Base Zone : Uptrend Brick Size = 110 (Based on the Average Range) Entry Level = 4th Brick (22550) Stop Loss = 3rd Brick Low (22330) Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
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...
Nifty looks Dicey. Buy above 18000 and Sell below 17400. The next resistance is at 18275 and support is at 16614. Nifty is at its important resistance level 17717. In the last trading sessions the nifty had rejected from these levels continuously. Macd is in a bearish cross. Renko chart painted a red brick leading with a light green brick. For educational purposes only.
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...
Timeframe - Weekly. Box size - 0.5 x ATR 8 in candlestick chart. Change the Box size every 4 weeks as per the formula mentioned. Also, don't change the timeframes when a trade is taken based on the above system to avoid false signals.
NSE:NIFTY can downslide before the union budget. Renko charts are saying so. After a huge upside its now time to encash Nifty with short position.
NSE:NIFTY may open gap down tomorrow, but its time to remain long as per Renko Chart. We may witness a big rally upto 12200 before October end.
NSE:NIFTY should be bullish in this week. One can go for a long position with a target of 80, 150 & 190 points in 8-10 trading days.
NSE:NIFTY may fall now for 4-5 days. Aim for 9900, 9830.
It is asimple trading technique which can be used on all time frames. The renko brick size can be adjusted by chossing traditional brick size instead of ATR brick method. We can choose the brick size according to our risk appetite for any script. Then by just adding 3 indicators , we can trade on any time frame . for intraday 5min and 15 min works superbly. We...
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
Next bullish wave is forming for NSE:BANKNIFTY on Renko charts. Supertrend & Aroon crossover indicates a perfect time to enter in position on Monday. Although, Renko-Supertrend will give exit signal on their own. But, extrapolation of previous Renko Chart resistance indicates a rally till 27250 level which should be a good exit level.