Priceaction
ICICI Bank - Intraday Trade || 21st March, 2023 #stocks Analysis Criteria Used:
1. Please find the Chart Analysis done for the 21st March, 2023
2. The analysis for the Intraday Trade ideas, has been done based on Trend analysis and Chart Patterns with Volume Buildups
Focus On:
1. Always keeping your Risk Management in play
2. Using a Stop Loss; because it is your Best Friend
3. Always Plan your Trade and stick to your Plan
4. Dont overthink or overanalyse
5. Treat this as your Business and get serious about it
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Nifty 50 False Breakout CONFIRMED!Attached: Nifty 50 Weekly Chart as of 17th March 2023
This Week's Candle has Closed below the Trend Line drawn from the October 2021 Highs, after having broken out above that same Trend Line back in October 2022
So Price went from giving a Breakout to New Highs of 18,887 in Nov 2022 to slipping back below 18,000 and now it is back below the Very Important Trendline of Oct 2021
This is a Signature of a Classic False Breakout or what you may call a BULL Trap !
The Chart is as simple as it can be for you to understand with the Trend Lines and the Arrows
There is a saying in Technical Analysis:
"From False Moves come Fast Moves in the Opposite Direction"
So Expect the Bear Market in Nifty 50 to Unfold from here
Downside Targets are Now Open for:
1) September 2022 Lows to Breaks
2) June 2022 Lows to be Challenged Next
TCS Swing TradeTCS is near crucial support zone on daily chart. We can take swing trade here.
Entry:
We can go long after close of strong bullish candle near support zone.
Target:
We can keep the target near the next resistance zone as marked on chart.
Stoploss:
We can keep stoploss below the support zone.
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Profit from the Market Downturn Nifty Short OpportunityRecently, the Nifty has been rejecting from a resistance level. This means that the index has been attempting to move past the resistance level but has failed to do so, and as a result, the price has started to decline. This rejection from resistance indicates that investors are not willing to buy at these higher price levels and are instead taking profits or looking for better entry points.
Traders who use technical analysis can use this rejection from resistance as a signal to potentially take a short position or sell their existing long positions. They may use additional indicators or chart patterns to confirm the rejection and potentially profit from the downside movement.
It is important to note that rejection from resistance does not always lead to a significant decline in price. The price may consolidate or move sideways before making another attempt at breaking through the resistance level. Therefore, it is crucial to use other tools and indicators to confirm the rejection and make informed trading decisions.
HDFCLIFE in support zoneHDFCLIFE is currently trading at 475, which is very close to the recent low and is in a support zone. There are two possible outcomes: either the stock will rebound from this support level, leading to a bullish trend reversal, or the stock may break down through this support level. There is a possibility of a 10% move in either direction from this point.
HDFCLIFE's current market price is at a critical juncture and is likely to experience significant price movements in the near future. It is important to monitor the stock's price action closely and remain attentive to any technical signals that may indicate a potential reversal or continuation of the current trend.
NIFTY OUTLOOK (Resistance at 17774 - 824)NIFTY on EOD basis has given a good closing above its previous day high. This is always considered to be a very good bullish pattern.
The upcoming resistance will be at the zone of 17774 -17824 (50 Points) . The Fibo retracement of 0.33 lies in this zone too. A breakout above it will lead the Nifty towards 18071.
CHART & ANALYSIS
ADARSH DEY
Chaman Lal Setia Exports LimitedCLSEL:- The stock has given a breakout by forming an ascending triangle pattern and has come for retesting. Planning with a strict stop loss. If you are planning a trade, keep an eye on the rest.
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.
CUMMINSINDCUMMINSIND:- The stock has formed a head and shoulder pattern on the daily chart, keep an eye
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.
Time and Price When price liquidating (sweeps) previous day high (same day high/ Asian high ) , and price came to liquidating the high at perfect time London open time 2 ,after collecting Buy side order (buys side liquidity ) prices will tries to push downwards . since , our htf view is bullish this one is low probable set up .. but still a Valid One
In 5 mint time frame , after liquidating pdh. we can see a clear 5 mint engulfing candle .. and price creates a inducement to sweep . we can either enter on the 5 mint candle or after price swp the inducement candle .. while placing SL right above the high and target a nearby imbalance (FVG) or previous day low .
POLYCABPOLYCAB:- Stock has also given breakout by forming cup and handle, keep an eye
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.
GRP LimitedGRPLTD:- The stock has given a breakout forming a rounding bottom pattern and is consolidating at its resistance, keep an eye on the stock
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.
RAJESHEXPORAJESHEXPO:- The stock has given a breakout by forming a cup and handle pattern, keep an eye on the stock
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.
The Anup Engineering LimitedANUP:- The stock has given a breakout by forming a head and shoulders pattern and is back for retesting, keep an eye on the stock
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.
Hariom Pipe Industries LimitedHARIOMPIPE:- The stock has given a breakout by forming an ascending triangle pattern, a good stock for short term, keep an eye on the stock
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.
GRP LimitedRounding pattern is formed, wait for breakout, stock is taking support at 2665, keep your eye on the stock
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.
Jindal Stainless (Hisar) LimitedJSLHISAR:- Rounding bottom pattern is formed, strong stock for short term, wait for breakout, then plan something, keep an eye on your
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.
Jindal Saw LimitedJINDALSAW:- Rounding bottom pattern is formed, strong stock for short term, keep an eye
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.
KPIT Technologies Limited KPITTECH:- Cup and handle pattern has formed, don't plan until proper breakout is found, keep an eye till strong stock is there
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.