As we can see after much of consolidation BANKNIFTY finally broke down and fell over 1000++ points in just 2 days! Now watching the global cues we can expect a gap down opening tomorrow and hence opening near 42000 mark which is a supposed strong support and also a psychological level we can see a strong upmove hence we should wait for signs of reversal before...
Normally I don't do sectoral analysis but this one demands our attention, fundamentals & price action are both looking good for the metal index. As mentioned in my detailed analysis of tata steel, even the metal index did a possible bear trap. Fundamental wise this sector is the most hottest for the coming weeks/months as China opens up & the COVID wave peaks over...
LT on the daily formed a possible bear trap by closing below the trend line & then showing a v shaped recovery from there. On the hourly it has closed above the downward sloping trend line resistance but it was not a convincing break. There are 2 major supply zones sitting on top of it, the first one is a very small zone which has a less probability of holding...
Titan seems to be forming a bullish scenario & can be bought on dips. On daily it formed equal lows & broke the downward trend line with high volumes. Near the equal lows it also did a classic wyckoff accumulation on a lower timeframe. After breaking out of the daily trend line it also formed a very big volume imbalance. Strategy 1 - wait for price to come to the...
As we analysed BANKNIFTY made very obvious with its inverted head and shoulders pattern showing hope for strong uptrend but trapped all retailers around our given levels of 43570 levels and fell over 500++ points but we can see BANKNIFTY closing around 42900 which also shows BANKNIFTY is still in uptrend hence we might see a good GAP up opening tomorrow as...
BAC looks very bullish from weekly and needs a pullback to head higher. Not financial advice Not responsible for other actions Just my personal journal
inter-market analysis can be tricky but even as the USDINR hit a new high yesterday, the last two days bounce on hourly charts is a-b-c, what that means is that it is not a new move but the end of something. If USDINR closes down today after that it would add weight to a positive near-term outlook for the Nifty given the historical inverse correlation between...
TCS is finished with monthly and is getting ready for another bullish cycle. Just for structure break on daily. Not financial advice. Just my journal
Maruti is showing bounce from the trend line active from it's Apr 2020 low, it also has covered a "volume imbalance" zone on the daily chart. While on the hourly it has given a break out from the downward trend line. Any further bullish momentum could lead to a good rally in the stock, I will prefer waiting for sometime as the break on the hourly is still not...
Stock observed to be in down trend Negative reversal observed next support @71 Bearish for next week CMP 84.05
As we can see BANKNIFTY despite being in uptrend we can see BANKNIFTY trapped in a range, as we analysed yesterday BANKNIFTY was taking support at the neckline of the inverted head and shoulders pattern and after a successful gap up opening, we saw BANKNIFTY taking support at the neckline but went sideways throughout the way! we can expect banknifty to remain in...
This is Weekly Income Trade(WIT) .In multi time frame analysis weekly time frame trend is down and daily trend is down So take short at-326.65 SL-331.45 TGT-313.20
As we can see BANKNIFTY after facing strong rejection from 41500 levels had been in uptrend ever since, now we can see BANKNIFTY took support at the neckline of the inverted head and shoulders pattern hence we can expect more of upmove if sustained above the neckline but if sustained below the neckline then we might see sideways to negative market
As we can see BANKNIFTY showed strong upmove in the closing hour but we can see an very eminent resistance and a psychological level of 43500 which could potentially act as BOTH a resistance and a support hence any strong opening above the given level could act as a support but if opens weak than it could act as a stromg resistance so we must take trades based on...
Hey traders, here is the analysis for the USDCAD. If you guys like my analysis please hit like👍 and follow. Thanks. DISCLAIMER:- This is not financial advice.
As we can see NIFTY is now trading around its important resistance which previously acted as a strong support previously hence we can expect NIFTY to reject from here but if nifty sustains above the given level, this level might act as a support again giving rise to new highs so keep watching everyone and be ready for either side move
With bank nifty bouncing exactly from the daily trend line, things are looking good there for bulls. Nifty is a different scenario altogether, just like I posted in my analysis of LT & Tata Steel. All 3(nifty, LT & Tata Steel) gave a possible false breakout of the trend line & started a V shaped recovery from there. LT & Tata Steel have already given 1 break of...
As we can see NIFTY reversede exactly from the given level as analysed now we can see NIFTY heading towards its previous swing which could potentially act as a resistance, now we can look at important level being 18410 to which a strong rejection can be witnessed so we can expect a sideways market trading in a range so keep watching these important levels