As we did analysed yesterday that though it broke below support but it did closed above 35000 and it showed a hope of another bull run and that’s where all retailers got trapped by this huge gap! Though we saw the these huge gap but BANKNIFTY remained sideways the whole day being in a range! Important level to watch is 35800 for next trading session if opens flat...
As we can see BANKNIFTY had been facing resistance from the trendline from last month and though it showed weakness it finally closed above 35000 which shows there is still hope for some upmove but for confirmation we should wait for 35650 to cross as it would also break the trendline above
risk: Reward ratio is 1: 2
Rest as per Charts
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Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at...
risk: Reward ratio is 1: 2
Rest as per Charts
********
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at...
On hourly time frame the stock is forming a flag and pole pattern but Rsi is showing a negative divergence.
Reliance can give good move on either side.
Support:- 2385, 2314
Resistance:- 2406, 2455
The consilidation is the main part of trend formation. The stock has rested and will give nice targets on both sides,
Look like upside opportunity and some gap to be filled ad good buying opportunity upto 840 and closes below it may go downside and upside target of 927,944
NSE:SUNPHARMA
Hi Traders & Investors
In the last forecast we talked about pharma index is its last leg and we will see an positive structure from here. So here is the wave count of sunpharma to compare pharma index with it.
Pharma will be on buy on dips for now.
For more updates keep wathing us.
Thank You
As we can see NIFTY after its breakdown has been hitting its resistance which previously acted as a great support for a long time but finally we can see a strength and we can also see more like an inverted head and shoulders pattern which is also showing strength in bigger time frame! For confirmation we can wait for 16850 which is a strong resistance as this had...
In weekly chart (note: two crucial sessions are remaining in a week) , BNF taken a support from Area of Confluence and if current week candle closes above Rs 33305 i.e. 1st Feb-21 budget candle high (refer below chart), we can consider trend reversal.
In total in three gap created by BNF past 20 sessions, every gap will act as support & resistance for...
AUDCHF has been on a bullish run lately and expecting more of it on Friday. The ideal scenario would be a swipe of liquidity below the recent lows and tap into an order block. Confirmation of shift in structure on a lower time frame would trigger the entry for a minimum 3R. Lets see how this pans out.
Grasim is just near a weekly time frame resistance zone.
Short the stock, if the price break down below 1540.
Support :- 1541, 1500-05
Resistance zone:- 1572-1597
On daily closing basis the price has closed near the resistance zone.
Wait, watch and trade.
As you can see NIFTY had been in downtrend since last month and had been following a trendline and from same trend-line we saw a great rejection! Moreover the previous acting as strong SUPPORT can now act as a Good resistance, level being 16800-16850 acting as a great resistance! Hence we will only go long and we can expect a sharp recovery if the above resistance...
Nifty on hourly time frame closed above the crucial moving average.
50Ema will act as an immediate support.
Key support:- 50EMA, 16145
Resistance :- 16410, 16500(round figure)
Today's nifty was bullish and may continue a bullish movement once it breaks today's high and sustains above it.
Hdfc bank on a daily timeframe has formed a bullish engulfing pattern with volume confirmation.
It is the basic candlestick pattern with shows the reversal in trend.
Support:- 1300(round number)
resistance:- 1327, 1357
The pattern is bullish.
Trade only when the price sustains above 1327.
Bank nifty is near resistance of 33206 and 20 EMA.
Go long, once a hourly candle sustains above the resistance and its 20EMA.
Short market only when it breaks the crucial monthly support level of 32161.
Support levels :- 32161, 30993
Resistance levels:- 33278, 34111
![DIVISLAB: [ INTRADAY ] DIVISLAB LONG BET](https://s3.tradingview.com/d/D0MKeQSc_mid.png "[ INTRADAY ] DIVISLAB LONG BET")
![SUNPHARMA: [ INTRADAY ] SUNPHARMA LONG BET](https://s3.tradingview.com/5/5tSz4bdJ_mid.png "[ INTRADAY ] SUNPHARMA LONG BET")
