- Yesterday, on the Technical Analysis front, we highlighted Bullish Harami Candlestick pattern suggesting up movement
- F&O Data analysis confirming stronger hands on buy side (FIIs buying Index Futures & Proprietary traders selling Put Options)
- After opening & trading in red, Nifty immediately jumped in to positive territory and managed to close 135...
ON DAILY CHART,FORMED A FLAG PATTERN
PRICE IS GOING DOWN ON DECLINING VOLUME.BEARISH CANDLES HAVE SOME VOLUMES THAN BULLISH CANDLES
PRICE IS ALSO CURRENTLY TAKING SUPPORT ON TREND LINE
NOT CLEAR WHETHER PRICE WILL MOVE HIGHER OR NOT COZ OF VOLUME ACTIVITY INSITE FLAG PATTERN
IF INCASE PRICE BREAKS 872.5 ON EXPANDING VOLUME ,THEN BULLISH...
Since March 24, 2020 Nifty had begun its D wave of a NEUTRAL TRIANGLE (a special type of NeoWave pattern). This D wave has formed a Bow-Tie Diametric pattern.
All calculations are marked in the chart.
As G wave of a diametric pattern tends to equal A wave, the possible culmination of this wave is very near at 13100 levels and E wave of the NEUTRAL...
I had given an outbreak call on ITC based on a condition.
Condition being, if it breaks above 175, we could see a big move.
Just look at the charts. It reversed exactly from the resistance. Now, it has moved swiftly towards the support.
There can be two trades here.
1. If ITC pierces through the support, it is a short below 166. Short at 166. Target at 157....
STOCK IS AT ALL TIME HIGH, IF MANAGES TO CLOSE ABOVE 860 ON MONDAY ON 15 MIN THEN IT CAN FLY HIGH LIKE A ROCKET, TARGETS WILL BE 872 AND 887 RESPECTIVELY IN SHORT TERM(2-3 DAYS) BUT CHANCES ARE LOW, IF IT FAILS TO BREAK IT CAN AGAIN TEST 830 LEVELS SOONER
FOR ATH STOCKS I USED FIBS EXTENSION FOR PLOTTING TARGETS, BEST TOOL OUT THERE
Voltas is forming a triangular pattern in 1 1 hour time frame and taking support on daily time frame parallel channels.
I'm expecting a break out in near time. Keep an eye on this stock expect a good rally whatever side it breaks.
Planning to trade for Intraday or max 2-3 days in holding.
Stop loss must be below the immediate swing or support level.
Nifty - Technical Analysis:
-Nifty was up 21.10 points or 0.19% at 11,355.
-It gapped down today and dropped to 11250 but bounced back from the support and closed postive.
-Nifty forms a doji again on daily chart indicating indecision in markets. Swing traders are advised to take their profits and wait for further levels before taking positions.
Britannia formed doji candle on daily time frame and contracted within previous day's candle.
The high/low can be traded with a conservative target at the mother bar's high/low range.
Long above 3407
Short below 3344
NOTE: Trade with confirmation of momentum & volume on lower timeframes in intraday.
VOLTAS showing a clear pullback move on daily timeframe candle.
Preceding impulsive red candle with a large range followed by a small ranged green candle, hence trade the breakout of the pullback green candle in either direction.
Long above 559.1
Short below 544.9
Target 1% in either direction.
NOTE: Trade with confirmation of momentum & volume on lower...
BANDHANBANK broke the trend line near to it's support can potentially go up but i am not sure about this because of their earning results and so think it can go down ( 75% chance ) to 225 selling point can be 230
BUT I WILL NOT TAKE THIS TRADE AS RISK REWARD NOT THAT GOOD
please tell me you find any error in this and suggest me stocks that i should analyse