Nifty is in weakness range bound.Nifty is closing near to 16900 Almost 3 to 4 days which is good support and trying to break if nifty break 16900 you can expect a big move and we can go for option buying at At retest of 16900 as resisatance y because at every restest we have some intensified fall ( if the breakout is real).
CNX500 Relative Strength
Attached: Nifty 500/ Nifty 50 Daily Chart as of 21st March 2023
- I am watching this Ratio Chart to turn down after Retesting a Confluence Zone
- Its looking Bearish currently post a Rising Wedge breakdown and Three Black Crows candlestick pattern
- It signals Weakness in the Broad Market relative to the Index.
- This Chart had Topped...
Hi,
This is my first post and I am posting it for educational purposes. This is an idea based on trendlines, please comment and guide if this is incorrect. It looks like SBIN is a good candidate for shorting with a target of 410.
Thank you!
it seems that bank nifty is going to reverse after a rally. lets wait for the levels to test and take this superset or say high probability trade. keep watching after diwali. till then Enjoy Diwali.
on daily chart frame we can see that head and sholuder pattern formed....and broke the support levesl
Short Below- 933
With SL- 988
Target - 888/802 (Strong Support Level)
So here is an analysis of another index 'SENSEX'. Let us understand price action of SENSEX in detail! (OPEN THE CHART FOR BETTER UNDERSTANDING)
Firstly, if you have a look at the second last (green) candle here, it is clear that this candle was not able to sustain above a major resistance line (yellow line).
Secondly, today the price shot up the major resistance...
1. if Nifty opens flat to negative, good for short in the range of flag
2. 15175 shorting position, 15000 -15060 could be the target range
3. RSI 15mins, 30mins, and 1hr @60 taking resistance, daily @70 - a combination that could repeat one in a while I believe
4. BNF looking week that could possibly help the shorting easy.
5. price structure in F/Flag pattern a...
Reliance looking weak on daily. It has broke down long supportive trend line. Now 1800 is a very key level to watch for. As per fibo and previous supports, 1700 is first weak support and 1600 is a strong support. For RIL become strong, it need to break 2015 level - keep on radar
COFORGE experienced stronger bullish rally and hit the pull back. momentum of pull back is very high and lots of strong bearish candles back of expanding volume, signifies, weaker pull back strength.
