Tvs motor clearly taken support at the lower end of the rectangle.
accumulate TVS on the next dip with SL below the rectangle
watch the upper end of the range and if it breaks TVs can give ballastic move
IGL took support at the upward channel faced first pullback and currently halting at 38%retracement of the upmove
it is forming a good head and shoulders pattern in 5min chart
but buying volume is greater then selling volume on H&S formation.
5min close above 541.75 can trigger long and if 544 is also breached then I will hold for 2 to 3 days.
Irctc is getting ready for a ballistic move upside.
flag and pole breakout in 1 hr chart and again forming flag and pole in smaller time frame.
stock currently at a good value area. if it moves above 2115 after a gap up open I will add for positional trade with SL at 2071
Stock has the potential to go till 2300 in the short term.
2182 will be the target...
35000 calls are written heavily which is at the money; hence if 35000 is crossed in the morning it will quickly reach 35100 and if that level is also breached 35350 is on the cards. 35000 is also the 61.8% retracement of last fall.
on the downside if 34700 and 34560 are very important levels.
if 34561 is crossed on a 15min close basis then 34400...
15750-15835 slightly bullish to sideways
15720-15660 bearish to sideways
15835 and above cautiously bullish.
15660 and below bearish.
watch the channel pattern in NIFTY
Nifty faced panic selling today due to scam-related rumours with Adani group but it was bought into during rest of the day.
nifty closed at fresh all time high again.
I am still...
Banknifty price action shows it is sideways between 25400 and 34650.
Until any of these levels are breached we cannot take any aggressive positions to any side (not intraday)
right now banknifty is halting at good levels for tomorrow if it breaks 35000 in the 1st 1hr there might be continued selling which can take banknifty to 34650 levels. (safe...
Looks like the breakout is a good one.
Planiing to enter at the rest or when the high of the small red candle is taken out.
Some scam related rumours are happening with adani stocks if heavy profit booking is happening right at the open itself I will be avoiding this
Downtrendline break in daily chart.
When it hit the down trendline there was series of red candles in 1hr chart but the volume was diminishing on successive candles.
11th june candle opens with gap up and closed by breaking downtrendline(shows good buying momentum).
on 1hr chart it is retest after the trendline breakout and on 15min chart it has...
The stock is currently at a good Support
on daily chart its a triangle consolidation after a good upmove
forming HIgher lows from the last major low onwards.
From 28th may low onwards it formed HL HH format.
It didn't break the downtrendline but currently, it broke the 200ema of 1hr with power and retesting the same.
Entry can be made with very...
1hr chart of jindalstel.
Likely a retest after breakout. If we get good candlestick at the trendline retest. It will be a good risk to reward trade
Waiting for the price action at the retest.
Banknifty is approaching the trendline support
It also has 200ema of 15min and yesterday close price.
The trendline looks like a good confluence of support.
enter only at a candlestick reversal pattern on 15min.
Important levels for me are marked on the chart.
good short is possible below 34430 with target 34137-34000
Looks like it will be volatile between 34430 and 35000.
Tomorrow it is likely to be rangebound
This is my personal view
Nifty faced heavy profit booking today in the institutional zone led by banks. Yesterday more calls were written than puts which showed sign that movement on the upside was limited.
Looking at the American and European markets all of the markets are currently trading flat same with SGX nifty also.
After such big movement days market usually likes to...