TATA STEEL - When Waves are Messi don't try to be a GOAT. Tata Steel is in this Upward sloping Channel since June 2022 all the rise looks messy means all pullbacks have over lapped with previous rise so instead of forcing Elliott Wave we will try to study it with simple technical approach.
We have drawn a trendline connecting lows which has held 4 times & which was also 50 Week Moving Average so buyers are happy to go long at 50 WMA & this trend line support.
Supply comes from parallel channel of this trendline so looking at his chart risk reward looks attractive for buyers as of now.
Weekly close below 147 will be sign of bulls losing control as of now longs looks good for short term to medium term view.
I find people marking everything as impulsive or corrective but when you cannot spot a clear wave structure better to avoid the stock if its low volume or KISS (Keep It Simple Stupid) strategy works best.
NSE-NIFTY
Nifty Buying at Demand areaAggressive entry model because we will enter without confirmation.
pros: Small Stop loss and High reward
Cons: Does not need to respect the demand area and it may break it
Managing the trade:
If the trade goes in our way
*Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES
***If you like my analysis let me know by giving boost or a comment.
I will be updating.
POLYMED - Trading opportunity is discovered - Swing TradePOLYMED is trading at weekly & Daily Demand zone, This demand zone is also visible in lower Timeframes.
We can see that the selling volume is decreasing, so we can set our stop loss below the support zone and plan our trade accordingly.
I can conclude that this is a trade with Low Risk & High Reward.
If this analysis is useful to you then please like it & follow me for such analysis and and let me know what you think about this analysis in the comment box below.
Big Boy Reliance : +15-24% Upside Potential25 Nov 2022 Reliance
Stock is hovering in the zone of 2500 +/-10% for the past 1 year, now showing some strength.
In Play : HH-HL
Summary
- Stock bounced from the VAH zone
- few weeks of low volume PB
- TL likely BO
- ATH is at 2856
Conclusion
- CMP 2618
- Test position can be initiated on BO of TL(as of now BO may fail : Low Volume @ TL)
- Rest Qty can be planned on RT of TL
- Higher targets could be around
• Short Term – 2757/2856/2928
• Long Term – 3038/3258(ATH @ 2856) need to see price action in the ATH zone to confirm higher targets
Wish You Happy & safe trading
Views are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk.
"Always Respect Risk"
Happy Trading
Jai Hind Jai Bharat
India NSE Sector PerformanceThe below indicator shows the performance of NSE Sectors and top performing stocks in those sectors
NSE Sector Performance
It will help identify the stock sectors and individual stocks in those strong sectors.
Also, the distance from 250d high/low is shown to focus on high momentum stocks
Selling opportunity in Niftylets see if we can secure this trade with at least 1:1 RR. SL of 50 points
Candle close above 17840 will change every thing Until then its a good risk reward.
I am posting this for Live testing purpose.
Managing the trade:
If the trade goes in our way
*Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES
***If you like my analysis let me know by giving boost or a comment.
I will be updating
NIFTY n BANKNIFTY DashboardI created two indicators for NIFTY n BANKNIFTY which provide good insight into how these indices might perform.
The following metrics are included
- Combined volume of Underlying stock
- NSE & BSE Volumes of Top 7 stocks
- Futures Volume / OI
- Change in OI
- Stock to Futures Volume
- Chg in OI to Futures Volume
- OI Buildup
In one dashboard, all critical import metrics are shown for the top 2 indices in NSE.
Here are the free indicators
NIFTY
BANKNIFTY
Selling opportunity in Nifty or Not!-->For the first time since 13/10/2022 Nifty has closed below its previous days closing "PDC" yesterday.
-->Nifty has extended quite high without a correction and I'm expecting a small correction before its BIG BULL RUN.
--> Why not BUYING today?
-->Yeah we can also buy with todays low as SL and enter when market gives retracement towards days low and again shows bullish momentum
--> PLAN 1
-->Continuing with shorting plan one can Short around 0.618 level at any strong bearish candle with 0.78 levels as SL or a big SL (18192 like that)
Short Entry:18095
SL:18155
--> PLAN 2
-->Wait till market comes till 0.78 levels and then short market with approx 60 points SL
-->This is high probable setup because chances of achieving 1:1 and securing the trade is high.
-->Even if price goes into stop loss zone we will have a good chance to exit if Price move around that level for some time ,coming to our entry area.
Short ENTRY : 18132
SL :18192 levels
I am posting this for Live testing purpose.
Managing the trade:
If the trade goes in our way
*Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES
***If you think video analysis will be good for better understanding & If you want me to do video analysis pls give a boost. Your boost and follow is my MOTIVATION.
I will be updating
Should we buy or sell Nifty Today?Nifty is in narrow range since opening.
15 min candle breakout should give good target either side.
For Upside 1;1 should be 1st Target and then trailing.
For downside also same thing but can focus on gap filling also.
BREAKOUT PLAN
The breakout candle should close above the range (at least 30 percent of body)
Then one can enter at candle close with SL below bottom range level. (should be ~50 points)
OR
After Breakout one can wait for some retracement and enter the same with same SL (can get small SL)
BREAKDOWN PLAN
The breakdown candle should close BELOW the range (at least 30 percent of body)
Then one can enter at candle close with SL above range level. (should be ~50 points)
OR
After Breakdown one can wait for some retracement and enter the same with same SL (can get small SL)
I am posting this for Live testing purpose.
Managing the trade:
If the trade goes in our way
*Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES
***If you like my analysis let me know by giving boost or a comment.
I will be updating
Selling opportunity in Nifty Expiry dayA 15min candle close above 17560 will indicate a bullish scenario.
Otherwise We can take the risk with a small SL
All the details are mentioned on the chart only
lets see if we can secure this trade with at least 1:1 RR.
I am posting this for Live testing purpose.
Managing the trade:
If the trade goes in our way
*Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES
***If you like my analysis let me know by giving boost or a comment.
I will be updating
Intraday Short opportunity in NIFTY All the details are mentioned on the chart only
Worth a shot with low SL
lets see if we can secure this trade with at least 1:1 RR
Managing the trade:
If the trade goes in our way
*Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES
***If you like my analysis let me know by giving boost or a comment.
I will be updating