BANKNIFTY - 15 MIN - FOR 15/03/2022 TRADE SETUPHello Traders,
TODAY BANKNIFTY broken the 35000 level and NIFTY also broken the 16800 level ---- > Both are very important levels.
Today BANKNIFTY broken the PREVIOUS WEEK HIGH but faced RESISTANCE a little bit and market closed below it with a BULLISH PINBAR candlestick pattern.
**** This indicates a strong Buying pressure in the market. ****
1) If BANKNIFTY Break & retest the PREVIOUS WEEK HIGH ( 35375 ) we can go LONG.
TARGET ----> 35600 , 35800 ....
2) If BANKNIFTY faced RESISTANCE at PREVIOUS WEEK HIGH and only if the 35000 level breaks we can go SHORT.
TARGET ----> 34625 ( PREV DAY LOW ) , 34360.
IMPORTANT LEVELS --------> 34625 ---- 35375 ---- 35600 ---- 35800.
Do comment your thoughts ...
Thank you <3.
Search in ideas for "CANDLESTICK"
Jubilant FoodWorks - Bullish Piercing Candlestick Pattern formedCheckout how Bullish Piercing Candlestick pattern works -
One example of Trade with such pattern -
The analysis is done on weekly TF hence price may take few weeks to few months in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock markets with simple trade setups. Feel Free to comment below this or connect with me for any query or suggestion regarding this stock or Price Action Analysis.
Positional or Longterm Opportunity in Lal Path LabGo Long above 2699.1 for Targets of 3134.8, 3570.5, and 4006.2 with SL 2263.4
Reasons to go Long :
1. On a Weekly timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.618 Fibonacci level.
2. In addition to this a bullish candlestick pattern Bullish Engulfing (marked with orange color) is formed around 0.618 Fibonacci level.
3. In addition to this there is a strong demand zone (marked with purple color), from which the stock initially faced resistance but now is taking support and moving up.
Positional or Longterm Opportunity in SBI CardGo Long above 816.55 for Targets of 920.85, 1025.15, and 1129.45 with SL 712.25
Reasons to go Long :
1. On a Weekly timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.618 Fibonacci level.
2. Also a bullish candlestick pattern Bullish Engulfing (marked with orange color) is formed around 0.618 Fibonacci level.
3. In addition to this there is a strong demand zone (marked with purple color), from which the stock initially faced resistance but now is taking support and moving up.
Positional or Longterm Opportunity in Alkem LabGo Long above 3389.9 for Targets of 3671.95, and 3954 with SL 3107.85
Reasons to go Long :
1. On a Weekly timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.382 Fibonacci level.
2. In addition to this a bullish candlestick pattern Bullish Engulfing (marked with orange color) is formed around 0.382 Fibonacci level.
3. In addition to this there is a strong demand zone (marked with purple color), from which the stock initially faced resistance but now is taking support and moving up.
Positional or Longterm Opportunity in GlenmarkGo Long above 456.85 for Targets of 499.6, 542.35, 585.1, 627.85 and 670.6 with SL 414.1
Reasons to go Long :
1. On a Weekly timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.5 Fibonacci level.
2. In addition to this a bullish candlestick pattern Bullish Engulfing (marked with orange color) is formed around 0.5 Fibonacci level.
3. In addition to this there is a strong support zone (marked with purple color), from which the stock is taking support and moving up.
HDFC bank simple candlestick patternHdfc bank on a daily timeframe has formed a bullish engulfing pattern with volume confirmation.
It is the basic candlestick pattern with shows the reversal in trend.
Support:- 1300(round number)
resistance:- 1327, 1357
The pattern is bullish.
Trade only when the price sustains above 1327.
Positional Opportunity in Garware TechnicalGo Long above 3000.1 for Targets of 3297.55, and 3595 with SL 2702.65
Reasons to go Long :
1. On a Weekly timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.382 Fibonacci level.
2. Also a bullish candlestick pattern Bullish Hammer (marked with orange color) is formed around 0.382 Fibonacci level.
3. In addition to this there is a strong demand zone (marked with purple color), from which the stock initially faced resistance but now is taking support and moving up.
Positional or Longterm Opportunity in Dhanuka AgritechGo Long above 740.1 for Targets of 817.45, 894.8 and 972.15 with SL 662.75
Reasons to go Long :
1. On a Weekly timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0. Fibonacci level.
2. Also a bullish candlestick pattern Bullish Hammer (marked with orange color) is formed around 0.5 Fibonacci level.
3. In addition to this there is a strong support zone (marked with purple color), from which the stock is taking support and moving up.
Swing Opportunity in Sun PharmaGo Long above 837.05 for Targets of 859.1, and 881.15 with SL 815
Reasons to go Long :
1. On a Daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.5 Fibonacci level.
2. In addition to this a bullish candlestick pattern Bullish Engulfing (marked with orange color) is formed around 0.5 Fibonacci level.
3. Also there is a strong Trendline (marked with green color), from which the stock is taking support and moving up.
Swing Opportunity in NTPCGo Long above 132.6 for Targets of 137.3, and 142 with SL 127.9
Reasons to go Long :
1. On a Daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.618 Fibonacci level.
2. Also a bullish candlestick pattern Bullish Hammer (marked with orange color) is formed around 0.618 Fibonacci level.
3. In addition to this there is a strong demand zone (marked with purple color), from which the stock initially faced resistance but now is taking support and moving up.
4. In addition to this there is a gap that is yet to be filled.
5. There is a trendline (marked with red color), which is providing resistance to the stock so we have placed our final target just below it.
Positional or Longterm Opportunity in Quess CorpGo Long above 656.9 for Targets of 755.8, 854.7, and 953.6 with SL 558
Reasons to go Long :
1. On a Monthly timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.5 Fibonacci level.
2. Also a bullish candlestick pattern Bullish Hammer (marked with orange color) is formed around 0.5 Fibonacci level.
3. In addition to this there is a strong demand zone (marked with purple color), from which the stock initially faced resistance but now is taking support and moving up.
Positional or Longterm Opportunity in Hdfc LifeGo Long above 597.6 for Targets of 643.6, 689.6, and 735.6 with SL 551.6
Reasons to go Long :
1. On a Weekly timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.5 Fibonacci level.
2. Also a bullish candlestick pattern Bullish Hammer (marked with orange color) is formed around 0.5 Fibonacci level.
3. Also there is a strong demand zone (marked with purple color), from which the stock initially faced resistance but now is taking support and moving up.
Positional or Longterm Opportunity in HdfcGo Long above 2451.1 for Targets of 2615.35, 2779.6, and 2943.85 with SL 2286.85
Reasons to go Long :
1. On a Weekly timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.5 Fibonacci level.
2. Also a bullish candlestick pattern Bullish Hammer (marked with orange color) is formed around 0.5 Fibonacci level.
3. Also there is a strong demand zone (marked with purple color), from which the stock initially faced resistance but now is taking support and moving up.
Positional or Longterm Opportunity in AbbottGo Long above 16900.1 for Targets of 18286.2, 19672.3, and 22444.5 with SL 15514
Reasons to go Long :
1. On a Weekly timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.382 Fibonacci level.
2. In addition to this a bullish candlestick pattern Bullish Engulfing (marked with orange color) is formed around 0.5 Fibonacci level.
3. Also there is a strong Trendline (marked with green color), from which the stock is taking support and moving up.
Swing Opportunity in Gland PharmaGo Long above 3450.1 for Targets of 3633.7, and 3817.3 with SL 3266.5
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.382 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.382 Fibonacci level.
3. Also a bullish candlestick pattern Bullish Engulfing (marked with orange color) is formed around 0.382 Fibonacci level.
4. Also there is a strong demand zone (marked with purple color), from which the stock initially faced resistance but now is taking support and moving up.
5. There is a trendline (marked with red color), which is providing resistance to the stock so we have placed our final target just below it.
Swing Opportunity in VoltasGo Long above 1204.55 for Targets of 1259.55, and 1314.55 with SL 1149.55
Reasons to go Long :
1. On a Daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.5 Fibonacci level.
2. Also a bullish candlestick pattern Bullish Harami (marked with orange color) is formed around 0.5 Fibonacci level.
3. Also there is a strong support zone (marked with purple color), from which the stock is taking support and moving up.
4. In addition to this there is a gap (marked with blue color) that is yet to be filled.
Positional or Longterm Opportunity in CastrolGo Long above 126.3 for Targets of 139.65, 153, and 166.35 with SL 112.95
Reasons to go Long :
1. On a Weekly timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.618 Fibonacci level.
2. Also a bullish candlestick pattern Bullish Hammer (marked with orange color) is formed around 0.618 Fibonacci level.
3. In addition to this the stock gave Trendline breakout on a monthly timeframe & is retesting the same Trendline.
4. There is a trendline (marked with red color), which is providing resistance to the stock so we have placed our final target just below it.
Positional or Longterm Opportunity in Aegis LogisticsGo Long above 229.05 for Targets of 246.4, 263.75, 281.1, 298.45, 315.8, and 333.15 with SL 211.7
Reasons to go Long :
1. On a Weekly timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.618 Fibonacci level.
2. Also a bullish candlestick pattern Bullish Harami (marked with orange color) is formed around 0.618 Fibonacci level.
3. Also there is a strong demand zone (marked with purple color), from which the stock initially faced resistance but now is taking support and moving up.