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Shark

ICICI BANK MAY HAVE A CORRECTION. RISING WEDGE PATTERNICICI bank's price has been forming a rising wedge pattern which has got broken today. According to the height of the pole and XABCD bullish shark pattern, the target is set at 647. The trade setup is to buy ICICI when it reaches 647 or short if there's a pullback to confirm the fall. The stoploss here is to place at C according to both the patterns, which is not a good risk-reward ratio. So, try to buy when the price falls to 647. Happy trading :) This is just for educational purposes.
NSE:ICICIBANK
by Sanjan91
NIFTY PRICE ACTION ANALYSIS. SHORTNifty is currently trading at the potential reversal zone formed by the XABCD bearish Shark pattern. If the marked trendline is broken after the price gets rejected from the PRZ, short Nifty and target zone would be the 0.5-0.618 fib retracement zone of CD swing. The stop loss must be strictly followed, above this level ( 17266), shorts are going to be trapped. The levels are mentioned on the chart. Happy trading :) This is just for educational purposes.
NSE:NIFTYShort
by Sanjan91
Britannia price action analysis. Time for a pull back?Britannia's stock price has fallen after it reached the potential reversal zone or supply formed by the XABCD bearish shark pattern. The price took the correction until point C of the pattern which is an ideal ultimate target for the shorts who followed this pattern. Recently after the correction, it rose and broke out it volumes above the PRZ. Considering RSI at 80 and the price at the major supply zone from where it had been rejected twice before, the price may come down to have a pull back test. If the price bounces off the PRZ or the supply zone, this PRZ/supply zone will become a strong demand zone. On the other hand, breaking and sustaining below 3720 and the red trendline will confirm the downfall. We can see a ABCD pattern, which has a fib price extension of 2 at 4042. Above this level the price may have a good long rally. If price tests the prz and bounces off, then go long above 3720 or 3815. You could 6-10% rise until 4042. if the price sustains above 4042 add more qty and have trailing stoploss. Strict stoploss at 3720. A fall up to 3650 could come below 3720. Happy trading :) This is not investment advice. Please consult your financial advisor before investing.
NSE:BRITANNIALong
by Sanjan91
3
AMC price action analysisAMC's stock price corrected drastically after reaching all-time highs. The bearish shark pattern correction seems to be completed and the hurdle is to break the trendline with huge volumes bouncing off of the demand zone. The idea is neutral because there is a chance for collapse also. The breakdown below the demand zone completes descending triangle pattern. For the short covering move, it must cross and sustain the 48 price mark. Patience is the key here. Wait for the confirmations to go long or short. For both long and short positions, targets are mentioned on the chart. Consider exiting at cost. Happy trading. This is not investment advice, Please consult your financial advisor before consulting.
NYSE:AMC
by Sanjan91
CAN SMALL CAPS RECOVER FROM THE RECENT FALL? A GO-LONG IDEA. Small caps 100 index has fallen nearly 11% reaching a decisive point in its fall. The price is currently resting on or near the daily timeframe's uptrend line (support). The RSI is also at 30.14, which indicates a over sold signal and we may see a bounce very soon. The potential reversal zone formed by ABCD pattern's 1.618 and 2 fib extension acts as a demand zone for the small caps 100 index. Here are the 3 scenarios that could develop, 1) The index may take support from the trendline and go up. Sustaining this trendline could take it to, point B and maybe further until point D. This could shape up into a bearish shark pattern. 2) The index may break the trendline and consolidate in the demand zone. Breaking the the demand zone and passing the pullback test would trigger a massive downfall up to 8600. 3) The index may break the trendline and take support from the demand zone and rise again above the trendline. The point B would be the profit booking point for longs. Summary: Check the price action for some time, if the trendline breaks then wait for it to consolidate in the demand zone and rise or fall eventually. If it sustains above the trendline, you can expect the index to rise 6-12%. The main levels for profit booking are 10300 and 10800. Strict stoploss at 9660. As the pattern develops, we can analyze the index back again for any change in levels. Thank you. This is not invest advice, please consult your financial advisor before investing.
NSE:CNXSMALLCAPLong
by Sanjan91
Banknifty - Caution to LongsBanknifty has given a deep shark harmonic reversal. However, the speed of movement in the last leg was strong, hence shorting is not advisable. Hedging or unwinding longs can be done. A test of gap near 35300 can happen in next couple of days. Disclaimer: All investments and trading in the stock market involve risk. Any decisions to place trades in the financial markets, including trading in stock or options or other financial instruments is a personal decision that should only be made after thorough research, including a personal risk and financial assessment and the engagement of professional assistance to the extent you believe necessary. The trading strategies or related information mentioned in this article is for informational / educational purposes only.
NSE:BANKNIFTY
by Market-Thalaivaa
Short Nifty 50 If Nifty 50 sustains below 15670 there is a chance that these given levels will be tested in the upcoming days. As today's expiry day, if Nifty manages to test these levels, that will be a golden jackpot. VIX is very low, options premiums are too low, after 1:30 PM , we can try 15650 PE/15700 PE if it breaks 15670 levels. With Stoploss at 15700, it's worth a try to do hero zero trade. Above mentioned may not happen today, so manage your risk while trading. Have a nice day!
NSE:NIFTYShort
by Sanjan91