BankNifty Trade Setup 22/11/22As BankNifty Continusally trading in Range from few days,chances of trending market may possible,if banknifty slips below 42200 ,go for Short with last swing as Stoploss. On upper Side also Banknifty facing resistance so if price get rejection from upper area as shown in chart then try 1/3rd quantity for sell and remaining add when it start to trade below 42200.
Sensex
markets are dynamic as alwaysTHE chart pattern IS FORMING OF CUP AND HANDLE WITH A POTENTIAL BREAKING OUT
and the rsi divergence is suggesting A SHORT TERM TOP BEING MADE AND WAVE THEORY IS ALSO SUPPORTING THE RSI DIVERGENCE
as of now i am little CAUTIOUS AND OPEN FOR BOTH SIDES
but my view is BULLISH UPTO 10 TO 15 NOV 2022
CONFIRMATION OF A UPTREND WILL COME AROUND 10 TO 11 OCT
AS PER MY TIME CYCLE THEORY
BSE:SENSEX
HAL - Do Not Miss - VCP Defence Sector in India is in a sweet spot, with production and exports set to double in 3-4 years as per GOI's targets.
HAL is the juggernaut in this space, and while the expansion will primarily benefit Private players, the assembly work for the final piece will be monitored by HAL mostly.
I strongly believe that the technical setup and fundamental outlook seems very well poised to snowball it into 3k levels soon.
Once the previous high is breached, and an upcoming earnings trigger, it will be interesting to see how this plays out.
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Again, only for educational purposes. Thanks for reading! :)
Delta Corp - VCP Pattern forming?Leading company in casino business.
Good Q2, with visibility of cash flows ahead.
Risks from an impending court matter over Daman casino.
Good capex plans for future to start another Vessel by Q3 of next FY.
Volumes are tightly squeezed in the right part of the pivot forming area, and an inside candle, or a breakout candle can be a good entry point, as even a small volume thrust can cause prices to move upward after long dry volume spell.
All Cargo - VCP All Cargo Logistics is India's leading logistics solution provider.
If price sustains above neckline, it can trigger a fresh rally.
There are looming risks from logistics slowdown from recession, which is evident from the Delhivery share price debacle recently.
However, the technical set up is strong, and the company has shown strong growth at a relatively attractive PE Ratio of 10.
HFCL - Volume Contraction PatternHFCL is one of the leading companies in optics fiber manufacturing for 5g sector in India.
The company recently got approval for PLI schemes worth 652 crore as well.
Once price breaks above the neckline, we can expect fresh rally.
There is good volume spike as well on closing day, and it will be interesting to see if smart money inflow continues.
Cash is King for now!Indian markets looks like super bullish for a while, but how long?
Global weakness, European crises won't let the Indian market rally. Indian market might consolidate and give opportunity in future
Bearish divergence on daily chart.
Double top.
Disclaimer: Chart, data and levels for study purpose only. I am not a financial advisor. Use your intelligence before investing.
BANK NIFTY Analysis / Observation 40000NSE:BANKNIFTY
I strongly believe this is not a breakout , and might be a fake one as NIFTY HASN’T BROKEOUT YET
If NIFTY BANK breaks and closes above the parallel channel, then i may re-think about my analysis
Here’s a link to my previous Analysis
I’m still thinking it may play out, keeping in mind of foreign markets.
Watch for breakout and close above the parallel channel and invalidation of H&S.
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PS: THOSE IS FOR EDUCATIONAL PURPOSE ONLY