Shortsetup
RBLBANK at channel resistance with Evening starRBL BANK is one such stock which can give you solid returns when it shows signs of falling.
This is one such scenario where it has made a lower high at channel resistance with evening star and also stochastic indicator has given a negative cross over at the same point.
To make money on this opportunity, we may SELL 145 CE option easily hedging it with 150 CE BUY.
Plan your Trade! Trade your Plan!
Happy Trading !
MINDTREE... More correction awaitsThe share price seems to follow Elliot 5 waves pattern in the correction.
Wave 4 is in the process and I'm expecting a triangle kind of pattern in wave 4. After completion of wave 4, we can expect wave 5 to drag the share price to 3300 to 3000 levels.
One can wait for the share price to fall to such levels before investing in Mindtree.
Gold ShortFallGold's current price is near the Weekly SZ + Daily SZ + Weekly RTL.
Weekly RTL is multiple times tested but still may not succeed in breaking the HTF SZs.
Gold may react from HTF SZs & can test 1810-1807 levels.
On 4Hrs TF, If it succeeds to fall & close below 4Hrs STL then check for Increased volume, No opposite side reaction.
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🤍 INTERESTING FACTS
🔹Stock in a multi year resistance zone.
🔹Interestingly increasing volume.
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🔹Company is almost debt free.
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🔹Company is expected to give good quarter.
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Chemfab Alkalis is engaged in the Business of Manufacture of Inorganic Chemicals and trading of PVCO Pipes.
🙏Study the chart then Invest
Short side trade in BajajFinsv As the markets look weak, it makes sense to trade in stocks that a have weak setup. BajaFinserv looks like one of the weakest charts in Nifty.
The stock has failed to rise above the previous high 19325 and made a lower high at 18620. Post that the stock prices moved below the previous low of 15450 at a very fast rate i.e. just 5 days. This shows the strength of downtrend.
The stock prices has broken below the previous support of 15600 with high volumes and has the next support at 14000. Good shorting opportunity!
Disclaimer : Only for educational purposes.
HCL DOUBLE TOP + 200 MA BREAKDOWNHCLTECH fell with every other I,T giant like wipro & techm but it looks more bearish from here on.
All analysis is explained in the chart above.
Short below - 1045
Targets will be 3%, 5% & 10%
Please LIKE, COMMENT and SHARE to motivate and support me. I'll keep on posting new ideas on Indices & Stocks. Be sure to follow so that you don't miss any good trades that might have been rewarding.
Any comments and critiques will be appreciated even if it's of opposite view as a trader can also be right so many times.
BAJAJ FINANCE LTD Dear Traders
1- Look at the strong demand zone, every time the stock has been respecting the same demand zone, it comes to this level and then bounces
2- There is a strong trendline which is coming from a few weeks, the high probability the stock may come to the same trendline again
3- It has made a perfect double top pattern
4- It has made a bearish engulfing pattern and that to on the resistance which itself is a bearish signal
These are a few of my strong findings which i have observed
if the low of present candle is broken we can expect a sharp fall in the script
Note:- All the study made in this chart or market is purely for educational purpose, No buy and sell suggestions from my charts
Do comment and let me know if you wish to gain more on charts and more knowledge on the same
Thanks and regards
NIFTY... EXPECTING AT LEAST A 600 POINT CORRECTIONThe top is getting heavy for both nifty and bank nifty.
US inflation data, Indian inflation data, TCS, Infosys, Wipro results. Too hot to handle. Vix above 17.
Technically 5th wave of Elliot getting completed.
Can short nifty with a stop loss of 18400. (Risk reward 1: 3.5)
Targets mentioned are for the next few weeks.
Profit booking in IT and banking stocks can wipe out the entire rally made.
MCX Crude looks spooked, shaken, and violently swirledSomething has spooked, shaken, and violently swirled the crude markets.
What exactly is brewing with oil?
The rising and strong trendline that began in Apr 2020, has been tested twice on the weekly time frame earlier.
This week, it's simply taken out. Broken in one clean swipe. It's almost like a butcher's big solid knife has sliced through warm butter. That’s how the wide-ranging weekly bar with above-average volumes is describing itself to me. (Or maybe it's my hunger pangs that are causing me to view Crude so crudely. :-) )
Even though Crude is currently testing the rising 200dma, (which happens to be a strong support zone) the possibility of this zone holding appears rather bleak to me. The market and price action are always supreme. Yet, if this 200dma level holds, Crude may well continue to brew strongly and surprise me as well.
How much the downside lies ahead if and when 200dma gives away?
The ATH range of 5535-5719 has formed over a long period from Oct 18 and Jul 21. The manner in which it has given away is indicative of a likely sharp down move ahead.
The Fibonacci supports of (23%) lie at 5100 and 38% lie at 4279. For Crude to continue brewing with interest and to stay strong, it needs to stay above the 4279 level. There are multiple supports here in this range from 4279 to 4565. This zone may well provide some support, albeit for a short bounce. It remains to be seen how this zone supports and shapes out ahead. This will define its future path.
Such sharp reversal moves and the breakout failure often have a tendency to retrace to the extent of 50% (3622). Eventually, the 61% retracement level @ 2951 could well be a distinct possibility, if crude starts to trade below 4279 levels.
At this point in time, these lower levels do seem far-fetched. Yet for now, these appear to be a distinct possibility IMHO.
Time shall quickly tell if this is a strong brew or it’ll be weak and subdued.
Cheers until then.