EVENT (Feb 1 Budget date ) So My Experience volatility will be there and Indian vix will increase upto budget date
1. Upper side is having resistance and bottom side having support .
So wait for the range breakout or breakdown
2. As per the closing bases
*Closing base 26 dec 2022 18105.30
*Closing base 02 jan 2022 17859.45...
The Chart set up
The stock has been sideways for the last 8-9 months.
The stock has fallen approximately 9% from the top in the month of December so far.
Important levels on the downside which has the potential to provide support
S1 - 2467-2485
S2 - 2405-2420
Important levels on the upside which has the potential to act as resistance
R1 - 2565-2588...
There is a pennant (symmetrical triangle) pattern formation (blue triangle).
By choosing baseline charting (instead of candlestick or range), you can visualize the swings.
As of now it's hitting the resistance of 403. If it able to break the previous swing high (409 on 04/10) with volume, it can go high (~425).
But see the black dotted line. That's a...
We are looking at weekly chart of SBIN stock
- 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...
- 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
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Logic (Range bound): In shorter period, it's ascending triangle (green lines). In longer tf (red downtrend line is longer time downslope trendline), it's symmetrical triangle (pennant). Most likely the breakout will be at higher level only as the shorter term is bullish.
Fundamentally : Kotak Bank is the _best_ asset quality bank across PSU and pvt banks. Very...
- we see Nifty trading above 21 day EMA, 63 day EMA and well above 252 day EMA
- Line of resistance around 18200 odd levels
- Line of Support around 16800
- So is the 200 day EMA support around 16780
Right now we are in the middle of the range
Given the set up one may consider a Short Strangle strategy for Nifty for November...
View : Medium - Long term Bullish
Range Bound : 657 Days Range-Bound
Range : 39.25/42.05 - 60.55/63.90
View Bullish at 60.55
Findings: Broken Range above 63.90 (New high 65.40) and tested support of 60.55/58.70.
Buy at 60 with stop loss 56.00 CMP 59.30
Target = 65 - 72 - 74 - 79 -85 +++++ for long term
Structure : Range bound
What is range bound market?
Whenever a stock or index is trading between support and resistance it is called Range bound.
There is no strong move in either direction.
Prices tend to ping back and forth near old highs and then fall to prior lows.
The range-bound movement usually occurs at the end of a large move as the...
Time Frame : D
Structure Range Bound
Range: 210 - 268
CMP : 248.60
View : Bullish till 260 then expecting breakout of 268 due to multiple buying between 210-216
Important support or Buying Zone : Multi support at 211 -216
Buy at > = 248.60
Stop Loss : 238
Target 260 - 270 - 295
Last week saw the NIFTY make a range of close to 615 points and one could see strong buying interest near 17200 levels and absence of any buyer intention above 17560 zone. For today and the current week, if we work with the assumption of a range bound market, we may find trading at the boundaries expecting a reversal to be a successful strategy. The index can fall...
In the week gone by NIFTY has made an inside bar on weekly charts. However the price action for the last five weeks clearly show buying emerging at lower levels and one can see higher lows being registered in the last five weeks. Based on price action in shorter time frame and also after looking at the FnO data we think the market is likely trade sideways with in...
When Nifty was sub 16000 levels this is what was posted
Hit the play button and see the magic of Technical Analysis.
Now Nifty is near 200 day EMA
current levels have also acted as Support in the past
can the same zone act as resistance now?
Will Nifty fly higher or would it stop?
Only time will tell...
We are not that bullish from here on .
Candle Pattern Form on Weekly Closing is Shooting Star at the top ( A Bearish Candle) indicating trend reversal.
A Death Cross was also formed on 12th April when DMA 44 crossed below DMA 200.
There is a Gap between 778 to 788... which is offering resistance!
Due to Good Q4 2022 Results, the Stock is likely to open GAP UP on Monday, April 25,...