The truncated week witnessed profit bookings on last day of the week; Nifty ends the week at 16,450 losing 0.5%.
Nifty tested the breakout level of 16,350 and rallied higher. The 16,150-16,350 zone will act as major support for next week.
Large caps are the flavor of the month and it is likely to continue in next week; energy and IT will be on my watchlist.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Nifty tested the breakout level of 16,350 and rallied higher. The 16,150-16,350 zone will act as major support for next week.
Large caps are the flavor of the month and it is likely to continue in next week; energy and IT will be on my watchlist.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Fast Profits Daily
Bitcoin - Is $28,000 the bottom for H2-2021? The bitcoin (BTCUSD) has formed the Spring / Shakeout low of $28,600 in June 2021 as per Wyckoff Theory. After posting the low of $29,296 in July 2021, it marked as Last Point of Support (LPS) and trading above…
Bitcoin - Above $50,000
In June 2021 when Bitcoin was trading around $32,000, I have posted chart of an accumulation as per Wyckoff theory.
I posted an updated chart on 26th July 2021 indicating the bottom for H2-2021 when it was trading around $36,500 as confirmation of bottoming technical structure.
Today, it has crossed $50,000 mark giving the return of more than 50%, and more to come...
The prices have now entered phase-E as per Wyckoff theory and I believe the bullish momentum to continue for cryptos.
#KeepItSimple
In June 2021 when Bitcoin was trading around $32,000, I have posted chart of an accumulation as per Wyckoff theory.
I posted an updated chart on 26th July 2021 indicating the bottom for H2-2021 when it was trading around $36,500 as confirmation of bottoming technical structure.
Today, it has crossed $50,000 mark giving the return of more than 50%, and more to come...
The prices have now entered phase-E as per Wyckoff theory and I believe the bullish momentum to continue for cryptos.
#KeepItSimple
Nifty opens gap-up at 16,592; ends on flat note at 16,496 gaining 0.28%.
Index retests the megaphone breakout; 16,260-16,300 will be decider levels for bulls.
The money flow from midcap and smallcap might continue for more couple of weeks; Nifty50 stocks should be on your watchlist.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Index retests the megaphone breakout; 16,260-16,300 will be decider levels for bulls.
The money flow from midcap and smallcap might continue for more couple of weeks; Nifty50 stocks should be on your watchlist.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Chart of the Day: Bank Nifty Futures - Ahead of Monthly Expiry
Bank Nifty has underperformed against the Nifty for last couple of expiry.
The technical setup on hourly chart of Bank Nifty Futures indicates the short covering rally can be on cards ahead of monthly expiry which is on 26th August 2021.
The high of 10 period Donchian Channel on hourly chart is placed at 35,401 which means, if high is taken out, the slope of channel will turn northwards for the first time after 21 bars.
Now this convince me that the breakout can be on cards as 21 is the Fibonacci number and Fibonacci time cycle breakouts are agile.
Adding to it, the Heikin Ashi candles are indicating an exhaustion to bearish momentum and bullish candles signals reversal.
The positive crossover on stochastic indicates the bullish momentum can accelerate above the breakout level.
The move above 35,401-35,415 can witness short covering rally.
#KeepItSimple
Bank Nifty has underperformed against the Nifty for last couple of expiry.
The technical setup on hourly chart of Bank Nifty Futures indicates the short covering rally can be on cards ahead of monthly expiry which is on 26th August 2021.
The high of 10 period Donchian Channel on hourly chart is placed at 35,401 which means, if high is taken out, the slope of channel will turn northwards for the first time after 21 bars.
Now this convince me that the breakout can be on cards as 21 is the Fibonacci number and Fibonacci time cycle breakouts are agile.
Adding to it, the Heikin Ashi candles are indicating an exhaustion to bearish momentum and bullish candles signals reversal.
The positive crossover on stochastic indicates the bullish momentum can accelerate above the breakout level.
The move above 35,401-35,415 can witness short covering rally.
#KeepItSimple
Fast Profits Daily - Intraday Versus Swing Trading
In this video, I'll show you the nuances between intraday and swing trading.
http://www.eqtm.in/Ec68K
In this video, I'll show you the nuances between intraday and swing trading.
http://www.eqtm.in/Ec68K
The all-time high saga continues on D-street as Nifty hits high of 16,712; ends at 16,634.65 gaining 0.06%.
August series belongs to large caps and profit bookings was witnessed in Midcaps and Smallcaps. But…
Midcap and Smallcap are taking support at 50DEMA and the bullish momentum is likely to resume from start of September.
Brijesh Bhatia
Research Analyst, Fast Profit Report
August series belongs to large caps and profit bookings was witnessed in Midcaps and Smallcaps. But…
Midcap and Smallcap are taking support at 50DEMA and the bullish momentum is likely to resume from start of September.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Chart of the Day: Nifty Energy Index
Nifty Energy Index is on the cusp of bullish breakout of horizontal trendline (black) and upper band of Bollinger Band (BB) which are placed in the zone of 19,900-19,950.
The short-term rounding bottom structure (red) indicates an accumulation of 2months after retracing from the highs of 21,000 mark.
The positive crossover of averages and moving above the integer line on MACD signals the bullish momentum.
The break of resistance zone and key psychological level of 20,000 can witness money flow into this sector.
#KeepItSimple
Nifty Energy Index is on the cusp of bullish breakout of horizontal trendline (black) and upper band of Bollinger Band (BB) which are placed in the zone of 19,900-19,950.
The short-term rounding bottom structure (red) indicates an accumulation of 2months after retracing from the highs of 21,000 mark.
The positive crossover of averages and moving above the integer line on MACD signals the bullish momentum.
The break of resistance zone and key psychological level of 20,000 can witness money flow into this sector.
#KeepItSimple
Nifty trends in a range on monthly expiry day; ends on flat note at 16,636.90.
Can we expect 17,000 in September series?
An improvement in breadth this week indicates the broader markets are strengthening the bullish move.
Midcap and Smallcaps are likely to come back with more strength taking indices to new high.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Can we expect 17,000 in September series?
An improvement in breadth this week indicates the broader markets are strengthening the bullish move.
Midcap and Smallcaps are likely to come back with more strength taking indices to new high.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Dow Jones @ demand zone
The fast and furious rally from 34,700 to 35,500 halted just at 88.60% Fibonacci retracement of previous fall.
The dip from 35,500 to 35,300 seems an excellent buying opportunity as it stands to be demand zone with multiple technical supports as:
1. Gap area.
2. 100HEMA
3. 27.60% and 38.20% Fibonacci retracement are placed in demand zone.
#KeepItSimple
The fast and furious rally from 34,700 to 35,500 halted just at 88.60% Fibonacci retracement of previous fall.
The dip from 35,500 to 35,300 seems an excellent buying opportunity as it stands to be demand zone with multiple technical supports as:
1. Gap area.
2. 100HEMA
3. 27.60% and 38.20% Fibonacci retracement are placed in demand zone.
#KeepItSimple
Nifty - Cup & Handle Breakout
It's a weekend and party on D-street as Nifty hits ATH of 16,712.60.
But the party needs to be harder as it breaks out of Cup & Handle Pattern.
Cup & Handle pattern is bullish pattern. The cup is formed in rounding structure while the handle is in the form of falling channel.
The breaks out of the pattern at 16,680 confirms the bullish momentum for next week.
#KeepItSimple #HappyTrading
It's a weekend and party on D-street as Nifty hits ATH of 16,712.60.
But the party needs to be harder as it breaks out of Cup & Handle Pattern.
Cup & Handle pattern is bullish pattern. The cup is formed in rounding structure while the handle is in the form of falling channel.
The breaks out of the pattern at 16,680 confirms the bullish momentum for next week.
#KeepItSimple #HappyTrading
The party continues on D-street as benchmark index Nifty hits new all-time high of 16,722 and ends at 16,705 gaining 0.41%.
Bulls will party harder as Nifty ends above the breakout of bullish cup and handle pattern. (Check chart here https://t.me/FastProfitsReport/165)
The last time bullish cup and handle breakout was visible in November 2020 at the breakout of 12,000, rest is the history.
Midcap and Smallcap are likely to come back strongly as market breadth improvise this week with approx. two advance against each decline.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Bulls will party harder as Nifty ends above the breakout of bullish cup and handle pattern. (Check chart here https://t.me/FastProfitsReport/165)
The last time bullish cup and handle breakout was visible in November 2020 at the breakout of 12,000, rest is the history.
Midcap and Smallcap are likely to come back strongly as market breadth improvise this week with approx. two advance against each decline.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Fast Profits Daily
Dow Jones @ demand zone The fast and furious rally from 34,700 to 35,500 halted just at 88.60% Fibonacci retracement of previous fall. The dip from 35,500 to 35,300 seems an excellent buying opportunity as it stands to be demand zone with multiple technical…
DowJones - Updated Chart
The demand zone is playing out well as we are witnessing reversal from gap area and multiple support levels.
The move above 35,500 will accelerate the bullish momentum to the new all-time high.
#KeepItSimple
The demand zone is playing out well as we are witnessing reversal from gap area and multiple support levels.
The move above 35,500 will accelerate the bullish momentum to the new all-time high.
#KeepItSimple
Fast Profits Daily
Nifty - Cup & Handle Breakout It's a weekend and party on D-street as Nifty hits ATH of 16,712.60. But the party needs to be harder as it breaks out of Cup & Handle Pattern. Cup & Handle pattern is bullish pattern. The cup is formed in rounding structure…
Nifty Bulls - Here we go....
An updated chart of Nifty breaking out of bullish cup and handle on Friday, and the new week starts with Bang Bang.
Bulls need to just ride the wave towards 17,000 marks.
#KeepItSimple
An updated chart of Nifty breaking out of bullish cup and handle on Friday, and the new week starts with Bang Bang.
Bulls need to just ride the wave towards 17,000 marks.
#KeepItSimple
Fast Profits Daily
Chart of the Day: Nifty Energy Index Nifty Energy Index is on the cusp of bullish breakout of horizontal trendline (black) and upper band of Bollinger Band (BB) which are placed in the zone of 19,900-19,950. The short-term rounding bottom structure (red)…
Nifty Energy Index is BREAKING OUT OF 62 DAYS FIB TIME CYCLE
Do not miss the bullish momentum in Energy Index which has just broken out of 62 days Fibonacci Time Cycle and key psychological level of 20,000 mark.
Attached an updated chart of the setup posted on 26th August 2021.
#KeepItSimple
Do not miss the bullish momentum in Energy Index which has just broken out of 62 days Fibonacci Time Cycle and key psychological level of 20,000 mark.
Attached an updated chart of the setup posted on 26th August 2021.
#KeepItSimple
Hurrah! Nifty at all-time high of 16,951 and just shy of another milestone of 17,000; ends the day at 16,931 gaining 1.35%.
We highlighted on Friday regarding the cup & handle breakout on Nifty chart, and here we have a bullish day gaining 225 points.
The healthy market breadth strengthens the bullish momentum.
SEBI’s new margin rule for intraday traders will be 100% effective from 1st September 2021 which means the volatility and volumes may decrease. Traders need to be vigilant on to their positions to avoid penalties.
Brijesh Bhatia
Research Analyst, Fast Profit Report
We highlighted on Friday regarding the cup & handle breakout on Nifty chart, and here we have a bullish day gaining 225 points.
The healthy market breadth strengthens the bullish momentum.
SEBI’s new margin rule for intraday traders will be 100% effective from 1st September 2021 which means the volatility and volumes may decrease. Traders need to be vigilant on to their positions to avoid penalties.
Brijesh Bhatia
Research Analyst, Fast Profit Report
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An income stream that could potentially keep pumping money into your bank account month after month… irrespective of whether you go to work or not…
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It’s one of the most profitable trading system you will ever see.
It’s a system that could give you an edge over 90% of traders out there.
By using this system you could potentially add tens of thousands of rupees to your income… every month…
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Strategies & Techniques:
You analyze trades, tighten your rules, learn new techniques, develop your system, do more research, and test new strategies.
Despite all of that work, the bleeding continues.
You try again and again, but you still don’t get anywhere because the answer doesn’t lie in what you know about trading.
Trading Plan & Execution:
Think about your most costly errors in execution.
Do they include any of the following?
* Forcing mediocre trade setups
* Hesitating on entries
* Exiting trades too early
* Chasing the market price up and down
* Moving a stop too soon
* Moving your pro fit target before it hits
* Talking yourself out of a good trade
Often when these mistakes occur, you’re unable to stop yourself from making them.
Your emotions get in the way, and they have the power to force your worst impulses.
#KeepItSimple
You analyze trades, tighten your rules, learn new techniques, develop your system, do more research, and test new strategies.
Despite all of that work, the bleeding continues.
You try again and again, but you still don’t get anywhere because the answer doesn’t lie in what you know about trading.
Trading Plan & Execution:
Think about your most costly errors in execution.
Do they include any of the following?
* Forcing mediocre trade setups
* Hesitating on entries
* Exiting trades too early
* Chasing the market price up and down
* Moving a stop too soon
* Moving your pro fit target before it hits
* Talking yourself out of a good trade
Often when these mistakes occur, you’re unable to stop yourself from making them.
Your emotions get in the way, and they have the power to force your worst impulses.
#KeepItSimple
Chart of the Day: NiftyIT Index - Buy in an OVERBOUGHT Zone
Technical Analysis is the game of probability and oscillators play a key role, even though they are laggard.
Each oscillator reacts differently and we are looking at Relative Strength Index (RSI) on daily chart of Nifty IT Index.
We learned RSI as an overbought zone above 70 and oversold below 30. It means you avoid buying above 70 and selling below 30.
But, do they work in the same manner what we learnt?
On daily chart of Nifty IT, when RSI test 85 levels which is termed as an extreme overbought zone, we haven't seen index correcting in price.
Instead, the rally is a smooth bullish ride when RSI is 85.
Not once or twice, it has been proved for five times in last decade and this is the sixth time RSI is above 85 and IT index at all-time high.
Historically, this structure has supported bulls.
Will you buy Nifty IT index at CMP-34,109?
#KeepItSimple
Technical Analysis is the game of probability and oscillators play a key role, even though they are laggard.
Each oscillator reacts differently and we are looking at Relative Strength Index (RSI) on daily chart of Nifty IT Index.
We learned RSI as an overbought zone above 70 and oversold below 30. It means you avoid buying above 70 and selling below 30.
But, do they work in the same manner what we learnt?
On daily chart of Nifty IT, when RSI test 85 levels which is termed as an extreme overbought zone, we haven't seen index correcting in price.
Instead, the rally is a smooth bullish ride when RSI is 85.
Not once or twice, it has been proved for five times in last decade and this is the sixth time RSI is above 85 and IT index at all-time high.
Historically, this structure has supported bulls.
Will you buy Nifty IT index at CMP-34,109?
#KeepItSimple
👍1
After consolidating in June and July, the bulls were out of cattle shed and roaring in August with gains of 8.69% on Nifty, the highest monthly gains so far in 2021.
The fastest 1000 points rally in Nifty is from 16,000 to 17,000 in just 28 days; hits the high of 17,153 before ending the day at 17,132 gaining 1.2%.
The cup and handle technical pattern we highlighted on Friday hits the target of 17,120 as per pattern; but the bullish momentum will continue on Nifty. https://t.me/FastProfitsReport/165
The fear of market breadth in last few weeks witnessed tremendous improvement in favour of bulls as two stocks advance against each decline in last few trading sessions.
As per seasonality analysis, September is the month of bulls as 14 years have been positive against 11 negative with an average gains of 1.07% for last 25years.
Brijesh Bhatia
Research Analyst, Fast Profit Report
The fastest 1000 points rally in Nifty is from 16,000 to 17,000 in just 28 days; hits the high of 17,153 before ending the day at 17,132 gaining 1.2%.
The cup and handle technical pattern we highlighted on Friday hits the target of 17,120 as per pattern; but the bullish momentum will continue on Nifty. https://t.me/FastProfitsReport/165
The fear of market breadth in last few weeks witnessed tremendous improvement in favour of bulls as two stocks advance against each decline in last few trading sessions.
As per seasonality analysis, September is the month of bulls as 14 years have been positive against 11 negative with an average gains of 1.07% for last 25years.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Nifty ends in red after three consecutive bullish days as European indices opens on negative note; ends at 17,076 losing 0.33%.
The psychological resistance of 17,000 mark will act as support now. Index traders can take an opportunity to take longs in the zone of 16,978-17,023.
Nifty Midcap index to Nifty100 ratio chart has just turned northwards indicating the Nifty Midcap index is likely to outperform against Nifty100 in September. Trader and investors need to focus back on Midcaps which are outperforming on 3months basis.
Brijesh Bhatia
Research Analyst, Fast Profit Report
The psychological resistance of 17,000 mark will act as support now. Index traders can take an opportunity to take longs in the zone of 16,978-17,023.
Nifty Midcap index to Nifty100 ratio chart has just turned northwards indicating the Nifty Midcap index is likely to outperform against Nifty100 in September. Trader and investors need to focus back on Midcaps which are outperforming on 3months basis.
Brijesh Bhatia
Research Analyst, Fast Profit Report