Siddharth1707

Siddharth1707

I just found William fractals as a handy tool to spot resistance and support levels. These triangles that you see indicate highs and lows in the chart. I could see 17800 as a critical support level with 50 ema support and previous candle rejection. Trade Idea Bullish call spread with RR ratio of 2:1 if there's a gap up with strong bullish candles. Disclaimer:...

Siddharth1707

We saw the price had a strong rejection near 16000 levels. This might give us a clue about the long-term bearish outlook in the market right now. Possible trade options Bear put spread, Naked put calls

Siddharth1707

In previous chart analysis, we have seen 15900 as strong resistance which could be broken looking at the push from the ascending triangle seen here. I will be waiting for the supply zone to break to the upside. Trade to put if 15900 break: Naked monthly put sell at 15700 with SL as option chain data show massive put selling at that level Bull put spread: Sell...

Siddharth1707

NIFTY weekly charts are in a downward trending channel forming lower highs and lower lows. Last week's candle shows hammer with the rejection from the bottom. Strong resistance is at 15925 and support at 15500 levels. Strong moves could be seen if these levels are broken.

Siddharth1707 Updated 

In my previous analysis, I spoke about NIFTY being stuck in 2 channels at a DAILY time frame. Here again, I bring to you another channel but in a smaller time frame of 15 MIN. Looks like it's in a perfect descending channel ready to break. If there's a gap down it will enter the bearish territory. FIIs are putting a huge selling pressure so my bet is that it may...

Siddharth1707

For the last 2 days, we see Bank Nifty opening with a Gap down and giving a sideways price action. Being a monthly expiry tomorrow, we may see some volatility during the second half. We could see 34000 is key resistance and 32000 is support. So look for big moves happening above or below it. Happy expiry!

Siddharth1707 Updated 

You might be now aware of the downtrend channel of NIFTY 50 (Blue). It bounced from the lower end of the channel last week and now trading near the supply zone of older channel (Green). It may consolidate in this channel for a while but chances are that it can break this channel to get into bearish territory.

Siddharth1707

BANK NIFTY has been down-trending and currently trading in the middle of the channel (blue). The price rejection seen from support turned resistance (red). We could see Bank nifty is currently in bearish territory.