Reasons for Shorting:
1) Forming LHs and LLs. In a descending channel and
2) Range becoming narrow.
Entry: Can enter near resistance area upon rejection.
SL and Target: SL can be above the resistance zone and plan target accordingly.
Reasons for long position and setup:
1) About to breakout from Bullish rectangle pattern.
2) 20, 50 EMAs indicating an uptrend
3) Took good support at 1284-1285.
Entry : After breakout from rectangle and resistance. Ideal entry above 1,305.
Stop Loss : Can keep below the support zone (now a resistance) near 1,290-1,295
Target : First target is near...
Reasons for Short and Setup:
1) Huge Bearish candle (on Daily) on Thursday and Gravestone Doji on Friday indicate trend continuation.
2) Trading below 20 and 50 EMAs.
Entry: Can enter below 200.00 after breakdown with volume. Ideal entry 198.50
Stop Loss: Can keep at 204.00 - 204.50
Target: Can lookout for 190-189 depending on selling pressure....
Reasons for going short and setup:
1) About to break from Head & Shoulders pattern.
2) Trading below 100 and 50 EMAs
3) Selling pressure seen as it is near around all time high.
Entry: After breakdown from neckline with good volume. Ideal entry below 850.50.
Stop Loss: Can keep at 856.00; slightly above the support zone.
Target: First target near 840.00...
Reasons for going long:
1) Breakout from Cup and Handle pattern after consolidation.
2) Also a trendline breakout with good volume.
3) Trading above 20, 50 and 200 EMAs
Entry: Can wait for the resistance area to be breached with good volumes and can enter on retracement or with the momentum. Can enter between 1,332.00 to 1,335.00.
Stop Loss: Can place below...
Currently price is at a very crucial level which is - Previous swing's high which is also a good support level and Fibo Retacement level of 0.236.
2 possibilities from here:
1) Most probable - The support holds and upper target will be 763.00 to 765.00 levels. Can enter after the trendline breakout with good volumes. Also still trading above 50 and 100 EMAs.
Reasons for going long and Setup (Positional Long):
1) About to breakout from bullish flag consolidation.
2) Crossed resistance which is now a support.
3) Trading above 50 and 100 EMAs
Entry: Can enter after breakout with good volume. Ideal entry above 1,056.00
Stop Loss: Place at or slightly below the support zone. Safe players can trail stop loss once...
Reasons for going Long and Setup:
1) About to breakout from a Bullish Rectangle flag pattern. (Check with 2 and 4 hour TF; The pole is a bit distorted)
2) Bounce back from the support trendline and breached the Resistance (now Support) with good buying volume
3) Trading above 50, 100 and 200 EMAs
Entry: Can enter between 187.00 to 187.50 after breakout from...
Reasons for Shorting and Setup:
1) Continuous selling pressure from June with good selling volumes at 2 previous supports.
2) Making some Lower Highs from June.
3) Trading below 50, 100 and 200 EMAs
Entry: Can enter around 149.00 to 149.50 after the breakdown of major support with good volumes. Entry level was kept bit lower to the support for a buffer.
Reasons for Short position and Setup:
1) Had given a breakdown with good volume at the Support level and is currently trying to breach.
2) Currently trading below 50, 100 and 200 EMAs.
Entry: Can enter around 316.00 to 315.50, after breakdown from the support with good volume (can use 20 MA on Volume to verify)
Stop loss: Keep SL at 320.50 slightly above...
Reasons for Long:
1) Start of an uptrend with Bank NIFTY moving up and made a new Higher Low at Major support.
2) Breakout and Resistance breach with volume double the average and further buying with above average volume.
Entry: Enter on Monday after open or can wait for retracement to the Support.
SL: Have strict 1:1 RR upon entry.
Note: Follow Bank NIFTY and...
Reasons for long:
1) In a rising upward channel.
2) Approaching a major Resistance area.
3) If buying continues, then can reach the resistance area.
Entry - If previous high is broken with volumes in previous 15 minute time frame
Note: Risk averting traders need not enter as it can fall quick.
Reasons for Long:
1) About to give an inverse Head and Shoulders breakout from major Resistance zone.
2) Bank NIFTY trying to catch up with NIFTY 50 in uptrend.
Entry - Upon Breakout of Resistance with good volume (double the average volume). Ideal entry 528 to 530.
SL and Exit - Can trade with 1:1 RR ratio.
Note: Watch Bank NIFTY closely for it's trend.
Reasons for Long:
1) In a strong uptrend.
2) Almost nearing all time high.
3) About to Breakout with Bullish Rectangle pattern.
Breakout with good volumes can resume the trend.
Entry - Right after the breakout
Stop Loss - 262 after entry. Once first target is achieved, then can trail SL to ride the trend.
Reasons for going Long:
1) All Pharma stocks in Uptrend and NIFTY Pharma is also at a small consolidation after rally.
2) Good news on Covid drugs.
3) The Falling wedge and Head and Shoulders breakout patterns happened with a good volume and now at a last kiss near crucial resistance. Any breakout with Good volume will achieve the first and second targets.