Nifty Analysis on Daily Timeframe !Nifty is taking making falling channel.
Nifty also took Resistance around 19850
Nifty should come down as there is a strong resistance of the Falling Channel.
Its a Sell on Rise !!
Shooting Star
LICHSGFIN, 1D formed Shootng StarNSE:LICHSGFIN formed Shooting Star and gave closing below it.
Entry : 458.35
Target : 440
SL : 475
RR : 1.1
Shooting Star in Maruti, 1DNSE:MARUTI formed Shooting Star and -ve RSI Divergence in Daily Timeframe.
Entry : 10346.75
Target : 10100
SL : 10640
RR : 0.84
MCX ,1D formed shooting starNSE:MCX Multi Commodity Exchange of India Ltd is a commodity exchange based in India. It was established in 2003 by the Government of India and is currently based in Mumbai. It is India's largest commodity derivatives exchange.
MCX formed shooting star at daily timeframe (and gave closing below it) on resistance of parallel channel.
Entry : 1796
Target : 1648
SL : 1885
RR : 1.66
Shooting Star formed on LT, 1DNSE:LT Larsen & Toubro Ltd, commonly known as L&T, is an Indian multinational conglomerate company, with business interests in engineering, construction, manufacturing, technology, information technology and financial services, headquartered in Mumbai & Technical services, headquartered in Chennai.
LT forms Shooting Star after an uptrend and gave closing below it.
Entry : 2906.75
Target : 2760
SL : 3015
RR : 1.36
Shooting Star Trading Set Up Overall Trend : Down
Retracement at least 50-60 Points in Nifty50
Entry below Shooting Star
SL : 5 Points + above Shooting Star
Risk Reward : 1: 2:3:4:5
Shooting Star A shooting star occurs after an advance and indicates the price could start falling.
The formation is bearish because the price tried to rise significantly during the day, but then the sellers took over and pushed the price back down toward the open.
Traders typically wait to see what the next candle (period) does following a shooting star . If the price declines during the next period they may sell or short.
If the price rises after a shooting star , the formation may have been a false signal or the candle is marking a potential resistance area around the price range of the candle.
Script = Axis Bank
Time Frame = 1 Day
Shooting Star A shooting star occurs after an advance and indicates the price could start falling.
The formation is bearish because the price tried to rise significantly during the day, but then the sellers took over and pushed the price back down toward the open.
Traders typically wait to see what the next candle (period) does following a shooting star . If the price declines during the next period they may sell or short.
If the price rises after a shooting star , the formation may have been a false signal or the candle is marking a potential resistance area around the price range of the candle.
Script = Kotak Bank
Time Frame = 1 Day
APOLLOTYRE Bears Getting Ready to Roll it Down!!!!!Chart pattern looks prudent and paving way for the above titled short view
REASONS
1. Apollotyre has been trading inside the Expanding Triangle ( shown below - Monthly wholesome view )
2. Now, it seems it has finished the upswing move and ready for downswing inside the channel .
3. Weekly time frame shows the Ascending channel in which it is travelling smoothly respecting the levels.
4. Shooting star weekly candle at the perfect trendline resistance adds probability to the Short view
5. Strong DAY close above the shooting star candle can be the perfect stop loss(if entering now- bit high risky) & Target levels too mentioned as bright dashed green lines .
6. This is a long term view. ...it needs to breakdown out the purple trendline(which we can expect in next few days) and then out of the yellow channel
7. Breaking down out of the Yellow channel can be the confirmation for less risky entry.
Remember, Apollotyre is one of the Most volatile FnO stock (more than twice of nifty) and we can expect the same nature in future too
will update as it moves!!!
NOTE- Just Sharing my view...not a tip nor advice!!!!
Shooting Star A shooting star occurs after an advance and indicates the price could start falling.
The formation is bearish because the price tried to rise significantly during the day, but then the sellers took over and pushed the price back down toward the open.
Traders typically wait to see what the next candle (period) does following a shooting star . If the price declines during the next period they may sell or short.
If the price rises after a shooting star , the formation may have been a false signal or the candle is marking a potential resistance area around the price range of the candle.
Script = TVS Motor
Time Frame = 1 Day
Shooting Star A shooting star occurs after an advance and indicates the price could start falling.
The formation is bearish because the price tried to rise significantly during the day, but then the sellers took over and pushed the price back down toward the open.
Traders typically wait to see what the next candle (period) does following a shooting star . If the price declines during the next period they may sell or short.
If the price rises after a shooting star , the formation may have been a false signal or the candle is marking a potential resistance area around the price range of the candle.
Script = Auro Pharma
Time Frame = 1 Day
Shooting Star A shooting star occurs after an advance and indicates the price could start falling.
The formation is bearish because the price tried to rise significantly during the day, but then the sellers took over and pushed the price back down toward the open.
Traders typically wait to see what the next candle (period) does following a shooting star . If the price declines during the next period they may sell or short.
If the price rises after a shooting star , the formation may have been a false signal or the candle is marking a potential resistance area around the price range of the candle.
Script = L&T
Time Frame = 1 Day
Shooting Star A shooting star occurs after an advance and indicates the price could start falling.
The formation is bearish because the price tried to rise significantly during the day, but then the sellers took over and pushed the price back down toward the open.
Traders typically wait to see what the next candle (period) does following a shooting star . If the price declines during the next period they may sell or short.
If the price rises after a shooting star , the formation may have been a false signal or the candle is marking a potential resistance area around the price range of the candle.
Script = Tata Motors
Time Frame = 1 Day
Shooting Star A shooting star occurs after an advance and indicates the price could start falling.
The formation is bearish because the price tried to rise significantly during the day, but then the sellers took over and pushed the price back down toward the open.
Traders typically wait to see what the next candle (period) does following a shooting star . If the price declines during the next period they may sell or short.
If the price rises after a shooting star , the formation may have been a false signal or the candle is marking a potential resistance area around the price range of the candle.
Script = DR Reddy
Time Frame = 1 Day
Shooting Star A shooting star occurs after an advance and indicates the price could start falling.
The formation is bearish because the price tried to rise significantly during the day, but then the sellers took over and pushed the price back down toward the open.
Traders typically wait to see what the next candle (period) does following a shooting star . If the price declines during the next period they may sell or short.
If the price rises after a shooting star , the formation may have been a false signal or the candle is marking a potential resistance area around the price range of the candle.
Script = Auro Pharma
Time Frame = 1 Day
Shooting StarA shooting star occurs after an advance and indicates the price could start falling.
The formation is bearish because the price tried to rise significantly during the day, but then the sellers took over and pushed the price back down toward the open.
Traders typically wait to see what the next candle (period) does following a shooting star . If the price declines during the next period they may sell or short.
If the price rises after a shooting star , the formation may have been a false signal or the candle is marking a potential resistance area around the price range of the candle.
Script = HDFC Bank
Time Frame = 15 min
Shooting Star A shooting star occurs after an advance and indicates the price could start falling.
The formation is bearish because the price tried to rise significantly during the day, but then the sellers took over and pushed the price back down toward the open.
Traders typically wait to see what the next candle (period) does following a shooting star . If the price declines during the next period they may sell or short.
If the price rises after a shooting star , the formation may have been a false signal or the candle is marking a potential resistance area around the price range of the candle.
Script = BPCL
Time Frame = 1 Day
Airtel Shooting Star Daily Airtel formed shooting in daily time-frame
Second candle low is 807.25
1:1 Target 773.25
USD/INR Shooting Star Learning purposeUSD/INR daily chart formed shooting Star.
1:1 Target on daily chart is 81.765.
Also it formed negative divergence with double top.
BankNifty Hourly Shooting Star Shooting Star
High 40435.35
Low 40305.30
Weekly Shooting Star in banknifty.
Dark cloud cover confirmation: shooting star, what's next?Last week, we saw a huge sell-off, that resulted in the formation of a shooting star. Such a pattern has major implications if it is seen at top of the trend. It depicts sentiment reversal.
Last, to last week we saw a dark cloud formation, now the following candle is a shooting star.
It clearly shows the overall sentiment.
Same thing you would observe if you see, the option chain. Very few positions are carried out for Monday
Calls are being added at an important price level.
17500, 17800, 18000 level
Whereas in the case of puts very few contracts are being added at 17200 and 17000 level
This shows call sellers are in control.
Expecting some short-term reversal from the 17100 to 17200 level, considering support, resistance and Bollinger band.
BankNifty Daily Chart Analysis On daily chart banknifty looks weak as it formed shooting Star pattern with negative divergence.
Details of SL , low of second candle and 1:1 target mentioned in the chart.
We can short when it breaks low of second candle. Just remember it's on daily chart it will take time.
One candle per day.
HUL Shooting Star Hindustan uniliver Ltd.
H4 Time-frame
Shooting Star at 2723.75
Low of second candle 2674.65
1:1 Target 2625.55
#shortsell
