Indianmarket
NIFTY 50 - Complete Breakdown of ChartHi Traders,
As we breakdown the hourly chart for short term analysis, we have a short term bearish bias on nifty 50 because it is trading below the 50SMA. Nifty 50 has closed below a major support level today. Other Key levels as per hourly chart are between 11458.05 and 11418.18 which can act as a resistance in case of a pullback. We have a support at 10897.84 and 10861.36.
Now we will have a look at the daily chart. The daily shows that this counter is inside a support zone(White) and we have a resistance at 11445.87(Green). This resistance can be only for a short term because the daily chart shows we are still in an uptrend because we are trading above the 50SMA.
Nifty has broken a trendline to the downside but in can still be a corrective wave. A close below 11077.42(Red) will indicate the start of a downtrend.
Note:- This analysis can be used for short term and medium term analysis. We need to breakdown the weekly chart for long term investments.
If u have any suggestion on which counter u need an analysis, please comment below.
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POSSIBLE SHORT TERM TREND REVERSAL IN TATA MOTORSHi Traders,
Tata Motors has broken our golden zone with confidence, and is now testing a key level of trend reversal at 141.85. If the day close below 141.85 levels our short term bias on this stock will be bearish and we will be looking for shorting opportunities. If the close is below 141.85 we will have new resistance levels. New levels will be updated in post market hours if we have a trend reversal.
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USD/INR - something is cookingINR may have made a long term TOP or about to do so.
Will wait for a confirmation by price action in next few weeks.
A small degree confirmation(daily) will be good to make a trade.
Looking for mid and long term targets to hit over the next few months to years.
I am certain this will also be reflected in Equities overly long term and should be positive overall for the economy.
Trade Setup - JSW STEEL Hi Traders,
We saw a good sell off in the indian markets, the jsw steel chart seems very attractive for us. The price is still in an uptrend as per the 4h and daily timeframe. We have the goldenzone between 282.15 and 278.90. The price has tested the golden zone and closed above this level. We have immediate resistance at 285.40 and 289.40. A good and safe trade setup can be when the price breaks the trendline and the resistance at 285.40.
A buy entry can be placed when price retest the broken resistance, and the target can be placed at the next immediate resistance.
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INTRADAY ANALYSIS - BHARTI INFRATELHi Traders,
This Stock has created a higher high and is trading well above the 50 SMA. We have the immediate support at 211.35 and 205.10 levels. The price can continue trending upwards after a pullback to these levels. We have the golden zone between 200.05 and 195 levels, If price respect the golden zone then the further upside of this stock is limited. You can use any strategy to enter at these levels. We dont recommend a blind entry at these levels without confirmation. A chart pattern in the 1m timeframe at these levels can be a good confirmation.
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ZEE LTD - Complete Technical AnalysisHi Traders,
We have a mixed opinion on this stock, but will definitely add to our watchlist.
The weekly chart shows that this stock has been in a downtrend since jun 2018, and price is forming a double bottom pattern which indicates the end of this downtrend.
The stock price is approaching key resistance point at 209.50, which came in confluence with the inner trendline. A break of this trendline can result in price testing the outer trendline.
The golden zone is between 239 - 268.50 which can play as a resistance zone.
We can expect 300 levels on this counter by mid 2021, if we get a break of the outer trendline.
On a short term perspective, how the price reacts at 209.50 and the inner trendline will be a decision maker.
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NTPC - Complete Technical AnalysisHi Traders,
This stock will provide some buying opportunities in coming days.
As we breakdown the chart, the price has broken through the weekly inner trendline in confluence with the break of SMA 50. This is a good indication that price will test the outer trendline .
The weekly chart formed a double bottom pattern and broke above the neckline, that's another reason to buy this stock.
A thing of concern about this stock is that we have a golden zone between 109.50 - 118.00 level, where price can move in a range before testing the outer trendline .
We should expect some drawdown as price can retest the broken levels. we have strong support at the neckline of double bottom and at the inner trendline .
A break above 130.40 levels marks the end of a 2 year long downtrend, and we will have a bullish outlook on this stock for at least a year and half.
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NTPC ::: BREAKOUTDATE: 20 AUG 2020
INSTRUMENT: NTPC
INDICATORS: DAY
PSAR: BULLISH
STOCHASTICS: BULLISH
200 DMA: 101.60
INDICATORS: WEEK
PSAR: BULLISH
STOCHASTICS: BULLISH
INDICATORS: MONTH
PSAR: BULLISH
STOCHASTICS: BULLISH
CMP: 101.10
BUY: 102.60
TGT . 01: 106.68
TGT . 02: 111.76
RISK DISCLOSURE :
Technical analysis of FOREX and INDIAN MARKETS. We are not SEBI REGISTERED ANALYSTS The views expressed here are for our record purposes only. Please consult your personal financial advisor before investing. We are in no way responsible for your profits/losses what so ever.
ST Nifty BreakoutMajor Points:-
1. Another classic breakout after a short consolidation.
2. Long term uptrend intact.
3. Let's see Nifty could consolidate above 20 days MA and not break 200 days MA.
4. Bank nifty is clearly exhausted. Now the Metals and pharma are helping the nifty.
5. Nasdaq and S&P really consolidating for another breakout. Upside or downside we could see next week.
Good Day.
NIFTY 50 long term ViewFrom Current date 18th July Nifty at 10900 +
Step 1: Nifty will retrace 78.6% till 11377.75.
Step 2: To form a Head, NIFTY will fall from 11377.75 to 8800 level.
Step 3: Nifty will then form another shoulder on the right.
Step 4: Nifty breaks below 8800 and falls down to 6225-6350 level which is a big support level.
NIfty Bank Bullish pattern As the Brearish market is fainted away now its time to ride the bull, the market is almost braked its strong resistance of 22300 as it's in a bull phase since 2 days so can make a doji or price action then the real Bull move will come, get ready for the Ride traders, mark target of 23300 for the short term.