PNC: UP Infra Tiger17x PER
1 year share perf 45%
amazing Story
technically as soon as it crosses 338, next stop is 450 !!
Indianstocks
BankNifty Analysis: Indecision with Bulls and Bears in ControlBased on the provided chart analysis, here is a revised summary of the current market situation:
On the daily timeframe, the market formed a perfect Doji candlestick, indicating indecision among market participants. It opened within the previous day's high and fell to 45000, where it found support and staged a recovery in a V-shaped pattern. The market then rallied to 45651 but subsequently fell again in a V-shaped pattern. This double reversal suggests both bears and bulls are strong, seizing control when opportunities arise.
The market has established major resistance levels at 45651 and a minor resistance at 45475. Major support levels are seen at 45000 and 44906, with a minor support at 45135. On the 1-hour timeframe, an inside candlestick pattern has formed.
Open interest data reveals that the 45300 strike price has a significant straddle of around 20L, while the 45200 and 45400 strike prices show a decent amount of put and call short positions, respectively. The major support level at 45000 has 41L puts, and the major resistance level at 45500 has 37L calls. The PCR (Put-Call Ratio) is 1.45, indicating a bullish sentiment.
Analyzing FII (Foreign Institutional Investor) data, it shows that they have a higher number of long positions in calls (7.78L) compared to short positions (4.76L). In puts, FII data shows more long positions (10.1L) compared to short positions (7.6L). FII Futures Data suggests a bullish sentiment with a value of 1173cr, and FII Stock Data indicates a bullish sentiment with a value of 2134cr.
Considering the analysis, the market is likely to be range-bound between 45000 and 45500, resulting in frequent reversals. Potential trades can be initiated if the market breaks above 45651 or below 43906. Alternatively, a break above 45364 could lead to an upside trade with a target of 100-120 points, while a break below 45223 could lead to a downside target of 45118.
Please note that this analysis is based solely on the information provided and does not constitute financial advice. It is recommended to consult with a qualified financial professional or conduct further research before making any investment decisions.
Nifty immediate term target below 19250.A 5-wave rally from 18650 is seems to be over right now. Target of 19250 is quite possible.
Sensex may reach 90k+ over a period of year from now.Sensex is in the final stage of its cycle wave rally. In the very short run, it may drop towards sub 62k and then rise towards 80k+ towards end of the year 2024. Ultimately, we may see 90k+ till mid 2024 to finish its cycle degree wave III or V.
Navigating Bank Nifty's Tides: Breakouts, Halts, and Sideways MaBased on the daily timeframe chart, it is observed that every time Bank Nifty has attempted to break its all-time high, it has either halted or formed an inside bar. Furthermore, the recent volume levels are the lowest seen in months. When comparing the trendline drawn from the last low of 16 march to the volume, it is evident that the volumes are decreasing. This could be an indication of a sideways market since the participants' involvement is limited. However, it's worth noting that the candle formed on Friday was bullish, which adds some confusion.
On the 15-minute timeframe, Bank Nifty has formed a double top around 44,800. Additionally, the VIX (Volatility Index) is currently at one of its lowest points. Based on these factors, it seems unlikely that the VIX will experience further downside movement. On the contrary, it is anticipated to move upwards.
Looking at the open interest data, it is observed that there is significant put writing at 44,500 (53L) and 44,600 (23.3L), with relatively lower call writing. The only notable resistance is at 44,800, with 24L in call writing and 12.4L in put writing. Surprisingly, there isn't much call writing at the 45,000 level, which is unusual (24.4L in calls and 5.24L in puts). The PCR (Put Call Ratio) is at 1.45, indicating a bearish sentiment.
Analyzing the FII (Foreign Institutional Investors) options data, there are 7.48L contracts in long calls and 4.76L in short calls, while for puts, there are 9.37L in long contracts and 7.74L in short contracts. This change in open interest indicates a bullish sentiment. Additionally, the FII futures data shows a positive value of 1539.9 crores, suggesting a bullish outlook. The FII stock data also supports this sentiment, with a positive value of 6397.1 crores.
In conclusion, based on the available data, the market appears to be bullish with no significant resistance ahead, except at 44,800 and 45,000 levels. However, historical patterns indicate a tendency for a halt after breaking the all-time high. Hence, it's important to keep this historical behavior in mind.
Regarding trades, if Bank Nifty opens flat and breaks the day's high, one can consider going long directly. In case of a gap-up opening, it is advisable to wait for a retest or at least for the gap to be filled before looking for long positions. If the market opens with a gap down, it is recommended to refrain from trading as it may lead to a sideways market.
Asian paint chart breakoutlooks like asian paint chart has just given breakout and 3400 looks like cake walk for stock.
Shree Cement: Ascending Triangle Breakout and RetestShree Cement(stock symbol: SHREECEM) has been forming an ascending triangle pattern since April 2022, but recently it broke the pattern with a gap down. However, it managed to recover and is currently retesting the lower trendline. During this retesting phase, the stock is forming dojis, which could potentially act as a trigger for a further move. To implement a trading strategy, a stop-loss (SL) could be placed above the high of the doji, while the target levels are set at 22,623 as the first target and 21,853 as the second target.
Note: It's important to keep in mind that financial decisions should not be solely based on patterns or technical analysis, as market conditions are subject to change. It's advisable to conduct thorough research and consult with a financial advisor before making any investment decisions.
Bank of Baroda Breaks Out of Triangle Pattern: Bullish Momentum
Bank of Baroda(stock symbol: BANKBARODA) has been trading within a triangle pattern since December 2022, but it has recently broken out of this pattern. During the triangle formation, the stock tested the lower trendline six times, and each time it tested, a substantial rally followed. On June 19, 2023, the stock broke above the upper trendline with decent volume, indicating a potential bullish move.
Currently, the stock is retracing and retesting the upper trendline to validate the strength of the buyers. Traders looking for an entry point may consider observing candlestick patterns such as a hammer or engulfing candle that could serve as potential entry triggers. Setting a stop loss below the identified candle pattern can help manage risk.
The initial target for Bank of Baroda is set at 201.60. If the stock continues to show strength, the second target is at 206.65, and the final target is at 215.85. It is important to note that Bank of Baroda can be traded in the equity or futures and options (FnO) segment.
Please remember that trading involves risks, and it's always advisable to conduct thorough analysis and consult with a financial advisor before making any investment decisions.
Astral Ltd. Consolidating at All Time HighAstral Ltd (stock symbol: ASTRAL) initiated its rally on March 29, 2023, and has witnessed a remarkable return of approximately 52% as of today, June 29, 2023. Currently, the stock is consolidating at an all-time high and is poised to make a decisive move either upwards or downwards. The Relative Strength Index (RSI), which had previously indicated an oversold condition, has now cooled off.
In the near future, there are two potential scenarios. Firstly, if Astral Ltd breaks above the level of 2023.75, it could lead to further gains and generate favorable returns. Alternatively, if the stock breaks below the level of 1926, it might experience a decline. The downside target in this case is projected to be 1735.45.
It is important to note that these projections are subject to market fluctuations and should be carefully considered based on individual risk appetite and investment strategies.
National Aluminum (Flag & Pole)National Aluminum (stock symbol: NATIONALUM) experienced a significant decline from its peak at 127, dropping down to 67. However, it found support at this level and formed a double bottom pattern, with the second low also at 67. Subsequently, the stock began a slight upward movement but has remained within a channel pattern since August 2022 until today, 29th June 2023. Notably, the trading volume has gradually decreased during this channel period.
A breakout on either side of the channel is expected to result in a substantial move, with a preference for the downside. For a short position, it is advisable to enter at 79.10, and the first target for this downward movement is set at 71.35. If the decline continues, the second target is projected at 67.25.
Conversely, for a long position, the entry price is 86.75, and the first target for an upward move is set at 99.70. It's important to note that National Aluminum is an FnO (Futures and Options) stock, allowing for trading in both equity and FnO segments.
Please note that this analysis is based on the provided information, and it's always recommended to conduct further research and analysis or consult a financial advisor before making any investment decisions.
240 MINS TIME FRAME - RAYMOND STOCKThe Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart).
Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves.
we do not get into bullish or bearish traps. We anticipate and get into only big bullish or bearish moves (Impulsive Moves). Just ride the Bullish or Bearish Impulsive Move. Learn & Know the Complete Market Cycle.
Buy Low and Sell High Concept. Buy at Cheaper Price and Sell at Expensive Price.
Keep it simple, keep it Unique.
please keep your comments useful & respectful.
Thanks for your support....
Tradelikemee Academy
JSW ENERGY- Daily Timeframe-Bullish patternNSE:JSWENERGY
From March-2023 Stock is taking rejection from bottom trendline and on the upper side sellers are trying to sell it around 275-277 levels (resistance zone).
However, the swing lows are shifting up side (Higher lows) which is a sign of strength, sellers are not able to drag it below previous swing.
Currently it has taken support on the trendline 5th time and it’s near its rejection zone.
Stock has good potential to go upside in upcoming weeks.
This is only for educational purpose, please manage your risk accordingly.
RATTAN INDIA POWER - WEEKLY TIME FRAMEThe Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart).
Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves.
we do not get into bullish or bearish traps. We anticipate and get into only big bullish or bearish moves (Impulsive Moves). Just ride the Bullish or Bearish Impulsive Move. Learn & Know the Complete Market Cycle.
Buy Low and Sell High Concept. Buy at Cheaper Price and Sell at Expensive Price.
Keep it simple, keep it Unique.
please keep your comments useful & respectful.
Thanks for your support....
Tradelikemee Academy
DCMSHRIRAM Breaks Key Resistance Level with High Volume
🔍 Overview 🔍
DCMSHRIRAM, has been facing strong resistance at the 910-920 level since November 2022. Interestingly, the 910 level has been acting as both support and resistance since June 2021. Today, we witnessed a breakthrough of the 910-920 level with a significant surge in volume. This breakout occurred on the weekly and daily charts, making it a crucial development to consider.
📊 Technical Analysis 📈
Plan buy trade near closing of market if breakout sustains above resistance
DCMSHRIRAM has been consolidating within the 910-920 range for several months, indicating a period of indecision and lack of clear direction in the stock's price movement.
The 910 level has proved to be a significant support and resistance zone in the past, highlighting its importance in determining the stock's future trajectory.
Today, we observed a breakout above the 910-920 range with an extraordinary surge in volume, suggesting strong buying interest and a potential shift in market sentiment.
The breakout on both the weekly and daily charts strengthens the bullish case for DCMSHRIRAM, as it indicates a potential trend reversal and the beginning of a new upward movement.
📊 Technical Terms 📈
Before delving further into the analysis, let's clarify some technical terms for those new to trading:
1. Resistance Level: A price level at which selling pressure is historically strong, causing the stock's price to struggle to rise above it.
2. Support Level: A price level at which buying interest is historically strong, preventing the stock's price from falling below it.
3. Breakout: The movement of a stock's price above a significant resistance level or below a significant support level, indicating a potential change in the stock's trend.
4. Volume: The number of shares or contracts traded in a security or market during a given period. High volume often indicates increased market activity and can confirm the strength of a price move.
👍📝 Like, Comment, and Follow 👍📝
If you found this analysis helpful, don't forget to give it a thumbs up! Feel free to share your observations in the comments section below. Your feedback and engagement are highly appreciated as they keep me motivated to consistently provide educational content.
Thank you for your support, likes, follows, and comments. It means a lot to me! If you want to stay updated with more articles and trade setups, make sure to follow me on TradingView: in.tradingview.com
💪🚀 Trading is not just about making money; it's a journey of self-discovery and personal growth. Embrace the challenges and keep pushing forward! 💪🚀
Remember, this analysis is for educational purposes only, and I am not a SEBI registered analyst. Always conduct thorough research and consult with a certified professional before making any investment decisions. Happy trading!
Delhivery: Reversal candidateAs seen in the chart, delhivery is currently trying to reverse it's trend from a bottom of 300.
350 has acted as a strong support and 400 is proving as a good resistance.
As per pattern, since the stock was in a long term downtrend, the zone of 400-350 can be considered as accumulation zone as the buyer's activity seems quite strong here.
A close below 350 can be considered as a stop loss for a positional mid-term trade.
More patient traders who are looking at a period of more than 6 months can place their SL below 300 and consider 300-400 as their accumulation zone.
JSW Steel ready for major breakout 🚀JSW Steel getting ready for major breakout :
Why you consider it as a Quality Trade
1. Price @ All time high
2. Time frame : weekly & monthly
3. Pattern : Pole & Flag
4. Structure : Super Bullish
5. Positional Trade for almost a year
Take Cautions before take entry 🚫 :
1. Wait for price to close above ₹792 in weekly time frame
2. Calculate your proper Risk Management
3. This my analysis not suggestion
BankNifty Breaks Channel Pattern and Forms Reversal CandleBankNifty Breaks Channel Pattern and Forms Reversal Candle at Resistance, Indicating Potential Bearish Momentum
Date: June 14, 2023
In a significant development for the financial markets, BankNifty, a prominent index tracking the performance of banking stocks in India, has broken a long-standing channel pattern and recently exhibited a notable reversal candle at a key resistance level of 44,202. This event has garnered attention among traders and analysts alike, signaling a potential shift towards bearish momentum.
The channel pattern, which had been guiding the movement of BankNifty over the past several months, was breached as the index surpassed its upper boundary. This breach denotes a departure from the established trend and has sparked anticipation of a new market direction.
Adding to the bearish sentiment, a reversal candle has formed at the critical resistance level of 44,202. Reversal candles are chart patterns that suggest a possible shift in sentiment, often heralding a reversal in the ongoing trend. This occurrence at a significant resistance level intensifies the likelihood of a bearish momentum taking hold in the BankNifty.
Market analysts and traders are keenly observing the current situation, considering the implications of this break and reversal. A sustained move below the channel pattern and the resistance level could further reinforce the bearish outlook for BankNifty, potentially leading to extended downward movement in the near term.
If this anticipated bearish momentum continues to materialize, it could impact various sectors within the banking industry and potentially influence investment strategies. Traders and investors are advised to closely monitor the evolving situation, taking into account technical indicators and fundamental factors to make informed decisions.
As with any financial market prediction, it is essential to exercise caution and consider multiple perspectives before drawing conclusions. The outcome of this potential bearish momentum remains uncertain, and market participants should be prepared for various scenarios.
Disclaimer: The information provided in this news article is for informational purposes only and should not be considered as financial advice. Trading and investing in the financial markets carry risks, and individuals should conduct thorough research and seek professional guidance before making any investment decisions.
NAGREEKEXP - DAILY TIMEFRAMEThe Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart).
Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves.
we do not get into bullish or bearish traps. We anticipate and get into only big bullish or bearish moves (Impulsive Moves). Just ride the Bullish or Bearish Impulsive Move. Learn & Know the Complete Market Cycle.
Buy Low and Sell High Concept. Buy at Cheaper Price and Sell at Expensive Price.
Keep it simple, keep it Unique.
please keep your comments useful & respectful.
Thanks for your support....
Tradelikemee Academy
NSE:IEX - Did you buy the dip - what next? IEX is one of leading short term energy exchange
Pure price action NSE:IEX help you understand what's possible
Recovered from low after the bad news
Market is digesting positive news on court ruling
now waiting for next trigger?
Bharat Forge will continue to Rally with the Double BottomsBharat Forge has formed a bullish double bottom pattern, indicating a potential trend reversal. The recent breakout above the key level confirms the bullish sentiment. This breakout suggests that the price may experience a significant upward movement, potentially resulting in a gain of around 10-11%. It is important to monitor the price action and look for further bullish signals to confirm the continuation of the rally.
NSE:SWARAJ Engine 🚜NSE:SWARAJENG
NSE:SWARAJENG 12% 🚀
Anticipation can help you be ahead of the game...
#swarajeng
Adani Ports Strong Recovery with Highers Highs and Higher LowsAdani Ports has displayed a robust bullish trend, characterized by higher highs and higher lows, leading to a recovery from the earlier sell-off. Currently, an expected pullback towards the support level is anticipated to accumulate more buying pressure before initiating another rally.
