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BankNifty analysis -
1. 34000 - BUYING ZONE.
2. 39000 - MAJOR RESISTANCE.
3. Took support from 34000 as expected and explained in linked BANKNIFTY analysis idea.
Up Move expected to continue to 39000 level.
4. 36700 - GAP, likely to be filled. Next level 38000.
5. BUY if trades above 36700. Target 38000, 39000.
1. Trend still down in weekly.
2. Pull back going on -
17800 - 1st resistance.
18350 - Major resistance.
3. Buying profit levels - 17800, 18300.
4. Selling expected - 18350 zone leading to 16000 levels again. Watch price action to create new shorts around 18350.
5. Buy if gives weak pullback above 18350 - Trend will change to up in weekly time...
BankNifty Analysis - As mentioned in earlier weekly analysis of BANKNIFTY, 34000 was a strong buying zone, please check linked chart analysis of previous week for more detail.
1. DEMAND ZONE 34000.
2.Broke 34000 but reversed immediately, strong buying from SUPPORT ZONE.
1. If trades above 35000.
2. Stop 34800.
3. Target - 36000, 37000,...
NIFTY ANALYSIS -
1. Trend - Down in Daily Time frame. Trend will change to up above 16800.
2. Support - 16400, 15700.
Resistance - 16800, 17200, 17600.
Major Resistance - 18300, 18600.
3. Future Trend - As trend was down we expect down trend to continue till 15500 zone.
Our down trend will change to up trend if NIFTY trades above 16800.
1. This Up Move started from 15500 in WEEKLY time frame, so this is very important level. Trend is still up in Weekly.
2. But trend is down in daily. AS NIFTY SUSTAINED BELOW 16400( was already explained in previous post, check linked idea) EXPECTATION IS OF TEST OF 15500-15600 ZONE. BOUNCE IS EXPECTED FROM THERE.
3. If gives closing below 15500 in weekly then...
Colgate-Palmolive (India) -
1. Has been following up trend line since 2009 as visible in the chart.
2. Expected to follow the trend line.
3. Entry - for long term some part can be added at current levels. Major buying can be done when price breaks the trend line in DAILY time frame but reverses and closes above it. Entry on high break of this candle.
1. Zomato in Down trend
2. Three buying attempts from 75-78 zone each time making lower high - means buyers are getting weaker.
3. Triangle formation.
4. Intraday - Short if sustains below 78.
Stop - 80.
Target - 73, 70.
5. Down move is expected till 60.
BANKNIFTY was in uptrend but is in sideways 34000 - 42000 now.
This ranging action is expected to continue for coming months till 42000 is broken and Banknifty sustains above it.
42000 - Resistance, selling is expected from this level.
Best Buying chance will be near 34000.
Look for buying setups near 34000.
Example - Break of 34000 in daily time...
1. TREND - SIDEWAYS - 16400 - 18600.
2. 1. Nifty made 4 failed attempts to sustain below 16850.
2. Each time strong buying came which took it above 17000.
3. Lower highs indicating weakness in up/buying, this was indication of 16800 break.
4. a. BUY - If sustains above 16800 or on daily candle high break after Pullback.
b. Reason - Many buyers were...
PayTm - Possible Short and long trades around 890 level.
Buy if after breaking 890 comes above it and gives weak pull back.
Target - 950, 970.
Short if after breaking 890 sustains below it, enter on weak pull back to 890.
Target - 850, 810.
Nifty 50 Futures Analysis in Daily timeframe
1. TREND - SIDEWAYS - 16400 - 18600.
2. Nifty made 4 failed attempts to sustain below 16850, shows strong buying coming from below 16850 till 16400.
Expect same to continue, that is buying to come from 16400 - 16850 zone.
3. BUY - If breaks 16800 and reverses .
Entry - Next day if breaks above 16800 break...
1.Trend - Down.
2. Sideways for last 2 months between - 2550 - 3000.
3. If sustains below 2500 then more selling till next support which is around 2000.
Trade Setup -
1. Short if sustains below 2500. Target 2350, 2300. Stop - 2560.
2. BUY - Breaks 2550 and reverses. Entry - 2550 break candle high. Stop - 2500, Target - 2800, 2900.
1. In DownTrend.
2. Was bought from 1000 in anticipation of reversal to 1300 and above but failed as 1000 broke today.
3. Sustaining below 990 would mean new shorts will enter, many buyers will be forced to exit at loss.
4. Break of 990 and failing to sustain below it and reversing would mean buying coming from below 1000 level, trapped new...
1. Change to Up Trend above 37600.
2. 1st Pullback after a very strong up move.Up move likely to continue on break of previous day high 38450.
3. BUY above 38450.
Target - 38850, 39100, 39900.
Stop - 38300.
Nifty 50 Analysis for this week in Daily timeframe-
1. Avoid buying between 18200 - 18600. But still If you are buying between-> 18200 - 18600 keep targets short and tight stop as there are multiple Resistance in the form of 18350 and 18600.
2. Buy if it sustains above 18600.
3. Buy if it falls to 17600.
Brent Crude likely to break Major Resistance 87.
If sustains above 87 we will likely see 115 levels.
Stocks which may benefit from this move -
2. OIL INDIA.
Stocks which may loose because of this move -
1. Asian Paints.
2. Berger Paints.
3. Aviation Industry.