SGX Nifty: Triangle Pattern - The Circle for Traders
Nifty is trending in the range for past five weeks and traders are confused to buy or sell.
It reminds of an iconic dialogue from the movie Chak De India when the opposition striker hits the last shootout and the coach analyse the angle of shot she will hit - "Ye Short Left Ki Taraf Maregi..Iski Stick Left Ki Aur Hai..Lekin Iske Pair To Right Ki Aur Hai..Right Ki Taraf Maregi..Left Right, Left Right..Yaa Khuda Yeh Toh Siddha shot Legi..!!"
The triangle pattern on charts is turning out to be the circle of trades as traders are buying and selling around the same prices. It's better to sit on sidelines and wait for the breakout.
It's the test of patience and convinction for the system traders.
Well, it's gala time for Options Writer's as such ranges are rare in the month of January.
Have a great trading day!
Nifty is trending in the range for past five weeks and traders are confused to buy or sell.
It reminds of an iconic dialogue from the movie Chak De India when the opposition striker hits the last shootout and the coach analyse the angle of shot she will hit - "Ye Short Left Ki Taraf Maregi..Iski Stick Left Ki Aur Hai..Lekin Iske Pair To Right Ki Aur Hai..Right Ki Taraf Maregi..Left Right, Left Right..Yaa Khuda Yeh Toh Siddha shot Legi..!!"
The triangle pattern on charts is turning out to be the circle of trades as traders are buying and selling around the same prices. It's better to sit on sidelines and wait for the breakout.
It's the test of patience and convinction for the system traders.
Well, it's gala time for Options Writer's as such ranges are rare in the month of January.
Have a great trading day!
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Fast Profits Daily
BankNifty - Bulls at wit's end 📈📉 Traders are tired and confused with the market condition as BankNifty is trading in the range for the past 5 weeks. The Breakout - Failure Bank Nifty was trading strong on the back of HDFC Bank which weights 27% on the…
BankNifty back to 42,000 mark 📉
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Nifty Expiry Levels today?
Anonymous Poll
11%
Above 18100
16%
18,000-18,100
36%
17,900-18,000
36%
Below 17,900
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SGX Nifty indicates the start of new series on positive note at 18,032 (+78).
The bearish momentum on expiry day ended in the range. The range of 17,750-18,250 will be decisive ahead of budget.
Adani stocks may set the trend the momentum for the day.
BankNifty has broken key support area of 41,800; 42,212 will be the key resistance and the bears have an upper hand on index.
#PreMarket
#SGXNifty
The bearish momentum on expiry day ended in the range. The range of 17,750-18,250 will be decisive ahead of budget.
Adani stocks may set the trend the momentum for the day.
BankNifty has broken key support area of 41,800; 42,212 will be the key resistance and the bears have an upper hand on index.
#PreMarket
#SGXNifty
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Nasdaq - The Momentum Breakout
The US IT Index- Nasdaq is witnessing the come back from the bearish momentum and confirming the reversal in yesterday's session.
The Spring, the lowest point and the bottom as per Wyckoff pattern is held strong in the last two LPS (Last Point of Support) indicates the bulls are ready to accelerate northwards momentum.
Dow Theory supports bullish reversal as index is forming higher high- higher low pattern.
Index has convincingly broken above the previous two highs strengthening the bullish trend.
As index enters the Phase-D of accumulation zone as per Wyckoff theory, the momentum may accelerate in next 2-4 weeks.
The bullish Nasdaq have positive impact on Indian IT Index.
#Nasdaq
#KeepItSimple
The US IT Index- Nasdaq is witnessing the come back from the bearish momentum and confirming the reversal in yesterday's session.
The Spring, the lowest point and the bottom as per Wyckoff pattern is held strong in the last two LPS (Last Point of Support) indicates the bulls are ready to accelerate northwards momentum.
Dow Theory supports bullish reversal as index is forming higher high- higher low pattern.
Index has convincingly broken above the previous two highs strengthening the bullish trend.
As index enters the Phase-D of accumulation zone as per Wyckoff theory, the momentum may accelerate in next 2-4 weeks.
The bullish Nasdaq have positive impact on Indian IT Index.
#Nasdaq
#KeepItSimple
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Nifty Weekly Performance in the Budget Week 💰📈📉
Your Prediction for 2023? 🎯
👍🏻 Positive Close
👎🏻 Negative Close
❤️ Volatile & Roller-Coaster
#Budget2023
Your Prediction for 2023? 🎯
👍🏻 Positive Close
👎🏻 Negative Close
❤️ Volatile & Roller-Coaster
#Budget2023
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Indian market slide ahead of Union Budget 2023 on back of Adani Stocks; US markets recover from lower levels.
As we are in the Budget week, volatility is expected to be higher; leveraging can be riskier. The weekly performance of Nifty in Budget Week has mixed results. Read here
On Nifty, the retest on Weekly chart indicates the support area at 17,452-17,539 while trend reversal can be expected only above 18,024.
SGX Nifty indicates positive opening of 55pts @ 17,744.
#PreMarket
#SGXNifty
As we are in the Budget week, volatility is expected to be higher; leveraging can be riskier. The weekly performance of Nifty in Budget Week has mixed results. Read here
On Nifty, the retest on Weekly chart indicates the support area at 17,452-17,539 while trend reversal can be expected only above 18,024.
SGX Nifty indicates positive opening of 55pts @ 17,744.
#PreMarket
#SGXNifty
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Charts of Indian Benchmark Indices 📈📉
1. Nifty 50 (Left Top)
2. Nifty 500 (Right Top)
3. Nifty Midcap Index (Left Bottom)
4. Nifty SmallCap Index (Right Bottom)
#KeepItSimple
1. Nifty 50 (Left Top)
2. Nifty 500 (Right Top)
3. Nifty Midcap Index (Left Bottom)
4. Nifty SmallCap Index (Right Bottom)
#KeepItSimple
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Forwarded from Equitymaster
Adani Group Stocks - You View at these levels...
Final Results
25%
I am a Buyer
31%
No I am Not a Buyer
6%
I am a Short Seller
38%
I have No View on Adani Group Stocks
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Forwarded from Equitymaster
When will Adani stocks regain their very high valuations?
Final Results
20%
In weeks from now
28%
In months from now
24%
In years from now
28%
Never
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Forwarded from Equitymaster
Does the crash in Adani Group stocks, also signal the end of the Indian bull run?
Final Results
19%
Yes
64%
No
17%
Can't Say
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US markets end on a negative note as megacaps take a dip ahead of earnings; Nasdaq and Dow Jones Transportation Index fell by ~2%.
The rollercoaster day yesterday on Indian markets can be expected in the next couple of days due to budget; lower your leverage position.
Nifty has reversed from the support zone and managed to close above its 200DEMA placed at 17,551.
Midcap Index is at the make-or-break of broadening triangle pattern; support is placed at 29,800.
#PreMarket
#SGXNifty
The rollercoaster day yesterday on Indian markets can be expected in the next couple of days due to budget; lower your leverage position.
Nifty has reversed from the support zone and managed to close above its 200DEMA placed at 17,551.
Midcap Index is at the make-or-break of broadening triangle pattern; support is placed at 29,800.
#PreMarket
#SGXNifty
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Forwarded from Equitymaster
On the potential impact of this year's Union Budget on the stock markets...
Final Results
55%
I am bullish
14%
I am bearish
15%
No impact
6%
I don't care
10%
Can't say
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Nifty Midcap Index - Time for some shopping therapy
Indian markets are underperforming their global peers as Nifty is down by over 2%, and most of the global equity indices trading on a positive note in January.
Traders had the premiere ahead of the Budget Volatility movie yesterday as the Nifty swings ~975pts and BankNifty over 3,500pts. This is the time when traders must manage risk and protect their capital.
Midcap Index – The Favourable Risk : Reward
When the sell-off begins, the first ones to hammer are small-cap and midcap stocks.
Technically, the stock is trading at the make-or-break levels of the chart pattern.
The broadening triangle or megaphone pattern is visible on the daily chart with the support placed at 29,800.
If bulls manage to reverse the trend from the support zone, expected target can be 10% to the upper band of broadening triangle while the risk is less than 2%.
Incase you are looking for midcap stocks to add to your watchlist, watch my latest video here.
#Midcap (CMP-30,200)
Indian markets are underperforming their global peers as Nifty is down by over 2%, and most of the global equity indices trading on a positive note in January.
Traders had the premiere ahead of the Budget Volatility movie yesterday as the Nifty swings ~975pts and BankNifty over 3,500pts. This is the time when traders must manage risk and protect their capital.
Midcap Index – The Favourable Risk : Reward
When the sell-off begins, the first ones to hammer are small-cap and midcap stocks.
Technically, the stock is trading at the make-or-break levels of the chart pattern.
The broadening triangle or megaphone pattern is visible on the daily chart with the support placed at 29,800.
If bulls manage to reverse the trend from the support zone, expected target can be 10% to the upper band of broadening triangle while the risk is less than 2%.
Incase you are looking for midcap stocks to add to your watchlist, watch my latest video here.
#Midcap (CMP-30,200)
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Fast Profits Daily
Nifty Midcap Index - Time for some shopping therapy Indian markets are underperforming their global peers as Nifty is down by over 2%, and most of the global equity indices trading on a positive note in January. Traders had the premiere ahead of the Budget…
Midcap Index 30,200 to 30,600 🔥
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Nifty hovers in the range while the Midcap and SmallCap indexes shine with gains of 1.63% and 2.91% respectively.
The benchmark indexes are reversing from their 200DMA indicating the support and reversal ahead of the volatile day tomorrow on account of the Union Budget.
Midcap Index has turned bullish from the support of megaphone and 200DMA. Read here
The major hurdle for the Nifty tomorrow will be 18,034 while support is placed at 17,352-17,439.
What do you think about the outcome of the Union Budget tomorrow?
👍🏻Positive for Markets
👎🏻 Negative for Markets
❤️ No impact
The benchmark indexes are reversing from their 200DMA indicating the support and reversal ahead of the volatile day tomorrow on account of the Union Budget.
Midcap Index has turned bullish from the support of megaphone and 200DMA. Read here
The major hurdle for the Nifty tomorrow will be 18,034 while support is placed at 17,352-17,439.
What do you think about the outcome of the Union Budget tomorrow?
👍🏻Positive for Markets
👎🏻 Negative for Markets
❤️ No impact
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US markets ends on a positive note; Asian indices follows US as SGX Nifty trades up by 120pts at 17,870.
It's D-Day for traders as the most anticipated volatile day of the year, the Union Budget is here.
Traders should focus on index for day trading today as volatile can be high.
Nifty50, Nifty500 and Midcap indexes are hovering at 200DMA indicating the strong support zone for bulls.
The monthly chart of Nifty50 has turned bearish as we witnessed the followup bearish candlestick after bearish engulfing in December 2022.
#PreMarket
#SGXNifty
It's D-Day for traders as the most anticipated volatile day of the year, the Union Budget is here.
Traders should focus on index for day trading today as volatile can be high.
Nifty50, Nifty500 and Midcap indexes are hovering at 200DMA indicating the strong support zone for bulls.
The monthly chart of Nifty50 has turned bearish as we witnessed the followup bearish candlestick after bearish engulfing in December 2022.
#PreMarket
#SGXNifty
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Nifty - Bearish Pattern @ Open
The bearish belt hold pattern is visible on the 30mins chart of Nifty (spot) as it opens at 17,815 and slides down.
Unfortunately, the bearish pattern is formed at the support-turned-resistance zone of 17,775.
As volatility can be on cards today, the bulls need to surpass 17,845 for the resumption of a trend towards 18,000+ levels; till then the bears have an upper hand.
The only thing so far for the bulls is the 17,735.70 - the low of today (so far) and the high of yesterday.
The break below 17,730 may accelerate the bearish momentum while the move above 17,845 may extend the bullish momentum towards 18,000.
#Nifty - 17,785
#KeepItSimple
The bearish belt hold pattern is visible on the 30mins chart of Nifty (spot) as it opens at 17,815 and slides down.
Unfortunately, the bearish pattern is formed at the support-turned-resistance zone of 17,775.
As volatility can be on cards today, the bulls need to surpass 17,845 for the resumption of a trend towards 18,000+ levels; till then the bears have an upper hand.
The only thing so far for the bulls is the 17,735.70 - the low of today (so far) and the high of yesterday.
The break below 17,730 may accelerate the bearish momentum while the move above 17,845 may extend the bullish momentum towards 18,000.
#Nifty - 17,785
#KeepItSimple
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