Ambuja Cements has fallen below March low. Am tracking this for an early long opportunity. Maybe next week. It had fairly decent results...
I'm keeping a close watch on these counters. I think they are headed up. Already did a quick BTST on Biocon and closed for a small profit. Being Friday, shall engage with caution. However, I will keep checking for opportunity here.
Biocon time to go long? 1. Daily shows 50% retracement of the rise since 23rd March 2. 30 min 3 Line break and 30 min Renko developing up bricks 3. Fairly tight SL below low of 7th May candle - 612 ...Perhaps after Karnataka election results and the Iran developments (both these are potential time bombs though markets seem to be ignoring it)
Nifty filled the gap between Feb 2-4 and seems to have formed something of a double top. Shorted with an SL above 10798 (futures price) STBT.
Shorted ICICI Bank for two days. Finally closed with about 4 points per lot (futures). Very enjoyable!!
My weekend analysis of Tata Steel. This is NOT a trade recommendation. On the weekly charts it has gone down 127.2% of the range from about mid January till first week February which is quite typical Wolfe analysis and probable Fibonacci and Support Resistance levels of Daily candles supports what the weekly chart is showing I wish to thank user Praveen Bhatiya...
The approximately 6% rise in ICICI Bank is unbelievable in the light of bad results, very questionable management ethics, boardroom disagreements... I think the rise was manipulated and cannot last. Shorted @ 309 (futures price).
Bank Nifty 1hr/30min may have formed a bullish butterfly
Weekly and Daily chart comparison for Bank Nifty Bank Nifty is at significant resistance levels. National and global uncertainty mentioned in the chart could lead to consolidation or unexpected price action. Fairly high risk when trading this week. Be careful.
These are the results of some range calculations I have been using regularly for some months. These Fibonacci based ranges work for any candle duration. The present calculation is based on price action of the week April 23rd-27th 2018. Valid from April 30th-4th May 2018
Hero is to announce earnings today... Renko and Linew charts are showing pessimism. Perhaps the big players know something that retail traders do not know.
Long on Maruti @8837 (May futures price). Tight SL with good risk/reward ratio MFI and OBV at very low levels Ichimoku Chikou Span will hopefully emerge from congestion Much of the market is overbought but Maruti has fallen significantly
Biocon earnings are on tomorrow. Renko Daily & 4hr Added an up Brick (green). this could indicate that the big players are set to send the price up. Renko going up on before news (earnings) and an event (expiry) despite the sight increase in ATR 14 is often an indication that the big guys know something positive about Biocon. Observe but trade only if convinced....
These are the results of some range calculations I have been using regularly for some months. These Fibonacci based ranges work for any candle duration. This is a variation of Classical Pivots and Camarilla . The present calculation is based on price action of the week April 16th-20th 2018. Valid from April 23rd-27th 2018 . Can be used in combination with the...
Nifty should have corrected few days back. But it appears that Market Makers may not allow Nifty correction. Renko charts (ATR 14 based) in Daily, 1hr, 30mion and 15min are solidly in the green. This could indicate an approx 80% chance that the market may continue to rise a bit tomorrow. Best not to trade in the index till after expiry.
Nifty Short: - Ref to my Daily chart of 23rd April 2018 - Bearish Butterfly on 1hr/30min charts - Price rise with low volumes - April Futures expiry coming up
On the daily chart it seems like its time for a correction. - Dojis & narrow range candles with low volumes - If this is a H&S pattern then perhaps the neckline level is achieved and it is heading for the shoulder - RSI/Price divergence on 1hr/30min charts - SL could be above 10700 Ref to my 30min chart dated 23rd April 2018
It seems like Nifty is definitely overbought. There is also the expiry coming up. This is my plan for trading on 24th April after observing price action for sometime. Levels can be co-related to the high probability ranges I had posted earlier.