Banknifty Trading at lower end of the rising channel.

BankNifty Cmp 19700

Price already corrected sharply and a made a swing high at 21967.

I'm not expecting Banknifty to fall another 1000 points form these levels by Thursday. Expecting consolidation for a day or two before a sharp move to either side.

So here is a positional short option trade.

Short 18500 PE at 105 for target 0.00
Weekly Expiry.

Stop-loss should be as per your risk apatite.

Nifty broke yesterday's low and now trading at 9270. Don't buy now wait for the gap to be filled at 9175-9250. We will buy closer to 9200 after the gap fill.

Entry is more appropriate and wise above 9260. Wait for nifty to show some strength.

Okay, Trade is Active and Stop-loss is 9116. A Swing low. Nifty Crossed 9260. Target is 9700.

Target is 9700. Risk/Reward 1:4

SBIN trading inside the falling wedge chart pattern( Reversal Pattern )
It has Rsi Divergence ongoing with
two Doji Candles at the bottom.

It's a good Technical Trading Setup.

Buy above 174, Keeping stop at 166 for a minimum target of 189.

Sbin cmp is 172.15

This was 0.00 yesterday.

Cadila, Stop-loss hit. Any single tick below 320 is a stop-loss triggered. No Waiting, and No Watching.

Trading set-up is still tradable once it closes above 338 If 318 holds. I will buy it once again at 340.

Or else wait for lower levels at 290-300.

I don't do intraday trading. But shorting options in intraday on trading set-up like this one is my favourite.

A GAP Fill Trade. Keep quantities small.

Short 18200 PE at 80 Target 40.
Stop-loss, when Banknfity spot closes below Yesterday's low on 15m timeframe.

Banknfity Closed below yesterday's Low on 15 m timeframe. cmp 102 and it's Stop-loss Triggred.

Trade Closed. Stop-loss Triggered. From 9260 It went to 9440. On this trade no trade management was applied not even trailed the stop-loss at cost, when nifty went up.

We are in a counter rally, or counter-trend which is almost near to end. We are going back to 7500, but slowly.

Technical Analysis & Trading both are different Skills.

Nifty Breaking the most basic structure of market progression. Breaking Higher High - Higher Lows Structure.

Lupin Update

After a Bullish Flag Breakout at 855, it went to 905 and fell back to the consolidation zone. It's still consolidating with an upward bias. Lupin formed a falling wedge pattern and now trading at supply or resistance zone. Revising Stop-loss from 785 to most recent pivot at 805.

Upside target is 950.

Lupin forming a Head & Shoulder pattern as well, a fall below 800 will confirm the Head & Shoulder reversal.

Nifty made a clear bearish structure. Lower high - Lower Low.

Look for shorting opportunities on intraday or short term rallies.

Strong support is 8200, A gap to be filled.

Fibbo 1.168% extension is also at 8217. So 8200 zone will be a strong support to watch for a high RR ratio trade.

Near term pullback levels or support is 8700-8740 zone. ( 8700 is a 50% Retracement level of recent up move from 7500 to 9889)

I will look to short rally or the pullback when I get a trade setup with a high RR ratio opportunity.

Bharti Airtel... Target Reached.
CMP 585
Entry was at 505,
When the price reached 530, a covered call was applied, shorted 570 call at 19, which is 28 right now.

Exiting this trade at and what we get is,
505-585 = 80 Rs Profit.
570CE, Premium 19 - 28 = 9 Rs loss
What we get is 71 RS and it is 1:3+ Risk Reward Ratio.

Because of covered call we don't get anything above 570+19=589. Even if Bharti goes to 650 our profit will be limited to 505-589, which is 84 Rs.

Our objective of 1:3 RR is Achieved at CMP 585 and Trade is Closed.

Risk/Reward Achieved is 1:3+

TCS Trade Update.
CMP 1950
Entry was at 1850, A triangle breakout.

TCS respecting support levels.
From 1850 it went to 2032 and fall back to it's previous tops which acted as support levels and now TCS bouncing back from that support zone.

Trailing SL from 1720 to 1850.
Target is 2140.

Will apply more trade management tools, once TCS breaks the upper Flag line.

A Stop-loss Triggered on 26th May 2020.

The price went to 1125 from 1210.
No Trade Management was applied here. Trade Management is very important, even more, important than the technical analysis itself.

Stay tuned, from June 1, lots of practical educational concepts related to trading and technical analysis are coming.

I keep this channel and posts as practical as possible. Always applying technical analysis and concepts in real-time, I never use past examples for learning because it has no practical value.

I can show you as many examples as you want, but showing the past and explaining how beautifully it worked has no practical value in learning.

From June 1st we will have lots of good and practical educational concepts coming on about trading and technical analysis.

Thanks.

Trading an Inside Bar After a Triangle Breakout - Continuation

Century Textiles - Risk-Reward Ratio 1: 4.80
Long Above 345
Stop-loss 325
Target 438

Century textiles broke out of a symmetrical triangle recently. It formed an Inside Bar today after a strong up move yesterday.
Two or more up days prior to inside days or bar increases the probability of upward momentum to continue after a breakout.

Trading With Inside Bars
Inside bars/days represents volatility contraction and a temporary pause in ongoing momentum.
Inside bars can be traded with the trend or at the time of trend reversal.
There are many variations in Inside bars. I'm not gonna write an article here explaining Inside bars. Just Google it.

The idea is to go long above the high of yesterday's strong up move. Expecting the upward momentum to continue after today's inside bar formation or today's pause in momentum.