thelastbull

thelastbull

RBL Bank forming a volatility contraction pattern on the Hourly chart and aboev 196 can move 10%+, have marked the required structures and potential target areas.

thelastbull Updated 

Nifty Bank has formed a consolidation range and the price is now trading at support. Wait for a breakout/breakdown and then retest to enter the trade in a favourable direction. Which side do you think it's going to breakout - UP or DOWN? Until that happens just expect price to remain volatile and keep bouncing between the support and the resistance marked.

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ICICI B is in a bear trend channel and has recently broken a local support, can go on to touch the demand line of the bear channel now, also a longger term support below, where we can expect a reversal.

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Wyckoff Accumulation structure being formed in NMDC hourly chart, looking good to hold for a few days as a swing trade or buy at retest as accumulation is behind us.

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Potential Reversal Zone(PRZ) marked with black lines, SL with red and potential target with green lines

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Self-explanatory. Downward trend channel, late in the tube, can look for a reversal play here after some more consolidation, or play from one edge of the channel to another.

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Diagram is self explanatory. Support and Resistance lines marked, Back Up to the Edge of the Creek setup(Bob Evans), however, a saucer/curve support line has been broken, can form a large cup and handle here before resuming the upward journey once again.

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Breakdown of bullish trend channel happen with a wide range bar, however there's still a long term support and a demand zone beneath and we're merely retesting it. So a proper bullish structure will take some time to develop here. As of now, Bank Nifty is on o trade zone, long term investors can accumulate.

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Bank Nifty after correcting is now at a demand zone, have marked further possible support levels. Heavy weight stocks like HDFC B, Kotak, ICICI need to improve their structures for Bank Nifty to take off again, SBIN remains in good structure

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Airtel looking bullish from here, is trying to break through the supply zone. Good wide range bar with strong volumes today, bouncing from the trendline. Two possible outcomes highlighted.

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Indigo after a stge breakout formed an apex consolidation pattern. broke out of it, retestsed the stage breakout level, and is looking bullish in the medium term, a potential swing trade opportunity with SL just inside the stage breakout region.

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Ideal swing trade entry setup here in Kotak Bank. Price recently broken out of a major stage consolidation region, and has now retested the breakout level. Now it is adhering to a bullish trend channel and is at the demand line presently, a safe entry with minimal risk can be initiated here.

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Can be accumulated here and in dips as a longg term bet. Nifty Media and other media stocks also breaking out from their long term structures.

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ASHOKLEY 2H chart. Breakout above trading range, now retesting and foming a triangle consolidation. Should see a good breakout soon.

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LT looking weak in the short term with the formation of Bearish Bat, appropriate levels mentioned

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Potential Reversal Zone, SL, and targets are written, will have to look for the reversal on the lower timeframe i.e. 5/15min

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Stop Loss, Potential Reversal Zone, and possible targets for both aggressive as well as conservative traders are defined. However, if the price breaks the PRZ and sustains above it, then expect an even stronger rally in LT.

thelastbull Updated 

Some Price action and Volume Spread Analysis concepts were used. Stoploss and multiple targets levels are mentioned. Nifty 50 should remain in a Higher High Higher Low trending structure on an Hourly timeframe and possibly above 50 SMA for higher probability. Price rejection/hammer candle at support makes this trade a higher odd setup.