BANKNIFTY IMPORTANT LEVELS FOR TOMORROW, 7TH AUGUST NSE:BANKNIFTY ANALYSIS FOR TOMORROW 🔺
❇️ IMPORTANT LEVELS 🚀
❇️ Support: 49750-49500-49154.
❇️ Resistance : 50214-50431-50800-51310
👉🏻 PURPLE LINE is a key level, above buying, Below selling.
👉🏻 YESTERDAY'S CLOSING IS IMPORTANT.
👉🏻 @thetradeforecast 🇮🇳
Reliance-trading
Reliance Stands on Trendline in 2hrs TFFriend's, This stock is mainly suggested for Intraday players for 13-06-2022. As we can see that what is happening with Reliance it's again and again taking support on Trendline. But today in Brearish market our view🧐 is also on Bearish side. We will short this when price show rejection below 2695 & substain below themselves with the accurate target🎯 of 2675,2615.We will only go bearish side otherwise ignore it. Reliance is among best intraday stocks which is stands in front of you.
Reliance Industries Ltd. BuyReliance Industries Ltd is India`s largest private sector enterprise, with businesses in the energy and materials value chain. The company works under different business segments
CMP: 2539
Target: 2600-2700
Reliance Buy at dip. Now Good Support on 2477. Given Day Breakout 2499. Now seen big move.
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Simple Trade Setup | RELIANCE | 28-12-2021 [INTRADAY]NSE:RELIANCE
all the trade setup will remain same as per previous.
Trade Setup for Date: 28-12-2021
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
Reliance, Saudi Aramco deal re-evaluate - Interesting developmen1. Buyers from a and b were happy that Reliance made 2600. Many who missed this move would be regretting not entering around 2460.
2. c gave buyers chance to buy again around 2450 with hope of 2600 and higher and many bought on 18th Nov.
3. Where they are going to keep their stop ? At what level are these buyers going to exit ? 2450 and 2400.
4. Here is where Reliance - Saudi deal re-evaluation news comes in - PRICE WILL GO BELOW 2450, 2400 LEADING TO FLUSH OF THOSE ALREADY HOLDING IT.
5. Around 2300 - 2360 is weekly time frame support for Reliance. So if buying comes and we see a reversal above 2400 withing few days then we will have up move to 2600 and 2750.
BUY because -
1. Buyers flushed.
2. Sustaining above 2400.
3. Shorts who entered below 2400 trapped now.
4. Negative news having no affect - means positive for up move.
5. Enter above 2400.
The Sell-off continues - Nifty ends October on a flat noteNIFTY 50 EOD ANALYSIS 29-10-21
In this post, I talk about the analysis for the day and the trading range for tomorrow. The video discusses with the help of the charts how the indices as well as leading stocks performed during the day and their likely play tomorrow.
O 17833.05
H 17915.85
L 17613.10
C 17671.65
EOD - -185.6 points / -1.04%
India VIX = 17.43 / -2.60%
SGX Nifty 29-10-21 1920h = +14 points
FII DII = -800 Crores
CHART BASED CONCLUSIONS using 5 Minutes Chart
Nifty opened with a mild gap down but then within 10 minutes fell more than 200 points and hit a low of 17613.
It then recovered 300 points in a swift and sharp move but hit an earlier resistance around 17915 and from there fell sharply and almost retested the day low.
It then shot up almost 150 points but in the last half an hour fell yet again and finally ended well below 17700.
It was a very choppy and violent moves day.
NIFTY WEIGHT LIFTERS & DRAGGERS
Top 5 Lifters contributed = 21
Top 5 Draggers contributed = 136
Net = -115
The above clearly shows the extent of bearish sentiment that prevailed in the market.
POSITIVES
Bank nifty managed to close above 39000.
Of the leading Nifty 50 pack, ICICI Bank, SBIN, Maruti, and Tata Motors remained positive along with HUL.
NEGATIVES
When the negativity is so much, there is little to write as too many things would get listed as negatives. However, the cause of concern is that many of the scrips have been dumped by the traders and investors as if it is all over for now.
The Nifty heavyweights that help the indices move up have been beaten down in the last few sessions and today was no different. Reliance, HDFC, Infosys, Kotak Bank, and HDFC Bank have all suffered.
TRADING RANGE FOR 01 November 2021
The extent of volatility and the wild swings are such that I will need to give a very wide range for the indices.
Nifty 17500-18000
Bank Nifty 38000-40000
INSIGHTS / OBSERVATIONS
The last time Nifty opened below 18000 was on 12-10-21 and then today.
The last few days witnessed wild swings in the indices. Here is my tweet which tells the story:
I felt honored today as one of the readers of this post stated that I was the mouthpiece of FIIs as my post carrying EOD analysis for 28-10 indicated doom and gloom. I hope the FIIs now realize this fact and retain me officially!
Today was the 3rd time in the week that just ended that the Bank Nifty range was more than 1300 points. This is quite an unusual thing to happen.
It appears that the retail investors/traders are now pushing the prices down in panic mode as that is how a well-planned directional price move ends or begins.
Looks like LIC of India was one of the DIIs at play as DIIs have bought 4000+ Crores.
What do you feel about this?
Here is the video link --
Thank you, and Happy Money Making!
Umesh
29-10-21
NOTE --
This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title, as well as its contents, can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right.
---
Reliance - Wait for breakoutReliance Industry seems to have a breakout from a triangle pattern, so give an entry with appropriate Stop loss only after its breakout
🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout)
After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
Reliance BreakoutIncrease in Oil prices coupled with the breakout on the chart is a good confluence.
Retest has been done nicely.
Reliance was holding up the market on last trading session.
Can expect this to continue for a few more trading sessions (2-3 trading sessions)
Use Halftrend for trailing stoploss. NSE:RELIANCE
Reliance*Study is based on Futures
Reliance has managed to crossover the trendline in daily charts today. What we have to watch is if it manages to hold because if it does, we might see a bull rally which will take the prices above 2000 levels.
Aggressive or risky traders can buy once RSI manages to cross 50 levels in Intraday charts with a stop loss of 1950.
Reliance LongI hope you can now see how Reliance represents an excellent low risk profit entry setup allowing you to trade in the market. Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Thank You
Disclaimer: It should not be assumed that the methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Examples presented in these products are for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.
Reliance LongI hope you can now see how Reliance represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Thank You
Disclaimer: It should not be assumed that the methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Examples presented in these products are for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.