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BANDHAN BANK - DOUBLE BOTTOM IN FORMATIONSymbol - BANDHAN BANK CMP - 151.12 Incorporated in 2014, Bandhan Bank is a commercial bank focused on serving underbanked and underpenetrated markets in India. The company has a PAN-India presence and offers a wide range of banking products & services and asset & liability products and services designed for micro banking and general banking. A double bottom pattern is currently in formation, and the price is undergoing a consolidation phase. At this juncture, the key level of focus is 154, which represents the breakout zone for this consolidation (Buy Trigger). If the price successfully sustains above this level, a potential upward move towards 168 can be anticipated. Therefore, I intend to initiate long position in Futures at the buy trigger level. Additionally, I plan to add more position around 150 level and will hold long position with a stop loss at 144. The target for this trade is 168, which implies an expected upside of approximately 8.40% from the entry point. Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
NSE:BANDHANBNKLong
by akshit_official
What Next In EURUSD Key Levels: 1. Resistance Levels: o The red supply zone above (around 1.04500) represents a key resistance area. Price has rejected this level in the past, showing that sellers are active there. o Another small resistance zone is identified near 1.04390 from previous candles. 2. Support Levels: o The light blue demand zone below (1.04126) acts as a significant support area. Buyers stepped in here previously, causing a rally. o A second support level is near 1.04100, aligning with the current price's point of interest (POI). ________________________________________ Market Behavior: 1. Range-Bound Price Action: o The note on the chart mentions that the price was in a range yesterday. This is evident as price oscillates between the resistance zone (1.04500) and the demand/support zone (1.04126). o Breakout confirmation (upward or downward) is crucial for clarity on the next trend. 2. Current Price: o The price is currently testing the demand zone (POI Level). If it holds, we may see a bounce back toward resistance at 1.04500. ________________________________________ 💡 Technical Indicators: 1. Exponential Moving Average (EMA): o The price is hovering near the blue EMA line, which is likely a 50-period EMA. This suggests a mixed market sentiment where buyers and sellers are evenly matched. o A strong price reaction above or below the EMA can indicate the next potential trend. ________________________________________ 📊 Supply and Demand Zones: 1. Supply Zone: o The red supply zone at the top indicates strong selling pressure. Price will need strong momentum to break through it. 2. Demand Zone: o The light blue demand zone has seen active buyers before. It's a critical level for bulls to maintain to avoid further downside. ________________________________________ 📊 Trading Plan: 1. For Buyers: o Wait for a bullish reaction from the demand zone (1.04126) and a possible breakout above the range (1.04500) to target higher levels. o A bounce off the EMA would also signal bullish momentum. 2. For Sellers: o Look for a rejection at the resistance zone (1.04500) or a confirmed break below the demand zone at 1.04126 for shorting opportunities. ________________________________________ ⚠️Recommendation: • Wait for Breakout: o Avoid trading in the current range until a breakout occurs, as it is unclear if the price will move higher or lower. o Monitor for volume and candlestick patterns at key levels (rejections or breakouts). This chart currently exhibits consolidation, requiring a patient approach for clarity on the next directional move. 👉 Always follow TP/SL to protect your capital and maximize profits! Stay tuned for updates once the confirmations are in place! Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me ! 📢Best Regards , Silver Wolf Traders Community Disclaimer: This is for educational purposes only. Always trade responsibly and manage your risk effectively
by silverwolftraders029
JSW Energy : Entering a Quarterly Demand Area#jswenergy - Q3 result was NOT great, and pressure may remain on solar energy related stock (oversupply) -Technically, it is entering a demand area in Quarterly/Monthly chart and can consolidate now in this range of 350 - 450, while on upside the level of 630 - 670 will be strong resistance. Look for reversa l/ breakout in weekly charts to confirmation of base formation. - The recent correction in jsw energy share price removed froth in the stock (now ~ 40P/E ratio), may offer better opportunity to trade on long side on major support of 420-425 level in weekly 200D-EMA #learn_at_stoxsense #Learntradingwithsudhir #StockMarketIndia #Optiontrading #learntrading
NSE:JSWENERGYLong
by stoxsense
#Nifty directions and levels for January 29th:Good Morning, friends! 🌞 Here are the market directions and levels for January 29th: Market Overview: There have been no significant changes in the global markets, which are still maintaining a bullish sentiment based on the Dow Jones. However, our local market is showing a moderately bearish sentiment. Today, the market may open neutral to slightly gap-up, as Nifty indicates a positive move of 40 points. In the previous session, both Nifty and Bank Nifty had a solid rally, but by the end of the day, they fell slightly. Structurally, the market is still in bearish territory. So, today's session may see some consolidation within the previous day's range. Let's look at the chart. Both Nifty and Bank Nifty share the same structural sentiment. Nifty Current View: Even if the market starts with a gap-up, structurally, it may not sustain. So, if the market declines initially, we can expect a correction towards the 22862–22827 level, which is a major support zone. If the market finds support here, it is likely to bounce back to its opening levels. > On the other hand, if the market breaks this zone or consolidates around it, the correction will likely continue towards 22776, a minor pullback zone. Alternate View: If the gap-up sustains, 23089 will act as strong resistance. If the market gets rejected at this level, we can expect a range-bound session. However, if it consolidates or breaks above this level, the rally will likely continue towards 23185 and the 78% retracement level.
NSE:NIFTY
by Manickamtraders
4
#Banknifty directions and levels for January 29th:Bank Nifty Current View: The current structure in Bank Nifty is similar to Nifty. If the market declines initially, we can expect a correction towards 48614, which is a major support zone. If the market finds support here, it may bounce back to its opening level with a bullish bias. > On the other hand, if the market breaks this zone or consolidates around it, the correction will likely continue towards 48465–48252. Alternate View: If the gap-up sustains, 49142 will act as strong resistance. If the market gets rejected at this level, we can expect a range-bound session. However, if it consolidates or breaks above this level, the rally will likely continue towards 49264, a minor rejection zone.
NSE:BANKNIFTY
by Manickamtraders
NIFTY Levels for January 29, 2025NIFTY Levels for Today Here are the today's NIFTY Levels for intraday. Based on market movement, these levels can act as support, resistance or both. Please consider these levels only if there is movement in index and 15m candle sustains at the given levels. The SL (Stop loss) for each BUY trade should be the previous RED candle below the given level. Similarly, the SL (Stop loss) for each SELL trade should be the previous GREEN candle above the given level. Note: This idea and these levels are only for learning and educational purpose. Your likes /boosts gives us motivation for continued leaning and sharing ideas.
NSE:NIFTY
by RainingMoneywithTech