it still trading below the 20 ema.
Markets are not doing much during the trading hour as there is a gap up and consolidation during the trading session.
On the hourly charts the market has been trading in a range of not more than 60 points.
Support :- 19150, 19070
Resistance :- 19270, 19400
Much of the movement is not there in the market. Watch and confirm the setup as there is no follow through for last 3 trading sessions.
Wait for the price action near the levels before trading the market.
The Ultimate Beginners Guide to Day TradingHello everyone My name is d3ffyduck
I am today gonna post some cool and new tips For the beginners in Daytrading.
I am gonna divide things in Chapters so you'll learn it with ease
Read it till the end Hope You learn something
Chapter-1 Timeframe selection
The choice of the best timeframe for chart analysis in day trading can vary depending on a trader's strategy, preferences, and the market being traded. Different timeframes offer varying levels of detail and may suit different trading styles.For Example
1-Minute Chart: This timeframe provides very detailed information, showing price movements within one-minute intervals. I prefer Using it for precise entry and exit points In day trading
5-Minute Chart: Slightly less detailed than the 1-minute chart, the 5-minute chart still offers relatively short-term insights into price movements. I use to determine my momentum for the trade i want to hold for like 1-2hrs only
15-Minute Chart: This timeframe offers a broader view of the market compared to shorter intervals. I prefer it to determine my next day momentum of the market
Chapter-2 Support and resistance Using RSI
I know you all knows the basics for support and resistance but today i will show you the best way. Just open your chart and use RSI Indicator and we are going to mark the overbought areas high candle and oversold area lowest candle using it for different time frames.
Just a note from my side do not mark those areas again if there have already a support or resistance line in different time frame and also you can remove those level of S&R which did not hold well in different time frames
1-day time frame=I have marked the regions where the RSI turned in the overbought or oversold areas. As you can see, I have not marked the support and resistance levels since they were already established from previous market overbought and oversold.
4-hour Time frame=In this timeframe, we will only identify the levels that are above 70 and below 30 in the RSI. We'll skip the R&S that are already marked on the daily timeframe. To reiterate, please refrain from marking those levels again if we can observe that our resistance and support levels have already been established on the daily chart.
1-Hour Time Frame = I've set my preferred timeframe to a maximum of 4 to 5 months. I don't want to go below this timeframe as it will create more noise. Additionally, I'll remove the support and resistance levels that didn't react well for buyers and sellers at this point to make the chart look cleaner
Chapter-3 Determining the Trend
Here in this chapter we are going to use only 2 Things to keep everything simple:-
SMA+EMA 200= We are going to use simple indicator or just create yourself one indicator which plots both sma and ema with same 200 timeperiod.
Rules are simple
if below both ma look for short
if above both ma look for long
You can use it for 1hr and 15 min for day trading purpose
Trendlines- Trendlines are your best friend.They are the building block for your Chart pattern look for trendlines in 15 min tf for day trading purpose
Chapter-4 Significance of market opening closing,high,low
This is one of the important chapter for day traders and i am going to tell you how an opening closing high and low effect the whole day trade.
For Example
1-Open your Chart
2-Mark the opening ,closing highs and lows for previous 3-4 days
3-Those area are going to be area of interest
Tip for the beginners. Do not take any trades for the first hour From the opening of the day For example if your market opens in 9:15 am dont take trades until 10:00-10:15 cause of high volatilty
Another Tip for the beginners.If you prefer to take 2 trades a day close your previous 10:00 am trade At around 11:45am -12:15 pm and start looking for another one after that. the reason because i have seen this is the time for the most probable reversal or continuation of trend for the next leg of the day
Chapter-5 Significance of Gaps in the market
Gaps are one of the best way to decide what will be the market trend for the rest of the day
There are two type of gaps in the market 1-Gap up 2- Gap down
Tip for the beginners Only trade in the strong gap up or down and as i said before do not trade in the first hour of the opening
Ill show you some scenarios of gap Trading with respect to opening of the day
Scenario 1st strong gap up+ Stayed above above the gap and opening for the 1 hour(9 am-10am)
We can see we had a strong opening stayed above the gap up and open for atleast 1 hour so after this the trend is decided
Tip for the beginners Always follow strict Risk and Reward ratio like i use 1:1.5
Scenario 2nd strong gap up+ stayed below the gap and opening for the 1 hour(9 am-10am)
We can see we had a strong gap up and opening but price stayed below the opening for 1 hour so we took the short as dropped below previous closing/high
Similarly we can use this for gap down scenarios
Final tip from my side are:-
Do meditation for 15 min before trading hours
Always use stoploss
Use your preferred Risk Reward ratio like 1:1.5
Do not trade in opening Hour
Gaps are like your friend
Trends are like a path to success
Do not overtrade
Dont only rely on indicators there isnt any indicator which can make you rich
Use only basic indicators such as Ema,Macd,Rsi and ATR
PLEASE UPVOTE AND FOLLOW FOR MORE EDUCATIONAL CHARTS AND STRATEGIES
Nifty weekly expiry for 02/11/23.Nifty has formed a red candle on the daily charts and is trading between both the moving averages.
It is showing a bearish trend on smaller time frame, also forming a fall wedge pattern. If the market starts trading below 18900, there will be a huge sell off as the low will be cleared and support will be around 18720.
On the hourly charts, the market has been trading below the moving averages which signify some negativity.
Support :- 18870, 18720
Resistance :- 19250, 19400
Tomorrow is weekly expiry for nifty and today it has fall 90 points on day to day close.
Watch if the market open flat to negative and starts trading above the resistance of wedge. The pattern will work in the bullish side more effectively.
Wait for the price action near the levels before entering the market.