Recap from yesterday: “Nifty has shown it is stronger than thought by bouncing off the channel’s upper boundary. For tomorrow, my stance is revised to bullish. Since we are at ATH, I do not have an upper target, but my support level will be 21037.”
4mts chart link - click here
Results continue to amaze and amuse me. Never have I been rewarded so...
Just hear me out, this is the 2nd time I'm seeing a move like this other than the clear rejection from the npoc of the last 2 days, if you look closer to the GP formed today morning could be a possible speculation but a small observation i call Ghost of Golden Pocket (GGP)
Also a friendly reminder to look for other confluence on the POC that level was a GP and 2DPOC
I just come across this while random scanning.
Yearly breakout usually sustains.
Hence any retest could provide a good Risk Reward entry & a weekly closing above 240 could become a great confirmation for upward move.
P.S. : I'm personally not taking any new position without having conviction in its fundamentals. & also, Nifty is in bit of correction phase thus...
Since the Anil Ambani has committed to go debt free and some follow up action does boost the confidence of investors recently in all ADR group.
I expect this rally to go continue.
Now the resistance for this one lies at 3.95/4.75/9.50.
Outlook intact for telecom stock, power and infra.
BANKNIFTY | Small Cup & Handle inside the channel - Looks good 1000+ points - Expecting the gap to be sealed
CMP : 35339
SL : 34950
Target : 36500
1:3+ risk reward setup
P.S : Vix is high, market is in consolidation mode so prefer to use spread.
Buy 35500 CE
Sell 36500 CE (This would take care of the Time decay, Volatility crash of the option we buy so...
NIFTY50 may touch 11250 resistance in a short period of time
, as its current position which is showing that it may be expecting a trend reversal in its way but then it may experience a sharp fall again up to As I took historical values from 2018-2019 I noticed that between ~R11200 t0 ~S10700 nifty had the tendency to either sharply fall or sharply rise. But as I...