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Multiple Time Frame Analysis

NIFTY again got rejected from demand zone! getting weaker..?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 till NIFTY sustain itself 17200-17250 we can buy the dips, on the other hand we can see a big fall if NIFTY breaks the neckline hence keep watching everyone
NSE:NIFTY
by Wealthcam
BANKNIFTY back at MAKE or BREAK level..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 BANKNIFTY making new highs but on the other hand if BANKNIFTY fails to sustain itself above 41700 levels then we can expect this as a false breakout and the downtrend might continue so keep watching and make positions accordingly
NSE:BANKNIFTY
by Wealthcam
Exact rejection from our levelAs 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 be done if BANKNIFTY sustains itself above 41500-600 levels else we are stilll in downtrend being shown a fake breakdown
NSE:BANKNIFTY
by Wealthcam
BANKNIFTY at make or break level..!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 signs of rejection is 41500-41600 levels and any closing above the given level could change the overall trend to UPTREND so keep watching everyone and wait for confirmation for the change in trend
NSE:BANKNIFTY
by Wealthcam
Pidilite Industries - Short Candidate - Broken Imp SupportAccording 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 targets shown on the chart, one can short with a stop loss of 2560. If the candle closes below 2381 on any given day, expect 2200 in the coming sessions, which would be a good base to go long in this stock. Let's see how the story develops. Best wishes! Disclaimer - - The opinions expressed here are my own. This is for my own records as well as what I see on charts. - If you are referring to this, please keep in mind that it is only for educational and research purposes. - Past performance is no guarantee of future results. - You must accept responsibility for any decision you make. DO NOT TAKE THIS AS AN INVESTMENT RECOMMENDATION. - It's your hard-earned cash. Trade / Invest wisely, keeping in mind your trading style, goals and objectives, time horizon, and risk tolerance. - Before investing, conduct your own research and consult with a financial advisor. TIA!
NSE:PIDILITINDShort
by nerdywasabi
2
NIFTY closed around demand zone, ready for upmove..?As we discussed yesterday that NIFTY might show a rejection and one position be made and similar to that we saw a strong rejection around the demand zone now we if nifty opens strong we might see a strong upmove tomorrow if sustained above the given support on the other hand if opens weak and breaks todays low then we might see a bug fall incoming so keep watching as tomorrow’s opening is going to be really important so keep watching everyone
NSE:NIFTY
by Wealthcam
banknifty intradayif it is opening sideways then we can execute this plan , wait for strong bullish candle in 15min, 2nd target 200ema if it is opening little bit gap up and it is sustaining the gap then we can plan for long side. if it is breaking 39700 then I will think about short side. In 1D timeframe it can make morning star. both side potential but I am interested in long side wait for 15 min candle closing targets are marked follow risk management do your own analysis do workout do meditation start reading books
NSE:BANKNIFTY
by hunterhunt777
Will BANKNIFTY continue the DOWNTREND..?As we can see BANKNIFTY had been in downtrend and despite trying to break the structure and level of 41800 above but failed to do so and fell unidirectionally from there the downtrend would have been confirmed if BANKNIFTY closed below 41000 mark but failed to close below which shows 41000 being a psychological level acting as a great support hence if BANKNIFTY closes below 41000-40800 mark then we can see 1200-1500 downside in upcoming trading session but if opens strong then another day of consolidation can be witnessed so keep watching everyone
NSE:BANKNIFTY
by Wealthcam
BANKNIFTY couldn’t sustain, more of sideways market incoming??As we had been analysing that BANKNIFTY is expected to show unidirectional move if crosses and sustain itself above 41800 but it failed to do so despite the strong opening but on a brighter note this confirms the resistance has gotten very weak and any closing above 41800 could show huge upmove so for now we can again expect negative to sideways market in BANKNIFTY unless it sustain itself above 41800 so keep watching everyone
NSE:BANKNIFTY
by Wealthcam