Understanding trends through support and resistances.
Nifty has given a bearish engulfing candle and the trend seems to be bearish. There is a moving averages cross over in hourly time frame and the market sold off in the second half. The market may remain bearish tomorrow. Support:- 16320, 16230 Resistance:- 16400, 16400 Wait for the price action near the levels before trading the markets.
BANKNIFTY Intraday Trade Setup For 8 Jun 2022 Buy-Above 35050 Sl- 34950 T-35185 35300 Sell-Below 34830 Sl-34930 T-34700 34500 BANKNIFTY has formed a small hammer like candle in daily TF. Last day we planned to sell below 35240 which was not triggered due to the gap down opening. However it triggered our 2nd sell position (PDL)- 35070 and hit our target of 34850...
NSE:BANKNIFTY1! 📊 Each levels Act as support and resistance 📈📉. One can trade on 3min, 5min and 15 min as per their trade set up. For reference, one can check our old published ideas. If any candle taking support from any level then try to identify that is that reversal candle at support or what if that is reversal candle then go long above that reversal candle...
NSE:BANKNIFTY Trade Setup for 08-06-2022 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up...
Understanding trends through supports and resistances.
Nifty after a gap down travelled even below to the level on 16350, filling the gap and retracing back to the support of 16400. Market has closed below its 20 DMA and on and hourly time frame there is bearish moving averages cross over. Price is just traveling around the moving averages. Support:- 16400, 16300 Resistance:- 16480, 16640 Market can remain in red...
NSE:BANKNIFTY1! 📊 Each levels Act as support and resistance 📈📉. One can trade on 3min, 5min and 15 min as per their trade set up. For reference, one can check our old published ideas. If any candle taking support from any level then try to identify that is that reversal candle at support or what if that is reversal candle then go long above that reversal candle...
NSE:BANKNIFTY Trade Setup for 07-06-2022 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up...
Understanding trends through supports and resistances.
Nifty has clearly taken support from its 20 DMA and is trading between its moving averages. On hourly candle, it has closed below the 20 ema and was bearish in the second half of the trading session. Support :- 16500, 16480, 16400 Resistance :- 16640, 16700 Market looks choppy and a clear trend is still not defined. Wait for the price action near the levels...
BANKNIFTY Intraday Trade Setup For 7 Jun 2022 Buy-Above 35425 Sl-35300 T-35600 35750 Sell-Below 35240 Sl-35350 T- 35100 34950 BANKNIFTY has closed almost flat and formed an doji candle in daily TF. Next move will be triggered above and below of the high and low of the doji candle. We planned to sell below 35200 on the last day. It gave more than 100 points move...
After a sideways market what next ? As per me sooner we will heading toward 16366 &16204 (Gap down pending). Note: We will not be taking any Long position until 17000 taken out, mean while we can only go with small quantity. Support 1:16460 Support 2: 16360 Res 1: 16650 Res 2: 16741 Condition applied: Condition 1: If we see any gap down opening near by 16460...
Stay safe and trade safe. Note: The above is strictly my view and not a trade recommendation. Consult your financial advisor before making any trade.
Nifty has given a spinning top candle on a weekly close and is trading below its 20 ema. On hourly candle, it has closed below the 20 ema and was bearish in the second half of the trading session. It lost around 135 point in a single hourly candle and closed near the day's low. Nifty still not closing above its 200 DMA and has fallen after taking a resistance...
NSE:BANKNIFTY Trade Setup for 06-06-2022 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up...
NSE:NIFTY1! 📊 Each levels Act as support and resistance 📈📉. One can trade on 3min, 5min and 15 min as per their trade set up. For reference, one can check our old published ideas. If any candle taking support from any level then try to identify that is that reversal candle at support or what if that is reversal candle then go long above that reversal candle and...
NSE:BANKNIFTY1! 📊 Each levels Act as support and resistance 📈📉. One can trade on 3min, 5min and 15 min as per their trade set up. For reference, one can check our old published ideas. If any candle taking support from any level then try to identify that is that reversal candle at support or what if that is reversal candle then go long above that reversal candle...