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BE CAUTIOUS.... QUADRUPLE WITCHING DAY!!We might still be in wave 4 of the Primary Elliot wave. US markets rallied last night, so we may expect a gap-up opening of around 100 points. 17220 - 17270 zone might act as a strong resistance zone (0.5 to 0.618 Fibonacci retracement of wave 3) Quadruple witching refers to a date when stock index futures, stock index options, stock options, and single stock futures expire simultaneously. It is generally on the third Friday of March, June, September, and December every year. Is quadruple witching bullish or bearish? We learned that volatility is slightly higher than any normal trading day, volume is higher than the normal, the quadruple witching day is a bearish day, the quadruple witching week is bullish, and the last hour of quadruple watching day is bearish. (From tradestation.com) We didn't have a bullish week, so market movements may be unpredictable. Stong closing above 17270 in 30 min candle (stop loss for a short trade) can be a sign of bullishness. If the market falls, wave 5 can take nifty to the 16800 level. Enjoy the volatile ride!
NSE:NIFTYShort
by Stock-Holmes
ASIANPAINT - Trade/Investment - Bounce from Crucial SupportThe analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets. Trade setup is explained in image itself. Second target is calculated based on range calculation method in technical analysis. The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade Checkout my other ideas to understand how one can earn from stock markets with simple trade setups. Feel Free to comment below this or connect with me for any query or suggestion regarding this stock or Price Action Analysis
NSE:ASIANPAINTLong
by TradewithAditya
BANK NIFTY TRADE PLAN FOR 05-01-2023Bank Nifty is at Crucial Support of 43000 Zone. In my view, Bank Nifty is more Bullish than Nifty in the Long term. 1. Bank Nifty Closed below 43000, But is still in the Support Zone. We can plan Buying based on Price action today and we can achieve a Good RR Ratio of more than 1:2 and 1:3. 2. If Bank Nifty sustains below 43000 and breaks the support trendline, I will plan to sell on Proper Retest. 42500 Zone will be Big Support in my view because Bank nifty is forming inside candle patterns in Daily TF and the Low of Mother Candle is 42500. ps: Budget Session is ahead - Trade with Proper Risk Management.
NSE:BANKNIFTY
by nellurimahesh
NIFTY 50 TRADE PLAN FOR 05-01-2023NIFTY is at Crucial Support of the 18000 zone and today is the weekly expiry. Therefore we can expect volatility in the market and there can be Fake Breakouts. 1. Nifty closed at 0.5 FIB Zone and if it sustains there and crosses 0.382 FIB along with the resistance trendline, Will take a bullish entry on a proper retest. 2. If Nifty breaks the 18000 zone and Important hourly support trend line. My view will be bearish for the short term. The next support will be 17800. There are many GAPS pending below 17800 and I think market will fill those gaps, once 17800 is broken ps: Budget Session is ahead - Trade with Proper Risk Management.
NSE:NIFTY
by nellurimahesh
1
Positional Long in JK PAPER - (Detailed method to trade below)NSE:JKPAPER This one is giving a breakout from what looks like an inverse head and shoulder pattern, which hints at continuation of the ongoing major bull trend in the stock. Breakout has been accompanied with good bursts of volume activity. Also, it has occured on a day where major indices and the broader market is considerably weak. Pattern targets come at 510, with two different SLs which one can take. A tighter SL below the low of the breakout candle where also lies the 20 Day moving average gives a R:R of 1:2.4 A deeper SL, below the latest swing low, where also lies the cluster of 50 Day & 100 Day moving averages, as well as the monthly pivot point, also gives a decent R:R of 1:1.7 Ill tell you how I trade this types of breakout where it is a bit extended or the ideal entry point is just out of reach. I would buy half of my desired quantity right now, and wait for the day end to get confirmation of the breakout to build my desired position. In this way, there is less fomo if it continues to burst upwards, and you can then add further qtys as it consolidates again and makes new highs. If it falls back, re-tests and then rises again, then this gives you an opportunity to build your other half of the position at a lower rate and bring down the average cost. If it falls back and fails to bounce again / gives a false breakout, then with you being only half the desired quantity, you'll lose lesser than usual too!
NSE:JKPAPERLong
by aniketkulkarni500
Nath Industries - Trading in a good support level🔴DISCLAIMER ***** It's just for an educational purpose, So you must also follow your own technical analysis before taking up the trades ****** Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout) Ideal Target and Stop Loss should be minimum 1:2 RRR (Risk reward ratio) After reaching our targets, Book 50% Profits and trail your stop loss to get maximum profits from rest of the 50% in your trade.
BSE:NATHINDLong
by PrakWorld_Traders