AmitGoel217

AmitGoel217

I see a Cup & Handle breakout in Bank Nifty. A benign MPC statement and status quo on the rate front has given a fresh fillip to the Bulls. With Nifty and now Bank Nifty both near ATHs, its seems like its going to be RISK ON in the markets and 23000 on Nifty and 50000 on Bank Nifty is but a formality.

AmitGoel217

Bullish View: Copper's weekly breakout move in underway currently. With the first target being achieved this week. The chart pattern suggests its a 'Buy on Dip' opportunity and we could look to enter in the Buying Zone as shown in the chart for higher targets. Of course this view is negated at the breach of 680 levels on weekly closing basis. We could play the...

AmitGoel217

Weekly triangle pattern break out in Crude. Entry: CMP Stop Loss: 5658 Target 1: 7884 Target 2: 9635 Positive for: Companies with crude as an output. Examples are ONGC, IOC, RIL, OIL INDIA, BPCL, HPCL, ETC. Negative for: Companies with crude as an input. Examples are ASIANPAINT, BERGER PAINTS, MRF, APOLLOTYRE, GSFC, TATACHEM, ETC. More importantly rising crude...

AmitGoel217 Updated 

W pattern breakout. Go long at the retest of the breakout trend line. Keep SL as close below that. Has support of 20 & 50 SMA also.

AmitGoel217 Updated 

Nifty has formed a rare Counter Attack candlestick pattern. If found after a rally in price, it's a bearish reversal pattern. The way to trade this would be to wait for confirmation that prices indeed want to fall and then enter the trade keeping the pivot high as SL. 🦉 in.tradingview.com

AmitGoel217

The daily trend in Nifty is down and weak. We can expect continued weakness for a few more trading sessions. The silver lining is that we are now close to crucial support levels which could possibly arrest the fall.

AmitGoel217

RIL has broken the trend line support and has also closed outside of the parallel channel for two consecutive days. It is looking weak. Will consider trading via options by initiating a Bear Call spread and trail it. If there is some evidence of a fight back will add a Bull Put spread and convert it into an Iron Condor. But the prima facie view is bearish.

AmitGoel217

High Ce Oi. But At A Gap Support. Difficult To Go Short. May Be If The Gap Breaks Then Plan A Short. Counter Trend Trade Is To Go Long Upon Confirmation Only.

AmitGoel217

Trend is up. Super trend indicator is coinciding with 20SMA and they can act as a support in case of a small retracement. In case price bases or takes support at the mentioned levels, can look to plan a long trade, keeping a close below as SL.

AmitGoel217

Natural Gas is seen moving inside of a channel with upward slope and I also notice a downward sloping resistance trend line, from where the price is seen taking resistance. Looking to short if price breaks down the channel for a target of 200.

AmitGoel217

Flag (Symmetrical Triangle) breakout, inside of a larger Flag & Pole pattern indicates continued bullishness in CRUDEOIL. Eventual target is Rs.8000

AmitGoel217

BINANCE:BTCUSDT BTC on weekly time frame has completed H&S formation. If we do simple measurement, then the conservative target is 24488 and the dooms day forecast is 13128 or thereabouts. I hope I am wrong on this one.

AmitGoel217

TRADE LOGIC as on 06th Jan 2022 @12:00 Hrs in.tradingview.com NSE:NIFTY1! Nifty price action has formed a Bearish Cypher Harmonics Pattern on daily time frame as shown in the attached file. If this hold out, then we can expect a correction at-least till the Daily Demand Zone at 17287 / 17151 on Nifty futures chart. However, the daily trend remains upbeat. So...

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AmitGoel217

THe weekly price action of Nifty seems to be respecting the Fib retracement crucial zone between 50%-61.8%. There is a daily supply zone co-inciding with the aforementioned Fib zone. Given that the trend as per pivot analysis on weekly time frame is down, and there is an area of resistance around 17250-17500 due to multiple crucial indicators such as Bollinger...

AmitGoel217 Updated 

Flag pattern formation in progress on daily time frame. Has taken support at the gap level and is now showing strength. Resistance zone at 36549 - 37232 and resistance point at the ATH level. Will face some resistance at these levels, but I feel, it will eventually reach its swing target of 39615 - 40000. Happy Trading Amit Shreeram Goel TradingOwl

AmitGoel217 Updated 

H&S pattern is forming. Left shoulder and Head have formed. Right shoulder is under construction. This DDZ (tested) is at the "neckline" of the above formation. The expectation is that prices will bounce from the neckline demand zone and go on to complete the right shoulder which should give us a nice little long trade. The expected upside potential from the...

AmitGoel217 Updated 

Trend is up on all Higher Time Frames. Daily Demand Zone is in control of prices and has provided much needed support in today's fall. The freshly formed 75min Supply Zone will/may not hold as Daily (viz, a higher time frame) is in control of prices. Bollinger Band Mean is inside the Daily Demand Zone and will likely give support in case of a further dip in...