ChartMantra

ChartMantra

Good evening all, Today: The index negated our view to a certain extent, but not to a point that we could have taken an entry. Mostly in a downward range and then a climb back to the reversal point. Tomorrow: The index is currently at a key reversal zone and I don't want to bet on a 'Long' to 38785.... It might just... The entry happens after the new ATH. On...

ChartMantra

Good evening all, Today: Something had to give..... and it did. A new ATH and move of 475 points from our entry level. Hope you made some good money today. This because the the index was making higher lows consistently for the past few sessions forming an ascending traingle and had to break out at some point. Tomorrow: The multiple harmonic patterns on my chart...

ChartMantra Updated 

Good evening all, Friday: It was equally bad as Thursday. Stuck within a range of 375 points on a 14 day ATR is of 550. Something should give this week. Tomorrow: Dynamic support trend line being respected is a good sign for the index move up. Again, ONLY if 38100 is breached. We will this time enter at 38120 to see 38265 and then a 100 - 300 point move. The...

ChartMantra

Good evening all, Today: If there is something lesser than nothing, that was today. Stuck within a range of 275 points when the 14 day ATR is of 550 at this point in time. So something gotta give.... When? Let's see. Tomorrow: We shall not leave our hope and trade what we see. And we potentially see an upward movement ONLY if 38100 is breached. However, we will...

ChartMantra

Good evening all, Like I mentioned in the morning, nothing has changed over the past 2 days and nor did it today. Only Option writers making merry by building a false optimism on both sides. Tomorrow: Expiry day and the volatility will be within 38120 and 37350... For us to catch any trend, these 2 levels become very important. Especially because of a possible...

ChartMantra

Good morning all, Nothing has changed over the past 2 days mon the long side. We still wait for mount 38000. Till then look south. Downward, our levels have moved. We can now look at an entry at 37315 and potentially see a good fall of around 200-300 points. But today is Wednesday, premium eating day..... So be careful of the range. So; Long side view: No clear...

ChartMantra

Good evening all, Last week: We saw the index move down from an ATH to a swing low from the previous week. But mostly in a range. Tomorrow: From that low it bounced back and is hovering around the 37200 mark. Problem however is, we still don't see a clear 'Long' Entry till 38000. If it sustains that, then, 38112, 38260, 38360 and the harmonic pattern on daily...

ChartMantra

Good evening all, Today: Like we marked out yesterday, the market behaved exactly as expected.... Between 38000 and 37300. Only sellers making money. Tomorrow: Today's movement however, does provide us with the optimism for a good 'Short' if it does... New month, new opportunity..... On the long side, nothing up until 38115. So; Long side view: Buy above...

ChartMantra

Good evening all, Today: As expected the market was in range because the overtime run yesterday. Even sellers have to earn right. Tomorrow: Monthly expiry.... Buyers or Sellers? My guess is Sellers again tomorrow and a range between 38115 and 37300. I these 2 levels breach, then we get some movement. More on the south side than in the north. So; Long side...

ChartMantra

Good evening all, Today: We saw a fall from the top where we had marked as resistance. And what a fall. Gave us a good 480 points. Only to go back up by 500 points. This because, it hit the SR zone of the past (20th & 22nd). A total of 900+ points earned in a day. Tomorrow: The problem with such a huge move in one day poses a problem for the next. As you can...

ChartMantra Updated 

Good morning all, Yesterday: We saw a new ATH due to a opening with a huge gap. It did not sustain though and started retracing after 15 mins. We however did make around 200 points in that time frame. And this, was an exact reversal from the point we had marked as a PRZ. Today: The room on top as you see, is congested with a lot of resistance areas being built...

ChartMantra Updated 

Good evening all, Friday: Again BNF did a number on us and opened with a huge gap up and then snuck into a range. Tomorrow: For us to have traction, we need the 38000 - 38110 mark to be comfortable breached in the north and 37525 in the south. Till then we'll pick all the crumbs we can. So; Long side view: Buy above 38000 Target 1 zone 38110 - 38150 Above this...

ChartMantra

Good evening all, Today: BNF did a number on us and opened with a huge gap up. Invalidating our entry and target on the long side. However, if you did take an entry on the pullback and the original entry point as SL you would have made some good money. Tomorrow: Today's climb from 37300 and close at 37800 puts us in a tricky situation. We are based at one of the...

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Good afternoon all, Today: Like I mentioned yesterday, the range will be between 37400 and 36900......And it was. Also, today emphasized the importance of a correct entry and later exit. Jumping into a position is never a good idea and will never be. Tomorrow: Today suggests a downward movement for tomorrow barring the last 15M candle. Hence, we stick to our...

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Good evening all, Today: Expected move of 500 points after the break down of 37000 and reversed from a point where we did not expect it to. But that's BankNifty for you. Tomorrow: Post today's reversal, the entry point was at 36865 and has crossed two PRZs. We are now at a brink and waiting for 37340 to be breached, if it does, expect a ~200 point move. However,...

ChartMantra Updated 

Good evening all, Apologies for not being to update the chart throughout the day today, but if you did take a short position below 37300, you will have earned 300 points. For tomorrow, to be in a good short position, we'll need the 37000 mark to be broken down. From there we'll probably see a good 200-300 or even 400 points drop. So; Long side view: Buy above...

ChartMantra

Good morning all, Friday was a as expected. Uncertain at its best. Today may not be different as we may see the index betwee 37400 and 38100 range. for a good move, these need to be broken. So; NO levels as of now as we need to wait till we get clarity. *** This is a view and not necessarily a trade recommendation *** However, If you like my idea..., hit like,...

ChartMantra

Good evening all, What a day, what a move? ATH....... And on the daily chart, a room is open till 38650. But for that to happen 37750 needs to be broken and sustained. Between where we are (37680) and that (37750) we are in a reversal zone and can look down south too. So; NO levels now as we need to wait till we know better tomorrow. *** This is a view and not...