chinmayjog

chinmayjog

NIFTY is trying to break a previous swing high at 17652. A gap-up open or a high volume backed move to breach that will take nifty towards 17750. If it does not break this level, it will move back down to 17500. One needs to wait and watch before taking any further action. DISCLAIMER: I am not a SEBI registered advisor. Views are personal, meant for my own consumption.

chinmayjog

NIFTY has given a big bullish candle on the hourly chart, but is now stuck at the 17500 level. Breach and close above 17520 on the hourly chart will take NIFTY towards 17600. Current levels to be traded cautiously. Waiting for close on hourly candle would be prudent. Failing to close above 17520 on the hourly chart will make NIFTY move in range of 17400 to 17500.

chinmayjog

Disclaimer: I am not a SEBI registered advisor. All views personal, published for validation only. If NIFTY manages to close above the EMA 200 level of 17260 on the hourly chart, then move towards 17330 is possible. On the other hand, closing below the EMA 200 would indicate not enough momentum, and rangebound moves between 17150 and 17260 are expected. And as...

chinmayjog

Breaking the EMA 89 level of 17213 on daily chart will give good momentum towards the target of 17400. Until this level is breached strongly on the chart, a cautious view of the market is favourable. Although a gap up opening above all the previous resistances suggests good momentum, it is always better to wait for confirmation. A very narrow 50 point range...

chinmayjog

NIFTY has started its journey upwards, 17050 important levels. 17200 looks to be the next resistance, as 89EMA and 21 EMA both approaching this level on daily chart. Also 0.618 on daily chart near 17180 which also provides a stiff resistance. 17150 is previous high. Breaking these levels will result in movement towards 17400. Until then, small range between 16800...

chinmayjog

Disclaimer: I am not a SEBI registered advisor. Views strictly personal, not to be used for actual trading. NIFTY is taking support at 21EMA, also 0.382 levels in both downtrend and uptrend providing support at 16850 levels. Also current price taking support at the upper trend line of the price channel. If NIFTY does not breach these levels, then a positive trend...

chinmayjog

NIFTY might play a small range between 16800 and 17000 today (Thursday 23rd December 2021). Good support at 16900 levels given by confluence of fib line (0.382) and the EMA 21. Lot of calls sold at 17000, 17100 and 17200 levels indicate strong resistance to move upwards. Max pain levels at 17050 levels suggest that expiry will be around this. Disclaimer: I am not...

chinmayjog

Disclaimer: I am not a SEBI registered entity. All ideas shared are personal opinions and should not be treated as advice. Please connect with your advisor before taking any trade. Looks like NIFTY will take support at 200 EMA levels or earlier -- a confluence of the 200 EMA around 16300 levels and the all important Fib 1.618 level around 16400, the zone looks to...

chinmayjog

Disclaimer: I am not a SEBI registered advisor. Views are strictly personal. NIFTY has not been able to close below 17200 levels for consecutive days indicating a strong support for tomorrow's expiry. Also, 17175 will act as a support. Call writing suggests 17300 as an immediate resistance for tomorrow (16th December 2021). In my opinion, NIFTY will remain...

chinmayjog

Wedge pattern forming on NIFTY 15 min TF. Also EMA 89 acting as resistance, EMA 21 acting as support. Looks like a move downward from EMA 89 is possible. Disclaimer: Idea for purpose of study. I am not SEBI registered, please take prior advice from your advisor before taking trade.

chinmayjog

I am not a SEBI registered advisor and not advicing anyone to take trades based on below description. Please connect with your own advisor and then take trades. Bullish signal by due to price crossing EMA 89 on daily chart. Also formation of falling wedge pattern indicates bullishness. Will initiate buying between 715-745 levels with SL below 700 on daily...

chinmayjog

A symmetric wedge pattern formation can be seen on the INDIAMART charts, also there is the resistance from the fibs at 0.236 ratio. I would be biased towards shorting INDIAMART. Caution to be exercised. Overall market also looks in mood of correction. Depending on which trendline is broken, a target of 9500 on upside and 7500 on downside is possible. I am not a...