Book Profits - Candidate for ShortsDisclaimer: This Analysis is not to be taken for trading or investment decisions.
Stock has rallied for last year without any break, it has touched previous life time high levels of year 2019.
It has touched the upper band of Regression trend when plotted from beginning
Parallel Channel
MTARTech-A beautiful channel consolidation!MTARTech is one of the leading stock from defence sector. However, stock is underperforming and is currently in a channel consolidation.
Recent news of arms exports to Russia has triggered a rally in defence stocks like Datapatterns, BEL, BDL, etc.
Mtar is bouncing from lower end of channel and we can expect big rally in this stock too. A good stock for investment purposes as well.
Disclaimer:This is not a recommendation and this is my personal analysis and opinion about stock.
NIFTY50 Update - Index Analysis - 6th May #indicesNIFTY50 Update (1W TF) - 6th May, 2024
- Trading inside the channel as of now
- The Support Zones are marked out
- A weekly candle will give us clarity on which side the Nifty may head to
- This should help choosing our Swing Trades as well
If you are in FOMO:
- Then ensure to choose stocks that are at Weekly support levels only
- Do not jump into falling knives which are away from their support levels
* Disclaimer
Mighty Nifty - May 13Price did not have trending movement on Friday. And still price is weak. So what will be the next move? We have two patterns.
Pattern : Triangle, channel.
Range : Medium.
Trend strength : Normal.
Buy Above : 22080.
Stop Loss : 22040.
Targets : 22120, 22160, 22200 and 22240.
Sell below : 21980.
Stop Loss : 22020.
Targets : 21940, 21920 and 21880.
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Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
You are responsible for whatever you do.
Banknifty weekly analysis for 13/05/2024.Banknifty has been trading in a rising parallel channel which is a bearish pattern. The support trend line has been tested 4 times and it is testing it again, closing around it.
Even the weekly 20 Ema is around the closing of the candle. If there is a break down on the weekly candle after 2-3 days of consolidation or halt, there is a high chances of bearish momentum is the markets.
Major support/target levels:-46600, 45800
Let the market decide the trend and trade accordingly.
For last 8 trading session, there is a red candle on the daily charts. A retracement or consolidation is required before any further fall in the market.
Wait for the price action near the levels before entering the market.
Axis bankPrice is moving inside a channel and now it is in between the upper and lower trend line. 1120 is the trend deciding level.
Buy above 1126 with the stop loss of 1120 for the targets 1132, 1140 and 1148.
Sell below 1115 with the stop loss of 1121 for the targets 1109, 1102 and 1092.
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Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
You are responsible for whatever you do.
Bank Nifty - May 6Price is bearish as long as it is inside the channel. And the movement will also be a zig zag move.
Pattern : Channel.
Range : Medium.
Trend strength : Normal.
Buy Above : 49040.
Stop Loss : 48960.
Targets : 49120, 49200, 49280 and 49360.
Sell below : 48920.
Stop Loss : 49000.
Targets : 48840 ,48760, 48700 and 48620.
Check the live market updates.
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Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
You are responsible for whatever you do.
INDUSIND BANK MOVING IN A PARALLEL CHANNEL.Indusind Bank has been moving in a rising parallel channel from 23 January 24. The difference between the lower trend line of the channel and the upper trend line of the channel is Rs 122 to Rs 130.
On April 19 it bounced from the lower trend line. If you feel like taking a chance you can buy and look for an upside of Rs 90 atleast.