Get started

Supportandresitance

Day 33 of Live Algo Day Trading JournalDay 33: Good day but did not turn out good for me today. Algo gave me entry in the morning, turned out profitable, but subsequent two entries took away all the profit. Overall a negative with minor loss. Progress: Stuck to the algo even when was sure that we are near the support and should have taken profit. So, no manual trading today. Learning/ to ponder: When market takes away your earnings, should you solely rely on algo ? I am thinking of changing it to stop it once a desired profit target has been achieved and take no more trades...... What are your thoughts on this ? Let it run or stop and get out ?
NSE:INDUSINDBK
by Hiren1
Mahanagar Gas Ltd.Hi, A Bullish Flag & Pole pattern is visible on the daily chart of NSE:MGL after consolidation of around a month. Daily MACD have given negative crossover on 12'Feb 24 and it is turning to bullish. On weekly and monthly charts the MACD has already given a positive crossover. So, expecting the momentum to continue. All the Levels with proper stoploss mentioned on the chart are for educational purpose. Consult your financial advisor before making any investment decision.
NSE:MGLLong
by raigvivek
1
Long Position in Natural GasNatural Gas has broken important support zone of 160-165 this week & now trading at 135. Natural gas is approaching its next major support zone of 128-120 CMP is 135 & I'm opening long position in futures. I'll add more position if 125-126 comes. SL would be below 119 Targets I'm expecting are 158 and 167 which was support zone before & now a resistance. Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
MCX:NATURALGAS1!Long
by akshit_official
6
01 Mar ’24 — Nifty beats the double-top & goes GREENNifty Analysis - Stance Bullish ⬆️ Recap from yesterday: “On the higher timeframe, the last candle of the day stands out, ample GREENery for the Bulls to feast. We are not removing the double top (M pattern) for now, because to negate that Nifty50 has to take out the ATH.” 4mts chart Was the Nifty’s price action predictable in the last 2 days? What do you think after reading our post-mortem reports? Yesterday we had a rally from the support 21913 to the resistance 22051. And today we briefly touched 22051 support and then surged upwards. Today’s price action was 100% Bull dominated - we did not even have a retracement. Nifty ended the day with a gain of 355 points ~ 1.62%. The odd man out today was NiftyIT, which did not want to participate in the rally and instead went the other way. It ended the day with a loss of 204 points. BankNifty played a pivotal role today in helping Nifty50 take out its ATH, it is official - the new highs are 22353.3. And we may also have followthrough momentum tomorrow during the special trading session. On the higher time frame chart, 2 things happened today. Firstly, we broke past the 22051 support/resistance zone which meant we did not have any more resistance. Secondly, N50 went above the double-top pattern - negating that, so from the next day’s report it will get removed. Our stance is now bullish and agrees with what we had in mind yesterday. We were just waiting for the double-top pattern to be negated. 63mts chart
NSE:NIFTYLong
by viswaram
29 Jan ’24 — A flag like formation on 63mts TF - BankNiftyBankNifty Analysis - Stance Neutral ➡️ BankNifty also gets a stance upgrade - from bearish to neutral. The price action was not as beautiful as Nifty50 today. One reason would be the outlier performance by Reliance today +7%, whereas the main weightlifters for BankNifty were HDFCBK 1.38%, Kotak +3.08%, ICICBank 0.64%. 4mts chart The support/resistance of 45399 was in play today and it proved quite sticky. Although BN got to this level by 09.31 - we never had a strong breakout today. On the 4mts TF it appears we broke the resistance between 09.59 to 11.15 - but it was not strong enough as we fell back to it by 11.19. On a close-to-close basis, BankNifty gained an impressive 576pts ~ 1.28% but the charts do not signify a bullishness yet. 63mts chart The pattern formed today more or less looks like a flag formation - so the bullishness could come at any moment. BankNifty has a lot of catching up to do, so the run could get quite wild too. If the FII selling in HDFCBK has ended, it could be a good relief to the Bulls. We have changed the stance from bearish to neutral as BN has defended the 44542 support & is just above the 45399 SR. The moment we break these supports, we will go back to bearish mode. Algo Trading Our BankNifty algo trades ended today with a loss of 608 rupees per lot
NSE:BANKNIFTY
by viswaram
Bullish Flag Pattern BO in Intense TechnologiesIntroduction: Intense Technologies been positioned amongst AnyPrem CCM Software Leaders in 2022 Aspire CCM-CXM Leaderboard™.We have been positioned amongst AnyPrem Customer Communications Management (CCM) Software Leaders for Telecom, Insurance, Public Sector and Utilities verticals in the 2022 Aspire CCM-CXM Leaderboard™. Also, we are recognized as a ‘Leader’ in two other segments Vendor Hosted SAAS CCM and Communications Experience Platform (CXP) for the Utilities and Telecom verticals. Analysis A Bullish Flag and Pole pattern is visible on the Daily chart of NSE:INTENTECH The Flag and Pole pattern is a bullish continuation pattern and it is visible in charts after a meaningful appreciation in the price. MACD gave Positive crossover on Daily, Weekly and Monthly chart. So, expecting the momentum to continue. One can create a fresh position in the scrip near Rs. 105-109 levels with the stoploss of Rs. 95 on Daily closing basis for the following targets 113.15, 117.25, 121.05, 125.15 and 129.60 Risk Disclaimer: The trading ideas and analyses presented here are for educational purposes only and do not constitute financial advice. Trading and investing in financial markets involve risk. You should carefully consider your own financial situation, risk tolerance, and investment objectives before making any investment decisions. The information provided in this analysis is based on my personal interpretation of market conditions and the available data at the time of writing. It is subject to change without notice, and I cannot guarantee the accuracy, completeness, or timeliness of the information provided. Trading and investing carry the risk of substantial losses, and past performance is not indicative of future results. Always be aware that markets can be unpredictable, and prices may move against your trade or investment. It is advisable to seek advice from a qualified financial professional and to conduct your own research before making any investment decisions. You should only invest funds that you can afford to lose. I am not responsible for any trades or investments made based on the information presented in this analysis. By reading and using this information, you acknowledge and accept that you are solely responsible for any losses you may incur.
NSE:INTENTECHLong
by raigvivek