Banknifty Futures analysisBanknifty Futures forming hammer with long wick rejection (it means buyers were In control even though selling pressure was there )
Important key levels to watch out for intraday 🎯
And Go long when breakout of level 37450-37500 with Stoploss of 37400 and Target 37800
And
short / write only when it crosses below the 36850-36800 and with stoploss of 36950 and with Target of 36600
Banknifty will weak when it traded below the 37050-37000 level But short only after main level breakout due global negative sentiment market will more volatile
If you like it do follow and have good day cheers
Indianstockmarket
Nifty 50 chart analysis Nifty formed an green hammer
(Which is telling that there was selling pressure during the day ultimately a strong buying pressure drove the prices . This is what happened today)
And if we see the intraday volatility today is about 0.72% which is good volatility range
Positive sign :- closed above intraday pivot control point of 17500 level which is 1st resistance level for Nifty today
I give an caution for option sellers (u can see in mine profile)
ie. CALL shorts will get covered if breakout of 17500-17530 levels
If go and see the option chain data (Given link below ) u can more shorts get covered in between strikes of 17500 to 17800 .
Let's watch out intraday levels for Nifty for 22 SEP
🎯 Key levels
Buying CALL only above 17620-17650 level which very crucial resistance zone
And Buying PUT option only when traded below the 17330-17300 level which is very crucial support zone
And Nifty will become when it's Traded below the 17450 level which is control pivot point region and don't short market until breakdown down this level [ call writers] otherwise u will run for covering
Nifty 50 Futures chart analysis Nifty Futures formed bullish engulfing on daily frame chart
Nifty Futures closed above the intraday pivot point control region this positive sign for market ..
And as I told before that is if Nifty tradeed above 17500-17530 levels then more people will run for covering if you see the data about Futures more shorts get covered after breakout 17500 level which is crucial zone for Nifty Futures
🎯 Key levels to watch out for tomorrow
Uptrend only when Nifty breakout of crucial resistance zone of 17630-17650 (from this region Nifty Futures getting shorting means pull back from this level )
Downtrend when it breaks the crucial support zone ie 17340-17320 (market get bounce from this level acting as demand zone)
These are crucial zone for Nifty Futures for intraday
Don't short the market until breakdown of 17450 level then only write otherwise u will run for covering
Nift Chart analysisCan you guys see which patter Nifty is formed now .... If you see in 5 mins chart you can see clear picture of it .
Nifty as bounce back from support level of 17330-17300 it's support level of past 5th pivot point region which is imp support level and formed inverse head and shoulders with taking resistance of level 17430 lower end of today pivot point which acting as an strong resistance now and Take an trade BUY CALL Nifty when it breakout of resistance 17500-17510 with low quantity because there's more volatility in market ...
Drreddy - Elliott wave analysis - ABC zigzag in (B) wave bounceIt is in (B) wave correction as ABC, where A wave looks like forming impulse, so expecting one more high and then correction of B and one more leg higher as c of (B). Once it finished (B) again it will go down for (C) down in complex (W)(X)(Y) correction down.
Tatamotors - Elliott wave analysis - double top pattern It is in ABC correction after completed impulse cycle at 361 and now moving down in C wave. It is expected to bounce in 2nd of C wave up to 290-305 with invalidation level above 312 and then go down up to 250 or lower level to finish the ABC zigzag cycle.
ICICI BANK potential distribution phaseHey guys!
Today we are looking at the ICICI Bank chart.
Seems like the recent bull market move needs some rest for a while.
Although anything can happen, I am waiting for clear confirmations before executing a sell or a buy.
But mainly I would look for sell side trades.
The horizontal orange line shows the level, if broken, I would look to sell the share and go short, i.e bearish.
I might sell calls or buy put option or might sell the FUT or EQ segment. Will depend on the situation at that time.
Nothing mentioned above is an investment advice, kindly contact your financial advisor before taking any action.
We will not be responsible for any profit/loss
Good luck guys! <3
Bajajfinsv - Elliott wave analysis - Impulse 5th wave It is in 5th of 5th of 5th wave started from the 13855 and can go up to 15500 level before it correct the whole move started last year. As long as it stays above mentioned level, it is bullish, but if it breaks below that level, then it may become bearish and can fall sharply.
Adanient - Elliott wave analysis - ABC correction It is in sideways correction of B wave as expected in earlier updates. At current level, either it finished the B wave as complex sideways correction as wxy as trucated correction or it may possible that it is forming triangle before next wave C down. The C wave will probably confirms below 1332 and can go down below 1080 level.
Adanient - Elliott wave analysis - ABC correction Adanient is in sideways complex B wave correction and can go up to 1600-1635 zone before it will end it and start moving down for C leg. Above trend channel of abc move (last leg) it can go up to mentioned level of even slight higher. If it failed to go above W wave high of B, then there is a possibility of triangle as B wave.