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Nifty50

05 Jan ’24 — BankNifty gets a sharp reversal at 14.19 & pulls UPBankNifty Analysis - Stance Neutral ➡️ BankNifty opened inline and was looking quite decent till 10.07. The fall that came after that took out 559pts ~ 1.16%. Not quite sure what triggered that fall. Due to this, the impact was felt even on Nifty50. NiftyIT was roaring green at one end and then BankNifty underperforming at the other. 4mts chart link Remember, we changed our stance from bearish to neutral yesterday and this fall started creating conflicting thoughts in our mind. What if the price action we had yesterday was a blip? But we got the right answers between 14.15 to 14.31 when Nifty50 managed to pull back. This also lifted BankNifty to ensure a flat closing for today. 63mts chart link The neutral stance continues. On the downside, we have protection at 47539, and on the upside, the channel bottom line will prove as a minor resistance. As long as BN stays between these two, we will be glad to look out for non-directional option strategies.
NSE:BANKNIFTY
by viswaram
SBI: A Bullish TriangleUsually this wave structure forms in an impulsive sequence as wave 4 . It consists of 5 sub waves as wave-a , wave-b , wave-c, wave-d and a final setback wave-e . Each of these waves consists of three wave internal structure. Each of the waves should not break their extreme points. The final confirmation to enter the position comes when the price gets close above the level of wave-d. The minimum target of the pattern is just a poke above the level of wave-b and just above the level of wave-3 of the impulsive count. There is also a guideline to predict the target of this pattern which is known as triangular thrust. The triangular thrust is the measurement of the distance from the level of wave-a to the level of wave-b . This measured length should be kept at the point of completion of wave-e (conservative approach) or to the breakout level of wave-d to get the target of this pattern (aggressive approach). Trading strategy: Buy on CMP 642, add on dips, keeping the SL of 627 look for the target of 660/680-85
NSE:SBINLong
by TradingSutra
DCMSHRIRAM | Investment Pick📊 Details DCM Shriram is engaged in the business of manufacturing facilities of Fertiliser, Chloro Vinyl & Cement in Kota (Rajasthan) and of Chlor- Alkali in Bharuch (Gujrat).(Source : Company Web-site ) Disclaimer: This analysis is solely for educational purposes and does not make me a SEBI registered analyst. If you found this analysis helpful, I encourage you to like and share it. Your observations and comments are also welcomed below. Your support, likes, follows, and comments motivate me to consistently share valuable insights with you. 🔍 More Analysis & Trade Setups 🔍 For more technical analysis and trade setups, make sure to follow me on TradingView: www.tradingview.com
NSE:DCMSHRIRAMLong
by Munish_Jain
5
DRREDDY | Investment Pick📊 DETAILS Sector: Pharmaceuticals & Drugs Mkt Cap: 90,938 cr Dr. Reddy's Laboratories Ltd is a leading India-based pharamceutical company which offers a portfolio of products and services, including Active Pharmaceutical Ingredients (APIs), Custom Pharmaceutical services (CPS), generics, biosimilars and differentiated formulations. TTM PE : 17.87 (Low PE) Sector PE : 45.28 Beta : 0.49 📚 INSIGHTS Strong Performer Stock with good financial performance alongside good to expensive valuation, but lacks price momentum as suggested by technical indicators 9.51% away from 52 week high Underperformer - Dr Reddys Laboratories down by -0.74% v/s NIFTY 50 down by -0.29% in last 1 month 📈 FINANCIALS Piotroski Score of 8/9 indicates Strong Financials Disclaimer: This analysis is for educational purposes only, and I'm not a SEBI registered analyst. If you found this analysis helpful, I encourage you to like and share it. Your observations and comments are also welcomed below. Your support, likes, follows, and comments motivate me to consistently share valuable insights with you. 🔍 More Analysis & Trade Setups 🔍 For more technical analysis and trade setups, make sure to follow me on TradingView: www.tradingview.com
NSE:DRREDDYLong
by Munish_Jain
04 Jan ’24 — Banks does the powerlifting for the reversal todayBankNifty Analysis - Stance Neutral ➡️ The powerlifting was done by BankNifty today. The Bajaj Finserv and Finance were on fire today and were propelling FinNifty to a higher variance than BankNifty earlier in the day. However, the close ensured the variance was less than 0.2% 4mts chart link Honestly, we did not see this coming. The setup was perfect for a Bear run, the first hour of trade almost froze us so that we could not build onto expiry positions on Nifty. Since the stop loss was hit, we had to make multiple adjustments to stay in green. Was this a turn of events or a blip is something we are not completely sure of? Ideally, the bear run was just starting, and it would be sad if it ran out like this. 63mts chart link It is prudent to draw a new support line at 47539, the level from where we got the inflection today. To reclaim bullishness, BankNifty has to re-enter the ascending channel. If that happens tomorrow then the level to beat is 48700 which would mean it will take out the ATH. Since we changed the stance to neutral from bearish, a sensible move would be to go sideways without breaking the support of 47539.
NSE:BANKNIFTY
by viswaram
KPIL | Multiyear Breakout📊 DETAILS Sector: Transmission Towers / Equipments Mkt Cap: 11,449 cr Kalpataru Power Transmission Ltd is a global EPC player with diversified interest in power transmission and distribution, oil and gas pipeline, railways and biomass based power generation. TTM PE : 23.95 (High PE) Sector PE : 20.38 Beta : 0.42 📚 INSIGHTS Mid-range performer Stock with medium financial performance with average price momentum and valuation. These stocks may be affordable and are showing some investors interest. 3.84% away from 52 week high Outperformer - Kalpataru Projects International up by 10.19% v/s NIFTY 50 up by 7.57% in last 1 month 📈 FINANCIALS Piotroski Score of 5/9 indicates Average Financials Disclaimer: This analysis is for educational purposes only, and I'm not a SEBI registered analyst. If you found this analysis helpful, I encourage you to like and share it. Your observations and comments are also welcomed below. Your support, likes, follows, and comments motivate me to consistently share valuable insights with you. 🔍 More Analysis & Trade Setups 🔍 For more technical analysis and trade setups, make sure to follow me on TradingView: www.tradingview.com
NSE:KPILLong
by Munish_Jain
NIFTY Intraday Trade Setup For 05 Jan 2023NIFTY Intraday Trade Setup For 05 Jan 2023 Bullish-Above 21690 Invalid-Below 21640 T- 21850 21980 Bearish-Below 21590 Invalid-Above 21640 T- 21465 21325 NIFTY has closed on a bullish note with 0.66% gain today. It opened with a gap up and also sustained the gap up. Buy triggered as per trade setup above 21590 and almost 90 points till 21685. However the momentum was less stronger than BANKNIFTY. Possibility is high that we may hit a fresh ATH above today's high 21690. Important intraday resistance will be 21850-30. For a downside journey and gap filling 21590 is the level to be watched for breakout. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 21690 then we will long for the target of 21830-50 and 21980. For selling we need a 15 Min candle close below 21590. T- 21465 and 21325. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:NIFTY
by Omahto
FinNifty weekly expiry levels for 02/01/24.FinNifty has formed a neutral doji and has shown selling in the last hour of the trading session. On last two weekly expiries it hadn't shown some moment. There are chances of market giving some movement tomorrow. Hourly candle has closed below the 20 ema and there was good selling from the day high. Intraday targets for selling :- 21290-320, 21220 Markets are trading at ATH and higher trades can be initiated only if there is a price action or pattern formation. Wait for the price action near the levels before entering the market.
NSE:CNXFINANCE
by Mambotrade
Banknifty weekly expiry levels for 03/01/24.Banknifty has given a fall in daily charts, closing below the round number figure of 48k. It is sitting around 50% fibonacci levels. Either it will retest 38.2% level or come to test 61.8% levels. Major Support levels :- 47675, 47460 Tomorrow is weekly expiry and today itself has given a 470 points fall. If the market remain bearish the lower levels can be tested. Resistance:- 48070-150, 48460 Market has given a retracement. There can be a chance of market reversing but will take a halt candle before reversing. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
Nifty weekly expiry levels for 04/01/24Nifty is currently sitting on the support of 38.2% fib level and it is a good support for the index. This is the third time the support is being tested. If there is a break down of the levels 50% anf 61.8% levels can be tested on the expiry day. Major support levels :- 21420, 21300 If there is a flat or gap up opening wait for the bearish price action as market is in bullish trend on daily time frame. Bullish trades only above 21585 with a targets of 21690 and 21830. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
EIHOTEL | Multiyear Breakout📊 DETAILS Sector: Hotel, Resort & Restaurants Mkt Cap: 15,205 cr EIH is primarily engaged in owning and managing premium luxury hotels and cruisers under the luxury Oberoi, Trident and Maidens brands. The Company is also engaged in flight catering, airport restaurants, project management and corporate air charters.(Source : 202003 Annual Report Page No:124) TTM PE : 35.86 (Average PE) Sector PE : 55.58 Beta : 0.73 📚 INSIGHTS Strong Performer Stock with consistent financial performance, quality management, and strong technical momentum indicating good investor enthusiasm. Currently valued at Good to expensive valuation 11.75% away from 52 week high Underperformer - EIH up by 5.01% v/s NIFTY 50 up by 8.82% in last 1 month 📈 FINANCIALS Piotroski Score of 9/9 indicates Strong Financials Disclaimer: This analysis is for educational purposes only, and I'm not a SEBI registered analyst. If you found this analysis helpful, I encourage you to like and share it. Your observations and comments are also welcomed below. Your support, likes, follows, and comments motivate me to consistently share valuable insights with you. 🔍 More Analysis & Trade Setups 🔍 For more technical analysis and trade setups, make sure to follow me on TradingView: www.tradingview.com
NSE:EIHOTELLong
by Munish_Jain
Nifty Movement captureHello everyone, Nifty had a great time in 2023. Now is it a time relaxation and allowing the correction which is required for market to breath healthy. There were few gap-ups earlier. Of these, one gap has been filled up and has acted as a good resistance pushing the market in the downward trend towards the next gap-up space created earlier. Currently it has taken a mild support on that space but the downward pressure is not yet released. If the market sustains the zone it might observe a mild consolidation and start a fresh upward trend else the market with continue its journey toward the next gap -up spaced which is yet to be filled. Fingers crossed. Correction is required. Let it settle and than enter the market.
NSE:NIFTY
by Hrimkaar_ShivamJoshi
NIFTY Intraday Trade Setup For 04 Jan 2023NIFTY Intraday Trade Setup For 04 Jan 2023 Bullish-Above 21585 Invalid-Below 21535 T- 21712 21855 Bearish-Below 21500 Invalid-Above 21550 T- 21390 21275 NIFTY has closed on a bearish note with 0.69% cut today. Sell triggered as per trade setup below 21550 and gave a small move till 21500, our targets were yet to be achieved. Bearish move will resume below 21500 tomorrow and best case will be flat opening. Next important support will be 21390 and a reversal may take place from there. Extreme case it may even test 21275 if 21390 will not be held. 21585 is the level for a bullish move. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 21585 then we will long for the target of 21712 and 21855. For selling we need a 15 Min candle close below 21500. T- 21390 and 21275. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:NIFTY
by Omahto
Nifty intraday trading levels for 02/01/24.Nifty for consecutive 3 trading session has been closing in a range. In the closing hour the market has closed below the hourly 20 ema. RSI indicator is also showing some bearish divergence and there are chance of market trying to test the lower support levels. Intraday targets for bearish move :- 21585, 21530 If there is a flat opening and market starts trading below today's low these targets can be achieved. On the higher side, trades should be initiated above the resistance zone of 21820 with a proper Risk Reward ratio. Watch for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
NIFTY Intraday Trade Setup For 03 Jan 2023NIFTY Intraday Trade Setup For 03 Jan 2023 Bullish-Above 21700 Invalid-Below 21650 T- 21855 21980 Bearish-Below 21550 Invalid-Above 21600 T- 21435 21298 NIFTY has closed on a slight bearish note with 0.35% cut today. It will start to make a bearish price structure below 21550 in hourly TF. Below 21550 there can be good selling in the coming days. There has been sharp selling from 21830 till 21555 ,21700 is an intraday level to be watched for a bullish move as that's 50 % if the fall. This will take NIFTY towards ATH. Important intraday resistance is 21855. Major intraday support lies near 21275 or 21300 zone. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 21700 then we will long for the target of 21855 and 21980. For selling we need a 15 Min candle close below 21550. T- 21415 and 21275. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:NIFTY
by Omahto
BRITANNIA | Investment Pick📊 Details Britannia Industries is one of Indias leading food companies with a 100 year legacy and annual revenues in excess of Rs. 9000 Cr. Britannia is among the most trusted food brands, and manufactures Indias favorite brands like Good Day, Tiger, NutriChoice, Milk Bikis and Marie Gold which are household names in India. Britannias product portfolio includes Biscuits, Bread, Cakes, Rusk, and Dairy products including Cheese, Beverages, Milk and Yoghurt. Disclaimer: This analysis is solely for educational purposes and does not make me a SEBI registered analyst. If you found this analysis helpful, I encourage you to like and share it. Your observations and comments are also welcomed below. Your support, likes, follows, and comments motivate me to consistently share valuable insights with you. 🔍 More Analysis & Trade Setups 🔍 For more technical analysis and trade setups, make sure to follow me on TradingView: www.tradingview.com
NSE:BRITANNIALong
by Munish_Jain