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.
ONGC manages to close above trend time trend line Looks Good for swing trade Key levels are mentioned on chart Thanks and regards Vignesh Sankar
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...
Go Long above 1013.3 for Targets of 1063.1, and 1112.9 with SL 963.5 Reasons to go Long : 1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.618 Fibonacci level. 2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.618 Fibonacci...
Go Long above 428.1 for Targets of 442, 455.9, and 469.8 with SL 414.2 Reasons to go Long : 1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.5 Fibonacci level. 2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.5 Fibonacci...
Go Long above 480.05 for Targets of 504.45, and 528.85 with SL 455.65 Reasons to go Long : 1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.5 Fibonacci level. 2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.5 Fibonacci...
Price just bounced from the very important weekly resistance turned support line, also it is inside the daily demand zone... There can be 2 scenarios 1. Price might bounce back from SnR level and turns into bullish or 2. Price might broke the SnR line continue its original bearish order flow Its is important to note that there are 2 GAP / imbalances there...
BN is still holding its previous breakout also created another trend along side. BN need to breakout and survive breakout .... then we can see a trend reversal. Currently BN is showing some signs of breakout. But on daily and weekly candle its still bearish.
View for Education Purpose only : Big Intraday Candle from high of 343 to low of 290 levels then a perfect close respecting the TREND Line - Let's see how it rolls ahead
LOGIC,LEVEL AND TARGET WELL MENTIONED IN THE CHART NOTE -The above interpretation from the chart is my personal view and doesn't guarantee any success. (Do talk to your financial advisor before making any investment decisions) please like, share and comment if you have any suggestion regarding this analysis.
This pattern looks like copied from some technical books. :) Can go long with current price with SL below the Red line (397)
GRSE | Triangle / trendline breakout - 30-40% CMP : 249 SL : 225 Target : 350 1:4 risk reward setup
Option trade No:1 Entry price; 12.50 Trade based: Hr sideways 15 Min resisting trend line following Entry based: Market respect the hr support then it break the 15 min tf resisting trend line.