TheNoobDayTrader

TheNoobDayTrader Updated 

Nifty has been breaking it's resistance from last 2 days and was showing upward momentum. 5th July 2021 Nifty closed near it's strong resistance of 15845. Nifty wasn't able to break it and closed at 15834.35 with a red doji candle in 15 minute chart. Though market looks bullish but there isn't enough momentum to push it forward right now. At the time of...

TheNoobDayTrader Updated 

In my Nifty Analysis of 6th July I have written that Nifty may give false break out above 15845 and it happened as expected. So why I said that? Because Global market were showing negative sentiment on their respective chart. There were no positive atmosphere or news in Global market neither in Indian domestic market but nifty was going high. Which means the...

TheNoobDayTrader Updated 

IRCTC broke it's 52 week high today and closed above it's 52 week high. Looking very bullish for future. BUY above 2200 for a target up to 2640. Which 127% level of Fibonacci. Stop Loss is 2160. DO YOUR POSITION SIZING CORRECTLY.

TheNoobDayTrader

Before coming to what will or what could happen on 8th July 2021, let's take a look at some of the key important factors. What could move Nifty up and what could bring Nifty down. 1. Till now Nifty tested it's 15900 to 15920 range 4 times. 2. Global market is positive but sideways. 3. Nifty created a new support for itself at 15800, so until 15800 is broken Nifty...

TheNoobDayTrader

TATAMOTORS was trading between a channel from long time. Today it gave upside break out but failed to hold momentum or go above 360. As a result many people booked their profits and also short selling came.

TheNoobDayTrader

Global market ended in positive on Friday but there isn't enough momentum to push Nifty above it's strong resistance point 15845. Nifty closed on Friday at 15722.20 and the nearest resistance is 15761. Nifty closed near it's 200 MA, if nifty sustain over 200 MA then there will be up move. Nifty will open gap up on Monday morning. If Nifty open above 15761 and...

TheNoobDayTrader

Double top is formed in weekly chart of TATAMOTORS, Key level to watch is 360. The price may now go to test 360 zone. Now it would be interesting to see whether TATAMOTORS can give breakout above 360 or reverse from 360. If you are looking to invest in this stock then you should only do so if it gives breakout above 360 and sustain in daily chart. Otherwise it...

TheNoobDayTrader Updated 

Reason: RELIANCE is below it 50 Moving Average and 20 Moving Average. It may try test it's 2113 level. In 2 scenario you can short for a target up to 2078. 1st scenario to short: Reliance test it's 2113 level and fail to give breakout. Stop loss would be 2122. 2nd scenario to short: Reliance can't go above 2102 and fail to give breakout, in this case stop loss...

TheNoobDayTrader Updated 

Script name: TATAMOTORS Today I made it more clear for you guys and marked the zone from where you should enter into the trade. Reason: 345 is a major resistance zone for TATAMOTORS and price got rejected from here today. A down ward trend line and price is below 20 MA. 345 to 346 is your Entry zone as marked in the chart. Stop loss would be above 348. RISK TO...

TheNoobDayTrader Updated 

Nifty has reached it's support today, which was 15673 and closed above 15673. Global market sentiment is positive also. So what to expect tomorrow: Nifty will open gap up, profit booking of overnight positions may come but it will go upward to test it's resistance of 15751 to 15761. What you can do: You can enter into buy position tomorrow until nifty price get...

TheNoobDayTrader Updated 

Nifty opened gap up on 30th June and above the trend line which I have drawn, tested 15800 at the beginning and went to test it's resistance level of 15835. For 2 hours Nifty stayed sideways and after that selling came. Now 15835 to 15845 become a Major Resistance for nifty. So what to expect for 1st July 2021? Nifty may open gap down or flat on 1st July 2021....

TheNoobDayTrader Updated 

As expected Nifty today took support at 15750. I hope you guys enjoyed the fall. So what to expect now? 15800 is new Resistance for Nifty. As you can see in the chart. Though Nifty is in downtrend as you can see in the 15 minute chart. Nifty testing is 200 MA support, but I don't expect a big fall tomorrow. There will be two opening scenario for tomorrow. 1....

TheNoobDayTrader Updated 

Yesterday I said there will be no upward momentum in Nifty because there is nothing positive to push it up. As predicted Nifty came for selling from 15920 and closed today below support level of 15834 and also below 20 MA, 50 MA. Tomorrow one can expect Nifty to go down 100 to 150 points. If it breaks it's support of 15750 then more downfall is expected. 15850...

TheNoobDayTrader Updated 

As you can see there isn't much room for nifty to go up. 15900 looks as strong resistance and it also forming like double top in 15 minute chart. Nifty may give breakout above 15900 but it will reverse back. Because there isn't much positive atmosphere in Global market neither in Indian domestic market. So tomorrow one can expect a fall from 15900 or from above...

TheNoobDayTrader Updated 

If tomorrow SAIL goes below 130, or it retest 132 range and fail to give breakout, then you can short it from 132 or from 130. Target can be set up to 126.50. Stop loss would be above 132.80 if you short nearby 132 / If you short nearby 130 then stop loss would be 132.20 . Risk to reward is 1:1 or 1:1.5. Do your position sizing correctly. You can expect to get...

TheNoobDayTrader

I made the chart more clear, so you guys can understand better. Yesterday I shared Nifty got 2 resistance but today after getting rejected from 15750 now nifty added a new resistance before it can go up. I have drawn anther trend line which shows Nifty in down trend channel and will reach 15600 and if Nifty breaks 15600 then you can expect a 100 points down fall...

TheNoobDayTrader

Nifty got two Major Resistance, as you can see in the chart. 1st Major Resistance is at 15900 to 15920 level, from where nifty reversed more than 3 times. 2nd Major Resistance is at 15835 to 15845 level, which is also tested 4 times including today. If Nifty gives break out 15920 and sustain, only then there will be any up trend. Otherwise market will head...

TheNoobDayTrader

SAIL tested it trend line and got rejected with a negative candle. See the below linked article for details. Thank you