msk_analysis

msk_analysis

In continuation with an earlier idea on this Nifty reversed from 1460 lvls. After making ATH (all time high) on 16th of Feb, it faced some profit booking for the next 4 days and came down by 810 pts from ATH on 25 Feb, again it tried for a breakout for ATH but failed short by 250pts and 26 Feb some really severe selling pressure ...closing was approx 970...

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Its been quite a volatile last few days - too may GAP UP / GAP DOWN , decisive bars but still no clarity on direction. Let us look at global markets to understand this in a better way Dollar Index on important levels - can breakout or breakdown - chances of breakout quite high US treasure bonds rising again - Though personally, I feel last time it was...

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BNF looks like trying to form a flag pattern. will it break out or break-down from there or will it consolidate - I don't know But - if its a flag formation higher time frame - inside a bar in the daily time frame, on the lower side in a channel . one thing can be safely concluded. play for long with channel break as a stop loss with US DOW futures showed...

msk_analysis

There are multiple harmonic patterns in Gold, bullish ones SL and Target mentioned in the chart For ones who trade in gold may be a good opportunity For Traders who trade in the Indian index Nifty / Bank Nifty, they may take a cue from this as Gold and the Indian index are usually inversely proportional.i.e., if gold increases nifty decreases and vice...

msk_analysis

Very rarely you will see back to back head and shoulder pattern Dollar index in daily time frame started with an inverted head and shoulder - gave a false breakout and then formed a head & shoulder again. Will this lead to massive short covering in Indian index ? Time will tell :) but this is just for pattern lovers Happy Trading MSK

msk_analysis Updated 

When the global markets are muted / weak .. doesn't look like BNF going to fire on upside... chances are very high that it may correct for 700-900 pts P.S In a bull market, PE gets swallowed up very very fast, so try to buy it cheap rather than taking a buy above x approach or when you are unsure keep your position size small Happy Trading MSK

msk_analysis Updated 

BNF would be testing support zone risky traders may want to encash this opportunity SL - if it sustains below buy zone Happy Trading MSK

msk_analysis

The BNF on the budget day gave such a massive green candle, now big question is - will there be a follow-up or consolidation or reversal When BNF is in full swing applying any rational thinking becomes meaningless, the script has texture, nature of its own which is quite dynamic . When it picks momentum it just doesn't listen to itself just keep accelerating...

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Monthly Expiry Pre-Budget volatility 4 days huge red bars in the last 4 trading sessions, BNF lost around 2700 pts from high Makes it interesting & high risk My two cents for friends who asked me about the trade plan The benefit of having a trading plan is - you know beforehand what you are going to do if the trade triggers. That takes some amount of emotions...

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BankNifty has been forming inside bars in the daily time frame from the last couple of trading sessions inside bars near a resistance zone are signs for reversals, interestingly BNF is not in any resistance zone as such. so what may be the possible reason for inside bars ?- may be less volume due to holiday season, may be a trade-setup by option writers to earn...

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ONGC looks strong after a period of small volume candles. The theory behind such moves is - There is a period of accumulation happening over a time and then a sudden surge in volume to take price up. The price rise needs to follow through to keep the trend going. If you look at chart, there are big green candles and small red candles after the surge. This makes...

msk_analysis Updated 

please refer the earlier idea ONGC has generated some nice momentum and quite possible that rally may continue My setup is - would book 50% at present levels and lets the 50% ride with present levels as SL details of resistance on charts Happy Trading MSK

msk_analysis

Banknifty got stuck in a consolidation zone . the way it kept recovering from days low and getting stuck in upper resistance makes a break away GAP high probability on Monday A breakaway gap occurs when the price gaps above a support or resistance area, like those established during a trading range. When the price breaks out of a well-established trading range...

msk_analysis

Few people asked me when will Reliance start going up and participate in this rally :) Frankly, hard to guess as there is some really brutal selling happening. Retracement levels for reliance - 1887 or 1865 with SL 1835 This is a hypothesis - that may or may not work, the basis of hypothesis on charts Happy Trading MSK

msk_analysis Updated 

Nifty presently is testing a stiff resistance zone. This resistance zone has acted as supply zone for the last 5 times and this is the sixth time it is testing it. The first time it entered this zone on Oct 2007, kept consolidating and finally failed on Jan 2008 Second time in Jan 2018 - touched and got rejected Third time tried again on late Aug 2018 and...

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Details on the chart Take Entry as near to SL as possible for better Risk Reward or safe traders can take entry as marked on charts If SL breaches, exit as the hypothesis will stand invalidated in that scenario Happy Trading

msk_analysis

Nifty has retraced quite a lot after falling due to pandemic . It has very high chances to correct and consolidate as the economy and the stock market can't show such divergence for long question is - when will it start correcting and what happens next possible scenarios - FII has been buying like anything last week, US markets all-time high, so it...

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Details on chart