Fast Profits Daily
Nifty - Breakout Retest and Support Zone @ 17,080-17,150
Nifty - 17,100 to 17,280 🔥
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The bulls are back on D-street as Sensex and Nifty gain 0.85% and 0.73% respectively.
Banking stocks gain the most as it outperforms to lead the Nifty50 higher; BankNifty gained 1.56%.
The reversal from the breakout retest and gap in Nifty indicates the bulls are having an upper hand; the hurdle remains at 17,450 for bulls.
BankNifty breaks out of ascending triangle pattern at 39,650 signalling the target of 41,000 levels in the coming weeks. Watch the chart here https://t.me/FastProfitsReport/932
This sector should be on your watchlist as PSU Bank Index is on the verge of breakout at 3,085. https://t.me/FastProfitsReport/903
Brijesh Bhatia
Research Analyst, Fast Profit Report
Banking stocks gain the most as it outperforms to lead the Nifty50 higher; BankNifty gained 1.56%.
The reversal from the breakout retest and gap in Nifty indicates the bulls are having an upper hand; the hurdle remains at 17,450 for bulls.
BankNifty breaks out of ascending triangle pattern at 39,650 signalling the target of 41,000 levels in the coming weeks. Watch the chart here https://t.me/FastProfitsReport/932
This sector should be on your watchlist as PSU Bank Index is on the verge of breakout at 3,085. https://t.me/FastProfitsReport/903
Brijesh Bhatia
Research Analyst, Fast Profit Report
👍21❤5👎1
Fast Profits Daily
Nifty - Breakout Retest and Support Zone @ 17,080-17,150
Nifty - Come-on Bulls, Let's Break - 17,500
Index reversed from the support of gap and retesting the trendline breakout.
SGX Nifty indicating the opening above 17,400 @ 7:15am IST.
A move above the previous high, key psychological level and the CE writer's strike at 17,500 needs to be taken out for next round of bullish momentum.
I believe the bulls are charged to take it to my expected Target of 17,800. https://youtu.be/GboEA0wqGWc
Are you ready for 17,800?
#KeepItSimple
Index reversed from the support of gap and retesting the trendline breakout.
SGX Nifty indicating the opening above 17,400 @ 7:15am IST.
A move above the previous high, key psychological level and the CE writer's strike at 17,500 needs to be taken out for next round of bullish momentum.
I believe the bulls are charged to take it to my expected Target of 17,800. https://youtu.be/GboEA0wqGWc
Are you ready for 17,800?
#KeepItSimple
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Nifty - The Runaway Gap
The bears tried hard to protect the resistance area of 17,450, but the bulls managed to break it in style.
The Runaway Gap
As highlighted in the chart of Nifty yesterday, the trendline breakout, retest and northwards momentum indicated the bulls were in process of forming the base. Read here https://t.me/FastProfitsReport/931
With the gap-up opening above the resistance zone today, the bulls are invigorated and looking for more Diwali fireworks.
Since its opening, the first 90mins of markets just witnessed the one-way trend, that’s bullish.
If this gap-up and rally don’t break 17,300, the runaway gap can take Nifty to 17,800+ levels in the coming weeks.
The heavyweight #Reliance industries with 11% weightage have led the way for bulls ahead of its quarterly numbers out this week, can it take the index to 18,000+?
#Nifty
#KeepItSimple
The bears tried hard to protect the resistance area of 17,450, but the bulls managed to break it in style.
The Runaway Gap
As highlighted in the chart of Nifty yesterday, the trendline breakout, retest and northwards momentum indicated the bulls were in process of forming the base. Read here https://t.me/FastProfitsReport/931
With the gap-up opening above the resistance zone today, the bulls are invigorated and looking for more Diwali fireworks.
Since its opening, the first 90mins of markets just witnessed the one-way trend, that’s bullish.
If this gap-up and rally don’t break 17,300, the runaway gap can take Nifty to 17,800+ levels in the coming weeks.
The heavyweight #Reliance industries with 11% weightage have led the way for bulls ahead of its quarterly numbers out this week, can it take the index to 18,000+?
#Nifty
#KeepItSimple
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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 the ascending triangle pattern at 39,685 level. The index has risen over 600 points within a few hours of trading to reach 40,300 levels.
PSU Bank index is likely to follow the footsteps of Bank Nifty
Technically, the PSU Bank index has reversed from the demand zone and broke out from the short-term hurdle.
1. The 38.20% Fibonacci retracement of 2,283 to 3,267 at 2,890
2. The demand zone of 50DEMA (blue line) and 200DEMA (orange line)
3. An ascending triangle breakout
4. Breakout from the gap resistance zone
Since the low of 2,283 in June 2022, the PSU Bank index has rallied close to 40%.
It is also the best outperforming sectorial index. Hence, the retracement and breakout indicate the resumption of the long-term trend.
#KeepItSimple
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 the ascending triangle pattern at 39,685 level. The index has risen over 600 points within a few hours of trading to reach 40,300 levels.
PSU Bank index is likely to follow the footsteps of Bank Nifty
Technically, the PSU Bank index has reversed from the demand zone and broke out from the short-term hurdle.
1. The 38.20% Fibonacci retracement of 2,283 to 3,267 at 2,890
2. The demand zone of 50DEMA (blue line) and 200DEMA (orange line)
3. An ascending triangle breakout
4. Breakout from the gap resistance zone
Since the low of 2,283 in June 2022, the PSU Bank index has rallied close to 40%.
It is also the best outperforming sectorial index. Hence, the retracement and breakout indicate the resumption of the long-term trend.
#KeepItSimple
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The Diwali fireworks on D-street as Nifty reclaim the 17,500 level; ending at 17,487 gaining 175 points.
The PSU Bank Index was the top gainer with 3.76%. I wrote a brief note on PSU Bank Index, Read here
Nifty broke out of the resistance zone with a gap and retested the 17,450 but needs to sustain above the key psychological level of 17,500 for further bullish momentum.
Bank Nifty is likely to take the lead towards the 41,000 mark, the dip can be an opportunity for traders.
Brijesh Bhatia
Research Analyst, Fast Profit Report
The PSU Bank Index was the top gainer with 3.76%. I wrote a brief note on PSU Bank Index, Read here
Nifty broke out of the resistance zone with a gap and retested the 17,450 but needs to sustain above the key psychological level of 17,500 for further bullish momentum.
Bank Nifty is likely to take the lead towards the 41,000 mark, the dip can be an opportunity for traders.
Brijesh Bhatia
Research Analyst, Fast Profit Report
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Nifty - The Demand Zone @ 17412-17455
After opening with gap-up, the index traded in the range of 17,450-17,520.
Intraday traders should look for bullish entry at the retest of breakout level of horizontal trendline (blue) and the gap support (green) in the range of 17,412-17,455.
The CE writing in 17500CE indicates the major hurdle at 17,530-17-550 zone for intraday traders.
BankNifty is likely to lead the rally today as Private Banks may get flag-off after the rally in PSU Banks yesterday.
BankNifty has broken out of triangle pattern with the bang and likely to head towards 41,000 in coming days.
#Nifty
#BankNifty
#KeepItSimple
After opening with gap-up, the index traded in the range of 17,450-17,520.
Intraday traders should look for bullish entry at the retest of breakout level of horizontal trendline (blue) and the gap support (green) in the range of 17,412-17,455.
The CE writing in 17500CE indicates the major hurdle at 17,530-17-550 zone for intraday traders.
BankNifty is likely to lead the rally today as Private Banks may get flag-off after the rally in PSU Banks yesterday.
BankNifty has broken out of triangle pattern with the bang and likely to head towards 41,000 in coming days.
#Nifty
#BankNifty
#KeepItSimple
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Fast Profits Daily
Nifty - The Runaway Gap The bears tried hard to protect the resistance area of 17,450, but the bulls managed to break it in style. The Runaway Gap As highlighted in the chart of Nifty yesterday, the trendline breakout, retest and northwards momentum indicated…
Nifty - Today's rally confirming the Runaway Gap
Index heading for 17,800 - https://www.youtube.com/watch?v=GboEA0wqGWc&t=15s
Index heading for 17,800 - https://www.youtube.com/watch?v=GboEA0wqGWc&t=15s
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The lethargic momentum ahead of Diwali after the gap-up opening; Nifty ends at 17,512 gaining 0.14%.
Option Writers are having a gala time as Nifty trades in the range of 17,400-17,600; either side range breakout can trigger the 100-150 points move on expiry day tomorrow.
Bank Nifty may hover in the range of 40,240-40,790 tomorrow; writers can look for a short strangle if the index opens within the range.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Option Writers are having a gala time as Nifty trades in the range of 17,400-17,600; either side range breakout can trigger the 100-150 points move on expiry day tomorrow.
Bank Nifty may hover in the range of 40,240-40,790 tomorrow; writers can look for a short strangle if the index opens within the range.
Brijesh Bhatia
Research Analyst, Fast Profit Report
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RESULTS TODAY
NIFTY COMPANY
ASIAN PAINTS
AXIS BANK
BAJAJ FINANCE
ITC
TATA CONSUMER
F&O
CANARA BANK
COFORGE
COLGATE
GRANULES
IEX
INDIAMART
L&T FIN HOLDINGS
MPHASIS
UBL
DIXON
NIFTY COMPANY
ASIAN PAINTS
AXIS BANK
BAJAJ FINANCE
ITC
TATA CONSUMER
F&O
CANARA BANK
COFORGE
COLGATE
GRANULES
IEX
INDIAMART
L&T FIN HOLDINGS
MPHASIS
UBL
DIXON
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Nifty - Can Bulls seize the Opportunity?
This week has been the options writer's game after the gap-up or gap-down opening.
The index has opened at the retest of the breakout level of 17,430.
The golden cross on the hourly chart signals the bullish momentum.
Gap area strengthens the bullish setup for low-risk - high-reward entry.
The pattern would negate the hourly close below 17,289.
(CMP-17,435)
#Nifty
#KeepItSimple
This week has been the options writer's game after the gap-up or gap-down opening.
The index has opened at the retest of the breakout level of 17,430.
The golden cross on the hourly chart signals the bullish momentum.
Gap area strengthens the bullish setup for low-risk - high-reward entry.
The pattern would negate the hourly close below 17,289.
(CMP-17,435)
#Nifty
#KeepItSimple
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Fast Profits Daily
Nifty - Can Bulls seize the Opportunity? This week has been the options writer's game after the gap-up or gap-down opening. The index has opened at the retest of the breakout level of 17,430. The golden cross on the hourly chart signals the bullish momentum.…
Nifty - 17,435 to 17,500
Yet another day for Options Writer's 📈📉
What's your Expiry Level?
👍 Expiry around 17,600
👎 Expiry around 17,400
❤️ Expiry around 17,500
Yet another day for Options Writer's 📈📉
What's your Expiry Level?
👍 Expiry around 17,600
👎 Expiry around 17,400
❤️ Expiry around 17,500
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Fast Profits Daily
Nifty - Can Bulls seize the Opportunity? This week has been the options writer's game after the gap-up or gap-down opening. The index has opened at the retest of the breakout level of 17,430. The golden cross on the hourly chart signals the bullish momentum.…
Did you seize the opportunity Traders?
Nifty 17,435 to 17,580
Nifty 17,435 to 17,580
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It’s the options writer’s weekly expiry as Nifty hovers around 17,500; gains the last hour to settle at 17,563.
The bulls are in control of the trend as index reversed from the demand zone of 17,430 on Nifty; all eyes are on 17,800 for tomorrow.
After Nifty50 and Nifty500, it’s time for SmallCap Index to break out from the hurdle with the gap. The move above 9,715 will confirm the breakout and resumption of the bullish trend.
IT index is showing strength as it gains 1.33% today. What are you buying – Largecap or Midcap?
I did a video yesterday with our proprietary Equal Weighted Largecap IT index and Equal Weighted Midcap IT Index. Watch here
I will be sharing my Diwali Picks tomorrow. Stay tuned!
Brijesh Bhatia
Research Analyst, Fast Profit Report
The bulls are in control of the trend as index reversed from the demand zone of 17,430 on Nifty; all eyes are on 17,800 for tomorrow.
After Nifty50 and Nifty500, it’s time for SmallCap Index to break out from the hurdle with the gap. The move above 9,715 will confirm the breakout and resumption of the bullish trend.
IT index is showing strength as it gains 1.33% today. What are you buying – Largecap or Midcap?
I did a video yesterday with our proprietary Equal Weighted Largecap IT index and Equal Weighted Midcap IT Index. Watch here
I will be sharing my Diwali Picks tomorrow. Stay tuned!
Brijesh Bhatia
Research Analyst, Fast Profit Report
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Time to focus on SMALLCAP Index 📈
After the breakout in Nifty50 and Nifty500, the SmallCap index is on the verge of breaking out from the minor hurdle at the previous high of ~9,700.
It is convincingly trading above the 200DEMA and the bullish momentum may accelerate above the breakout level of the 9,750-9,780 zone.
I have decoded the chart pattern of SmallCap index and its performance against the Nifty50.
Watch the video to know the target levels of SmallCap Index.
(CMP-9,685)
#SmallCapIndex
#KeepItSimple
After the breakout in Nifty50 and Nifty500, the SmallCap index is on the verge of breaking out from the minor hurdle at the previous high of ~9,700.
It is convincingly trading above the 200DEMA and the bullish momentum may accelerate above the breakout level of the 9,750-9,780 zone.
I have decoded the chart pattern of SmallCap index and its performance against the Nifty50.
Watch the video to know the target levels of SmallCap Index.
(CMP-9,685)
#SmallCapIndex
#KeepItSimple
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