AWHCL: A bullish pennant breakoutAWHCL has recently exhibited a breakout from a bullish pennant pattern on the daily chart. The breakout from the bullish pennant pattern is characterized by a significant price movement beyond the upper boundary of the pennant. This breakout is often seen as a signal of a strong buying interest and can lead to sustained upward price action.
The stock has closed above the previous week's high, a critical technical level that reinforces the positive outlook. This closure suggests increased buying pressure and establishes a strong foundation for potential growth.
AWHCL presents an attractive opportunity within the demand zone of 760-770. This area has historically demonstrated robust buying interest, indicating a potential reversal or support point for the stock. Based on current price action, the next discernible supply zone is projected to be around the 899 level. This zone may act as a resistance point where profit-taking could occur, thus requiring careful monitoring as the stock approaches this area. Based on the technical setup, AWHCL has the potential for an approximate 15% upside from the demand zone. A prudent stop-loss level may be below 731 to mitigate risk in case of adverse price movement.
Disclaimer: The information provided in this technical analysis report is for informational and educational purposes only and should not be interpreted as financial advice. Investors are encouraged to conduct their own comprehensive research or consult with a financial advisor before making any investment decisions.
Supply and Demand
BankNifty Intraday Support & Resistance Levels for 11.10.2024On Thursday, BankNifty opened with a gap up and surged to a high of 51,659.45, closing at 51,530.90, gaining 524 points over the previous close. BankNifty has exited the Daily Demand Zone and closed above 51,420. If it can sustain this level, we may see the rally continue towards 52,254 or even 52,817. The Weekly Trend (50 SMA) is sideways, while the Daily Trend (50 SMA) remains negative. The demand and supply zones remain unchanged from the previous post.
Demand/Support Zones:
Near Demand/Support Zone (Daily): 50,369.40 - 51,420.15 (current price inside the zone)
Near Demand/Support Zone (15m): 51,086.85 - 51,207.85
Far Demand/Support Zone (Daily): 49,654.65 - 49,959.25
Far support at 49,282.65 (61.8% FIBO Level)
Supply/Resistance Zones:
Near Supply/Resistance Zone (15m): 52,254.70 - 52,358.35
Near Supply/Resistance Zone (Daily): 52,817.80 - 53,235.25
Far Supply/Resistance Zone (75m): 53,763.20 - 53,945.10
Far Supply/Resistance Zone (75m): 54,152.50 - 54,338.70
Nifty Intraday Support & Resistance Levels for 11.10.2024On Thursday, Nifty opened with a gap up, reaching a high of 25,134.05 before pulling back to a low of 24,979.40 in the final 30 minutes of trading. It closed slightly higher at 24,998.45, gaining 16 points from the previous session. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) is sideways. Support and resistance zones remain unchanged from the last post.
Demand/Support Zones:
Near Demand/Support Zone (Daily): 24,753.15 - 25,130.50 (current price inside the zone)
Far Demand/Support Zone (Daily): 24,522.95 - 24,636.35
Far Demand/Support Zone (Daily): 24,099.70 - 24,196.50
Far Demand/Support Zone (Weekly): 23,893.70 - 24,419.75
Supply/Resistance Zones:
Near Supply/Resistance Zone (15m): 25,195.85 - 25,234.05
Far Supply/Resistance Zone (15m): 25,420 - 25,485.05
Near Supply/Resistance Zone (Daily): 25,739.20 - 25,907.60
Far Supply/Resistance Zone (Daily): 26,151.40 - 26,277.35
Intraday Levels for 11/10/2024BANKNIFTY Intraday Levels for 11/10/2024
Here are the BANKNIFTY Levels for intraday. Based on market movement, these levels can act as support, resistance or both.
The SL (Stop loss) for each trade should be there.
Note: This idea and these levels are only for learning and educational purpose.
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Nifty Intraday Analysis for 10th October 2024NSE:NIFTY
Index closed near 24980 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
25500 Strike – 121.02 Lakh
25200 Strike – 83.21 Lakh
25300 Strike – 75.18 Lakh
Put Writing
24500 Strike – 24.98 Lakh
25000 Strike – 48.72 Lakh
24800 Strike – 43.97 Lakh
Index has resistance near 25250 – 25300 range and if index crosses and sustains above this level then may reach near 25500 - 25600 range.
Index has immediate support near 24800 – 24700 range and if this support is broken then index may tank near 24550 – 24500 range.
Banknifty Intraday Analysis for 10th October 2024NSE:BANKNIFTY
Index closed near 51005 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
52000 Strike – 12.07 Lakh
51500 Strike – 11.28 Lakh
51000 Strike – 11.19 Lakh
Put Writing
51000 Strike – 11.28 Lakh
50000 Strike – 6.95 Lakh
50500 Strike – 6.10 Lakh
Index has resistance near 51700 – 51800 range and if index crosses and sustains above this level then may reach near 52400 – 52500 range.
Index has immediate support near 50500 – 50400 range and if this support is broken then index may tank near 49900 - 49800 range.
Finnifty Intraday Analysis for 10th October 2024NSE:CNXFINANCE
Index closed near 23545 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
24000 Strike – 3.44 Lakh
23700 Strike – 2.37 Lakh
23800 Strike – 2.26 Lakh
Put Writing
23500 Strike – 2.31 Lakh
23600 Strike – 1.41 Lakh
23700 Strike –1.25 Lakh
Index has resistance near 23750 - 23850 range and if index crosses and sustains above this level then may reach near 24000 - 24100 range.
Index has immediate support near 23350 – 23250 range and if this support is broken then index may tank near 23100 – 23000 range.
Midnifty Intraday Analysis for 10th October 2024NSE:NIFTY_MID_SELECT
Index closed near 12975 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
13000 Strike – 10.89 Lakh
13200 Strike – 5.46 Lakh
13200 Strike – 4.65 Lakh
Put Writing
13000 Strike – 9.30 Lakh
12700 Strike – 8.18 Lakh
12800 Strike – 6.92 Lakh
Index has immediate resistance near 13000 - 13100 range and if index crosses and sustains above this level then may reach 13250 – 13350 range.
Index has immediate support near 12850 – 12750 range and if this support is broken then index may tank near 12650 – 12600 range.
BankNifty levels - Oct 11, 2024Utilizing the support and resistance levels of BankNifty, along with the 5-minute timeframe candlesticks and VWAP, can enhance the precision of trade entries and exits on or near these levels. It is crucial to recognize that these levels are not static, and they undergo alterations as market dynamics evolve.
The dashed lines on the chart indicate the reaction levels, serving as additional points of significance. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior.
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Nifty levels - Oct 11, 2024Nifty support and resistance levels are valuable tools for making informed trading decisions, specifically when combined with the analysis of 5-minute timeframe candlesticks and VWAP. By closely monitoring these levels and observing the price movements within this timeframe, traders can enhance the accuracy of their entry and exit points. It is important to bear in mind that support and resistance levels are not fixed, and they can change over time as market conditions evolve.
The dashed lines on the chart indicate the reaction levels, serving as additional points of significance to consider. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior.
We hope you find this information beneficial in your trading endeavors.
* If you found the idea appealing, kindly tap the Boost icon located below the chart. We encourage you to share your thoughts and comments regarding it.
Wishing you success in your trading activities!
Stock Opportunity: Reliance Consolidation BreakoutBack in December 2023, Reliance gave a major breakout after a 2-year consolidation period and has since rallied 23%. Currently, the stock is trading near its previous breakout level, from which it reversed three times in the past, signaling a potential opportunity for further upside.
However, investors should be cautious as the stock is trading below its 200 EMA on the daily timeframe. While the fundamentals remain strong, it's essential to keep an eye on technical levels and manage risk accordingly.
Stay informed and trade smart! 📊⚠️
Are we heading towards 50000 mark?As we can see despite the strength BANKNIFTY formed more like an inverted hammer pattern and ended up closing below the trendline showing bearishness as analysed hence if BANKNIFTY opens flat then we may see bearishness to continue but it opens strong then we may see another sideways to volatile market so plan your trades accordingly.
BankNifty Intraday Support & Resistance Levels for 10.10.2024On Wednesday, BankNifty opened gap up, briefly crossed the Daily Demand Zone (above 51,420.15) and touched a high of 51,707.15. However, the gains couldn't hold, and it dropped sharply to 50,903.75, closing at 51,007, losing 14 points from the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) continues to be negative. The demand and supply zones remain unchanged from the previous post.
Demand/Support Zones:
Near Demand/Support Zone (Daily): 50,369.40 - 51,420.15 (current price inside the zone)
Far Demand/Support Zone (Daily): 49,654.65 - 49,959.25
Far support: 49,282.65 (61.8% FIBO Level)
Supply/Resistance Zones:
Near supply/resistance zone (15m): 52,254.70 - 52,358.35
Near supply/resistance zone (Daily): 52,817.80 - 53,235.25
Far supply/resistance zone (75m): 53,763.20 - 53,945.10
Far supply/resistance zone (75m): 54,152.50 - 54,338.70
Nifty Intraday Support & Resistance Levels for 10.10.2024On Wednesday, Nifty opened gap up, briefly crossed the Daily Demand zone (above 25,130.50) and reached a high of 25,234.05. However, it couldn't sustain the momentum and dropped to a new day low of 24,947.70, finally closing at 24,981.95, losing 31 points from the previous close. Keep a close watch on the key support level at 61.8% FIBO (24,804.25). The Weekly Trend (50 SMA) is still positive, while the Daily Trend (50 SMA) remains sideways.
Demand/Support Zones:
Near Demand/Support zone (Daily): 24,753.15 - 25,130.50 (current price inside the zone)
Far Demand/Support zone (Daily): 24,522.95 - 24,636.35
Far Demand/Support zone (Daily): 24,099.70 - 24,196.50
Far Demand/Support zone (Weekly): 23,893.70 - 24,419.75
Supply/Resistance Zones:
Near Supply/Resistance Zone (15m): 25,420 - 25,485.05
Near Supply/Resistance Zone (Daily): 25,739.20 - 25,907.60
Far Supply/Resistance Zone (Daily): 26,151.40 - 26,277.35
Intraday Levels for 10/10/2024BANKNIFTY Intraday Levels for 10/10/2024
Here are the BANKNIFTY Levels for intraday. Based on market movement, these levels can act as support, resistance or both.
The SL (Stop loss) for each trade should be there.
Note: This idea and these levels are only for learning and educational purpose.
Your likes /boosts gives us motivation for continued leaning and sharing ideas.
Nifty Intraday Analysis for 09th October 2024NSE:NIFTY
Index closed near 25015 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
25500 Strike – 74.85 Lakh
25200 Strike – 57.99 Lakh
25000 Strike – 51.68 Lakh
Put Writing
25000 Strike – 44.03 Lakh
24500 Strike – 43.71 Lakh
24800 Strike – 31.21 Lakh
Index has resistance near 25250 – 25300 range and if index crosses and sustains above this level then may reach near 25500 - 25600 range.
Index has immediate support near 24800 – 24700 range and if this support is broken then index may tank near 24550 – 24500 range.