#banknifty view for 17th Aug'21#banknifty view for 17th Aug'21
Do you see #banknifty weak?
No, trading above SDMA (5/10/20/50/100) and all trend & momentum oscillators are in buy mode.
What do I do, go long or go short? I don't see any weakness in the market until 35,531 is breached. Till that time, its buy-in dips the market for higher targets.
Do I get a shorting opportunity at higher levels? Yes, might be close to 36,760 to 36,983 areas, with an SL for 200 points.
Where do you see major support for BankNifty ? 35,855 - 35,910 / 35,703 / 35,531
Where do you see major resistance for BankNifty ? 36,446 / 36,584 / 36,760 / 36,851 /36,983
DZ:- 36,050
On 4 hour time frame:- 50% & 61% projection is placed at 36,905 & 37,563 which may or may not be achieved.
E.g. One of the important DP is the weekly low, if the weekly low is broken, then only you will be short else you won't.
John Maynard Keynes said, “the markets can remain irrational longer than you can remain solvent.” So be cautious and flexible as market conditions evolve.
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
Regards,
SG
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#banknifty view for 16th Aug'21 #banknifty view for 16th Aug'21
Excellent Weekly Closing above 36,000 at 36,169.35, bulls are in full control.
Do you see #banknifty weak?
No, trading above SDMA (5/10/20/50/100) and all trend & momentum oscillators are in buy mode.
What do I do, go long or go short? I don't see any weakness in the market until 35,531 is breached. Till that time, its buy-in dips the market for higher targets.
Do I get a shorting opportunity at higher levels? Yes, might be close to 36,760 to 36,983 areas, with an SL for 200 points.
Where do you see major support for BankNifty ? 35,937 / 35,703 / 35,531
Where do you see major resistance for BankNifty ? 36,446 / 36,584 / 36,760 / 36,851 /36,983
DZ:- 36,089
On 4 hour time frame:- 50% & 61% projection is placed at 36,905 & 37,563 which may or may not be achieved.
E.g. One of the important DP is the weekly low, if the weekly low is broken, then only you will be short else you won't.
John Maynard Keynes said, “the markets can remain irrational longer than you can remain solvent.” So be cautious and flexible as market conditions evolve.
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
Regards,
SG
#banknifty view for 12th Aug'21 #expiry#banknifty view for 12th Aug'21 #expiry
Do you see #banknifty weak?
No, BN at 35,806 is trading above the majority of SDMA (10/20/50/100) and 5 SDMA is 35,903, and the majority of momentum & trend oscillators are in buy mode.
What do I do, go long or go short? I don't see any weakness in the market until 34,861 is breached. Till that time, its buy-in dips the market for higher targets.
Do I get a shorting opportunity at higher levels? Yes, might be close to 36,600 to 37,900 areas
Where do you see major support for BankNifty ? 35,211 / 35,404 / 35,596
Where do you see major resistance for BankNifty ? 36,372 / 36,631 / 36,891
DZ:- 35,900
On 4 hour time frame:- 50% & 61% projection is placed at 36,905 & 37,563 which may or may not be achieved.
E.g. One of the important DP is the weekly low, if the weekly low is broken, then only you will be short else you won't.
John Maynard Keynes said, “the markets can remain irrational longer than you can remain solvent.” So be cautious and flexible as market conditions evolve.
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
Regards,
SG
Rising Wedge Pattern formingAfter head and shoulder pattern failed to break sell side it is formed rising wedge pattern yesterday. Don't even think about short.Adding short and entering short is risky. RSI and other oscillators showing over sold. but as per my trading experience only pattern work well in this current situation. I calculated Target 16450,16750,17000
Don't add short nifty at this moment.
Do your own research before take trade.good luck.
3 10 Momentum trading with Heikin Ashi Idea consist of EMA 13 offset by 1
Linda 3 10 oscillator
3 10 Trend Signal
Enter Long once Linda 3 10 oscillator signal line (Red Line) crosses above zero from below
Wait for trend signal to turn green
Wait till 2 consecutive heikin ashi bullish candles closes above 13 EMA offset 1
Enter above high of second bullish heikin ashi candle
Trail your sl with13 EMA offset 1
exit as 2 consecutive bearish heikin ashi candles closes below 13 EMA offset 1
VICE VERSA for bearish trades
#banknifty view for 9th Aug to 13th Aug'21#banknifty view for 9th Aug to 13th Aug'21
#banknifty 35,809 weekly closing is strongest after 15th Mar'21 almost after 4 month.
All Daily Moving Averages, Momentum & Trend Oscillators are in buy mode:-
Period Simple
MA5 35517.90 Buy
MA10 35114.54 Buy
MA20 35181.18 Buy
MA50 35133.42 Buy
MA100 34162.39 Buy
MA200 32632.53 Buy
The majority of pivot points are around 34,870.
On technical indicators side, it's a buy until 35,180 holds.
On price action analysis:-
On 4 hour time frame:- Minimum 38% Fibonacci Projection for wave is nearly achieved after break above 35,985. Next 50% & 61% projection is placed at 36,905 & 37,563 which may or may not be achieved.
On 15 min time frame:- We have completed wave 3 and in Wave 4 - Can be anything 35,211 / 35,404 / 35,596, the price might reverse from GAP 35,238 - 35,313 and move up for 36,250 area.
How to trade? Below 34,700 the price might try to fill up the gap & from there you can expect the next up move above 36,000.
E.g. One of the important DP is the weekly low, if the weekly low is broken, then only you will be short else you won't.
John Maynard Keynes said, “the markets can remain irrational longer than you can remain solvent.” So be cautious and flexible as market conditions evolve.
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
Regards,
SG
GRANULES : Eve & Adam Double Bottom1. Since No'20, Price BREAK-OUT can be seen, many times, after CONSOLIDATION that indicates the price will start trending higher .
2. Mid-Term MA (tells that stock is in up-trend) and Resistance level of Eve & Adam DB , are almost at same levels, which indicates strength in stock.
3. About Double Bottom pattern .....
The first bottom of the pattern is just a continuation of the previous downtrend and is a new lower low. The middle peak of the double bottom is an expected retracement after the lower low. However, trouble arises when prices move down from the middle peak and attempt to make yet another lower low for the downtrend. Traders have been able to push prices progressively lower thus far, but when prices fail to fall past the previous low, traders become worried. Once the high of the middle peak is penetrated, the downtrend is considered dead by traders. Prices were unable to make lower lows (making lower lows is one of the definitions of a downtrend) and now since the high of the middle peak (technically a high) has been broken above, now a new high has been created (making a higher high is one of the definitions of an uptrend). Now that the downtrend has been broken and a new uptrend has been created, it is expected that traders will pile onto the new uptrend and prices will move higher.
EA double bottom pattern is the third best performing of the four double bottom patterns with an average rise of 37% after the price breakout confirmation before any retracement of 20% or more occurs.
Identification of Eve & Adam DB:
1. Price trend: Downward leading to the pattern.
2. Shape: Two distinct valleys that look different. Eve bottoms appear first and are wider and more rounded looking. Adam bottoms appear after Eve and are narrow, V-shaped, sometimes with one long price spike. Spikes that appear tend to be more numerous and shorter on Eve bottoms.
3. Peak: The rise between bottoms should measure at least 10%, but allow variations.
4. Bottom price: The price variation between bottoms is small, usually between 0% and 4%. The two valleys should appear to bottom near the same price.
5. Confirmation: The double bottom confirms as a true double bottom once price closes above the peak between the two valleys.
Last but not least - MACD : The Moving Average Convergence/Divergence indicator is a momentum oscillator primarily used to trade trends. Although it is an oscillator, it is not typically used to identify over bought or oversold conditions. It appears on the chart as two lines which oscillate without boundaries. The crossover of the two lines give trading signals similar to a two moving average system. "SHOWS POSITIVE DIVERGENCE"
UCAL FUEL - CMP: 195The stock has given Wedge Pattern breakout on the daily chart. It has also given Rounding bottom breakout on the weekly chart. All oscillators are in positive bios. We can expect an overall pattern target as 270 in the mid-term time frame.
#banknifty analysis for 18th June'2021 #banknifty analysis for 18th June'2021
Deleted the whole chart and recreated it, 35,500 zones will be a hurdle zone, still, I see RRR is in favor of long, Oscillators is already in the oversold zone.
Note:- Majority of pivot points are in 35100 are and 10 & 20 DMA is placed at 35,060 & 35,081 respectively, till we cross 35,100 selling pressure will continue.
100 DMA is at 34,054, this 34K area will act as strong support.
One of the best forms of PA action is not to predict but to act on the price, chart tells you where, when & how to act on price. Wait for the decision points on the chart to act else don't trade.
E.g. One of the important DP is the weekly low, if the weekly low is broken, then only you will short else you won't.
John Maynard Keynes said, “the markets can remain irrational longer than you can remain solvent.” So be cautious and flexible as market conditions evolve.
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
#elliottwave #nse # nifty #banknifty
Regards,
SG.