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RELIANCE

Simple Trade Setup | RELIANCE | 27-12-2021 [INTRADAY]NSE:RELIANCE Observations: 1) On 15 min time frame,we can see that it has been facing resistance from the resistance channel. And major breakout level is at 2400 level range. On sustainable breakout of 2400 it will be short term bullish. Please refer below chart : 15 min Time Frame. ------------------------------------- Trade Setup for Date: 27-12-2021 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.
NSE:RELIANCE
by Trading_hawk
5
Data Drievn Analysis of Nifty and Bank Nifty for w/e 24-12-21DATA DRIVEN ANALYSIS OF NIFTY & BANK NIFTY FOR THE WEEK ENDING 24-12-21 This is a new weekly post/series where I will briefly capture the key highlights of the 2 leading indices. This post is supported by a video that takes you through the details of how I have arrived at the analysis. I encourage you to view the video as well since not everything can be captured in a document form. I hope that this effort would help the readers and viewers to get a crisp idea about what happened in the markets over a period of one week. Important - Although the markets are very hard to predict in the short term, the main issue presently faced is that even on an intraday basis, the markets have been extremely volatile. This may impact the traders who trade on an intraday basis. If you are one such trader, please be careful and assign top most priority to risk management. BANK NIFTY The comparison is done with 1-12 Numbers as the start of the month. EOD on 1-12-21 = 36364 EOD on 24-12-21 = 34857 up by -1507 points or -4.14% from 1-12-21 The highest level in the week ending 24-12-21 = 35477 on 23-12-21 The lowest level in the week ending 24-12-21 = 34018 on 20-12-21 Difference Highest - Lowest = 1459 points or 4.29% from the lowest level In the last one week, Bank Nifty has made a downward move of 761 points or 2.14% which is in continuation of the earlier week’s bearish sign. NIFTY The comparison is done with 1-12 Numbers as the start of the month. EOD on 1-12-21 = 17166 EOD on 24-12-21 = 17003 down by 163 points or 0.95% from 1-12-21 The highest level in the week ending 24-12-21 = 17155.60 on 24-12-21 The lowest level in the week ending 24-12-21 = 16410 on 27-12-21 Difference Highest - Lowest = 745 points or 4.54% from the lowest level In the last one week Nifty has made an up move of 18 points or 0.11% which potentially indicates a slowing down of selling pressure. FII - DII DATA: DEC 2021 FIIs = -33,271 Crores DIIs = 26.405 Crores Net is = -6,866 Crores There has been a slow down in the severity of selling by FII which may be attributable to the year end holidays and or a potential shift in their strategy. Only time will tell us what is the truth. Conclusion: On 24-12, FIIs have turned net sellers though by a mere 44 Crores. This is an unusual sight. When FIIs turn net sellers generally DIIs keep buying and when DIIs turn net sellers, FIIs buy. This has been the approach - the key point is whether this is likely to happen or DIIs may also join hands in the sell-off. SGX Nifty is as of the end of the week indicating a flat close and the UIS markets would open only on 27-12 after 24-12 holiday so the true feel of the sentiment would be known only on 28-12. BANK NIFTY In the sharp sell-off, the HDFC Bank, ICICI Bank, SBIN, and Kotak Bank were brutally hammered and these have heavy weights on the index moves. Whereas ICICI Bank and to some extent SBIN have somewhat recovered, HDFC Bank, and Kotak Bank have failed to hold on to the higher levels. They have witnessed selling pressure - HDFC Bank below 1460 and Kotak Bank below 1790-1800. Unless these 2 banks clear the hard lines, Bank Nifty is likely to remain volatile having the path of least resistance on the downside. NIFTY The IT big neads and other IT heads of the Nifty 50 pack have helped Nifty throughout the week in getting back up from the valley of 16400. HDFC and Reliance are the biggest troubles for Nifty as these two have dragged Nifty by the collar and brought down. In addition to the above, the weakness in Bank Nifty as explained above has been an issue and would remain and Nifty may find it hard even if it goes up, to sustain and close the days in the coming week at higher levels. 17250+ on Nifty and 36000+ on Bank Nifty need to be held on to for a couple of days for the indices to have any chance of a good restoration of the bullish sentiment. Until then, even on a declining India Vix, the real volatility and choppiness on an intraday basis is more likely to continue. Here is the video link: Please feel free to comment/share your feedback as, like you, I am also a learner of the markets! And therefore, I have the right to be wrong on either side as no one can predict the moves. Happy Trading/Investing! Umesh 25-12-21
NSE:NIFTY
by AVENUESOFINVESTMENT
Indices gain and close higher, are bulls in control?NIFTY 50 EOD ANALYSIS 23-12-21 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 17066.80 H 17118.65 L 17015.55 C 17072.60 EOD +117.15 points / +0.69% SGX Nifty 23-12-21 @ 1855 = +23 FII DII = + Not yet available CHART BASED CONCLUSIONS using 5 Minutes Chart Nifty opened with a gap-up of 100 points and as usual, there was a mini sell-off. It then bounced back from above 17000 and then made attempts to cross 17100 but met with resistance and then faded. This time it moved closer to 17000 but again found support and crossed 17100 but the customary 1300h selling coupled with expiry day volatility ensured that it remained volatile and finally ended well below 17100. The overall movement was range bound within 100+ points, however, the India Vix gives a different view as it has fallen. Nifty and Bank Nifty have made a higher high and a higher low. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 671 Top 5 Draggers contributed = 14 Net = +53 BANK NIFTY WEIGHT LIFTERS & DRAGGERS Top 3 Lifters contributed = 151 Top 3 Draggers contributed = 27 Net = +124 POSITIVES Bank Nifty and Nifty together have closed above key psycho levels of 35000 and 17000 respectively. Bajaj twins have chosen to be the lifters today and the bounce back in HDFC and Kotak Bank is a good sight as these two have remained under pressure for the last few days. Infosys has closed at a new ATH and has helped Nifty in the last few sessions. NEGATIVES Reliance, HDFC Bank and ICICI Bank ended in the red despite the overall positivity. Their inability to sustain at higher levels is not a good sign for the bulls. Higher levels in Indices appear to be attracting sellers. TRADING RANGE FOR 23 DEC 21 Nifty support = 16700-800 revised upwards considering the fact the low for the day was above 17000. Nifty resistance = 17100-200-260-300 Bank Nifty Support = 34500-800 Bank Nifty resistance = 35500-700-800 INSIGHTS / OBSERVATIONS Nifty OHLC above 17000 and Bank Nifty OHLC above 35000. This is refreshingly different and a positive sign. The key is to end the week in this manner. Even though the indices have ended up, the extent of movement is not wide enough as compared to yesterday. This could either mean that the indices are consolidating on the way up or are facing hard resistance at higher levels. We have experienced many times that the indices tend to give a feeling that they are unstable but then end up moving up higher over a period of a few days leaving many retailers who may be waiting for the right opportunity. That is why it is best to keep partially adding to the portfolio holdings at good levels. 1 There is a sudden spike in the Covid cases in Mumbai and that is not a good sign. This along with Omicron cases may weigh in on the indices should the situation worsen. It is better to be cautious for now. What do you feel about this? Here is the link to the video: Thank you, and Happy Money Making! Umesh 23-12-21 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. ---
NSE:NIFTY
by AVENUESOFINVESTMENT
Relinace Industries: Moving as per planReliance Industries On 25 Nov, this is the chart that was envisioned... The stock movement has so far been on expected lines and now we see Reliance around 2280 odd levels today... 2260-2280 acted as Resistance in June 2021. Would previous Resistance of June 2021 now act as Support...? 200 day EMA at 2277 coinciding with important Support levels Given the set up, one may consider to sell 27 Jan 2022 expiry 2200 Put option currently around 45 Note: I am comfortable buying the stock at current levels but given the overall market sentiment, I'm going for this strategy. The implication of this strategy is I'm buying at 2155 even when the stock is trading at 2280 odd levels. Now since this is a leverage product it gives me a max reward potential of approximately 11.5% in case the view is right; at the same time the strategy has an in built loss protection for a fall up to 2155 odd levels. In case the stock falls further, I would be ready to take delivery of the stock at further discount. Trust you find the insight helpful. Plan your trade accordingly assessing your risk appetite... Take care & safe trading...!!! Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:RELIANCE
by indiamarketoutlook
1
Is Nifty getting ready to end this week above 17000?NIFTY 50 EOD ANALYSIS 22-12-21 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 16865.55 H 16971.00 L 16819.55 C 16955.45 EOD +184.60 points / +1.10% SGX Nifty 22-12-21 @ 1835 = +12 FII DII = +770 Crores CHART BASED CONCLUSIONS using 5 Minutes Chart Nifty opened with a good gap-up and then shot up to cross 16900 for some time and then sold-off as usual. It then recovered in a slow paced market with some amount of choppiness and never looked back to retest the lows. It rose almost 100 points in the final hour even though FTSE was showing a somewhat negative bias. Nifty has made a higher high and a higher low. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 101 Top 5 Draggers contributed = 9 Net = +92 BANK NIFTY WEIGHT LIFTERS & DRAGGERS Top 3 Lifters contributed = 318 Top 3 Draggers contributed = 4 Net = +314 POSITIVES Bank Nifty ended above 35000 is a good sign and Nifty managed to close above 16950 is also a good sign. Reliance, SBI, ICICI Bank, and Kotak Bank are looking better than what they were a couple of sessions back. This would impact the sentiment positively and help steady the indices. The positive sentiment was prevalent was mostly throughout the market with almost 70% of the NSE scrips for which the Advance-Decline ratio is worked out showing a positive close. NEGATIVES HDFC continues to show weakness at higher levels and as a result even HDFC Bank seems to have been impacted as unlike yesterday, it ended on a muted close. 16985-17000 is a hard line to cross. TRADING RANGE FOR 23 DEC 21 Nifty support = 16600-700 revised upwards considering the fact the low for the day was 16800+. Nifty resistance = 16985-17000-17050-17100-200 INSIGHTS / OBSERVATIONS Though the last 2 sessions have ended in good green, on a closing basis, Nifty is still below the 17-12-21 level. This is therefore likely to play out as the beginning of a tough line of resistance. Despite a weak FTSE, our indices ended in good green which is a surprise considering the fact that the tendency so far has been to be sold off as and when FTSE is in the red. Maybe there is something that is likely to unfold tomorrow in the opening hour. Bank Nifty was 421 points of which 318 were from SBIN, ICICI Bank, and Kotk Bank. It is good to see SBI and Kotak Bank turning in as positive contributors. Now only HDFC Bank should remain non negative for the index to move up. What do you feel about this? Here is the link to the video: Thank you, and Happy Money Making! Umesh 22-12-21 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. ---
NSE:NIFTY
by AVENUESOFINVESTMENT
Christmas Sale in On! Will it be Bears or Bulls all the way fromNIFTY 50 EOD ANALYSIS 20-12-21 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 16824.25 H 16840.10 L 16410.20 C 16614.20 EOD -371 points / -2.18% SGX Nifty 20-12-21 @ 1900h = +25 FII DII = -801 Crores CHART BASED CONCLUSIONS using 5 Minutes Chart Nifty opened with a significant gap down and from there it never looked back and kept drifting and fell 400 points further from the opening level. It appeared that the leakage is unlikely to be stopped as there was hardly any buying taking place. Finally, around 1300h, either the shorters chose to cover or the bulls stepped in and the index managed to crawl and stumble upwards and ended above 16600. Nifty has thus breached all important levels on the way down and made lower highs and lower lows. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 10 Top 5 Draggers contributed = 160 Net = -150 BANK NIFTY WEIGHT LIFTERS & DRAGGERS Top 3 Lifters contributed = 00 Top 3 Draggers contributed = 778 Net = -778 POSITIVES I am not sure why Cipla and Dr Reddy’s bounced up - if the up move was on account of Omicron, it is not good in the overall interest of the markets. The only other consolation was that 16400 on Nifty and 34000 on Bank Nifty were not breached. NEGATIVES There is no dearth of negatives today so I better restrict the same as follows: For Nifty – Reliance and HDFC twins were the pain points. For Bank Nifty - HDFC Bank, SBIN, and ICICI Bank were the pain points. TRADING RANGE FOR 21 DEC 21 I did not expect this kind of paper support levels on the charts and I am not sure whether I will be able to draw any lines tomorrow as well. So let us wait and watch how this plays out. INSIGHTS / OBSERVATIONS Bank Nifty has clearly underperformed to Nifty as it is down more than 3% on EOD basis. This is a significant fall and was responsible for the turmoil in the markets today as well. On an EOD basis, Bank Nifty is down 1178 points of which 778 have been contributed by HDFC Bank, SBIN, and ICICI Bank. This itself shows what would have been the intensity of the selling pressure. With today’s fall, the much awaited Santa Claus rally has turned into a Christmas Sale on a Red Monday! We have been pushed back by a few months by the price action in the last 2-3 sessions in particular. The India Vix is significantly high and the moves remind me of the Mar 2020 type of price action where the indices used simply drift at market open. And here is my latest tweet on the Big Daddy of the Moving Averages: What do you feel about this? Here is the video link – Thank you, and Happy Money Making! Umesh 20-12-21 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. ---
NSE:NIFTY
by AVENUESOFINVESTMENT
Bank Nifty under pressure, will it breakdown? NIFTY 50 EOD ANALYSIS 15-12-21 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 17373.00 H 17379.35 L 17184.95 C 17248.40 EOD +27 points / +0.16% SGX Nifty 16-12-21 @ 1840h = +14 FII DII = +65 Crores CHART BASED CONCLUSIONS using 5 Minutes Chart Nifty opened with a strong gap-up and made attempts to hold on to the higher terrain, but as usual, the selling pressure was so intense that it fell more than 100 points in a matter of an hour or so. It then made an attempt to rally towards 17300 but could not hit the level and then again it fell but this time it broke 17200. It rallied once again but this time made a lower high and then again fell sharply and broke 17190 as well. Finally, the expiry actions lifted Nifty as Reliance also crossed 2400 and Nifty ended just above the previous close. In the process, Nifty has made a higher high but a lower low. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 53 Top 5 Draggers contributed = 23 Net = +30 BANK NIFTY WEIGHT LIFTERS & DRAGGERS Top 3 Lifters contributed = 01 Top 3 Draggers contributed = 189 Net = -188 POSITIVES Reliance ended above 2400 and Infosys also moved up despite the adverse market conditions. NEGATIVES ICICI Bank was under pressure possibly on account of the penalty news and that is what dragged the sentiment on the downside. Even during the day, ICICI Bank was very choppy - moving up and down within a narrow range. HDFC continues to be hammered with every rise. Kotak Bank hit 1890 and from there fell more than 1% to end at 1860. This also impacted the indices a lot. The indices are now becoming vulnerable to a couple of leaders or laggards and this is not a good sign in my opinion. TRADING RANGE FOR 17 Dec 21 Nifty Support = In view of the continued selling pressure, I move down the supports to 17050-100. Should this break, 16750-850 may open up as a support. Nifty resistance = 17300-380-400-450-500. Bank Nifty Support = 36000-200-500 Bank Nifty resistance = 36700-850-37000 INSIGHTS / OBSERVATIONS The Intense and hard hammering of key support levels with relative ease and that too many times during a short period of time is not a good sign. It appears that Bank Nifty may crumble under such pressure. Reliance and Infosys salvaged Nifty and it appears that the bulls have clearly lost the grip on how to firmly grip the markets. Though FTSE was strongly positive our indices just ignored the fact as if we are in a different league. Or there's something that I am not able to understand that is happening in the market. The Bank of England has hiked the interest rates and FTSE is now up almost 1%. What was expected from the Fed has been actioned by the UK regulator and our indices caught cold. Yesterday, I had mentioned how the markets could open today. Here is the link to my tweet posted in the morning: What do you feel about this? Here is the video link – Thank you, and Happy Money Making! Umesh 16-12-21 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. ---
NSE:NIFTY
by AVENUESOFINVESTMENT
Will Nifty end the week below 17000? NIFTY 50 EOD ANALYSIS 15-12-21 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 17323.65 H 17351.20 L 17192.20 C 17221.40 EOD -103.50 points / -0.60% SGX Nifty 15-12-21 @ 1930h = Flat FII DII = -2,354 Crores CHART BASED CONCLUSIONS using 5 Minutes Chart Nifty opened with a mild gap up and as usual, it was sold in to and heavily as it breached 17200 as well. It then managed to recover well but hit an intraday resistance around 17280 and fell back again closer to 17200. It yet again bounced back and this time made a desperate attempt to retest the previou close which failed and then it fell almost 100 points to end below 17250. It was a very choppy day yet again. In the process, Nifty has made yet another lower high and yet another lower low. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 14 Top 5 Draggers contributed = 58 Net = -44 BANK NIFTY WEIGHT LIFTERS & DRAGGERS Top 3 Lifters contributed = 24 Top 3 Draggers contributed = 159 Net = -135 POSITIVES Kotak Bank looks good and ended up 1%+ amidst intense pressure. NEGATIVES Reliance yet again ended below 2400 and this is going to weigh a lot on Nifty performance. India Vix has gone up. HDFC Bank is unable to sustain 1500+ levels. HDFC gets hammered upon every rise. IT big heads were under extreme selling pressure. Bank Nifty ended below the important level of 36800 and Nifty well below 17300. Net FII DII numbers are more than -2,000 Crores. TRADING RANGE FOR 15 Dec 21 Nifty Support = In view of the continued selling pressure, I move down the supports to 17050-100. Should this break, 16750-850 may open up as a support. Nifty resistance = 17300-380-400-450-500. Bank Nifty Support = 36200-500-800 Bank Nifty resistance = 37000-200-500-700 INSIGHTS / OBSERVATIONS Just because FTSE was in the red, our indices were made to fall in the last 45 minutes or so. This is what I could gather as the fall came from around key potential breakout levels that could have changed the color of the EOD prices. I have a feeling of course based on my readings that whenever indices end the session near day's low, they tend to bounce back the following day. Let's see how it unfolds tomorrow. The last time Bank Nifty made a low at or above 37000 was on 25 Nov - so much is the negativity being experienced by the index. Tomorrow is the weekly expiry so either has the potential to register a low above 37K or simply fall further. Even though Bank Nifty has ended below 36800, as mentioned in my weekly analysis, Bank Nifty is outperforming Nifty for now as for Nfty, the pressure is oncoming from HDFC, Reliance and now from the IT big heads. What do you feel about this? Here is the video link – Thank you, and Happy Money Making! Umesh 15-12-21 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. ---
NSE:NIFTY
by AVENUESOFINVESTMENT
Yet another red day as Indices drift lowerNIFTY 50 EOD ANALYSIS 14-12-21 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 17283.20 H 17376.20 L 17225.80 C 17324.90 EOD -43.35 points / -0.25% SGX Nifty 14-12-21 @ 1845h = +25 points FII DII = -342 Crores CHART BASED CONCLUSIONS using 5 Minutes Chart Nifty opened with a strong gap down and then made an immediate recovery. It tried to move towards the previous close but then sold-off and made a new low. And then bounced back from there and as FTSE opened it breached the previous close only to begin yet another sell-off of 100+ points but failed to end flat or even closer to 17375-80. The moves were quite choppy throughout as there was a hard battle ongoing between the bulls and the bears. In the process, Nifty has made a lower high and a lower low. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 25 Top 5 Draggers contributed = 59 Net = -34 BANK NIFTY WEIGHT LIFTERS & DRAGGERS Top 3 Lifters contributed = 34 Top 3 Draggers contributed = 68 Net = -34 POSITIVES The indices managed to make a good recovery from their day lows. FII selling is well below 1.000 Crores and is indicating cooling off of the selling pressure. NEGATIVES Reliance ended below 2400 and this is going to weigh a lot on Nifty performance. India Vix has gone up. HDFC twins, and Kotak Bank are still in the negative and this is impacting the indices. TRADING RANGE FOR 15 Dec 21 Nifty Support = 17200-300 may well be the new base. Nifty resistance = 17400-450-500-550-600 on a closing basis. Bank Nifty Support = 36200-500-800 Bank Nifty resistance = 37000-200-500-700 INSIGHTS / OBSERVATIONS Both the indices had a narrower range in comparison to yesterday and even though they ended in red, but the extent of redness is lesser. My reading is that the indices now seem to evince buying interest around today’s lows. This means that 36500 on Bank Nifty and 17200 on Nifty may well prove to be the new swing base or areas of interest or value. Though FTSE was positive - the extent lowered as it progressed, but our indices somehow managed well to close in the red. This was quite evident as Bank Nifty was not allowed to close even on a 5 minute candle in the last one hour. This also made Nifty end in red. Reliance and Bajaj Finance were the leading draggers yesterday and they have maintained their position at the level. This is why Nifty ended in red today. And for Bank Nifty, Kotak Bank and HDFC Bank were responsible for the red closing. Even if these 4 do not drop further, the indices could start seeing some greenery in the numbers and on the charts. What do you feel about this? Here is the video link -- Thank you, and Happy Money Making! Umesh 14-12-21 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. ---
NSE:NIFTY
by AVENUESOFINVESTMENT
Indices fall significantly amidst increased volatilityNIFTY 50 EOD ANALYSIS 13-12-21 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 17619.10 H 17639.50 L 17355.95 C 17368.25 EOD -143.50 points / -0.82% SGX Nifty 13-12-21 @ 1920h = -8 points FII DII = -1392 Crores CHART BASED CONCLUSIONS using 5 Minutes Chart Nifty opened with a good gap-up, made efforts to consolidate above 17600, but failed to do so and broke 17600. And then, the usual sell-off started but in a slow-paced manner as it drifted towards lower levels. Soon after noon, Nifty fell 70+ points in a matter of 5 minutes and that changed the hopes of a close around the close of 10-12. Nifty has now made a higher high but somehow managed to make a lower low as well. This is quite an unusual situation in a market that is trying to restore its direction towards the beginning of the bull market line. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 16 Top 5 Draggers contributed = 88 Net = -72 BANK NIFTY WEIGHT LIFTERS & DRAGGERS Top 3 Lifters contributed = 57 Top 3 Draggers contributed = 189 Net = -132 POSITIVES Axis Bank is the only leading scrip which is standing tall on a day when the indices have reversed the gains made in the last few sessions There is nothing more that can be stated as a positive. NEGATIVES Nifty ended below 17400 and Bank Nifty ended below 37000 - what was a positive for the 10-12 session is now the negative - so support has become a resistance. India Vix has once again moved up leading to increased volatility. The top lifters of Nifty and Bank Nifty could barely contribute which is not a good sign at all. FII DII data is net negative. TRADING RANGE FOR 14 Dec 21 Nifty Support = 17200-300 may well be the new base. Nifty resistance = 17400-450-500-550-600 on a closing basis. Bank Nifty Support = 36200-500-800 Bank Nifty resistance = 37000-200-500-700 INSIGHTS / OBSERVATIONS Many were elated as SGX ended the last week above 17600 and the spot opened in our market at 17619 so many long positions would have been created in line with the positive global cues and US markets also closing on a high. However, that would have been short lived since in line with what has now become the norm, the sell-off began and on the first day of the week, it was quite intense. Many of the traders may have been trapped as Nifty kept breaking supports with ease and in slow paced market moves. Bank Nifty seems to have a lot of soft corners for 36800 area as it has visited the surrounding areas many times in the last few sessions. This is yet again indicating that there is inherent weakness in some of the leading scrips which have found comfort in making range bound moves only for now. Bajaj twins from the Nifty pack have become a regular feature in the lifters or laggards. Somehow, they make it a point to appear on and off in these two areas. The range for the day for the tradable indices have more than doubled. This is a good sign for the traders but it has also resulted in increased volatility. Bank Nifty ended 180 points lower but the interesting thing is that the top 3 draggers contributed 132 of these points. What do you feel about this? Here is the video link -- Thank you, and Happy Money Making! Umesh 13-12-21 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. ---
NSE:NIFTY
by AVENUESOFINVESTMENT
Simple Trade Setup | RELIANCE | 14-12-2021 [ INTRADAY ]NSE:RELIANCE Observations: 1) On 1day time frame,it couldn't manage to sustain above 21DMA and close below 21DMA. But it is still trading above 100DMA. 100DMA is major support. 21DMA is placed at 2444.06. 100DMA is placed at 2389.26. Major breakout level is at 2500 level. Please refer below chart : 1day Time Frame. 2) On 1hr time frame, it has been trading in triangle pattern since long time. And it is keep on squeezing. And now it is near to the squeezing exaggeration. Breakout on either side, we can see good move. Please refer below chart : 1hr Time Frame. ------------------------------------- Trade Setup for Date: 14-12-2021 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.
NSE:RELIANCE
by Trading_hawk
Reliance & ITC steady Nifty, HDFC Bank drags Bank NiftyNIFTY 50 EOD ANALYSIS 09-12-21 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 17524.40 H 17543.25 L 17379.60 C 17516.85 EOD +47.10 points / +0.27% SGX Nifty 09-12-21 @ 1540h = -27 points FII DII = -803 Crores CHART BASED CONCLUSIONS using 5 Minutes Chart Nifty opened with a gap up and then FIIs would have pressed the Sell button and it fell 100+ points and then recovered a bit but then fell another 100+ points. Once this shake out was done, it consolidated around 17425 and then rallied but could not clear the opening high. It then experienced the customary expiry sell off and finally managed to end above 17500. Even though there was positivity throughout and India Vix is also showing a good downward move, the market was choppy and many SLs may have been hit on either side. Nifty has in the process, made a higher high and a higher low. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 71 Top 5 Draggers contributed = 41 Net = +30 BANK NIFTY WEIGHT LIFTERS & DRAGGERS Top 3 Lifters contributed = 21 Top 3 Draggers contributed = 216 Net = -195 POSITIVES Nifty closed above 17500. Reliance, ITC and LT helped Nifty steady and end in the green otherwise it would have also ended in the red. ITC waking up again is a good sign giving Savings Account equivalent return in a day. India Vix keeps falling. NEGATIVES Bank Nifty was unable to hold on to the positive approach and closed well below yesterday’s close. FII DII are net sellers as FIIs keep selling and DIIs have not been buying enough indicating that there may be a further slide in store. TRADING RANGE FOR 10 Dec 21 Nifty Support = 16900-17000 may well be the new base. Nifty resistance = 17550-600-625 Bank Nifty Support = 36500-800 Bank Nifty resistance = 37500-700-38000 INSIGHTS / OBSERVATIONS Nifty ended the day at 17516 and this is the highest EOD close in this month and the first after 23 Nov 21. If Reliance and ITC had not performed well, Nifty too would have caved in like Bank Nifty as traders/investors may have started banking gains after a significant up move from the latest swing low. Yesterday I exited the remainder of my position in HDFC Bank as I feel it's a sick stock as it moves up 10 points and slips 20. And good that I did so as today, it is the leader in dragging the indices. Bank Nifty ended with a -202 points and HDFC Bank contributed 175 of these. This is the power of the heavyweight though I would prefer to stay away from it. It is strange that yesterday HDFC Bank contributed 200+ points and today almost that but in the opposite direction. And here is my take on ITC - please click the link to read the tweet: What do you feel about this? Here is the video link -- Thank you, and Happy Money Making! Umesh 9-12-21 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. ---
NSE:BANKNIFTY
by AVENUESOFINVESTMENT