Nifty - Buying the Weakness @ Reversal Pattern

After the sell-off from 18,350 to 16,836, we witness the sharp recovery in Tuesday's trading session forming bullish piercing candlestick pattern on daily chart.

On intraday charts (15mins), the multiple bullish harmonic patterns are visible with the reversal zone of 16,912-16,936. Index hit the low of 16,927 and showing signs of reversal from mentioned zone. The patterns negates only on the breach of 16,825.

Well, the index may continue to remain volatile as India VIX trades above the 8months high of 24. An icing on cake is the monthly expiry day today which can bring more volatility.

I believe in this reversal process, Bank Nifty can be an outperformer as we step into the Union Budget week. Watch my video here on "Why I believe Bank Nifty will outperform Nifty & Buy Bank Nifty ahead of Union Budget"
https://www.youtube.com/watch?v=Bj43Ex2zXws&t=1s

(CMP-16955)
#KeepItSimple

Updated Chart: Nifty held the low of 16,836 and heading higher - Above 17,175 now....More to come Bulls 📈

Banking stocks are trading exactly as we highlighted.....Pyramiding is the key now.

The Jan F&O series starts with bang-bang by bulls but misses to surpass the all-time high of 18,606; closes on a flat note for benchmark index Nifty at 17,110 losing 0.5% (expiry-on-expiry).

India VIX hits 8months high on the back of Fed minutes and India’s Union Budget scheduled next week. It may prolong till Tuesday or Wednesday.

What should traders do ahead of Union Budget?

The trade setup is discussed in this video – Watch here https://www.youtube.com/watch?v=Bj43Ex2zXws&t=3s

The multiple bullish harmonic patterns are visible on short-term chart of Nifty followed by bullish piercing candlestick pattern. Watch chart here https://t.me/FastProfitsReport/376

An inside bar or bullish harami candlestick pattern is visible on daily chart of most of the benchmark indices; the cross of today’s high confirms the bullish reversal.

Brijesh Bhatia
Research Analyst, Fast Profit Report

Bank Nifty is outperforming Nifty by huge margin ahead of Union Budget.

Watch the trading setup on Bank Nifty ☝🏻

The D-street ends in red for consecutive weeks; Nifty lost 2.92% to end at 17,101 ahead of Union Budget week.

The bullish harmonic pattern followed by bullish candlestick pattern indicates the recent low 16,836 may hold strong for Union Budget.

Bank Nifty is consistently outperforming against the Nifty in January signalling an outperformance may prolong post Union Budget like it did in 2021. Watch video here https://www.youtube.com/watch?v=Bj43Ex2zXws&t=5s

Brijesh Bhatia
Research Analyst, Fast Profit Report

Fast Profits Daily - Buy these Stocks After the Union Budget

Watch out for these stocks during the union budget.

http://www.eqtm.in/Qb9y3

Bulls are back at open but market trades in a range ahead of Union Budget; Nifty gains 1.4% to settle at 17,339.

The bulls are protecting 17,000 levels but need to surpass 50DMA convincingly which is placed at 17,427 for the momentum to head towards 18,000 levels.

The slope of Relative Strength Index is turning northwards from buying zone indicating the bulls are having an upper hand on bullish momentum.

Investors and Traders should grab an opportunity in this dip and buy these stocks post budget. Watch the stock list here https://www.youtube.com/watch?v=BZgyweJeB3Y&t=2s

Brijesh Bhatia
Research Analyst, Fast Profit Report

The momentum takes a pause on weekly derivatives expiry day; Nifty tests 17,500, ends at 17,560 losing 1.24%.

Nifty reverse from the 61.80% Fibonacci retracement of 18,350 to 16,836 as heavy weights like HDFC, Infy, Tech Mahindra and Reliance plunge by 1-3%.

Banks continue to outperform over Nifty as the bullish head and shoulder pattern on the ratio chart indicates the longs in BankNifty. Index holds the key psychological level of 39,000; bulls are eyeing the momentum towards 40,000 levels.

Brijesh Bhatia
Research Analyst, Fast Profit Report

Fast Profits Daily - Is this the Beginning of the End for IT Stocks?

Is it time to sell your IT stocks? Let's find out...

http://www.eqtm.in/p6J9H

Fast Profits Daily - Fear is Taking Over D-Street

This is why fear has returned to Dalal Street.

http://www.eqtm.in/x9Z7K

The momentums is back in the bull’s court as Nifty takes support at psychological level of 17,000; ends at 17,463.80 gaining 1.14%.

The bullish Cypher harmonics pattern is visible on charts which targets the momentum towards 17,816-17,930 zone.

Metals index breaks 110days range and hits high of 6,001; on bulls radar for next couple of weeks.

Brijesh Bhatia
Research Analyst, Fast Profit Report

The volatile week ends on a negative note on D-street; Nifty ends at 17,374 losing 0.81% for the week.

An evening-star candlestick pattern is visible on daily chart of Nifty, trades in the symmetrical triangle pattern.

Index is likely to trade in the range of 17,000-17,650 in the next week; either side breakout can see volatility expansion.

Brijesh Bhatia
Research Analyst, Fast Profit Report

Nifty - The Valentine's Red Day

It's the bear's valentine gift to bull's as SGX indicates the negative opening of over 200pts.

Index is trading in symmetrical triangle structure with lower band support placed at 17,135 (marked black on chart).

Additionally, the trendline connected from the lows of December 2021 to January 2022 suggests the support at 17,040 (marked red on chart).

If bulls manage to hold the support zone, we may expect the momentum shifting back in the bull's favor for the romantic candlelight dinner on valentine's day.

Keep watch on 17,040-17,135 support band for the day.

The break below the support zone will accelerate the bearish momentum.

#KeepItSimple

Fast Profits Daily - Bull Market in Metal Stocks

This is why I'm still bullish on metal stocks.

http://www.eqtm.in/n9EZd