Search in ideas for "SUPPORTANDRESISTANCE"
Sensex - Expiry day analysis Aug 5We had a choppy market today. Though price moved up, since it was choppy, option buyers did not get the benefit. Right now price is at support zone 81000. If this level is sustained we can expect 300 to 400 points move before price face another resistance.
Buy above 81060 with the stop loss of 80920 for the targets 81160, 81280, 81400, 81520, 81640 and 81800.
Sell below 80760 with the stop loss of 80880 for the targets 80660, 80540, 80400, 80280, 80140 and 80020.
Always do your own analysis before taking any trade.
I sense Positive Consolidation. Nifty May go higherPrice action displayed by nifty today can be considered as positive consolidation. Positive consolidation is where after consolidation price will give a breakout, not breakdown.
Why do i say it is Positive consolidation?
Price action interpretation says that if after breakout, price consolidates within the length of resistance candle, more importantly in upper wick of the candle if its an inverted hammer, then it means that price is not giving up the seller's territory. If price is not giving up seller's territory, then it signifies buyer's strength, thus potentially the trend will be won by buyers,
This is my interpretation. I am though new to the study of this price action. Tomorrow we will see if it works.
Sensex - Expiry day analysis July 29Though the opening was volatile, trend formed and we saw a very nice trending fall today. Neary by resistance is at 81000 zone.
Buy above 81060 with the stop loss of 80920 for the targets 81180, 81300, 81440, 81600, 81720 and 81840.
Sell below 80740 with the stop loss of 80880 for the targets 80620, 80500, 80380, 80240 and 80100.
Always do your own analysis before taking any trade.
Sensex - Expiry day analysis July 22Though price opened with bearish strength, it found support at 81500 zone and bounced up. Now it is testing the resistance at 82300.
Buy above 82350 with the stop loss of 82220 for the targets 82480, 82600, 82740, 82860 and 82980.
Sell below 82080 with the stop loss 82200 for the targets 81940, 81820, 81700, 81600 and 81480.
Always do your own analysis before taking any trade.
Bank Nifty - Weekly reviewPrice is consolidating around the range 56200 - 56400. Unless price shows bullish strength at this range, it is better to wait for the price to sustain above it to go long.
Buy above 56420 with the stop loss of 56320 for the targets 56520, 56660, 56800, 56960 and 57120.
Sell below 56160 with the stop loss of 56260 for the targets 56040, 55940, 55800, 55680 and 55540.
Always do your own analysis before taking any trade.