Support and Resistance
Alarming signs in banknifty!Banknifty has broken its range bound structure which started on from 9th september.
BANKNIFTY LEVELS 18/09/2020Currently sitting at a support zone of 22280-22300. Break below this can take us to 22090. Above 22300 we have 22505, 22650. Have a look on the chart for the support and resistance levels.
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Professional Trader | Experience: 2.5 Years
NOTE: The above mentioned views are for educational purposes only. You acknowledge the fact that you are alone responsible for your profits and losses, we won't be responsible for any kind of loss that you might incur by following our signals.
NIFTY LEVELS 18/09/2020 BREAK OR BOUNCEBreak of 11510 support, will lead to a fall towards 11450, 11370. Bounce off from 11510 support will lead to 11565, 11612. Have a look on the chart for the support and resistance levels.
Share your opinion in the comment section below, and like and follow for daily market analysis !
Professional Trader | Experience: 2.5 Years
NOTE: The above mentioned views are for educational purposes only. You acknowledge the fact that you are alone responsible for your profits and losses, we won't be responsible for any kind of loss that you might incur by following our signals.
Educational - Camrilla narrow range pivot breakaway setupStocks whose camrilla pivot getting narrow are high probable setup for breakout trade. Ensure confluence of :
1.Day's H3 and L3 inside previous day
2.Narrow range H3 and L3
3.range of H3 and L3 getting narrow in consecutive days
4.Volumes coming in
DM me for chartink scanner for selecting such stocks previous day.
Nifty in coming weeksPrice may find hard to move beyond the SUPPLY zone. It may retest the DEMAND zone ~11300-11200. After clear accumulation, price will move up. Gap created on 4-Sep may be filled.
For week Sep14-17:
UPPER ZONE: ~11500 - 11600
LOWER ZONE 1: ~11300 - 11200
LOWER ZONE 2: ~11000 - 10900
Educational - Camrialla H3 reversal trade
Price tested H3 levels of Camrilla pivots . H3 levels are uptrend reversal levels when in confluence with multiple resistances confirmation. L3 is another trend reversal pivot , which got crossed by volumes and wide range candles. H3 to L3 and vice versa trades occurs frequently.
How to trade your analysis ?Most traders have difficulty to trade, though they do analysis previous day. Gap up or gap down confuses them. So how to trade? During market hours the emotions are high. At that time you wont find the support & resistance properly. Thats why you are pre planning your trades. So when the market gives you surprises, you will be ready for it.
In my axis bank analysis, I have marked the resistances as my targets. 450 is support, 455 is first resistance etc. Now market opened above my entry. I waited and watched whether it is taking support. It took support & I entered. Trend was not getting strength. So I booked at resistance 1.
Here position sizing & money management also plays an important role.
Dont expect market to move as per your wish. Instead trade as per the market move.
Bank Nifty in coming weeksPrice may retest the DEMAND zone and will fill the gap created on 21-Aug. It may be side wards for a couple of days as the volume is clearly accumulated at lower price (~22250-22300) by big players. I guess price may be lowered further and clear accumulation may happen. If the trend line (Green line) breaks then the next DEMAND zone would be (~21600-21700). Every time the retest of the demand zone happens then its followed by a clear up move.
For week Sep14-17:
UPPER LIMIT: ~22750-22800
LOWER LIMIT 1: ~22100-22000
LOWER LIMIT 2: ~21700-21600
High Probability Fibonacci Retracement SetupThis educational idea shows how to use Fibonacci tool properly. It also shows how to achieve maximum probability while using the tool.
moving average example ( random )moving average ( here , SIMPLE MOVING AVERAGE ) is useful in trend trade
Buy coromandal international for short term gainMy idea is purely educational.
Buy Coromandal Intl in the range of 790-800 for immediate target of 840 and then to 880 by the end of this week only.
Educational Swing trade in hindsight - not a future trade.Made swing low of 875 - 1108. Draw Fibonacci levels from swing high to swing low. Made shooting star price pattern (14th July) and bullish hammer (10th august) near Fibonacci 61 percent levels. Entry could have been in buy zone and target as near term resistance (1071) and Stop loss at swing low (875). 10 percent gain in a month could have been achieved.
Buy APPLTD for short term gainMy idea is for purely educational.
APPLTD can be bought around 990-1000 for immediate target of 1130 then to 1200. Time period is one week.
Buy GMMPfaudler for short term gainMy view is purely educational.
GMM pfaudler can be bought in the range of 5900-6000 for short term (1 week) for the target of 6600 and then to 6900.
