Nextweek
Is Nifty ready for the new upmove ??Nifty is creating a falling wedge, along with a hidden bullish divergence in the daily chart !
A strong move can be seen once nifty give a close above 22135 level its immediate target is 22330-350 level. above that new ranges opens up !
Bullish hidden divergence are rare to find overall which indicates the undercurrent is strong for a up move !
Tata Communication: LongNSE:TATACOMM completed the rounding bottom over last 5 months. Yesterday there was a breakout. Today, with the market, it's re-testing the neckline around 1245.
Per the price-prediction over next month, it seems there will be some consolidation throughout next week and there can be a breakout towards 1342 / 1438. SL to be : 1175.
Ambuja Cement : An interesting possibility of cup-handle patternI am seeing an interesting possibility in NSE:AMBUJACEM .
The price-action has the following characteristics:
It's creating an ascending triangle pattern over weeks - bullish
A very long rounding-bottom/saucer pattern formation is completed.
It's near to the price breakout.
Volumes, Cumulative Open interest long buildups all are fine. No issue: Bullish indication
Now I can postulate two possibilities:
If price stays above the horizontal trendline at CMP decisively, the possible higher range breakout is done and its clearly going to go up (shown by a slanting up arrow)
There is a possibility price will retrace back at the ascending line of the ascending triangle then it will come upto the hand-drawn circle in the chart.
Then we need to see if its able to create a Cup-and-Handle pattern from the saucer pattern and get a nice breakout later on.
Which I am applying an interesting Time Series prediction algo (ECHO by LuxAlgo) with cumulative predictive method - I am seeing it's going to be a Cup-and-Handle and then a breakout towards Dussera timeframe. (I know people will laugh at me ... I am just seeing it in the chart by predicting naively the future price looking at the previous price patterns using the TimeSeries prediction with cumulative averaging.
Two additional factors to remember:
Overall, market shows a short term trend reversal.
However, Cement sector is very strong.
So lets see another 1/2 days of price action before jumping into it.
Overall: I am bullish .. now or after Dussehra (Oct 1st week).
Swing: Inox Inox is sort of a mixed signal. It has created a W pattern. However a clear breakout will confirm only after the ~560 level neckline break. In Friday's session there is a shooting star after an uptrend. Volume is also not very good. So it may go down if it sustains below the Thursday's low.
At the same time, the trend Alligator is showing pretty solid buy signal.
Breakout Ready: Aegis Logistics LimitedA clean breakout with high volume is seen in this stock. The Breakout is above a good among of range bound consolidation. Two consequitive days it makes big upmove piercing the long time neck line.
Williams Alligator is also moving upwards.
Brakout Ready:Mm Forgings LimitedMm Forgings Limited
1. A clear neckline breakout from multiple rounding bottoms, a cup-and-handle pattern
2. Very High volume
3. Trend is up
Fundamentals:
1. PE Ratio is half of the industry PE
2. PB Ratio is just 4 - cheap
Nifty - Intraday Levels for 18 July 2022Nifty Levels for Tomorrow..
Trend : Bullish
Sentiment : Positive
Expectation : Strong Bullish
Expecting Nifty open above R1 level with big gap up Open as Global indices and SGX are positive. We can expect nifty to test 16500 next week, so whenever we see a pull back its buying opportunity to go long at the Support levels.. Tomorrow wait for first 5 mins candle close and when price breaks the high of first candle initiate your Long in Nifty.
Refer the chart for detailed Intraday Support and Resistance levels.
Happy Trading!!
Buy Next Week: Schaeffler India Ltd - Cup and Handle Pattern
- good volume
- Current daily closing is testing the 2450 : 4 times.
- Clear Uptreand - Alligator is started eating.
Next Week Buy Cummins IndiaW pattern, then retest, alligator up, volume is above vol-sma, long buildup (in conjecture with price up).
3rd Week of July BUY Bata IndiaBuy BataIndia.
1. Inverted head-and-shoulder
(not classical, somewhat)
2. 3 times hit the 1817 level.
3. Ascending Triangle formation
4. William's Alligator wakes up -- ready to eat!
5. Both volumes and COI goes healthy upwards.
6. Price 50 DMA is crossing over 200 DMA
(50 and 20 DMA are in 1796. 100 DMA is in 1802).
Banknifty - 36000 ??? Support & Resistance Levels for Next WeekHi Traders,
Banknifty looks Neutral, however Nifty shows Strong Buying momentum which is positive sign for Market which may help the Banking sector to Boom. If so Banknifty will also slightly move on the Higher side next week.
Unless there is no Negative news - Expecting Banknifty to Touch 36000 Next Week.
Support and Resistance zones are marked in the chart and Levels for Monday also given.
Happy Trading!!
NIFTY TRADE SETUP NEXT WEEK Nifty currently showing bearish pattern on chart, last trading session closing bearish engulfing candle seen on chart, nifty will be bullish only if above 17350 level closing basis otherwise bearish pattern continue till downside target 16800 in worst case 16500.
if nifty close above 17350 closing basis then bullish formation on chart for upside target 17500-17600 can achieved,
this analysis purely on technical indicators please make your own study and analysis and take call.!
Wish you Happy trading.!
Banknifty Longer view Cup and handle in process for bullish pattern
Bearish Crab activated in harmonics pattern
lets see which one wins the game!!!
ACC Next MoveThe stock is taking support at 21 MA on the daily timeframe and expected to break the resistance. I have marked both the possibilities on the chart as it is following the channel very well.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
UPL for Next week 24 to 28 August IMP level 503
Currently the UPL is 493.4
If UPL gave a breakout at 503 on a 3 minute chart with volume, then buy it at 20 to 30 pt above the high of BREAKOUT candle.
for weekly analysis
BANKNIFTY SHORTBANKNIFTY SHORT FOR THIS WEEK TOMORROW AROUND 30900 LEVEL WITH SL OF 31050
AND TARGET OF 30200
