a breakout swing tradegood volume at good levels, and multiple indicator confirmation for a short term hold
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NIFTY50 - 27th Dec '24Anticipating a recovery from tomorrow to form a VCP and there by then fill the gap on the upside.
Nifty Support&Resistance Levels for 24th Dec TuesdayNifty ranged between 200 points giving both sides chance to make money out of it if properly executed on support and resistances.
Key levels for tomorrow Tuesday are:-
Resistance is 23850 area if sustains above long for the targets of 23900,23950,24000,24075,24100.
Support is 23650 area if sustains below short for the targets of 23600,23550,23500,23425,23400.
If stays in today range mark high and low of prior day upon rejection on either side of extremes take entries accordingly play sideways.
Educational purpose only do your own research before taking entries.
XRP longEither we bounce here or we bounce from the range lows (marked as RL). Will divide the position size in two for two entries. If we bounce here and stay strong above mid range then will add second entry there.
NIFTY50 - TRIANGLE PATTERN - 30MIN CHART.Today it was Nifty's weekly expiry and as usual it didn't do anything, just spent time and ate premiums.
Now Nifty has made a Triangle pattern, it is facing continous Resistance at the upper Trendline and taking support at lower trendline.
A strong Hammer candle formation. Now there are two strong reason of an upside move, first the Hammer candle+Triangle pattern and PRO is buying from last 3-4 days and has increased its position.
But we should work in probabilities, in case it breaks down and breaks 23500 support then we may see 23000.
Price action analysis.
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PCR in trading The Put-Call Ratio (PCR) is a popular technical indicator used by investors to assess market sentiment. It is calculated by dividing the volume or open interest of put options by call options over a specific time period. A higher PCR suggests bearish sentiment, while a lower PCR indicates bullish sentiment.
However, no PCR can be considered ideal, but usually, a PCR below 0.7 is typically viewed as a strong bullish sentiment while a PCR more than 1 is usually considered as a strong bearish sentiment.
SBI life longSbi life insurance is on daily & weekly support ,RSI divergence looking good.I can be buy for long from here .Do your analysis first.
Technical trading Technical analysis is a trading strategy used by investors to identify new investment possibilities. To anticipate future price movements of stocks or other assets, for example, past price and volume data is studied and shown on graphic charts, where trends, patterns, and technical indicators can be identified.
Technical trading is a broader style that is not necessarily limited to trading. Generally, a technician uses historical patterns of trading data to predict what might happen to stocks in the future. This is the same method practiced by economists and meteorologists: looking to the past for insight into the future.
Option and Database trading Traders use an options chain to choose the specific option contracts that best align with their trading strategy. They can select options with the desired strike prices and expiration dates based on their market outlook. Options chains are crucial for assessing and managing risk.
Rupeezy, Upstox, and Zerodha offer the best option trading apps in the market because their innovative trading platform allows traders to seamlessly analyze and trade in the market.
Nifty Intraday Analysis for 26th December 2024NSE:NIFTY
Index closed near 23730 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
24000 Strike – 119.13 Lakh 23800 Strike – 77.03 Lakh
24900 Strike – 56.41 Lakh
Put Writing
23500 Strike – 92.01 Lakh
23700 Strike – 66.12 Lakh
23800 Strike – 60.35 Lakh
Index has resistance near 23800 - 23850 range and if index crosses and sustains above this level then may reach near 24000 - 24100 range.
Index has immediate support near 23550 – 23500 range and if this support is broken then index may tank near 23350 – 23300 range.
MACD In Trading The Moving Average Convergence/Divergence indicator is a momentum oscillator primarily used to trade trends. Although it is an oscillator, it is not typically used to identify over bought or oversold conditions. It appears on the chart as two lines which oscillate without boundaries.
Traders often use MACD with longer-term moving averages like the 50-day or 200-day moving average. If the price is above these averages and MACD signals a buy, it reinforces the bullish trend. On the flip side, if the price is below the moving averages and MACD signals a sell, it indicates a strong bearish trend.
Banknifty Intraday Analysis for 26th December 2024NSE:BANKNIFTY
Index closed near 51235 level and Maximum Call and Put Writing near CMP as below in January Month contract:
Call Writing
52000 Strike – 6.81 Lakh
51500 Strike – 5.83 Lakh
52500 Strike – 4.08 Lakh
Put Writing
51500 Strike – 6.66 Lakh
51000 Strike – 5.77 Lakh
52000 Strike – 4.90 Lakh
Index has resistance near 51900 – 52000 range and if index crosses and sustains above this level then may reach near 523500 – 52500 range.
Index has immediate support near 50700 - 50600 range and if this support is broken then index may tank near 50000 - 49900 range.
Finnifty Intraday Analysis for 26th December 2024NSE:CNXFINANCE
Index closed near 23740 level and Maximum Call and Put Writing near CMP as below in December Month contract:
Call Writing
24000 Strike – 3.14 Lakh
23800 Strike – 2.67 Lakh
23900 Strike – 2.22 Lakh
Put Writing
23800 Strike – 2.36 Lakh
24000 Strike – 2.29 Lakh
23500 Strike – 2.28 Lakh
Index has resistance near 23900 - 23950 range and if index crosses and sustains above this level then may reach near 24150 - 24200 range.
Index has immediate support near 23550 – 23500 range and if this support is broken then index may tank near 23200 – 23150 range.
How to draw support and resistance The most reliable source for identifying support and resistance levels is historical prices, making them invaluable to traders. The key is to familiarise yourself with past patterns – sometimes from very recent activity – so you can recognise them if they appear again.
Simply mark visible highs and lows on your chart; the higher highs and lower highs will serve as resistance levels, whereas the lower lows and higher lows will serve as support levels. It is always recommended that these lines are marked on longer timeframes to have reliable support and resistance levels.
Midnifty Intraday Analysis for 26th December 2024NSE:NIFTY_MID_SELECT
Index closed near 12755 level and Maximum Call and Put Writing near CMP as below in December Month contract:
Call Writing
12800 Strike – 12.51 Lakh
13000 Strike – 9.48 Lakh
12900 Strike – 8.03 Lakh
Put Writing
12800 Strike – 6.65 Lakh
12700 Strike – 4.97 Lakh
12600 Strike – 3.79 Lakh
Index has immediate resistance near 12850 – 12900 range and if index crosses and sustains above this level then may reach 13000 – 13100 range.
Index has immediate support near 12600 – 12550 range and if this support is broken then index may tank near 12400 – 12350 range.
RSI and Database in Trading The relative strength index (RSI) is a momentum indicator used in technical analysis. RSI measures the speed and magnitude of a security's recent price changes to detect overbought or oversold conditions in the price of that security.
When the RSI crosses above 70, it suggests that the asset may be overbought. This means that a price correction or pullback could be imminent. ...
BANK NIFTY - RANGEBOUD - 30MIN CHARTBN is moving in a Range. Nowadays Nifty doesn't give much move during the expiry day and BN was also under pressure due to that.
PRO is buying from last 3-4 days and has increased its position, so there is strong probability of market giving a good upside move on 27dec.
If you like my analysis, please follow me as a token of appreciation :)
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For learning and educational purposes only, not a trading advice. Pls consult your financial advisor before investing.
NIFTY50 - H&S & TRIANGLE PATTERN - 30MIN CHART.NIFTY50 - H&S & TRIANGLE PATTERN - 30MIN CHART.
First 15min candle will decide the direction. 23750 is a make or break level.
If it follows the H&S pattern then there is strong probability of going up. There is a Hammer candle at 2nd shoulder.
If you like my analysis, please follow me as a token of appreciation :)
in.tradingview.com/u/SatpalS/
For learning and educational purposes only, not a trading advice. Pls consult your financial advisor before investing.
Learn Option in trading Options are a type of contract that gives the buyer the right to buy or sell a security at a specified price at some point in the future. An option holder is essentially paying a premium for the right to buy or sell the security within a certain time frame.
Or as it's conveniently named, 1 Long put closer to the money, 1 short put further from the money, and 2 more short puts even further from the money. Preferably, as far away as possible while maintaining a net credit for the trade.
Blue Chip Pharma: Fibo, Bullish Pattern and a good story...Pharma sector is one of the resilient sector in current market condition.
1. After fall for almost couple of months, its showing reversal signs. Made a double bottom at 38% of fib level.
2. After double bottom formation, consolidating sideways, even when Nifty was falling. This shows interest of big players and there accumulation.
3. Today, it has broken out of this sideways zone with higher volume and has confirmed the breakout.
4. Entry: 1841; SL: 1782 (3%); Target:1960 and then trailing profit with 9 EMA on day TF.
Disclaimer: I have open cash position at this counter.
XAUUSDAU is the code for Gold on the Periodic table of elements, and the price above is Gold quoted in US Dollars, which is the common yardstick for measuring the ...
RSI in trading The relative strength index (RSI) is a momentum indicator used in technical analysis. RSI measures the speed and magnitude of a security's recent price changes to detect overbought or oversold conditions in the price of that security.
The RSI is helpful for market participants in identifying trends. In a strong uptrend, the RSI typically stays between 40 and 90, with the 40-50 range acting as support. In a strong downtrend, the RSI ranges from 10 to 60, with the 50-60 range serving as resistance.
