virralthakkaar

virralthakkaar

Nifty Future Daily Chart (Overall long-term) I've 2 trendlines (blue). The first one is cut-off and the second one is the trendline that we are following now. Daily candles are taking support here and we can see a very strong upmove if anything funny doesn't happen. The black dots are Parabolic SARS. Parabolic SARS is an indicator which if down signals buying...

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Clearly an uptrend and a gap-up opening will pull RSI above 50 to confirm a bullish trend. I've been saying that it won't be surprising to see Nifty hit new highs. Please note that this is not a trading level. It's already high to buy and risky to sell so No Trade today

virralthakkaar

NIFTY 50 Daily charts show a clear uptrend. I would like to think that the correction is over now, or is it? RSI supports me here. If you look at the RSI, you'll see that the downtrend seems to have stopped here, just above the 50 levels and a slight, very slight up-move has been made as well. Hourly charts look messy. The trendline has been respected but there...

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ACC Limited Trend on the daily chart is uptrend with a support at the 1800 levels. RSI is above 50 too which means that it is in the bullish region and I am unable to find any sure shot bearish signal here. Hourly charts on the other hand doesn't look good in the first go. The black lines are the uptrend range which has been broken at close today. But we can...

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ITC Futures I am unable to understand the reason why is ITC Futures underperforming because there are so many bullish signs in the charts. 1. The candles in the daily charts have made a patter called triple bottom which means that ITC Futures are supposed to fly but there is a resistance at 212 levels.Next resistance can be seen at 216.10 but the pattern means...

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Can buy for short-term as I see reversal in the daily charts. CMP 2596 Stop Below 2440 Target 2700 / 2800 / 3000

virralthakkaar

Not sure but did Nifty Futures make a double bottom in 15m charts? I think we can enter with a stop loss of below 14900 for targets of 15100 / 15150 / 15200 CMP 15008

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Nifty Futures Now, there is a slight conflit in ideas here. If you check the daily chart of Nifty futures, the candles have closed above the mid-average of the trendline but if you see the charts of Nifty spot, the candles have not been able to sustain above the mid-average. Now, another thing which is making me skeptical is the trend on 15m charts. You can see...

virralthakkaar

ITC futures have turned 203 levels into a very strong support zone. We have heard about double and triple bottom which are strong bullish patterns but look at this, the candles taking support for 4 times and this makes me wonder how much strength has ITC Futures gathered now? Can buy (lot is 3700 shares so please calculate risk) at CMP which is around 209.75 with...

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Trade idea for the next week. 16000ce | 10Mar2021 | CMP around 7 | OI 594975 Should open at around 3 or 4 Rs today. I think buy and hold because high price range is 147+.

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Bank Nifty Futures RSI on daily charts has just bounced from 50. Moving average are just crossing over and there was a recent Doji which could be a start of a new uptrend. Daily charts means that this study is for a positional or short-term trade with a timeframe of about a week. Intraday charts or 15m charts look a little doubtful. I am looking at Heikin Ashi...

virralthakkaar

Nifty Futures Intraday, 15m charts are quite surely overbought. Check RSI as it is above 80 which means a quick correction may be on its way. No, this doesn't mean that you can go short unless you are just too good a trader. What this means is that we need to wait for the right levels to re-enter in long positions. Daily charts, as expected don't speak the same...

virralthakkaar

Can buy Nifty 15000ce @ 99 with a stop of below 82 for targets of 150+

virralthakkaar

First things first, Nifty is on an uptrend on the daily charts. As discussed yesterday, Nifty took support on the trend line and bounced back from there. This was a good sign but what needs attention is that the candles have not crossed the decider (middle line) on the upside. We can let our guards down a little once this is done but till then, we have to be...

virralthakkaar

Good Morning Nifty (spot) gives us a gap up opening at 14865 levels as expected. My first target was 14900 in futures which can be considered achieved. If the world markets support, we can see Nifty making new highs again in March itself. New support has been made at 14635 levels so there should be nothing to worry about till Nifty breaks and sticks around...

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Nifty Spot There was a Hammer (bullish pattern) in the 15m chart on 26/02/21 at 15:15 hrs. 14635 levels were from where Nifty had to bounce back but it slipped below it and closed at 14529. Nifty had made a high of 14498 on 11/01/21 which can be considered as a strong support now. RSI has slipped well below 50. It also shows a bounceback from the trendline levels...

virralthakkaar

Nifty Spot The most solid support is at 14630 levels and I am almost sure that we won't be seeing that range anytime soon. 14824 levels are the buying range and I wouldn't advise on any stop loss above 14600. Go long and go for long would be my strategy. This dip is a buying opportunity so the strategy would be buy on dips.

virralthakkaar

Spot levels Nifty has bounced back as I expected yesterday. There is no reason that the bull rally should not continue today specially because it is monthly expiry. Nifty has clearly bounced back on RSI and has crossed 50 levels which is considered to be a buying zone. Intraday (15 m) charts have made 2 rough bullish patterns which are rounded bottom and / or...