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HDFC BANK ( Looking goog to invest); small stoploss is enough;For short term investment ; Leave a " Like If you agree ".👍 . Wait for small retracement & daily candle to close above - "1650". Trade carefully untill ENTRY level. . Entry: 1655 / 1640 target: 1675- 1700- 1750 sl: 1640 / 1630 major stoploss/ support: 1600 . . Enter only if market Breaks "Yellow box" mentioned. . . Don't make complicated trade set-up.📈📉 Keep it " simple, focus on consistency " 💹 Refer our old ideas for accuracy rate🧑‍💻 Follow for daily updates👍 . Refer old posted idea attached below.
NSE:HDFCBANKLong
by TheNuraTrading
Stock Alert: Mazagon Dock Shipbuilders Ltd.🚢 Reversal Pattern Alert 🚢 Mazagon Dock Shipbuilders is showing strong signs of a reversal near its support zone, accompanied by a significant volume breakout! 📈 This indicates potential buying interest and could present a great opportunity for those looking to capitalize on the momentum. Key Observations: 📉 Support Zone: Price held firm around a critical support area, indicating strength. 💼 Volume Spike: Sudden increase in trading volume suggests growing investor confidence. 🔄 Reversal Signal: Technical indicators point towards a potential bullish reversal. Keep an eye on this stock for a possible upward move! Always remember to manage your risks. ⚠️Disclaimer: The charts shared are for educational purposes only. Happy Trading! 💹
NSE:MAZDOCKLong
by TechnoTrader10
2
PNB Gilts Might CorrectPNB Gilts might correct in recent days to come. Here are the technical reason : 1)Trading below 20 EMA & 50 EMA on daily chart 2)Head & Shoulder Pattern formation on daily chart 3)On Monthly chart it's negative with 117.8 as last month low(August) which is an important support level. (Note: Not responsible for anyone profit or loss, nor a sebi registered RA, this only for educational purpose. Please do your own due diligence before taking any trades.)
NSE:PNBGILTSShort
by GauravPrasad_GP
Devyani International Potential Bullish MomentumFollowing a notable consolidation phase that commenced in January 2024, Devyani International has exhibited promising technical signals, suggesting a potential shift towards a bullish trend. Last week, the stock successfully breached the pivotal resistance level of 185 on the weekly timeframe, which is a critical psychological and technical milestone. The 20 EMA has crossed above the 50 EMA on the weekly chart, a classic indicator of bullish momentum known as a "Golden Cross." This crossover typically signals a potential uptrend and aligns with the stock's recent move above the 185 pivot point. Both the daily and weekly RSI readings have indicated bullish momentum, suggesting the stock has been gaining strength relative to its price action over the observed periods. The MACD indicator on both daily and weekly charts is also reflecting bullish dynamics, with the MACD line crossing above the signal line. The stock has managed to close above the equilibrium level, a point where buying and selling pressures are balanced, on both the daily and weekly charts. A sustained close above this level could signify strong sentiment among investors, further corroborating the potential for upward momentum. A Change of Character has been observed on the weekly chart, indicating a shift from prior selling exhaustion to potential buying interest. This technical pattern often precedes substantial price movements, and in this case, it may suggest that sellers are losing control, paving the way for bulls to take the lead. Given the aforementioned technical indicators and patterns, the next resistance level is identified at approximately 236. Should the stock continue its bullish trajectory, this represents a potential upside of around 25% in the short term. Traders should closely monitor volume trends and broader market sentiment to fortify their positions. Disclaimer: The information provided in this stock analysis is for informational and educational purposes only and should not be construed as financial advice. Always seek the advice of a qualified financial advisor or conduct your own research before making any investment decisions.
NSE:DEVYANILong
by NiftyNotions
CNXIT BULLISH ! 1. Resistance Breakout: - The index has historically faced selling pressure at 38,653 - 38,405 Zone, causing it to reverse or pause its upward movement. - When a stock breaks above a strong resistance level, it means that buying demand has overwhelmed the selling pressure at that price point. This breakout is a positive sign, indicating that the chart may move higher, especially if it is a clean break (i.e., it closes significantly above the resistance level). - The **strength of the breakout** is often measured by the volume of trading activity. If the breakout occurs on **high volume*, it indicates that a large number of market participants are involved, adding credibility to the When a stock breaks through a strong resistance level and retests that level with good volume, it can signal a strong bullish move. Here's a detailed breakdown: 2. Retest of the Resistance Level: - After the breakout, it’s common to see a retest of the previous resistance level, which now acts as a support level. This retest occurs as some traders may take profits, or there may be some temporary selling pressure as the market re-evaluates the new price. - If the stock successfully holds above the previous resistance (now support) on the retest, it confirms that the breakout was valid. This gives bulls (buyers) more confidence that the level will hold and that the stock has further upside potential. 3. Volume Confirmation: - A retest with good volume is essential. If the stock holds the new support on strong volume, it signals that buyers are stepping in to defend the level, further reinforcing the idea that the stock is in a bullish phase. - Conversely, if the retest occurs on low volume, it may indicate a lack of conviction from buyers, and the breakout may be prone to failure. 4. Bullish Expectations: - When a stock breaks out of resistance and successfully retests it with strong volume, the expectation is that the stock will enter a new bullish trend. The prior resistance has now been transformed into a solid base of support, and the stock may experience momentum buying, pushing prices higher. - Traders often see this scenario as a low-risk, high-reward setup. Their stop-loss would typically be placed just below the new support level, while the upside target could be based on previous price patterns, such as Fibonacci extensions or previous highs. 5.Target : - it is on its all-time high targets on fib zones,pivots 0r based on future price action basis. # Summary: - **Breakout of strong resistance Indicates potential for higher prices. - **Retest of resistance as support Confirms strength of the move if support holds. - **Good volume on retest: Adds confidence in the bullish move. - **Bullish expectation Likely continuation of the upward trend. This combination forms a high-probability bullish setup in technical analysis. #cnxit #itsector #nifty
NSE:CNXITLong
by Sateesh07
Kotak Bank Swing Idea (Long)Kotak Bank is stuck in parallel channel range for awhile & might make a move in coming weeks due to following reasons 1)Trading above 20 EMA & 50 EMA on daily chart 2)Inverse head & Shoulder formation on weekly chart 3)Double Bottom pattern formation on daily chart 4)Swing Lows are not broken on weekly (Note: Not responsible for profit & Loss nor a sebi registered RA, this only for educational purpose. Please do your own due diligence before taking any trades.)
Editors' picks
NSE:KOTAKBANKLong
by GauravPrasad_GP
2
Nazara TechnologyWe are closely following Nazara Technologies and believe it’s poised for a breakout based on its technical patterns. Consolidation near resistance often suggests a potential for a breakout if the price action confirms it. If Nazara Technologies breaks through the 1020 level, it could indeed pave the way for further upside, potentially reaching your targets of 1350, 1500, and 1650+. It’s always good to keep an eye on broader market conditions and any company-specific news that could impact the stock’s performance. Additionally, setting stop-loss orders or having an exit strategy in place might help manage risk if the price movement doesn’t go as expected.
NSE:NAZARALong
by Arvind_Share_Academy
Coal India showing a break down on the daily and weekly charts.Coal India has been trading in a parallel channel from Feb 2024 and the range has been broken and closing below it has been given on the daily and weekly basis. The stock is trading around a support zone of 480-485. It is trading around the 100 ema levels on the daily charts and closed below 20 ema on weekly charts. Entry in a bearish trade can be made once the market take a retest around the round number figure of 500 and forms a negative price action. Clear pattern break down is there in the stock. Positional/swing trades can be initiated once there is a retest and break down of the support zone. Entry :- Below 480 Targets :- 465 Stop Loss :- 490 (close on hourly charts) Wait for the price action near the levels before entering the trade.
NSE:COALINDIA
by Mambotrade
Banknifty weekly analysis for 09/09/2024.Banknifty is trading below the 50k levels and the weekly bearish engulfing candle signifies some bearishness coming. The market has reversed from 50% fib levels and the pattern formation is also negative. Index seems to give a follow through candle in the same direction as it has been trading silently for past few days. Major levels :-50400, 49940, 49670 If market starts trading below 49700 levels, a bearish trend will be confirmed and sell on rise will be the market cycle. Resistance levels :- 51000, 51320 Banknifty is trading below all the moving averages on the hourly charts and has also breached 20 & 50 DEMA. Trade only the setup market create. Use trailing SL and profit booking on the targets. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
Nifty weekly analysis for 09/09/2024.The index after a long time has given some momentum on intraday basis and closed below the psycological number of 25k. A bearish engulfing candle on the weekly time frames shows some weakness on the charts. If the market starts trading below the 24800 levels, there are chances of testing lower levels. Hourly 200 ema is also around the support zone, while the daily candle closed below the 20 ema. Major support levels :- 25800, 24600, 24230 Resistance levels :- 24960, 25100 The level and the pattern formed around it shows a significant bearish upcoming move in the market. There are chance of market testing the lower levels as the market cycle seems to chance. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade