Multiple Time Frame Analysis
BANKNIFTY may remain in this range for sometime now..As we can see both NIFTY and BANKNIFTY has reached its all time high now as we analysed in previous analysis and hence despite the strong opening BANKNIFTY maintained itself and took itself for its new high! despite the recent new high we can see it closed below 44500 which is also a psychological level which can potentially act as a RESISTANCE now hence till 44500 is protected we can see BANKNIFTY retracing from here now
a long after longafter lomg time a very good long is visible, it seems good rr trade will take if hourly closing happens above resistance else will leave the trade.
Tata Steel Swing1) Weekly Timeframe is bullish
2) Daily Timeframe is also bullish
3) 4HR is in bullish structure
4) Metal Index is also bullish
JK Paper close to demand zoneJK Paper, after facing selling, comes to its demand zone on a weekly time frame. Apart from this in the daily time frame, you can also spot bullish divergence on RSI.
BANKNIFTY at make or break level now..As we can see a strong recovery has been seen in bothy index despite being sideways in the first half. we expected a downfall below 43400 but it painted itself above 43500 throughout the day showing strength giving no signs of weakness. Now we can see BANKNIFTY trading at make or break level as this range of 44000-44200 had been acting as a strong resistance before and hence if BANKNIFTY opens flat then we might expect BANKNIFTY to get rejected at this level before finally heading towards its all time high.
if BANKNIFTY opens strong, a better entry would be if it takes support at our given levels and any signs of rejection at given levels should be a good buy so plan your trades accordingly
GALUSDT SHORT🔴GALUSDT
Let's short👀
Target Entry and Sl mentioned in chart📈
Not a financial advice 😇
Just for educational purpose.
shooting star candlestick pattern on weekly time frameshooting star candlestick is formed on the weekly time frame. As you all know shooting star is a bearish candlestick pattern/reversal pattern and predicts a fall in price. since the stock is trading at its all-time high can't say.
On the other hand, if you watch the chart on a daily time frame, then you can encounter a RSI Divergence.
NECKLINE is yet to be broken down for confirmation of downfallAs we planned our trade yesterday that it has formed more like a head and shoulders pattern in bigger time frame shown signs of good downfall to come in coming trading sessions and also a change in trend but the neckline of the supposed pattern acted as a SUPPORT today despite being weak hence the more the neckline is tested the more it is getting weaker and bigger the fall we can expect with the break of the neckline ranging around 18630-18650
Good fall coming up in BANKNIFTY below 43400..?As we can see the level 43400 has been acting as a strong support till now despite weakness in other index but it has been tested almost more than 6 times already making it weaker hence any closing below 43400 level should give a unidirectional move of over 400++ points in the same day itself. Till BANKNIFTY maintains itself above 43400 levels we might see a range bound market leading to huge premium decay for option buyers so plan your trades accordingly.
Trading journal 🥲 20 trades posted for you guys
4 of them got SL❌ hit without reaching TP 1✅.
That's not the end of my trading 😅 ,no one is 100% accurate in any field.
80% win rate is satisfied for me to be a profitable trader as we can see some of them never touched SL and still keeps growing which is also a very good thing about this journey.
Always trust your plans 👍 ,
Psychology tip:-Don't let FOMO interact your mind or trading plan. Sl tp entry always remain same..never change them once u have set. Just forget after getting into the trade..either hit tp or sl.. don't bring sl to more down and increase your losses or tp to more up to increase your risk of hitting it.
Banknifty weekly analysis for last week of June (26/06/23).Banknifty on the weekly charts has been forming doji after doji and has lost 300 points on week to week close.
It has been consolidating on the higher levels but nifty is not supporting the up move. As nifty is still to form a new ATH whereas, banknifty has formed a new ATH.
On the daily charts, market has formed a perfect doji candle after a gap down opening. Banknifty has closed below the 20 EMA and if it breaks down below 43400 levels it can test the 200 EMA.
The moving averages, on the hourly charts, have converged and are close to each other. Market are yet to decide the trend.
Bearish moving averages crossover is there, on 15 minutes time frame, and market has been taking rejection from 20 EMA .
Support :- 43400, 43120
Resistance :- 43760, 44050
Wait for the price action near the levels before entering the markets.
Zeel Engine seems going to startfib time zone coming july 3 2023 which most probably should make the bottom as it is approaching .786 line. Since coming week is monthly expiry week and also zeel is a stock which most of the time goes against the overall market trend I think it is the time might big brothers are in a mood to start this engine. keep an eye on this counter .
Is this the end of UPTREND...?As we had been analysing since past few days that NIFTY just broke its trendline below and turned itself from uptrend to DOWNTREND with the break of previous swing leading to change of characteristics. Moreover we can see NIFTY has formed more like Head and Shoulders pattern which is also a REVERSAL pattern which could potentially change the overall trend to downtrend with the very break of its neckline.
The neckline of the following pattern can be seen around 18650 levels on the break of which we can expect NIFTY to attain a psychological level and its next immediate swing at 18500 levels which can potentially act as a SUPPORT so keep watching everyone ].
1INCH SHORT🔴🔥🔥1INCHUSDT
Let's short BINANCE:1INCHUSDT.P now
We got a good long on inch before , although entry wasn't triggered but whoever entered on market they were in profits ✅
Resistance holding it well ,hope it throw it back down.
Entry📈. Stoploss❌. TP✅ on chart
BTC UPDATE 31k is our next target
Looking at the big daily candles , it's a very very strong momentum. Which should break above the swing high.
But bair in mind ,We also in weekly supply zone. Which is a strong resistance zone.
As we can see the increased volume,hope it sustain the momentum.
Again don't fall in any trades untill BTC becoms stable.
Btc Dominance is high, Alts won't be reactive to btc proportionally.
Let's wait and watch untill we see the breakout of 31k or a reversal.
NIFTY closed below its trendline! showing signs of weakness?As we can see despite a strong opening NIFTY couldn't sustain itself above 18800 neither did it cross 18900, on the breach of which we were planning to go long and was expecting a good upmove above hence now if NIFTY fails to open strong and rather opens flat to weak then we might see a strong downfall in the first half finally taking support at 18660 levels and the trendline now might act as a RESISTANCE now so plan your trades accordingly
Strong upmove coming up again above 18900..?As we can see NIFTY had been slightly positive to sideways throughout the day and also closed above the given trendline which is potentially acting as a strong SUPPORT hence we might expect a strong upmove if sustained above 18900 else we might see a negative to sideways market in coming trading sessions so keep watching everyone
BTC update Btc is ranging below high time frame supply zone.
Indecision in market.
Better avoide trades. Untill we see one of the mentioned price broken.
If breaks below we will be in short term down trend.
Good luck.
NIFTY ready to fall now?As we had been analysing since past month that NIFTY had been in uptrend ever since but now finally NIFTY exactly got rejected around our level of 18900 and fell unidirectionally till 18700 but it did closed above the trendline showing signs of strength but if NIFTY breaks todays low and sustains below 18700 we might see a substantial fall till 18500 which is NIFTYs next prominent support and a psychological level
REEFUSDT 🚀🚀REEFUSDT LONG
Lev 3-7X
Entry 0.1570-0.1554
Targets- 0.1593 (book 50% and move sl to second entry point) 0.1670 50%
