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28 Feb ’24 — BankNifty goes bearish, next stop 45399BankNifty Analysis - Stance Bearish ⬇️ There is no doubt that the stance on Banknifty is anything but bearish. Even though we started quite okay, we quickly gave up the gains. After 10.23 the intensity of selling was quite strong. And once we came back to the bearish channel the depth of the RED candles kept on increasing. Banks were the first to react to the bad news along with RELIANCE. NiftyIT was still going on strong and was at the GREEN end of the turf. In fact, NiftyIT went into RED only after 11.43. 4mts chart The double top M pattern and the bearish channel are better explainable on the higher timeframe. BankNifty’s next support comes at 45399, the momentum for the Bears will really pick up if we are to break that by tomorrow. That would also mean we are going back to the levels as of 18th Jan 2024. We are also quite sure, that could be a pain area for many traders who would have taken a monthly position. HDFC Bank was very special today, it hit a low of 1405 by 10.59 - but the recovery after that was more than amazing. Till 14.27, things were not looking that bad either. However, the final 1 hour ensured that the selling on this counter was far from over. HDFCBK has a higher weight on Nifty50 than RELIANCE. Also it commands 2 other indices - BankNifty and FinNifty also. So if this elephant starts rolling, it would be a treat to watch for the BEARS. 63mts chart Algo Trading Our algo trades ended today with a gain of 15606. This is the 3rd day that we have exited the Algos prematurely. Today, we closed the trades @ 10.07 as my gut feeling said something was fishy.
NSE:BANKNIFTYShort
by viswaram
Nifty Analysis: Double Top Alert! 🚨 Heads up, traders! Nifty has formed a double top pattern right at the peak. While we hesitate to scream "downtrend," signs point to a potential correction. 📊 Technical Breakdown: 1. Initial confirmation with a neckline break. 2. Crucial retest completed for added confirmation. 🎯 Targets & Stoploss? Refer to the chart for specified levels. Brace yourselves for potential market moves! Disclaimer: Market predictions involve risk. Trade wisely. #NiftyAnalysis #DoubleTopPattern #MarketAlert 📈🔍
NSE:NIFTYShort
by iamrk7
Intraday 26 April_ Tech Mahindra_ SHORTIntraday Trade setup for 26 April I have selected 4 stocks for intraday, not all the trades will get executed. I always place Stop Loss Market Buy/Sell order above or below (for LONG and SHORT) the high/low of the reference candle to make an entry. Entry: 947.85 SL: 953.75 Target: 936 Disclaimer: The analysis or trade setup is of my own. Please do your own analysis before jumping into the trade. I shall not be responsible for the profit/loss in either way.
NSE:TECHMShort
by UnknownUnicorn7637383
1
Berger Paints: Short at retest; Risk Reward 1:6Berger paints breakdown from "symmetrical triangle" chart pattern in daily time-frame. I am expecting huge downside rally after a retrace till Rs 591 (which also translates to 1:6 Risk Reward). I am planning to go SHORT at 725-730 Levels (but not before 3:00 PM), wicks at the top of daily candle tomorrow will add extra confirmation to our trade. Entry 725-730 SL 752.1 Target 591 Disclaimer: Please do your own analysis before jumping into the trade. Jumping into trade is not necessary to acquire knowledge, you can be spectator and evaluate how the price moves.
NSE:BERGEPAINTShort
by UnknownUnicorn7637383
Granules, Short Strangle SetupToday the price has broken the support zone and Fib retracement level of 38.20%. Also, there is a good convergence in ema bands. The price could show the volatility of 5 to 6% in this range of Fib retracement levels of 330 to 315. On the breakdown of this range we got a clear short trade of 5 to 6%. If anybody wants to trade this range then the short strangle strategy will work best. Hit the like button!! Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. This material is for educational purposes. Thanks S. Simranjit Singh Virdi
NSE:GRANULESShort
by ssvirdi
Nifty: Chart set up and viewNifty We have been warning about the fall since the last few Nifty updates If on pull back Nifty finds it difficult to reconquer 63 day EMA then probability of Nifty falling towards 18820 could be higher. Current Scenario and Important levels have been discussed... View gets invalidated if Nifty closing is above 63 day EMA on a weekly closing basis. Take care & safe trading.. Do Like, if you find it useful Follow for more trading ideas...!!! Disclaimer -The view expressed here is my personal view - Past performance is not a guarantee for future predictions - I have been wrong in the past and can be wrong again in future too - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:NIFTYShort
by indiamarketoutlook
3