afzal_57

afzal_57 Updated 

Monthly: After forming multiple dojis, the price broke below the weak support indecisively. A weak hammer can be seen forming in Oct. A little bounce to test that zone can be seen this month. Weekly: Price is making LHs and LLs. Last two candles show rejection of resistance. Daily is in nice uptrend. We need a clear break from the Daily TL and price to...

afzal_57 Updated 

With a bearish bias established in Britannia through my earlier post, I am seeing an interesting intraday opportunity to short today. In 15 min, there is a good upward rejection of EMA and Pivot and a subsequent engulfing red candle. RSI Hidden Bearish Divergence also supports. EMA crossover has already occurred far back and trend is on our side. Will look to...

afzal_57 Updated 

Weekly is in a nominal uptrend. The last candle however, broke below the support of 253. There's an Ascending Triange (orange) breakdown in Daily which coincides with the Monthly Support (blue). I had already caught a couple of short trades in ITC using the aggressive 75 mins (Ascending Triangle) . So, with bearish momentum on our side from the...

afzal_57 Updated 

Higher TFs have alreadyy thrown a nice breakout to the ATH. Monthly RSI is overbought now. Looking at the price action, I don't see a big reversal of any sorts. There is a nice 3 Bar Negative Classical Divergence (NCD) in the Daily. Also, it being at the ATHs and overbought levels make it more strong. The last candle was an upside rejection candle, again showing...

afzal_57 Updated 

Writing it in live markets. Weekly at resistance. Red small candles, clear rejections and a bearish hidden RSI divergence gives me a clear weak bias in the weekly. Daily forms a Double Top pattern along with a weak Trendline break. Need a break below the support (Orange line) for swing short. In 75 min. price can be seen breaking below the support (Green...

afzal_57 Updated 

Monthly witnessed a green engulfing candle in October after a great fall with a long lower wick which shows a strong downside rejection. Weekly is at a minor resistance level, rejected it last week. There is a recent TL break also, which can possibly show a reversal. The view is mixed with more weight to towards the bearish side as the higher TF is weak and a...

afzal_57 Updated 

In the Weekly TF, last week, we see rejection of Monthly resistance with a nice candle and a red candle is in the making which is also rejecting the same zone. In the Daily TF, whenever the price has arrived at the monthly level, it smashes down with red engulfings. Also, the short term TL is broken on 8th Nov. So, everything seems bearish. In the 75min,...

afzal_57 Updated 

Already bearish from the higher TF, ITC has moved up to the pivot level and EMAs in the 5 min chart, I have sold for a very tight SL of 255.45. Refer my earlier idea on ITC for more clarity.

afzal_57 Updated 

Looks beautifully bearish in weekly making lower highs. It was at an important weekly level in last two weeks. The red candle rejected the level as well as 50 EMA, giving me a negative bias. On 8th, Trendline was mildly broken with a big engulfing candle and today, it was clearly broken, though with a green 50EMA rejection which a cause of concern. Let's wait...

afzal_57 Updated 

Writing it quickly as it's in live market. 75 min TF has a nice divergence at Daily Support shown by the green arrow. Also, price breaks TL giving me poisitive feel about NSE:ACC . Though, there's nothing in Weekly and Monthly to support. In 15 mins also, there is TL break and support break with big green candle with EMA rejection. A hammer is also formed....

afzal_57 Updated 

Multiple rejections of monthly resistance seen in Daily with choppy candles. Price unable to move up with authority. Resistance apprears strong. Using 75 min TF, Ascending Triangle breakdown, entered short with SL at monthly resistance.

afzal_57 Updated 

Weekly: Nifty witnessed good amount of volatility this year. 12k was tested in May-June apx 4-5 times. Back again, it got tested last week. However, the buildup seems interesting with huge green candles making its way to reach 12k which shows strength of the move. Last week, Moody's news played its part and we had a small red candle when people in general were...

afzal_57 Updated 

In monthly, a pullback to test monthly resistance in a nice downtrend can be seen, which gives us a potential short assuming that the trend is not yet exhausted. Weekly is in a nice downtrend since many months now and a doji has rejected the monthly resistance which is negative again. However, we see a TL break with big green candle in weekly which is a point...

afzal_57 Updated 

NSE:WIPRO Weekly price at a good resistance zone with shrinking green candles giving a slight negative bias of a quick short. Daily is in an uptrend after the recent TL break. To confirm a trend change, the new TL needs to be broken in daily which has not yet happened. However, we look for an aggressive entry based on the 15 min TF based on the following: 1. EMA...

afzal_57 Updated 

Weekly is at a minor resistance level and recent uptrend seems to be losing strength looking at the candles. Today, price broke daily TL with a small gap down. Time to go positionally short with SL of 491 and target of 429.

afzal_57 Updated 

With a bearish bias established in Britannia through my earlier post ( ), I am seeing an interesting intraday opportunity to short at the opening today. In 15 min, there is a good upward rejection of EMA and Pivot. EMA crossover has already occurred and trend is on our side. Will look to short with SL of 3242 and a 1:1 target

afzal_57 Updated 

Monthly gives a mixed view with green candles and minor resistance rejections. Weekly:- Doji formed at Monthly Resistance, price losing steam, showcasing negative bias. In daily, there is a nominal bearish divergence in RSI as well as red candle rejection of monthly resistance. Now, awaiting a TL break to further confirm this bearishness and go short with...

afzal_57 Updated 

With a short bias already established through higher TFs and holding positional short (refer earlier post: ), intraday 15 min too presented a good opportunity to enter short. A big green candle rejected pivot and immediate 15 min resistance followed by a red candle where we took entry. SL at immediate resistance of 582.5. A close below 50EMA would be interesting.