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RELIANCE

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. ---
NSE:NIFTY
by AVENUESOFINVESTMENT
2
90 minutes of FTSE backed sell-off spoils the recovery actNIFTY 50 EOD ANALYSIS 27-10-21 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. The Insights & Observations section carries links to my tweets that were posted during the day related to what I could gather from the markets. O 18295.85 H 18342.05 L 18167.90 C 18210.95 EOD - -57.45 points / -0.31% India VIX = 16.83 / +0.47% SGX Nifty 26-10-21 1845h = +9 points FII DII = -1441 Crores CHART BASED CONCLUSIONS using 5 Minutes Chart Nifty made a higher high and a higher low. Thanks to the weighted average method, Nifty managed to close above 18200. Nifty is highly vulnerable above 18300-325 band and that is triggering intense selling pressure usually after 1400h. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 36 Top 5 Draggers contributed = 83 Net = -47 POSITIVES Nifty could stretch the day high to 18342. Infosys has managed to bounce back and it is only on account of it that Nifty could hold on to the intense selling pressure. SBIN has been weathering the selling pressure well as it gets ready to receive its Q2 results next week. NEGATIVES Axis Bank fell 6%+ and that is what triggered others as well to become nervous. Reliance was looking good but came under intense pressure in the last hour or so. TCS remains subdued despite Infosys taking the lead in bouncing back. Bank Nifty ended well below 41000. TRADING RANGE FOR 28 October 2021 Nifty 17900-950 area is the support base and 18250-300-350-400 would remain as the resistance for now. I am unable to state any levels for Bank Nifty as it finds its ground in the territory above 41000. It is better to wait for the week to end before any level-based conclusions are drawn. INSIGHTS / OBSERVATIONS The insights now come in the form of tweets however Tradingview has not yet permitted me to post links to tweets or videos so I request you to visit my Twitter page or best follow me on Twitter to get updates as and when posted. What do you feel about this? Here is the video link -- Thank you, and Happy Money Making! Umesh 27-10-21 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. ---
NSE:NIFTY
by AVENUESOFINVESTMENT
Nifty in catch up mode & Bank Nifty takes a breatherNIFTY 50 EOD ANALYSIS 26-10-21 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 18154.50 H 18310.45 L 18099.30 C 18268.40 EOD - +143 points /+0.79% India VIX = 16.75 / -4.89% SGX Nifty 26-10-21 1830h = Flat FII DII = Unavailable till 1830h but likely to be net positive. CHART BASED CONCLUSIONS using 5 Minutes Chart Nifty managed to reclaim the lost ground to some extent and closed above 18250. After a mild gap-up opening, Nifty rose sharply but failed to hold higher levels around the FIB resistance of 18250-60. It then made a 150 point downward move. It found support at 18100 and then made yet another failed attempt head higher but upon witnessing a positive FTSE open, it then rose sharply over the rest of the session and hit a high of 18310. It thus made a higher high and a higher low. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 86 Top 5 Draggers contributed = 25 Net = +61 POSITIVES Nifty made a strong recovery in the PM session and closed above 18250. Nifty managed to find good support at 18100. Despite selling pressure on account HDFC Bank and ICICI Bank, Nifty, as well as Bank Nifty, ended in the green. Reliance made a good come back which made all the difference in the sentiment. NEGATIVES HDFC Bank fell yet again as peer pressure seems to be catching up on the big bro of Bank Nifty. Infosys and TCS continue to remain weak and are witnessing selling pressure at every rise. TRADING RANGE FOR 27 October 2021 Nifty 17900-950 as the new support base and 18300-350-400 would remain as the resistance for now. I am unable to state any levels for Bank Nifty as it finds its ground in the territory above 41000. It is better to wait for the week to end before any level-based conclusions are drawn. INSIGHTS / OBSERVATIONS The insight re ICICI Bank is pasted as part of my tweet posted earlier in the evening. Here is the link -- The insight re HDFC Bank, Kotak Bank, and ICICI Bank in relation to Bank Nifty is posted here as a link to my tweet: Please visit @umeshrindani as Tradingview does not allow the pasting of links yet for me. What do you feel about this? Here is the video link -- Thank you, and Happy Money Making! Umesh 26-10-21 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. ---
NSE:NIFTY
by AVENUESOFINVESTMENT
Yet again Bank Nifty rescues Nifty from free fallNIFTY 50 EOD ANALYSIS 22-10-21 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 18230.70 H 18314.25 L 18034.25 C 18114.90 EOD - -63.20 points /-0.35% India VIX = 17.55 / -2.71% SGX Nifty 22-10-21 EOD = Flat FII DII = -1668 Corres CHART BASED CONCLUSIONS using 5 Minutes Chart Nifty yet again underperformed and made a lower high and a lower low. Nifty is now too close to testing and or breaching 18000 line which is a big psycho level, especially on an EOD basis. Nifty on daily charts is well placed for a bounce-back as long as the recent lows are held and it keeps trading above 18100. On the weekly charts, Nifty is still bullish from a positional viewpoint. So no need to panic for the investors. All that it is doing is giving an opportunity to enter some scrips. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 30 Top 5 Draggers contributed = 51 Net = -21 POSITIVES Bank Nifty has been the single source of strength for Nifty for now. It has been able to do so as HDFC Bank, Kotak Bank, ICICI Bank and SBIN have been doing well. Ahead of its results, Reliance was a bit nervous and that is obvious. NEGATIVES Renewed negativity in Infosys is quite unnerving as it made TCS breach 3500 level as well. Now it is down 12.5% from its ATH hit in this very month! ITC has undone all the good gains that it had made. Clearly, this scrip is losing its shine. Tata Motors is having cruise control issues so it is better to be careful. TRADING RANGE FOR 25 October 2021 Nifty made sustained efforts to keep falling and it came close to 18000 make or break line. So 18000-18050 is now the new line of defense and 18200-250-300 and above are the lines of resistance Bank Nifty supports at 39000-39200 and no idea about the resistance levels as it has ended above 40000 for the day.. INSIGHTS / OBSERVATIONS Reliance did not go up as well which is unusual as it has happened in the case of TCS, HDFC Bank, and Infosys. Interesting price action on 25-10-21 in store. ICICI Bank will also react to its good results - does it break the trend of failing to hold the gap up the opening or it simply follows TCS. Wait and watch! Nifty 18000 is a crucial line and all eyes would be on the same. Generally, the tendency is to break such levels when there is optimism and then bounce back. I just read a headline stating 10-15% correction is in store if it breaks 17900. So those of us who are interested in understanding the psychology of the crowds and the traders, in particular, are likely to have a nice week full of learnings. Would we be able to earn while we learn? Well, that is the question whose answer is with each of the traders out there. ITC appears to be losing its shine and is becoming a traders’ stock as it has got itself engaged in to wild swings. What do you feel about this? Here is the video link -- Thank you, and Happy Money Making! Umesh 24-10-21 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. ---
NSE:NIFTY
by AVENUESOFINVESTMENT
Reliance harmonic and elliot wave studyReliance spot cmp 2710 Harmonic + Elliot wave study Time frame :- Daily Bearish deep crab pattern formation with PRZ in range 2710-2740,, Alternate 1.618 AB= CD pattern matures around same levels.. From last 5 sessions counter is making high around 2720 levels and not able to close on higher end, Today counter gave good breakout above the consolidation of last 4 sessions but at last was not able to sustain and got sold off and again closed below 2720 levels, indicates fresh buying is missing around this levels. Counting from right to left 2 candle is long legged doji where there was indecision between bulls and bears to take the control,, Today bull took the charge but were unable to handle and landed with long tail on higher side of daily candle.. Elliot wave formation,, at the moment impulse wave 5 of major wave (3) is on verge to mature ,, if major wave (4) unfold form current levels, we may see retracement of 23.6 to 38.2% of recent swing move which may lead prices towards 2560-2480 levels. Rsi divergence observed between peak of minor wave 3 and peak of wave 5,, where prices are making higher high but RSI fails to make higher high. Reversal confirmation can be seen one last 5 sessions low is broken and sustained..
NSE:RELIANCE
by RUDRA007
1
Simple Trade Setup | RELIANCE | 18-10-2021 [INTRADAY]NSE:RELIANCE Observations: 1) On 15 min time frame, we can see formation of cup and handle pattern. Please refer below chart : 15min Time Frame. 2) On 1 day time frame, if we apply FIB RETRACEMENT then we can see that critical level to breakout on daily time is 2702.45 level. But for safer side we will consider the high of previos candle which is coming at 2720 level. So we can put the major resistance at 2720 level. Breakout of it will give bullish move and we can see the ultimate target of 2778 in short term. Please refer below chart : 1day Time Frame. ------------------------------------- Trade Setup for Date 18-10-2021: Most of the levels will remains the same as per previous setup. 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
Nifty OHLC is above 18000 helps Nifty SoarNIFTY 50 EOD ANALYSIS -13-10-21 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 18097.85 H 18197.80 L 18050.75 C 18161.75 EOD - +169.80 points /+0.94% SGX Nifty at 1905h = +44 points FII DII = +506 Crores CHART BASED CONCLUSIONS using 5 Minutes Chart Nifty opened with a strong gap up of more than 100 points and then kept crawling up throughout the day. It made a higher high and a higher low. Nifty ended the day comfortably above 18150. Nifty low for the day was at 18050 and that is a great statistics to have - all OHLC above 18000. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 103 Top 5 Draggers contributed = 17 Net = +86 POSITIVES Nifty OHLC was above 18000. Tata Motors was the key driver for Nifty as it single-handedly contributed 50 points to Nifty. Reliance soared yet again though it ended below 2700. Bank Nifty OHLC was also well above 38000. NEGATIVES TCS continued to be under pressure. Bank Nifty ended in green but that was mainly on account of HDFC Bank and Kotak Bank. The rest of the lot looks vulnerable at higher levels. TRADING RANGE FOR 13-10-21 Nifty = 17900-18000 as the support band and I am not sure about the resistances other than the ATH level. Bank Nifty = 38000-38200 as the support band and I am not sure about the resistances other than the ATH level. INSIGHTS / OBSERVATIONS I do not recall ever seeing Tata Motors rise the way it did today. This was very pleasing to the eyes. And it was interesting and surprising to see that Maruti was the top loser when its elder sibling Tata Motors making the sector roar. The ever sleepy M&M & ITC also roared today. On one side DMart ended the day above 5000 and with a 7%+ rise selling FMCG items and the FMCG giant Hindustan Unilever fell more than 1%! Is distribution replacing manufacturing? What do you feel about this? Thank you, and Happy Money Making! Umesh 13-10-21 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. ---
NSE:NIFTY
by AVENUESOFINVESTMENT