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BANK NIFTY - TIME TO SELL & RUN AWAY ?Symbol - BANKNIFTY CMP - 51720 BANKNIFTY is following a rising channel & headed towards its higher end. Currently It is trading 51600 - 51750 & trying to break it on upside. According to my analysis, BANKNIFTY will face strong resistance around round level 51500 - 52000 which is also upper end of the rising channel. In case it breaks it on upside, A breakout fail scenario is highly likely. I'm expecting Nifty Bank to show a reversal from these levels & It may witness a strong profit booking. Hence I am creating huge short positions in Bank Nifty July Futures at CMP 51720 I will add more position at 52000, if comes & will hold with SL of 52200 Targets I'm looking for on downside will be 49260 - 48000 & In case If it breaks this rising channel on downside, We may see huge fall till 45500 - 45600 which is the ultimate target if any major correction happens. RR is very favorable here. That's why taking more position than usual. 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:BANKNIFTYShort
by akshit_official
Asian Paints: Turnaround PotentialAsian Paints has been following its Time cycles on weekly chart exceptionally well. As u can see everytime it enters the time cycle zone (red lines) it forms a low and rallies. Price and Time confluence - is the most important way to trade markets. Majority of us are focused only on prices but not on time which is essential for trader to trade profitably in markets and with consistency. Expecting asian paints to reverse on upside as time is right and prices should follow. Price action above 3030 will confirm that this stock has bottomed out and ready to reverse on upside.
NSE:ASIANPAINTLong
by Chinmayonniftyy
Trade Idea on SRF with Bird Eye View and Notes Following is the bird-eye view of SRF point-wise: 1 and 2) I see two patterns here on a Weekly time frame; 1 is a parallel channel, and 2 is a symmetrical triangle ( Note: Both can be bullish or bearish patterns depending on their previous more significant wave, here it was bullish ) ( Note 2: Currently sitting at the support of bottom parallel channel making a W pattern and sitting at bottom support of symmetrical pattern too ) 3) It's a Fibonacci extension, made for the consolidation zone - High and Low, For Futures higher Targets. 4) Steep CT: It's a steep counter-trendline breakout, giving us the probability of future upside potential 5 is the probable weekly time frame SL and 6a is probable Weekly time frame basis and pattern top basis Target 1, 6b and 6c are fibo ext target as taken from point 3
NSE:SRFLong
by Averoy_Apoorv_Analysis
Trade Idea on Ambuja Cement with Price action notes In the above chart, the price action goes like this. 1) 50-60% Fibo retracement zone - Stock after a substantial fall getting lots and lots of demand from this zone 2) Its fibo retracement - Used from a swing low to swing High 3) Its called a counter trendline - stock currently getting demand on the extended CT, as a result of breakout and bigger time frame retest 4) It's called a trendline, made from a swing low point to another swing low, extended forward, giving a demand zone 5) Its called a Confluence zone, Candlestick pattern is bullish pressure, lower wick multiple rejection on W time frame and cluster of many other demand areas 6) 3 Yellow lines are potential Target zones from CMP.
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NSE:AMBUJACEMLong
by Averoy_Apoorv_Analysis
6
Mahindra & Mahindra - breakout in weekly timeframe As you can see here Mahindra and Mahindra chart, what does this chart show? This chart shows us that it has given a breakout of a beautiful pattern or of a range of 175 days. As you can see this stock first breaks the all-time high of 978 and then move as fast as a rocket and for the last 175 days it has been in a tight range and making a beautiful pattern i.e flag and pole pattern. Last week this stock has given a breakout of an all-time high and of range and this week it has been consolidating making an inside bar or you can say opposite color candle. so if this stock breaks the high of the red candle i.e level of 1392 you can enter a trade and the target will be big, as big as the size of a pole, and our stop loss will be below the green color candle or the level of 1300. I'm not sebi registered so this is only for educational purpose, do your analysis first.
NSE:M_MLong
by Garvit_Narang
BHARAT FORGE - TREND CONTINUATION PATTERN GUIDENSE:BHARATFORG What is trend continuation ? Trend continuation means when we are in uptrend and witness a healthy correction most likely sideways movement in a channel and it breaks the correction sideways zone with big momentum candles then it might be signaling a strong new up trend starting. #so lets see how we can play with trend continuation on a live setup in Bharat forge. Whats happening in Bharat forge? *Used Bar chart on a weekly Timeframe. There are confluence of factors that are signaling this setup. Lets identify them one by one 1. Prior trend :- The most important thing one should confirm is the existance of previous trend, cause if there is no identifiable previous trend then how can the price form a trend continuation pattern. As in bharat forge there is a good bullish prior up trend. * on chart marked as Major up trend. 2.Correction:- The Stock should give a opposite move in the trend with low volumes and the range of movement should be narrow. the tighter the range the better it is. This correction should not break any major lows in the previous up trend. As in Bharat forge the corection is in form of channel and its on low volumes. 3.Confirmation signals:- some basic confirmation signals are (a.) Strong breakouts on small time-frame (b.) Volume picking up. (c.) Big momentum candels. As in Bharat forge formed a strong resistance at 850, the price is unable to break this level from last 1 year in 3 attempts. on 31-10-2022 it formed a Ranging candle and created a rally base rally power pattern and move above 850 can give a strong break out for a positional target of 1000+ One can hold with a stop loss of 789 and do trail the stoploss with favorable movement. Hope you like this Idea. please like and comment. Thanks for reading. Keep learning, Happy trading.
NSE:BHARATFORGLong
by SANJAYPATIDAR_