Important levels for nifty are marked on the charts on a 15min close basis.
15630-15632 will be a very important support for nifty on a 15min/1hr close basis. this level is 61.8% retracement os the previous upside rally and it is a good price action support.
On the upside 15773 on a 15min close basis will be a important resistance. SLs of short sellers...
banknifty looks bullish above 33841. 33800 call writters go for cover as well as 35000 writers. Likely to propel markets higher. OI data show high bearishness which might be a trap. 33841 is a good resistance as per price action and a 15min close above that will result in a change in downside structure. observe price action. take only next month expiry
15814-15825 is a good resistance zone on 15min close basis. If this level is respected tomorrow we may see further selling.
all the important global markets are currently trading flat and we have to observe tomorrows price action for trades. The important levels are marked on the chart. 15730 is a level of importance if market opens near to today's...
Dlf is at a good location currently respecting the down trendline.
5min close above 305 will be a trigger to go long or I will wait for 300 levels to be tested and form a w pattern in that area to go long.(200ema of 15mins)
Usually after a big rally the following day will be sideways day. st 1hr range will be important tomorrow. all the European and American markets are trading in extreme green which indicates a gap up open in Nifty. 15800-15826 will be a resistance level for nifty tomorrow.
tata chemicals is sitting at a good value area. retesting the trendline and made a double bottom breakout which almost confirms that the trend is reversing. If it opens gap down look for a good dip to enter for positional trade. Observe the price action and trade as per your risk to reward
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...