NIFTYIT/NIFTY at the Top of RectangleNIFTYIT/NIFTY ratio chart has been trading in a range for the last 9 months since Sep'20, as shown in the rectangle pattern. The chart is breaching the top trend line of the pattern with momentum.
RSI, the momentum indicator, never reached oversold conditions at the two times the ratio touched the bottom of the rectangle, indicating strength. The RSI is also well above 50 and in bullish zone.
Based on this ratio chart, we can expect NIFTY IT to outshine the NIFTY index in the coming weeks if a breakout happens successfully. We will be monitoring the price action and keep this segment updated as and when we see a successful breakout or a fake out/breakdown.
Niftyit
Nifty ITMy Views:
Index made a new high whereas RSI didn't which indicates negative divergence.
It will have to sustain around 29100 and 29280 (0.5 and 0.382 level on fib retracement) before it continues the uptrend
Please do your own analysis before making any decisions and also let me know if I missed something.
Let's learn together.
📊 Infosys At Resistance 🎯NSE:INFY
whole IT sector at resistance and that i said few days back as well that IT sector Heading towards resistance.
as per this pattern Potential Reversal Zone is
PRZ 1 :- 1574.10
PRZ 2 :- 1584.90
Stop Loss :- 1635.10
so ultimately from PRZ 1 to Stop loss this whole Zone can act as resistance and to trade on this pattern you should have knowledge of reversal trading as Harmonic is all about ultimate reversal trading strategy.
advantage here in this chart :- reversal candle at PRZ so we might get reversal trade in upcoming session
disadvantage in this chart :- as per this Harmonic pattern stop loss is quite big so trade only on reversal.
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******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.
What Next ?can there be fall from all time high price level ?
yeah possible
RSI - drawn resistance trend line to be watched
consistent volume has given descent support so far
so keep a watch on volume candles
exit short on crossing and closing above
rising Resistance trend line
where to book short ?
or
where to enter for fresh long?
levels for above questions -
541, 530, 515
disclaimer - for study purpose only
HCL TECH | ANALYSISLooks good for a quick option.
Take trade as per the values given in Fibonacci. always trail the stop loss. do your own analysis before taking trade
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Check these successful trades & approach on Britannia , Mothersonsumi , DLF , Biocon , Daawat , Infosys , HBL power , HDFC life , Hind ZINC given below
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HCL TECH - DARVAS BOX BREAKOUT SOONAs you see the price it is struck inside the rectangular darvax box pattern as same as Nifty IT index.
Nifty IT index has made breakout the resistance and hit ATH, the same way we are expecting the HCL also break the upper resistance and enter into uncharted territory soon
Tech Mahindra, 26 May 2021 - Intraday SetupTech Mahindra can be used for a good short set position depending upon the price action. The closing price today (25 May 2021) was at a very interesting point. At 15 min time frame, it closed below 50 EMA but took support from the trend line. Short intraday position can be taken if a 15 min candle closes below the trendline with a target till 200 EMA and stop loss just above the 50 EMA.
Note: Please do not follow my idea blindly, analyze yourself as well. I just share my idea so that people can build upon the same. The idea I share is open to healthy criticism and feedback :)
COFORGE - SYMMETRICAL TRIANGLE (FLAG & POLE)A Symmetrical triangle is a clear cut indication of consolidation followed by a breakout.
Note:
Avoid the stock if a big gap up or gap down is seen
Enter after the breakout happens and not before it
Do not chase the market, i.e., do not get involved in late entries
Only enter with strict stop-loss and target
This is not a recommendation and is for educational purposes only.
always follow risk-reward and quantity management for the 100% of the times
The above mentioned idea may not work, so beware of the risk you are taking
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Happy Trading!!
Accelya Solutions India ltd Short Term Oppertunitynote guys this is not a buy recommendation
sell side below 800 level
💢forming descending triangle
💢interesting buy from promoters in the last year
💢expecting an upside breakout
about the company
✨Accelya Kale Solutions Is a Software solutions provider to the global Airline and Travel Industry.✨
thank you
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🎯 #Hcltech #niftyit #nifty #nifty50 #banknifty #niftybank NSE:HCLTECH
As one can see stock at harmonic PRZ one can long from this level with the stop loss as mentioned on chart. please do your own analysis as well before trading or investing.
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******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.
#coforge #niftyit #nifty #bankniftyNSE:COFORGE
if you know reversal trading then only trade on this chart , as one can see there is mentioned reversal zone and stop loss.
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.