Inverted head and shoulders pattern for NIFTY..?As we can see NIFTY got rejected exactly from the median as analysed in our last post. We still expect NIFTY to remain sideways to negative below the median unless it breaks and sustains above hence we can expect a good upmove if breaks above as it can be seen forming more like an inverted head and shoulders pattern so plan your trades accordingly guys.
Multiple Time Frame Analysis
Exact REVERSAL from our given median! What’s next!?As we can see despite the strong opening around our given levels provided in our previous post it fell and remained sideways to negative throughout the day and hence is expected to remain the same unless NIFTY breaks above the median of the channel. We may see new ATH in NIFTY if it closes above the median and our important zone till then we can expect sideways to negative market so plan your trades accordingly.
Is this a start of NEW TREND ..?As we can see despite the weak opening NIFTY recovered strongly and manages to close itself inside the trendline which shows the structure is still intact. Now next eminent resistance can be seen is around 22200 level which has been acted as a level of indecision for quite some time now hence we may expect NIFTY to reject around those area till it finally breaks out for its new ATH so plan your trades accordingly.
JIO FINANCE - GO LONG, STAY LONG!This stock is going to be bigger then Bajaj Finance in very near future. Cost of borrowing funds for this NBFC is going to be the lowest for any in its peer group.
In future (few years from now) there is a chance of JIO AMC and other potential demerger.
Wait for lower levels as marked and hold on to this gem.
NIFTY at make or BREAK level As we can see NIFTY has finally reached its psychological level of 22000 and also reached trendline which had been followed and acted as resistance ever since. As long as we are above the trendline , we may expect NIFTY to remain sideways to bullish but the trend would change instantaneously if it breaks below and we may see a huge downfall in NIFTY so plan your trades accordingly.
Stock Selection Based on ATH/52 Week Stock and Relative strengthHello community
Here I will be talking about the process for picking up the stocks based upon the All Time High (ATH)/52 Week BO Stock and RSI . As this is known to everyone but only few are getting benefited by applying it in real trading. The stock represents strength if it breaks its ATH Level and comes from Weekly BO Base. Most of the gains are made with the stocks breaking its ATH and Coming from Weekly Base BO and once it is combined with the RSI and Price Volume this can do wonders and improve trading style.
In my earlier write up i also talked about the use of RSI with Screener from Tradingview only. Since i used this as my repository so save all my write up here only and can be viewed.(Stock Selection Based on Relative StrengthEDUCATION)
Screener for Stock Selection in Trading View:-
- Go to Stock Screener Tab at bottom in the Tradingview.
- Go to Filters
- Symbol Type - Common Stock
- Select New 52 Week High-
- Select New All Time High
- Select Relative Strength Index (14) >=75
The above will filter out stocks based on ATH and 52 Week High stocks and RSI. You can add more filters according to your requirements and make your stock list more refine and Make a list and look for opportunities.
I use the above filter to filter out stocks every weekend and mix it with Price and Volume to get Maximum Benefit.
As I am a Price Action trader I mix Price/Volume,Trend and ride the momentum.
You can try it and submit your feedback to me. Also, Tell me if you find something else which can be useful to the community. Together we can help each other in Learning and excel in our profession.
Remember: I am a Price Action Trader and use Price and Volume together with different Timeframes, including RSI, and market conditions. To get the best result, always wait for confirmation. Focus on Risk Management and Position sizing.
Treat trading like a business and it will pay you like a business…..!!
Hope this post is helpful to community
Thanks
RastogiG
Disclaimer and Risk Warning.
I am not a Sebi registered analyst. The analysis and discussion provided on in.tradingview.com intended for educational purposes only and should not berelied upon for trading decisions. RastogiG is not an investment adviser andthe information provided here should not be taken as professional investmentadvice. Before buying or selling any investments, securities, or preciousmetals, it is recommended that you conduct your own due diligence. RastogiGdoes not share in your profits and will not take responsibility for any lossesyou may incur. So Please Consult your financial advisor before trading or investing.
NIFTY getting ready to REVERSE..!As we can see NIFTY can be seen heading towards important psychological level and also the trendline which had been acting as a SUPPORT since last month now. Now till NIFTY sustains itself above our trendline SUPPORT, every dip could be a buying opportunity but if fails to take support then we may see a panic selling in market so plan your trades accordingly.
Nifty weekly expiry analysis and levels for intraday 17/04/24.Nifty in the last 2-3 sessions has lost 400 points which shows some bearish basis market but it will retrace before another fall.
In case of a gap up opening, there will be a sideways expiry for nifty. Otherwise, after a gap down, there will be a recovery or profit booking in positional/swing trades.
It trading below the 20 ema (daily) and may come to retest the moving average or previous support levels.
Major support levels :- 22095, 22000
Resistance levels :- 22210, 22270, 22430
Negative price action formation around the resistance/support level can be traded in intraday with strict SL.
Wait for the price action near the levels before entering the market.
NIFTY heading towards 22000 now..?As we can see NIFTY opened and had been weak throughout the day as analysed in our previous post and managed to sustain itself below the middle quadrant of the channel hence we can expect another fall till 22000 which is its next upcoming DEMANND ZONE and PSYCHOLOGICAL LEVEL hence till NIFTY maintains itself in the base quadrant, we can expect NIFTY to remain weak so plan your trades accordingly.
📈 Petronet LNG - Multi-Year Breakout Alert! 🚀🔍 Setup : Multi-year breakout setup
📊 Analysis: Bullish trade! 🐃 Significant volumes detected, with a supportive sector. Key levels from October 2017 and September 2019 have been breached, and the price is sustaining well above them. 📈
Share your thoughts! Like and comment below! 💬 Let's capitalize on this breakout opportunity together! 🌟
#PETRONET #BullishTrade #MultiYearBreakoutSetup
NIFTY just got weak! As we can see NIFTY started to get rejected exactly from our given trendline as analysed in our previous post. Now we can see NIFTY heading towards 22400 which is also a psychological level but if NIFTY opens even weaker then we can see NIFTY heading towards 22000 being final support so plan your trades accordingly.
NIFTY ready to get rejected As we can see NIFTY is heading towards important trendline resistance which has been followed since last few months now. But as long as NIFTY doesn’t closes and sustains above the given trendline, we are bearish and we can expect NIFTY to show another retracement making another shoulders for completion of inverted head and shoulders pattern for another LIFE TIME HIGH so plan your trades accordingly
NZDCAD - Swing Trade on Buy SideSymbol - NZDCAD
NZDCAD is currently trading at 0.80920
I'm seeing a trading opportunity on buy side.
Buying NZDCAD pair at CMP 0.80920
I will be adding more if 0.80200 comes & will hold with SL of 0.79000 - 0.79200
Targets I'm expecting are 0.82500 - 0.82800 & beyond.
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
USDJPY Buys [Daily Swing + Fundamentals] USD is fundamentally bullish given strong NFP (<250k), JPY is bearish given the recent IR Hike. No fundamental divergence to be seen. Possible MTR observed on the 4H. Entry on a pullback to the Daily Key Price Area, SL before the lowest swing of the pullback.
MATTER or CONCERN..?As we can see NIFTY is now trading at higher level of channel and we also saw signs of weakness around that. Hence further unless NIFTY manages to break this channel and sustain itself above, we may see NIFTY being weak to sideways in coming trading sessions so plan your trades accordingly.
ORDI will break out of consolidation ORDI has been in this range for a while now. It's a big range and consolidation was much needed after a huge rally.
Now, Ordi has testing 70.5 to turn into support. Invalidation for this trade is a daily close below 58
A move to 150 is in the books in the coming months.
Not financial advice. Just sharing my thought.
MCX BULLDEX HEADING FOR A CORRECTION ?MCXBULLDEX is currently trading at 17350 which is a long term resistance zone (17300-17700) for it.
I'm expecting a profit booking in MCXBULLDEX from these level.
I'm creating short positions at CMP 17350 & will be adding more short positions if 17650-17700 comes & Hold with 18000 as SL.
I'm expecting minimum 1000 point fall from here & expecting 16400-16200 levels soon.
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
Another new ATH for NIFTY but will it sustain..?As we can see NIFTY made another ATH back to back after breaking out of an inverted head and shoulder pattern, we also saw a new ATH for BANKNIFTY as analysed in our previous post. Now BANKNIFTY has formed more like an indecision cancel and NIFTY closed at important zone followed by a rising wedge pattern which is also a bearish pattern hence any break of the pattern below could lead to a big fall or rise of a new trend so plan your trades accordingly.
ATH for BANKNIFTY! As we can see BANKNIFTY is just couple points away from its ATH mark as we had been analysis since last posts. Now any strong opening will bring up new ATH for BANKNIFTY. Now the question arises whether BANKNIFTY can hold its level or not! If YES which has majority changes as the election is coming and the most obvious news is yet to be factored in, then we can see 50000++ in coming few weeks too so plan your trades accordingly