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How to Draw Support and Resistance Like a Pro! Support and Resistance are one of the most important aspects of technical analysis but often I see traders doing it wrongly. How to Draw Support and Resistance: Imagine you have a chart filled with SR like the one below. Do you know which levels to pay attention to? When you’re about to start, how to plot support and resistance lines? It’s filled with nothing but lines and it doesn’t seem to make much meaning of the chart at all. nah My approach to drawing Support and Resistance uses either 1 line or 2 lines. It is much cleaner and immediately tells you which area of the chart to pay attention to. I use a single line when price respect a level almost to the pip and i use 2 lines when price bounces off an area. I highlight only the key Support and Resistance of a chart meaning the obvious swing highs and lows. The intermediate SR i will not draw any lines so as to maintain my focus on the key areas. Besides, with enough screen time you can easily identify those intermediate Support and Resistance without any lines. real world… You must keep in mind of the R.S.M. formula. These three things stands for: Reaction Setup Management Now take notes because this is important… Reaction Here’s the truth: Drawing support and resistance lines aren’t the holy grail.
NSE:BANKNIFTYEducation
by EmpireCrown
Mentorship InstaView 27 Oct’21: Disappointing yet Hopeful 
Nifty View: The Nifty benchmark index disappointed in the final hours of today’s session as it slipped below the 18,200 mark to bounce back marginally at the end. Because we had a solid close yesterday, the index showed no follow-through buying today as it could not make a higher high today. On the contrary, it slips to test the immediate short term support range of (18,200-18,250). We are now at an exciting juncture, and the price action in the subsequent two sessions will add a lot of clarity to the next directional movement.    Please watch the video for a detailed analysis of the index and stocks. Thank you for following my work and please feel free to share your thoughts and suggestions.         Trade Well. Trade Wise. 
NSE:NIFTY1!
by Abhijit_Paul
HDFC Bank - Real Options Strategy ExecutedHDFC BANK - OPTIONS STRATEGY EXECUTED IN MY ACCOUNT While I was getting ready to write a post cum video on the Infosys Strategy, I looked at my holdings and realized that HDFC Bank was once again at a make-or-break juncture - 1630. It has turned down from this level quite a few times. So exited half my position at the price and banked the gains. This helped me regain objectivity related to the scrip. And immediately, I thought of checking if I could fund a Bull Call Spread in HDFC Bank with the proceeds that I received from the sale of equity in part. I know smart readers are now calculating how many shares I would have sold and that is OK! I like that kind of approach as it would help you develop your mind to your benefit. I also do such things so I know this is a natural reaction. HDFC Bank is behaving like TCS as it is trying to scale higher highs as it gets ready to face the results that are due on 15-10-21. I know it is a bit too early to execute a strategy for the results but I had the funds today so for me, today was a good day. I chose to create a Bull CE Spread as under:-- Long 1620 CE at 44.30 Short 1640 CE at 36.05 When I executed the strategy, the spot was at 1629.65-1630. EOD is at the same level and my strategy is at cost. Please have a look at the video to know more about the details. In case you are reading this on your mobile App, you may not see the link. Please use a web version and you will see the video link in it. This issue has been flagged with Investing.com already. I will get back to you on 18-11-21 as that is when the scrip would react to the Q2 results. If you want to test a strategy like this, please remember that I am sharing this only for educational and informational purposes only. I believe that by sharing to the extent I can via such posts and videos, even I am able to improve my learnings and readings of the market. Please take good care of you capital as you would be in the game as long as your capital is alive - money would eventually come in once you are good at the process that you end up developing for yourself. Till we meet again, Please keep learning, implementing & making money! Best wishes, Umesh 12-10-21
NSE:HDFCBANKLong
by AVENUESOFINVESTMENT
4
Tata Steel - WaveTalks - Can Tata "Steal" The Shine !!! 250-300+Disclaimer ----------------------------- All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. ---------------------------------------------------------------------------------------------------------------------------- Trading Strategy Tata Steel Tata Steel is a portfolio stock -If I am correct & it holds above 250 (strictly) or later below 250 - we look for buying opportunity close 180-200 zone which another important support for Targets 300 / 520 / Above 520 for 650 & crossing 750 - Wonder Waves (Wave 3)- Waves to behold as written in books. ---------------------------------------------------------------------------------------------------------------------------- Auropharma Last Video Idea - Is it Ready for Explosive Journey !!! ------------------------------------------------------------------------------------------------------------------------ ITC Bullish Bat from 157-158 Zone for 162/165/170/176 ------------------------------------------------------------------------------------------------------------------------------- Nifty Index Selling The Channel Top With Harmonic Pattern at 9850 -------------------------- Wonder Waves Part 1 - Picking The Bottoms at 7700 -------------------------- Wonder Waves Part 2- Can Patterns Repeat at 8055 ------------------------- Wonder Waves Part 3 - Traditional Patterns Target -9600 ------------------------------------------------------------------------------------------------------------------------------- Thanks for watching the video & your precious time.
NSE:TATASTEELLong
by WaveTalks
51
Nifty - Selling at the Channel Top-9850 Disclaimer ----------------------------- All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. ---------------------------------------------------------------------------------------------------------------------------- Trading Strategy ---------------------- Plan A Bullish Butterfly Pattern Valid & Active - Once 9200 crosses & holds as support Target 1 - 9400 Target 2 - Above 9400 for 9500 Target 3 - Above 9500 for 9600 Plan B Reaching in the zone 9600- 9750 - Traders should be careful of Resistance zone formed for Island Reversal Pattern -The most important zone Resistance in 9600- 9750 - Stops in that zone -preferably sell below 9600 or close to 9700 or 9750 levels (Note- No selling above 9700 & No selling above 9750) Downside Targets Target 1 - 9400 Target 2 - 9200 Target 3- Sell Only below 9125-9150 only for 8900 /8700 ------------------------------------------------------------------------------------------------------------------------ Previous Ideas Video Link ------------------------------------------------------------------------------------------------------------------------ Wonder Waves Part 1 - Nifty - Wonder Waves -Picking The Bottoms at 7700 Wonder Waves Part 2 - Nifty -Wonder Waves Part 2-Can Patterns Repeat from Bottoms 8055 Wonder Waves Part 3 - Nifty - Wonder Waves Part 3- Traditional Patterns (Target 9600) ----------------------------------------------------------------------------------------------------------------------------- Thanks for watching this video & your precious time - Have wonderful week ahead
NSE:NIFTY
by WaveTalks
170
ITC - Turned into STC - Will You Buy at 170-172?Disclaimer ----------------------------- All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. --------------------------------------------------------------------------------------------------------------- Targets Upside (Strictly Holding 170's) 176 179 180-182 Above 182-185 - No Trade Zone If Stops in 180-182 ( Strict Stops above 183)-------------Target Downside 179 / 176 / 170 / Below 170 - 158-160 Thanks for watching this video.
NSE:ITCLong
by WaveTalks
66
Nifty -Wonder Waves Part 2-Can Patterns Repeat from Bottoms 8055Disclaimer ----------------------------- All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. --------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Pardon me for saying figures of 80000+ ------------------------------------------------- Trading Strategy Note- Recent Pattern shown in current video idea is not "Head & Shoulder" Pattern as H&S Pattern - Symmetry is very important. We used that geometrical pattern to discuss the upcoming bottoms & demand zone for the Index. Target 1 - Strictly moving above 8100 - 8250 Target 2 - 8350 Target 3 - 8650-8700 Target 4 - Above 8700 - look for 9000+ (Not valid if crosses above 8700 & falls back below 8700) Have a wonderful week ahead. May God bless all of us.
NSE:NIFTYLong
by WaveTalks
90