Resistances
nifty 30 mins elliott wave count updatenifty 30 mins elliott wave count update
#nifty have been making corrective waves inside a range from last 2 weeks.
MCDOWELL_N Long MCDOWELL_N Long CMP 912
stop around 850
Channel Breakout can add long for good bet in
Nifty Today: “A Confident Close” - 09 Feb’22
Nifty View: The recent bounce back extends further, with the benchmark Nifty index gaining more than 200 points in today's trading session. The intraday charts are improving as the index now deals with the immediate resistance zone of 17,450-17,550. Support from the Banking and Auto sector continues. From now on, the most critical aspect for the rest of this week will be whether it will be able to break out above 17,550 and move back into a short-term uptrend or not. A failure to do so, will bring back selling pressure in the overall market next week. We should not forget that based on the daily timeframe, the underlying trend is still weak, and many sectoral indices are also in a downtrend. So one should not be aggressively bullish in this market condition.
Thank you for following my work and please feel free to share your thoughts and suggestions.
Trade Well. Trade Wise.
Dollar Bullish above 508Strict 5% SL
and 5% targets. Trailing must
Broke a resistance of 500 with good volumes.
A Tutorial on Support and Resistance - Part 1.A Tutorial on Support and Resistance - Part 1.
What are Support and Resistance ?
Support - Is the price level from where people expect maximum buying/demand to come.
1. Price is falling and it is expected to reverse and move up from Support.
2. Support level is always below current price level.
3. Is used to create buying positions or book profits in shorts.
Resistance - Is the price level from where people expect maximum selling/supply to come.
1. Price is rising and it is expected to reverse and move down from resistance.
2. Resistance level is always above current price level.
3. Is used to book profits in long positions or create shorts.
Other parts to be followed -
Part 2 - Why Support and Resistances are formed ? or Why they work ?
Part 3 - How to find/draw Support and Resistance ?
part 4 - How to trade using Support and Resistance ?
SHRIRAM TRANSPORT- All time high 1625, wait for break to buy.SHRIRAM TRANSPORT- All time high is 1625, wait for break above it and then either stall above it or weak pullback to buy. 1625 is a major resistance, supply is expected from this level. Sell near resistance and buy near support.
This 1550 zone should be used to book profit, not to go long or short.
By buying here one may win this time but buying below resistance is a definite loosing strategy, one will lose over many trades.
IBULHSGFIN TRADE SETUP FOR MONDAY (4th October)IBULHSGFIN share tested multiple 236 level, 236 is a strong resistance level.
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Once the stock goes above 236, you can buy this trade on Monday.
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Short term target is 248-250.
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What's your view on this comment below in the box.
Mahindra & Mahindra Bullish Flag Breakout M&MBullish Flag breakout in M&M after six months consolidation on monthly chart & on weekly chart as well.
Auto index also gave breakout and looks bullish on daily chart.
Resistance levels to watch is 822, 850.
INTRADAY / swing tradenearly rejected three times from resitance
forming kindoff head and shoulder pattern breaking resistance and sustain can give us decent move keep SL
Educational idea
RETEST & Continuationbroke multiyear resistance and moved well
now after some healthy correction bounce back from S&R level
looking good for a really good upmove keep an eye
Educational purpose only
Zomato Looks good Above 139Zomato has been trying to cross the 140 level since August.
The only parameter that is not supporting is the Volumes
It has been testing multiple times 139 level
Also, it is above 200 MA
Overall looks good on 15TF
Target: 141
NIFTY'S GANN VIBRATION ANALYSIS (CAUSE & EFFECT)Gann square resistance for Nifty are 15,876 (126^2) while support level is 15,625 (125^2). Nifty has not closed below this support since June 1 and has found it very difficult to stay above its resistance for more than a day or two in the Daily time frame.
Cause & Effect Analysis
The most important event to identify is the cause, aka support level from where Nifty's future movements can be anticipated well in advance. Recently, this cause is the Jan 29th low of 13,596.75. From here, we can identify the levels of price and time supports/resistances for Nifty in Daily tile frame.
Nifty broke its main support on 3/24 and has not been able to climb above it since. Secondary support was tested several times in April before Nifty closed above it and rallied to 15,900+ highs in June & July. However, we can see Nifty back test this secondary support since the high of 7/15.
If this secondary support, which stands at 15,680 is broken conclusively this week, the tertiary support is all the way down below 14,000 in the Day time frame. Nifty is in danger of a trend reversal if it cannot break above 15,900 this week or the next.
Will Adani Ports break the level to fly to glory?Hello traders,
take a look at this chart of adani ports.
Adani Ports has been consolidating in a ascending triangle for 2 months and gave BO at 23rd Nov.
also breakout from the purple trendline and the first yellow resistance.
let's see if this breaks the 2nd resistance at 420-421 levels and if this breaks then will give a big move.
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Aniket.
ALBERT DEVIDPRICE IS KEEP ON TRYING TO BREAK THIS SIGNIFICANT LEVEL..BUT FAILS EACH TIME..IF IT BREAKS THIS LEVEL AND MAKES THAT LEVEL AS SUPPORT THEN GOOD UPSIDE MOVE WILL COME..FOR A LEARNER ITS A GOOD OBSERVATION
Colpal from 30 may 2021The stock has given breakout then --> retest done not much volume but still
small long position can be taken
GBPUSD long/buyPrice first acted as resistance and broke through it and retested as a support which is a typical textbook trade. Moreover the sma's are indicating that the trend is bullish on the higher timeframe.
TAMO- Tata Motors in excellent uptrend, likely targets 448-54826-May-21
NSE:TATAMOTORS
Stock in excellent uptrend, but faces lots of hurdles ahead
Pro's
Strong uptrend, and consolidating.
New 52w Hi, Plus Hight and tight consolidation indicates likely upmove soon
Likely Targets: 432-448, 548-564
Cons
Overall upmove likely to face multiple resistances ahead.
Consolidation ahead could be likely long drawn, choppy, yet healthy between 300 to 430 range
Below 281, likely targets 236 to 200.
Sustaining below 200 may weaken it furthur
