Oriental Aromatics Price BreakoutNSE:OAL price shows the entry of big players with high volumes in market wait for the retracement or swing high and create your positions accordingly.
stoploss should be below swing low.
Moving Averages
Dhani Trend changeNSE:DHANI Has changed the momentum of down trend to Up trend. we can start building our positions with 25% of total deployment, Pyramid the positions on every swing high.
If turned reverse then swing low should be stoploss.
Dollar Patter BreakoutNSE:DOLLAR Has confirmed flag pattern breakout with strong volumes.
stop loss can be followed by swing low.
Renuka Sugar breaks outNSE:RENUKA confirms breakout and followed by a good retracement, you can start building positions slowly.
stop loss can be kept on lower low of range.
AMBUJACEM Ready for a ROCKET LAUNCHNSE:AMBUJACEM Is ready for a BULLISH move.
1) SUPPORT CONFIRMATION ON ASCENDING TREND LINE.
2) PRICE CLOSED ABOVE MOVING AVERAGES.
Happy trading.
BALKRISHNA INDUSTRIES BUULISHBalkrishna industries coming out from a range box
good volume ,trading above 20ema
educational idea only
HINDUSTAN UNILEVER BREAKS DOWN AFTER POOR EARNING RESULTSTECHNICAL ANALYSIS :
ASCENDING RECTANGLE BREAKDOWN -
Price has broken down from the ascending rectangle pattern with confirmation
VOLUME SPIKE -
On 21st july, price has shown huge volume spike with the breakdown indicating strong downward momentum
50D SMA BREAKDOWN -
Price has broken out of the 50D sma after consolidating above it for a long time making it a very strong resistance zone
STRONG SUPPORT-RESISTANCE ZONE BREAKDOWN -
A very strong support-resistance zone level has been broken down by the price which had earlier acted as either strong support level or strong resistance level multiple times
OVERSOLD RSI -
Cherry on the cake is that rsi is oversold indicating very strong momentum behind the breakdown
FUNDAMENTAL ANALYSIS :
EARNING MISS -
On the jun'23 quarter HUL has missed its revenue forecast by ~2.5% & profit forecast by ~4% indicating poor performance by the company
STIFF COMPETITION -
The regional players who had left the market during peak inflation have returned as inflation subsides indicating even higher competition for company
MUTED DEMAND -
Company has said that the demand in rural areas has not yet picked up and consumers are still preferring unbranded alternatives compared to its Tea brand
TP - 2700
SL - 2560
Banknifty daily analysis for 27/07/23 (monthly expiry).Banknifty has finally traded and even closed above the 46k levels. After a gap up opening, it fill the gap and in the second half crossed the 46k levels.
It has closed near the resistance zone of 46100 levels. Banknifty consolidated and gave a break out above 45950 levels.
On the hourly charts, it has closed above the 20 ema and it respected the levels after a gap up opening.
Tomorrow is monthly expiry and there can a trending market.
On 15 minutes charts, the market totally respected the 20 ema and took support from the level, finally closing above it.
Support :- 45980, 45830
Resistance :- 46080, 46250
Banknifty has retest the 38.2% levels and today has traded in a parallel channel. The breakout/breakdown can give nice target on the monthly expiry as there has been consolidation.
Wait for the price action near the levels before entering the market.
Nifty analysis for 27/07/23 (monthly expiry).Nifty traded inside the first hour candle and closed 100 points higher forming a confusion candle charts.
The market are consolidating and creating confusion. On the hourly charts, started trading above the 20 ema after the gap up and took support from the levels. Nifty traded in 70 points range after the first hour candle.
Initially, both the indices were travelling in different direction and nifty leading but finally banknifty also followed the index and closed above 46k levels.
On 15 minutes chart, there was a constant rejection from 19825 levels and closed below the 20 ema after the fall of the final hour.
Support :- 19760, 19700, 19640
Resistance :- 19825, 91870 ,19990
Nifty has consolidated and can give nice trend on the monthly expiry. Watch for the movement as option premium can give nice movement too.
Wait for the price action near the levels before entering the market.
Banknifty ( Weekly View ) ; BearishBanknifty (weekly )
More probability is there for "Bearish "
.
.
For " Short"
entry: 45950 / 46200
target: 45750 / 45550
stoploss: 46270
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For " long "
entry: 46300
target: 46450
stoploss: 46200
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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 be aggressive.
.
refer old ideas attached below.
BANKNIFTY chance of a major trend reversal from herePlease see the description on a 15 min timeframe.
Today was a tight bear channel followed by a break of that channel with a double top formation.
Low probability trade, with low risk Sl, 40% chance that this is a major trend reversal to the upside.
Tomorrow could be a trading range day
Please not this analysis is just for educational purpose and based on technical analysis
Banknifty daily analysis for 26/07/23.Banknifty after a gap up opening came of selling initially and closed 80 points lower on the daily close. There is a bearish engulfing candle and market is taking support from 45600 levels.
On the hourly chart, market remained in a 200 points range in the second half of the trading session.
The market has formed resistances on the highs and are near by the trading levels.
On 15 minutes time frame, market traded between both the moving averages and took support from the 200 ema and formed a V shape pattern.
Support :- 45640, 45360
Resistance :- 45920, 46070
The market today remained in a sideway mode and has closed almost flat. Chance of a nice trending market can be seen in the coming days.
Wait for the price action near the levels before entering the market.
Nifty daily analysis for 26/07/23.Nifty has traded inside a 100 points range and closed almost flat. A red candle has been formed after a gap up opening.
On the hourly charts, market traded below the 20 ema. Today it remained in a range and made difficult for the option buyers.
A constant rejection from 19700 level was faced by the buyer and market was unable to cross and sustain above it.
On 15 minutes charts, both the moving averages are close enough and a bearish moving averages cross over has been formed.
RSI divergence is there showing some weakness in strength on the top.
Support :- 19635, 19560
Resistance :- 19700, 19760
The market has formed resistances near by and chance of retesting lower levels are high as per the RSI divergence.
Wait for the price action near the levels before entering the markets.
HINDUSTAN COPPERThe Share is showing good support plus break out supported by Volumes.
+It has managed to stay above the breakout levels for the last 4 weeks.
+ Industry in all is in uptrend
+Good Volumes in last few months
Nifty daily analysis for 25/07/23.Nifty on the daily charts have formed a red candle losing 72 points.
The market has closed below 19700 and on the hourly charts, after taking multiple rejection from 20 ema, it closed below the levels.
It has been trading in a parallel falling channel. It also gave a fake out but couldn't sustain above it.
On the hourly charts, evening star pattern formation during the closing hour shows some negativity.
Another flag and pole pattern formation can be there and after a consolidation phase, there are chances of a break out or break down.
On 15 minute time frame, market has closed between both the moving averages.
Support :- 19640, 19560
Resistance :- 19740-60, 19850
Wait for the price action near the levels before entering the market.
Banknifty daily analysis for 25/07/23.Banknifty has been trading in a parallel channel and today in the second half of the session has consolidated forming a red candle.
On the hourly charts, it traded around the 20 ema and closed near to the levels. The market has been consolidating and forming a falling wedge pattern. Break out can good trade points in coming days.
Market traded below the previous day low but didn't travelled to test the lows and took support from the trend line.
On 15 minutes charts, market has closed below the 20 ema and has taken constant rejection from the levels.
Support :- 45850, 45650
Resistance :- 46080, 46260
Wait for the price action near the levels before entering the market.
