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Nifty: At Lower end of the channel and trading strategy for MarNifty Did I know the SVB Bank collapse... Absolutely No! But Technical Analysis gave us a warning signal well before the NEWS. I had shared the analysis well in advance... More so I have also shared analysis on Banking stocks which were suggesting those were at resistance levels. The results are in front of you. Nifty is now at the lower end of the channel. Banking stocks have taken resistance exactly at levels mentioned. What next... Nifty looks likely to be in down trend. Although risk::reward ratio to short now has a higher risk. Also I'm not expecting a new high any time soon... Nifty could be range bound. For March series I would look at 16600-16750 odd levels as support zone and upside might be capped at 17300-17400. My trading strategy Short strangle which keeps me protected for a rise up to 17570 on the upside and 16430 on the lower side. As well as has a 8% profit potential till 29 March 2023. Trust this would help you Plan your trade. Focus on managing your risk. If risk is managed you would tend to have a higher chance to stay profitable..!!! Take care & safe trading..!!! Like and Follow Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - 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:NIFTY
by indiamarketoutlook
2
Nifty: Bounce back... what next?Nifty, If you have been following me, I was shouting from the top of my voice to sell when Nifty was above 18000. Yesterday I had mentioned 2 things - to watch out for weekly closing - Above 17430-17450 zone, next resistance is around 17604-17620 odd levels - focus on Risk Management. We were close to lower end of the Red channel That's what we are seeing right now, Nifty opened at 17451 and made a low of 17427.70 respecting the said zone to perfection and thereafter the Index has rallied non stop to make a high of 17597.8 so far... 150 points roughly straight away from 17450 odd levels... Right now we are close to the mid range of the channel and also the Black Line of resistance around 17620 odd levels. Risk::Reward ratio looks manageable from current levels to short. Given the setup, my trading strategy Sell 17800 Call option 29 March 2023 expiry in 2 tranches. Currently around 128 and rest on Monday. I would exit if Nifty closing is above the Green trendline (around 17680) Take care & safe trading..!!! Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - 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:NIFTY
by indiamarketoutlook
Upwards correction; Short-term Elliotical approach to XAUUSD.Hello Traders! 1. We see a 5 -wave impulse down which had been expected a long time coming. 2. Now there is an expected correction upwards from the market. 3. We have clear strong support and resistance . 4. Breaking of the Trend line should confirm our entry. The break of waves 2-4 trendline mostly marks the confirmation of the beginning of the correction. 5. Be smart with your risks. Trading a correction is very risky and is not advised for beginner traders. Do use proper risk management. Happy Trading! Profits, Market's Mechanic.
OANDA:XAUUSDLong
by UnknownUnicorn27677748
ASIANPAINT IN BEARS BRUSH ???!!!Chart does insist me the above titled opinion Reasons In Monthly timeframe, Asian paints looks like, is in formation of a DOUBLE TOP!!! ( Making HIGH(Jan 2022)and LOWER HIGH(Sep 2022) respectively) (shown as image attached in the chart) 1. Asian paints has been travelling in Ascending channel pattern(red and green) taking support at respective levels from 2019. 2. Now currently its is in the down swing in a descending channel(white trendlines). 3. January 2023 Monthly candle - going to be the decider for further move.(if it closes below 2900- we can confirm the bearishness further) 4. In daily time frame, it has formed a Head & Shoulders pattern and given BREAKDOWN!!! 5. By H&S pattern, Target gets to about 200 points(to 2850 level). 6. Green line down near 2900 is acting as support from 2020. 7. DOUBLE TOP (Monthly timeframe) will mostly likely be confirmed if the Green line gets broken. 8. Let's wait and watch whether the monthly candle breaks the green line or not!!! Asian paints is one of the stocks which has not reached the 52 week high (during recent rally of market)!!! Take SL as day candle closing out of the white channel.(3090) & Keep Trailing the SL!! 1st Target - 2900, will update once it reaches this target. If the Double top works as it does, Asian paints can see 2250 level soon. Even if we don't trade now, It is better if we don't make any long term investment on Asian paints as of now.(as it is bearish) Let's wait and watch how it moves!!! What this is going to teach us!!! Note : Just sharing my view.....Not a Tip nor Advice!!!
NSE:ASIANPAINTShort
by mmjimm
11
Nifty: Is Nifty in a downtrend for 8-13 monthsNifty If we look at the overall chart structure, prima facie it looks like Nifty has started a downtrend from Dec 2022. Currently, Nifty is trading below 21 day EMA, 63 day EMA and now also below 252 day EMA If Nifty weekly closing is below 17430, then it may signify that Bears are in control of the market as of now. Above 17430 Nifty too Nifty may face another stiff resistance around 17604-17620 odd levels and final resistance looks likely to be around 17800 odd levels. So Bulls have an uphill task. Below 17280 may potentially open doors for further downslide towards 16900 odd levels in the short term. The structure can take Nifty down to around 16000 odd levels by September 2023. Important levels on the upside in the short term 17430-17450 / 17604-17620 / 17800 odd levels Important levels on the downside in the short term 17331 / 17280 / 17080 / 16900 odd levels Focus on Risk Management and Plan your trade accordingly...!!! Take care and trade safely...!!! Take care & trade safely...!!!
NSE:NIFTYShort
by indiamarketoutlook
1
Nifty closing below the blue trendline and Monthly expiry viewNifty As suggested earlier Nifty closing on last Friday suggested battle of Bulls and Bears still in balance. The importance of 17965 was highlighted... Nifty opened gap up exactly at that levels but Bulls are looking nervy as it couldn't sustain above that. The 2 hourly candles gave a close of 17959 and 17964 - Now On Hourly charts Nifty has closed below the blue trendline - On the upside 17965 / 17996-18030 is very crucial resistance zone - On the downside 17836-17854 if taken out then it potentially opens gate for further downside up to 17564 till Feb expiry. Take care & safe trading....!!! Do Like and Share Follow for more trading ideas from me Learn to earn Take care & safe trading...!!! Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - 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
Nifty: Chart setup, chart view and trading strategyNifty Chart set up Since Jan 27, Nifty has traded for 12 days inside the candle body of 27 Jan 2023. Chart view Whether the breakout is real? The real challenge would come above 18000. Whether it is able to sustain above that. On the downside watch out for 17860 odd levels. If that level is taken out, Nifty might fall towards 17600 / 17400 odd levels and below 17400 further down towards 16800 can not be ruled out. My trading strategy : Bear Call Spread strategy for Mar series Sell Nifty 29 Mar 2023 series in 2 tranches 18200 Call option currently around 214 -215 & Buy 18500 Call Option currently around 98-100 Net Premium receivable 115-116 points (Rs 5750-5800) per strategy lot On a margin requirement, it gives a profit potential of approximately 18.2% till 29 Mar 2023. It has an inbuilt risk cover for a rise up to 18315 till 29 Mar expiry. There is a possibility of Nifty heading towards 18030 odd levels in 1-2 days. If Nifty struggles above 18000 then I would use the 2nd part to sell. Plan your trade accordingly...!!! Take care & safe trading...!!! Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - 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