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ES has a larger time frame resistance band at 2515-30 areas, worth looking for a failure candle and a reversal trade to test back the 2480 regions.

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The last time we discussed NIFTY charts, we arrived at two things. 1. the upper channel low acting as a resistance and 2. the lower ascending trend line holding up. we saw a bounce exactly off those levels. This bounce again paused at the point where we have multiple highs, and yesterday's swing high and an engulfing candle is a confirmation of a potential...

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Start of 2018, I had picked out Gold as the asset class of the year. Then Had a choice between Gold, Equities, OIL and then booming BTC to pick from. While Gold hasnt delivered it has emerged as the best performing asset class of 2018. Coming to 2019- it looks like Gold is in a larger consolidation theme, ranging back to 2013 onwards. There seems to be not much of...

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I have been tracking the longer time frame channel for NIFTY and that channel ( Red marked ) Have held on in the past on many corrections including the one that we had during start of 2018. Now since the channel has broken we have pushed back to the lower end of the channel thrice, including the current peak, but have failed to break through. Now in the past...

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ES broke below the trend lines lows- holding below the zone of 2680 areas it seems to be headed for 2450 zones on the downside

PowerTrades Updated 

USOIL is at the vpoc of 2017 around 49.3. pretty important level to watch out for. can be a low risk swing bounce idea.. break of this can alternatively target the VAL of 2017 at 46.5 zones.

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From here based on candle and volume profile information, Looking at 3 potential scenarios in banknifty in near term in coming sessions. 1. Breakout above 27200 areas - so buy on hold above 27200 areas 2.test of 26800 zones and hold - look for short term weakness to test 26800 provided a hold below prev day VAH 3. break below 26800 for test back to 26380 -...

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NIFTY broke below a crucial reference point, more importantly it has a high at a pivot swing low ( remember the idea of supports turning into resistances) :) well here is a low risk short idea looking for a 100% retracement of the swing- this points to a target of 10200-150. the idea is we had retraced fully the journey made from 10500-10950, form a box for that...

PowerTrades Updated 

BANKNIFTY we made a sort of a top at a very mechanical levels from spot point of view. there is also major pivot highs near the 26800-50 region. Until that is taken out we are likely to retrace back towards the value zones. The mean of this pullback is 26380 areas and that can be a potential retracement zone, The swing low being 26050 areas. the above scenario...

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First signs of rejection from a LVN, a break above 51.40 levels has legs to take it upto 52.75 zones

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The previous week marked a consolidation at a higher level for BANKNIFTY and we also saw a significant divergence between NIFTY and BANKNIFTY. The trading zones of 25540-25640 served as a supply zone for buyers and trading there or above that range should be a candidate for a pullback trade. On the upside a conclusive break above 25750 needs to be supported by...

PowerTrades Updated 

Banknifty close to retracement level tops, Booked the longs in open as laid out in the plan. 25K CE OI is still stacked up and declining volumes in this zone. so odds are in favour for a low probability short.Going short at near 25000 futures levels. with SL above 25150. this can mature into a swing short if 24740 cracks on the downside. else expect a small...

PowerTrades Updated 

BANKNIFTY looks like have formed some sort of temporary base here. so the upside reward versus risk and a probability scenario is more favourable. Until the levels of 24100 hold steady a pull back is a likely scenario. Initial target zones will be 24700 a clear of that can test 25200 levels. Although do remember the long term swing set up still remains bearish....

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27-feb: since few sessions before when we established that the 24850 is a base, Banknifty had a relentless rally to reverse the mid term swing. long term view still remains short. Hence sooner or later it will give a good short opportunity. For a day trading point of view yesterday lot of consolidation happened at the top, indicating some fatigue from the long...

PowerTrades Updated 

23-Feb-2018: We discussed that 24870 will act as the immediate trend decideer. markets now seem to have formed some sort of base at 24840-870 zones. so 24870-24880 can remain a choppy zone where both buyers and sellers remain active. Break down potential is only when we test below 24750. On the upside a break above 24970 keeps an open possibillity to test the...

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BANKNFITY: the weekly resistance is now placed at 25550, any move near that levels , will attract sellers. Last week also saw active sellers at 25600 zones. we have tested the zone of 25250 and until we trade below it, the possibility to test 25000 is open, below that markets can slide quickly to test the 24850,24650 zones. on the contrary a move and susteance...

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NIFTY: Traders/Investors looking for a bounce in NIFTY , should be wary of the 10570-10630 zones. Until that is cleared sellers will be active. On the downside 10400 will hold the base if that cracks sellers will be very active.

PowerTrades Updated 

Feb-07:#NIFTY #NF any pullback is a good exit opportunity for the ones who want to time the mkts. Until we trade abv 10850 zones , correction is not over. Alternatively do Hedge your positions with PE