For last 2 days, Bank Nifty is in narrow range of 31000-31362. Price action shows sellers are in control as BN closed below yesterday's low. So view is mild bearish to neutral until 30925/31362 is broken.
Plans for 11th Feb -
PriceAction Analysis
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Long Side
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1. 31120 will act as immediate resistance and price behavior is to...
Nifty remained in uptrend - So until the CZ + Yellow TL breaks avoid selling in it
Since budget is coming this week - one may expect more gap ups- downs so please stay cautious
and avoid aggressive positions if you do not understand markets well
12100 zone is acting as IMP DEMAND ZONE
Pre-Open Stock Chart-2 #RELIANCE
Currently it is trading at very crucial zone as per the Orderflow after it has given slower downtrend on yesterday.
If it is able to sustain below CZ Zone, it can easily go till 1515-1510 zone quickly
Buy Setup can be only initiated after break of trendline and CZ with WRC candle & Volume
#LearnWithKRMG
Pre-Open Stock Chart-1 #AUROPHARMA
Yesterday after giving fast UP-Trend, it has been settled in the zone 500-503 for whole day. Multiple times it tried to break the range but fails every time.
If it is able to sustain above CZ Zone, it can easily go till 505-508 zone.
Sell Setup can be only initiated after break of trendline and CZ
#LearnWithKRMG
ZEEL has broken the upward-trendline and is ready for a downward move. Short at market price for a target of 270 and a stoploss of 285. For a confirmed downtrend, short at 278 when it retests the level for resistance. Views are welcome.
The bank index witnessed pullback and buying the in the last two sessions. The prices are now just kissing a resistance level. 31800 levels may pose as a strong resistance for bank nifty, above which 32170, 32620 & 33500 seems possible. However any failure to hold 30900 levels will push banknifty down to 30000 zones below which banknifty may find support at 29500....
Yesterday it remains strictly rangebound in 1st half then given upside breakout.
If it is able to sustain above CZ Zone, it can easily go till 1251-1256 zone quickly
Sell Setup can be only initiated after break of trendline and CZ with WRC candle & Volume
#LearnWithKRMG
31k is a psychological barrier - MArket today changed the short term trend and closed near PDH zone of 31k - 31100
Now remain on Buy on DIPS mode until the CZ and Yellow TL is not broken
Above 31150 zone - aggressive buyers can come
Market went into uptrend and made a Higher Low pattern post break of PDL (Previous Day Low) zone
Avoid shorting until the CZ + Yellow UP TrendLine breaks with conviction and see price action near SUPPLY ZONE marked
Budget is approaching in a week - So markets will remain volatile
Pre-Open Stock Chart-2 #RELIANCE
Yesterday it has opened Gap-Up and then given Down-Trend. It tries to break and give close above 1537 but failed.
If it is able to sustain below CZ Zone, it can easily go till 1525-1520 zone quickly
Buy Setup can be only initiated after break of trendline and CZ with WRC candle & Volume
#LearnWithKRMG
Pre-Open Stock Chart-1 #HDFCBANK
Yesterday it has opened Gap-Up and then given Down-Trend & currently it is at very important point as per
the Orderflow.
If it is able to sustain below CZ Zone, it can easily go till 1230-1225 zone quickly
Buy Setup can be only initiated after break of trendline and CZ with WRC candle & Volume
#LearnWithKRMG
