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Nifty InstaView 05 May’21: And now an Inside Bar

Nifty View: Benchmark Nifty traded within yesterday’s high-low range to end as an “Inside Bar” in today’s session. Though restricted within a narrow range, still we noticed some degree of intra-day volatility. The underlying short term trend though DOWN is attempting a reversal on the upside. A break above yesterday’s high of 14,765 is likely to infuse fresh buying impetus. A slip below the short term support of 14,460 will set fresh pessimism in the over all market. Get ready for a move soon.      
 Thank you for following my work and please feel free to share your thoughts and suggestions.         
Trade Well. Trade Wise. 
NSE:NIFTY1!
by Abhijit_Paul
CADILAHC: Inside Bar + Descending Triangle CADILAHC on the daily time frame has created an interesting setup. As per my 3 Rivers System, the stock is in an UP trend and has entered the lower edge of the River. Herein strong supports from (410-415) kicks in which has earlier worked as a strong source of support & resistance. Essentially the stock is at valid supports. Now add on two more elements - an Inside Bar and a perfect Descending Triangle. Short term momentum has been oversold with drop in volatility. And yes the stock has been bouncing off from its intra-day lows. When I combine all these elements, it raises a higher possibility of an upside breakout. A close above (425-426) confirms this which should ideally kick in fresh buying impetus. On the flip side a break below 410 definitely negates this possibility. Trade Well. Trade Wise.
CLong
by Abhijit_Paul
2
GODREJCP - INSIDE BAR PPATTERN#GODREJCP - FORMED AN INSIDE BAR PATTERN IN DAILY - MOVING IN A NARROW RANGE - TOOK RESISTANCE FROM 100EMA INDICATORS ARE NEUTRAL. BUY ABOVE THE TRENDLINE SL 688 TGTS 705/710/ 715.5/ 721 SELL BELOW 688 SL 698 TGTS 685/ 674/ 669 KEEP AN EYE!! NOTE - BREAKOUT HAS TO HAPPEN WITH MORE THAN AVERAGE VOLUME AND THE FOLLOWUP CANDLE MUST SHOW CONVICTION!! ***Always keep buffer with target and SL level ***in case of GAP opening, the given levels become invalid. ***this is my personal view. Please take advice from your financial advisor before investing.
NSE:GODREJCP
by Garey_Singh
POWER GRID CORP. - Inside Bar PatternPOWER GRID CORP. #POWERGRID has formed a Symmetrical Triangle Pattern and has also formed an Inside-Bar Pattern in Daily. RSI is above 60-level and Is BULLISH. TT2 Trend is Bullish in Daily. Above 179.35, the next resistance is 183/186.80. The Support is 175. Below 175, the next Support is 173.35/170.70 . The resistance is 179.35. KEEP AN EYE!! ***in case of GAP opening, the given levels become invalid. ***this is my personal view. Please take advice from your financial advisor before investing.
NSE:POWERGRID
by Garey_Singh
2
NCC LTD. - Inside Bar PatternNCC LTD. #NCC is trading in an INSIDE BAR PATTERN on 30mins chart. For the upper breakout, the price needs to close above 31.25. The next resistance is 32.70/33.30. Keep 30.50 as a support. For the lower break-down, the price needs to close below 30.30, the next support is 29.30/28.85/28.10. The Resistance is 31.00 on 30mins chart. RSI is above 50-level and is BULLISH. TT2 trend is BULLISH in 30mins. KEEP AN EYE!! ***in case of GAP opening, the given levels become invalid. ***this is my personal view. Please take advice from your financial advisor before investing.
NSE:NCC
by Garey_Singh