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Today we are sharing banknifty possible Elliott wave counts along with invalidation levels and along with alternate wave counts, which can be overall road map for next moves expected further, in both current and alternate counts banknifty is looking good short candidate but only after some rally it means it looks like sell...
Falcon Analytics Outlook Nifty 50 for the Expiry week ( Jun 20 – June 24 )
Last Weekly Nifty witness selling pressure below 16057 , while the pivot for the week @ 16327 was not breached on upside.
Technically for this week on the daily charts we see minor support on the downside for Nifty50 index lies at 15185 levels,
whereas minor resistance on the upside...
T- 102/96/87
SL : 121
Timeframe : 30-45 days
Reason : Global oil is trading above 110 while domestic price has been kept relatively low. Retailer is on negative side while producer RIL is on positive side of the story.
Bank nifty had broken all the previous supports today and is expected to continue its down trend. As bank nifty is overly sold, a pull back rally can be expected before it continues its down trend. Currently, Bank Nifty is sell on rise mode and one can expect a reversal from the marked harmonic level.
So for tomorrow there is a simple Strategy.
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If Nifty cross 15680, we will buy 15700 CE for 40 points.
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If Nifty goes below 15620, then you should go for PE.
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If Nifty give gap down below 15620, then you should go for call option once it goes above 15620.
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If Nifty give Gapup Opening then buy on dip strategy will apply.
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If Nifty Cross 14560 Buy CE of 14700.
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If Nifty goes down below 14360, go For PE.
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If Nifty gives Gap up opening then you can buy on dip till till the 14360.
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If Nifty gives gap down Opening then you can sell on rise till 14560.
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You can give your feedback in comment box.
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As you see in the chart, Market is recovering on daily basis and give closing above the previous low.
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So for Monday simple Strategy. If Market goes down below 14450, we will buy PE.
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If Market goes up above 14700, we will buy CE.
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If Market give gap up opening, we sell after correction.
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If Market give gap down, we buy after correction.
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You can give your...
Nifty Crashed more than 600 points today before settling at 13328. More Downside will come till 12600-12800 if it breaks the upper trendline. Be cautious! Book your Profits. Any Upside will be Sell on Rise on Nifty as well as Bank Nifty.
HDFC Bank posted good results. The Primary trend being down, I'm looking at the shorting opportunity when price rally upon a good result.
Entry: 950-960 ( Resistance - Wait for price to take a resistance - use 30 minutes or hourly to for conformation)
Stop-loss: 990 ( Previous Swing High)
Target: 1:5 ( 800 )
Don't Jump The Gun at 9:15. Our patience will...
BankNifty seen major sell off in last day of the previous week wiping out 660 points in intraday. On daily scale it has formed double top kind of pattern and has given breakout below its neckline of 30223. Theoretically it can test 28525 which is height of "M" and 100% retracement of the pre-election rally. Due to the heavy correction it might see a pullback...
