Support
Nifty Bank | Support & ResistanceSupport and resistance, the elemental bedrock of markets, guide our journey through chaos. Understanding their significance is vital.
I am explaining how Nifty Bank behaved in previous days with reference to Support and resistance.
You can see how beautifully and powerfully it has worked.
Nifty 50 - 19 July 2023I have clearly explained in my YT video about today's rangebound market and tomorrow's prediction.
Please do watch my old videos in Daily Analysis Playlist to understand the Entry and Exit criteria.
Do follow and subscribe if you like the analysis .
I've Bullish sentiment for tomorrow. Everything depends on tomorrow's market opening.
Trade or invest according to your analysis. This is just my view.
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Swing trade in Gujarat Fluorochemicals.About Company
The company is a leading producer of Fluoro-polymers, Fluoro-specialties, Chemicals, and Refrigerants in India. It ranks among the top five global players in the fluoropolymers market and exports to Europe, Americas, Japan, and Asia.
Technical Analysis
The share price of Fluorochemical is currently at a 30% discount. Over the past two years, the price has been consolidating within a specific range and has been consistently following a strong support line. It tends to go up and then retraces back to the support level.
In the past four days, the price of Fluorochemical has displayed a positive momentum, consistently showing an upward trend. As of now, it has increased by 6%, indicating strong potential for further growth.
While the market continues to reach all-time highs, there are undervalued chemical stocks that remain at lower prices, Gujarat Fluorochemicals is one of those stocks.
Fundamentals.
The company demonstrates strong sales growth year after year, although its profit growth is relatively slower. However, with a ROCE of nearly 30%, this stock showcases promising potential.
Overall, this trade carries a low level of risk. However, if we decide to proceed, we can consider a risk-reward ratio of 1:5.
Just presented my Analysis, do your own research before Analysis.
NMDC DOUBLE BOTTOM NMDC has been falling since more than a year and has now shown signs of bullish nature as the entire market sentiment improves.
NMDC has formed a beautiful double bottom which has been confirmed by the gap up today with good volume. The previous red candles has high volume but no price movement which is a good sign and shows lack of selling pressure.
NMDC weekly chart is also forming a inverted head and shoulders pattern
As the market breaks all time highs and seeks new levels, some stock have not contributed to the previous rally such as reliance and Infosys but these stocks went at very good levels currently. A stock like NMDC is showing a good double bottom and a beautiful risk to reward.
Target: Short term as of chart
Stop loss: Below recent low and support zone
Keep It Simple
Reliance - Classic morning star pattern formationReliance Industries Ltd is trading in a price range of 2200 - 2800 since Sep 2021.
In between this a strong support and resistance formed where 2200 act as a support and 2800 as a resistance.
Last week a bullish candlestick pattern formed in Reliance called Classic Morning Star at support level.
Here are the characteristics of a classic Morning Star pattern:
1. The first candle is a long bearish candlestick, indicating that the bears are in control of the market.
2. The second candle is a short candlestick that gaps down from the previous day's close. This candlestick is also known as a "Doji" and represents indecision in the market.
3. The third candle is a long bullish candlestick that gaps up from the previous day's close. This candlestick represents a shift in momentum from the bears to the bulls.
Morning star candlestick with inverted hammer at support level indicating a lot more.
BankNifty - 17 July 2023I have clearly explained in my YT video about today's preformance and Monday's prediction.
Please do watch my old videos in Daily Analysis Playlist to understand the Entry and Exit criteria.
Do follow and subscribe if you like the analysis .
I expect the market to be Bullish on Monday.
Trade or invest according to your analysis. This is just my view.
<----- 3MRT Trading ----->
BankNifty - 14 July 2023I have clearly explained in my YT video, why our logic failed today in Live market.
Please do watch my old videos in Daily Analysis Playlist to understand the Entry and Exit criteria.
Do follow and subscribe if you like the analysis .
I expect the market to be Bullish Tomorrow.
Trade or invest according to your analysis . This is just my view.
<----- 3MRT Trading ----->
Nifty 50 - 14 July 2023I have clearly explained in my YT video, why our logic failed today in Live market.
Please do watch my old videos in Daily Analysis Playlist to understand the Entry and Exit criteria.
Do follow and subscribe if you like the analysis .
I expect the market to be Bullish Tomorrow.
Trade or invest according to your analysis . This is just my view.
<----- 3MRT Trading ----->
Eicher Motors 🚚 Swing TradeEicher Motors has experienced a downward trend over the past few days, but has recently shown signs of support with a strong bullish candle. As a professional trader, we can consider taking a swing trade by going long on the open of the next candle.
To mitigate potential losses, we will set a stop loss below the support zone with a reasonable buffer. This will help us exit the trade if the market moves against us.
In terms of our target, we will aim for the next resistance zone as marked on the chart. By doing so, we can potentially profit from the uptrend that we anticipate.
As with any trade, it's important to exercise caution and make informed decisions. We must always be prepared for unexpected market movements and adjust our strategy accordingly.
Thank you for considering this trade idea. If you found this analysis helpful, please like and follow me for more insights in the future.
BankNifty Travelling inside Flag pattern in 15 Mints ChartGood Morning Traders,
We have seen Chart and got to know that Banknifty has formed a bullish flag pattern and it is travelling inside the Flag pattern, i am talking behalf of 15 mints chart.
I think today or till tomorrow this should give breakout for upside. Let's see what is happening, we will trade accordingly, but before to that we will find opportunity to trade. There is two strategy ther, first one go with levels which i have marked on chart, 2nd you can buy and sale near to flag support and resistance trendlines if you see any kind of genuine price reversal pattern.
IMPORTANT LEVELS FOR BANKNIFTY:-
Buy above 44880, if levels got sustained at least for 15 mints.
Targets will be 45015/45089
Stop loss will be 44721
Sale below 44649, if levels got sustained at least for 15 mints.
Targets will be 44537/44370
Stop loss will be 44775
Note:- Always wait for the best entry levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction.
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.
Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's.
Thankyou.
Regards
Rahul Pal
Nifty 50 - 12 July 2023I have been explaining the levels and logics behind my trades in my videos.
Live market, Post market analysis and Next trading session's Detailed Analysis has been posted in my YouTube channel.
Please do watch my old videos in Daily Analysis Playlist to understand the Entry and Exit criteria.
Do follow and subscribe if you like the analysis .
I expect the market to be Bullish tomorrow.
Trade or invest according to your analysis. This is just my view.
<----- 3MRT Trading ----->
BankNifty - 12 July 2023I have been explaining the levels and logics behind my trades in my videos.
Live market, Post market analysis and Next trading session's Detailed Analysis has been posted in my YouTube channel.
Please do watch my old videos in Daily Analysis Playlist to understand the Entry and Exit criteria.
Do follow and subscribe if you like the analysis .
I expect the market to be Bullish tomorrow.
Trade or invest according to your analysis. This is just my view.
<----- 3MRT Trading ----->
NIFTY50 - Don't PanicThe blue lines indicate the strong trendlines where the price could take support.
As all can see, the chart has respected most of the Fibonacci levels very well including the strong 1, 1.618 and 2.
My expectation of the short term reversal zone was from the upper half of the 1.618 to 2 zone. Expect some correction next fortnight but it should be a good chance to look for accumulating quality stocks.