Swing Buy Opportunity in Ambuja CementsRefer the chart for Entry,Target and SL.
NOTE: This trade is only for Equity Swing buy and not to be considered for options trading.
Please do follow Position Sizing and Risk Reward Ratio while planning any trades.
Note: This information is for education purpose only and please do your own research and consult your financial advisor prior to taking any action.
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WESTLIFE - 2 Possible Entries with Inverse Head and Shoulder🙌 Welcome to another educational analysis, where we'll discuss the recent breakout of WESTLIFE from an Inverse Head and Shoulder pattern. Please note that this analysis is for educational purposes only, and I am not a SEBI registered analyst.
📊 Key Details 🚀
WESTLIFE broke out of the Inverse Head and Shoulder pattern on June 1st with significant volume, reaching an all-time high level. Let's discuss the two possible entries:
First entry: Above 852, which is the breakout candle's high.
Second entry: At the retest of breakout at neckline .
For both entries, ensure the Stop Loss (SL) is placed below the neckline around 800 to manage risk effectively. The first entry is more suitable for aggressive traders, while the second entry provides a safer option for both aggressive and conservative traders.
💡 Technical Terms Explained 💡
Before we proceed, let's clarify some technical terms used in this analysis:
💡 Inverse Head and Shoulder pattern: A reversal chart pattern characterized by three troughs, where the middle trough (the head) is lower than the other two (the shoulders). The neckline connects the highest points of the two shoulders.
💡 Breakout: When the price of a security moves above a certain level of resistance, indicating a potential upward trend continuation or reversal.
💡 Neckline: The resistance line connecting the highest points of the two shoulders in an Inverse Head and Shoulder pattern. It acts as a crucial level to monitor for potential breakouts or breakdowns.
Remember: Always conduct your own analysis and risk assessment before making any trading decisions.
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01 Sep ’23 Post Mortem on Nifty - Neutral b/w 19563 & 19788 Nifty Analysis
Recap from yesterday: “For Monday I wish to continue my bearish stance with the first target being 19563 and second 19484. If the momentum fades and we are unable to pick a direction in the opening 2 hours — I wish to change my stance to neutral to a wait and watch mode.”
Firstly my bearish call did not work out today - that disappointed me a bit.Since the momentum has faded - it also makes sense to move to a neutral stance today. Opening was inline and the first 2 hrs of price move were in alignment to the action from friday (notice the continuous blue line drawn).
What didnt make sense was the 133pts ~ 0.68% rally from the lows to 19734 levels by 13.00. Another 60 odd points - we would have gone into the bullish zone. One major news that broke today was NSE’s plan to extend the trading hours to 6 to 9pm as a separate session - source. Looking at the time slot, I guess its to include the office goers into this betting arena.
We are already overdone with daily expiries, adding extra trading hours to bring in more participation may not work in the best interest of everyone except maybe the exchanges. Professional traders will always prefer reform stability over flexibility. If we push it too hard - these people may abandon ship and move to US markets.
NSE has already said 9 out of 10 people lose money in derivatives. 90% of full time traders are not able to go profitable - how likely is it that part time traders who jump in between 6 to 9pm expect to make money?
Trading itself is a stressful activity, its because we handle the frustration of going wrong along with losing money. 09.00 to 15.30 is usually a period where we remain absolutely focussed, distraction free & dedicated. People like me even eat lunch at the trading desk. Just imagine if we have to dedicate 18.00 to 21.00 also with a similar intensity - wont the work life balance be affected?
On the 1hr TF, Nifty will have to break down below 19563 or break out above 19788 for a trend determination. I wish to change my stance to neutral as long as we remain between these 2 orange lines. Personally I prefer if Nifty breaks down and retests the August lows by this Thursday.
Technical Analysis of Bank Nifty for Tomorrow Technical Analysis of Bank Nifty for Tomorrow (26 September 2023)
Support:
44500 (Big Support)
44700/44600
Resistance:
45000 (Big Resistance)
Overall Analysis:
The Bank Nifty index is currently in a consolidation phase, with a strong support zone at 44500 and a strong resistance zone at 45000. If the index breaks below 44500, it could fall further to 44400 or even lower. On the other hand, if the index breaks above 45000, it could rally to 45900 or even higher.
However, it is important to note that the 45000 strike price has a huge concentration of call writers. This suggests that there is strong resistance at this level. Therefore, traders should be cautious before taking any bullish bets on Bank Nifty.
Trading Strategy:
Bullish Traders: If the Bank Nifty index breaks above 45000, bullish traders can enter long positions with a stop loss below 44900.
Bearish Traders: If the Bank Nifty index breaks below 44500, bearish traders can enter short positions with a stop loss above 44700.
Overall, the Bank Nifty index is likely to remain in a consolidation phase tomorrow. Traders should be cautious before taking any bets on the index.
Disclaimer: This is just a technical analysis and should not be considered as a trading recommendation. Please consult your financial advisor before making any trading decisions.
Technical Analysis for Nifty50 for Tomorrow**Technical Analysis for Nifty50 for Tomorrow - September 25, 2023**
**Overall Outlook**
Nifty50 is expected to open negative tomorrow, following the negative global markets. However, if the market opens above 19,700, then the 19,600 level will act as a support. On the upside, the resistance levels are 19,800 and 19,900-20,000.
**Support and Resistance Levels**
**Supports:**
* 19,600 (strong support as per OI data)
**Resistances:**
* 19,800
* 19,900-20,000
**Trading Strategy**
* **Buy:** If the market trades above 19,800 and closes with a 15-minute green candle, then a buying side movement can be expected.
* **Sell:** Wait for a breakdown of 19,600 before selling.
**Note:** Please follow price action and wait for opportunities to trade.
**Additional Comments**
* The global markets are negative due to concerns about rising interest rates and a potential recession.
* Nifty50 is a broad market index, and it is sensitive to global market trends.
* If the global markets continue to remain negative, it could weigh on Nifty50 as well.
* However, if the market opens above 19,700 tomorrow and closes with a 15-minute green candle, then it could signal a bullish reversal.
* Traders should carefully monitor the price action and wait for opportunities to trade.
**Disclaimer:** This is just a technical analysis and is not a recommendation to buy or sell any security. Please do your own research before making any investment decisions.
NIFTY INTRADAY LEVELS FOR 18/09/2023 (HAPPY GANESH CHATHURTHI)" HAPPY GANESH CHATHURTHI "
" MAY THIS GANESH CHATHURTHI REMOVE ALL YOUR HURDLES BRING YOU PROFITS "
BUY - 20200
SL - 20170
TARGETS - 20280,20380,20470
SELL - 20140
SL - 20170
TARGETS - 20110,20040,19950
NO TRADE ZONE - 20140 to 20200
Previous Day High - 20222
Previous Day Low - 20134
I am sharing NIFTY levels this levels acts as important support & resistance for intraday. if you want to trade with this levels wait for 15 min Candle closing above that levels. You can trade with breakout and reversal both.
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Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day.
Please NOTE: this levels are for intraday trading only.
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Bank of India: Target 10% with 1:1 Risk-RewardAs we can see at the chart, the price has made a significant upward movement, breaking out from a pattern called a 'symmetric triangle.' Currently, the price is trading above a specific line when we observe it on a daily basis. There are two ways we can consider entering a trade:
1.If the price comes back to the breakout level (resistance) and stays above it, we can consider entering the trade.
2. if the price doesn't retest the resistance, but instead shows a strong increase in trading volume with a noticeable large candle, that could also be a good signal to enter the trade.
We can aim for at least a 10% gain from this level while maintaining a reasonable 1:1 risk-reward ratio
It was just for demonstration purpose, Do not take it as reccomdation.
Vinati Orgncs: Gearing Up for big move.Vinati Organics has been consolidating for 2 years in a unique supply-demand conversion zone.
In the first year, it traded in a rectangle pattern, making higher highs. Later, it underwent a trend reversal, forming a triangular pattern with lower highs. Throughout this period, it held one support level, as its visible from chart.
Today, it made a good move and retested its resistance. If it breaks its trend line with volume tomorrow, it could be an excellent opportunity to add some positions.
The chemical sector has been going through a correction phase, but now it seems promising to invest in.
We can take a long position in this stock with a potential target of at least 20%. To manage risk, we'll set a reasonable stop loss of 15%
Buy-1960
Target- 2350
StopLoss- 1650
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Indraprastha Gas: Breakdown or potential rise ?Hello guys I am back with another Interesting Analysis.
This time we will discuss about Indraprastha Gas Ltd. in a very easy to understand and end of the section I will reveal my personal opinion on this stock.
Current Chart Pattern:
Currently, the stock is in an uptrend, following an ascending parallel channel pattern. When we examine the daily timeframe, it's evident that the stock has been consolidating within this pattern for the past 1.5 years.
Previous Price movement:
Looking at the weekly timeframe, the stock was previously moving in a rising wedge pattern. However, in 2021, it experienced a breakdown and underwent a correction of 50%.
Current price movement.
>>Since that decline, it has initiated an uptrend movement while forming the current channel pattern.
>>Recently, the stock experienced a 15% decline again from its peak and moved outside of its parallel channel pattern.
My Commentary on "will it fall or Rise".
So, When we look at how this stock behaved in the past, we see that after big drops, it often bounced back strongly. This time, the stock has fallen below its usual support area, which seems like a normal pullback. Interestingly, it found support at Fibonacci S3 (420 level) and started rising again.
Now, Looking at its Financial data everything looks great, The company is currently undergoing its highest-ever sales and profits.
To cut the Long story short, I'm still positive about this stock, considering this level as good opportunity. But when it comes to entry it is better to wait for a strong confirmation. Ideal entry would be when it breaks the 450 level with comparatively big green engulfing candle, we can take a small stop loss at 415 level to capture atleast 25%.
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Note: This is for informational purposes only. Do your own research before investing.
BEL - A Breakout Opportunity NSE:BEL
Bharat Electronics Limited is engaged in design, manufacture and supply of electronics products/systems for defense as well as for nondefense markets. The Company's principal products include weapon systems, radar and fire control systems etc.
TTM EPS: 10.72
TTM PE: 21.86
Sector PE: 30.84
Book Value Per Share: 45.45
P/B: 5.16
Face Value: 1
Mkt Cap (Rs. Cr.): 57,101
Dividend Yield: 1.71
Some Positives:
Rising Net Cash Flow and Cash from Operating activity
Company with high TTM EPS Growth
New 52 Week High
Growth in Quarterly Net Profit with increasing Profit Margin (YoY)
Company with No Debt
Increasing Revenue every quarter for the past 2 quarters
Strong cash generating ability from core business - Improving Cash Flow from operation for last 2 years
Company able to generate Net Cash - Improving Net Cash Flow for last 2 years
Book Value per share Improving for last 2 years
Company with Zero Promoter Pledge
FII / FPI or Institutions increasing their shareholding
Strong Momentum: Price above short, medium and long term moving averages
Some Negatives:
Companies with growing costs YoY for long term projects
MFs decreased their shareholding last quarter
Inefficient use of assets to generate profits - ROA declining in the last 2 years
Decline in Net Profit with falling Profit Margin (QoQ)
NOT A RECOMMENDATION. JUST FOR EDUCATION PURPOSE. Thanks
TEXRAIL - Doubler in making? NSE:TEXRAIL
Texmaco Rail & Engineering Limited is engaged in the business of manufacturing of rolling stock, hydro mechanical equipment, steel castings, agricultural and other equipment.
TTM EPS: 1.10
TTM PE: 51.27
Sector PE: 27.99
Book Value Per Share: 40.50
P/B: 1.40
Face Value: 1
Mkt Cap (Rs. Cr.): 1,815
Dividend Yield: 0.18
Some Positives:
High Piotroski Score - Companies with strong financials
Strong Annual EPS Growth
New 52 Week High
Bullish Engulfing Pattern (Bullish Reversal)
Increasing Revenue every quarter for the past 2 quarters
Strong cash generating ability from core business - Improving Cash Flow from operation for last 2 years
Stock gained more than 20% in one month
Strong Momentum: Price above short, medium and long term moving averages
Some Negatives:
Red Flag: High Interest Payments Compared to Earnings
Decline in Net Profit with falling Profit Margin (QoQ)
Decline in Quarterly Net Profit with falling Profit Margin (YoY)
Declining profits every quarter for the past 3 quarters
Declining Net Cash Flow : Companies not able to generate net cash
Recent Results: Declining Operating Profit Margin and Net Profits (YoY)
My Opinion: I think the stock can hit 77 from here in next few days. In next 1-2 years it can give good returns.
NOT A RECOMMENDATION. JUST FOR EDUCATION.