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Stock of the year at important junctionNSE:ITC after having a splendid run throughout the year is now at a very important junction. It is a fairly visible H&S (Head & Shoulder) in making but breakdown looks like snowball's chance in hell. Hence that means NSE:ITC can be a good reversal candidate but only after strong close above 456 level. That should lead NSE:ITC towards 500 and then further for new highs. Breakout above 456 may look for a inverted H&S or double bottom breakout. Things are difficult for equity market but the course of this war shall be decided in upcoming days when we will know the participating countries and fronts. One can add NSE:ITC at current levels if they have missed the rally throughout as it is holding on its levels, 432-430 shall act as stop loss. A closing below these levels shall trigger the breakdown of the above-mentioned H&S. We have 2 inside bars in last 4 candles which also indicate accumulation at current levels. It will be very exciting to see which way these positions move. If a breakdown takes place then NSE:ITC will move towards 415-420 levels otherwise this trending stock should remain the contender for more upside this year and further.
NSE:ITC
by Abhyuday01
1
Bank nifty intraday levels 27/Sep/23Good Morning Traders. We saw a range bound market in Nifty and BankNifty since two days, Bank nifty has formed a inside Bar pattern on the daily chart. As market is oversold, we can expect a pull back towards 45000-45150 levels. Guy's Hourly chart also showing positive crossover, i think bullish moment is expected in banknifty, but global market is showing bearishness let's see how we are gonna to act, GIFT Nifty also indicating a negative opening. Important levels for Banknifty:- Strong Support Zone 44400 Strong Resistance Zone 45000 Buy above 44757, if levels sustains at least for 15 mints. Targets we can see in upside 44879/44990 Keep stop loss at 44605 Sale below 44605, if levels sustains at least for 15 mints. Target we can see in downside 44516/44415 Keep stop loss at 44757 Note:- Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction. Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou
NSE:BANKNIFTY
by TraderRahulPal
Allcargo - Range Breakoutin weekly chart , stock making a higher high and lower low in parallel channel. in daily chart , price consolidating in inside bar and continuously taking support at 20 ema; and facing resistance at ema 200. Today's moved broken the resistance & hidden triangle pattern with bullish candle , which supported by volume . Price above all key moving average. Thanks -AJ Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading or any other types of advice or recommendations.
NSE:ALLCARGOLong
by Indieconomic
Nifty Bank nifty & Fin nifty important levels.NSE:NIFTY #NIFTY 30 Min chart analysis. Price moving up but with a very low conviction. 19650 will be a make-or-break zone, on the upside look for a strong breakout of 19660. And on the downside reversal 19550 zone should break. In between the range choppy movement is expected. NSE:BANKNIFTY #BANKNIFTY 30 Min chart analysis. Formed an inside bar on the day chart and today it traded in a very tight range. Breakout above 45025 can take prices to the next resistances. In case of downside reversal move break of 44760 is a must. Today Nifty moved up and Banknifty didn’t, so there is divergence in both indices, this must clear before you see a good move on either side. NSE:CNXFINANCE Finnifty rising wedge formation near resistance line. make or break point follow the chart happy trading keep learning
NSE:NIFTY
by SANJAYPATIDAR_