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.
Support and Resistance
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.
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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.
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Nifty Analysis for Long Term View Previous Bullish View (4th October)
Strong candle closed on the trendline
Nifty moved up 200 points post-closure
Current Scenario
Reversal occurred
Closed below the trendline
Trendline currently acting as resistance
Bullish Scenario Requirements
Nifty needs to make a strong close above the trendline
Key Points for Traders
Watch for a convincing break and close above the trendline
Monitor volume on bullish moves
Be cautious of false breakouts; confirm with subsequent price action
Consider the broader market context and any upcoming economic events
Mighty Nifty - Oct 10Price was volatile in the morning session and trending in the afternoon session. And now price is at support.
Pattern : Support/Resistance.
Range : Good.
Trend strength : Normal.
Buy Above : 25040.
Stop Loss : 25000.
Targets : 25080, 25120, 25160 and 25220.
Sell below : 24960.
Stop Loss : 25000.
Targets : 24960, 24920, 24880 and 24850.
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Market Analysis -NIFTY 50 - 10th oct24Market Analysis NIFTY 50 - 10th oct 24 - NIFTY opened 25068 ,
Nearest SUPPORT - 25053- Pivot , next support 24980- PSY +Trendline of last swing+CP - should breakdown this level for bearish move, Panic and down momentum continues below 24943 ,
RESISTANCE should start trading above trendline coming from top then 25150,25247 should be confirmed for Bullish move #NIFTY #niftyanalysis #nifty50 #niftyprediction #banknifty #stockmarket #marketanalysis
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
Nifty weekly expiry analysis for 10/10/2024Market has given a nice movement and for two days it remained in a range but is volatile.
There are chance of market either follow the bearish trend or form a 'W' pattern.
Nifty has closed around crucial levels from where it can either reverse the trend or continue falling.
Major support level :- 24760, 24600
Resistance level :- 25210, 25480
The weekly expiry can show a trending move after a break out or break down.
Wait for the price action near the levels before entering the market.