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Bank Nifty- Finally breaches 200EMA with a bullish candleBank nifty broke above 200EMA witha strong bullish candle and clsoed above it. FII 575cr and DII 1741cr strong buying support finally propelled bank nifty above 200EMA. Question is whether FIIs will continue to buy and will it sustain above 200EMA. The PCR at 0.97 is certainly encouraging sign from option writers who have a more balanced view (rather than a bearish view on bank nifty thus far). Vix at 16.225 has dropped by 2% on 31st which should encourage investment from FIIs. Nifty has shown appreciable strength as well. Should the momentum carry we could see 100EMA as the next major resistance as 200EMA will act as a major support from here on. Let us see how markets open on monday.
NSE:BANKNIFTYLong
by PromodSshrivastava
1:3.5 Risk Reward opportunity on HINDUNILVRThis is my first ever trade idea. I have been a fundamental stock analyzer for the most part of my time. I am also someone who doesn't fare well with intraday trading and prefer swing over intraday. I am not a registered financial advisor so please consult your advisor before investing. I am just here to share my bit of understanding and analysis with you and if this trade helps you achieve something, I would be very happy for your success. As per my analysis, there is a strong Buy on HINDUNILVR between 2170-2215 from the support zone. From the price action and MACD, I can infer that we will probably retest the interim support at 2215 and may bounce. However, in case of further downward movement, there is strong channel support at 2170. Keep a strict SL of 2140. My Trade on Futures: Buy from 2215 (+1 lot) Add more at 2170 (+1 lot) Long Position Average: 2193 (for 2 lots) Stop Loss: 2140 (-53 points) Targets: 2385 (192 points), 2450 (257 points), Open (Please book your profit on the first target itself or trail your SL to 2300). Risk Reward: 1:3.5 Return on Capital Investment: 2,48,684 Max Loss: 31,800 (12.6%) Profit on the first target: 1,15,200 (46.3%) Fundamental Analysis As per the financials of the company, the reserves have increased dramatically in the last quarter (Sep 2020), plus the FIIs have increased their shareholding. In an overall sense, there isn't a negative trigger as of now to break the uptrend channel (of 2170) that started in June 2017. There is a higher probability of success in this trade.
NSE:HINDUNILVRLong
by ShekharChatterjee
12
MARICO LTD : INVESTMENT IDEA (BREAKOUT ON MONTHLY CHART)MARICO LTD : STRONG BREAKOUT ON MONTHLY CHART AND IF SUSTAIN ON MONTHLY CLOSING WOULD BE A STRONG BUY SIGNAL FOR LONG TERM TRADING OPPORTUNITY ( INVESTMNET IDEA). SINCE WEEKLY CHART BREAKOUT IS HAPPENED AND SUSTAINED, SO A BUY MAY BE INITIATED FOR LONG TERM TRADING/INVESTING OPPORTUNITY ON MONTHLY CHARTS. TRADER MUST FOLLOW RULES OF RISK MANAGEMENT i.e. STOP LOSS AND THUS FIX HIS ENTRY POSITION SIZE ACCORDINGLY IN ANY STOCK/INDEX/SCRIPT, SO THAT HIS/HER RISK CAN BE MANAGED AND MINIMIZED.
NSE:MARICO
by trademachine08
NIFTY for 11th NovemberIt is going to be a critical trading day tomorrow. After Moody's rating downgrade already out before our market opening hours in morning, we openned slightly gap down (25 points down) but climbed up soon (thinking that moody's downgrade was misplaced) and then broke Thursday's high briefly, before starting to come down. And it did come down massively. Later came the news that it could have been because of Nomura's report with similar concerns but much poor outlook. Nomura's report pegged India's GDP growth at 4.9%, till date most pessimistic figure of all the figures. On daily chart, Nifty formed an exact evening star pattern which is bearish reversing indicator. But more about it when talk about charts. Let's check our usual data. 1) FII & DII data: Like on 7 previous trading days, FIIs were net Buyers by 932 Crs whereas DIIs were net Sellers by 584 Crs. By figures, FIIs bought a lot but DIIs volume of sale , probably in Nifty stocks was much higher, resulting in 103 point fall in Nifty over previous day's close. With such scary reports, it seems FIIs (at least few of the lot) might rethink their strategy and start selling. But as we have seen in past, DIIs might turn buyers then and therefore I have said in the beginning, it is going to be a critical day tomorrow. 2) Option chain data: On PUT side, we see unwinding on 11900,11950 & 12000 strikes even though total OI at 11900 (12.69 lakhs) is quite near the highest figure seen at 11700 (12.82 lakhs). Observe that highest total OI is now on 11700- Put writers have lost confidence on 11900 and on 11800 also, which is surprising just in one session. On CALL side, we can see confidence of Call writers - highest total OI ( 26 lakhs) and highest fresh Call writing (12 lakhs) both are at 12000. Scaling past 12000 will be tough task in this truncated week. 3) Charts: Nifty finished a strong red candle with much lower high and lower low. It also created evening star pattern which is taken as a reliable bearish reversal pattern. People may say that high made on Friday was higher than thursday's high. But in evening star patterns, gap-down openning and then closing further down is much more important. On Thursday, RSI showed 72.53, which is in overbought region. On friday after fall RSI is now at 64.6. So I have marked selling and buying areas on 15 min chart. Actually, we have a weak selling area and strong buying area, but in current bearish scenario, I am more confident about selling Nifty than buying. But this is my view and traders may please use their own discretion. In such case, strictly use stop loss and secondly, use spread strategies so as to protect us from unnatural opposite swing. All the best. Happy trading.
NSE:NIFTYShort
by protrader1969
1
GBPUSD bullish pattern spottedThe British pound has fallen back under the 1.2700 level against the US dollar in early Thursday trade after bulls failed to break the former key trading high, at 1.2747. However, yesterday’s move higher has helped to create a bullish inverted head and shoulders pattern on the four-hour time frame. All moves lower in the GBPUSD pair are expected to find strong buy dip-buying demand around the 1.2660 support level. The GBPUSD pair is strongly bullish while trading above the 1.2700 level, key resistance is located at the 1.2747 and 1.2800 levels. The GBPUSD pair is only bearish while trading below the 1.2660 level, key intraday support is found at the 1.2645 and 1.2630 levels.
by OctaFX_Official