This is my analysis. Please don't take it as trading or financial advice. I'm not a certified financial/ investment advisor. Please comment on your insights so that we can discuss better opportunities.
Analysis:
daily, and weekly liquidity taken
Scenarios:
a) If a sell order block is formed with a high volume in kill zones at 2000 0r 1940 levels then look for...
As we can see NIFTY has shown intense rejection from our demand zone but it is still in downtrend as of now but the next immediate target for NIFTY can be seen around 17300 which was also a neckline for head and shoulders pattern hence NIFTY might show substantial upmove till 17300 levels unless it get to the point where and actual change in trend can be witnssed...
As we can see NIFTY showed amazing REVERSAL from our demand zone and recovered almost 300++ points from bottom and made an indecisive candle which shows we can see bears getting weaker and bulls overpowering the bears hence till 16800 is secured every dip should be a buying opportunity
As we can see NIFTY has shown one sided fall from head and shoulder pattern breakdown hence the next emminent important level can be seen around 16800 which is also a psychological level hence any signs of reversal around the given level can show good upmove hence keep watching as we might see a strong upmove around given level
As we can see NIFTY did show some good fall but despite the fall we can still see NIFTY has some space to fall till 16800 hence if NIFTY couldn’t sustain above yesterday’s low we can see more of fall incoming till 16800 before finally reversing hence we must focus on hesterdsys low and make sure its taken out before going short as we might see some volatility...
As we discussed in the last analysis that nifty has formed more like a head and shoulders pattern and the break of neckline of that very pattern could show strong bearish move hence now we can see NIFTY has more space to fall till its next support standing around 16800 levels hence if NIFTY breaks yesterday’s low we can makw another short position else nifty might...
As we can see NIFTY again got rejected from our demand zone which we have made earlier and the zone 17250-17300 has been acting as a important zone of inflexion and this level has been already tested multiple times making it weaker hence if NIFTY fails to sustain itself above given level then we can see a big fall as we can see a head and shoulders pattern hence...
Key points:
1) Stock is forming hidden bullish divergence.
2) On weekly and daily time frame stock taking support on rsi 60.
3) Stock trading near ATH.
4) stock taking support at 20 days moving average.
As we can see BANKNIFTY exacting got rejected from our given level as analysed and the whole scenario was discussed in the last analysis now again it closed at crucial area as despite falling unidirectionally it has closed above the trendline which shows a potential upmove pending if BANKNIFTY tends to open flat and strong hence any strong opening would be a good...
As we can see BANKNIFTY has again closed around its important resistance and a psychological level of 41500-600 levels hence now there could be only two scenarios now, firstly BANKNIFTY has confirmed the breakout by testing the trendline which previously acted as a resistance and now acting as a support! only if BANKNIFTY closes above 41700 levels we can see...
As we can see as we analysed BANKNIFTY faced rejection exactly around 41500-41600 levels and fell over 300++ points now it is standings at a very crucial level as despite the fall it closed above the trendline and hence this closing above the trendline could either act as a retest to the breakout or the start of new fall hence the breakout confirmation will only...
As we can see BANKNIFTY had been in downtrend since last year now following a trendline which shows further bearishness and the trendline is acting as a RESISTANCE to the swings hence we can expect a good move either side following the break or resisting at the trendline and falling down, important resistance and psychological level from which BANKNIFTY might show...
As we can see NIFTY opened flat and had been weak throughout the day but the closing had been seen at important demand zone hence we can expect NIFTY to open gap up and strong and unless NIFTY doesn’t break yesterday’s low we can make long position for 160-250++ points easy
As we can see NIFTY took support at important demand zone as analysed and did closed above the demand zone and watching it close we can also see more like a W pattern which is also a sign of REVERSAL hence any strong opening with closing above today’s high could show a strong unidirectional rally hence keep watching everyone
As we can see NIFTY has technically broken down the support and hence any weak opening can show good fall below today’s low on the other hand if opens strong we might see sideways to volatile market today so tomorrow’s opening is going to be really important keep watching everyone
According to price action, NSE:PIDILITIND is showing signs of exhaustion and weakness. Reasons why I think this is a short candidate -
1) Both the Daily and Weekly candles appear to be weak.
2) Future OI has been unwinding long for the last 5 days, and there was short build up in this stock today as well.
3) DTF has formed a bearish marubozu candle.
4) For the...
