Hello Traders, market looks taking support at 36800 so our Trading Plan will be wait for price to come at support level and look for price if below support and spending time with 15 min closed candle can go for SHORT with immediate next Support as a TGT, For today session buyers are stepping in at the end and im thinking market will GAP UP tomorrow so avoid taking...
Currently NIFTY trading in Uptrend Parallel Channel. According to this channel next support for NIFTY50 expected near 17900 level. At this points there have a two possibilities:
1) Reversal
2) Breakdown(Low Probability)
1) Reversal:
- From Starting of this month nifty consolidating this parallel channel. To fulfil parallel channel mostly their have 3 support...
Daily Chart shows bearish head and shoulder pattern, will extend till major resistance as Target 1, if breaks major support can go down to Target 2.
Weekly Chart shows retesting is happening at major support which previously act as resistance, if retest succeed can shot up to reach ATH.
Nifty
This is not a fresh recommendation
- In our earlier post we had warned about trouble times for Nifty based on the chart set up
- we had also highlighted the possibility of Nifty breaking Support line based on the 2-3-5 Rule ( in the 5th attempt, the chances of breaking the support line is higher)
Well, 2-3-5 Rule works its magic...
As it was the 5th...
- Nifty could be attempting the Line of Support for the 5th time
- the 2-3-5 Rule suggests not to Buy when it comes to the Line of Support for the 5th time.
- Would it break???
Target for the setup in case we see a breakdown is mentioned in the chart. SL if the line of resistance is taken out ( red trendline)
This is not an intraday view but more of a...
risk: Reward ratio is 1: 2
Rest as per Charts
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Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at...
I'm looking for sell to buy set up in USDJPY, price currently in a bearish order flow in H4 tf, i expect the bearish trend till it reaches the daily demand zone. from there we can expect the continue to upwards
I am looking for shorts in GBPUSD, i expect 1hr Supply will hold and drag the price down..not sure about the demand zone there is possiblity that price break the level
Hello Traders, Today 17600 Level is very important Support in weekly as well as in daily chart we need look out for Price Action at this level if market sustain below this level we can Short and Exit at Swing Low don't hold for Short Trade it can be trap so don't be aggressive.
1. Uptrend Channel support broken
2. Trading near Double top neckline, If close below 890 on daily may expect 8% fall
3. Nifty Pharma also Same pattern formed & already double top neckline broken can expect 8% fall on nifty pharma index also
Godfrey Philips Cmp 1188 dated 18-11-2021
1. Rectangle & Trendline breakdown below 1180
Sell for a tgt of 1150-1080 SL 1220
It is just a view pls trade at your own risk.
Escorts Cmp 1803 dated 18.11.2021
1. Parallel Channel BO @ 1802
2. Volume Rise
Buy for tgt of 2140 SL 1725
It is just a view, pls trade at your own risk.
BANKNIFTY also analysed in bigger time frame and as you can see it is impending on breakdown of the trendline which it followed since last 3 months now! BANKNIFTY has to reverse from here as support being 37700-37600 else if it couldnt sustain above and breaks down both the level and trendline then it can lead to a fall till 36000 in upcoming trading sessions
NIFTY is finally showing weakness now and after being in UPTREND for so long, NIFTY can change its maintrend making it a downtrend, another confirmation being that it has formed more like HEAD AND SHOULDERS pattern and neckline being 17600-17580 in a bigger time frame, for quick scalpers one can short if last trading day's low is broken in NIFTY for the target...
![BALKRISIND: [ INTRADAY ] BALKRISIND LONG BET](https://s3.tradingview.com/z/ZvIa8VOw_mid.png "[ INTRADAY ] BALKRISIND LONG BET")
