Nifty
- Nifty has given a breakout from the Blue box and is now trading in the yellow box
- 252 day EMA @ 17396
- 63 day EMA near 17540
- Line of Resistance 17620 odd levels around 20 April 2023
- 21 day EMA around 17240
- Lower level of Yellow box 17220 odd levels
- RBI Policy Announcement on 6th April 2023
- Result Calendar to begin soon
View: Rangebound...
Nifty
Yesterday if we observe in daily candlestick charts Nifty formed a Doji candle - suggesting indecisiveness.
Today on a 15 min candle we observe Nifty struggling to stay above yesterday's high as of now.
Based on data analysis, FIIs were once again seen selling Index Futures. That makes it clear why Nifty has struggled so far. Now that Nifty is near their...
Reliance
We are looking at Daily chart of Reliance Industries
Observations
- 2420-2450 has the potential to act as resistance
- One may also look at the Red Line of Resistance as potential supply zone
- 2180-2220 has the potential to provide support to the stock
- The Green Line of Support comes around 2163
Given the chart setup,
My view : Rangebound...
Nifty
17564
If you have been following me,
Nifty has respected most of the levels identified with the help of Technical Analysis
The yellow zone above 18000 has been drawn long back. You can check my previous post
Thereafter, I have been suggesting this case: if Nifty starts trading below the blue line then probability is very strong for Nifty testing...
Nifty
- When Nifty was at 18060-18065 odd levels short was recommended.
Currently Nifty is down 170 odd points.
For Positional play, today's close is very important
- Watch out for 17860-17800 odd levels on the downside. If taken down, it could trigger more selling pressure. Bears might start tightening their grip
- Between 17860-17965 odd levels and the...
Nifty
Chart set up
- In the last 2 days Nifty has closed in positive territory, however it has found it difficult to close above 50% of last red candlestick which comes at 17740 odd levels
- a lot of resistance between 17740-18140
- on the lower side Nifty has a risk of falling towards 17331 / 17188 / 17096 odd levels
Derivative Data
- FIIs have gone in...
Nifty
On 29 Dec expiry day, I had suggested a Long trade which was squared off once Nifty touched 21 day EMA. It's there in the timeline.
Now, we are looking at Daily candlestick chart pattern
1. Nifty yo-yoing between 21 day EMA (Currently around 18252) and 63 day EMA ( around 18083)
2. Given breakdown below the blue trend line and now retesting it
3....
Asian Paints
The Chart set up
- Since Oct 2022 the stock has been trading in a channel
- chart is not strong but with crude prices stabilizing at lower side it favors the sector as oil is one of the major raw material.
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Trading plan
One...
Asian Paints
CMP 3158
63 day EMA is at 3179
21 day EMA at 3158
Stock is struggling to sustain above 63 day EMA
Given the set up one may consider to sell Asian Paints Dec expiry 3200 Call option currently around 52
SL / Exit if closing in Spot is above 3226
Take care & safe trading...!!!
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Disclaimer
- The view expressed here is my personal...
Buy above 43300. buy call CE or short PE if you are option seller
Sell below 43000. buy put PE or short CE if you are seller
take your own trade. I am not sebi registed. Happy trading.
Nifty
The level of 18350-18400 has acted as crucial resistance in the past
Immediate Support at 18258 odd levels
High risk traders may consider buying Nifty 17 Nov expiry 18300 Put option between 58-66 (CMP 62.50)
Target 84 / 96 / 102
SL 51.50
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future...
Nifty is in the range of 200 points from the last 5 days if it breaks level of 18110 May be it falls upto 18000 on the upside there is no clear vision from side. On the technical side rsi is less than 40 in 5 minute time frame and Bollinger band also shows some bearishness.
SBIN
We are looking at weekly chart of SBIN stock
Observations
- SBIN is yet to give a weekly closing above the Sept 12 - Sept 19 weekly high
- support at 554 / 545 / 530 zone
Given the set up
One can wait for SBIN to close and sustain above 579 on a weekly closing basis or for at least 3 days before taking for fresh long position
Otherwise 530-540 zone could...
Nifty
- We are looking at daily candlestick chart
Observations
- On 16 Sept Nifty opened gap down between 17877 to 17796
- coincidently Nifty 76.4% retracement level is also around same level 17777
- for 4 consecutive days Nifty is struggling at 17800 levels
- With 1 hour's trade to go today volume is on a lesser side
Given the conditions, fresh longs in...
Ambuja cement
We are looking at weekly chart of Ambuja Cement
- weekly closing high 539.35
- low made thereafter 471.05
The stock has possibly done its short term target on the upside (Jitna neeche utna ooper)
View: Rangebound
Given the set up one may consider a Bear Call Spread strategy
Sell 560 Call option currently around 8.3
Buy 600 Call option...
ICICI Bank
We are looking at daily candlestick chart pattern
Observations
- ICICI Bank chart reflects it made a gravestone doji on September 15, 2022 (indicates previous buyers were happy to sell at 936 odd levels)
- subsequently we saw profit booking in the stock
- now the stock is back at 920-940 odd levels
- we see ICICI Bank still not making a decisive...
Ambuja Cement
- After a big euphoric rally the stock seems to be consolidating now in the yellow channel box
21 day EMA is around 500
53 day EMA is around 464 and rising by around 1 point
My trading strategy is for a range bound market scenario.
Giving a profit potential of 11% till expiry as well as keeping loss limited
For details Like and message me
Take...
