Profit
NIFTY falls 2.66%! Check out the opportunity it providesNifty - Technical Analysis:
-Nifty gaps up above 11700 but sellers take control as markets fall drastically ending down 2.65%
-Volatility index, India VIX, shot up over 26 per cent to nearly 30 levels.
Market - Driving Factors:
-Analysts are of the view that the reports of the Indo-China border tensions might have spooked investors, pushing them to take some money off the table as the market is at higher levels.
-The Nifty sectoral indices were all in the red, led by Nifty PSU Bank index, down 5 per cent.
-Rupee ends at 73.61 per US dollar against August 28 close of 73.39 per US dollar
Nifty - Outlook for Friday, 28th August:
Nifty is testing the lower trendline in the graph, We can expect a small pull back and another test of the trend line. Traders are required to be cautious while investors can book profits if markets move down from here.
Intraday Triangle Breakout on BankNiftyExample of a bullish symmetric triangle breakout on BankNifty as observed on the 15 min charts.
As the price moves between the converging trendlines, the point closest to the tip of the triangle, presents a good entry point to go long. The stop loss for the trade was the previous swing low and the target was the day's high. Giving a good 80-90 point profit, with a risk of only 30 points. 3:1 RR ratio.
niit tect stick to the planStick to the plan
As per the plan
now 1455 is strong support until there is any bad news in the market
buy on dip especially near 1452-1447
break-out and a long spike after price 1504
Tip: follow the channel
srtansfin favourite onesupport 700 can short if negative sentiments
buy above 712 & 719 till 732
reverse from 734 if crossed 734 next 764
Trade log NIFTY July 14In my weekly view I had said
10580-10560 is a very important zone for me to watch. If NIFTY drops below this zone this week, I think NIFTY has started a bearish move, momentum of which is not known this time.
If NIFTY continues in the 10700-10920 zone for this week, then I think NIFTY may keep distributing in the zone for some time.
There is a possibility of a bull trap in this zone, sharp up move, which looks like a breakout of 10850, but it fails quickly in a day.
This all exactly played out. NIFTY actually tested the important zone of 10560-10580.
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In my view posted yesterday
I believe, gap up failed on upside breakout, now in next two sessions the other extreme of the range will be tested, that is 10700.
I’ll wait for a breakout now of this range. I’ll also not expect great momentum on breakout, mostly if it is upward towards 10900.
10700 Level tested and NIFTY also filled the gap.
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My Observations today
NIFTY closed down 1.81%. It formed a clear down trend candle and halted at the support zone.
BANK NIFTY closed 3.16% down. It is in downtrend.
VIX rose 5.48%. VIX is above 25.
Advance Decline ratio is 3 to 46. Market wide is 459 to 1426.
Option data showing downward shift of range to 10500-10700
FII and DII both sold heavily.
** So today, was the pivotal day on downside ** All things that I observe support the daily downtrend. That does not mean I understand how much NIFTY will fall from here. But all trades should be on the short side till close above 10820.
10450 and 10500 is expected to put up some support if NIFTY continues to go down.
My view for tomorrow
I need one more confirmation of close below 10560. This will confirm some sort of intermediate top.
I am not sure about tomorrow, maybe a pause or continuation day. Overall this week has clear down bias. Any rise is selling opportunity as long as NIFTY does not close above 10820
My Weekly view , posted July 12
My Daily view, posted July 13
Trade Log NIFTY July 13In my weekly view I had said
If there is a breakout of 10850, I am not going to buy it till it gets confirmed by 2 days sustaining above it.
There was a breakout, and it did not sustain above 10850 for long and came right back in the consolidation zone.
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My trades today
I sold 10800 CALLs when NIFTY started showing weakness. Then I squared off the 1 of them near support. I’m carrying the remaining position overnight.
My Observations for the day
NIFTY failed the breakout. It closed 0.32% up. It formed a small indecision candle.
BANKNIFTY closed 1.38% down.
VIX is 1.24% up.
Advance Decline ratio for NIFTY is positive - 33 to 16.
Option data suggesting range of 10700-11000.
NIFTY showed strength and BANKNIFTY did not support. Sellers are not showing the strength. The lower end of the range ~10710 has been tested 3 times. Also NIFTY tried 3 times to close above 10820, but did not succeed. This is a very tight range of 100 points.
My view for tomorrow
I believe, gap up failed on upside breakout, now in next two sessions the other extreme of the range will be tested, that is 10700.
I’ll wait for a breakout now of this range. I’ll also not expect great momentum on breakout, mostly if it is upward towards 10900.
My Weekly View
SIEMENS JULY 6 2020 Siemens July 6 2020 performance .
Buy level at 1179
Siemens levels are clearly explained in the picture.
Our analysis is based on 1 Hr charts and we believe 1 hour charts are a perfect tool for the daily trends and intraday analysis. Our support and resistance levels are unlike others , we opt for hourly charts and technical analysis. Our analysis is based on levels , algorithms which we created , beyond technical analysis and mathematical equations and derivatives.
In the chart you can see the red and blue rounds. Clearly it shows the Supprt and resistance levels with accurate dynamics.
Sometimes we work on daily and weekly charts too for derivatives and fundamental analysis.
It’s a good idea to short sell at the current price as it’s averaging there.
Top resistance and Support is given clearly.
However average sell can be given at current price.
The lower highs and the lower lows give are also clearly explained and detailed for our intraday Analytics.
Our ideas and levels are our own created and out of our strong fundamental basic knowledge on trading and the self created analysis. That’s the reason we are highly accurate on forecasts we give.
Contact me for more analysis and recommendations.
LONG ON BAJAJ FINANCE LTD (NSE)!!!This analysis is only for educational purposes, Invest at your own risk!
The price had reached and bounced off its bottom most support and started its uptrend
The price may head up to the resistance line at around 2977 INR.
Taking a long position at around 2510 INR and holding till the price reaches aroung 2800 INR can be profitable.
The ON BALANCE VOLUME indicator also shows an uptrend since there is also supporting volume
The stop-loss must be placed near the support .
Any kind of criticism is highly appreciated !
CHEERS!
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