Support and Resistance
Reason why Marico reversed suddenly ? Marico reversed big in the last trading session because the price reached the major support level ( major because this level plays from 2017 ) which is shown in the analysis. So the price wont reject too big without reason.
Start your analysis in bigger time frame to find this small small clues !!!
TWO PROFITABLE TRADE IN ONE DAY IN ONE SCRIPT1.THE DOJI CANDLE STRATEGY AND
2. THE FIBO STRATEGY
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A BUY WAS GIVEN AT 12.17 AT 2002 IT WENT AND GAVE EASY 1 %
A SECOND BUY WAS GIVEN AFTER FIBO SUPPORT
Natural Gas intrady tradeThe current support for Natural gas is 162.7. If the candel breaks the 162.7 and open new candel below that then it may go down few points.
sell range (162.6-162) Note: only when the candel opens below 162.7
stoploss (164-165)
Target (160-159)
Note: The Target which i Given is based on pivot and previous support & Resistance
This is only for educational purpose only
(Tradeing is Probability)
HDFCLIFE taking trendline support HDFCLIFE taking trendline support on 1HR TF and near support zone.. can enter long if trendline breaks before breaking support zone.
Bank nifty 21-Sep to 25-SepBNF may trade in a zone of 22750 to 21900. Breaking the lower zone of 21900-21800 will lead to 21600-21500. Upper zone of 22750-22850 would be acting as resistance. Breaking 22500 and sustaining above will change things completely for a target of 22700, 22900 & 23000.
INTRADAY TRADING PSYCHOLOGY (near LONG TERM SUPPORT/RESISTANCE)I come across many times when people fall in trap when they see breaking of long term support or resistance in intraday by merely seeing on small timeframe (TF) like (1-5 mins).
I suggest those friends to wait for the confirmation of such breakout on higher timeframe like 15-30 minutes atleast.
In this example I would like to make you understand this psychology and how you can make most of it in intraday trading.
Bharatforge started falling right from the beginning and broke its long term support at smaller TF and you can see how they trapped the bears.
(You can see many examples like this on this day like which I traded in PEL (Horizontal support 1300) and BPCL (Trendline support) We could have initiated a countertrend trading when it came above the support but that I will not recommend if you are not pro.
Instead, bharatforge formed a beautiful double bottom at this support (bullish piercing candle pattern as well). So, this trade becomes high probable with first target to swing high. SL to be maintained below the support.
So, in intraday FIND SUPPORT / RESISTANCE and FIND PATTERN. This way you can make consistence profit.
Thank You. Happy Trading
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.
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.
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
