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Pivot Points

Bank Nifty Support and Resistance Levels (17/01/2024)Bank Nifty Support and Resistance Levels (17/01/2024) #### Support Levels: 1. **Support Level 1:** 48,000 2. **Support Level 2:** 47,800 - If the market breaks below 48,000, it could signal potential downside movement. #### Upside Resistance Levels: 1. **Resistance Level 1:** 48,213 - Waiting for sustained movement above 48,200 could signal a potential upside move. 2. **Resistance Level 2:** 48,300 3. **Resistance Level 3:** 48,400 - These levels represent potential barriers for upward movement. ### Technical Analysis Insights: - **Support Zones:** 48,000 and 47,800 are crucial areas where buying interest might emerge, potentially leading to a reversal or temporary halt in the downward movement. - **Resistance Zones:** 48,213, 48,300, and 48,400 are anticipated to be key levels where selling pressure might intensify, limiting immediate upward movements. - **Breakdown Caution:** Trading below 48,000 might signify increased bearish sentiment and could lead to further downside movement. - **Upside Breakout Confirmation:** Waiting for sustained movement above 48,200 could indicate a potential move towards higher resistance levels, but confirmation is essential.
NSE:BANKNIFTYLong
by santubittu
NIFTY: 29DEC : Last Trading Day of 2023What is expected in last trading day of the year 2023: Based on weekly pivots,as WR1 21636 was taken out on Wednesday 27 DEC, the next upside move expect is 21922. As weekly camrilla 4th layer pivot WH4 21688 was taken out on expiry day with gap up ,then next move upside expected is WH5 21977. Today on expiry day got multiple resistance @ 21779. 21779 was calculated by dividing WR1 21636 and WR2 21923 by two. i.e (21636+21923)/2=21779 For the bullish VIEW: If tommorow open flat above 21779 and able to break 21815 and sustain above it, then a bullish rally may be seen,either to 21923 or 21977
NSE:NIFTY
by Apu_3007
Bank Nifty Support and Resistance Levels (12/01/2024)### Bank Nifty Support and Resistance Levels (12/01/2024): #### Support Levels: 1. **Support Level 1:** 47,238 2. **Support Level 2:** 47,000 - If the market breaks below 47,000, there could be additional support around 46,950. #### Upside Resistance Levels: 1. **Resistance Level 1:** 47,400 - This level might act as a resistance point, especially if the market opens with a gap-down. 2. **Resistance Level 2:** 47,600 - If the market opens with a gap-up and sustains above 47,400, 47,600 could become the next resistance level. 3. **Resistance Level 3:** 47,800 - Another significant resistance level, especially in case of a gap-up open scenario. ### Technical Analysis Insights: - **Support Zones:** 47,238 and 47,000 are critical areas where buying interest might emerge, potentially leading to a reversal or temporary halt in the downward movement. - **Resistance Zones (Gap-up Open):** 47,400, 47,600, and 47,800 are anticipated to be key levels where selling pressure might intensify, limiting immediate upward movements in case of a gap-up opening scenario. - **Breakout Scenario:** A sustained breakout above 47,800 could indicate a potential upside move or a shift in sentiment towards more significant buying. - **Caution on Breakdown:** Breaking below 47,000 might signify increased bearish sentiment and potentially lead to further downside movement.
NSE:BANKNIFTYLong
by santubittu
Polycab - Valuations at its peakPolycab stellar performer among wires & cables. Polycab's guidance value is to achieve 20K Cr revenue(top-line) sales by 2026. And it appears they'll achieve ahead of timeline. Company expects volume growth to continue in the second half as well. As of 2023, 14K Cr sales. Jefferies adjusted its price target for Polycab India from INR4,835 to INR6,220 and maintained its "buy" rating Been riding this since 2021. Earnings are growing good every quarter. Revenue(8 to 16K Cr), Net profit(766 to 1622), EPS(50 to 100) All these roughly doubled in 3Y since 2020. Whereas Price grown 7 times. 740 to around 5K Further in terms of valuations PE (Price to Earnings ratio) Last 5Y avg is 31.426 Current 46.40 PB (Price to Book ratio) Last 5Y avg is 6.332 Current 11.45 PS (Price to Sales ratio) Last 5Y avg is 2.8. Current 4.7 I'll patiently wait for price near 50% Fib level which is 3350. 2600 is fair value. Pivot R2 is at 3533. Historical fall is 35% from ATH. So 35% from ATH is 3570. Previous resistance breakout is at 3618 which could act as support. So +/- 5 to 8% above 50% fib level. I'll start watching from 3620 and accumulate gradually over fall & reversal. Disclaimer: Entered and averaged up Since Mid 2021 till Mar 2023. Holding.
NSE:POLYCABShort
by naraykln
DOLLAR BO [DAILY]DOLLAR giving a BO on daily timeframe, Just look at the volumes these last 10 days, clear indication of something going on here. Market conditions not the best for me to enter here but a good candidate to keep in watchlist to buy at the BO support level if interested. Other names in this same theme which are interesting are PAGEIND. RUPA and LUXIND are not so good for now. Will update further in comments if this gives a follow through post some consolidation.
NSE:DOLLAR
by HawkishDove
NIFTY FOR 04 JAN#Execution only after break and close above or below from resistance or support 15-minute candle. #Stop Loss above or below from resistance or support 15-minute candle. (S/R Levels Will be Flipped in The Situation of Gap up OR Gap down Open, Support Will Turn in Resistance and Resistance Will Turn in Support) (This Analysis and idea is based only on support and resistance mechanism, Buy after resistance break and close above sell after support break and close below, Closing below resistance after trade will be stop loss likewise closing above support will be a stop loss after trade) NOTE- Only for Education Purpose. This is not any kind of Trading advice I am giving by this analysis. Please Give A Like If You Like
NSE:NIFTY
by MISSION_TRADING
8
BANKNIFTY FOR 04 JAN#Execution only after break and close above or below from resistance or support 15-minute candle. #Stop Loss above or below from resistance or support 15-minute candle. (S/R Levels Will be Flipped in The Situation of Gap up OR Gap down Open, Support Will Turn in Resistance and Resistance Will Turn in Support) (This Analysis and idea is based only on support and resistance mechanism, Buy after resistance break and close above sell after support break and close below, Closing below resistance after trade will be stop loss likewise closing above support will be a stop loss after trade) NOTE- Only for Education Purpose. This is not any kind of Trading advice I am giving by this analysis. Please Give A Like If You Like
NSE:BANKNIFTY
by MISSION_TRADING
VST INDUSTRIES - RADHAKRISHNA DAMANI COMPANY UP FOR 5000 LEVELS VST INDUSTRIES, the oldest tobacco company earlier held by the NIZAMS of hyderabad. the stock is trading at 4000. it has risen from monthly support levels of 3400-3500 to 4060 with increased volume of more than 1 lakh. it has breached the highs and closing of Decemeber 2020 , which is 3 years earlier. now it should be bought at any declines for 5000 levels , which will only take it to the earlier highs, from there new story will start. also, it is being held by the ace investor mr. RadhaKrishna Damani of DMART thanks .
NSE:VSTINDLong
by jai9195