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Kinetic Engineering Ltd: Trading near multiyear breakout zoneKinetic Engineering Ltd is looking good on longer time frame. Today Company has announced fund raising through preferential issue. This can be a good trigger for expected company growth in future. Generally whenever a company brings preferential issue , price moves well. Recently shared company Riddhi Corporate also bring preferential issue back in Sept'22 and price move well within a period of 1-2 months. Although current scenario is different due to ASM /ESM Measures. But still we can expect good runup based on historical data. Keep on radar for multiyear breakout.
BSE:KINETICENG
by khulvenaveen
Insights(26Sep24):Bearish Bias small gap up or at last close.REDBearish Bias, small gap up or at last close. Red day. Sometime Market repeats the patterns refer Thursday 01-FEB-2018. Open: small gap up or at todays close. Bearish Bias. Should retest yesterdays low, if broken should go further low similar to the pattern on Thursday 01-FEB-2018 with long upper and lower wick. Should end in red. (Inner voice): Hmm... back again without any data points. What's your analysis ? (Me): Its just a probability... 1. Based on my historical data analysis I see a Bearishness tomorrow. 2. My RenkoIndicator shows a sell signal. (Inner voice): Can't trust your RenkoIndicator, it repaints and sometimes the signal just vanishes into thin air. hahaha...What if it just turns out to be a huge gap up and very Bullish ? (Me): Always look at the pre-market and take the final call. Also have strict SL. (Inner voice):Hmm... lets say you are right this time... how do someone take an entry, exit and SL ? (Me): What i do based on the pre market if it aligns with me I enter a buy with say 1 lot on open and may add additional lot if it tests and rejects previous close or open in this case. SL will be previous days High and take profit 1 will be next resistance point as highlighted and so on. (Inner voice): What if SL is too huge... and it turns against you ? (Me): It depends and adjust based on if probability is high and have a strong conviction. (Inner voice): Hmm...How do I trust you ? (Me): Don't trust anyone blindly...Do your own research before jumping in... You are responsible for your trades and loss or profit. This is only my journal I am maintaining for my studies, research and educational purpose. Follow strict stop loss. Do your own research before investing or trading in any stock or indices or crypto. Disclaimer: I am not SEBI registered. This is not a financial, investment or trade advice. You are responsible for your trades. Its only for educational purpose.
NSE:BANKNIFTYShort
by jac001
Banknifty Index Long Levels #InvestingBanknifty Index Long Levels Certainly! The Bank Nifty (BANKNIFTY) is an index that tracks the performance of the banking sector in the Indian stock market. Here are some key points to consider for long-term investment: Bank Nifty ETFs: These exchange-traded funds offer easy diversification, flexibility, and low expense ratios. They can be suitable for long-term investments, potentially providing capital appreciation over time. Historical Performance: Over the last 3 years, the Bank Nifty has given better returns compared to other indices. It has rallied over 42%, while Nifty IT is up 36% and the broader Nifty has gained over 48%. You can access historical data for Bank Nifty to analyze its performance over different time intervals. Remember that investing involves risks, and it’s essential to conduct thorough research, consider your risk tolerance, and consult with a financial advisor before making any investment decisions
NSE:BANKNIFTYLong
by Optionclub
The correction is not over in the crypto market one yet to come Current market indicators suggest a bearish trend for Bitcoin, with technical analysis pointing to a potential correction of approximately 20% from current price levels. Historical Context: Examining the cryptocurrency market's performance over the past seven years reveals a notable seasonal pattern. During summer periods, the market has exhibited a bearish trend in five out of seven years, with only two years showing bullish momentum. This historical data lends credence to the current bearish outlook. Technical Analysis: Both weekly and daily timeframes are displaying bearish chart formations, further reinforcing the likelihood of continued downward price action in the near term. Conclusion: While the current analysis suggests a bearish trend, it's important to note that the cryptocurrency market is known for its volatility. Investors should approach this information as one component of a comprehensive investment strategy and conduct thorough due diligence before making any financial decisions.
BINANCE:BTCUSDShort
by princekumar909728
6
Insights(10Jul24):Bearish Bias small gap up or at last close.REDBearish Bias, small gap up or at last close. Red day. Sometime Market repeats the patterns refer Wednesday 28-FEB-2024. Open: small gap up or at yesterdays close. Bearish Bias. Should retest yesterdays low, if broken should go further low similar to the pattern On Wednesday 28-FEB-2024 . Should end in red. (Inner voice): Hmm... back again without any data points. What's your analysis ? (Me): Its just a probability... 1. Based on my historical data analysis I see a Bearishness today. 2. My RenkoIndicator shows a sell signal. (Inner voice): Can't trust your RenkoIndicator, it repaints and sometimes the signal just vanishes into thin air. hahaha...What if it just turns out to be a huge gap up and very Bullish ? (Me): Always look at the pre-market and take the final call. Also have strict SL. (Inner voice):Hmm... lets say you are right this time... how do someone take an entry, exit and SL ? (Me): What i do based on the pre market if it aligns with me I enter a buy with say 1 lot on open and may add additional lot if it tests and rejects previous close or open in this case. SL will be previous days High and take profit 1 will be next resistance point as highlighted and so on. (Inner voice): What if SL is too huge... and it turns against you ? (Me): It depends and adjust based on if probability is high and have a strong conviction. (Inner voice): Hmm...How do I trust you ? (Me): Don't trust anyone blindly...Do your own research before jumping in... You are responsible for your trades and loss or profit. This is only my journal I am maintaining for my studies, research and educational purpose. Follow strict stop loss. Do your own research before investing or trading in any stock or indices or crypto. Disclaimer: I am not SEBI registered. This is not a financial, investment or trade advice. You are responsible for your trades. Its only for educational purpose.
NSE:BANKNIFTYShort
by jac001
Bitcoin (BTC) technical and fundamental analysisBitcoin's price began to decline at the end of June due to news that the collapsed cryptocurrency exchange Mt. Gox is ready to repay its creditors. Additionally, the crypto market faced pressure from ETF outflows and miner capitulation. As a result, the BTC price formed a technical analysis pattern known as a Double Top. It has reached the first target of our previous overview - the 1H Imbalance zone. Currently, it is retesting the ascending trendline, which will determine the future direction of the price movement. If sellers push through and the price consolidates below the support level, we expect it to drop to the next targets - the 4H and 1D Imbalance zones. There are significant gaps in horizontal trading volume levels that need to be filled with trading activity. In the same range, the 0.61 - 0.78 Fibonacci retracement levels are located, where we anticipate the correction to end if it becomes deeper. For the resumption of growth, the price needs to consolidate above the EMA 50 4H dynamic resistance line and return above the Point of Control (POC) level. In this case, we expect a retest of the descending trendline resistance. 📉 Bitcoin market global analysis On the daily logarithmic chart, Bitcoin's price continues to move within the Expanding Wedge pattern and has also formed a Double Top pattern. If BTC's price breaks below the lower boundary of the Expanding Wedge during the retest, we expect the Double Top pattern to be confirmed with a movement corresponding to its height. The targets of this movement could be the 1D and 1W Imbalance zones, where we will anticipate a trend reversal and the resumption of growth. What could the next growth phase look like? Above the current ATH, there are no resistance levels based on historical data. Therefore, to determine growth targets, we will use trendlines, Fibonacci extension levels, and the analysis of large order block clusters in order books. We have a local ascending trendline that has been relevant since November 2023. Its test could occur at the 75,000 - 76,000 level, which is confirmed by a large block of pending orders. Higher, in the 80,000 - 90,000 range, lies the global trendline built on the peaks of the previous two Bitcoin cycles. Additionally, the 1.38 Fibonacci extension level is located in that area. The highest trendline is in the 1.61 - 1.78 Fibonacci extension range, and its test could start at the 100,000 level. 💠 Analysis of liquidity zones and levels The index of fear and greed is in the fear zone - 44. The total capitalization of the cryptocurrency market fell to $2089 billion, and the Bitcoin dominance index increased to 54.8. According to the analysis of the accumulation of large blocks of orders in the order books, the supply and demand zones are located at the following levels: 🟢 Demand zone: 50,000 - 56,000 🔴 Supply zone: 70,000 - 80,000 Levels for long positions: 55,000 - 57,000 - retest of the trend line and large support block 52,000 - 53,000 - large support block 50,000 - psychological level of support Levels for short positions: 70,000 - psychological resistance level 72,000 - large resistance block 75,000 - large resistance block 90,000 - global trend line 📊 Fundamental analysis Bitcoin's price started to decline in late June on news that the collapsed cryptocurrency exchange Mt. Gox, which failed in 2014, is ready to repay its creditors. If the creditors decide to sell the received bitcoins, their activity could put significant pressure on the cryptocurrency's price. Therefore, many market participants have decided to reduce the share of BTC in their portfolios in anticipation of the upcoming payouts. Outflows from bitcoin funds, which account for over 5% of the cryptocurrency's issuance, are putting pressure on Bitcoin. After the halving, the reward for mining each BTC was halved from 6.25 to 3.125 BTC. With declining income and depreciating savings, many miners are forced to sell accumulated coins, further creating pressure on Bitcoin's price. However, there are also positive expectations: In the next two weeks, a spot ETF on Ethereum may appear. Industry experts are confident that the launch of an Ethereum ETF will have a significant impact on the cryptocurrency market. SEC Chairman Gary Gensler recently stated that Ethereum ETFs are likely to emerge this summer. Due to the growth of the crypto industry in the US, candidates in the 2024 US presidential election are being forced to vie for the votes of the crypto community. Additionally, market participants are anticipating the Federal Reserve's long-awaited move to lower the key interest rate. According to Fed Chairman Jerome Powell, inflation in the US is slowing down. 🌐 Upcoming Events in the Global Economy We expect increased volatility in both stock and cryptocurrency markets on the following dates: ➤ 09.07, 15:30 - Speech by Jerome Powell on the economic situation in the USA. ➤ 11.07, 15:30 - Consumer Inflation Index (CPI) in the USA for June. ➤ July 25, 21:00 - US GDP for the 2nd quarter. ➤ 31.07, 21:00 - New decision on the Fed interest rate. 📈 Statistics of signals from our AI trading indicator: In June 2024, a correction began in the cryptocurrency market after prolonged growth. Our trading indicator, as always, warned about this in advance! And even during the flat period it gave good entry points. Thanks to the latest updates, all 5 signals have become profitable, and the built-in Anti-Flat System prevented losses from manipulative market movements. Total price movement by all signals: +27.03% Maximum price movement: +13.53% Average price movement: +5.4% In addition, I would like to share the forecast of the latest Bitcoin price action by our AI, which not only indicates the direction, but also builds the trajectory of further price movement:
by TradeINEX
1
JBM Auto Ltd. (NSE: JBMA) Stock AnalysisTechnical Analysis Overview Current Price: INR 2,109.20 Volume: 1.143 million shares Price Action and Trend Recent Movement: JBM Auto Ltd. is showing significant bullish momentum, Resistance Breakout: The stock has successfully broken through a key resistance level around INR 2,000, indicating strong upward momentum. Support Levels: The nearest support is identified at INR 1,661.20. Moving Averages Short-term (20-day), Mid-term (50-day), and Long-term (200-day) moving averages are all below the current stock price, confirming a bullish trend. Alignment: The bullish alignment of the moving averages (short-term > mid-term > long-term) supports the continuation of the uptrend. Volume Analysis Volume Spike: A notable increase in trading volume to 1.143 million shares on the latest trading day indicates strong buying interest. Comparison to Historical Volume: The recent volume spike is significantly higher than the average, reflecting increased market participation and investor confidence. Indicators and Signals Bullish Candlestick: The latest candlestick pattern is strongly bullish, reinforcing the positive sentiment. Market Sentiment The market sentiment for JBM Auto Ltd. is predominantly bullish. The breakout above the resistance level, coupled with strong volume support and favorable moving averages, indicates a likely continuation of the upward trend. However, the potential overbought condition signals that a pullback or consolidation phase could occur in the near term. Actionable Insights Long Positions: Investors holding long positions may consider maintaining their positions given the bullish indicators, while monitoring for any signs of pullback. New Entries: Potential investors might look for entry opportunities during any pullbacks or consolidation phases around the support level. Stop-Loss Recommendations: Setting a stop-loss below the support level at INR 1,661.20 is advisable to manage downside risk. Disclaimer This analysis is for informational purposes only and should not be considered financial advice. Trading stocks involves risk, and you should conduct your own research or consult with a financial advisor before making any investment decisions. The analysis is based on current market conditions and historical data, which are subject to change.
NSE:JBMALong
by TRADING-NASA
Sterlite Tech- Is it Going for Another Top..In technical analysis, we examine historical data of an instrument to anticipate its future course of action. We all would agree that Price and volume are the primary and perhaps the purest form of data in technical analysis and that’s why some traders, including me, are always more inclined towards them. In this idea, I would like to share some of my observations on Sterlite Tech. which just caught my attention due to the following reasons. 2018 TOP On the left side of the chart, we had a strong uptrend followed by a top formation. Calling it a double top won’t be a misnomer. Almost a yearlong formation and then a sharp breakdown. 2021 TOP The stock bottoms out in 2020 with an Inverted Head and Shoulders pattern and reverses up back into 2018 top. The stock spends almost 6months in this zone (300) and forms another top here in 2021. BREAKDOWN FAILURE On the right-hand side, we can see a huge consolidation (into the inverted H&S of 2020) from July2022 to Feb2024 and then a breakdown of support (128). But this breakdown could not hold, and the stock is now back above 128, indicating a breakdown failure. ANOTHER TOP Generally, we see a sharp rally after a breakdown failure. If that happens, the stock may rally for 2021 top (260 or so). As per timeline, the previous tops were formed in 2018 and 2021. We may expect another one with a 3years gap, that is by the end of 2024. However, we should never lower our guard and approach cautiously if the stock fails to sustain above 125 again. That would require another take on the stock. I hope you found this analysis useful. Do press 🚀 and comment for more such analysis in future.
NSE:STLTECHLong
by Bravetotrade
2
Insights(15Apr24):Bearish Bias,small gap up or at last close.REDNSE:BANKNIFTY Bearish Bias, small gap up or at last close. Red day. Open: small gap up or at yesterdays close. Bearish Bias. Should retest yesterdays low, if broken should go further low as highlighted. Should end in red. Model Prediction: (Caution: Models hallucinate sometimes): { 'Day': 'Monday', 'Date': '15-APR-2024', 'Gap': 'Up', 'GapChange': '10.0', 'Candle': 'Red', 'Open': 48564, 'High': 48564, 'Low': 48111, 'Close': 48202 } (Inner voice): Hmm... back again without any data points. What's your analysis ? (Me): Its just a probability... 1. Based on my historical data analysis I see a Bearishness today. 2. My RenkoIndicator shows a sell signal. (Inner voice): Can't trust your RenkoIndicator, it repaints and sometimes the signal just vanishes into thin air. hahaha...What if it just turns out to be a huge gap up and very Bullish ? (Me): Always look at the pre-market and take the final call. Also have strict SL. (Inner voice):Hmm... lets say you are right this time... how do someone take an entry, exit and SL ? (Me): What i do based on the pre market if it aligns with me I enter a buy with say 1 lot on open and may add additional lot if it tests and rejects previous close or open in this case. SL will be previous days High and take profit 1 will be next resistance point as highlighted and so on. (Inner voice): What if SL is too huge... and it turns against you ? (Me): It depends and adjust based on if probability is high and have a strong conviction. (Inner voice): Hmm...How do I trust you ? (Me): Don't trust anyone blindly...Do your own research before jumping in... You are responsible for your trades and loss or profit. This is only my journal I am maintaining for my studies, research and educational purpose. Follow strict stop loss. Do your own research before investing or trading in any stock or indices or crypto. Disclaimer: I am not SEBI registered. This is not a financial, investment or trade advice. You are responsible for your trades. Its only for educational purpose.
NSE:BANKNIFTYShort
by jac001
Insights(10APR24):Bearish Bias,small gapup or @ last close. REDNSE:BANKNIFTY Bearish Bias, small gap up or at last close. Red day. Open: small gap up or at yesterdays close. Bearish Bias. Should retest yesterdays low, if broken should go further low as highlighted. Should end in red. Model Prediction: (Caution: Models hallucinate sometimes): { 'Day': 'Wednesday', 'Date': '10-APR-2024', 'Gap': 'Up', 'GapChange': '10.0', 'Candle': 'Red', 'Open': 48730, 'High': 48788.85, 'Low': 48555.05, 'Close': 48708.05 } (Inner voice): Hmm... back again without any data points. What's your analysis ? (Me): Its just a probability... 1. Based on my historical data analysis I see a Bearishness today. 2. My RenkoIndicator shows a sell signal. (Inner voice): Can't trust your RenkoIndicator, it repaints and sometimes the signal just vanishes into thin air. hahaha...What if it just turns out to be a huge gap up and very Bullish ? (Me): Always look at the pre-market and take the final call. Also have strict SL. (Inner voice):Hmm... lets say you are right this time... how do someone take an entry, exit and SL ? (Me): What i do based on the pre market if it aligns with me I enter a buy with say 1 lot on open and may add additional lot if it tests and rejects previous close or open in this case. SL will be previous days High and take profit 1 will be next resistance point as highlighted and so on. (Inner voice): What if SL is too huge... and it turns against you ? (Me): It depends and adjust based on if probability is high and have a strong conviction. (Inner voice): Hmm...How do I trust you ? (Me): Don't trust anyone blindly...Do your own research before jumping in... You are responsible for your trades and loss or profit. This is only my journal I am maintaining for my studies, research and educational purpose. Follow strict stop loss. Do your own research before investing or trading in any stock or indices or crypto. Disclaimer: I am not SEBI registered. This is not a financial, investment or trade advice. You are responsible for your trades. Its only for educational purpose.
NSE:BANKNIFTYShort
by jac001
Insights(9APR24):Bearish Bias,small gap up or at last close. REDNSE:BANKNIFTY Bearish Bias, small gap up or at last close. Red day. Open: small gap up or at yesterdays close. Bearish Bias. Should retest yesterdays low, if broken should go further low as highlighted. Should end in red. Model Prediction: (Caution: Models hallucinate sometimes): { 'Day': 'Tuesday', 'Date': '09-APR-2024', 'Gap': 'Up', 'GapChange': '10.0', 'Candle': 'Red', 'Open': 48581, 'High': 48581, 'Low': 47884.15, 'Close': 47947.05 } (Inner voice): Hmm... back again without any data points. What's your analysis ? (Me): Its just a probability... 1. Based on my historical data analysis I see a Bearishness today. 2. My RenkoIndicator shows a sell signal. (Inner voice): Can't trust your RenkoIndicator, it repaints and sometimes the signal just vanishes into thin air. hahaha...What if it just turns out to be a huge gap up and very Bullish ? (Me): Always look at the pre-market and take the final call. Also have strict SL. (Inner voice):Hmm... lets say you are right this time... how do someone take an entry, exit and SL ? (Me): What i do based on the pre market if it aligns with me I enter a buy with say 1 lot on open and may add additional lot if it tests and rejects previous close or open in this case. SL will be previous days High and take profit 1 will be next resistance point as highlighted and so on. (Inner voice): What if SL is too huge... and it turns against you ? (Me): It depends and adjust based on if probability is high and have a strong conviction. (Inner voice): Hmm...How do I trust you ? (Me): Don't trust anyone blindly...Do your own research before jumping in... You are responsible for your trades and loss or profit. This is only my journal I am maintaining for my studies, research and educational purpose. Follow strict stop loss. Do your own research before investing or trading in any stock or indices or crypto. Disclaimer: I am not SEBI registered. This is not a financial, investment or trade advice. You are responsible for your trades. Its only for educational purpose.
NSE:BANKNIFTYShort
by jac001
2
Insights(21Mar24):Bearish Bias, small gap up or at today's closeNSE:BANKNIFTY Bearish Bias, small gap up or at today's close. Red day. Open: small gap up or at yesterdays close. Bearish Bias. Should retest yesterdays low, if broken should go further low as highlighted. Should end in red. Could be in today's range as highlighted. (Inner voice): Hmm... back again without any data points. What's your analysis ? (Me): Its just a probability... 1. Based on my historical data analysis I see a Bearishness today. 2. My RenkoIndicator shows a sell signal. (Inner voice): Can't trust your RenkoIndicator, it repaints and sometimes the signal just vanishes into thin air. hahaha...What if it just turns out to be a huge gap up and very Bullish ? (Me): Always look at the pre-market and take the final call. Also have strict SL. (Inner voice):Hmm... lets say you are right this time... how do someone take an entry, exit and SL ? (Me): What i do based on the pre market if it aligns with me I enter a buy with say 1 lot on open and may add additional lot if it tests and rejects previous close or open in this case. SL will be previous days High and take profit 1 will be next resistance point as highlighted and so on. (Inner voice): What if SL is too huge... and it turns against you ? (Me): It depends and adjust based on if probability is high and have a strong conviction. (Inner voice): Hmm...How do I trust you ? (Me): Don't trust anyone blindly...Do your own research before jumping in... You are responsible for your trades and loss or profit. This is only my journal I am maintaining for my studies, research and educational purpose. Follow strict stop loss. Do your own research before investing or trading in any stock or indices or crypto. Disclaimer: I am not SEBI registered. This is not a financial, investment or trade advice. You are responsible for your trades. Its only for educational purpose.
NSE:BANKNIFTYShort
by jac001
Insights(13Mar24):Supper Bullish Bias, small gap up or @ Close GNSE:BANKNIFTY Supper Bullish Bias, small gap up or at yesterdays close. Green day. Open: small gap up or at yesterdays close. Supper Bullish Bias. Should retest yesterdays Close, if broken should go further to retest low as highlighted. Should end in Green. Could be in yesterdays range as highlighted. Should retest yesterdays High if broken could see further high. (Inner voice): Hmm... back again without any data points. What's your analysis ? (Me): Its just a probability... 1. Based on my historical data analysis I see a Supper Bullish today. (Inner voice): Can't trust your RenkoIndicator, it repaints and sometimes the signal just vanishes into thin air. hahaha...What if it just turns out to be a huge gap down and very Bearish? (Me): Always look at the pre-market and take the final call. Also have strict SL. (Inner voice):Hmm... lets say you are right this time... how do someone take an entry, exit and SL ? (Me): What i do based on the pre market if it aligns with me I enter a buy with say 1 lot on open and may add additional lot if it tests and rejects previous close or open in this case. SL will be previous days Low and take profit 1 will be next resistance point as highlighted and so on. (Inner voice): What if SL is too huge... and it turns against you ? (Me): It depends and adjust based on if probability is high and have a strong conviction. (Inner voice): Hmm...How do I trust you ? (Me): Don't trust anyone blindly...Do your own research before jumping in... You are responsible for your trades and loss or profit. This is only my journal I am maintaining for my studies, research and educational purpose. Follow strict stop loss. Do your own research before investing or trading in any stock or indices or crypto. Disclaimer: I am not SEBI registered. This is not a financial, investment or trade advice. You are responsible for your trades. Its only for educational purpose.
NSE:BANKNIFTYLong
by jac001
Insights(12Mar2024):Bearish Bias, small gap up or @ yesterdays CNSE:NIFTY Bearish Bias, small gap up or at yesterdays close. Red day. Open: small gap up or at yesterdays close. Bearish Bias. Should retest yesterdays low, if broken should go further low as highlighted. Should end in red. Could be in yesterdays range as highlighted. If the lower support is broken could further fall. (Inner voice): Hmm... back again without any data points. What's your analysis ? (Me): Its just a probability... 1. Based on my historical data analysis I see a Bearishness today. 2. My RenkoIndicator shows a sell signal. (Inner voice): Can't trust your RenkoIndicator, it repaints and sometimes the signal just vanishes into thin air. hahaha...What if it just turns out to be a huge gap up and very Bullish ? (Me): Always look at the pre-market and take the final call. Also have strict SL. (Inner voice):Hmm... lets say you are right this time... how do someone take an entry, exit and SL ? (Me): What i do based on the pre market if it aligns with me I enter a buy with say 1 lot on open and may add additional lot if it tests and rejects previous close or open in this case. SL will be previous days High and take profit 1 will be next resistance point as highlighted and so on. (Inner voice): What if SL is too huge... and it turns against you ? (Me): It depends and adjust based on if probability is high and have a strong conviction. (Inner voice): Hmm...How do I trust you ? (Me): Don't trust anyone blindly...Do your own research before jumping in... You are responsible for your trades and loss or profit. This is only my journal I am maintaining for my studies, research and educational purpose. Follow strict stop loss. Do your own research before investing or trading in any stock or indices or crypto. Disclaimer: I am not SEBI registered. This is not a financial, investment or trade advice. You are responsible for your trades. Its only for educational purpose.
NSE:NIFTYShort
by jac001
Insights: Bearish Bias, small gap up or at yesterdays close. RedNSE:BANKNIFTY Bearish Bias, small gap up or at yesterdays close. Red day. Open: small gap up or at yesterdays close. Bearish Bias. Should retest yesterdays low, if broken should go further low as highlighted. Should end in red. Could be in yesterdays range as highlighted. If the lower trendline support is broken could further fall. (Inner voice): Hmm... back again without any data points. What's your analysis ? (Me): Its just a probability... 1. Based on my historical data analysis I see a Bearishness today. 2. My RenkoIndicator shows a sell signal. (Inner voice): Can't trust your RenkoIndicator, it repaints and sometimes the signal just vanishes into thin air. hahaha...What if it just turns out to be a huge gap up and very Bullish ? (Me): Always look at the pre-market and take the final call. Also have strict SL. (Inner voice):Hmm... lets say you are right this time... how do someone take an entry, exit and SL ? (Me): What i do based on the pre market if it aligns with me I enter a buy with say 1 lot on open and may add additional lot if it tests and rejects previous close or open in this case. SL will be previous days High and take profit 1 will be next resistance point as highlighted and so on. (Inner voice): What if SL is too huge... and it turns against you ? (Me): It depends and adjust based on if probability is high and have a strong conviction. (Inner voice): Hmm...How do I trust you ? (Me): Don't trust anyone blindly...Do your own research before jumping in... You are responsible for your trades and loss or profit. This is only my journal I am maintaining for my studies, research and educational purpose. Follow strict stop loss. Do your own research before investing or trading in any stock or indices or crypto. Disclaimer: I am not SEBI registered. This is not a financial, investment or trade advice. You are responsible for your trades. Its only for educational purpose.
NSE:BANKNIFTYShort
by jac001