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BANK NIFTY may enter the 40,000 mark soon, with a lot of ease.Bank Nifty looks amazing, as we saw it broke pattern 1 which was a simple channel pattern, As we zoomed in we realized 2nd pattern (marked in purple) which is called the triangle pattern, this pattern has already been rejected two times by sellers in the past(shown in the chart) today Pattern 1 was broken with a huge green candle this shows that buyers are in full strength and we may see a rally very soon this rally can easily break the 40,000 mark. Best of luck to all of you. PS: This post is just for educational purposes, If you have any doubt feel free to reach out.
NSE:BANKNIFTYLong
by Pratik_Barchha
Elgi Equipments on newer highs creating Darvas boxIn the past three months, the stock price of the company has zoomed 110 percent as compared to a 1 percent decline in the S&P BSE Sense Company is expected to give good quarter, Price soars high on this very factor The stock has created a Darvass box pattern it can be considered for a short to medium-term trade, with profit booking in the mind, the stock has soared 34% in 4 days on strong earnings hope, so keeping a stop loss on 371 we Can consider 500 to be the target
NSE:ELGIEQUIPLong
by nandagopan454
HAL a different accumulated patternIn Aug 2020 HAL started moving up with high volumes, within no time HAL Zoomed from 550 levels to 1300+ levels. Within next 2 months stock halved to around 650 levels. Interesting is the volume after the down move, these are abnormally high volumes. This is clear sign of accumulation by Market makers/ Institutional investors. As now one would distribute stock at such high volume compared to volumes since 2018 till Aug 2020. Even for distribution stock has not given huge returns as given by stocks before a normal distribution phase. There is multi fold rise in volumes since Aug 2020. Even after low of 650 after stock reached 1100 levels slowly instead of quick move and consolidated for since Feb 2021. Listing day high was crossed with huge volumes at the end of Aug 20 this was the indication that accumulation was complete. Breaking of previous life high marked will be the trigger for the next bull run All these observations conclude that stock has moved has moved in to strong hands & we can see a new bull run very soon. This is not a accumulation phase as per Wycoff method. But a based on observations above its clearly accumulation phase after Aug 2020 Now currently HAL is trading near previous life high. moving in Narrow range. This narrow range is small stop before next life high. This will be new higher high after breakout.
NSE:HALLong
by varadtambolkar
6
Apollo Tyre 650 ? PossibleWhile I made some money in shorting apollo tyres recently, on a zoomed-out view this looks like a large flag and pole pattern. Two large targets of 400 + and 600+ are visible. Just fyi I am not bullish on auto sector for a while. I hope apollo tyres has something up their sleeve which can pull this out. This is just a chart pattern discussion. Please trade your hard-earned money on advice of a registered stock market expert. I am a newbie trader :)
NSE:APOLLOTYRELong
by DoublebassmaniawithPranav
COAL INDIA LTD, Daily ChartCOAL INDIA LTD. Daily Chart. Has given Breakout of Both Cup-N-Handle Pattern & Head n Shoulder Pattern at Same Time, LOOKS Good to BUY at CMP or in Dips if you get Chance, with StopLoss of 134 Closing Basis. For Targets of 152.80, 165, & then 180. CUP N HANDLE BREAKOUT HEAD & SHOULDER BREAKOUT ZOOMED IN BREAKOUT OVER-ALL TOP VIEW DISCLAIMER : I AM NOT SEBI REGISTERED ANALYST. THESE STUDIES EDUCATIONAL PURPOSE ONLY. CONSULT YOUR FINANCIAL ADVISOR BEFORE TRADING OR INVESTING.
NSE:COALINDIALong
by RK_Chaarts
Bitcoin 1 week outlook 12-29-2020Good morning again ladies and gentlemen and welcome back to my daily look into the best investment since Enron!!! Bitcoin! LOL. But seriously I saw a gold PS5 online this a.m. and Im pretty sure someone reading this bought the gold PS5 (nearly 1 million USD) with your profit. Just step up and admit it. As we all browse Lambos online I am curious to see if we can keep our heads out of the trenches at least til the 2nd of January. 4th of January would be even better as that is the real beginning of the year thanks to everyone taking new years off and new years day as well. So lets take a look at the charts this morning. I decided to take a zoomed out look at the charts. Its nice to do this occasionally even if it doesnt really give you the best info as far as short term pricing we can still walk away with plenty from this weekly chart. Look at the current pump. Its parabolic. Do I love seeing a straight up bull push to the heavens? Oh hell ya! But am I dumb enough to play with fire at these levels? Not so much. Even if we were to break 30k RSI on the weekly time frame is higher than its ever been on a Binance chart. The last time we got to 90+ on the weekly RSI we ultimately saw a 50% drop or even more if you look a bit further down the chart. 2017 was a different rodeo back then. It was my first jump into investing and I caught the pump around 8500 all the way to 20k. We lost a lot of ground really fast. Within weeks people were saying BTC is dead and it was all over. Alts were significantly stronger and the dominance alts held was much higher. Now Bitcoin is ruling the roost as far as dominance. At nearly 70% Bitcoin is remarkably higher than It was in 2018. In fact we dropped to 1/2 where we are now. 35%. Which meant alts controlled 65% of the market as a whole early on in 2018. But as time progressed dominance returned to Bitcoin and now we are back at 70%. Just like we were last ATH back in 2017. I know people are watching for alts to jump and keeping an eye on dominance is a key to this equation if you ask me. This break out was largely fueled by a huge dip back in March where we had some huge buys and volume spiked. People like to buy that dip and that started out trek up the charts. From 3800 we made it to a 2.5 year trend line. After being rejected from it 3 times over the last 2.5 years we finally burst through it at around 10k. Breaking this resistance was key to the bull run. Once we broke it the evidence is clear on the charts. We went parabolic pretty soon after that. I didnt even mention the halving that happened in May of this year. Also another reason for the bullish chart action. It takes months before a halving pump shows its face and this is the 3rd real time that we have seen this happen. I think its safe to say the halvings are pretty reliable. As long as you are patient. Not to mention institutional buyers are getting into the mix. Paypal offering Bitcoin has been a huge deal for the cryptocurrency. We are seeing the results of the perfect storm and after 3 years of getting nowhere near 20k we beat it with relative ease this bulls run. If we do start losing ground the 4hr 50 MA is my first line in the sand. Its been reliable as support over the course of this run only failing a few times . We are currently sitting above the support so until that changes I will remain optimistic. I still dont have the guts to bet against the bulls. But I must remind you there is a big nearly 2000 dollar gap below us. Losing 2k would still leave us above 24k but when people see a drop like that it could trigger a domino knee jerk reaction where fomo is reversed and people wanna sell before they lose all their profit. That is what a stop loss is for folks. Thats why I recommend it. Even if its at 15k. Ive seen Bitcoin lose 50% in hours. Im not saying that it is certainly bound to happen this go round but I wouldnt ignore history. What goes up normally comes down. Stimulus was approved so lets see how Bitcoin takes the news. Right now its 600 USD per citizen (US) but they are fighting for much more. With that in mind I imagine many o USD will be printed or simply created out of thin air. This could fuel Bitcoins rise as inflation of the underlying base currency Bitcoin is naturally compared against makes Bitcoin more valuable as a rule vs the USD which has not 21 million coin limit Im afraid. That is the reason they took us off the gold standard after all. It makes it easier to inflate that USD. Bitcoin has a super bright future. 500 billion dollar market cap. Nothing to shake a stick at folks. I hope you all have a great day and I hope a look at the weekly makes you as proud as I am for sticking it out throughout all those bear months. Make good choices and always remember... WTFDIK?? TLDR: Year is almost over. Bulls are still in charge but Im watching for the bears. I can smell em.
by UnknownUnicorn4304403
A zoomed out perspective of NIFTY After the recent rally and very close to making all time highs ( NIFTY is already at a all time high on closing basis — it's just the first week of the month). The index might face some resistance at current levels, which is a confluence of the Bear Resistance zone on the RSI and the declining bearish divergence trendline. If aggressive buyers manage to surpass this confluence, then price may shoot up aggressively. If sellers dominate at these levels along with some profit booking the price may retrace. As this is a long term chart a retracement on monthly would look like a bearish market on daily charts. This would be an interesting month for Indian markets.
NSE:NIFTY
by santosh_dts
#POLYCAB looks good for 30% medium term returns!NSE:POLYCAB Structure looks quite appealing. - Break above long term down trendline after bouncing back from 200 EMA and halting. - Volume has zoomed 6x above average indicating commitment in the breakout success. - Immediate resistance stands at 930-950 region , above which price may fly on to test the ATH region which will be a decent 30% up move from here. ** Entry can be made immediately or upon retest of the down trendline. Disclaimer: This is just for educational purpose. Investment/Trading carries its own risk of permanent capital erosion and mental drawdown as well. Do consult your financial advisor before getting into any positions. P.S - Likes will be appreciated as well as your insights in the comment section as well. Thank you.
NSE:POLYCABLong
by tradeandtequila
NIFTY forms RSI divergence! Rallies more than 1.5% todayNifty - Technical Analysis: -Nifty logs a gain of 171 points, or 1.52 percent, to settle at 11,449.25 -RIL jumped over 7% -It gaped above 11300 based on recovery in US markets after the selloff a few days back, we can see resistance at 11600 and index would need to cross above resistance zone before seeing upper levels. Market - Driving Factors: -Nearly 100 stocks, including Reliance Industries, Asian Paints, Tata Elxsi, Granules India, Infibeam Avenues, Laurus Labs, Adani Gas and Adani Green Energy, hit their 52-week highs on BSE. -The Indian stock market traded higher, boosted by gains in shares of heavyweights such as Reliance Industries, Axis Bank and Asian Paints. -Nifty Metal fell over a percent while the Pharma index settled flat. Nifty PSU Bank index jumped over 2 percent higher. -RIL zoomed 7% as Reliance Industries' plan to sell a stake in its retail subsidiary at an equity valuation of Rs 4.21 lakh crore and its proposed acquisition of Future Group's retail businesses will solidify RIL's position in India's organised retail market and strengthen its consumer business. Nifty - Outlook for Friday, 11th September: NIFTY has come above the resistance at 11300 and showed strong trend intraday with support of index heavy weights. NIFTY also observed a RSI divergence as RSI makes new high but price didn't which is a bearish signal. We can see index consolidation before a move either side.
NSE:NIFTY
by Algokart
1