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TradersVenue

#BankNifty is trading very crucial level. There are multiple reasons why its so. 26712 is a level which was a crucial resistance level in 2018. In 2019 twice it took support near that level. Now it may act as polarity zone, where it may act as support turned resistance after nearly 4000 point move after breakout above 22351. It can either retrace from these level...

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RSIStairs broke down below 50 and nearest support level, for the first time after 21st April. It has given a breakdown from the #SymmetricalTriangle pattern too. Is this the start of end of long term bullish trend? Possibly yes. Not necessary it will go down to wires. But a definite point of exiting the longs. Either it will go under consolidation or give a...

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#SBIN looks bullish. With market making new highs, it can make a breakout on upside soon. Multiple indicators indicating bullishness. Only aspect would be how someone keeps his R:R under control. Can test 205 on upside in this expiry itself.

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Would like to go for BTST in #HDFCBank @1082.5 with SL of 1072/1065 as convenient to you. Target 1114++

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Inverted head and shoulders in #DLF. Stock is bullish with SL of 156 as positional basis.

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A high promising short term long candidate basis price volume action. Possible targets 3175/3285

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#Nifty has given an inverted head and shoulders breakout above 11567. Possible futures target is 11903. SL = 11395 on hourly closing basis. Good to go with protected bullish spreads.

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Yesterday, last 75M price volume action was bullish and stock closed near high point of the day. #AxisBank looking good on long side with SL = 438, TGT = 460/467/474.5. #DarvasBox has given buy signal.

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#HeroMotoCo has formed a HnS pattern on 75M scale. It has broke down below the major neckline of 2965 and trading below VPOC of 9490. Textbook target for the HnS pattern is 2740, however stock may not reach that level so soon. One may think of deploying a net credit #BearCallSpread to play this trade. RSI, ADX, DarvasBox, SuperTrend all giving sell signal on 75M scale.

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Starting from 1st June 2020 RSI color was green means trend was bullish. After 3 months of time first time RSI has turned orange means break in the trend. Good time to sell CE or short NIfty with protection. Seems like we have made an interim top for now. Not sure how much it will go down, however 11111/10827/10575 revisit looks possible. Any current long position...

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Below 900 its a gap fill candidate. Have been bearish below 935. Below 900 will long PE naked, provided RSI falls below 40.

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#Nifty made #BearishBeltHold / #BearishEngulphing pattern on weekly scale. Next week if it trades and sustains below 11289 then it can test 11113/10827/10562 (All Spot levels)

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If BankNifty sustains below the HVN low of 23531 then revisit of the previous VAH 22440 is possible. There is no interbetween support within the range. Positional short trigger below DBXS - 23383. Weaker global cues may support this move thick and fast.

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A potential crash landing candidate below 198. Amid weak global cues, if market opens gap down, it can give a high risk reward trade with SL above 202-207 basis opening price with a target of 180 on positional basis. RSI is indicating weakness and it was falling on a strong market. When weakness evolves in banking and financial shares, it will lead the way on downside.

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#M_M has formed HnS in 15M TF. Its trading below 75M VWAP price of 636. HnS Confirmation upon breakdown below neckline of 629.35 with a potential target of 600 and SL of 644.25.

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#Nifty weekly RSI has crossed over above 60 indicating bulls in full control. As per history, positive RSI(14) crossover above 60 on a weekly scale, has yielded good upside moves. There are few failover cases too but going by statistics winning chances are higher. FII's are buying continuously and they are net buyers on almost 85% trading days in the last 40 days...

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IOC looking good for a long with SL of 87.2. Trading inside the value area near VPOC in 75M TF chart. Looks likely to breakout on upside. On weekly scale it has formed #NR7IB. Breakout above 88.45 can open targets for 91.25/95.

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After long journey JSWSteel looks weak. It has broken down below the weekly VWAPHave given sell signal on 75M TF and PnF charts about to generate a Triple bottom sell. Would be a nice shorting idea below PDL and HVN low of 282. Risk reward looks very attractive at current price levels.