The_SharkTrader

The_SharkTrader

Nifty is trading in 2 days price range , breakout may give momentum of 80-100 points on upper side. Buying on dips trade will be in favor of main trend & advisable

The_SharkTrader

On friday market closed in previous day's range, therefore support and resistance stays same as last posted levels. Now price has made 2 days range in same levels, so probably breakout may trigger good momentum for intraday considering the trend, buy on dips is more suitable with low risk & high reward

The_SharkTrader

1. Early entry for a false breakout has high reward & small risk but probability for taking SL goes substantially high 2. Wait for closing SL, but it is false breakdown then chances are remote to hit the low 3. Risk to reward is 1:12

The_SharkTrader

1. This breakout has turned around this script 2. Risk to reward is 1:6 3. Trend change confirmation with this breakout

The_SharkTrader

1. Triangle breakout pattern 2. Decisive breakout 3.6 months consolidation before breakout 4.18 months Resistance breakout 5. Major trend is bullish

The_SharkTrader

1. Major trend is Bullish 2. RR is lucrative about 1:5, if trade with aggressive SL 3. If target is 545 levels then keep room for price to move and wait for closing SL below 322 4. If trend changes and price to reverse then follow 305 level as SL

The_SharkTrader

Nifty closed today within yesterday's range. It could lead to momentum tomorrow. Considering last 3 days as a pull back, its can be positional long opportunity Over all we can plan a buy on dip subject to intraday levels if does not break

The_SharkTrader

Yesterday's level worked out dot to dot for today's price action. No new level as such is needed, as small pull back is healthy after BN closing above ATH. Tomorrow can be a trending day, if not tomorrow then we can see the same trending day on Monday so again buy on dips would be a good idea, however intraday move can be subjective to live price action

The_SharkTrader Updated 

1. Gap is filled today, and a decent recovery EOD from gap todays price action seem a pull back, some price reaction we can see at 18420 apart from support and resist marked on the chart

The_SharkTrader

1. 1:10 RR trade 2. Extraordinary RR trade 3. False breakdown to remove weak hands 4. 1.5% SL we can wait for weekly closing below it for set up to fail, if price sustains above support, then reward is handsom, worth the risk

The_SharkTrader

Bank nifty was in yesterday' range, no new price action formed on chart set up is still same buy on dips 2 scenario can work tomorrow 1. If gap wait for price to pull back and enter at dip 2. If price opens gap down, let seller's get exhausted and from support make a buy entry with 50-60 points SL at day's low and 1:3/5 or previous day's high as target

The_SharkTrader

1. Price action supported yesterday's work of support and resistance and no significant demand or supply created today, therefore, price is in consolidation in yesterday's range and trying to sustain this gap, this is only a sign of strength. So trade plan remains same buy on dip

The_SharkTrader

Nifty is more stronger and clear compare to banknifty market is bullish and do not even think to counter trade Trade with trend thats buy on dip only

The_SharkTrader

We have a gap up on weekly chart, if this gap is not filled in this week, then this will most likely to give push to nifty to touch ATH considering the momentum, nifty have only few places to play intraday, in positional view is to buy on dip kind IF opens gap down, then that is a buy opportunity, if open gap up then, wait for price to touch its support level to...

The_SharkTrader

1. Stock price turning out with this breakout 2. Sep 2020 Gap has been filled 3. Breakout is decisive 4.1:4 RR trade set up

The_SharkTrader

1. Weak hands removed with false break down 2. Fresh breakout 3.1:10+ RR trade 4. Trend is bullish in all time frame

The_SharkTrader

1. Freah ATH berakout 2. 5 months consolidation before breakout 3. 25% pull back, holding at upper levels. 4.Time wise correction 5.Simple breakout set up with very lucrative SL

The_SharkTrader

1. Low risk and very high reward 2. Patience will be tested to get such kind of targets 3.Follow SL on weekly closing basis, since its aggressive SL 4. 1:11.95 RR trade