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Nifty 50: READY FOR Correction/ Crash!Attached: Nifty 50 Daily Chart as of 7th July 2023 Price has closed below PDL marking the End of the 5 wave rise that makes up either the 3rd Wave or the C Wave In both case, whether it is there 3rd or the C Wave, post completion of a 5 wave impulse be it whatever degree of the wave, there has to be a Retracement at the very least Price has 2 downsides going as per the Retracement: Target 1= 19200 (Gap Area) Target 2= 19030 (Super Trend Support) On further break below 18975, the Downside can accelerate to fill the 3rd Gap @ 18815 Last Line of Support is 18640....
NSE:NIFTYShort
by T_Harth
PostMortem on BankNifty Today & Analysis of 25 MAY 2023 expiryThose who trade banknifty & nifty expiry will be excited to trade bankex & sensex expiry on 26 May 2023. I guess it will be the first expiry to be opened to retail traders ! I just checked the zerodha kite app, the option chain is still not integrated it seems, also the weightage of bank stocks of banknifty (NSE) is not same as bankex (BSE) - so request you to monitor the accurate component stocks before making a wrong decision. --- Weekly Analysis From 18th to 25th of May 2023, banknifty has dropped only 89pts ~ 0.2%. Traders who had taken weekly short straddles or short iron fly would have been highly benefited. Banknifty is able to hold its ground very well. After 11th May, it has not even fallen back to its first legitimate support level of 43253. Thats where we need to credit the bulls. I strongly felt we might breach support today, but the 14.15 hourly candle (+181pts) really surprised me. --- Today's analysis We opened inline and fell in the perfect slope as per the momentum set yesterday. There was no surge in volatility or abrupt moves, the fall was linear, steady and slow. At 11.30 there was a brief recovery till 12.20. The fall after that from 43601 to 43390 was looking like a possible candidate for further follow-up selling. Unfortunately that did not come and instead we had a reversal of 323pts that helped banknifty close the day with no loss. We have been seeing the 14.30 to close moves on all expiry days, it seems its very easy for the big boys to play out their strategy late in the day. The option premiums are unaffected as the decay has eaten into all the juice and just the near ATM strikes are all that matters. The real moves only if it comes early in the day will set a directional trend. Since we have expiries very often now, its quite possible to get the results with very little disruption. Although its good for option sellers in the short term - what it does is reduce the premiums in the long run. --- 15mts chart is the perfect range bound flattish pattern. There was a brief period when we just broke down from the usual range. Due to this break, I was assuming we will have more downward momentum. Only to have ended the day with worthless PUTS. --- 1hr has formed an odd shaped triple top, due the the awkwardness of this shape - I am not even pretty sure if it will work or not. This is formed near the ATH. Again the value of something bigger happening is highly dependent on the support levels of 43253 getting broken. As long as that level remain intact - whatever pattern that gets formed will not count.
NSE:BANKNIFTY
by viswaram
BSE Capital Goods- Relative Strength signaling RED FLAGS!Attached: BSE Capital Goods/ BSE Sensex Daily Chart as of 13th April 2023 The Ratio Chart has given Warning Signals of what is about to come for the Capital Goods Sector, the Warning Signals are as follows: 1) A Broadening Wedge Pattern (see the Blue Trend Lines marking the Pattern) 2) A Double Top formation within the Broadening Wedge Pattern (see the Red Curve and the 2 Down Arrow Marks) 3) Triple Bearish RSI Divergence is also visible 4) MACD is currently in Sell Mode 5) ADX is below 25 meaning range bound (this means a Trend is about to start, biased for the Downside given the other signals) All the Signals I have mentioned are Bearish for the Chart which mean that if it comes to play then the Capital Goods Sector (including Stocks that make up the Sector) would be confirmed to be an UNDERPERFORMER for the coming 2-3 Weeks (till the Downside Target gets met on the Ratio Chart at least) You may look at Stocks within the Capital Goods Sector for Shorting as some of them have already given Sell Signals like L&T and SIEMENS (these 2 are on my radar)
BSE:CGShort
by T_Harth
2
Nifty May be a Nasha, but Sensex is the Sober Reality!Attached: BSE Sensex Daily Chart as of 25th April 2023 Yes you read the Title of this Post correct, to put it simply: Nifty is Deceptive but the Sensex is Truthful In the above BSE Sensex 30 Chart, we see that Price is facing Resistance at the Channel Trend Line drawn from the December 2022 High. There are presently 3 touch points already for the Channel and today marks the 4th touch point. So the Trend Down is still maintained going by this and NO Valid Breakout has taken place. While if I look at NSE Nifty 50 Chart, I cannot spot any such Channel that connects the Highs to give such a clean picture like the Sensex is currently giving us. So the Question is: Nifty or Sensex: Which Stock Index Should You Trust? My Answer: Trust the Truthful Sensex
BSE:SENSEXShort
by T_Harth
Consistent Compounder - HH/HL PatternTCPL Packaging has been increasing EPS consistently for 7 quarters now, and the share price has shown a steady Higher High/Higher Low pattern. With Increasing revenue, there has been margin expansion as well - Killer combination. Price has taken support at 50 day EMA before as well, and Relative strength seems good. It will be interesting to see if the share can give another 60-70% leg up from recent low to 2000 levels - Upcoming Quarter results will be a good indication. Note : This is not an investment advice. This post is meant for educational purpose only. Kindly do your own due diligence before investing.
NSE:TCPLPACKLong
by Aayush_Rungta
7