Head and shoulder pattern breakout in ULTRACEMCO.ULTRACEMCO
Key highlights: 💡⚡
📈 On 1D Time Frame Stock Showing Breakout of Head and shoulder Pattern .
📈 Strong Bullish Candlestick Form on this timeframe.
📈It can give movement upto Breakout target of 8710+.
📈 Can Go Long in this stock by placing stop loss below 6650-.
📈 Breakout this can give risk:reward upto 1:5+.
Optionsstrategies
uptrend parallel channel pattern in ABFRL.TATACHEM
Key highlights: 💡⚡
📈 On 2Hr Time Frame Stock Showing Reversal of uptrend parallel channel Pattern .
📈It can give movement upto the Reversal target of 330+.
📈There have chances of breakdown of supportlevel too.
📈 After breakdown of support level this stock can gives strong downside rally upto below 296-.
📈 Can Go Short in this stock by placing stop loss above 360 or last swing High.
#banknifty weekly TF analysis:-#banknifty weekly TF analysis:-
Let me post what exactly I am seeing on Weekly Chart:- We have come out of triple combo complex correction of the 4th wave and currently, the 5th wave is running, the bare min target of this wave is 47,570 and the invalidation level is 32,290.
We hope to see these levels in the next 6 months to a year.
Regards,
SG
Triangle pattern breakdown in MINDTREE.In 30Min timeframe MINDTREE stock has given breakdown to triangle pattern with a breakdown entry below 3415- there are chances of going up to their Short target of 3250+.
Banknifty Future Intraday & Positional viewIf banknifty fut face resistance at 39350 then one can take short banknifty. Target-39275,39160, 39130. This zone is very good support zone. If 39130 is break in the downside then free fall is expected till 38850. Banknifty should not break 38200. Banknifty is trading in very narrow range. but Pralay is coming. It should made new all time high..
Banknifty Future Intraday & Positional viewIf price of banknifty fut rejects from PDH-39260, We can take short trade. Target-39200, 39125, 39040
39040 is support. If banknifty takes support here we can buy above 39125 for the target of 39250. If Banknifty break 39250 with volume next target is 39399.
If it breaks 39040 in downside then free fall can be expected. My target is 37900 that means more than 1000 points fall.
Banknifty Future Intraday & Positional viewBanknifty may open near 39450-500. If banknifty directly touch 39771 then avoid buying in between these. If it retraced back towards shadded zone then one can take entry. As banknifty is bullish so we can take buy trade at proper area.
Banknifty Future buy above 39352, Target 39440,39541, 39771. 39772 is a danger zone. Banknifty can reverse from here. so we have to book profit at 39770. If sustain above 39772, we may take re-entry again for the target of 40290
Nifty: Wheels on the Nifty go up and down On September 28, it was suggested that Nifty is near 240 day EMA and that 17166-17320 zone might act as short term resistance and short term support being around 16300 odd levels.
Well, Nifty has made a high of 17187 thereafter and and now is back at it's 240 day EMA.
For the October month, Important Support and resistance levels going forward
Gap support 1 - 16653-16746
Gap support 2 - 16360-16490
- 50 day and 20 day EMA around 17270 and 17340 coinciding with Gap resistance zone at 17166-17320
The Short strangle strategy suggested on 28 September, which had a Net receivables of 181 points at that time; is currently valued at 125. That gives a profit of 56 points per strategy lot. We continue to hold and as long as Nifty is between 16300-17320 odd points, we would be passive in our trading approach.
Important levels to watch out for till 6th October 2022
16980 / 17062 / 17123 on the upside
16855 / 17733 / 17608 on the downside
Take care & safe trading...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
BankNifty Daily Levels Update For Option Day Trading Major Support Zones For BankNifty
First Support Zone For BankNifty – 38495 – 38535
Second Support Zone For BankNifty – 38190 – 38224
Third Support Zone For Bank Nifty – 37827 – 37851
Major Resistance Zones For BankNifty
First Resistance Zone For BankNifty – ( 38965 – 38940 )
Second Resistance Zone For BankNifty – ( 39289 – 39255 )
Third Resistance Zone For BankNifty – ( 39714 – 39676 )
#BANKNIFTY Short Term Positional View #banknifty 20 DMA placed at 40,183 and -2 Standard Diviation is placed at 38,440, so below 40,182, 38,440 becomes a logical target.
Laxman Rekha for next week is 39,550 (If the price crosses above, don't be short)
The market is expected to take support from 38,541 to 38,790 levels and bounce, 38K doesn't look like to get violated.
This is a knee-jerk before the final upmove near Diwali to offboard all the longs.
Banknifty Future Intraday & Positional viewwe will see out performance in Nifty as compared to BankNIfty.
Banknifty Future today may open near 41400. If BNF sustained below 41410, 41262 is first target, 40990 is second target.
If 40990 breaks in second half, then next target is 40836. but if it is tested 40836 sentiments may go in the negative zone. But bulls are in control now, so, from the 40990 level it may again bounce back towards 41420 & 41650. All level is mentioned here in future.
PCR is 1.07 (PCR below 0.78 and above 1.3 lead to trending moves, and in between leads to range-bound markets.)
Banknifty Intraday Trade for 20-09-22Last Sunday, I mentioned in live class that Banknifty should take support in my mark area and there after it will be bullish. Banknifty reacts same as I said. Yesterday, I have provided one bull call spread. Please look at the above image in which I shared this trade. As predicted in sunday class, Banknifty took support at support 1 and then boom and then it took resistance at my hidden unique shaded part. Today Banknifty will be gap up. As I have suggested to take positional trade, students should book profit of minimum Rs 1000/ lot.
Banknifty may open near 41262 and may move up towards 41388. If Bank nifty sustains at 41388 then it may go towards 41550.
If Bank nifty unable to hold above 41250 it may slip towards 41000 and 40890. It may free fall Below 40890
NIFTYKeep an eye on triangle marked with yellow lines for either side breakout or breakdown.
Balid for intraday only for 7th sept 2022.
Condition is market must open flat then only we can get good trade in this.
RR will be favourable.
Price ranges are mentioned for Target. 150 pts minimum we can get. Thank you
Happy Trading 😇