Nifty - Rally for Reverse Head and Shoulders ToppedReverse head and shoulders pattern had depth of 1129 points to the head from base. This meant push of 1129 points from base to further up which comes up to 13297.
Nifty seems to have topped at that level and coincidentally that the level of resistance line Nifty has been following since Covid times.
Any closing below 13297 shall open Nifty up for fall to 12400 levels by Dec end.
Niftyindia
Possible change in Stock Selection ?Possible change in Stock Selection ?
In the above chart we are comparing 3 indices :
NIFTY ( BLUE )
NIFTY SMALLCAP ( GREEN )
NIFTY MIDCAP ( PINK )
As we can see from 27th Nov 2020 onwards SMALLCAP & MIDCAP has overtaken NIFTY . This could indicate beginning of stock rotation . Hopefully we get a confirmation by the end of December
NIFTY - DEC 10TH WEEKLY EXPIRYMark my words, there is gonna be a change in trend once the red trendline is hit...
This is gonna be a tricky trade, but i am damn sure there will be a big move the day before and on the the expiry day...
Keep calm when there is noise, just replicate the trendline i have shown and just go crazy buying the puts, but on 9th and 10th only, i am damn sure you will get it at a bargain...
this is gonna be a AHA trade for sure...
But these are my views take it or leave it... Nobody's gonna share there profits with me sooo dont blame me for your losses "IF ANY" but i dont think there would be...
Nifty 4th December Today's market was range bound due to expiry but but tomorrow we can see a trending market. I'm still positive on the market as this market rally is basically fii's buying and they bought 3500 Cr again today, the option chain has has slightly more put writing than call writing but basically the option chain data is inconclusive. All the world index's are hitting all time highs day after day and yes the markets are overbought but that doesn't mean you should start shorting the markets just go with the flow and keep trading intraday considering the daily trend but keep in mind that there's gonna be a bullish reversal everytime the market turns red. It's literally a bull market and shorting is just stupid. USA stimulus and all that, though USD was weak af today yet the fii's bought. Markets might correct after the stimulus runs dry when everyone realises that we can't pay back the Loans and keep supporting a bull run but the last pump got us here guess where another pump could take us
This market would bring back Harshad Mehta from the dead
Nifty50 2 Dec 2020Nears to a sub triangle breakout inside the main channel, Looks like reaching an end of a trend
If the market opens With
A gap up there can be a small move uptrend followed by a heavy downtrend
A gap down a retest to the same level is possible followed by a downtrend
Close to prev close, We might see a range market or minor uptrend till channel top
BANK NIFTY - Trade - Easy Trendlines - Support and ResistanceHi
Based on pasrt weekly, monthly trendlines - Bank Nifty is in strong resistance Zone and consolidating from past couple of sessions.
Take fib retracement from recent high to low and gives us clear S/R & turning points of 0.618 & 0.5 and 0.382 levels.
Wait & Watch - Banknifty to cross/break the trend lines ... Easy PE trade possible.
Trade with trend.
NIFTY spot Beginning of SupplyNSE:NIFTY
Last Two Barrs (Week of 17th and 23rd November 2020) Of The Weekly Chart Of Nifty Spot Are May Be The Indications Of Beginning Of The Supply And A Good Correction After A Descent Rally Will Be Near.
Why I am saying this will be the beginning of the supply, well look at the range marked which starts from the week of 23rd March 2020 and end at 09th November 2020 and try to observe the price range of each candle those were looking good while they were moving up and closing of those candles were also descent (near the high of the candle) and you can clearly say there is no hurdle for prices to move up.
Now all of a sudden, “not actually though, as there is nothing which happens suddenly in stock market its all pre planned”, if we see last two weeks candles and try to compare with them with the trading range mentioned above you will notice there is definitely some weakness appearing for higher prices now.
There are few more things which are in favor of this view, one of which is that index now trading at its lifetime high, almost 700 points up from last lifetime high and second one is Trend Line which is now acting like a good resistance.
Do note one think, these all things does not mean we are going to see correction right a way in coming weeks (well it may also be depends on smart money’s mood) it may take some time for smart money to unload descent amount of supply and once they done it will show good correction.
Prices may churn for a while and we will see mushrooming top forming on top (which may create minor new high) at least on daily chart.
Consider last two weeks(Week of 17th and 23rd November 2020) high and low as which are 13145-12730 a range for NIFTY spot where we will see retailers getting trapped in to psychology of HOPE.
HEAD & SHOULDERS + ELLIOT CORRECTION WAVE IN ICICI BANK POSSIBLE SHORTING OPPORTUNITY IN ICICI BANK WITH THE ABOVE STATED PATTERNS.
NOTE : POSSIBLE NOT GUARANTEED*
ALTHOUGH I AM ALREADY LONG IN ICICI BANK, IN CASE THE BULLS LOSSES THE BATTLE, I KNOW BY HOW MUCH IT GONNA MAKE A POSSIBILE DIP SO I AM CALM AT THE MOMENT :D