The_SharkTrader

The_SharkTrader

As posted on thursday analysis, price beautifully recovered. Nifty & banknifty both are few points away to break ATH. IN coming days few can see a good momentum. As yet direction is up, however every breakout to be traded carefully

The_SharkTrader

Nifty is trade just below the ATH resistance, we are about get some trending days ahead. Best price action for Monday is price opening at fridays close & take support and bounce for the target of ATH resistance. If gap up then we can wait for a pull as small as to fill the gap of friday close and shoot up. Say no to random trading

The_SharkTrader

1. 2 years consolidation 2. Near to Breakout level 3. 1:4+ RR trade 4. Trend is bullish in all time frames

The_SharkTrader

1. Breakout on daily TF 2. Weekly breakout to watch for to go for short term investing 3.RR is very lucrative with pyramiding perspective from 1:5 or 1:10 RR

The_SharkTrader Updated 

1. Falling wedge pattern Breakout 2. Price is trading at support 3. 14 months consolidation 4. Decisive breakout 5. ATH can be seen considering the consolidation and a new ATH can be witnessed

The_SharkTrader

1. Price is trading near to ATH zone 2. Price took support at uptrend trend line 3. Major trend is bullish 4. Risk to reward is very lucrative 1:5+ RR

The_SharkTrader

Nifty price action is more clear and crisp then banknifty Banknifty is clearly choppy and does not have participation of big player, this price action is more of news awaited to pick a direction. So until the direction is not clear, do not trade with regular qty. But Banknifty will have big move in coming days

The_SharkTrader

Price trading in previous day's range Safe trade only out side the range. Monday went in consolidation, today can expect some kind of move. Structure does not seem for a big move on upside but pressure can be seen to push price lower. Good RR trade set up near to marked support & resistance area only with 10-20 points SL and 3/5 time the target.

The_SharkTrader Updated 

1. Price taking support of past resistnace 2. Bullish engulfing formation at price reversal point 3. Risk to reward is lucrative 4. Follow candle close for stop loss

The_SharkTrader

1. 5 months consolidation 2. Trend is bullish 3. RR is 1:4 4. Price is holding above breakout levels

The_SharkTrader

Banknifty is facing resistance at ATH Price is back to the range, this profit booking was expected as mentioned on wednesday post. Now what can we expect is small scalp trade from support and resistance as banknifty has support and resistance on every few points so potential move can only be seen out of range thats again at break of ATH.

The_SharkTrader

As mentioned in last analysis from ATH we could see some serious profit booking without any pull back However CMP (current market price trading at support and a gap up can be seen on Monday, if so then we can plan for a pull back from the same support price can bounce If price open gaps down then support will turn into resistance and with small risk 1:4+ RR...

The_SharkTrader

Banknfity is not as strong as nifty when it comes to picking up momentum still we have ATH resitance to cross for banknifty and make new high that will lead to good momentum

The_SharkTrader

Today nifty gave breakout of range and now only 2 marked resistance on the chart, this resistance holds the potential for price to reverse, as profit booking can be seen. as yet minimum target we can expect ATH.

The_SharkTrader Updated 

Nifty filled the gap and bounced after building the base, but over all it is in range same as last 5 days buying on dip worked well, and same plan is for tomorrow most likely tomorrow is a gap up, if so wait for dip to buy and resistance will turn into support if gap down then we have support market with 15-20 points SL, we can plan for 1:4/5 RR trade

The_SharkTrader

Following another day in a range and buy on dips worked fine, and same can be planned for tomorrow as well few 25-35 points SL from entry point would have give 1:4+ RR

The_SharkTrader

Market is in side way, which is also expect being at ATH breakout For intraday scalp trade would be advisable, big momentum is only possible out the range

The_SharkTrader

Price is consolidating from 5 days between 18480 -18670 It is definitely not having any weakness, Buy at support and sell at resistance, would be advisable