Index hovers around key psychological mark of 18,000; option writers are having gala time as Nifty ends at 18,017 losing 0.15%.
Derivative structure of 11th Nov. 2021 expiry suggests range of 17,874-18,139 for tomorrow.
One sector which is coming out of Covid bubble and can be good investment in short to medium term is Hotels. Watch video here to know more https://www.youtube.com/watch?v=ug2UXARPYdY
Brijesh Bhatia
Research Analyst, Fast Profit Report
Derivative structure of 11th Nov. 2021 expiry suggests range of 17,874-18,139 for tomorrow.
One sector which is coming out of Covid bubble and can be good investment in short to medium term is Hotels. Watch video here to know more https://www.youtube.com/watch?v=ug2UXARPYdY
Brijesh Bhatia
Research Analyst, Fast Profit Report
Nifty Technical Setup on Weekly Expiry Day: 17,900 will be crucial
Post its breakout of falling trendline (black), bulls failed to strengthen the momentum and the lacklustre move in last few trading sessions between 17,950-18,100 seems the bulls team squandered the good opportunity. Still there are some hopes for bulls.....
Index is trading in the rising wedge structure with support line placed at 17,910 right near the 200HEMA (Hourly Exponential Moving Average) which is placed at 17,912.
The break below 17,880 will confirm the resumption in bearish move while the break above 18,257 will negate the structure.
As an option writers on expiry day, 17900PE will be crucial to watch as the current OI is ~76K contracts. If incase, the market hold 17,900-17,930 zone, we may expect addition in 17900PE during the day.
#KeepItSimple
Post its breakout of falling trendline (black), bulls failed to strengthen the momentum and the lacklustre move in last few trading sessions between 17,950-18,100 seems the bulls team squandered the good opportunity. Still there are some hopes for bulls.....
Index is trading in the rising wedge structure with support line placed at 17,910 right near the 200HEMA (Hourly Exponential Moving Average) which is placed at 17,912.
The break below 17,880 will confirm the resumption in bearish move while the break above 18,257 will negate the structure.
As an option writers on expiry day, 17900PE will be crucial to watch as the current OI is ~76K contracts. If incase, the market hold 17,900-17,930 zone, we may expect addition in 17900PE during the day.
#KeepItSimple
Fast Profits Daily
Updated Chart: Bank Nifty
Bank Nifty below Minor Support Level of 39,000 - 38,400-38,100 will be key for bulls
Fast Profits Daily
Nifty Technical Setup on Weekly Expiry Day: 17,900 will be crucial Post its breakout of falling trendline (black), bulls failed to strengthen the momentum and the lacklustre move in last few trading sessions between 17,950-18,100 seems the bulls team squandered…
Nifty - Updated Chart
The bears lead on the expiry day; ends Nifty at 17,873 losing 0.8%.
Nifty took support at 61.80% Fibonacci retracement of 17,610 to 18,112 at 17,795 and also at 50DMA; the move above 18,038 will confirm the bullish momentum.
Bank Nifty too is at the support of horizontal trendline and 50DMA; 38,100 will be crucial for bulls to hold for the recent momentum.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Nifty took support at 61.80% Fibonacci retracement of 17,610 to 18,112 at 17,795 and also at 50DMA; the move above 18,038 will confirm the bullish momentum.
Bank Nifty too is at the support of horizontal trendline and 50DMA; 38,100 will be crucial for bulls to hold for the recent momentum.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Bank Nifty: The Best RR Bullish Technical Setup
Bank Nifty has corrected over 8% from its ATH of 41,829 to ~38,400 levels.
Index is trading at the crucial support zone offering the best Risk:Reward (RR) trade setup to bulls.
a. Horizontal Trendline (red) breakout has been retest at 38,400.
b. 7 months rising trendline (black) has strong support at 38,000.
c. The 50DEMA is placed at 38,387 is acting as support.
Additionally, the recent dip is 50% Fibonacci retracement of 34,817-41,829 at 38,328.
If bulls hold the support zone of 38,000-38,400, we may expect the move above 40,000 levels.
The structure fails if index close below 37,779.
(CMP-38,500)
#KeepItSimple
Bank Nifty has corrected over 8% from its ATH of 41,829 to ~38,400 levels.
Index is trading at the crucial support zone offering the best Risk:Reward (RR) trade setup to bulls.
a. Horizontal Trendline (red) breakout has been retest at 38,400.
b. 7 months rising trendline (black) has strong support at 38,000.
c. The 50DEMA is placed at 38,387 is acting as support.
Additionally, the recent dip is 50% Fibonacci retracement of 34,817-41,829 at 38,328.
If bulls hold the support zone of 38,000-38,400, we may expect the move above 40,000 levels.
The structure fails if index close below 37,779.
(CMP-38,500)
#KeepItSimple
The markets traded in the range ahead of FM Niramala Sitharaman’s meeting with CM’s today; Nifty ends at 18,109 gaining 0.04%.
Nifty took support at 50DEMA and forms higher high – higher low structure indicating bulls are in control as per Dow Theory.
As we are approaching Christmas in few weeks, Bank Nifty setup looks exciting for year end and bullish momentum may prolong in the first quarter of 2022. To know the technical structure; watch Fast Profits video tomorrow https://www.youtube.com/channel/UCuLyyxpAOqEsOYiNMapZNKg
Brijesh Bhatia
Research Analyst, Fast Profit Report
Nifty took support at 50DEMA and forms higher high – higher low structure indicating bulls are in control as per Dow Theory.
As we are approaching Christmas in few weeks, Bank Nifty setup looks exciting for year end and bullish momentum may prolong in the first quarter of 2022. To know the technical structure; watch Fast Profits video tomorrow https://www.youtube.com/channel/UCuLyyxpAOqEsOYiNMapZNKg
Brijesh Bhatia
Research Analyst, Fast Profit Report
Fast Profits Daily - Bank Nifty Bullish Call
In this video, I’ll share my thoughts on the Bank Nifty.
http://www.eqtm.in/n7D6J
In this video, I’ll share my thoughts on the Bank Nifty.
http://www.eqtm.in/n7D6J
Nifty hovers around 18,000 levels in the truncated week; ends the day at 17,999 losing 0.61%.
Index took support at 61.80% Fibonacci retracement and 2000HEMA; the move above 18,042 will confirm the resumption in bullish momentum.
Most of the benchmark indices like Nifty500, Midcap and Smallcap indices are trading around their 50DEMA signaling the bulls are in control of the trend.
Bank Nifty is trading at crucial support level and probably the best risk to reward technical setup for bulls. Watch the technical pattern here https://www.youtube.com/watch?v=8JBBiOKywFQ
Brijesh Bhatia
Research Analyst, Fast Profit Report
Index took support at 61.80% Fibonacci retracement and 2000HEMA; the move above 18,042 will confirm the resumption in bullish momentum.
Most of the benchmark indices like Nifty500, Midcap and Smallcap indices are trading around their 50DEMA signaling the bulls are in control of the trend.
Bank Nifty is trading at crucial support level and probably the best risk to reward technical setup for bulls. Watch the technical pattern here https://www.youtube.com/watch?v=8JBBiOKywFQ
Brijesh Bhatia
Research Analyst, Fast Profit Report
Nifty - Bulls grab the gap-down!
Index started the day with the gap-down to ~17,900 levels but find the support of triangle breakout on 0.15% X 3 on 15mins Point and Figure chart.
The retest of breakout offers an excellent RR for traders.
The support line is placed at 17,838 and till it is held, bulls are in control of the momentum.
Come-On Bulls lets take market back to 18,200 levels.
#KeepItSimple
Index started the day with the gap-down to ~17,900 levels but find the support of triangle breakout on 0.15% X 3 on 15mins Point and Figure chart.
The retest of breakout offers an excellent RR for traders.
The support line is placed at 17,838 and till it is held, bulls are in control of the momentum.
Come-On Bulls lets take market back to 18,200 levels.
#KeepItSimple
Fast Profits Daily - Using AI in Your Trading System
In this video, I'll share my views on learning artificial intelligence tools for trading.
http://www.eqtm.in/n8BXm
In this video, I'll share my views on learning artificial intelligence tools for trading.
http://www.eqtm.in/n8BXm
The last hour bears attack ends Nifty near day low and below 17,900 mark at 17,898 losing 0.56%.
Index is trading at the support of rising trendline placed at 17,864 on short term chart.
The Bullish Reciprocal AB=CD Harmonic pattern is visible on hourly chart of Nifty with reversal at 17,880. The reversal from 17,860-17,900 tomorrow will be bulls expiry around 17,960-18,000 zone.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Index is trading at the support of rising trendline placed at 17,864 on short term chart.
The Bullish Reciprocal AB=CD Harmonic pattern is visible on hourly chart of Nifty with reversal at 17,880. The reversal from 17,860-17,900 tomorrow will be bulls expiry around 17,960-18,000 zone.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Nifty hits two months lowest level of 17,280; ends at 17,416 losing 1.96%.
On daily scale of Nifty, Relative Strength Index (RSI) 14 period has slipped to 35 for the first time since September 2020.
Along with RSI around 35 and 89DEMA on price which is placed at 17,253, the support plays well for bulls.
As we are into an expiry week, the volatility is likely to increase and MTM may pressure traders positions.
Brijesh Bhatia
Research Analyst, Fast Profit Report
On daily scale of Nifty, Relative Strength Index (RSI) 14 period has slipped to 35 for the first time since September 2020.
Along with RSI around 35 and 89DEMA on price which is placed at 17,253, the support plays well for bulls.
As we are into an expiry week, the volatility is likely to increase and MTM may pressure traders positions.
Brijesh Bhatia
Research Analyst, Fast Profit Report
The dip and reversal of 2% from lows on D-street keeps traders in-doubt ahead of monthly expiry; Nifty ends the day above 17,500 at 17,503 gaining 0.5%.
Midcap and Small cap index outperformed against Nifty by gaining 1.76% and 1.91% respectively.
Nifty forms Bullish AB=CD indicating the lows if held, bulls can reclaim 18,000 levels.
We believe the Metals stocks are at bargain buying levels. To know more, watch my video here https://www.youtube.com/watch?v=ecnUmJujPWo&t=2s
Brijesh Bhatia
Research Analyst, Fast Profit Report
Midcap and Small cap index outperformed against Nifty by gaining 1.76% and 1.91% respectively.
Nifty forms Bullish AB=CD indicating the lows if held, bulls can reclaim 18,000 levels.
We believe the Metals stocks are at bargain buying levels. To know more, watch my video here https://www.youtube.com/watch?v=ecnUmJujPWo&t=2s
Brijesh Bhatia
Research Analyst, Fast Profit Report
Chart of the Day: Dow Jones Industrial Average (DJIA)
Since it all-time high of 36,565, index retraced by 2.75% retesting the previous breakout level of 35,600-35,500 zone.
The technical structure is bullish.
1. Index retested the breakout zone and turning northwards.
2. It took support at 50DEMA which is placed at 35,494.
3. Bullish AB=CD harmonic reversal pattern is completed at 35,598 and price turning higher indicates the bull case scenario.
4. The 38.20% Fibonacci retracement of 33,785 to 35,565 is placed at 35,503 and acting as a support zone.
5. Stochastic has slipped into oversold territory and the bullish crossover signals the momentum is back with bulls.
The confluence of supports and reversal pattern indicates the Dow Jones is getting ready to hit new all-time high.
#KeepItSimple
Since it all-time high of 36,565, index retraced by 2.75% retesting the previous breakout level of 35,600-35,500 zone.
The technical structure is bullish.
1. Index retested the breakout zone and turning northwards.
2. It took support at 50DEMA which is placed at 35,494.
3. Bullish AB=CD harmonic reversal pattern is completed at 35,598 and price turning higher indicates the bull case scenario.
4. The 38.20% Fibonacci retracement of 33,785 to 35,565 is placed at 35,503 and acting as a support zone.
5. Stochastic has slipped into oversold territory and the bullish crossover signals the momentum is back with bulls.
The confluence of supports and reversal pattern indicates the Dow Jones is getting ready to hit new all-time high.
#KeepItSimple
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Fast Profits Daily - The One Sector to Avoid in 2022
For 2022 this is one sector I'm not Bullish on.
http://www.eqtm.in/Wo56Q
For 2022 this is one sector I'm not Bullish on.
http://www.eqtm.in/Wo56Q
The bulls surrender all the gains in the last hour to end the day for Nifty at 17,415 losing 0.5%.
The market breadth was 3:2 with 3 stocks falling for every 2 rising stocks. An improvement in last couple of trading days indicates the bearish momentum might take a pause.
The monthly expiry day is likely to be in the range of 17,300-17,500 for Nifty and 36,970-37,674 for Bank Nifty.
One Sector which you should avoid investing in 2022 is Pharma sector. Watch here to know more. https://www.youtube.com/watch?v=LAuvDeo94AU
Brijesh Bhatia
Research Analyst, Fast Profit Report
The market breadth was 3:2 with 3 stocks falling for every 2 rising stocks. An improvement in last couple of trading days indicates the bearish momentum might take a pause.
The monthly expiry day is likely to be in the range of 17,300-17,500 for Nifty and 36,970-37,674 for Bank Nifty.
One Sector which you should avoid investing in 2022 is Pharma sector. Watch here to know more. https://www.youtube.com/watch?v=LAuvDeo94AU
Brijesh Bhatia
Research Analyst, Fast Profit Report
The D-street bleeds red as Nifty fell by 4% this week; the most since January 2021. Index ends at 17,026 losing 4.16% for the week.
The rising channel structure on weekly scale indicates the test of lower band at ~16,800. Also the Deep Crab Harmonic pattern completes around the same levels.
On weekly chart of Nifty, the negative crossover on MACD indicates the bears are in control of the trend. The trend change can only happen on a close above 17,516.
Brijesh Bhatia
Research Analyst, Fast Profit Report
The rising channel structure on weekly scale indicates the test of lower band at ~16,800. Also the Deep Crab Harmonic pattern completes around the same levels.
On weekly chart of Nifty, the negative crossover on MACD indicates the bears are in control of the trend. The trend change can only happen on a close above 17,516.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Fast Profits Daily
The D-street bleeds red as Nifty fell by 4% this week; the most since January 2021. Index ends at 17,026 losing 4.16% for the week. The rising channel structure on weekly scale indicates the test of lower band at ~16,800. Also the Deep Crab Harmonic pattern…
Nifty - Channel & Harmonic Pattern @ 16,800
What an intraday move!
The 6% intraday move during the day is an alarm for traders, stay cautious. Nifty closes below 17,000 mark at 16,983 losing 0.41%.
On daily scale, Nifty has formed doji on Monday followed by cross of high on Tuesday indicates the reversal can be on cards.
The rising channel and bullish harmonic reversal structure indicates the low of 16,782 will be crucial for the recent trend.
Looking at the volatility, sometimes the saving is more important than making money. Traders can reduce the position and avoid the losses.
Brijesh Bhatia
Research Analyst, Fast Profit Report
The 6% intraday move during the day is an alarm for traders, stay cautious. Nifty closes below 17,000 mark at 16,983 losing 0.41%.
On daily scale, Nifty has formed doji on Monday followed by cross of high on Tuesday indicates the reversal can be on cards.
The rising channel and bullish harmonic reversal structure indicates the low of 16,782 will be crucial for the recent trend.
Looking at the volatility, sometimes the saving is more important than making money. Traders can reduce the position and avoid the losses.
Brijesh Bhatia
Research Analyst, Fast Profit Report