UnknownUnicorn20734830

UnknownUnicorn20734830

In daily time frame the SUNTECK is forming a Flag pole structure hence breaking the above resistance the price might reach the target of 640

UnknownUnicorn20734830

1. If one is looking to initiate long in NIFTY then one must wait for strong daily closing above 17830 which is acting as a heavy suuply / resistance. 2. But there is also a stong demand / support zone which starts at 15950 will may act as a good buying zone if at all the price goes there.

UnknownUnicorn20734830 Updated 

Nifty never closed below this trendline in daily candle since covid. Now shorted the index with the stoploss mentioned in the chart (daily closing). Let's see

UnknownUnicorn20734830

The major support in banknifty is found at around 34000. This support is also aligns with the trendline. One may expect a reversal here...

UnknownUnicorn20734830

We need a decisive price beakout above 2500 for reliance to move up...till then no positions

UnknownUnicorn20734830 Updated 

Dabur chart is forming a beautiful volume contraction pattern (VCP). This price action pattern is my favorite.

UnknownUnicorn20734830 Updated 

This chart shows the NIFTY in weekly time frame. As you can see whenever the price comes so this trendline demand comes and the price followed its uptrend. So the million dollar question is whether this time it respects the trendline or not! if this trendline breaks in weekly time frame then we might see a price correction of 10%

UnknownUnicorn20734830

BANKNIFTY clearly underperforms NIFTY. In order to outperform the price has to come out of the channel and sustain above its immediate resistance (ATH). Its good to initiate long if the price action shows some bullishness when the price touches the channel bottom.

UnknownUnicorn20734830

HDFC BANK forming a triangle pattern/Volatility contaction accompanied by Volume contraction as well.

UnknownUnicorn20734830

One can go long with the stop loss mentioned in the chart

UnknownUnicorn20734830

A weekly close above this trendline might open further upside.

UnknownUnicorn20734830

In this chart you can clearly see that the NIFTY price took support on the trendline three times before is broke down. Now the price is exactly taking support at 100 DMA. So if the price closes below it will provide the long term investors a greatest number of opportunities to accumulate quality stocks when the prices falls to the mentioned pivot area.