** NIFTY IT index outlook for the next few months **Hello Traders., Today its 9 Dec evening..
We have found a descending triangle just at the top of the rally in the NIFTY IT index. And the Triangle is going to break.
Two things to watch out from here.. i) Firstly a huge momentum will be followed in the IT stocks when the triangle pattern breaks either on the upside or on the downside,
ii) Secondly the trend will be set and always follow the trend .
So please be careful in the investments that you take in the IT index stocks.
It's not long that we might see a good correction or a positive upside in the IT stocks .
I am not saying you to short or be long the IT stocks tomorrow but the Outlook is a terrifying . So please have a look. Time will say everything. Have patience.
TCS
TCS 100% Profit Trade🤑#we will make only profit.
1st Today starting 45 min market Go up than its a strong chance we can achieve 2 Target but if any Bad News came than TCS achieve 1 Target .
2nd If you know Price action than se its a breakout But Not confirm Now.
3rd Today will be Clear we go up or Down.
4th All MACD try to be Enter in a bearish Zone.
5th stop loss jetna aap dene ko Ready ho
6th Play safe in Market There is No Guaranty in NOV<DEC<JAN Because Market Crash Any Time With Small Useless NEWS
#If you need any help comment or message me.
TCS- Next support after 250pts downsideTCS has broken the EMAs after facing resistance at camarilla R3. Next support could be at Camarilla S3 level - 3,232 - which is around 250 pts below current close. Stock looks to be in clear bear zone with EMA levels lined up in reverse in support of a continued down move. It may be better to wait for the stock to take support and show strength before going long. Current repulsion from R3 suggests a short trade could be the way to go. Is there a catalyst that can reverse the slide...let us find out in the next few trading sessions.
TCS Intraday Trading Set up 1 - S&R + EMAs15 MINS 100 EMA @ 3530
SELL IF THE ZONE IS broken with selling volume .
If 3575 is broken with volume , we will see more upside.
The Indicator Used:
1) Support/Resistance Levels are marked on the charts
2) Valuation band
KEYS: Red Faded Cloud: Over Valuation.
Grey Faded Cloud: Proper Valuation.
Green Faded Cloud: Under Valuation.
3) TE-REKAB - Proprietary Indicator
KEYS:
PB: Pullback
Blue Candle: Selling Divergence
Yellow Candle: Buying Divergence
If you like the analysis, do leave a like and follow for more such content coming up.
The analysis is my POV , hope you got bucks in your pocket to consult a financial advisor before investing :P :)
HAPPY TRADING!!!
Indices lose early gains, end the day on a flat noteNIFTY 50 EOD ANALYSIS 15-11-21
In this post, I talk about the analysis for the day and the trading range for tomorrow. The video discusses with the help of the charts how the indices as well as leading stocks performed during the day and their likely play tomorrow.
O 18140.95
H 18210.15
L 18071.30
C 18109.45
EOD - +6.70 points / +0.04%
SGX Nifty 15-11-21 @ 1840h = +28 points
FII DII = +1948 Crores
CHART BASED CONCLUSIONS using 5 Minutes Chart
Nifty opened gap-up and hit an intraday resistance around 18200 and then never made any serious efforts to go back up again.
Nifty made a higher high and a higher low.
Another key point was that Nifty OHLC was above 18050.
Nifty ended on a flat note thanks to the weighted average close method.
It is hard to say if Nifty is weaker or Bank Nifty is weaker.
NIFTY WEIGHT LIFTERS & DRAGGERS
Top 5 Lifters contributed = 57
Top 5 Draggers contributed = 64
Net = -7
POSITIVES
Nifty OHLC was above 18050.
The sleeping giant ITC saved the day for Nifty along with Kotak Bank, TCS, and Infosys.
Bank Nifty somehow managed to close above 38700.
HDFC made a good up move at the open and immediately fell by 40+ points but managed to close at 3000.
FII-DIIs are both net buyers which is a good sign on a day when the indices ended flat.
NEGATIVES
The inability of indices to stay at higher levels is not a good sign.
Despite HDFC Bank being positive, it lacked buying interest for it to lift the indices.
TRADING RANGE FOR 16-18 November 2021
Nifty Support 17800-900
Nifty resistance 18150-18200-18250-300
Bank Nifty Support 38000-200-400
Bank Nifty Resistance 38800-39000-39200
INSIGHTS / OBSERVATIONS
Bank Nifty finding it hard to clear 38900 on spot and 39000+ on Futures.
During the day at many stages, it appeared that there are selling orders getting executed by the big players as some of the key stocks that I was tracking went down together, then halted for a few minutes before going back up again and then again coming down. This happened a few times.
I recollect having read on similar lines in one of the books that related to using the price action to read what the bigger players were doing in the market. I am unable to recollect the name of the book.
In technical analysis, it is generally stated that buy what is going up and sell what is going down. In my view, this does not hold good for HDFC Bank. In its case, it should be the other way. Buy when it is going down and sell when it is going up. It rarely follows a consistent price action - it may be a good scrip for patient investors, but for a trader like me, I would rather trade in other banks than in HDFC Bank. The intent is to make money and not show loyalty.
Today also, Bank Nifty ended below 765-775.
What do you feel about this?
Here is the video link --
Thank you, and Happy Money Making!
Umesh
15-11--21
NOTE --
This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title, as well as its contents, can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right.
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