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TATA POWER ON 30 MINS CHARTTata power is trading in downtrend. After a good double bottom pattern, TATA POWER did try to move upward but if we look at the retracement levels using Fibonacci, we can observe that stock has not yet broken the golden level of 61.8%. There also a possible HEAD & SHOULDER reversal pattern but we believe that can be a fake pattern formation because as stock is approaching towards FIBONACCI 61.8% level, buyers are getting weak. As this is 30 mins chart we believe TATA POWER can end up in a range bound market for upcoming week. Trade safe
NSE:TATAPOWER
by Trademint08
1
BANKNIFTY on 15 MIN CHARTLONG - Mostly all of the index, stocks are trading near the Gap up area that was occurred with Budget day news. We think it’s very very crucial support because it has been tested multiple times on smaller as well as bigger timeframe. Very crucial situation but there’s few points that indicates that we can see reversal from the current price. 1) MACD DIVERGENCE 2) STRONG SUPPORT LEVEL with FIBONACCI and GAP UP( STRONG DEMAND ZONE) 3) GLOBAL INDICES AND SGX NIFTY UP ⬆️ SHORT- As we said earlier BNF ais at very crucial level and at very dicy situation. Move on any side would definitely give good movement. Once the support area is broken we can definitely see BNF goin atleast 800-100 points down. We tried to look for more evidence for short opportunities but we couldn’t find more. Plan your trade according. Trade safe
NSE:BANKNIFTY
by Trademint08
5
PAGE INDUSTRIES ON 15 MIN CHARTThis analysis is on request of one of our followers. Page industries on 15 min has formed a Descending triangle. Now the most confusing part of this price action pattern is that, it’s neither a reversal pattern or continuation pattern but in fact it’s called NEUTAL PATTERN, which means that this pattern can give a breakout or a breakdown or in simple words in can break upward approach downward & traders have to be ready to trade to the respective trend. The target is usually similar to the middle range price area of triangle. Page has already given a breakout and achieved the given target set by the chart pattern. We suggest to hold on for some days & let the big players come in and take Page out of range market( haven’t entered yet, but it might end up in range).
NSE:PAGEIND
by Trademint08
3
Kotak Bank - Head and Shoulder Breakout Kotak Mahindra Bank making a Head & Shoulder Pattern, closed on a very critical support level i.e. 1939. Can give a good breakout if Bank Nifty Breaks tomorrow and the market sentiments act negative. Have given both the levels for buy and sell. If it takes support from the line of support tomorrow also for 15-20 mins go long. If the support level is broken and starts acting as resistance go short. Please let me know your suggestions as well. Thanks & Regards Hritik Kaushik
NSE:KOTAKBANKShort
by HritikKaushikk
2
BPCL Bullish for swing or short term Trade.NSE:BPCL BPCL on daily chart looks bullish for swing or short term trade. On daily chart of BPCL after price rejection from 436 on 9th of February 2021 it did not received proper follow through for selling and went sideways for few days. On 17th February 2021 though it made Gap Down opening which at that time seems like good opportunity for seller but if you observe the daily candle of that day its seems sellers were weak and they didn’t managed to keep the prices lower and hence day closes near the high which indicates that there is very less supply in this stock at least for now. Result of which we are seeing today is stock prices are moving higher and day’s closes likely to be near its high which is going to be good opportunity for swing or short term trader. But one can prefer to wait for a breakout to the resistance level of 436. SL for this trade is going to be at 375 while targets being of 480 and 520.
NSE:BPCLLong
by PriceVolumeRider