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Weeklymarketsanalysis

NIFTY, the worst day and best day.  Feb 3rd weekHow crazy is this., Last Friday was the worst day since the last 10 months and today is the best day since the last 12 months. This volatile and continued type of movement kills non-directional option sellers. Looking at the chart, the global weakness, the market opened lower and kept moving down. We all know the 16850 level has been respected multiple times. Monday it b.k. and closed just below 16850. Today it opened with a gap up and took support at 17850, a 500 point sharp movement. Let's see if we nifty follow last week's pattern. major level to watch. If close above 17450, the next level to watch is 17600, and if we close below 17200, the next levels to watch are 17100 and 16850. If we close lower than 16850, we could see a larger down move. Also keep an eye on the triangle pattern in the NIFTY Daily time frame. Coming to my option Selling Due to the global weakness, I waited to sell my option at 16850. After 11, it showed trend reversal once it crossed the day high. I entered at 16700PE sharp move, not confident about selling CE because of the high premium spike. At 3.10PM, I entered in to 17850 at a good premium. Right now I have a 16700PE and a 17850CE. My current positions are green. My plan is to hold on to my CE and roll up my PE if the nifty stays above 17400, and if the nifty stays below 17400, I will roll up my CE. If that happens, let's see how it performs this week and after the trending days, expect a consolidation. If that happens, we can hope to end this week on a high.
NSE:NIFTY
by Manuadarsh
COLPAL Weekly AnalysisColgate Palmolive (COLPAL) has been trading in a 7-year long parallel channel and is now at the base of the channel. The stock is also trading near its 200 week moving average (green) for the last few weeks. The stock has never fallen below this 200WMA support in its life. As an example, during the Mar'2020 fall, the stock took support at 200WMA and bounced from there. Further, this time around the stock has bounced for second time this week at this 200WMA support. We can expect this support to hold and build a long position here. A successful reversal may take the stock all the way back to its 1640 resistance zone (highlighted) and possibly beyond. Stop loss below 1375 low.
NSE:COLPALLong
by vipulmehta817
CANFIN HOMES Weekly Trade Opportunity; Parallel Channel setupCan Fin Homes is building a beautiful parallel channel . This channel begins from Fall of 2020, and builds up till date. The stock has given respect to both bands of this channel and continues its journey. Currently the stock is trading near its all time highs of 2017, which it did broke a few weeks back, but faced a strong resistance and retraced. This week can help the stock with its momentum and help it close above this resistance zone . Personally Bullish on this stock. ** I am not a SEBI Registered Advisor. Kindly consult your advisor before taking trade.** Trading Tip: Construct a bullish pennant on 15min chart, it is clearly visible. You can observe that there is a breakout in this TF accompanied with strong volumes. It surely builds a great short term opportunity for the stock! Do LIKE, COMMENT and SHARE if you like this analysis. Thanks.
NSE:CANFINHOMELong
by ParyataK