UPTREND STOCK ON SUPPORT!The stock is currently at the support zone of its uptrend and also taking support on the 44 SMA.
The targets are mentioned for swing trading and one can hold it for short to long term as it will always have a new high if the uptrend continues.
DO NOT TRADE IF BREAKS THE TREND LINE.
DISCLAIMER - Analyse yourself before investing.
HAPPY TRADING
Moving Averages
200 DMA Gives excellent support Adani energy Has good consolidation actullay there is Darvax box
or parllel channel can be drawn on chart but will make it look messy so kept the chart plain and simple 200 dma itself is acting as lower channel
best price to buy near to 200 dma
disclaimer- this is not any investment call or idea , this just my view and it can go wrong ,this is only for educational purposes trade at your own risk
Barbeque NationTechnical Analysis:
Over the past year, the stock has maintained stability without experiencing any significant price dips. Notably, the price has been trading close to the 21-day Exponential Moving Average (EMA), while gaining solid buyer momentum on the weekly chart. Buyer momentum on the monthly chart also appears positive, reinforcing the overall bullish sentiment. Additionally, trading volumes show a marked increase in buyer interest compared to previous years.
Key Resistance Levels:
Three resistance levels have been identified. A breakout and sustained movement above the first resistance level (R1) will be crucial in signaling stronger upward momentum in the years ahead.
Potential Risks:
The primary risk to the stock’s upward trajectory is the possibility of a broader market correction, particularly influenced by uncertainty in the index and geopolitical tensions, such as the ongoing conflict between Israel and Iran.
Disclaimer:
This analysis is intended for educational purposes and is not a recommendation to buy. It is important to learn how to recognize and understand patterns in stock movements.
Asian Paints - Range Bound StrategyCMP - 3048
TGT - 3582
⚡️Disclaimer: Any of my posts should not be considered as a Buy/Sell/Hold recommendation. This analysis is for educational and learning purpose only⚡️
Description:
A range-bound trading strategy refers to a method in which traders buy at the support zone and sell at the resistance zone for a given stock. If price has bounced back multiple times from support and corrected multiple times from a particular resistance zone, this creates a good range to trade.
Typically, traders use range-bound trading in combination with other indicators, such as RSI or MACD
Banknifty weekly expiry analysis for 14/08/2024.Banknifty has closed below the 50k mark and is looking bearish on the daily charts.
It is trading around the 100 ema on daily time frame, which shows some bearishness in the markets. If the market starts trading below today's low, there are chances of it testing the recent low around 49650.
MA strategy and the price action both are signifying some bearish movement in the market.
Hourly charts are trading below the moving averages. A bearish market will be confirmed if the market starts breaching the support levels, after a flat or slight gap up opneing.
If there is a follow through candle in the market, there are chance of testing 49k levels soon.
Major support levels :- 49670, 49400
Resistance levels :- 50000, 50250
Tomorrow is expiry and vix is around 16 which is good for option buyers
Wait for the price action near the levels before entering the trade.
Nifty50 weekly expiry analysis for14/08/24.Nifty is trading in a parallel channel and is around the support trendline. From the last week sell the markets recovered and are now again around the lower levels.
Daily 20 ema has been creating a resistance for the market and a good rejection is seen from that level.
Even on the smaller time frame, market is trading below the moving averages, which signifies a bearish market.
Fibonnaci and the price action are also looking bearish on the daily charts.
Tomorrow is the weekly expiry for both the indices and a chance of seeing a follow through candle are there, if there is a flat to slight gap up opening (around 24150-180).
A huge gap up will create confusion and market may form a doji candle.
Major support levels :- 24090, 24000, 24910
Resistance levels :- 24225, 24320
Wait for the price action near the levels before entering the market.
XRP 1HR timeframe XRP on a 1HR time frame is looking bullish. We can open a long position for the short term for the following reasons.
1. Xrp has given a breakout on the bull flag pattern.
2. Below we have a support of 200 MA
3. We have not seen the rally since the good news of XRP which people waited for too long
This makes XRP strong fundamentally and technically.
FinNifty weekly expiry analysis for 13/08/24.FinNifty is trading around the round number figure of 23k and has taken resistance from 61.8% fib levels.
There is a down trend confirmation in the market and sell on rise is the market cycle.
For last two trading sessions market has been trading between 20 and 50 ema. If market starts trading below 22800 levels, 22600 shorting target can be achieved and further is can test the recent low fo 22480.
There is not much movement or follow through after the bullish candle and the last hour fall show there are chance of market going for selling.
In case of a gap up opening, the market can go for a gap filling trade upto 22350.
Major support levels :- 22960, 22820
Resistance levels :- 23160, 23233
Watch for the VIX and price action near the levels before entering the markets.
RALLIS - Rounding bottom break out and retest setupRallis India has given a break out of a rounding bottom on Daily time frame and is currently retesting. Taking support from 20 DEMA. The setup looks good for a possible 40% upside from current level.
*** For educational purpose only. No buy / sell recommendations.
Laxmi Organic IndusTechnical Analysis Overview :
The stock price has been fluctuating within a range of 236 to 290, with a well-established support level at 220. Recently, there has been a notable 60% increase in weekly trading volume compared to previous weeks. Additionally, three key resistance levels /targets (R1, R2, and R3) have been identified.
Positive Indicators :
1. Strong Buyer Momentum : The MACD on both the weekly and monthly charts indicates robust buyer support, suggesting positive momentum in the stock’s price movement.
2. Price Stability Relative to the 21 EMA : On the monthly chart, the stock price has remained relatively close to the 21-day Exponential Moving Average (EMA), which aligns with the positive signals observed in the MACD. This suggests that the stock's upward trend is sustainable and supported by underlying momentum.
Potential Risks :
The primary risk to the stock’s upward trajectory is the possibility of a broader market correction, particularly influenced by uncertainty in the Index and geopolitical tensions, such as the ongoing conflict between Israel and Iran.
Disclaimer :
This analysis is intended for educational purposes and is not a recommendation to buy. It is important to learn how to recognize and understand patterns in stock movements.
Cup & Handle Formation in DEEPENRA cup and handle pattern is being formed in weekly time frame of DEEPENR. Watch for close above 195.
Sharing only for educational purpose.
Buy Nestle India: Bullish Wedge Retest OpportunityTrade Idea:
Nestle India recently broke out of a bullish wedge pattern and is now retesting the breakout level. Additionally, the stock has been rejected from the 200 EMA , which adds to the significance of the current setup.
Entry Point : Buy at ₹2500
Stop Loss (SL) : ₹2427
Target Price : ₹2890
The setup offers a small stop loss relative to the potential upside, making it an attractive trade. Ensure to manage your risk and stay updated on market conditions.
Disclaimer : This trade idea is for educational purposes only. Always conduct your own research and consult with a financial advisor before making any investment decisions.
ZYDUSLIFEThe chart is self-explanatory and shared for educational purposes. The ZYDUSLIFE stock is trading above the 50, 150, and 200 moving averages. The resistance level has been broken with a small correction and is now sustaining above it. This resistance could now act as support. Considering the current aspect, the stock could move further upward.