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BANK NIFTY can you handle it ?It is NR7 day for itit has not yet decided to which direction it should move. clearly divergence found in between price and oscillator. so it should come down. Hold on .you must have been taught about divergence . But when an instrument stays there for 4 to 5 bars in over bought condition. on slight decline it bounces back. .Bank nifty going to give decisive move before expiry. probable direction I have mentioned in the chart. don't forget to like this post and follow me to get updates. all my analysis are hitting the targets. Not to mention one many.
NSE:BANKNIFTY
by bijoy2526
BANK NIFTY could not sustain at high level.Bank nifty has retraced 61.8 percent of its decline. now in over bough condition. Intermediate line of pitchfork offering resistance. and divergence is there between price and oscillator. today it failed to sustain above 38550 stochastic is over bought condition but it does not mean it should decline as it has been in over bought condition for the last more than 5 days but here buying appears to be risky after this rally we should wait for bank nifty to sustain above 38550 or take out this resistance line. it has now resistance around 38370 Under these condition it is susceptible to selling for any slight adverse international or national news. please go through my previous published chart of bank nifty and nifty. don't forget to like my post. follow me to get updates
NSE:BANKNIFTY
by bijoy2526
1
NIFTY must regain 20 dma.Following observations I noticed by closely watching the structure of nifty . First time after many days It is detached from 20 dma In last 15 trading days we had only two green candles rest were red candles. After so many days stochiastic is dipping in to oversold condition. If stochiastic cross over takes place in oversold condition we can have nice divergence between price and oscillator. main question here 4 th has already ended or not and 5 th wave has already started or not as after one day green candle we have not got subsequent green candles. 4 th normally corrects 23.6 percent or 38.6 percent of 3 rd wave. It has already corrected 23.6 percent of wave 3 but here we can not say forcibly that it won't correct 38.6 percent as it is not showing follow up buying after one day of green candle. It must close above 20 dma which is at 18063 to prove its strength. Atleast it should regain 17990 to 18020 zone on closing basis. Trading with naked put or call option appears to be little risky I don't expect sideways or consolidation in nifty . I feel market it self will tell in which direction to trade.
NSE:NIFTY
by bijoy2526
4
PNB - possible rectangular breakout incoming! After major decline, long-term accumulation within Rectangular Pattern since March 2020. There has been a significant increase in Volumes since Dec 2020 though. The surge in volumes increases the chances of the stock successfully breaking out of the rectangle, on its 4th attempt. This is further supported by a bullish divergence between the Price and the RSI Oscillator. In case of a successful breakout, no notable resistance till about 55 levels (25% upside margin).
NSE:PNBLong
by Wolf-AD7
1
BANK NIFTY gap provides strong support to itbank nifty fills up the gap which I had mentioned in one of my post. and gap provides strong support to it. stochiastic is in over sold condition and there is divergence between price and oscillator. Hence bank nifty may bounce from here. as such it is premature to assume that it is going to take out all time high. as per me another selling opportunity lies ahead. at present my view is neutral. but one lesson market teaching every body don't follow gap up or gap down.
NSE:BANKNIFTY
by bijoy2526
5
NIFTY may over come the minor resistance and resistance.again NR7 day and inside bar day for nifty and powerful hidden divergence is there between price and oscillator. this time nifty movement seems to be aided by banking stocks and reliance. Reliance had narrow range and it is on the support. most of the banks have narrow range like hdfc,sbi stc. decisive move expected from nifty this time, it may touch 11283 then 11383. don't forget to like my post follow me to get such updates
NSE:NIFTYLong
by bijoy2526
NIFTY faces resistance at the resistance linehow ever hidden divergence can be seen between price and stochastic oscillator. which is positive for its upward movement, with reliance not supporting the market nifty could not take out the resistance. one more move up of reliance expected. infy,tcs may resume upward movement after consolidation. any positive in the Rbi policy may provide the required required fuel for the market to go up. whenever there is a gap up we should not jump in for taking position. and profit booking at higher levels should be done on intraday basis. for positional traders up move still in tact. don't forget to like my post . follow me to get updates
NSE:NIFTYLong
by bijoy2526
SBI - IS THE BOTTOM NEAR?SBI has fallen more than 50% three times in the last 10 years. In order to find a rationale to invest, we have analyzed SBI in different time frames. KEY OBSERVATIONS- 1. Demand Zone - A demand Zone is an area where buyers dominate over sellers, there is massive buying pressure in this zone. SBI is currently in demand zone which is around 160 to 150 levels. This level was held by SBI for the last 10 years. This level was tested during 2012, 2014, and 2016 respectively. SBI has managed to reach this level and is currently trading at 153. This demand zone can be used to our advantage as - The risk is minimal High-profit potential The risk-reward ratio is more. 2. A Fall of more than 50% - SBI had fallen more than 55% on four occasions in the last 12 years. As noticed here, a fall of more than 55% has been seen as a buying opportunity and it could be verified using trend line and demand zone. In 2010, 2014 and 2020, two things were common- There was more than 55% drop in price All these falls made a base around the demand zone, which we are currently in. 3. Bollinger Bands - Bollinger Bands consist of a centerline and 2 price channel (Bands) above and below it. The Center-line is an exponential moving average; the price channels are the standard deviations of the stock being studied. The bands will expand and contract as the price action of an issue becomes volatile (expansion) or becomes bound into a tight trading pattern ( Contraction) When stock prices touch the upper Bollinger Band, the prices are thought to be Over-Bought; conversely, when they continually touch the lower band, prices are thought to be Over-Sold, triggering a buy signal. We have analyzed SBI on a monthly Chart using Bollinger Bands. These yellow arrows indicate Over-Bought and Over-Sold levels respectively and their respective bounce when the hit these levels. Currently, SBI has ventured into the Over-Sold zone as per Bollinger Bands. 4. Positive Divergence - Divergence is when the price of an asset is moving in the opposite direction of a technical Indicator, such as an oscillator. Divergence warns that the current price trend may be weakening and in some cases may lead to the price changing direction. Positive Divergence is a situation where the price of a stock is making new lows while RSI is making higher lows in stock price. From this, we can conclude that the lower lows in the stock price are loosing their downward momentum and trend reversal may follow soon. We have marked Positive Divergence on 4 occasions using the red trend line on the daily chart, where we could notice a good price up-move after price divergence SUMMARY Observing all the above points, we can accumulate SBI in trenches and in the price range of 145 to 135. Targets can be set around 185 to 200 for Mid Term. All our views will be negated if SBI breaks 125. At these current levels, the risk is minimal and it has high-profit potential.
NSE:SBINLong
by EquityPulse
6
GBPAUD TREND MIGHT BE CHANGING!!!We have seen a steep downfall in GBPAUD over some time but it can e the time that bulls take the charge. In the daily charge, it shows that a W pattern may be on the table if price rebounds from here, and also on Friday we have seen a spinning top. What to do?? On Monday, we will be seeing if Monday candle closes in green or red. If, green then we may take a long to the target of 1.96500 with a stop at 1.89751 (A DECENT RISK REWARD RATIO!!!) On the other side, if red candle is seen on the closing then the trend may continue to 1.86789 which is possible too. But, we may see a rebound from here as RSI may rebound from here and also may see divergence on Awesome Oscillator. Also according to the confluence indicator, there are high confluences in this region. So, rebound chances are much high!!!! If you like the analysis then leave a like and follow me for more updates. :)
by ng_forex
TCS - Heading DownTCS is currently testing its support of 2200, and has closed below it today. I use Vix Fix along with On Balance Volume to see the trend. Here the OBV is decreasing while the Vix is increasing - clear indication of Share sliding down. Further confirmation is taken using a setup of Stochastic Momentum and Awesome Oscillator. Stochastic shows the beginning of down trend, further confirmed by the Awesome going Red. First stop from here should be 2130, thats where the support lies, which if broken should 2100 soon. NSE:TCS
NSE:TCSShort
by captainarora
NIFTY EXPIRY,CAN THE BULLS OVERCOME PRESSURE?In daily time frame nifty exhibits a doji followed by red candle(lower low) In four hours time frame divergence seen between price and oscillator. Bank nifty too exhibit a spinning top followed by lower low red candle. Much efforts needed to over come these for bulls. Nifty unable to pass through the trend line shown in the chart. Nifty has immediate support at 11032. Next support of nifty is at 10902-10905 range. If nifty breaks yesterday's low(28/08/2019) much lower levels may be there. Interesting actions may be there in the expiry day.
NSE:NIFTYShort
by bijoy2526