The energy index looks bullish on weekly charts as there are no signs of weakness.
As the Heikin Ashi chart has been making green candles also the structure of the chart is good.
The overall feel of the chart is good.
On daily charts the price is on the bottom of parallel channel and on the same pivots.
Renko is also making a green brick.
The stock may face high...
Trade Setup
Short October Futures from the pullback level or current level.
High Volatility
Candlestick Chart
25% move from 32290 (17 Jun 2022) to 39759 (19 Aug 2022)
If we draw Fibonacci retracement for the same level then the 38.20% level comes at 36906.40.
Macd - Bearish Crossover
Renko Chart
Fake breakout of resistance at the level of 39011 and...
Pre & Post Budget movements are most rewarding if captured correctly. Since the last two budgets, we are seeing a sharp fall post budget. This time it seems, this may not repeat. Renko charts says so! The market may either continue its upward journey or may trade in a narrow range. So I will either suggest going long on NSE:NIFTY or just SELL PUT options of...
Renko is often used prior to some big events especially election outcome. Renko bars + Supertrend + RSI is telling to take a short position on NSE:NIFTY .
Will NDA may fall short of the majority? Renko reveals something!
NSE:NIFTY should be in bullish mode next week. Best time to enter is today! Renko daily and RSI based on Renko charts suggesting an upmove atleast for two trading days.
Tomorrow NSE:BANKNIFTY may open with a gap down or flat. This will the best opportunity to enter a long position for 4-5 days.
RSI has entered the oversold entry which can slow down or even stop the falling NSE:BANKNIFTY
NSE:NIFTY can fall for next two days (till F & O expiry) . Best bet for shorting is above 11750 (if its a gap up opening) when it will surely reach an overbought region.
This call is based on tentative Renko Supertrend sell signal (Not yet appeared, but a good chance of appearing tomorrow) as well as a tentative 'Overbought RSI' signal (Again not yet appeared,...
