Bank Nifty on the monthly chart is trading near the upwards trending resistance line, Forming some sort of rising wedge pattern as well on shorter tf.
Although as of now there is no sign of bearishness, but if the trend reversal happens we might see the targets of 32375 in Bank Nifty which is 0.5 Fib retracement level, as well as an important support level, also...
Nifty Midcap 100 is at Monthly parallel channel resistance.
In the past Nifty midcap 100 monthly RSI has crossed 79, 7 times and every time we have seen a descent correction. Currently, the Monthly RSI is near 78 again.
Year Correction
2004 27%
2005 13%
2006 38%
2008 68%
2015 16%
2018 50%
2022 25%
The Nifty Midcap space has shown constant Green candles for the...
HCL Tech Long candidate
Buy above 1256
Targets of 1268 / 1288
With SL below 1249
Trade Setup
>Reversing from 0.5 Fib retracement of the recent rally.
>Good consolidation range from recent few days.
>Hourly Bullish engulfing with good volume support.
>Hourly RSI and MACD forming Divergence
>Results on 11 Oct, can trigger as a catalyst for bullish...
Nifty Looking good for shorting
Short near 19650
Targets 19566 / 19500
SL 19700
Trade setup
Hourly Trendline
15-min Rising wedge pattern
Fib Retracement of 0.618 { taken from 19850 - 19333 }
#Nifty50
#Voltas
Voltas weekly if closes above 800 we will see good momentum.
Targets 928/1111
SL 780/740
Results are on 3rd Aug which may act as a trigger point for uptrend.
SETUP:
- Weekly RSI Divergence.
- DOuble Bottom pattern at support.
- Breakout of down trendline.
- Monthly trendline support.
ICICI BANK SHORT (Hourly Chart)
Short below 934
Targets: 925/911
SL: 939
- Tight Consolidation of one month.
- Descending Triangle Pattern in Hourly tf.
- Weekly Resistance Reversal
- Consolidation and distribution phase near All-time High (ATH).
- Breakdown Below 200 EMA (hourly) and close below 934 will trigger a quick sell-off.
Nifty Financial Services Short Setup
Short in the range of 19460-500
SL 19642
Targets 19140 / 19000
TRADE SETUP
- Weekly Resistance zone 19500-600
- Daily RSI divergence
- Shorting range is 0.5 - 0.618 Fib Retracement
*For Educational Purpose Only*
Buy Trent Ltd. Above 1380
Stop Loss: 1344
Target 1479
- Trading in strong resistance zone of 1365-70.
- Weekly MACD crossover.
- Accumulation phase could end with sudden volume spike in bulls favour.
About: Trent Ltd is engaged in retailing of apparels, footwear, accessories, toys, games, food, grocery & non food products through various of its retail formats/...
