About meProfit Play is a blog founded in year 2012. We are Small Team of Technical Analyst. (www.ProfitPlay.in) where Trading Is Serious Business So Learn With Us and Maximize Your Profit. Visit Our Blog: www.ProfitPlay.in
Nifty PSU Bank Index is trading above 200 Exponential Moving Average (Weekly) and has seen trend line breakout, Also Index is outperforming Nifty Index. We may see Sharp up move in PSU Banking stock like SBIN, Bank Baroda, PNB, CANBK From FNO Space, Once should ride the trend using hedging Strategies.
Bank Nifty Future has seen sell off from Channel Resistance technically, where some negative news has added the spice to the bears. For the September Series 25270- 25300 in the strong resistance and Strategy to sell on the rise should be the plan (CMP 23775) if Bank Nifty Future Closes above 25300 we may see BN again entering bullish zone.
STATE BANK OF INDIA (SBIN) has breakout of range consolidation, Stock today on August 2020 breakout of Rising Wedge patter as marked on the chart. We can see levels upto 248- 250 in the next 2-4 months. One can Go long with the stoploss below 188 on Weekly closing basis.
SILVER COMEX is on the verge of Breakout of Range, Today if SILVER COMEX Sustains above 27.30$ we can see upward swing in Silver in the next few trading session. Keep a close Eye on SILVER COMEX for the Trading opportunity. 👍
Gold MCX has strong Channel Line Support As marked on the above chart and we can see buying resuming in the GOLD MCX, With the Stoploss of 50400 one should Go Long for the Targets of 52000 and 54000 on the upside. Once GOLD MCX Closes above 52500 it May Again Resume its bullish momentum.
Nifty Future is Trading in a Perfect Upward Sloping Wedge Technical Pattern as marked on the charts. As rally is mainly driven by the liquidity and Market looks overbought to many of us, but on should take a note that Bulls are in full control and any correction in the Nifty has been used for buying. We can see Gap on the Daily Charts in Nifty and Nifty is likely...
On the 4 Hourly Charts Gold MCX has Strong Support Zone around 49900-50000, As it was previous Channel Resistance now acting as support. We may see the uptrend resuming, On should follow strategy to buy on correction and Hold for investment with Stoploss below 49000 on closing basis.
Gold MCX is Trading in Rising Wedge Technical Pattern as marked on the Chart above. Support zone For the Gold Seen at 46300- 46150 Which is the decisive levels. On the Upside Resistance is Capped at 48400, The Wedge Formation Resistance, We Suggest to Go Long on GOLD MINI for the Targets of 48400 and 49000 Place stoploss below the support Zone which comes out to...
GOLD COMEX is trading in Rising Wedge Technical Pattern (Marked with Blue Lines in the chart Above) Support Zone for the GOLD COMEX is 1725- 1735$ Per Ounce. On can Buy with Targets of 1772$ and Stolploss Below 1710$... You Can Use These Levels to Play GOLD MCX MINI (Take you Own Decision and Analyse you Risk Capacity Before Entering into position)
As nifty has seen sharp recovery in the April Series 2020 and We have seen a sharp up move, And Now Nifty is trading near to resistance levels. We expect correction in the May 2020 Series, On the Last Friday when Indian Markets were closed on the occasion of Labor Day, Singapore Nifty corrected more then 500 Points.
9800- 10000 are the key levels to be watched,...