The bulls are seizing an opportunity within the demand zone on the Dow Jones, finding support at the retest of the neckline in a multiple inverted head and shoulders pattern.
Nasdaq has gained 3% so far this week, while Nifty IT might follow the Nasdaq trend, as it is currently trending around the support of the gap area and the 200HEMA.
Nifty is encountering resistance at the descending trendline formed by the lower high - lower low pattern around the 19,500 level.
On the derivatives front, the writers of the 19500CE and 19600CE (expiring today) have an OI of 2.76 lakh and 2.5 lakh contracts respectively. A potential short-covering rally might materialize only if index surpasses the 19,627 mark; until then, a trading range of 19,300 and 19,600 can be on cards for the day.
Bank Nifty outperformed yesterday, surging by 1.10%. The presence of a head and shoulders pattern on the chart suggests a potential opening for bearish positions, with a recommended stop-loss set at 45,200.
#GiftNifty
#PreMarket
Nasdaq has gained 3% so far this week, while Nifty IT might follow the Nasdaq trend, as it is currently trending around the support of the gap area and the 200HEMA.
Nifty is encountering resistance at the descending trendline formed by the lower high - lower low pattern around the 19,500 level.
On the derivatives front, the writers of the 19500CE and 19600CE (expiring today) have an OI of 2.76 lakh and 2.5 lakh contracts respectively. A potential short-covering rally might materialize only if index surpasses the 19,627 mark; until then, a trading range of 19,300 and 19,600 can be on cards for the day.
Bank Nifty outperformed yesterday, surging by 1.10%. The presence of a head and shoulders pattern on the chart suggests a potential opening for bearish positions, with a recommended stop-loss set at 45,200.
#GiftNifty
#PreMarket
👍18❤4
BankNifty: Pattern Signals Decline of 2,000 points 📉
The Bank Nifty broke below a significant technical pattern known as the head and shoulders at the 44,500 level.
The breakdown has led to a dip towards 43,600, suggesting potential downside pressure.
Keep a close watch as the index retests the neckline at 44,500. The zone between 44,500 and 44,700 now presents a potential opportunity for the bears as this area could act as a resistance turned support. A sustained move within this range might signal further downward movement.
The bearish pattern will be negated if the index manages to climb back above the 45,250 level.
#BankNifty
#KeepItSimple
The Bank Nifty broke below a significant technical pattern known as the head and shoulders at the 44,500 level.
The breakdown has led to a dip towards 43,600, suggesting potential downside pressure.
Keep a close watch as the index retests the neckline at 44,500. The zone between 44,500 and 44,700 now presents a potential opportunity for the bears as this area could act as a resistance turned support. A sustained move within this range might signal further downward movement.
The bearish pattern will be negated if the index manages to climb back above the 45,250 level.
#BankNifty
#KeepItSimple
❤19👍13👎1
Fast Profits Daily
BankNifty: Pattern Signals Decline of 2,000 points 📉 The Bank Nifty broke below a significant technical pattern known as the head and shoulders at the 44,500 level. The breakdown has led to a dip towards 43,600, suggesting potential downside pressure. …
BankNifty - Updated Chart
👍35❤6🔥6👎2
W35.png
27.1 KB
Weekly Seasonality Analysis on Nifty 📈
As we step into the final week of the August series, Nifty ventures into the 35th week of 2023.
A fascinating insight from Seasonality Analysis has emerged – out of the 52 weeks in a year, a mere 8 have displayed an average gain of over +1% throughout a historical span of 27 years. Interestingly, Week 35 stands proudly among this select group.
Delving deeper into the statistics of Week 35, we observe an average gain of 1.09%. This remarkable figure is backed by a track record of 19 positive years, where the market saw an uptrend and only 8 years when it experienced a downturn. The significance of these findings sheds light on the potential opportunities this week might offer.
Happy Sunday!
#SeasonalityAnalysis
#Nifty
As we step into the final week of the August series, Nifty ventures into the 35th week of 2023.
A fascinating insight from Seasonality Analysis has emerged – out of the 52 weeks in a year, a mere 8 have displayed an average gain of over +1% throughout a historical span of 27 years. Interestingly, Week 35 stands proudly among this select group.
Delving deeper into the statistics of Week 35, we observe an average gain of 1.09%. This remarkable figure is backed by a track record of 19 positive years, where the market saw an uptrend and only 8 years when it experienced a downturn. The significance of these findings sheds light on the potential opportunities this week might offer.
Happy Sunday!
#SeasonalityAnalysis
#Nifty
👍33❤7👎3🔥2
Fast Profits Daily - Repro Books Ltd: The Next Multibagger Penny Stock?
Is this the next big multibagger penny stock? Find out...
Click for More...
http://www.eqtm.in/r9QRs
Is this the next big multibagger penny stock? Find out...
Click for More...
http://www.eqtm.in/r9QRs
👍5❤1
Forwarded from Equitymaster
Is Suzlon Energy the Best Wind Energy Stock Right Now?
Believe it or not, Suzlon Energy is charting a comeback story. Here’s what technical indicators suggest.
http://www.eqtm.in/Xp9z3
Believe it or not, Suzlon Energy is charting a comeback story. Here’s what technical indicators suggest.
http://www.eqtm.in/Xp9z3
👍14❤5👎1
Dow Jones recently rebounded from the critical psychological support at 34,000, shaping the Bullish Bat Harmonic pattern on its daily chart. The bulls can look for long with the stop-loss below 33,900.
Nifty bulls are currently relying on the support range of 19,200-19,270, and a successful defense of this zone could potentially pave the way for reaching 19,600 levels this week, while a breakdown below the support may lead to a test of 19,000 levels.
The momentum of Nifty could be significantly influenced by the movement of Reliance Industries, as the company's stock is currently trading at a critical do-or-die technical level of 2,400.
Bank Nifty is displaying indications of bullish momentum, with potential to reach the 45,000 levels before expiry; however, the trend could reverse if the support at 44,189 is breached.
#GiftNifty
#PreMarket
Nifty bulls are currently relying on the support range of 19,200-19,270, and a successful defense of this zone could potentially pave the way for reaching 19,600 levels this week, while a breakdown below the support may lead to a test of 19,000 levels.
The momentum of Nifty could be significantly influenced by the movement of Reliance Industries, as the company's stock is currently trading at a critical do-or-die technical level of 2,400.
Bank Nifty is displaying indications of bullish momentum, with potential to reach the 45,000 levels before expiry; however, the trend could reverse if the support at 44,189 is breached.
#GiftNifty
#PreMarket
👍13❤3👎2
Wishing you all a joyous Onam filled with happiness, prosperity, and the vibrant colors of tradition.
Happy Onam!
Happy Onam!
👍17❤7
Forwarded from Equitymaster
Indiabulls Housing Finance Share Price - Is this the Final Bottom?
The stock rallied 7% in June 2023, 16% in July 2023 followed by close to 30% in the current month. What next?
http://www.eqtm.in/c2RKg
The stock rallied 7% in June 2023, 16% in July 2023 followed by close to 30% in the current month. What next?
http://www.eqtm.in/c2RKg
👍18👎1
I’m attending my colleague Rahul Shah’s online event today.
It goes LIVE at 5pm. That’s just a few moments from now.
Rahul is going to reveal his big prediction today. He believes India is set to take a giant leap in terms of prosperity.
If things play out as his research suggests, then this leap could potentially generate wealth at a scale we’ve probably never seen before.
Rahul says, this is one of the biggest opportunities for investors in the recent times.
I highly recommend you join now to get all the details. Just click the link below…
http://www.eqtm.in/e5XWc
Tap here for details
www.equitymaster.com
It goes LIVE at 5pm. That’s just a few moments from now.
Rahul is going to reveal his big prediction today. He believes India is set to take a giant leap in terms of prosperity.
If things play out as his research suggests, then this leap could potentially generate wealth at a scale we’ve probably never seen before.
Rahul says, this is one of the biggest opportunities for investors in the recent times.
I highly recommend you join now to get all the details. Just click the link below…
http://www.eqtm.in/e5XWc
Tap here for details
www.equitymaster.com
❤9👍1
Dow Jones has begun to reverse from the Bullish Bat harmonic pattern around the 34,000 level, and if it manages to close above 35,067, this could further accelerate the bullish momentum.
Nifty is displaying a lower high pattern as it undergoes a reversal from the 19,452 mark. On expiry day, the bears seem poised to take control, even though there is support situated within the range of 19,250 to 19,300. The momentum indicator suggests that the bears are likely to guide the index towards the levels of 19,120 to 19,150.
BankNifty is consistently experiencing short positions at elevated levels, with traders keeping an eye on the head and shoulders pattern visible on the chart. The bulls are expected to gain traction only if the index manages to surpass the 45,000 mark.
What is your trade on Expiry?
Bullish 👍🏻
Bearish 👎🏻
Straddle/Strangle ❤️
#GiftNifty
#PreMarket
#ExpiryTrade
Nifty is displaying a lower high pattern as it undergoes a reversal from the 19,452 mark. On expiry day, the bears seem poised to take control, even though there is support situated within the range of 19,250 to 19,300. The momentum indicator suggests that the bears are likely to guide the index towards the levels of 19,120 to 19,150.
BankNifty is consistently experiencing short positions at elevated levels, with traders keeping an eye on the head and shoulders pattern visible on the chart. The bulls are expected to gain traction only if the index manages to surpass the 45,000 mark.
What is your trade on Expiry?
Bullish 👍🏻
Bearish 👎🏻
Straddle/Strangle ❤️
#GiftNifty
#PreMarket
#ExpiryTrade
👎33👍21❤2
Bank Nifty under Bear's Grip 🐻
Remember the wise old bear from The Jungle Book? He taught Mowgli to seize the sweet rewards by braving the climb for honey. 🍯
In a similar fashion, the bear seems to be eyeing the honeycomb of opportunities within Bank Nifty.
The index is teetering on the edge of a continuation breakdown, having already broken free from a head and shoulders pattern.
A breach below the critical support at 44,000 might just trigger an acceleration of the bearish momentum.
Brace yourselves as the path seems to lead towards 43,300-42,800 in the days to come.
#BankNifty
#KeepItSimple
Remember the wise old bear from The Jungle Book? He taught Mowgli to seize the sweet rewards by braving the climb for honey. 🍯
In a similar fashion, the bear seems to be eyeing the honeycomb of opportunities within Bank Nifty.
The index is teetering on the edge of a continuation breakdown, having already broken free from a head and shoulders pattern.
A breach below the critical support at 44,000 might just trigger an acceleration of the bearish momentum.
Brace yourselves as the path seems to lead towards 43,300-42,800 in the days to come.
#BankNifty
#KeepItSimple
👍36👎2❤1
Dow Jones concluded August with a 2% decline, while the DAX experienced a 3% loss. Indian benchmark indices, Sensex and Nifty, both incurred losses of 2.5% each.
Should the Nifty close below 19,265 today, it will mark six consecutive weeks of negative closures; the range of 19,155-19,200 is expected to provide support for the day.
Bank Nifty's reversal from the retest of the head and shoulders pattern neckline suggests that the bears have taken control of the trend. The presence of a dumpling top candlestick pattern during the retest further indicates a potential shorting opportunity.
Bulls should focus on auto and metals stocks.
#GiftNifty
#PReMarket
Should the Nifty close below 19,265 today, it will mark six consecutive weeks of negative closures; the range of 19,155-19,200 is expected to provide support for the day.
Bank Nifty's reversal from the retest of the head and shoulders pattern neckline suggests that the bears have taken control of the trend. The presence of a dumpling top candlestick pattern during the retest further indicates a potential shorting opportunity.
Bulls should focus on auto and metals stocks.
#GiftNifty
#PReMarket
👍28❤4👎3