Nifty future and banknifty future analysis and intraday plan in kannada. This video is for information/education purpose only. you are 100% responsible for any actions you take by reading/viewing this post. please consult your financial advisor before taking any action. ----Vinaykumar hiremath, CMT
Basic common sense analysis given...based on technicals
# We make only Profit # Achieve All level #tcs #BANKNIFTY #NIFTY #HDFCBANK #RELIANCE
Summary of behaviour of nifty & banknifty & other stocks after US election voting count as on 4th november 2020.
There was a clear Bull Flag formation on the 1 minute chart . The market helped me as the market was also trending higher.
From few days TCS was falling continuously . It need some pullback before falling any direction . That was the simple idea behind the trade . It worked exactly as the market itself was trying to rebound.
Continuation of profit taking !! Lot of buying has been happened in the IT market in recent times . Just a sign of weakness in the market and profit taking start's . That's the current scenario of most of the right now !!
TCS has got all the good news along with nifty for going uptrend , just a good entry and good management of a trade !!
As this is the continuation of previous video , in this video you could watch how I added to my shorts in this video and took a bit of partial.
As everybody knows there's a lot of good news going on in TCS , that's the reason everybody has bought TCS even at higher valuation . But , at this stage even the market need's a bit of rest and at the same time the TCS one of the big bull of Indian Stock market need's a rest . That's the reason the market and TCS stock's are coming down.
A gapped up opening in the morning , similarly a positive news in the stock . Just waited for a perfect entry . Usually the stock in news are very volatile , so they must be traded very cautiously .
Most of you might have read that you must sell a stock when everybody is buying . This is just a pure example of that . A time when everybody want's to buy a stock because of share buy back news . I was selling with full confidence and see the result . It's not like trading against the trend but it's a matter of time when you gain such experience . Thank you !!!
How to identify rejection at particular levels ?? Look at my trade , where I have identified multiple levels of rejection which gave me a decent profit . Though nifty is rising higher it doesn't look's like it was going to sustain(Nifty was also trading near it's resistance level) . That was the another reason for shorting . I covered my partials near the support...
The stock was consolidating near the day's high . At the same time it formed a beautiful rounding bottom pattern which was my second perfect green trade of the day.
A bull flag formation and a good entry for small profit .
What can happen if you start identifying the trend of stock . It's a pure example of Gap closing . Though it opened down there were clear signs of gap closing . Watch out for the entry point and exit after hitting the target area.
A good technical formation to short TCS with market.