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Parallel Channel

ReliancePrice is moving inside a channel formation and now it is testing the upper trend line of the channel. Trend direction deciding zone is 2916 - 2922. In daily chart, price has formed an ascending triangle. Considering these facts, if the price sustains above 2922 and show volume strength, then we can see bullish move. Buy above 2922 with the stop loss of 2904 for the targets 2942, 2964, 2986 and 2998. Sell below 2880 with the stop loss of 2900 for the targets 2860, 2838 and 2218. Hit the like button to Rock !! Show some energy !! 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.
NSE:RELIANCE
by vanathi
RBL bankPrice is moving inside a channel formation and now it is testing the upper trend line of the channel. Bullish if it acts as support and bearish if price rejects it. Trend direction deciding zone 269 - 272. Buy above 269 with the stop loss of 266 for the targets 272, 275, 278 and 281. Sell below 262 with the stop loss of 265 for the targets 259, 256, 253 and 249. Check the live market updates. Hit the like button to Rock !! Show some energy !! 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.
NSE:RBLBANK
by vanathi
FinniftyPrice gave good movement in the morning session and moved with less momentum which resulted a channel pattern in the afternoon session. Note : Price may be volatile because of the upcoming budget on Feb 1. Support zones - 20280 to 20320 and 20480 to 20520. In case of gap up/gap down these levels may act as resistance also. Buy above 20520 with the stop loss of 20480 for the targets 20560, 20600, 20660 and 20720. Sell below 20400 with the stop loss of 20450 for the targets 20360, 20320, 20280 and 20220. These levels are derived based on the assumption that price will decide the trend direction at the zone 20480 to 20520. Check the live market updates. Hit the like button to Rock !! Show some energy !! 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.
NSE:FINNIFTY1!
by vanathi
2
Mighty Nifty - Jan 25Price is moving inside a channel formation. And price had a good recovery after the huge fall. Will it continue tomorrow or move inside the channel? Pattern : Channel. Range : Medium. Trend strength : Normal. Buy Above : 21480. Stop Loss : 21440. Targets : 21520, 21560, 21600 and 21640. These levels are derived based on the assumption that price will take support from 21500 and break the channel and move up. Sell below : 21380. Stop Loss : 21420. Targets : 21340, 21300 and 21260. Expected expiry day range is 21300 to 21700. Check the live market updates. Hit the like button to Rock !! Show some energy !! 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.
NSE:NIFTY
by vanathi
23 Jan ’24 — 5 strong RED candles & a broken support - Nifty50Nifty Analysis - Stance Bearish ⬇️ Recap from yesterday: “Nifty was unable to get into the ascending channel despite results from RELIANCE and major banks. We suspect some weakness is haunting N50. It could completely be news/event-driven or related to the build-up for the budget session. The selling figures from the institutions may be because of this. From a technical analysis perspective, Nifty looks range bound between 21913 and 21491. Falling below 21491 could auto-trigger further shorts and it could even be an avalanche.” 4mts chart Last week you saw a 2% fall in Nifty and today it was just 1.54% but the “real intensity” would be missing if you just looked at the headline numbers. Today Nifty fell a whopping 559pts ~ 2.57% HOD to LOD. The gap-up would have trapped a lot of traders today. Most of them would have come ready to hit the BUY button after the euphoria from “Ayodha Temple Inauguration yesterday”. Or it could just be a profit booking as the event is over, we need to understand the run-up to this level was more than ecstatic. 63mts chart We broke the 21491 support by 12.24. Just look at the strength of the candles today - 5 RED candles followed by a Doji. Our stance changed from neutral to bearish as soon as the support was breached. The bullish channel looks broken and maybe it is time for bears to launch their attack. Ayodhya's Inauguration was on 22/1/24 and Nifty ATH is 22124 - guess both these numbers are here to stay for a while. 21038 is the next support followed by 20774.
NSE:NIFTYShort
by viswaram
Bullish Breakout in SunPharmaAmid today's 333 points Nifty Selloff, the only Nifty stock gave a bullish engulfing breakout is NSE:SUNPHARMA . Multi timeframe analysis gives various aspect to be bullish for at least 1:1 Risk-to-Reward target: In W chart, it's a clear breakout of a rounding bottom patten created over last 8 years (since 2015). During this course it breaks out convincingly the last all-time-high of 1200 around 2015 Q1. In D chart, it is trading in a nice up trend channel. Today's candle near-beakout of the upward channel's upper band. Very high volume in Daily chart And today's candle is an overwhelmingly convincing Bullish engulf patten. Trade: BUY above 1405 for a 1500+ target. Keep a SL of 1310 (closing basis).
NSE:SUNPHARMALong
by pradipandsuvra