ChartMantra

ChartMantra Updated 

Good evening all, Tuesday again was a gap down opening of 150 points and gave us an entry at the short side level to meet all three targets in just about an hour and a half. For tomorrow, I am basing a long view because the index is in a reversal zone on the daily as well as the hourly chart. Hence 34350 to 34675 remains a non-tradable zone If it climbs...

ChartMantra Updated 

Good evening all, All our levels were invalidated due to the huge gap down opening. Tomorrow we will probably see a range between 35800 and 34800 and on either side, the views are as follows; Long side view: Buy above 35140 Target 1 zone - 35300 to 35350 Target 2 - 35400 Target 3 - 35469 On the other side; Short Side view: Sell below 34850 Target 1 -...

ChartMantra

Good evening all, Freaky Friday..... Do you agree? Like I had mentioned on Thursday, the market was going to be tricky and it was. We had to manually close the trade at 100 points. Tomorrow is going to be no different, multiple swings over the past 2-3 sessions have created an immense amount of noise and hence doubt. The best trade in this scenario is to NOT...

ChartMantra Updated 

Good evening all, Finally..... Fort 35800 was breached and we climbed almost up to 36000 (15 points shy of the summit). Tomorrow is a different day, and tricky at that. The noise on my chart suggests so. If the market carries its 'long' sentiment from the past 5 sessions then; Long side view: Buy above 36070 Target 1 zone - 36180 to 36200 Target 2 -...

ChartMantra Updated 

Good evening all, Today we waited and waited some more for 35800 to be breached. But naaaa, not happening. For tomorrow, the possibility of 'Long' is more than today with higher lows being made consistently and trend line being respected..... Very much. But again.... it will need to break 35800; Long side view: Buy above 35800 Target 1 - 35935 Target 2 -...

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Good evening all, What a day we had today, Post the huge gap up opening, a marvelous run of 350 points. For tomorrow, if the market has to go long, it will need to break the 35800 barrier which has been a multiple resistance point since June, post that; Long side view: Buy above 35800 Target 1 - 35950 Target 2 - 36050 (SL - 35700) However, if it breaks the...

ChartMantra Updated 

Good evening all, For tomorrow, if the market has to go long, it will need to break the 35250 barrier it tested twice today, post that; Long side view: Buy above 35250 Target Zone 1 - 35340 -35390 Target 2 - 35500 Above 35500-35575, there is a good range of 200 points up to 35750-35800 However, if it breaks the trend line and goes down; Short Side view: Sell...

ChartMantra Updated 

Good evening all, We are at a point where the index may open on either side. So; Long side view: Buy above 35230 Target 1 - 35335 Target 2 - 35430 ------ Short Side view: Sell below 34850 Target 1 - 34700 to 34620 Target 2 - 34520 However, If you like my idea..., do spread the word.

ChartMantra Updated 

Good evening all, This is NOT a copy & paste from yesterday. Well, it is..... In a way that my view hasn't changed and levels haven't been breached. With an ascending triangle forming at 35800, from here, if the market goes up, it will be as follows: Long side view: Buy above 35820 Target 1 - 36050 Target 2 - 36445 Target 3 - 36575 However in my view, it will...

ChartMantra Updated 

Good evening all, Like I had mentioned in my weekly view, the target for 35700 was met today. from here, if the market goes up, it will be as follows: Long side view: Buy above 35820 Target 1 - 36050 Target 2 - 36445 Target 3 - 36575 However in my view, it will touch the 36000 range and then probably drop back, and if it does, then; Short Side view: Sell...

ChartMantra Updated 

Good evening all, We are in July, which historically between 2012 and 2016 has seen a +-0.5% move, but between 2017 and 2019 has been +-5.0% (you read it right and spot the difference) and last year was a different beast. What does it mean for us.... The monthly ATR since March has been ~3500 and effectively means the market could move within a range 1700...

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Good evening, For tomorrow, my view is slightly on the neutral side as the level that BNF has reached is a strong PRZ. We may see a reversal from this point. If we do... Short entry is at 35100 Target 1 - 35000 Target 2 - 34900 Target 3 - 34700 to 34650 However, if the market carries today's sentiment and sustains over 35300, then we'll see Long entry is at...

ChartMantra Updated 

Good evening all, For tomorrow, I carry my view from the past 2 trading sessions. The index will be in a range between 35200 and 34650, which also is the daily ATR. Since 34900 has offered a strong resistance forming a double top, breaking that barrier is going to be important. Having said that, it also forms the neck line for a potential inverse head &...

ChartMantra Updated 

Good evening all, As mentioned last evening, 34650 remains a strong support level and is our PRZ level at 88.6%. This means the bear run might just see the end.... Or will it? For it to continue, 34500 level needs to be breached and we may then see 34400 and if that breaks 34100 (in one day....hmm... may be not). However, if the sentiment from June 28th has to...

ChartMantra Updated 

Today's day was as expected, BNF reached 32200 levels and reversed from the PRZ. For tomorrow, both indicators suggest a gap-down opening and then a possible reversal from 35650 - 35550 zone and back to 35200 with some hiccups at 35000 which always remains a psychological barrier. If it breaks down further and sustains below 34350, then we may see 34100 and...

ChartMantra Updated 

As mentioned in my earlier post, BNF is in a tight range between 35500 and 35000. For tomorrow, we may see a flat opening with the road to 35500 being rocky due to more resistance points and OI build up. The road south however, is more easy if the psychological barrier of 35000 is broken and sustained. Long: Entry - above 35160, T1 - 35280, T2 - 35385 Short:...

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BNF has been trading sideways since June and has reversed back from the strongest PRZ of 88.6%. The range is between 35500 and 35000 where it has taken multiple résistance and support. For an effective long, it has climb over 35800 and for short, dive below 33900. While with the current trend this may look difficult, but with a daily ATR of 600, and in the new...