KarniKripaa

KarniKripaa

Banknifty is facing resistance at ATH Price is back to the range, this profit booking was expected as mentioned on wednesday post. Now what can we expect is small scalp trade from support and resistance as banknifty has support and resistance on every few points so potential move can only be seen out of range thats again at break of ATH.

KarniKripaa

As mentioned in last analysis from ATH we could see some serious profit booking without any pull back However CMP (current market price trading at support and a gap up can be seen on Monday, if so then we can plan for a pull back from the same support price can bounce If price open gaps down then support will turn into resistance and with small risk 1:4+ RR...

KarniKripaa

Banknfity is not as strong as nifty when it comes to picking up momentum still we have ATH resitance to cross for banknifty and make new high that will lead to good momentum

KarniKripaa

Today nifty gave breakout of range and now only 2 marked resistance on the chart, this resistance holds the potential for price to reverse, as profit booking can be seen. as yet minimum target we can expect ATH.

KarniKripaa Updated 

Nifty filled the gap and bounced after building the base, but over all it is in range same as last 5 days buying on dip worked well, and same plan is for tomorrow most likely tomorrow is a gap up, if so wait for dip to buy and resistance will turn into support if gap down then we have support market with 15-20 points SL, we can plan for 1:4/5 RR trade

KarniKripaa

Following another day in a range and buy on dips worked fine, and same can be planned for tomorrow as well few 25-35 points SL from entry point would have give 1:4+ RR

KarniKripaa

Market is in side way, which is also expect being at ATH breakout For intraday scalp trade would be advisable, big momentum is only possible out the range

KarniKripaa

Price is consolidating from 5 days between 18480 -18670 It is definitely not having any weakness, Buy at support and sell at resistance, would be advisable

KarniKripaa

Nifty is trading in 2 days price range , breakout may give momentum of 80-100 points on upper side. Buying on dips trade will be in favor of main trend & advisable

KarniKripaa

On friday market closed in previous day's range, therefore support and resistance stays same as last posted levels. Now price has made 2 days range in same levels, so probably breakout may trigger good momentum for intraday considering the trend, buy on dips is more suitable with low risk & high reward

KarniKripaa

1. Early entry for a false breakout has high reward & small risk but probability for taking SL goes substantially high 2. Wait for closing SL, but it is false breakdown then chances are remote to hit the low 3. Risk to reward is 1:12

KarniKripaa

1. This breakout has turned around this script 2. Risk to reward is 1:6 3. Trend change confirmation with this breakout

KarniKripaa

1. Triangle breakout pattern 2. Decisive breakout 3.6 months consolidation before breakout 4.18 months Resistance breakout 5. Major trend is bullish

KarniKripaa

1. Major trend is Bullish 2. RR is lucrative about 1:5, if trade with aggressive SL 3. If target is 545 levels then keep room for price to move and wait for closing SL below 322 4. If trend changes and price to reverse then follow 305 level as SL

KarniKripaa

Nifty closed today within yesterday's range. It could lead to momentum tomorrow. Considering last 3 days as a pull back, its can be positional long opportunity Over all we can plan a buy on dip subject to intraday levels if does not break

KarniKripaa

Yesterday's level worked out dot to dot for today's price action. No new level as such is needed, as small pull back is healthy after BN closing above ATH. Tomorrow can be a trending day, if not tomorrow then we can see the same trending day on Monday so again buy on dips would be a good idea, however intraday move can be subjective to live price action

KarniKripaa Updated 

1. Gap is filled today, and a decent recovery EOD from gap todays price action seem a pull back, some price reaction we can see at 18420 apart from support and resist marked on the chart

KarniKripaa

1. 1:10 RR trade 2. Extraordinary RR trade 3. False breakdown to remove weak hands 4. 1.5% SL we can wait for weekly closing below it for set up to fail, if price sustains above support, then reward is handsom, worth the risk