48800 remains a strong resistance and the attempt to break has failed multiple times. The market is likely to make one more attempt to touch 50K before returning to 46000
Weekly Support: 47900 => 46650
Weekly Resistance: 48900
Trend: May Reverse to Bearish
Strangles on April's second week and above contracts are better option strategies
Disclaimer: Investments...
I forgot to give time candle on other stocks, please note the candle mentioned on the chart for all the Indian stocks today. Duration to trade today is
4-10-24 9:59 AM to
4-10-24 2:26 PM
Means, if any price of any stock/index is above high of 9:59 candle then buy and keep position till low of 2:26 candle otherwise go in the reverse direction.
Disclaimer: I...
The Nifty Bank Index, currently trading at 47,773.25, is exhibiting a near-term downtrend on the charts. Support levels are anticipated around 47,000 and 46,200, suggesting potential areas where selling pressure could subside temporarily.
Given this scenario, the recommended trading strategy would be to sell on rallies. The indication of a negative trend is...
Please read the notes as mentioned on the notes and corresponding geometric presentation.
Disclaimer:
I am not a SEBI registered analyst and it is only for educational purposes. Please consult your financial advisor before making any decision. I will not be liable for any of your profits or losses.
3 Wave pattern, chances are in the morning to breakout & touch upside.
whether can sustain or not is the question , depends on overall market situation
Bank nifty has taken good support near 46000. For tomorrow, ideal set will be if it touches 46500 and bounces back. this will be the best place to initiate longs for a 500-1000 points upmove. levels are marked within chart. BNF is respecting the channel so far, a great pattern coming in handy so nicely for such a long time.
As per indicators, it's turning...
Bank nifty is moving within an upward channel. Coupled with and news and down momentum, it's giving multiple short opportunities.
As per Bulls eye indicator, it's in bearish territory, good to keep booking profits and wait for turn around along with sentiment.
As you can see in this chart that banknifty is following this pattern from last three time.
Based on formation there is a reversal candle formed near important support area.
Shorted 45500 put and 47300 call for a combined premium of 110 Rs for 20th expiry.
Please note this is a naked sell with 78 % possibility of profit the same can be checked on Opstra, however a gap opening can change the dynamics, so take positions with hedge or keep sufficient margins to make adjustments
47300 sold at 72
45500 sold at 29
Bank nifty forms H&S pattern. As per chart 47370-47730 is major resistance range.
If bank nifty come in this range it can short for 46730 intermediate target. It may also test 46100 to complete this chart pattern and fill previous gap show in chart.
