Nifty – Err on the side of Caution
As highlighted in the video on 14th October for the Diwali target of 17,800 on Nifty, we almost hit it! Video
After the stellar rally from ~17,000 levels to ~17,800 levels, traders should not start tossing caution to the winds and gambling everything they earned.
The Bearish Harmonic
The index is approaching the bearish bat pattern's probable reversal zone (PRZ) at 17,890-17,945.
The reversal from the PRZ can take the index below 17,500 levels while the pattern would negate above 18,100 levels.
As a trader, I suggest booking profits on index longs around 17,900 levels.
#Nifty
#KeepItSimple
As highlighted in the video on 14th October for the Diwali target of 17,800 on Nifty, we almost hit it! Video
After the stellar rally from ~17,000 levels to ~17,800 levels, traders should not start tossing caution to the winds and gambling everything they earned.
The Bearish Harmonic
The index is approaching the bearish bat pattern's probable reversal zone (PRZ) at 17,890-17,945.
The reversal from the PRZ can take the index below 17,500 levels while the pattern would negate above 18,100 levels.
As a trader, I suggest booking profits on index longs around 17,900 levels.
#Nifty
#KeepItSimple
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BankNifty - The Bearish Patterns 📉
The index is reversing after completing the Bearish Bat Harmonic pattern at ~41,500.
The bearish belt-hold candlestick pattern on the hourly chart confirms the reversal.
Traders can look for a short-on-rise strategy till 41,630 is not taken out by bulls.
(CMP-41,200)
#BankNifty
#KeepItSimple
The index is reversing after completing the Bearish Bat Harmonic pattern at ~41,500.
The bearish belt-hold candlestick pattern on the hourly chart confirms the reversal.
Traders can look for a short-on-rise strategy till 41,630 is not taken out by bulls.
(CMP-41,200)
#BankNifty
#KeepItSimple
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The index opened higher but ended in red after the Muhurat Trading; Nifty ended at 17,656 losing 0.42%.
The multiple bearish candlestick patterns are witnessed on the daily chart – Bearish Belt Hold and Bearish Engulfing signaling the reversal on cards.
As per Astro analysis, the solar eclipse is marked as the reversal day. The bearish candlestick duo adds fuel to Astro analysis.
The bearish bat harmonic pattern is visible on the short-term chart of Bank Nifty indicating the bearish expiry on Thursday. Read here
Infra is likely to be the Sector of the Month for November. I decoded the chart. Watch here
Brijesh Bhatia
Research Analyst, Fast Profit Report
The multiple bearish candlestick patterns are witnessed on the daily chart – Bearish Belt Hold and Bearish Engulfing signaling the reversal on cards.
As per Astro analysis, the solar eclipse is marked as the reversal day. The bearish candlestick duo adds fuel to Astro analysis.
The bearish bat harmonic pattern is visible on the short-term chart of Bank Nifty indicating the bearish expiry on Thursday. Read here
Infra is likely to be the Sector of the Month for November. I decoded the chart. Watch here
Brijesh Bhatia
Research Analyst, Fast Profit Report
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Forwarded from Equitymaster
This Diwali week, I invested in... (Check all that apply)
Final Results
75%
Equities
14%
Equity Funds
4%
Global Equities
6%
FDs / Bonds
3%
Debt Funds
20%
Gold / Silver
4%
Property
2%
Cryptos
6%
Others
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Fast Profits Daily
Nifty – Err on the side of Caution As highlighted in the video on 14th October for the Diwali target of 17,800 on Nifty, we almost hit it! Video After the stellar rally from ~17,000 levels to ~17,800 levels, traders should not start tossing caution to the…
SGX Nifty indicating the opening around 17,900.
The PRZ of 17,890-17,945 will be interesting to watch in the first hour.
Bulls needs to be cautious in this range. Any bearish action can take index towards 17,500 levels.
Derivative Structure signals the major hurdle at 18,000 levels.
#ExpiryDay volatility is expected and both side swings can be on cards.
#Nifty
#KeepItSimple
The PRZ of 17,890-17,945 will be interesting to watch in the first hour.
Bulls needs to be cautious in this range. Any bearish action can take index towards 17,500 levels.
Derivative Structure signals the major hurdle at 18,000 levels.
#ExpiryDay volatility is expected and both side swings can be on cards.
#Nifty
#KeepItSimple
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Fast Profits Daily
PSU Bank Index - Following the Footsteps of Bank Nifty The festive season has begun for bulls as benchmark NSE Nifty and the Bank Nifty index reclaimed 17,500 and 40,000 level, respectively. As we highlighted yesterday, the Bank Nifty formed a breakout from…
Updated Chart: PSU BANK - A Quick 10% Rally 📈
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The festive mood keeps the market in the range on expiry day; Nifty hovers around 17,700 and ends at 17,736 gaining 0.46%.
The bearish belt hold and the bearish engulfing high of 17,811 is yet to be taken out for bullish momentum to prolong.
Midcap Index should be on your watch list as it breaks out of the resistance zone and the falling trendline at 31,200.
Brijesh Bhatia
Research Analyst, Fast Profit Report
The bearish belt hold and the bearish engulfing high of 17,811 is yet to be taken out for bullish momentum to prolong.
Midcap Index should be on your watch list as it breaks out of the resistance zone and the falling trendline at 31,200.
Brijesh Bhatia
Research Analyst, Fast Profit Report
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Nifty - First Day, First Show 📈
Hey Bulls, It's Friday and the new series begins with BREAKOUT.
The series of falling trendline breakouts is visible in the rally from ~17,000 levels.
The First Day - First Show on Friday opening witness the fresh bullish breakout at 17,760 and heading northwards.
On the daily chart, the bearish candlestick pattern high of 17,811 will be the lucky break for the resumption of bullish momentum.
The break above 17,815-17,832 will trigger the target of 17,900+ levels on an intraday basis.
Bulls should keep a note of bearish bat completion ~17,945 may come into play at higher levels.
(CMP-17,795)
#Nifty
#KeepItSimple
Hey Bulls, It's Friday and the new series begins with BREAKOUT.
The series of falling trendline breakouts is visible in the rally from ~17,000 levels.
The First Day - First Show on Friday opening witness the fresh bullish breakout at 17,760 and heading northwards.
On the daily chart, the bearish candlestick pattern high of 17,811 will be the lucky break for the resumption of bullish momentum.
The break above 17,815-17,832 will trigger the target of 17,900+ levels on an intraday basis.
Bulls should keep a note of bearish bat completion ~17,945 may come into play at higher levels.
(CMP-17,795)
#Nifty
#KeepItSimple
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Sector to Watch for Next Week
2022 has been one of the volatile years for Indian markets as well as one of the best outperforming indexes globally.
Amid all the volatility, we are just a few per cent away from hitting the new all-time high while most of the global indices are trading at 52-week lows.
Crude Oil is one commodity which has kept most countries on their toes due to major swings from $65 to $129 and back to $80.
One index which dance to the tune of crude oil prices is the Energy index.
Energy Index – Technical Pattern
On the weekly bar chart, the index is trending in a symmetrical triangle pattern with a bullish trend.
While on P&F daily chart 0.15% X 3, index broke out of the consolidation zone confirms resumption of bullish trend.
Energy stocks should on the trader’s watchlist for next week.
Constituents
Reliance Ind - 31.30%
NTPC Ltd - 13.29%
Power Grid - 11.23%
ONGC - 10.97%
BPCL - 9.89%
IOC - 8%
GAIL - 5.61%
HPCL - 4.95%
Tata Power - 2.45%
Adani Transmission - 2.29%
(CMP-26,493)
2022 has been one of the volatile years for Indian markets as well as one of the best outperforming indexes globally.
Amid all the volatility, we are just a few per cent away from hitting the new all-time high while most of the global indices are trading at 52-week lows.
Crude Oil is one commodity which has kept most countries on their toes due to major swings from $65 to $129 and back to $80.
One index which dance to the tune of crude oil prices is the Energy index.
Energy Index – Technical Pattern
On the weekly bar chart, the index is trending in a symmetrical triangle pattern with a bullish trend.
While on P&F daily chart 0.15% X 3, index broke out of the consolidation zone confirms resumption of bullish trend.
Energy stocks should on the trader’s watchlist for next week.
Constituents
Reliance Ind - 31.30%
NTPC Ltd - 13.29%
Power Grid - 11.23%
ONGC - 10.97%
BPCL - 9.89%
IOC - 8%
GAIL - 5.61%
HPCL - 4.95%
Tata Power - 2.45%
Adani Transmission - 2.29%
(CMP-26,493)
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Dear Equitymaster Premium Subscriber,
We have released the Weekly Technical Private Briefing on "Festive Demand Resumes Bullish Trend in Auto Stocks"
In this edition, I have analyzed the charts of Auto Index technical patterns as well as "The Trader's Compass for Upcoming Week - Nifty50 & BankNifty"
Just open your mailbox to read in detail.
Regards,
Brijesh Bhatia.
We have released the Weekly Technical Private Briefing on "Festive Demand Resumes Bullish Trend in Auto Stocks"
In this edition, I have analyzed the charts of Auto Index technical patterns as well as "The Trader's Compass for Upcoming Week - Nifty50 & BankNifty"
Just open your mailbox to read in detail.
Regards,
Brijesh Bhatia.
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