Tradeception_

Tradeception_ Updated 

From 1150 level back in August 2018, Gold rallied up to 2075 highs in August 2020. After that peak it corrected to 1860 in March 2021. 1860 became the short term bottom for the price as price found support there twice in March. Later in August and September price found support twice in the 1730 zone as marked on the chart. The bullish flag pattern would remain...

Tradeception_ Updated 

I do not have the detailed economic understanding of this matter but have observed that a rise in the US 10 year treasury yields leads to a overall feeling of fear and turmoil in the markets. Back in the March and April of 2021, US10Y was continuously making news as it was reaching levels of about 1.75, with commentators discussing how a test of the levels of 2...

Tradeception_ Updated 

USDINR has broken out of the symmetrical triangle pattern formed on the weekly chart which I had discussed in my previous idea. After that it has done a retest of the pattern trendline and the 20EMA on the daily chart. If we observe a continuation bar forming, as explained on the chart, we could see a retest of 75.50 pretty soon. Stay tuned for the continuation...

Tradeception_ Updated 

Nifty has formed a bearish sort of a structure on the daily chart, making a low of 17613 on 29-10-21. Since then it has pulled back to the 20EMA and has formed a bearish continuation bar to the downside today. A short position could be considered keeping the following levels in mind: SHORT BELOW: 17958 STOP LOSS: 18132 TARGET 1: 17784 TARGET 2: 17610 Please do...

Tradeception_ Updated 

JUSTDIAL is stuck in a very narrow range, between 983 and 945. Generally when price moves out of the range, on which ever side it does, it travels further in that direction for about the width of the range. One can go long or short keeping the following levels in mind: LONG ABOVE: 983 STOP LOSS: 945 TARGET: 1021 SHORT BELOW: 945 STOP LOSS: 983 TARGET:...

Tradeception_ Updated 

TCS, the leader of the IT pack, is in a nice uptrend. If we see a continuation of the bar formed today, we should be approaching 4000 odd levels in no time. One could initiate a trade keeping the following levels in mind. _____________________________________________________________________________________________________________________________ LONG ABOVE:...

Tradeception_ Updated 

The price action formation on the SPX seems to be indicating that the market in the US could be taking a pause for now. Price had pulled back from all time highs recently, but now is seeing rejection from the 20EMA. If this trend continues we could see price correcting to the longer term trendline and then the 200EMA on the daily chart. A short position can be...

Tradeception_

On the weekly USDINR chart, there is a symmetrical triangle kind of a formation. It has taken about 20 months to form on the chart. This pattern could break on either side. My bias would be on the long side because the overall trend on the weekly and the monthly chart looks definitely bullish. But I would be open to re evaluate the scenario if it breaks the...

Tradeception_

STOVEKRAFT has been in a nice uptrend and it had made a high of 1017 on 30.08.21. Since then it has pulled back to the 20 EMA and has formed a continuation bar today. It seems that it is poised to continue its upward trend and possibly make new highs. A long trade can be initiated keeping the following levels in mind. Only initiate the trade if price sustains...

Tradeception_ Updated 

After making a high of 3179 on 20.07.21, ASIANPAINT has been consolidating in a range. It recently seems to trying to push upwards towards the resistance and has formed a nice bar which indicates a possible coming breakout. A long can be initiated keeping in mind the following levels : LONG ABOVE : 3115 STOP LOSS : 3048 TARGET 1 : 3182 TARGET 2 :...

Tradeception_ Updated 

Most cement sector stocks seem to be resuming their upward trend after the recent pullback. Amongst them, ACC looks nice to be traded for a swing trade. After running from the 5th July pivot low of 1975 to the swing high of 2454 on 04th August, it seems to have pulled back completing its 38% retracement at around 2275. It also has pulled back to the 20 EMA and has...

Tradeception_ Updated 

ONGC rallied from around 100 levels back in April to about 128 odd levels in June. Since then it has corrected down to 112 and seems to be taking support there. From there it is improving its structure and trying to create higher lows. It has completed a 50% retracement of that rally from 100 to 128, all the while travelling in a downward channel but now it seems...

Tradeception_ Updated 

CIPLA had formed what seems like a head and shoulders pattern, from which it broke down from on 27-07-21. After breaking down from the pattern and range it fell from around 945 level to the 875 level. Since then it has pulled back quite neatly to the bottom of the range and has then created a huge continuation bar to the downside with above average bearish...

Tradeception_ Updated 

HAPPSTMNDS is steadily moving upward, continuously making higher lows. It seems to be resuming its upward trend after the current pullback and 38% retracement. A long trade can be initiated on the daily timeframe. Only initiate the trade if price stays above the "LONG ABOVE" level for at least 15 minutes. LONG ABOVE: 1430 STOP LOSS: 1385 TARGET 1: 1475 TARGET 2:...

Tradeception_ Updated 

BRITANNIA has been narrowing its movement range between two converging lines and the formation is resembling a triangle pattern. Right now it seems to be facing rejection from the upper line of the pattern. One could go short with the following levels in mind: SHORT BELOW: 3575 STOP LOSS: 3645 TARGET 1: 3505 TARGET 2: 3435 ...

Tradeception_ Updated 

It looks life NESTLE is about to breakout and thus push to higher levels. Consider a long position keeping the following levels in mind: LONG ABOVE: 18290 STOP LOSS: 18130 TARGET 1: 18450 TARGET 2: 18610 _______________________________________________________________________________________________________________________________________________________ Manage...

Tradeception_ Updated 

Please check my idea previously posted on 11th July, both targets on TATASTEEL have been reached successfully. :) Jul 11 I had earlier posted an idea on TATASTEEL on 13th June which was closed at cost. TATA STEEL has been in an uptrend, continuously forming higher lows. After the recent complex pullback, it seems rested and ready to move forward and challenge its...

Tradeception_

Please check my idea posted about DMART on 21st July. Both targets have been reached. 5% return in 14 days. :) Jul 21 DMART has been facing rejection from the 3400 level since the mid of June 2021. Despite these multiple rejections, the lows that it makes are gradually becoming higher. It took support at 3250 on 18.06.21, then again on 29.06.21, then it formed...