Fibonacci 61.8% retracement is the most important Fibonacci level in the markets and is a good trading strategy when combined with price action. This retracement level is most likely to generate a reversal price move. Happiest Mind once bounced from 61.8% Fibonacci support in the month of July 2022. Currently, it is retesting the same support area and there is...
Weekly Analysis Last week Nifty opens with a slight gap, tested the previous week high's though did not sustain at highs, and moved lower and closed near the week's low. Formed: Bear Candle Price action combined weeks: Sideways {Inside candle - the price has been consolidating in a candle range for the past two weeks} Seems like the price would trade sideways...
Open - Slight gap up Resisted at 18000 in the first hour Retested Bullish cypher prz { 17879- 17921, giving an excellent risk-reward opportunity to become part of a recovery up till 18090-180130
Nifty 50 opens with a gap at 18087 vs the previous close at 18036. Nifty immediate was resistance is at 18100-18125. First Hour Candle did not take out the resistance nor the support, hence waited for further confirmation for new short trades. Following hour prices did break the immediate support at 18030 and moved lower towards the next support levels around...
Nifty opens flat at 18230. As we discussed in the previous post to go up, it should sustain 18230 levels , Though it did not sustain 18230 levels and slipped through the immediate support levels { 18180-18160 } in the very first hour suggesting weakness may continue in the rest of the session, further to the next support levels at 18100 - 18050 Shorts are...
Nifty 50 opens gap down at 18163 vs the previous close at 18197. Post-opening prices didn't move lower and recovered in the very hour then went sideways only to close near the day's high. In short, the day was sideways with a positive close. What's for Tomorrow Bullish Bias Flat or gap-up opening Immediate support at 18160-18180 Sustaining above 18230, nifty...
HDFCLIFE has been struggling to get past 600 levels since the start of 2022, every time prices reach there, it corrects all the way down. Currently, prices are again at 600 levels and now price action is giving positive signs, that breakout might happen this time. Price should sustain above 550 levels. Above 600, it might test 650 levels very fast. Wait for a...
Nifty50 opens with a gap today at 18131 vs the previous close at 18105. Today formed a bullish candle closed near the day's high. The price structure looks good and may continue to go up further to the next resistance level. The next resistance is at 18385- 18420. Immediate support at 18100
Godrej Properties The stock has fallen about 56% from its highs and the charts are still not at their best, meaning it could fall further. Now the question is how much further? The next support that I got from it from monthly and weekly charts are at 865- 740, this is the zone, where it consolidated earlier and saw a massive move on the upside. Major...
Nykaa 1. Lower High lower Low Structure 2. This week broke previous support @ 162.50 levels 3. Trading in Un-charted territory 4. Further support can be derived with the help of Fibonacci. 5. Plotted Fibonacci Extension connecting swing high of 428.95 and 315.45 and swing low of 203.15. 6. Fibonacci giving us the next support @ 89.65, which is 38% below the...
#nifty50 1. Daily Chart Opens with a slight gap Did not sustain Closed near day's low Formed Bear Candle Expectation for tomorrow Gap down or flat opening Sell on rise Resistance @ 18400-18420 2. Hourly Chart LL, LH structure. Immediate resistance 18260 - 18300. Sell on Rise If we see a pull in the initial hour, watch for a sell signal near resistance. There...
1. Monthly Timeframe Bullish - Charts are in great shape Bullish Candle closed near highs- November 2022 Made new high this month( Dec 2022) Monthly Support @ 38300-39100 Good as long, as the price sustains above support levels :) 2. Weekly Timeframe Shooting star candle is on an all-time high. Weakness is expected in the coming week. Swing Trades - Sell on...
UPL looks good on the daily and weekly chart and stock was also seen bouncing from the short-term support @ 755-760 Sustaining these support levels, stock can move up to 780 initially then towards 80 levels in the coming week. Though Index looks weak, try to take a trade as close to the support area for a better risk reward. Disclaimer: Trade at your own risk.
Nifty opens Gap down at 18600 vs the previous close at 18701. Since nifty opened at support around 18600-18550, we saw some recovery from there and it closed near the day's high at 18642. Now what's for tomorrow:- Above 18550 - the next resistance is at 18700-18720 Immediate support @ 18550-18600 Sustaining above these levels, the index can move towards...
Kotak Bank looks good on the daily weekly timeframe. If it sustains above 1900 levels, there are chances that it will move towards 2000 -2040 levels initially. There is an opportunity for both swing and positional trade here. For swing, it should sustain above 1935 levels For Positional, it should sustain above 1900 levels.
Yesterday, we saw a Price breakout in Tata Consumer Ltd. A breakout occurs with a Big Bull candle having good volume. Currently, there is a pullback to the same levels. The same levels , would now act as immediate support Sustaining these levels, stock might test 800 - 810 levels in the coming trading sessions Pullback trade Long Trade Swing Trade Support @...
The stock broke above the Previous Resistance with a Big Bull Candle with a Huge Volume. Now It is retracing back to the resistance level which would now work as immediate support Support levels: 1937-1942 Resistance: 1988 and 2016 Type of Trade: Swing, can covert into positional, as higher timeframes are quite a in sync with short timeframes. Great Risk...
We are seeing quite a fall in the prices of Titan Company Ltd since the first week of November 2022. Currently, prices have entered the zone from where they bounced previously in late September 2022 and there is a probability we might see a similar price behavior. With a small risk, it can be a rewarding swing trade.