NIFTY Breakout with a good upside potentialHello traders today i want to share an Educational post about Opening range breakout a very common and old strategy used by many traders and it's still pretty effective
Good breakout is observed in the 15m timeframe. This index is a fantastic compounder and has excellent fundamentals and technicals.
There is an immediate upside
NOTE- Only for Education Purpose. This is not any kind of Trading advice I am giving by this analysis.
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Trend Lines
NIFTY FIN SERVICE FOR 02 SEP#Execution only after break and close above or below from resistance or support 15-minute candle.
#Stop Loss above or below from resistance or support 15-minute candle.
(S/R Levels Will be Flipped in The Situation of Gap up OR Gap down Open, Support Will Turn in Resistance and Resistance Will Turn in Support)
(This Analysis and idea is based only on support and resistance mechanism, Buy after resistance break and close above sell after support break and close below, Closing below resistance after trade will be stop loss likewise closing above support will be a stop loss after trade)
NOTE- Only for Education Purpose. This is not any kind of Trading advice I am giving by this analysis.
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BANKNIFTY FOR 02 SEP#Execution only after break and close above or below from resistance or support 15-minute candle.
#Stop Loss above or below from resistance or support 15-minute candle.
(S/R Levels Will be Flipped in The Situation of Gap up OR Gap down Open, Support Will Turn in Resistance and Resistance Will Turn in Support)
(This Analysis and idea is based only on support and resistance mechanism, Buy after resistance break and close above sell after support break and close below, Closing below resistance after trade will be stop loss likewise closing above support will be a stop loss after trade)
NOTE- Only for Education Purpose. This is not any kind of Trading advice I am giving by this analysis.
Please Give A Like If You Like
Baninifty analysis for options tradingall of my levels are 90% accuracy , my previous day drawn support and trendline worked very well. currently market opened above trendline and broke support , but upcoming support are that not very much trustable . ill update the strong level in comments .based on how its behaves today.
BANKNIFTY still in range, getting ready for fall..?As we can see BANKNIFTY had been volatile throughout the day which is expected in monthly expiry. We stil stand by our analysis as our bias has just turned negative as it broke below rising wedge pattern and in smaller time we can see more like a head and shoulders structure which also support our views hence till 51000 is level is respected, we can expect BANKNIFTY to remain bullish unless it breaches below turning it into very bearish so plan your trades accordingly.
Nifty Intraday Analysis for 29th August 2024NSE:NIFTY
Index closed near 25050 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
25500 Strike – 91.12 Lakh
25100 Strike – 88.82 Lakh
25400 Strike – 83.17 Lakh
Put Writing
25000 Strike – 118.59 Lakh
24800 Strike – 98.60 Lakh
24900 Strike – 93.11 Lakh
Index has resistance near 25100 – 25150 range and if index crosses and sustain above 25150 level then may reach near 25250 - 25350 range.
Index has immediate support near 24950 – 24850 range and if 24850 support is broken then index may tank near 24650 – 24600 range.
Banknifty Intraday Analysis for 29th August 2024NSE:BANKNIFTY
Index closed near 51145 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
51500 Strike – 17.48 Lakh
51200 Strike – 12.24 Lakh
52000 Strike – 11.83 Lakh
Put Writing
51000 Strike – 14.60 Lakh
51200 Strike – 7.95 Lakh
51500 Strike – 6.46 Lakh
Index has resistance near 51400 – 51500 range and if index crosses and sustain above 51500 level then may reach near 51900 – 51950 range.
Index has immediate support near 50900 – 50850 range and if this support is broken then index may tank near 50500 - 49400 range.
Finnifty Intraday Analysis for 29th August 2024NSE:CNXFINANCE
Index closed near 23520 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
23600 Strike – 4.54 Lakh
23500 Strike – 3.87 Lakh
23550 Strike – 3.53 Lakh
Put Writing
23500 Strike – 4.42 Lakh
23550 Strike – 3.16 Lakh
23400 Strike – 1.97 Lakh
Index has resistance near 23600 - 23650 range and if index crosses and sustain above 23650 level then may reach near 23800 - 23850 range.
Index has immediate support near 23350 – 23250 range and if this support is broken then index may tank near 23050 – 23000 range.
Midnifty Intraday Analysis for 29th August 2024NSE:NIFTY_MID_SELECT
Index closed near 13085 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
13100 Strike – 15.32 Lakh
13500 Strike – 13.22 Lakh
13400 Strike – 7.45 Lakh
Put Writing
13100 Strike – 13.36 Lakh
13000 Strike – 11.24 Lakh
12700 Strike – 6.26 Lakh
Index has immediate resistance near 13100 - 13150 range and if index crosses and sustain above 13150 level then may reach 13200 – 13300 range.
Index has immediate support near 13000 – 12950 range and if this support is broken then index may tank near 12850 – 12800 range.
AUDJPY SHOWING A GOOD UP MOVE WITH 1:8 RISK REWARD CUP patternAUDJPY SHOWING A GOOD
UP MOVE WITH 1:8 RISK REWARD
DUE TO THESE REASON
A. its following a CUP pattern that stocked the market
which preventing the market to move any one direction now it trying to break the strong resistant lable
B. after the break of this rectangle it will boost the market potential for break
C. also its resisting from a strong neckline the neckline also got weeker ald the price is ready to break in the outer region
all of these reason are indicating the same thing its ready for breakout BREAKOUT trading are follws good risk reward
please dont use more than one percentage of your capitalfollow risk reward and tradeing rules
that will help you to to become a bettertrader
thank you
Sun Pharmaceutical, Bearish - SidewaysThe stock has seen exponential rise since last many months without any intermittent major corrections. The fresh trend lines created have been breached now, and stock seems to have entered into sloping / sideways channel since Feb. Expect to see corrections upto 1300-1250 or upto the trend line which will be healthy for accumulation & gather momentum for future uptrend.
MAJOR TRENDLINE BREAKOUT IN WIPRO ABOVE 530Wipro is giving a major trendline breakout at the level of 530. It is a signal of long in wipro. We can buy this stock at the current level@535 with aSL of 495 on closing basis. Target will be 590 & 640 respectively in a very short term. More upside potential possible up to the level of 700.
Nifty Intraday Analysis for 28th August 2024NSE:NIFTY
Index closed near 25020 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
25500 Strike – 85.37 Lakh
25000 Strike – 86.11 Lakh
25300 Strike – 68.83 Lakh
Put Writing
25000 Strike – 93.78 Lakh
24500 Strike – 78.98 Lakh
24800 Strike – 72.98 Lakh
Index has resistance near 25050 – 25100 range and if index crosses and sustain above 25100 level then may reach near 25200 - 25250 range.
Index has immediate support near 24850 – 24750 range and if 24750 support is broken then index may tank near 24500 – 24450 range.
Banknifty Intraday Analysis for 28th August 2024NSE:BANKNIFTY
Index closed near 51150 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
52000 Strike – 42.41 Lakh
51500 Strike – 33.67 Lakh
52500 Strike – 30.73 Lakh
Put Writing
51000 Strike – 34.98 Lakh
50000 Strike – 32.71 Lakh
50500 Strike – 26.49 Lakh
Index has resistance near 51400 – 51500 range and if index crosses and sustain above 51500 level then may reach near 51900 – 51950 range.
Index has immediate support near 50950 – 50850 range and if this support is broken then index may tank near 50500 - 49400 range.
Finnifty Intraday Analysis for 28th August 2024NSE:CNXFINANCE
Index closed near 23580 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
23600 Strike – 2.51 Lakh
23650 Strike – 2.40 Lakh
23800 Strike – 1.60 Lakh
Put Writing
23400 Strike – 2.09 Lakh
23500 Strike – 2.06 Lakh
23600 Strike – 1.93 Lakh
Index has resistance near 23600 - 23650 range and if index crosses and sustain above 23650 level then may reach near 23800 - 23850 range.
Index has immediate support near 23350 – 23250 range and if this support is broken then index may tank near 23050 – 23000 range.
BANKNIFTY will get weaker below 51000 levels…!As we can see BANKNIFTY had been trading in more like falling wedge pattern in smaller time frame which is bearish pattern and it has been broken down hence as long as BANKNIFTY manages itself above trendline, we may see BANKNIFTY being strong but if closes below 51000 level then it will not only break last swing but also will start trading below the trendline making it even weaker hence plan hour trades accordingly