ROUTE MOBILE 19 SEP 2022As the INDIAN IT showed some bearishness in the last two trading days so as per that and as per BRITISH inflation data most of the IT sector also we can see through the US data countries are starting to go into a recession. Thus IT sector is crashing so this share which is having most of the business in EUROPEAN countries also it is showing exhaustion after hitting the 1500 level so we can short it with simple price action and trading analysis for the 19 SEP 2022 intraday.
SELL levels are 1400 or before to reach the level of 1400 and then continue the move further.
BUY side is not recommending that much as its already on the sell-side and ran from the opening price up to 2100 which is 6 times of it so exhaustion in it is already seen and past trading days it's consolidating between the 1400 and 1500 even though it tries, to crack the 1500 but could not sustain that and now it is coming back its last support.
Short
BANKNIFTY analysisBUY SIDE
As recently Bank Nifty made a new high just above its previous high so now it is in the wedge pattern which is looking for the support and near by good support is of 40500.
Thus we can go for long in Bank Nifty upto next high level or for a double top pattern.....
SELL SIDE
As BANK NIFTY rejects from its previous high and continously going toward its supports thus support level of 40500 once breaks can lead to long short position.
A small short position can be made once that small trendline breaks thats its following to move upward upto the level of 40500 max and can follow above move.
NEUTRAL
Bank nifty can stay in the range of 500 points from 40500 to 41000.... also we can see some resistance building above 41000 to 41100 which is rejection level. Once nifty crosses that level then we can see a full-bullishness in the index.
Colgate - Next MoveColgate is trading at a crucial level. Levels are mentioned on the charts. Sustaining below 1685 may take the stock to the levels of 1625-1600. Or sustaining above 1685 levels, will give a breakout for the target of 1740.
Only for learning and sharing purposes, not a piece of trading advice.
Always calculate your risk before entering a trade, rather than calculating profits.
All the best.
Selling oppurtunity in Nifty @Nifty
Since the Price is falling I will be looking to short the index
Price probably took some support 17880
Since Price has fallen 230 points from day high ,expecting a small retracement or pull back in intraday.
So many supply areas has been created but 18000 being a psychological level ,I'm going with that one.
With small SL of 40 points we can short nifty 17965 with a SL of 18005
With an ATM option this will be Approximately with a risk of 1000 rs per lot.
PS: Price might not come back also.
**Before 17965 If a RED candle closes below 17880 I might plan the trade differently.
Target will be in execution.
Managing the trade:
If the trade goes in our way
*Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.
I will be updating
Selling oppurtunity in Bank NiftyPrice is coming to its supply area.
Expecting to see some red candles here.
ENTER 40822 with SL levels of 40922.
Target will be in execution.
Buy 15 sep 40800 PE @ 273 - 275
SL :230-233.
1000 rs risk per lot
Managing the trade:
If the trade goes in our way
*Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss
NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.
SGX Nifty Chart Analysis 13/09/2022SGX Nifty made high of 18142.5 & then it formed a pattern called as "Bearish Engulfing.
SGX Nifty was forming higher highs with negative divergence. It formed Top 1, Top 2 , Top 3 & Top 4 with lower volumes.
Whenever any stocks or indices made higher highs with dry volume i.e. Negative divergence wait for chart pattern to form because it means that particular stock or indices will fall , no one can tell the timing but we have to follow the chart pattern to make our trade.
Good Luck
AMARAJABATTERY ANALYSYS 12.09.2022BUY : 448 TO 500
TARGET 857 TO 1041
Reason For Selling This Script :
In this script it has formed the side ways pattern for longer time frame. Now price came to support of the side ways. And it also forming the triangle pattern in monthly time frame.
Now the price has formed the support in bottom of the box. So we can go for buy as above levels. Once the price close above 1041 in monthly time frame and the next target up to 1533 to 1621.
Technical Analysis Used :
Box Pattern
Triangle Pattern
Double Bottom
Note :
Above given levels are based on monthly & weekly time frame . So be patience it will take some months to achieve the target.
ALL THE BEST ..
Shorting opportunity in nifty!!When the price comes back to supply area (17724) good for a short trade with an SL of 17774
Managing the trade:
If the trade goes in our way
*Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
Will a correction happen in ITC at least now ?ITC broke the trend line with high volumes.
*It has been in uptrend without a proper correction for uite a long time.
For Intraday can short ITC @cmp:327 - 328 with a Stop loss of 332.
If the trade goes in our way Targets will be
*Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
For Swing can short ITC @cmp:327 - 328 with a Stop loss of 335 (Fib extension resistance area).
ORACLE FIN SERVICE is nearing triangle breakoutNSE:OFSS is nearing triangle breakout
Entry : Conservative traders, wait for breakout with volume above average and then take position. For small SL, enter on strong close above 3180
Exit : When the setup is invalidated by false breakout, or strong close below the triangle's support line
Target : 4200, giving around 32% returns from current price of 3147.70. Follow trailing stoploss as IT stocks are in a continuous downtrend for long time.
Midcap IT related company with strong fundamentals & financials. Income statement is good, debt to asset ratio and PE ration are very low, contributing to the pros.
FII are constantly reducing their stake in this scrip from 2021 Mar, however the scrip rallied from 3000 to 5000 (66%) by the help of DII.
Key note : Always follow proper risk management to avoid losing capital from false breakouts as this is common.
Caution : This is a knowledge sharing analysis, not a call.
Expecting a downside in Grasim (Positional)NSE:GRASIM
I am expecting a downside in Grasim, because the price is facing resistance near the trendline, and the trendline has not been tested multiple times so it is a strong trendline. The MACD indicator is giving a sell crossover. The RSI is also moving down indicating a falling bullish momentum. So because the confluence of the technical indicators I am expecting a downside move in GRASIM. The SL an Targets are shown in the Chart.
Disclaimer : This is my own views and Analysis. This is only for educational purposes. It is not a recommendation, call or a tip.