karan_bagri

karan_bagri

Poor macros, #Gas prices continue to rise and the risk of rationing and high prices continue to haunt the continent. European gas contract are near to click a fresh all time high. On technical terms we can see multiple descending trendlines pushing the pair down . The fall below parity and quick 3 day short covering pushed #EURUSD to 1.02700. Current trading range...

karan_bagri

Nifty is currently taking support from previous week high which is near 16400 and a break below this can take nifty to 16200 which is the last support for the index post this we can see nifty at 15900-15800. On the upside resistance is at 16970 & 17200 which are also near Fibonacci levels of 0.5% & 0.618%

karan_bagri

JSWSTEEL is trading in Descending Channel from the last 1 year, however we did see a breakout above the channel on 17th Marth 2022. Post that price rallied up till previous resistance of 770 and faced selling pressure which pushed price again inside the descending channel. Currently the stock is trading near channels lower level with immediate support at 520 and...

karan_bagri

Banknifty is trading between a range of 37000-35750. In today's session we saw index dropping till 35750 and then reversed back to close above 36000. There are multiple Camerilla Support levels which will hold banknifty from falling, 35750 is one of them that's why index saw reversal. 37000 has been proven as a psychological resistance level, and a gap which was...

karan_bagri

KOTAKBANK is trading near support of descending Triangle Pattern. Stock is respecting the triangle formation from the last 4 months. Further action will depend upon the outcome of pattern. On Descending Triangle Pattern and it's structure :- A descending triangle is a bearish chart pattern used in technical analysis that is created by drawing one trend line that...

karan_bagri

Banknifty gave breakout from falling channel with a gap up opening on 4th April, However that move didn't sustained well and post that the index saw consolidation at the GAP and today took support from previous month's closing range. Now moving ahead we can see bullish momentum in upcoming days with resistance at 39000-39500, immediate support stands at 37200 and...

karan_bagri

As expected Nifty took resistance from the zone plotted on chart, from here on Nifty might get support at 17620 zone if that breaks then next support is at 17200. Talking on upper levels the range of 18000-18130 & 18350 are next resistance levels respectively.

karan_bagri

From the last 5 months nifty was trading with a bearish biased view, however things are looking a bit changed this month since we saw a good bullish momentum in the last 2 weeks of March. As of now April is up for Moderately Bullish view, Support & Resistance levels are plotted on chart.

karan_bagri

Banknifty has been trading in Falling Channel from the last 109 bars on Daily time frame,in the last few days we saw bullish momentum in price and closing on friday gave more strength to bulls. Further view according to price action is, if the index manages to give breakout above this falling channel then we can see Banknifty to touch 39000-41000. On the downside...

karan_bagri Updated 

Nifty has reversed from the lows with good momentum and broke out the Descending Channel. After the breakout the momentum is still Bullish, however index made a Gap of 200 points between 16-17Mar, possibilities are that this gap will get filled in upcoming sessions. Now talking on Support the 1st zone which can give Nifty a cushion is 16800 while 2nd support will...

karan_bagri

Banknifty reversed from day highs today and saw pressure at the zone where we marked as a potential resistance and close well below that levels. Now talking about the future we can see Banknifty test 34000 and it might break it as well. If 34000 breaks than we can see prices attempts to touch 32000 level where index see some support. While on upside resistance is...

karan_bagri

After a long streak of bearishness Banknifty recovered from lows in the past 2 sessions. Currently the index is standing at a crucial resistance level, a break above that level can take BankNifty to 2nd resistance zone plotted on chart. Now talking on the downside price can see support at 32,000 levels and the next support is at 31,100 zone if price below 32k then...

karan_bagri

On Intraday terms Nifty is Moderately Bullish for 02/03/2022. As there are multiple support levels for nifty to hold the downside, 16720 - 16660 will work as an area of support for the day while on the upside price might see resistance at 16920-16950 zone if that gets clear out than possibility of seeing 17050 is high on intraday basis. Also there is a possibility...

karan_bagri

Nifty 50 is seeing a deep correction since a while. On fundamental terms the action is happening around Russia-Ukraine news flows, now talking on the technical terms the Index is trading in Regression Trend Channe l. Currently price is trading around lower levels of the channel from here on key levels to watch out is resistance at 16850 if that gets clear then...

karan_bagri

Axis reversed from the S1(729.40) level and closed above the Bullish Reversal zone indicating upcoming momentum towards upside in stock till Bearish Reversal(802) & R1(816) price marks. There are multiple support levels for the price, 1st at Bullish Reversal (744), 2nd at S1 (729.40) and last support stands at 714.50 which is also a Bearish breakout zone if stock...

karan_bagri

As per current market sentiments and global news we can see bearish momentum in Nifty 50 in upcoming days. Technically also the Index is forming descending triangle pattern taking support at 16900 -800 zone and once this support breaks than we can see Nifty to 17600 levels. Now talking about the levels plotted on chart we can plan out trade based on these area,...

karan_bagri

Nifty is forming cup and handle formation on 15min signaling bullish momentum if it breaks above the handle. RSI is also testing 50 level, break above the handle and bounce of RSI from 50 level can take Nifty to 17410 & 17500 levels. View neglected if crosses below the handle of the pattern.

karan_bagri

We are expecting the price to reach 1880 which can be a potential resistance level for stock, while on the downside support is at 1700. We can build a trade at CMP with a stoploss at 1700 and 1880 as target.