About meProfessional Day Trader and Investor. Pure Price Action reading with no indicators, moving averages or even volume. Just price is enough to give you an edge, just execute it consistently. Love options :).
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.
FII selling has scared the buyers, intraday momentum aligned with larger down sentiment.
This down move is expected to continue till -
17200 which is a major support, need to sustain below it for further downfall.
levels for today -
a. 17200 Major Support, sustains below it then another round of selling.
b. 17400 - If sustains above it, makes higher high/...
Nifty larger sentiment was down, this was just a pull back in larger down sentiment. Nifty was moving in up channel, buyers expecting a reversal to 17800. Follow buyers sellers action and what their expectations are and when they will be in pain!!
Check below chart for detailed analysis -
1. Buyers were buying along...
1. Buyers from a and b were happy that Reliance made 2600. Many who missed this move would be regretting not entering around 2460.
2. c gave buyers chance to buy again around 2450 with hope of 2600 and higher and many bought on 18th Nov.
3. Where they are going to keep their stop ? At what level are these buyers going to exit ? 2450 and 2400.
4. Here is where...
Nifty 50 Analysis for this week in Daily timeframe -
1. Nifty is still in uptrend till it sustains below 18400.
2. 18400 is a major Support zone as from this level only move to 18600 started.
3. We are seeing consolidation going on.
4. 3 up moves to 18210 before going down to 17688 level again.
Change in structure, means sellers were not ready to sell lower like...
A Tutorial on Support and Resistance - Part 1.
What are Support and Resistance ?
Support - Is the price level from where people expect maximum buying/demand to come.
1. Price is falling and it is expected to reverse and move up from Support.
2. Support level is always below current price level.
3. Is used to create buying positions or book profits in shorts.
1. Sell of after open and closed 27.4 % lower.
2. Two attempts were made of buying from 1600 zone -
a. One from 1586 leading to 1723.
b. Second one from 1616 which made lower high than previous swing meaning buyers were getting weaker.
3. Finally sustained below 1600 as buyers failed to fight the selling pressure.
4. Closed near low which means more...
Why Paytm fell so much?
1. Paytm's Rs 18,300 crore IPO, which was the country's largest- this meant a large supply which needed large demand to support it's price.
2. But was subscribed 1.89 times only, this meant lack of demand.
3. Paytm is yet to turn profitable and Is likely to report losses for coming few years.
4. All above points created negative...
BankNifty Intraday -
As visible Buyers got weak after every test of 38400 and now its sustaining below 38400, a change of structure.
Earlier it was sustaining above 38400 but now its sustaining below 38400.
Those buyers who bought will be looking to exit if it continues to sustain below 38400, the trigger for this may be 38200. Most selling will come below...