Nifty, If you have been following me, I was shouting from the top of my voice to sell when Nifty was above 18000. Yesterday I had mentioned 2 things - to watch out for weekly closing - Above 17430-17450 zone, next resistance is around 17604-17620 odd levels - focus on Risk Management. We were close to lower end of the Red channel That's what we are seeing...
Levels are mentioned in the chart These are broader levels. Im Using this as a framework to understand my Risk::Reward ratio at a given price and Plan my trade Entry / Target / SL. Do your due diligence. Past performance is not a guarantee for future predictions Take care & trade safely...!!!
Reliance We are looking at Daily chart of Reliance Industries Observations - 2420-2450 has the potential to act as resistance - One may also look at the Red Line of Resistance as potential supply zone - 2180-2220 has the potential to provide support to the stock - The Green Line of Support comes around 2163 Given the chart setup, My view : Rangebound...
SBIN - The stock has seen a nice recovery over the last couple of days rising from the Budget day low of 499.35 to 567.9 today Observations - The zone o 560-580 is very important for SBIN - Black Line of Resistance coincides with Yellow Downtrend Line at around 580 odd levels - 61.8 Fib retracement level is also at 579.80 Making the current zone all more...
ONGC Observations - we are looking at daily candlestick chart pattern - In Jan 2023 stock faced resistance around 151-152 odd levels - mid Feb we see a breakout - currently the stock is holding on above 151 odd levels set up opens up doors for upside up to 166-168 odd levels SL If stock is closing below 150 on daily charts I have gone with a trading...
Nifty If we look at the overall chart structure, prima facie it looks like Nifty has started a downtrend from Dec 2022. Currently, Nifty is trading below 21 day EMA, 63 day EMA and now also below 252 day EMA If Nifty weekly closing is below 17430, then it may signify that Bears are in control of the market as of now. Above 17430 Nifty too Nifty may face...
Consider Buy for a 100-150 point bounce back Keep a SL at 17280 (Spot) or 17380 in Futures
Nifty 17564 If you have been following me, Nifty has respected most of the levels identified with the help of Technical Analysis The yellow zone above 18000 has been drawn long back. You can check my previous post Thereafter, I have been suggesting this case: if Nifty starts trading below the blue line then probability is very strong for Nifty testing...
Nifty As suggested earlier Nifty closing on last Friday suggested battle of Bulls and Bears still in balance. The importance of 17965 was highlighted... Nifty opened gap up exactly at that levels but Bulls are looking nervy as it couldn't sustain above that. The 2 hourly candles gave a close of 17959 and 17964 - Now On Hourly charts Nifty has closed below the...
Nifty - When Nifty was at 18060-18065 odd levels short was recommended. Currently Nifty is down 170 odd points. For Positional play, today's close is very important - Watch out for 17860-17800 odd levels on the downside. If taken down, it could trigger more selling pressure. Bears might start tightening their grip - Between 17860-17965 odd levels and the...
Nifty In my last update, it was suggested that on the down side 17860 is important level to watch out for and that Nifty has a high probability of testing 18030 odd levels in a day or 2. Next day, On a 15 minute candlestick pattern, Nifty made a closing low of 17861 and bounced back immediately and then made a closing high (15 min candle) of 18023 odd...
Nifty Chart set up Since Jan 27, Nifty has traded for 12 days inside the candle body of 27 Jan 2023. Chart view Whether the breakout is real? The real challenge would come above 18000. Whether it is able to sustain above that. On the downside watch out for 17860 odd levels. If that level is taken out, Nifty might fall towards 17600 / 17400 odd levels and...
Stock is at support levels. Buy at CMP and on dips towards 42. Important resistance around 63-68. Once crossed and sustained, the stock may head much higher.... Take care & safe trading...!!! Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - Use this for educational purpose - Any decision...
ICICI Bank Every thing explained in chart itself. Just to reiterate - 868-888 may act as resistance zone - Minor support at 835-840 - If that is taken out then downside possibility opens up once again for sub 800 odd levels Given the setup one may consider to go for a Bear Call Spread strategy for Feb series Sell 880 Call option Buy 920 Call option Profit...
I'm no expert with respect to understanding financials in details so cannot comment on Debt of Ambuja cement and allegations made by certain group. Fundamentally , If we are to look at business potential, India is still a developing country and demand for Cement is going to be there and it will rise... Risk factor : Adani has huge expansion plans for which...
Nifty Chart set up - In the last 2 days Nifty has closed in positive territory, however it has found it difficult to close above 50% of last red candlestick which comes at 17740 odd levels - a lot of resistance between 17740-18140 - on the lower side Nifty has a risk of falling towards 17331 / 17188 / 17096 odd levels Derivative Data - FIIs have gone in...
Nifty Chart analysis Jan F&O series has been completely rangebound between 17761-18265 (just 504 points range or a mere 2.8% range). ___________________________________________________________________________ Although Nifty was very volatile during this time moving up one day and down the next and making it difficult to trade, it worked out smoothly for our...
ONGC - This is a follow up on my previous idea when stock was trading at 140 odd levels Chart set up - The stock seems to have given a fresh breakout on hourly charts from yellow channel channel - 21 hour EMA and 63 hour EMA around 148 / 146 respectively Target potential for the stock 156-158.50 Use the 21 hour or 63 hour EMA as important Support level to...