Tomorrow if BNF crosses today low of 35047 in the first 15 min., it'll go down till 34650 levels. If it doesn't cross, then it's gonna ba volatile day. I'm holding short positions in banknifty. SL is 35200.
Breakout from Inverted Head & Shoulders can be seen in Amara RAja Batteries.
There's even a pullback after the breakout, ehich makes it a perfect BUY position.
Upside potential is huge compared to the downside. It's a swing trade.
Target: 820 (Height of the head)
SL: 740 (Just below the baseline)
R:R = 1:5
The bullish momentum in the last minutes of the trading will cause the BNF index to open gap up tomorrow.
But soon after gap up, price will fall till yesterday's high. Then will try to break the intraday high on 9 Sept but won't be able to do so as it is an expiry day & too much of 37000 calls are written.
So.. one can definitely go long for the next week. My...
The violet line is the RSI plotted on the price chart itself.
Yellow circles are the lows of the RSI.
Blue circles are lows of the price bars.
Once can clearly see that there's an RSI divergence. Price is making lower lows but RSI is making higher lows.
IF price closes above 1670 in a 15 min candle : Go long -----target- 1700
If price breaks below 1650: Go...
Time frame: 75 min.
1) RSI divergence.
2) Inside candle.
3) Morning star pattern.
3) Making higher lows. ( in 15 min TF)
How to trade:
Spot chart- On 29th July if price gives a closing above 34,580 in 5 min candle.
Buy *35000 CE of 5th August expiry.* (Current price 224.)
SL: 50-60 points ( or < 34520)
Good for Swing trade as well as intraday....
Bajajfinance has been trading in a narrow range for quite some time now.
It usually follows how BajFinserve price movement, which has already given a 7 % move after breakout.
Technically Bajaj finance is sitting at a perfect spot for a breakout. ADX is showing a momentum upside.
Buy > 6290
Target: 6600 (4-5% )
Go with pharma index.
If NIFTY is green & pharma is green: If sustains above 953 go long. Target 1 is intraday. Target 2 is for a swing.
If NIFTY is red: if it breaks below & sustains for 15 min. go short.
There's a high change for it going up.
Others points to consider:
On daily timeframe price @ 50 EMA
on hourly timeframe price @ 200 EMA
After the trendline breakout, the price seems to take a pullback & is now testing it's previous resistance which is now a support.
Another support- 200 SMA
So clearly there's a confluence.
Target- All time high
SL- 200 SMA
Previous breakout was predicted at the right time. Link below:
Good for a Swing trade.
This stock has been in a consolidation phase since very very long time. Expect it to break on either side of the triangle.
But I'm more positive on the upside as the price is hovering around the 200 EMA.
It's sitting perfectly on the lower base of the triangle. One can initiate a buy now as the risk to reward will be very suitable. One...
1) Breakout in daily, weekly & even monthly time frames.
2) Breaking out of a down trend of 12 years .
3) Look at the momentum of the move after CORONA.
4) Look at the volumes rising after CORONA.
5) Plot a 50 EMA , you'll see a recent bounce from it.
Hold it for a month or a year until it touches the All time high.
Stoploss- The trendline.