karan_bagri

karan_bagri

Base is building around 17000 - 16900 zone price tested 16900 and below in last 2 trading sessions and recoverd back to close above 17100, from here on we can expect sideways or bullish momentum. In case Nifty closes below 16950 then we can see further decline in index till 16600. As of now support is at 17000-16900 and resistance is at 17165 & 17417.

karan_bagri Updated 

As per price action Banknifty can now go in retracement period according to Fib Retracement. However the pullback won't be long enough as we can see that 37100 is a crucial support level for the index. Speaking on the retracment levels of Fib we can expect price to take support anywhere between 37900 - 37300. While on the upside recent swing high can be a resistance level.

karan_bagri

Nifty dipped below 0.50 fib level and closed above it. 17600 - 17500 is a possible zone where current bearish move could end and we can see reversal, if price doesn't crosses below 17400 then we can expect a reversal which may take Nifty to 18300 and above. Setup will be invalidated if prices crosses below 17400. Support currently is now at 17600 & 17400 while on...

karan_bagri Updated 

Orient Electric is trading near 100 DEMA and potential support zone of 360-365. Overall trend in stock is bullish and a bounce to previous swing high might be possible. As per trade setup we can initiate buy at 360-365 with a Stoploss at 346 and target 394.

karan_bagri Updated 

Price zone of 1400 is working as a crucial resistance level which has been difficult to cross from the last 7 weeks. If the resistance of 1400 doesn't break we can expect Havells to test 1300 - 1255 - 1200 levels in upcoming sessions. Setup will be invalidated if price breaks above 1410.

karan_bagri Updated 

Nifty ended the day with 1% decline after a strong rally. Today's decline wiped out and covered the last 4 days gains & candles forming a bearish engulf candlestick pattern. As per fibb retracement we can see Nifty taking support at multiple levels, which are ₹17991, ₹17770, ₹17600 and final support of fibb level 0.618 is at ₹17417. While looking at the upside,...

karan_bagri Updated 

Nifty Broke out from descending trend channel signaling bullish momentum ahead, now untill Nifty remains above this channel then it can go till 17600 which can be a resistance while 17200 is a possible support zone.

karan_bagri Updated 

Banknifty is trading in the resistance zone of 35450-35550 breakout above this can take Banknifty to 36500 - 37000, while on the downside 35250 - 35000 can be a support levels.

karan_bagri Updated 

HDFCBANK trading in Pennant Pattern signaling sideways action for 10-01-21. Avoid trading HDFCBANK until it breaks the Pattern. If price breaks above the pattern then we can see 1575 and 1600 levels, break below of the pattern can take price to 1500.

karan_bagri Updated 

HINDUNILVR is trading in Ascending Triangle Pattern giving bullish bias for upcoming days. Pattern will be completed once the price crosses 2420. Break above the resistance line(2420) is our entry trigger with an SL below 2395. The Risk Reward in this trade is high as we are targeting 2500. Setup will be invalidated if the pattern break below the supporting trendline.

karan_bagri

IRCTC broke out from Pennant pattern after consolidating for 55 bars(daily). Breakout has good volumes and price is setting up for a target for 990 and above with a stoploss at 848. We can buy dips till 873, setup will be invalidated if prices crosess below stoploss level.

karan_bagri

Banknifty is trading in Falling Channel on Intraday basis and CMP is quoting near upper band of the channel which could be a opportunity to short the index at CMP, however opening price will effect the trade plan. If Banknifty opens up inside the Channel then we can look to short with a Stoploss at 37920 and Targeting 37450 & 37200 levels.

karan_bagri

Consecutive 7 days gain helped Banknifty breaking 2 resistance 35600 & 37100. Looking at the chart we can now see some consolidation in Index at current levels. Support for upcoming days is 37100 and Resistance now stands at 38200 & 39000.

karan_bagri

Nifty might retrace or consolidate in these Fibb Levels. Support & Resistance can be seen on charts, if Nifty breaks the recent high than we can expect 18200 while according to price action support is at 17600.

karan_bagri

Dabur has been trading in Linear Regression since March 2020. Recently it has dipped below 2nd Std Deviation and has bounced back inside the Channel signaling buying opportunity with an SL at 550 and target of 620 and above.

karan_bagri

Banknifty is still underperforming Nifty. According to the patterns visible on chart, from here we can see Banknifty take resistance at 35500 - 35600 area while on the downside price is respecting a rising trendline which is forming a Ascending Triangle pattern on chart. Further price action is dependent on the Breakout of Ascending Triangle pattern which will...

karan_bagri

Nifty is trading in falling channel and cuurently price is quoting near resistance line of the channel indicating decline in index till 17000-16900, However if Nifty manages to break the Channel then it can face resistance near 17600 price zone. Red box zone can provide Nifty a support level if that breaks then it can go till 16400.

karan_bagri

Case is little different in Banknifty as it has underperformed Nifty since the decline started and reached it's 200DEMA now and today saw a price rejection there forming a Hammer Candle Pattern. Talking about support as of now this 200DEMA line could work as support, if that gets penetrated then next support is at 34000 while resistance is at 37000.