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Support and Resistance

Stock Study: Manorama Industries (Swing Trade)📊 Stock Overview: 1) Pattern Formation: Manorama Industries has formed a basing continuation pattern on the daily timeframe. This pattern is often a bullish signal, indicating the stock is consolidating before continuing its previous upward trend. 2) Breakout: Recently, the stock gave a breakout from this continuation pattern, confirming the potential for an upward move. 🔍 Historical Performance: 1) The same pattern was observed previously, and the stock delivered 19-20% returns following the breakout. 2) Given the similar technical setup, we expect a similar move in the upcoming weeks. 📈 Technical Indicators: 1) Volume Surge: A breakout accompanied by higher-than-average volume adds confidence to the validity of the move. 2) Momentum Indicators: Keep an eye on momentum indicators such as RSI or MACD to confirm bullish momentum as the stock moves higher. 🔑 Action Plan: 1) Entry: With the breakout confirmed, this stock looks like a good candidate for a swing trade. An entry at the current price levels or slight pullbacks could be considered. 2) Stop-loss: A well-placed stop-loss just below the breakout point or the previous support area will help manage risk. Target: Based on past performance, we anticipate a potential return of 19-20% in the coming weeks. 🚨 Disclaimer: This analysis is based on historical patterns and technical factors, but always consider market conditions and risk management before entering any trade.
NSE:MANORAMALong
by TechnoTrader10
Stock Study: Power Grid📊 Stock Overview: 1) Trendline Since Nov 2023: Power Grid has been trending steadily, respecting a rising trendline that has been tested 4 times since November 2023. 2) Crucial Support Zone: The stock is currently trading at a critical support level where: 1) The trendline support converges with a horizontal support area. 2) This level has acted as a reversal point for the stock on three previous occasions. 🔍 Technical Indicators: 1) Trendline Support: The stock is retesting a key support trendline, which historically has provided strong buying opportunities. 2) Horizontal Support: This horizontal level has served as a pivot point, triggering rebounds multiple times in the past. 3) Volume: Check for increasing volume near this support, which would confirm a stronger likelihood of a reversal. 4) RSI: Look for the Relative Strength Index (RSI) to give an oversold signal, hinting at a possible reversal if the RSI starts turning upward. 📈 Potential Scenarios: 1) Bullish Case: If Power Grid holds above the trendline and horizontal support area, we could see another upward move as seen in past reversals. 2) Bearish Case: A breakdown below this level would invalidate the trendline, and further downside could be expected, so caution is needed. 🔑 Action Plan: 1) Entry: A potential entry point could be considered near the current support level, but keep an eye on volume and candlestick confirmations for added conviction. 2) Stop-loss: A tight stop-loss just below the trendline/horizontal support zone is advisable to limit downside risk. Target: Previous swing highs or any key resistance levels can be used as potential targets.
NSE:POWERGRIDLong
by TechnoTrader10
Showing Strength on MultiTimeFrame after Taking Support.NSE:FINEORG is showing signs of strength after taking support on the daily time frame, the counter is still in an uptrend and strong in the Multitime Frame. A Close above 5668 will activate the trade. The Support marked is Crucial going forward. NSE:FINEORG is engaged in and outside India as the largest manufacturer, processor, supplier, distributor, dealer, importer, and exporter of a wide range of oleochemical-based additives used in foods, plastics, cosmetics, coatings and other speciality applications in various industries. It is among the six largest global players. Check out my other stock ideas below until this trade gets activated, I would love your feedback. Disclaimer: This analysis is intended solely for informational and educational purposes and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.
NSE:FINEORGLong
by Karanshah137
BANKNIFTY 1HRINTRADAY TRADE TRADE FOR OPTION BUYERS.. - EARN WITH ME DAILY 10K-20K – BANKNIFTY Looking good for upside.. When it break level 51897 and sustain.. it will go upside... BUY@ 51897 Target 1st 52264 2nd 52546 FNO BANKNIFTY OCT FUT – LOT 9 (Qty-135) BANKNIFTY OCT 51800 CE – LOT 1 (Qty-15) – PRICE (757.10) Enjoy trading traders.. Keep add this STOCK in your watch list.. Big Investor are welcome.. Like this Post??? Hit like button..!!! Follow me for FREE Educational Post and Alert..
NSE:BANKNIFTYLong
by Prashant019
Nifty Intraday Analysis for 15th October 2024NSE:NIFTY Index closed near 25130 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 25500 Strike – 52.60 Lakh 25200 Strike – 46.27 Lakh 25000 Strike – 37.19 Lakh Put Writing 25000 Strike – 66.99 Lakh 24900 Strike – 36.96 Lakh 24500 Strike – 32.24 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 25000 – 24950 range and if this support is broken then index may tank near 24850 – 24800 range.
NSE:NIFTYLong
by RKMAURYA
Banknifty Intraday Analysis for 15th October 2024NSE:BANKNIFTY Index closed near 51815 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 53000 Strike – 24.82 Lakh 52000 Strike – 24.00 Lakh 52500 Strike – 21.66 Lakh Put Writing 51000 Strike – 28.55 Lakh 51500 Strike – 23.29 Lakh 50000 Strike – 21.70 Lakh Index has resistance near 52000 – 52100 range and if index crosses and sustains above this level then may reach near 52600 – 52600 range. Index has immediate support near 51500 – 51400 range and if this support is broken then index may tank near 51000 - 50900 range.
NSE:BANKNIFTYLong
by RKMAURYA
Finnifty Intraday Analysis for 15th October 2024NSE:CNXFINANCE Index closed near 23860 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 24500 Strike – 22.67 Lakh 24000 Strike – 21.91 Lakh 24200 Strike – 16.81 Lakh Put Writing 23500 Strike – 18.02 Lakh 23700 Strike – 15.12 Lakh 23800 Strike – 13.15 Lakh Index has resistance near 23950 - 24050 range and if index crosses and sustains above this level then may reach near 24200 - 24250 range. Index has immediate support near 23750 – 23650 range and if this support is broken then index may tank near 24500 – 24450 range.
NSE:CNXFINANCELong
by RKMAURYA
Midnifty Intraday Analysis for 15th October 2024NSE:NIFTY_MID_SELECT Index closed near 13105 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 13500 Strike – 7.43 Lakh 13000 Strike – 6.71 Lakh 13100 Strike – 5.17 Lakh Put Writing 13000 Strike – 7.73 Lakh 13100 Strike – 5.04 Lakh 12800 Strike – 3.47 Lakh Index has immediate resistance near 13150 - 13200 range and if index crosses and sustains above this level then may reach 13350 – 13400 range. Index has immediate support near 12950 – 12900 range and if this support is broken then index may tank near 12850 – 12800 range.
NLong
by RKMAURYA
BankNifty levels - Oct 16, 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. We trust that this information proves valuable to you. * 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 successful trading endeavors!
NSE:BANKNIFTY
by sacxe
Nifty levels - Oct 16, 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!
NSE:NIFTY
by sacxe
GOLD SHOWING A GOOD DOWN MOVE WITH 1:10 RISK REWARD XAUUSD SHOWING A GOOD DOWN MOVE WITH 1:10 RISK REWARD DUE TO THESE REASON A. its following a rectangle pattern that stocked the market which preventing the market to move any one direction now it trying to break the strong resistant lable B. after the break of this rectangle it will boost the market potential for break C. also its resisting from a strong neckline the neckline also got weeker ald the price is ready to break in the outer region all of these reason are indicating the same thing its ready for breakout BREAKOUT trading are follws good risk reward please dont use more than one percentage of your capitalfollow risk reward and tradeing rules that will help you to to become a better trader thank you
FX:XAUUSDShort
by tradergyan01
6
#banknifty - 15 October NSE:BANKNIFTY Support and resistance are key concepts in technical analysis used to identify potential price levels where assets may reverse or stall. Support: -Definition: A support level is a price point where buying interest is strong enough to overcome selling pressure, preventing the price from falling further. - Indicators: Support levels can be identified through historical price data, trend lines, or moving averages. - Behavior: When a price approaches support, it may bounce back up. If broken, it can become a new resistance level. Resistance: - Definition: A resistance level is a price point where selling interest is strong enough to overcome buying pressure, preventing the price from rising further. - Indicators: Similar to support, resistance levels can be identified through past price action, trend lines, or moving averages. - Behavior: When the price approaches resistance, it may retreat. If broken, it can turn into a new support level. Importance: - Trade Decisions: Traders use these levels to make buy or sell decisions, set stop-loss orders, and identify potential profit targets. - Market Psychology: Support and resistance levels reflect market sentiment and the balance between supply and demand. Understanding these concepts can enhance trading strategies and improve decision-making. Only for educational purposes. This content is not a recommendation to buy and sell. Not SEBI REGISTRAR.
NSE:BANKNIFTYLong
by thetradeforecast
1
BankNifty Intraday Support & Resistance Levels for 15.10.2024On Monday, BankNifty opened with a gap up, surged through the 15-minute supply zone, and hit a high of 51,893. It closed strong at 51,816.90, gaining 644 points from the previous close. BankNifty is now showing signs of a retracement move as it exited the Daily Demand Zone and reached a six-day high. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) is negative. BankNifty Demand/Support Zones for 15.10.2024: Near Demand/Support Zone (Daily): 50,369.40 - 51,420.15 (tested) Near Demand/Support Zone (125m): 51,005.85 - 51,246.50 Far Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far support at 49,282.65 (61.8% FIBO Level) BankNifty Supply/Resistance Zones for 15.10.2024: Near Supply/Resistance Zone (15m): 52,254.70 - 52,358.35 Far Supply/Resistance Zone (15m): 52,417.40 - 52,562.70 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
NSE:BANKNIFTY
by PriteshPal
Nifty Intraday Support & Resistance Levels for 15.10.2024On Monday, Nifty opened with a gap up, reaching a high of 25,159.75 before closing at 25,127.95, gaining 163 points from the previous close. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) continues to be sideways. Nifty Demand/Support Zones for 15.10.2024: 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 Nifty Supply/Resistance Zones for 15.10.2024: 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
NSE:NIFTY
by PriteshPal
Apollo Tyre Long Term AnalysisApollo Tyres: Technical and Fundamental Analysis Technical Analysis Long-Term Trendline A strong 2-year trendline has been established This trendline has provided support 7 times on the daily chart Current Market Situation The market is currently attempting to take support at this trendline If support holds, it could indicate continued upward momentum Potential Breakdown Scenario If the trendline support doesn't hold or breaks A buying opportunity may present itself around the 440 levels This could offer a favorable entry point for investors Fundamental Analysis : ✨ Company Overview 💹 Apollo Tyres is one of India's leading tire manufacturers The company has a significant presence in both domestic and international markets Key Fundamental Points Market Position: Strong market share in the Indian tire industry Product Range: Diverse portfolio covering passenger cars, commercial vehicles, and two-wheelers Global Presence: Operations in multiple countries, including Europe Financial Health: Raw Material Sensitivity: Profitability can be impacted by rubber price fluctuations Growth Drivers Increasing automobile sales in India Growing demand for replacement tires Expansion in international markets, particularly Europe Focus on premium tire segments Risks to Consider Volatility in raw material prices Intense competition in the domestic and international markets Economic slowdowns affecting automobile sales Regulatory changes related to environmental concerns Conclusion The technical analysis suggests a potential buying opportunity if the stock breaks below the long-term trendline, with a entry around 440 levels. Fundamentally, Apollo Tyres presents a mixed picture with strong market position and growth potential, balanced against industry-specific risks. Investors should weigh both technical and fundamental factors in their decision-making process.
NSE:APOLLOTYRE
by DragonFly-Trading