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PostMortem on BankNifty Today & Analysis of 19 MAY 2023 There was so much of hidden meaning in today's price action. Both banknifty and Nifty50 opened gap-up and then started falling. Banknifty fell 0.97% from High to Low, whereas Nifty fell 0.66% only.  This fall is the 1st anomaly, this happened at a time when NiftyIT was roaring! It opened gap-up and was shooting up. Which goes to prove that either Reliance or BankNifty had to fall to enable Nifty50 to continue its price action from the previous day. It was not normal to expect banknifty to keep falling as it has been creating continuous higher lows for a long time now. The question was when will it reverse, because my marked SR level is 43253, and other than the 1hr red candle there was no follow through. Banknifty took some time to gain strength and then started breaking out at 13.50, it went up 393pts by 15.10 and almost hitting the recent swing high.  What this did to N50 is the 2nd anomaly, it helped it snap out of the bearish sentiment. Sometimes a 40% weighted component like BN can pull so much of weight to turn the bias of N50 (really fascinating). This small momentum could help Nifty conquer the 2 resistances in the upcoming week. The options data was not hinting at this reversal, till 13.00 - the CEs were getting aggressively written. And once this sentiment changed more participants started writing PEs. Why is there so much buying at the top levels, I do not really know. Is FOMO fever back? Saw a news DAX (Germany) hit a new 52wk high. So the bearish cloud is starting to disappear for real? (to view all 6 charts & indicators visit viswaram. com) --- From a trading perspective these need not bother you. Longer term investments can be done via SIPs or lumpsum based on whether your main income is from salary or self-employment. Traders are in the business of speculation, i.e in the short-term where the markets are likely to go (or not go). And factually traders need not have FOMO - just need to get your views backed by solid research. If you are just starting out, go ahead with credit spreads in weekly expiries. It will give you learnings if your view is wrong & earnings if its right.
NSE:BANKNIFTY
by viswaram
BNB Price Prediction, will BNB’s price hit $528.24?BNB’s price at the same time last week was $307.79. It has moved by 1.24% in the past week and is currently at $308.85. Infact, in the past 24 hours, BNB has dumped by -1.70%. There is a slight bearish sentiment in the crypto market. The long term sentiment, however, remains bullish and BNB could hit $490.92 in 2024. The total circulating supply of BNB as of writing this article was $157,886,280 and the market cap of BNB remains at $48,765,651,999. BNB, BNB could hit $528.24 in 2023 BNB’s price prediction for the most bearish scenario will value BNB at $247.08 in 2023 BNB’s previous All Time High was on 10th May 2021 where BNB was priced at $686.31
Long
by tradewith_ritik
PostMortem on BankNifty Today & Analysis of 17 MAY 2023Once again banknifty has outperformed Nifty50, the intraday recovery from 14.30 to close facilitated by the bulls of the banks. The price action formed today is interesting, but it is not compelling for a sentiment change to bearish as the support of 43253 is still untouched. If you look at the chart pattern today, it was a decent continuation of the trend from yesterday. We can conclude with a 60% confidence that the rounded top like formation made yesterday could be here to stay. The W like pattern formed in 5mts is not really important, but you should keep it in mind. The bulls are quite strong to give away their lead, thats quite the reason we had a 268pts pullback after a 547pts fall earlier in the day. --- 15mts TF shows the perfect rounded top that got formed. Keep in mind these are temporary levels just for intraday, banknifty is at ATH levels and there is no marked resistance - which means that a small trigger can breakout BN to new highs. --- 1hr is still bullish, we will be eagerly waiting for the 1st support break. I was expecting it to be taken out today esp when Nifty50 was looking quite dangerous. But banknifty proved more stronger than thought - not only did it recover, it helped N50 also to reduce the losses. --- Just look at the Nifty50 1 hr chart, continuous red candles till 13.15. Total drop of 1.81% from the swing high. It makes an interesting case here, if the further trades are held below the current levels we will have a bullish trend negation pattern, even while banknifty is continuing in bullish sentiment.
NSE:BANKNIFTY
by viswaram
SBI hits over 3-month high ahead of Q4 results SBI hits over 3-month high ahead of Q4 results; stock gains 8% in one month SBI is a sector proxy that benefits from its strong liability franchise and continued favourable sector tailwinds Shares of State Bank of India (SBI) hit over three-month high of Rs 590.10, up 1.4 per cent on the BSE in Tuesday's intra-day trade, ahead of its January-March quarter (Q4FY23) earnings. The largest state-owned back is schedule to announce its Q4 results on Thursday, May 18, 2023. The stock had hit a record high of Rs 629.65 on December 15, 2022. Currently, SBI is trading at its highest level since January 25, 2023. In the past one month, the stock has outperformed the market by surging 8.5 per cent. In comparison, the S&P BSE Sensex and Nifty50 gained 3.8 per cent, while the Nifty PSU Bank index gained 4.2 per cent during the period. SBI is the largest public sector bank in India with strong retail portfolios and best operating metrics in the PSU banking space. The bank has witnessed continued improvement in asset quality coupled with healthy PCR.
NSE:SBIN
by chetnaparmar833
Buy HPCL for target of 285About Company:- Hindustan Petroleum Corporation Ltd is mainly engaged in the business of refining of crude oil and marketing of petroleum products, production of hydrocarbons as well as providing services for management of E&P Blocks. Market Cap ₹ 33,655 Cr. Current Price ₹ 237 High / Low ₹ 304 / 200 Stock P/E Book Value ₹ 198 Dividend Yield 5.88 % ROCE 11.6 % ROE 18.1 % Face Value ₹ 10.0 Debt ₹ 74,332 Cr. EPS ₹ -60.4 PEG Ratio Promoter holding 54.9 % Intrinsic Value ₹ Pledged percentage 0.00 % EVEBITDA -18.5 HPCL looking good on chart, 200 day EMA is crossover just happen at 237 level. MACD bullish cross over is also gonna to be very soon. Right now it is trading in lower range but according to price action we can see upside moment, and very soon we can see huge breakout which can make HPCL towards 285+ levels. So if anyone wants to go long can go with given levels. Please follow strict stop loss. If anyone wants to trade in Option writing can take this position:- Sale hindpetro 240 Pe at 5.25 keep stop loss for this strike at 10 and hedge with Hindpetro 225 pe at 0.65... If anyone wants to just naked option can go with :- buy Hindpetro 235 Ce AT 5.8 keep stop loss at 1.5 and ride the trade for the target of 9/10/11+ If anyone like my work please support me by like, follow and comment. Thankyou.
NSE:HINDPETROLong
by TraderRahulPal
2
Multi Months Symmetrical Triangle Breakout Seen in Data MaticsAbout Company:- Datamatics Global Services Ltd is a global provider of Information Technology (IT), Business Process Management (BPM) and Consulting services. The Company provides business aligned next-generation solutions to a wide range of industry verticals that help enterprises across the world overcome their business challenges and achieve operational efficiencies. Market Cap ₹ 2,041 Cr. Current Price ₹ 346 High / Low ₹ 364 / 234 Stock P/E 11.0 Book Value ₹ 178 Dividend Yield 1.08 % ROCE 24.8 % ROE 19.5 % Face Value ₹ 5.00 Debt ₹ 21.3 Cr. EPS ₹ 32.0 PEG Ratio 0.44 Promoter holding 70.9 % Intrinsic Value ₹ 357 Pledged percentage 0.00 % EVEBITDA 6.79 PROS Company has reduced debt. Company is almost debt free. Company has delivered good profit growth of 24.8% CAGR over last 5 years CONS The company has delivered a poor sales growth of 9.90% over past five years. Promoter holding has decreased over last 3 years: -3.26% Working capital days have increased from 95.4 days to 147 days Well i have done my analysis in it, and i found it a profitable bet for future. Technically and fundamentally it is looking good. We have already seen a multi months symmetrical triangle breakout in it. A huge upside momentum expected from here. For trading perspective i already written levels on chart. But according to me this is best to time enter for long term. All the data showing very positive for this ticker. In coming 6-7 years we can see 800-1000% returns in it. So take position accordingly. If you are planning for trading purpose then please follow strict stop loss. Please guy's if you like my then please support me by like and follow and please tell me your view regarding this company in comment box, i would be happy to reply there. Thankyou:-))
NSE:DATAMATICSLong
by TraderRahulPal
Seen Breakout :: Ugar Sugar can fetch 18-24% in short termABOUT COMPANY:- Incorporated in 1939, The Ugar Sugar Works Ltd. is engaged in the manufacture and sale of sugar, industrial and potable alcohol, and generation and distribution of electricity. Primary trend of Ugar Sugar Works has been bullish, as stock is holding above long term moving averages. We have seen also a downward slopping trendline breakout on daily charts. Price breakout is accompanied with rising volumes. Indicator and oscillators have turned bullish on the daily and weekly charts. Sugar sector has started performing well after healthy correction. So if anyone wants to go long can go with 102.35 current levels. You can also accumulate if you get 95-100 levels and place a stop loss at 88 and go for target above 120/124+,,minimum 20% returns possible in short term. Please follow strict stop loss. If anyone likes my work please like, follow and comment your thoughts too. Thankyou:))
NSE:UGARSUGARLong
by TraderRahulPal
IndusInd Bank Net Profits Zoom 50% Price Action also showing (+)IndusInd bank trading in a bullish channel and now it is trading in mid range of that channel. Price also taken support at EMA 200 D is line. MACD and RSi also giving bullish crossover. So technically this is looking awesome on chart. Now talk about fundamentally, so here today was the result day and result is also attractive and the board of the bank also recommended a payment of dividend at the rate of 14 Per share subject to approval of the shareholders at the ensuring Annual General Meeting. So if anyone wants to go long in it, can go with given level on chart. Please follow strict stop loss. For option lover:- Sale IndusInd 1100 pe at 31 keep stop loss 62 & hedge with Buy IndusInd 1000 pe at 6.9 For naked option buying:- Buy IndusInd 1080 Ce at 53.8 keep stop loss at 13 Target 77/89/101 Please follow a strict stop loss If anyone likes my work please support me by like, follow and comment your thought on this trading idea. thankyou:))
NSE:INDUSINDBKLong
by TraderRahulPal
Tata Motors hits 52-week highTata Motors hits 52-week high ahead of Q4 results; soars 32% so far in CY23 Brokerage firms are expecting a strong recovery in Tata Motor's financials as supply-side issues are relaxing (for JLR) and commodity headwinds are easing (for PV and CV). Tata Motors is expected to report a healthy performance in Q4FY23 primarily tracking a recovery in wholesale volumes at Jaguar Land Rover (JLR). Total sales volume at Indian operations was at 2.52 lakh units, up 10.4 per cent quarter-on-quarter (QoQ) with JLR sales volume (including China JV) anticipated at 1.08 lakh units, up 16.6 per cent QoQ.
NSE:TATAMOTORS
by chetnaparmar833