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Support breached but where would carnage stop on Nifty? Nifty finally breached 7 months old downside channel towards south which indicates more furious sell-off in coming weeks. Since last few weeks, 15900 was acting as a strong support on the indices but on Friday we have closed below the support indicating more weakness. So were would this carnage end for the bulls? The market always of probabilities in answer and so I have this time too. Checking on Elliot wave, I feel we are into corrective wave C which could end now either at 15450 (considering Wave A=Wave C) or at 14800 (considering Wave C= 123.6% of Wave A). Though chances of taking support at 15450 are little bit brighter because it coincides with other EW guideline which states that corrective WAVE shouldn't trade below motive wave 1's high which is 15431. Please note that its just a guideline and Nifty could even test the second possibility so trade accordingly. P.S. Sell on rise still considerable for short term traders with SL at 16500.
NSE:NIFTYShort
by KushGhodasara
Future Enterprises FEL - India's Biggest Retail Chain is in RED<> <> <> - Catch the Stocks when they are Red, they say- - There is no INDUSTRY more BLOODY RED than 'Old Physical Retail Outlets/ Chains' these days, Like BigBazaar Retail Chain in India. - Already under debt of 25000Cr (almost $3.8Billion). Amazon and Reliance group (India's 2nd biggest business group) literally Battling it out in every COURT available in India and in Singapore to acquire its entire share. - India, One of the Most Crowded place in the World, under the severe Impact of Covid, is unprecedented is breaking down each day. People are dying, govt trying hard but it is not enough. Country is short on everything from medical supplies, oxygen, to generating employment. Thus, Further Crash in Retail sector is eminent. However, India had, has and always will have very strong domestic demand to support its bounce back. India's population is 1.30 Billion V/s 0.745 Billion in Entire Europe (almost double than EU). - Post Covid, when market will start to stablise and people will start getting back to their previous buying behaviour. Retail sector will be the first sector to show robust growth. Imagine what will happen to Retails stores once covid is over, they will be overwhelmed and stocks will soar - BOOM. - It (FEL) is a very very long term chart, so consider this investment as your "Retirement Plan Fund/investment". You can think of Investing a very small amount, but it needs to be with very long time holding view like min 8-10 yrs. Research yourself, - About BIGBAZAAR - Future Retail + Reliance group i.e. Mukesh Ambani) V/s Amazon (Jeff Bezos) - It is an exciting fight to watch, and is about to culminate. <> <>
NSE:FELLong
by aakashbit1
Nifty's Daily Chart AnalysisHere I brings you the daily chart analysis of NSE:NIFTY Going back to 23 march 2020 Nifty 50 found a strong support of a trendline and never go below that trendline until 23 November 2021. But on 22 Nov 2021 , it gone below the trendline but still managed to close above trendline. on 23 Nov 2021 it opens below the trendline but closed above it. similar story for 24th and 25th November But 26th November was the day when Nifty Opens below the trendline and closed far below it... that was the day since nifty never gone above it. On 12th, 13th, 14th and 17th January 2022 it again tried to go above the previous ( Solid Dark ) trendline but failed to do so, and pushed below the newly formed downward trendline ( Dotted Trendline ). Nifty again tried to cross above the new trendline on 2nd and 10th February 2022 , but failed. From last six days Nifty continuously trying to go above the dotted line but every time it got rejections . Conclusion of Analysis:- 1. Nifty may remain in the downtrend until it crosses the dotted trendline and sustain above it. 2. If it succeed to cross above the dotted trendline, Nifty may remain in a sideways trend until it breakout the 17800 zone. This Analysis is not a trade recommendation, this study is purely for education purpose only, Do your own Study and Research before getting into any trades.
NSE:NIFTY
by Abhi_The_Chart_Reader
HINDALCO'S SHOULDER BROKEN !!! # MISSED trade# NSE:HINDALCO { What happened ? As u can see in chart, that share price is completely 10% broken down from 550 range; I was eagerly waiting for shorting this trade(From 12 April); but due to some work pressure ,I wasn't able to gaze the charts; And hence I lost a precious trade; Don't take any trade now since it already moved to the downside target; } What is Head-shoulder pattern?? { it's similar to human body; human have one head and two shoulders; In the same way the stock price moves from right to left shoulder by overstepping head; Even the situation may turn vice-versa; We will mark the shoulder line ,in the above chart the shoulder line was around 550; if shoulder line broke down ,then there is a huge probability of stock following the trend; i.e., if it's down trend then it moves further huge down till it reaches a supporting level; or vice-versa; } Moral of the story :- { Always Watch charts, NO matter what it takes; One good aimed trade better than 10 blind trades; Wait for chance, and grab the trade; Have price alerts for trades, since u cannot focus all time; } HAPPY TRADING { Follow for More exciting trades.. @VK2413 Show your ❤️by 👍to the idea.. Please express the trades You missed in comment section..! }
NSE:HINDALCO
by VK2413
2
Is NIFTY in bulish zone ? Nifty have a very good systematic triangle pattern in top of 1d timeframe if you ignore the fake brakeout because that is a V shape recovery after go downside so its a fake brakeout . I hope it will break after weakly expire . If nifty break the upper level which is 17940 then we may see a bulish candle in nifty but to enter we need a re-test in nifty because we are in the top . so re-test is important as per my analysis . Still if anyone want to every in first brakeout then you need to must set 1:2 target Stop loss after that you can trail . But if that's break downside then you can go with first breakout . *Do your own analysis before entering the trade this analysis is my point of view so do your own research before enter the trade .
NSE:NIFTY
by THE_PSYCHO_TRADER
Nifty has broke out of recent 2200 points rally !Nifty had been trading in a dream rally since the low at 15600 in Feb but now it seems near term high has been pinned at 18114. There are many technical factors supporting the view that we may play short from tomorrow. Firstly, Nifty has resisted exactly at larger degree channel line which is intact since the life at 18604 Secondly, Nifty has breached down channel which it was running onto since recent low at 15600. Thirdly, 15 day average (red line) where recent support was strong has been breached for last two trading sessions and Nifty has closed below the same to confirm the weakness. And lastly, RSI and MACD, both has shown bearish crossover on their respective averages. So to sum up, we can Freshly short nifty for a week with SL of 17685 while first target is at 200 day average at 17158 and second target would be open for new post.
NSE:NIFTYShort
by KushGhodasara
20 years Fibonacci based analysisNSE:NIFTY In previous years nifty has expanded a lot very fast. it can be seen in chart that nifty has increased by 145%(approx.) from March 2020 till October 2021 , after which a down trend was observed on monthly chart. By taking previous years in account, it can be concluded that Nifty showed a retracement every time. and it was about 50% on an average. Currently Nifty is going through a retracement since November 2021 on monthly chart. So how long will the retracement continues? this is the only question arising in my mind. will it give a minimum of 38% retracement? or more ? or less ? god knows. comment your opinion below. This study is not a trade recommendation, do your own study and research before getting into any trade.
NSE:NIFTY
by Abhi_The_Chart_Reader
6
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NSE:NESTLEINDLong
by EVOQUE5000
3