Nifty - 17,400, The Laxman Rekha

An index is trading at the crucial juncture of an Ending-Diagonal / Bearish Wedge pattern with a breakdown level below the previous low of 17.429.

The 23.60% Fibonacci retracement of 15,183-18,096 is placed at 17,408.

The bulls need to protect the Laxman-rekha level of 17,400.

The breakdown may shatter the hopes of new-all time highs and we may follow the Dow Jones way.
(CMP-17,470)

#Nifty
#KeepItSimple

BankNifty - Reciprocal AB=CD + Trendline Support

Pattern negates below 39,400

#BankNifty
#KeepItSimple

#Nifty Bulls trying hard to protect the support.

Can they hold?
👍 Yes
👎 No

The bears lead for a straight second week as the Nifty ends at 17,327 losing 1.16% while an outperforming Bank Nifty witnessed the profit booking losing 3% during the week.

The bearish engulfing followed by the bearish bar on the weekly chart blurs the future of a new all-time high for the Nifty; the break below 17,000 will confirm the short-term top at 18,096.

On the daily chart of the Nifty, the previous swing of 17,429 is breached indicating the bears are having an upper hand in the trend.

As we step into expiry week, the PCR ratio of 0.63 on the Nifty indicates something for bulls if the 17,100-17,000 range is protected by bulls.

Brijesh Bhatia
Research Analyst, Fast Profit Report

Mesmerizing Saturday Morning

This week in the Investor Hour...

A very special conversation on picking the right stocks, constructing the right portfolio, and why it's time to bet on India...

With Pankaj Tibrewal of Kotak.

It's an unmissable conversation.

Watch the podcast here...

Daily Pre-Market Analysis - 26th September | Nifty - The Trend Reversal Trade | Dow Jones @ 52-weeks Low |

SGX Nifty Live @ 17,180

Have a Profitable Day!

#PreMarketAnalysis #KeepItSimple

https://youtu.be/vHOBxY-idGc

Crude Oil Update - Goodbye $100

On 17th August 2022, I released a video indicating “Goodbye $100 Crude Oil” and Commodity Crash is on cards.

The oil prices were trading around the $88-89 mark and attempted to head higher but failed to cross above the $100 mark (High-$97).

The Breakdown

Crude Oil prices have breached the first support of $83 and heading for the major breakdown of $75.

Technically, the triangle breakout (red) at $85 triggered the bullish momentum towards $129. The level at the lower end of the triangle and the previous swing high (black horizontal line) is placed at $76 marking the do-or-die structure for bulls.

A close below $75 means the medium-term top is in place and we may forget the $100 price in 2022.

The southwards momentum may continue towards $65-50 levels in the coming months.

Equity investors can explore the stock’s benefits by falling Crude Oil prices.

#Crudeoil
#KeepItSimple

#Nifty 17000PE writers are managing to hold 17,000...Another Gap-Down and they may run to Exit.

Will Nifty Gap-down tomorrow?

👍🏻 Yes
👎🏻 No
❤️ Its Oversold - No View

The Monday mayhem on D-street after the Dow-Jones hitting a new 52-week low on Friday; Sensex and Nifty ends losing 1.64% and 1.8% respectively.

The wedge breakdown followed by the double top chart pattern on the daily chart confirms the trend reversal as the index closes below the neckline of 17,166.

The bulls tried hard to reverse during noon, but it was the retest of breakdown and the bearish momentum prolonged in the last hour of the day.

The momentum took a pause for the Nifty at the 200DMA (Daily Moving Average) placed at 16,992.

The PCR (Put/Call Ratio) for September Expiry is at an oversold level of 0.58.

With the price trending around the long-term 200DMA and PCR in an oversold zone; can we expect Reversal this week? 📈📉

Bulls need to cross and close above 17,660 to confirm the bullish reversal; else the rise will be an opportunity for bears.

Daily Pre-Market Analysis - 27th September | Nifty - Options Writers indicates Short-Covering Rally |.

SGX Nifty Live @ 17,070

Have a Profitable Day 📈💰

#PreMarketAnalysis #KeepItSimple

https://youtu.be/eTw9KVXlG64

Do you know - The Dollar Index weights are revised just once since its inception in 1973 when Euro was launched.


Completing its 50 years in March 2023, should it be Revised with the addition of new currencies?

👍🏻 Yes
👎🏻 No
❤️ It doesn't matter to India

Nifty - It's the Short Strangle Day so far 📈📉📈📉

The bulls protecting the 17,000 marks on Nifty; end at 17,007.

The heavyweight’s Reliance Industries, TCS and Infy came as the savior for bulls.

BankNifty fell for a straight fifth day; the 37,800 will be do-or-die for bulls.

The 17000PE witnessed unwinding in the
last hour of the day; the fall below 16,940-16,950 may trigger a sell-off towards 16,800 levels tomorrow.

The PCR for Nifty and BankNifty is below 0.6 signalling the pause to bearish momentum on expiry day.

Brijesh Bhatia
Research Analyst, Fast Profit Report

Daily Pre-Market Analysis - 28th September | Nifty - Expiry Strategy | Sectorial Index |

SGX Nifty Live @ 16,865

Have a Profitable Day!

#PreMarketAnalysis #KeepItSimple

https://youtu.be/9_FdYNdm1Rg

Nifty - Hang in there

The gap-down opening right at the support indicates the make-or-break expiry.

The bears are yet to capitalize on the bearish opening and losing momentum.

Technically. the index is trending at the confluence of the support area.

1. Horizontal Trendlines
2. Resistance turns Support
3. Bullish divergence on RSI

As per derivative structure, the unwinding in 17000PE and addition in 17000CE indicates the pause towards 17,000-17,030 on an intraday basis.

On the 5mins chart of Nifty, the bullish harami candlestick pattern signals an intraday reversal.

The bears may attack only on the breach of day low 16,825.

The rising India VIX suggests a volatile day. A quick in and out trading is advisable.
(CMP-16,900)

What are your thoughts on 16950CE?
👍🏻 Bullish
👎🏻 Bearish