nerdywasabi

nerdywasabi Updated 

NSE:IGL is forming descending triangle and it would be worth a long shot for Dec series. Targets are marked on the chart SL for longs can be - 205. Would be best to play in cash or play with long synthetic split option strategy ( Sell put at strike A ( close to SL level ) and buy call for strike b ( potential target level or ATM call option ) Let's see which...

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nerdywasabi Updated 

NSE:CNXAUTO - Overview on all timeframes - MTF, WTF, DTF DTF its trading within ascending triangle. Expect price to consolidate WTF its taking long term support and might make double bottom as long s 12675 is held on weekly closing basis. Also showing signs of flag pattern formation but that will be only confirmed if 12675 is held. If thats broken, bullish...

nerdywasabi

1) TVC:DJI is taking support of 20 EMA on a 3M timeframe. Still Dec 2022 has 10 more trading sessions and I would eagerly wait to see where the monthly candle closes 2) RSI sort of made a double bottom and has started rising approaching the SMA. If it crosses the trend lines marked, expect a sharp bounce or sort of a breakout in Dow Jones. 3) Also...

nerdywasabi

NSE:INDIAVIX - Weekly Chart For the time being, it appears that 12 is a good support level and 16 is a good resistance level. Please keep in mind that #IndiaVix is a simple concept that describes how quickly and unpredictably the Nifty 50 index is expected to change over the next 30 days. Consider volatility to be negligible/dead below 15. Above 23, consider...

nerdywasabi

NSE:NIFTY is forming or has formed H&S bottom on weekly chart. Price is looking good to stay long in this market and on the upside. Intermittent whips may come on the downside for intraday moves till 18128 but only if the following levels are breached - 18583, 18385 & 18297. Positionally the trend is up itself. If the green weekly trend line is breached at...

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NSE:UPL showing resistance breakdown and also moving within triangle pattern. Short term reversal targets are listed on the chart. SL for shorts will be 785 Let's see which way the story unfolds. Happy Trading! Disclaimer - - The view expressed here are my personal views. I am publishing this for my own records and what I see on charts. - If you're referring...

nerdywasabi Updated 

NSE:MINDTREE has given breakout of cup and handle pattern along with gaining 200 EMA on DTF. I would wait for a retest candle before initiating long trade. SL would be 3274 for possible targets marked on the chart Let's see which way the story unfolds. Happy Trading! Disclaimer - - The view expressed here are my personal views. I am publishing this for my...

nerdywasabi

NSE:STLTECH looks good for a swing trade. Price has moved out of triangle and will expand on the upside. Targets marked on the chart. I have entered this with SL of 150 for positional move. Let's see which way the story unfolds. Happy Trading! Disclaimer - - The view expressed here are my personal views. I am publishing this for my own records and what I see...

nerdywasabi Updated 

NSE:NIFTY is still a sell on rise candidate on DTF & WTF basis. Overall view still bearish as the index is still trading below 20/50/100 EMA Any upside will be just a pullback retracement rally,. Potential bearish pole and flag patten in the making and such pattens do attract 38.2%, 50% and 61.8% levels which are depicted using Fibo levels. A 72.8%...

nerdywasabi

NSE:COFORGE has managed to close above all EMAs 20/50/100/200 along with a spurt in volume . After making double bottom in Sept 2022, it seems the trend is changing with an up-move seen in IT index. Considering the momentum in NSE:CNXIT , this could move towards 4800, 5100 and 5900 levels. Also something interesting is that relative strength is almost at 0 as...

nerdywasabi

Straight Double Top Bearish Pattern on Capital Goods Index - Note this is on weekly timeframe SL for shorts mentioned All targets on the chart Expect downside correction of 10 to 20 % over next 5 to 8 weeks The index consists of 25 stocks - 8 FnO Stocks & 17 Cash Stocks. Constituents are - ABB India Ltd AIA Engineering Ltd Bharat Electronics Ltd ...

nerdywasabi

Even though the chart is self explanatory, I have tried to compare NSE:NIFTY with NSE:INDIAVIX Blue line is NSE:INDIAVIX Brown line is NSE:NIFTY Dashed red line is trendline support and NF breaking above that Light yellow line is support line for NSE:INDIAVIX 2 possibilities exist - 1) India Vix continues to trade below or near the support line, and...

nerdywasabi

#CNXENERGY still a weak sector on DTF basis price action. It seems like a possible H&S Pattern in the making with neckline as the middle of parallel channel. Also since the price is below the MA's and in a down channel my overall view remainsBearish for this sector. Shorts recommended Energy, Oil & Gas, Power Stocks clearly Avoid Long Some stocks for the sector...

nerdywasabi Updated 

#VARROC Possible swing trade opportunity CMP - 436 Stop Loss 1 - 420 Stop Loss 2 - 405 Strict Stop Loss 3 - 375 Target 1 – 470 ( Next 5 to 7 days ) Target 2 – 524 ( 2 to 3 weeks ) Target 3 - 550 ( 3 to 5 weeks ) Reasons for my conviction - 1) No left side immediate resistance except a small gap which may get filled with the momentum in the stock 2) Moving...

nerdywasabi Updated 

#RKFORGE CMP 618 Stop Loss below 560 Multiple resistances broken in the range of 610 to 615 Breaking out of 4 month long rectangle consolidation/formation Nice volume spurt Positive breakout May fire for an upside of 22% considering the rectangle mouth length Disclaimer - - The view expressed here are my personal views. I am publishing this for my own...

nerdywasabi Updated 

#ANDHRSUGAR Perfect candidate to ride the Soft Commodity and Sugar Rally and hence my conviction here. Numbers listed are weekly considerations Entered at - 442 Stop Loss - 415 Target 1 – 486 ( Next coming days ) Target 2 – 592 ( 4 to 5 months ) Target 3 - 672 ( 8 to 10 months ) Some of you might not agree with the gap between SL and entry price but I am okay...

nerdywasabi Updated 

Breakout from Cup and Handle will take the price higher in the predicted trajectory. Simple Price Action Analysis :-) Stop loss of 150 Expected 1st short term target - 200, followed by 215/217 levels that can be seen in next 1 to 1.5 months Disclaimer - - The view expressed here are my personal views. I am publishing this for my own records and what I see...