Sanjan91

Sanjan91

SBI has broken out of the ascending triangle and also broke a strong supply zone. The price broke the supply zone and a pullback has been seen. The price took the support of the zone and the trendline successfully. The target is the height of the ascending triangle above the breakout level. So, it comes out to be around 540. Stop loss must be placed below...

Sanjan91

The highs made in Feb 2021 and Jun 2021 were broken. They formed a strong supply zone, which was broken and has been tested successfully with today's bounce. Tomorrow being an expiry day, we couldn't see much action or may see consolidation but a rally could be expected in the second half-session tomorrow and may continue on Friday too. We shall try to analyze...

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ICICI bank's price has been forming a rising wedge pattern which has got broken today. According to the height of the pole and XABCD bullish shark pattern, the target is set at 647. The trade setup is to buy ICICI when it reaches 647 or short if there's a pullback to confirm the fall. The stoploss here is to place at C according to both the patterns, which is...

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A support trendline has been forming on the price chart of Wipro since the 1st quarter results in April 2021. A similar spike in volume and price was observed around the result date in the 2nd quarter results also. So, expecting this as a pattern the institution buyers are following, we can risk a mere 2% as a stoploss and take the long trade. Long when the...

Sanjan91

The Reciprocal ABCD pattern formed demand zone has been respected by the market until now. See until the day's end, if this zone is broken, then you can expect a major fall. I will attach a similar idea on the DJI futures chart here. Please look at both of them to make a decision. Don't just carry a short position beyond today's trading session. Wait for...

Sanjan91

This is just a brief idea of what could happen in the week. If any positive news from the FED, the markets could take a nice bullish reversal. Don't carry any short positions just yet. Because shorting from here has very less risk-reward ratio. The harmonics work better when the RSI also concurs. The bullish ABCD pattern when the RSI indicating...

Sanjan91

Aegis logistics stock price has been falling since July month. But it has now neared a point where a possible reversal may be seen. The RSI on weekly basis is indicating the stock as undervalued and more importantly, this is nearing the XABCD bullish crab pattern's terminal bar price. in the past, we have seen a very good reversal from the terminal bar price of...

Sanjan91

Stovekraft price has seen a sharp rise from 783 to 1018 level and consolidated in a zone until recently. The price has broken out the range with high volumes and took a pullback and rose today. If the price manages to stay above 1068, the pullback will be a success, you can go long. The stoploss and target levels are mentioned on the chart. Happy trading...

Sanjan91

Coal India stock price has shown a nice rise of 6.39% today with good volumes. The price was trading in a falling channel, the price broke above the ABCD pattern's resistance level. This is a break-out level. The price is currently at a rejection point from where the massive fall in price had occurred in the past. It is important for the price to sustain above...

Sanjan91

Currently, in this choppy market like today, buying at supports and exit at resistance is preferred. Here, in my opinion, the best level to go long again in nifty is 17780, where put writers will support as well as XABCD reversal level will support. Be patient and do not jump in option buy positions as today is Friday. You shouldn't be stuck until Monday to...

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The stock price has broken out its previous swing high and also the falling trendline with higher volumes. This is a bullish sign. Currently, the price is trading at the supply zone. Breaking this price could give us a rise to 150 or more. But book your profits at 150 and wait for the price action to re-enter again. The two long scenarios and their stop loss...

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Nifty has bounced off from the above supply turned demand zone and then closed below this zone. As observed, the price took a stop at 3.618 retracement of ABCD pattern. But looking at the DJI index, nifty is likely to open with a gap down. Here, 17400,17300, and 17200 have a good OI on the put side, meaning they are good supports. This has to be interpreted in...

Sanjan91

Tata steel's price has taken a drastic fall today. The price is near the demand zone set by the XABCD bullish bat pattern. If the price bounces off from the demand zone, we can go long and consider targets mentioned on the charts. The stop loss level mentioned on the chart is technically sound support, if this level is broken, the fall could be drastic and can...

Sanjan91

FCL gave a multi-year breakout, buying on the dip is advised up to 106. 106 level is an important support level to hold. The targets are mentioned on the chart. The XABCD bearish shark pattern gives the target of 218. Stop-loss as per your risk appetite. Happy trading :) This is just for educational purposes.

Sanjan91

ITC gave a long-awaited breakout today. But, for more upside, ITC has to cross the supply zone/PRZ mentioned on the chart. The XABCD bearish Gartley, bat, and crab patterns set the targets for the ITC price in the future. The stop loss has to be placed below the demand zone. If the stop loss percentage is above your risk, consider as per your appetite. Happy...

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Sea pony and Sea horse pattern is observed in Nifty. The target and stop loss levels are mentioned on the chart. Happy trading :) This is just for educational purposes.

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Bank Nifty took support from an important trendline. Here you can see two patterns, one is XABCD bearish butterfly pattern and the other one is the ACBD pattern. The butterfly pattern gives us a target level at 37131, a level from which bears gained power. Above this level, we can expect a huge short covering. If the index breaks the trendline, then short if...

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Nifty is currently trading above a minor potential reversal zone. We shall see if it breaks below or sustains above the zone. As we can see, the index is in a narrow range. As per option data, the index could be consolidating between 17300-17400. Wait for the price to reach the demand zone or supply zone to open up a position. The levels for both longs and shorts...