CANick

CANick

Yes - looks like a setup is brewing up for an upmove. The next short term target would be 19.7. Trade safe, manage risks! -N$ Disclaimer: This post is a trade-setup analysis and not an investment advice.

CANick

Multiple time frame charts of subdued Banks reveal attractive fundamental valuations and great setups which could offer 15-30% returns within a few days/week and even great trading opportunities in the long term. Manage Risk. Trade Well. Cheers, CA. Nick

CANick

Thesis: Strong upward trend and momentum providing tailwinds to the stock as its looking to break short-term resistance zones / recent swing highs. Strategy: Buy at current levels (9.9-10) Profit target: 10.9-11.1 levels Stop loss: Below Daily 200 Ema massive support (below 10.5) Manage Risk. Trade Well! Cheers CA. Nick

CANick

Thesis: Long term-Elliot Wave Analysis of South India bank reveals a possible long term ABC correction to Fib 50-61% levels with positive divergences developing on the long term momentum indicators and oscillators like RSI showing strength coupled with volume on key break-out levels. The breakout might be the start of new up-trend with a new cycle of impulse...

CANick

Hypothesis: J&K bank appears to be in a long term ABC correction and has reached major foot-hills (read-Support). Additionally, there seems to be strong 'Momentum' divergence developing in the Daily charts and a 'Gap' to be filled at 35.5 levels. Therefore, this overall counter current-trend strategy is based on a confluence of strong factors . Overall trading...

CANick Updated 

With budget coming up around the corner and FIIs pulling out a little and overall sentiment of players ranging from - sitting on the fence to fear (of missing out or a looming crash). Hence, in an effort to decode the patterns and present a high probability hypothesis - starting a 'weekly technical tactical' series to follow the movements in an endeavor to find...

CANick

The Nifty took that vital support (for now) per the last analysis (link provided - refer: Nifty Swiftly issued on Jan 23rd, 2022) and is now presenting a rebound of sorts. We try to decode the move and present the Technical Analysis - executive summary for you here. Analysis framework and tools of choice : Bollinger band analysis, technical support levels,...

CANick

Coal India seems to have taken a strong support and bouncing off a long term trend line. Once coal India breaches the 200ema resistance on the daily, should go on and reach 157-158 levels for a short term target and then can head towards longer term upside targets as well.

CANick Updated 

ITC might present a short scalping opportunity to sell to a level of 233-234 levels. Current price - 236 Terminating wedge with exhaustion and divergences - underlying rationale. NS

CANick

Elliott wave Analysis of NIFTY at crucial 16700 levels suggests two hypothesis - either it needs to cross the level with strength and find support there OR it might be the Start of a rapid downturn (5th exhaustion or even end of the 2nd/b wave in a new down cycle).

CANick Updated 

Nifty Elliot Wave Analysis leads to this high probability hypothesis - It seems the 5 waves up from last year's covid bottom levels might be completed, and this could be the start of the correction phase/downtrend with some up-corrective waves in-between. If this model holds, there could be an ensuing 3rd strong down-wave to 13,700 levels and then beyond to 10,500...

CANick Updated 

Sensex touched 50k, budget’s coming up, what’s next? With such a plethora of opinions and views about markets, it's quite a challenge to sift through all the information overload and get a sense of what’s happening. There is Greed, and there is Fear, and nothing's Clear! So, I thought I will detox myself of all opinions and try to develop an experiment, an...

CANick

Although, the hypothesis is still developing, but there are few elements of technical analysis that hint at this becoming a good set-up for an up-move: Pros: 1) Elliot wave analysis reveal corrective wave might be near completion 2) Positive divergence on hourly charts 2) Long-term trendline, Fibonacci level offer good support at 10.7 levels 3) Long-term multiple...