This is more like looking at charts and trying to find out patterns
whom can this help
Investors - what should be there SL in Federal Bank - exit at 66 and re-enter at 41
Technical Analyst - one more analysis - always good to see perspectives :) isn't it
Traders - Not exactly - but they may want to set an Alert for Monthly closing below 66 or above ...
Dow futures are trading near a very strong demand zone. the possibilities from here could be
it keeps consolidating - accumulation happens for sometime in this zone and jumps from here
it retraces quickly as per harmonic to 30900 lvls and falls from those levels
it continues to fall and may come back to re-test and down move continues
Nifty - after consolidation for a while on a verge or breakout / break down. Bank Nifty already gave a break out in the last sessions, now its time for Nifty to have a catch-up run . RSI also looking to breakout
Details of trade setup on charts
refer to the related idea on BNF for last week ...
May Monthly expiry on 26th
Top three months with max FII selling in cash in recent times
March 2020 - 65k crores
Feb 2022 - 45k crores
March 2022 - 43k crores
It is already 44k crores in May - so it's a no-brainer that May would come in the top three. big question is - can it match Feb 2020 sell figures? I doubt but Time will tell
Bank Nifty for the last 10 days has been trading in a range, getting ready for a breakout/breakdown
a multi-year trendline is in play in BNF and BNF took support more than 4 times and broke the trendline support once. Will it take support or break the support
since 5th April it is trading in a downward channel
US Fed interest rate decision is scheduled...
A Head and Shoulders pattern is used in technical analysis which occurs when a massive reversal in the ongoing trend in the market happens occurs. The chart pattern of Head and Shoulders is marked by three successive peaks:
Original Trend of BNF - bullish
The Left Peak or the left shoulder
The Centre Peak or the head
The Right peak or the right...
Bank Nifty has retraced quite a lot - broke 20 DMA / 50 DMA and now nearing small GAP support as marked on Charts
will it hold the support or will it slide down further depending on How Global markets respond
It may go up without even taking the support as well...
Too many unknowns to guess .. .. the only known fact as of now is that we know where the...
Important Levels on Charts
NIFTY has been consolidating in a wide range - the overall texture is still positive but it may see minor retracements
If today it takes out 17609 lvls with GAP DOWN , the probability of seeing 17436 is very high
and if it sustain below 17436 for more than 30 min - probability of testing 17210-17250 becomes quite high
NIFTY in the latter half of last week was trading on overbought levels rsi > 84
Profit booking is/was expected
Possible trade setup
Buying around 17400 / 17200 levels may happen
selling NIFTY won't be too profitable as selling something in a bull run is quite risky, so my pick would be to buy NIFTY around support levels in small quantities, chances are high...
BNF has been trading in a range of 2000pts channel since May-end It has been a while and multiple tries to break this channel has failed.
Presently, below 20 and 50 DMA and somewhere in the middle of the channel.
What possibly could be a safe trade from here?
A long entry when it tests 100 DMA that is quite closer to the lower range of channel. possible...
Please refer to earlier ideas on BNF - Target 1 achieved, reversed from Target 1, couldn't breach SL. Now what next
NASDAQ and DOW futures are on ATH levels, Results season is on
The hypothesis is that when global markets are at an all-time high and Indian banks are publishing results soon. Market movers would very much like to take this opportunity to take...
Please do have a look at the earlier analysis as well for the overall picture. This analysis is biased with Fibonacci levels for entries
BNF has been underperforming from the last few weeks, so it may play a catch up with Nifty
on the way up starting from 30405 lvls, BNF has made bold green candles at the lvls faced rejection .618 lvl of 35802. Even after...
one of the most commonsensical approaches towards market analysis is to look at a slightly bigger picture and then drill down to a lower time frame
on a weekly time frame, we can see Nifty has strong support at 15430 lvl and in a daily time frame we see a supply zone starting 15830 lvls
Now with these two important lvls we may think of possibilities that can...
LEAD futures showing an interesting pattern
Wolfe Waves - For a true Wolfe Wave, the fifth wave instance in the pattern will be followed by a breakout in price and presently the lead futures are in end of 5th wave
so any breakout if it happens would become trigger point and the target would be the trend line
positional trade - SL and targets provided on chart
BNF finally after many days did overshadow Nifty today. Will the follow through continue? what could be a possible expiry setup?
Will follow through continue - we will come to know by tomorrow day end, I feel it has got high chances of going up tomorrow as well. For the ones who would have referred to my earlier idea on BNF would be already long.
DOW Jone future has been trading in a range for last few weeks - 33300 being the lower of the range and 35100 being the upper of range
during this consolidation - 50 DMA has acted as strong support and 20 DMA is acting as a dynamic trendline for DOW Futures
Strong possibility - during the consolidation of such magnitude it makes sense to test...