Fast Profits Daily
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Fast Profits Daily
Fast Profits Daily - Goodbye US$ 100 Crude Oil The crude oil price is very close to an important support. It could crash if it falls below it. http://www.eqtm.in/Ca6o8
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
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Fast Profits Daily
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
#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
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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.
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Nifty - In an Oversold Zone, But...

Even after Dow Jones ended in red by over a per cent at a new all-time low, Indian markets started the day in positive ticks.

In the Daily Pre-Market Video, I highlighted the Options Writers are indicating the Short-Covering rally and we are witnessing an addition in 17000PE and 17100PE in the first 30mins.

Technical Structure signals Bulls falling at the first hurdle.

1. The breakdown of the double-top pattern and previous swing low at 17,166 (marked black Trendline)
2. The 200EMA on a 2hours chart
3. The Gap area

Even though the Relative Strength Index (RSI) slope is trending northwards in oversold territory, the price action is rejected at the confluence of the resistance zone.

We may have a rangebound day till 16,950-17,230 levels are not taken out.
(CMP-17,075)

#Nifty
#KeepItSimple

What is your Trading plan for the day?
👍🏻 Buying
👎🏻 Selling
❤️ Short Strangle
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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
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Reliance - The Savior!
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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
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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
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Bank Nifty - Are we Closing near 38,000?
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Index slips over 4% in the last 5 trading sessions; ends September series at 16,868 on Nifty losing 3.78%.

The mayhem prolongs on D-street as the rise is sold aggressively by traders; the surpass of the resistance zone at 17,129-17,190 will be the key for the bulls to come back in the game.

The resistance turns support in the range of 16,680-16,775 will be the space for bulls to protect the medium-term trend.

As we step into the October series, the IT and Pharma sector can be the Sector of the Month.

Brijesh Bhatia
Research Analyst, Fast Profit Report
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