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Nifty Spot Actionable Idea - September 5, 2023Current Price (CMP): 19534 Resistance: 19572 Support: 19499 Upside Targets: 19599 and 19623 (after a break of Resistance) Downside Targets: 19463 and 19433 (after a break of Support) Execution: Only execute trades after a clear break and close above or below the Resistance or Support levels on a 15-minute candlestick chart. Stop Loss: Place stop-loss orders above or below the Resistance or Support levels on a 15-minute candlestick chart. ---------------------------------------------------------------------------------------------------------------------- Overview: Welcome to this Nifty Spot actionable idea for September 2, 2023. In this analysis, we will explore the current price, key resistance, and support levels, along with potential upside and downside targets. Please note that this analysis is for educational purposes only and should not be considered financial advice. Always do your research and consult with a financial advisor before making any trading decisions. Current Price (CMP): As of the specified date, the Nifty Spot is trading at 19534. Resistance: The immediate resistance level for Nifty Spot is identified at 19572. Support: On the downside, there is solid support at 19499. Upside Targets: In the event of a breakout above the resistance level of 19572, we can set our sights on two potential upside targets: 19599 and 19623. Downside Targets: Conversely, if the support level at 19499 is breached, we should be prepared for two downside targets: 13463 and 19433. Execution Strategy: It's crucial to exercise caution and execute trades only when there is a clear breakout and close above or below the resistance or support levels, as indicated on a 15-minute candlestick chart. This approach helps confirm the strength of the market move and reduces the risk of false breakouts. Stop Loss Strategy: To manage risk effectively, it's advisable to place stop-loss orders above or below the respective resistance or support levels on a 15-minute candlestick chart. This way, you can limit potential losses in case the market moves against your trade. Disclaimer: Please remember that this trading idea is provided solely for educational purposes and is not intended as financial advice. Trading carries risks, and it's important to conduct your own research and consult with a financial advisor before making any trading decisions. Always trade responsibly and consider your risk tolerance.
NSE:NIFTY
by SarthakPatwari
Can it Persistently Rise? Market Cap 38,892 Cr. Stock P/E 41 Industry PE 33 Piotroski score 8 ROCE 31 % ROE 26 % Debt to equity 0.17 OPM 18 % EBIDT growth 3Years 38 % Promoter holding 31 % Persistent Systems provides software engineering and strategy services to help companies implement and modernize their businesses. It has its own software and frameworks with pre-built integration and acceleration. BFSI accounts for the majority of revenues at 31.6%, followed by Healthcare & Life Sciences (20.8%). Tech & emerging verticals account for the remaining 47.6% of revenues. The company has a global presence with presence in 17 countries including India, Australia, Canada, Germany, Japan etc. The North American region contributes 78.8% of the total revenue. Contribution from India region was 10.6% and Europe was 8.7% while the Rest of the World contributed 1.9% of total revenue.
NSE:PERSISTENTLong
by CannySunny
RSI Divergence(s) :: A Case Study 📈📉Hey Pivster's ★ Found out one interesting query in a public forum and thought to provide the explanation through a chart so that it can be documented for reference in future. Chart is actually self-explanatory as marked and constructed accordingly 🫶 ◉ Query: "During uptrends prices make lower highs whereas RSI makes lower lows..this is called positive reversal". This is a statement made by Bharat Jhunjhunwala in one of his lectures....i don't get the lower highs in prices...can anyone explain? ☞ My answer would be - ➣ He is basically taking about a RSI positive divergence scenario where the “Price” has higher probability for making a reversal. ➣ This scenario is ideal as 'RSI' is mostly taking closing price into consideration. SO, when the price starts to close above the previous red candles it shifts the RSI curve towards an uptrend and a reversal can be confirmed once the 'Price' breaks the previous Lower High (LH) which will eventually be in correspondence to the 'RSI' making a Higher Low (HL) after a visible "Positive Divergence" to the 'Price' chart. ➣ Here, the structure for the 'Price' is now expected to reverse and follow the structure of an "Uptrend" now while the "RSI" continues making Higher Lows (HL) as the closing price is higher to that of the previous candle in an 'Uptrend'. Explained this whole scenario in the chart of NSE:MARUTI which showed a fresh and live demonstration of this discussed scenario in the last trading session that was on 1st September, 2023 (Friday) 📍 Well just to add a better confluence alongside PIVOT POINTS, here is the same chart with weekly pivots applied ↘︎ - This shows the entry of Weekly Initiative Players ( WH4 ) once the reversal structure gets confirmed ♠️ I hope your query has been answered to a satisfactory level and understanding from the basic to core 🥂 Let me know your view/suggestions in the comment section below 😊 Regards, Mukkull
NSE:MARUTI
by PivotMinati
9
Consolidation in HeritageFood - Hourly Time FrameThe stock of HERITAGEFOOD is currently consolidating within a 1-hour timeframe. There is potential for a breakout in either direction. This situation presents a trading opportunity. The long-side target is at 275.8, with a stop loss set at the middle of the range, which is 249. On the short side, the target is 226.55, and the stop loss remains the same at 249. This configuration results in a risk-reward ratio of approximately 2.7 on both sides.
NSE:HERITGFOOD
by popularExpert69803
BPCL Swing TradeBCPL has broken below the support zone, which has been tested multiple times in the past. This presents a good opportunity for a small swing trade. Entry: To take advantage of this situation, we can initiate a short position as soon as the next candle opens. Stoploss: For risk management, it's wise to set the stoploss just above the support level, with a little buffer added. Target: Our target for this trade can be set near the next support level, as indicated on the chart. Thank you, Please like and follow me.
NSE:BPCLShort
by vt_trader
3