BharatAsani

BharatAsani

Adani enterprises has been consolidating in a triangle since sometime. Now it’s ready for a big move.

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Naukri has broken the downward sloping trendline & looks ready to fly towards 4300. Go long as soon as it closes above today’s high.

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Berger Paints is trying to give a breakout but so far not seeing any increase in volumes. Price breakouts without volumes are usually fake breaks or traps. If the volume picks up then it will be a good candidate for longs.

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Hindpetro is nearing the resistance level of its triangle pattern, breakout here with good volumes will lead to a big rally.

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Axis Bank is testing the resistance of the triangle pattern, breakout with good volumes will give a good rally.

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BIOCON is showing signs of a breakout, so far volumes are not supporting it. For any entry into longs it would be better to wait for a strong candle with good volume support.

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TECHM is nearing a very important long term support level, if it holds we can see a massive rally. Otherwise expect the range to get narrower until a breakup or breakdown happens.

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SBI is at a crucial point, breakout or breakdown with volumes of this pattern will decide its long term trend.

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Breakout patterns are very important as they signify either a continuation of a trend or a reversal of a trend

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Reliance has been respecting the downward sloping trend line . Ideally it should go towards 2290 to grab the liquidity over there & re-test the trend line again. if the re-test fails to break the trend line then we can see a sharp 100 point drop towards the next liquidity point. P.S: this view is negated if Reliance breaks the downward sloping trend line .

BharatAsani Updated 

ICICI bank is a very good shorting opportunity with multiple confluences: 1) 2 consecutive breaks of structure to the downside making a LL & LH pattern twice. 2) Tapped into the volume imbalance 3) Broke trend line With Bank nifty also at its trend line support with high probability of it breaking as it will be its 4th test(the higher the number of tests the...

BharatAsani Updated 

On the hourly nifty has started showing a shift in structure from bearish to bullish, currently its right in the middle at VPOC. Today it tried to break the triangle upside but closed right at the top. How it reacts here tomorrow will be crucial, if it continues to print bullish momentum we can see 18475-500 levels. Whereas if it breaks on the downside we can...

BharatAsani Updated 

Bank Nifty is going to test the long term trend line again, if it holds we can expect another rally like last time but if it breaks then we will see a significant fall in Bank nifty. Volume profile analysis is also suggesting a P shaped profile which means that maximum volume has taken place at the top of the range & usually smart money(institutions & pros)...

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Normally I don't do sectoral analysis but this one demands our attention, fundamentals & price action are both looking good for the metal index. As mentioned in my detailed analysis of tata steel, even the metal index did a possible bear trap. Fundamental wise this sector is the most hottest for the coming weeks/months as China opens up & the COVID wave peaks over...

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LT on the daily formed a possible bear trap by closing below the trend line & then showing a v shaped recovery from there. On the hourly it has closed above the downward sloping trend line resistance but it was not a convincing break. There are 2 major supply zones sitting on top of it, the first one is a very small zone which has a less probability of holding...

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Titan seems to be forming a bullish scenario & can be bought on dips. On daily it formed equal lows & broke the downward trend line with high volumes. Near the equal lows it also did a classic wyckoff accumulation on a lower timeframe. After breaking out of the daily trend line it also formed a very big volume imbalance. Strategy 1 - wait for price to come to the...

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Maruti is showing bounce from the trend line active from it's Apr 2020 low, it also has covered a "volume imbalance" zone on the daily chart. While on the hourly it has given a break out from the downward trend line. Any further bullish momentum could lead to a good rally in the stock, I will prefer waiting for sometime as the break on the hourly is still not...

BharatAsani Updated 

Bank nifty showed a bounce from the trend line despite low volumes today. Buy's(on dips) can be taken if it continues to show bullish momentum.