jbmaan

jbmaan

NIFTY is showing signs of exhaustion and potential reversal. (Note: Ghost feed candles are for illustration only). NIFTY may consolidate around the Pivot level as marked next week. Breakout above the Previous ATH may fail once or twice before the trend reverses or continues for another week or two. Please do NOT try to pick the Top yet.

jbmaan

BANK NIFTY has closed below 20 EMA on hourly chart First time since the post election rally began. First dips are usually bought. So either it will Gap Up and resume the rally or will likely to bounce from 50 EMA. Real Fall is possible below 100 EMA (52360) is likely to see a 1000 points sell off to the marked base.

jbmaan

BANK NIFTY has closed below 20 EMA on hourly chart First time since the post election rally began. First dips are usually bought. So either it will Gap Up and resume the rally or will likely to bounce from 50 EMA. Real Fall is possible below 100 EMA (52360) is likely to see a 1000 points sell off to the marked base.

jbmaan

BANK NIFTY has nearly completed the average 14 to 15% up move. Going by its average retracement of approx 5 to 7%, conservatively it may retrace to 48600 level followed by its average 14% up move to about 55500 levels by budget next year.

jbmaan

NIFTY is back within it's short term ascending channel showing strong Bullish Trend continuation which may take it towards 23900. However the momentum was primarily in HDFC and ICICI today, with other index heavyweights muted. There is selling pressure in IT and it may negate the View if it drags NIFTY below the marked trendline support.

jbmaan

BANK NIFTY Bull Call Spread for Election Result Expiry BUY 4 Lots BANK NIFTY 05 JUN 49000 CE BUY 1 Lot BANK NIFTY 05 JUN 50000 CE SELL 4 Lots BANK NIFTY 05 JUN 49500 CE Margin Required : 84,409 Max Profit : Unlimited Max Loss : 24,675 (29%) Break Even at Expiry : 49,411 Target 1 : 50543 (3%) Projected Profit 13,400 (15%) Target 2 : 50943 (4%) Projected...

jbmaan

A gentle reminder for those worried about price being locked in circuit on Monday, the circuit levels are FAR away . Although with India VIX at 24.60, it may possibly test long term swing levels on either side. 24K loading....?

jbmaan

This chart shows the volatility in BANK NIFTY during the Election Results week in the last General Elections 2019

jbmaan

Nifty 50 has corrected almost 1.8% from ATH with the breakdown of H&S pattern. RSI is showing DIVERGENCE at 15 min TF. Likely reversal levels as marked. Important base is placed at 22500-600 levels.

jbmaan

NIFTY 50 is once again testing key support levels and the 2024 support trend line If it sustains below 21837, it will be sign of reversal Although it is almost certain to give a bounce from these levels Unless...it's the end of the bull run, in which case there are a lot of gaps pending at lower levels

jbmaan

BANK NIFTY is trading in a 2000 point channel for last few weeks. Looks like it will end up at either of the extremes of the channel on General Electons result day! My money is on 51K+ Let me know what you think in the comments section below.

jbmaan

Except the two corrections as marked, NIFTY 50 is on a steady climb towards 23K. Seems like we'll get there before the first vote is cast in the upcoming elections.

jbmaan

NIFTY is showing strong bullish RSI divergence and EMA crossover at 1 hour timeframe. If it opens/ sustains above 22222, first target will be 22444 and second target 22527. View will be negated with any bearish closing below 20 EMA/ 22200, in which case it may slide towards 21716.

jbmaan Updated 

MIDCAP NIFTY has formed an inverted Head and Shoulder Pattern at the crucial 10200 Support Zone and is poised for a breakout of 10500 Zone on Monday. A gap-up opening followed by short covering may see a sharp recovery towards 10653 and if it sustains above the Pivot of 10721 may trigger a rally to regain 11000 levels next week itself.

jbmaan Updated 

BANKNIFTY has completed the Elliot Triple combo Wave following the January Selloff. We might see an ABC correction wave coming in next two weeks. Important levels as marked.

jbmaan Updated 

NIFTY has completed Elliot D Wave of an Ending Diagonal pattern and broken the key support of 22058 and breached the long term crucial lower channel Trendline support. Every bounce will be an opportunity to exit Longs and initiate fresh shorts. Immediate support is placed at 21876. Sharp market declines often disregard key support levels like today. Next crucial...

jbmaan Updated 

BANK NIFTY if it sustains above 47200, keep trailing SL till the first level 47777 and onwards to 48161 (PDH). Sharp short covering may trigger above 47500 and 48000 If sustains below 47200, may slide to 46884 (PDL) and 46400. Positional longs may unwind sharply below 46500 and may slide to 46000.

jbmaan Updated 

R 22526 S1 22223 S2 22058 S3 21876 Bearish RSI Divergence on 1 hour TF indicates weakness If NIFTY sustains below 22223 then trail SL till the first level 22058 where the long-term Trend line may support. If this support breaks, trail SL till 21876 and it may slide till 21500 levels. Upside is limited with PDH resistance placed at 22531.