WIPRO- Hourly/Daily/Weekly Timeframe-Channel/Tringle patternNSE:WIPRO
WIPRO has beaten so badly in last few months. The stock is near major support levels. The Sellers are trying to push it however somehow it is holding its levels.
Weekly : It has formed double bottom (355-360 level) at the bottom of the channel. As per weekly chart 370-380 was earlier resistance from where we saw sharp buying. Now it is retesting these levels and holding it from past 2 days. Besides it’s a .5 Fib level as well.
Daily : On 26th June there is a rejection from the bot (Hammer) which indicates 370-373 is strong support levels.
Hourly : From past 3 days it’s consolidating between 378-390 in tringle pattern. On Friday 30th June if we see a bullish price action near these levels it’s the best time to go long with small SL.
For positional traders SL should be around 370.
This is only for educational purpose, please manage your risk accordingly.
Nifty50
HEROMOTOCORP- Daily/Hourly Timeframe-Tringle PatternNSE:HEROMOTOCO
Entire auto sector has outperformed in past few weeks, However HEROMOTOCO is looking a bit weak as per as per the daily chart, it has broke its previous daily swing low.
Stock is consolidating in tringle in hourly chart. In hourly chart buyers are trying to push price higher (Higher lows) however sellers are defending level 2840-2855.
If it breaks either side we may see a momentum, keep eye.
This idea is only for educational purpose, please manage your risk accordingly.
Momentum with Nifty, but it is approaching over-bought zone.Momentum is with Nifty, but it has reached or will soon reach the Zone which might be very close to the overbought zone. Relative Strength Index cooldown / consolidation might also be required for Nifty to scale further highs. If not tomorrow then later next week. RSI will do some catching up and Profit booking at higher levels like we saw towards the end of Wednesday can also surprise. Beware of the Bull trap in some shares with weak fundamentals which might also rise as if they are genuine dark horses. 19000-19020 is the resistance zone now. Top of the channel for current let of the rally can be 19080 to 19200 range. Support for Nifty is near 18945, 18887.6, 18839 and 18796. Bear right now are on Oxygen. Some signs of life can return only if Nifty closes below 18602. Till that time Bulls will be in firm control.
BANKNIFTY/NIFTY ANALYSIS FOR FRIDAY 30TH JUNE -FOR EDUCATION PURBANKNIFTY/NIFTY ANALYSIS FOR FRIDAY 30TH JUNE -FOR EDUCATION PURPOSE
BANK NIFTY:-
If BankNifty sustain the level of 44300 ,then 44400-44500-44600 level can be achieved.
If BankNifty break down 44250spend time below then 44200-44100-44000-43900-43800
NIFTY:-
If Nifty sustain the level of 18950 then 19000-19025-19050-19075 level can be achieved.
If Nifty break down 18900 spend time below then 18875-18850-18825
This video is for educational purpose and my personal view . We are NOT SEBI registered Advisor, we only give the level on our practical trading experience. Kindly take the trade according to your risk and reward position and consulting your advisor.
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Our Chart continues to work perfectlyAs you can see and we had depicted yesterday Nifty had taken a firm support at 18646 and the only now was upwards. Despite negative to Neutral US markets Nifty opened gap up above what was 50 Hours EMA, confirmed support of the EMA at 18742 for few hours and then marched ahead. The march of Nifty was halted by the Mid-Channel Line resistance at 18829 and that is where Nifty cooled down a bit to close the day at 18817.4.
How is that for Precision? I hope you all are appreciating the efforts that we are putting in the analysis.
What Nifty holds for tomorrow? If Mid channel line (18829) is conquered tomorrow and Nifty hold above it, we will be sooner than later looking towards re-approaching the All Time high of Nifty and probably this time around Nifty might even break it and make a new high.
Resistances: 18829, 18840 and 18887.6. Post making a new high 18956 and 19018 can be very very tough resistances.
Supports: If the Nifty is not able to conquer 18829 to 18840 range and sustain above it the supports will be at 18795, 18742, 18646, 18576 and 18421.
18646 giving a great support can the rally re-launch from here?18646 giving a great support can the rally re-launch from here is the question now. Usually when index or the stock finds a proper support and investors feels confident about the support, there is a possibility of restart or re-launch of the rally from that region. Whether rally will be successful like the previous phase will remain the question. However if the rally re-starts the next resistance will be near 50 Hours EMa that is 18733. Crossing 18733 the most important ATH resistance zone of 18795 to 18887.6 awaits Nifty. Supports at the lower side remain at 18646, 18562 and finally the bears wake up if 18421 is broken.
NIFTY BULLISH CONTINUATION STRAUCTURE On the daily chart you could clearly see nifty has form a zigzag ABC structure with small internal structures. the current upwards movement is the C leg of the bigger ABC which has currently tested 18875.30 resistance level.
In the upcoming days, Nifty will pause by retracing lower to find support around 18084.60-170600.00 zone
I advise you take a long trade AROUND THESE MAJOR ZONES and target 20400.00
NIFTY ANALYSIS FOR MONDAY 26TH JUNE -FOR EDUCATION PURPOSENIFTY ANALYSIS FOR MONDAY 26TH JUNE -FOR EDUCATION PURPOSE
NIFTY:-
If Nifty sustain the level of 18650 break 18700 then 18725-18750-18775 level can be achieved.
If Nifty break down 18650 and break 18625spend time below then 18600-18550-18525
NIFTY WEEKLY LEVEL:
ON UPPER BAND 18800 AND ON LOWER BAND 18525.
This video is for educational purpose and my personal view . We are NOT SEBI registered Advisor, we only give the level on our practical trading experience. Kindly take the trade according to your risk and reward position and consulting your advisor.
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Nifty Dives below 50 hours EMA After Failing to Conquer ATH. Nifty Nose-Dived below 50 hours EMA After Failing to Conquer All Time High which was within the touching distance. The factors responsible for the fall can be attributed to Hawkish stance of FED before July FOMC. Hawkish stance of global Central banks and Profit booking near all time high. Relative Strength Index of Nifty (RSI) also needed some cooling down.
50 Hours EMA is working as an important resistance now and today low of 18647 will be important support for Monday. If the support at 18647 is broken Nifty can languish upto bottom of current channel and 200 Hours EMA which is near 18554. If Nifty closes below 18554 final support for Bulls is near 18421 closing below which bears will spring back to life.
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.
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💪🚀 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!
BANKNIFTY/NIFTY ANALYSIS FOR FRIDAY 23RD JUNE-FOR EDUCATION PURPBANKNIFTY/NIFTY ANALYSIS FOR FRIDAY 23RD JUNE-FOR EDUCATION PURPOSE
BANK NIFTY:-
If BankNifty sustain the level of 43750 break 43850,then 43950-44050-44150 level can be achieved.
If BankNifty break down 43750 and break 43700 spend time below then 43750-43650-43550-43450-43350
NIFTY:-
If Nifty sustain the level of 18800 break 18825,then 18850-18875-18900 level can be achieved.
If Nifty break down 18800 and break 18775 spend time below then18750- 18725-18700-18675
This video is for educational purpose and my personal view . We are NOT SEBI registered Advisor, we only give the level on our practical trading experience. Kindly take the trade according to your risk and reward position and consulting your advisor.
#stockmarkets
#nifty
#tommorrowMarketPrediction
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The Zone around ATH is proving to be a tough resistance. The Zone around 18862 and ATH of 18887.6 is proving to be a tough resistance to conquer. Nifty has so far made multiple attempts but has not been successful so far this week after coming in the touching distance couple of times. Once ATH resistance is crossed the next resistance will be near 18953 and 19018. But before we get there Nifty might again take a dip in search of a proper launchpad for that leap of faith. Global markets are expecting a hike by FED again in July FOMC as the action was PAUSE but commentary was hawkish. If that remains the case little bit of correction can also happen in Nifty. In such a scenario the supports this week will be 18827, 18790, 18756 and 18660. Below 18524 bear will try to snatch back control. Possibility of that happening is difficult this week. But we never really know.
Daily Time Frame - Anand Rathi Wealth The 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
ZERO TO HERO EXPIRY STRATEGEY FOR NIFTY 22ND JUNENIFTY ANALYSIS FOR THRUSDAY 22ND JUNE-FOR EDUCATION PURPOSE
NIFTY:-
If Nifty sustain the level of 18850 break 18875then 18900-18925-18950 level can be achieved.
If Nifty break down18850 and break 18800 spend time below then 18775-18750-18725-18700.
This video is for educational purpose and my personal view . We are NOT SEBI registered Advisor, we only give the level on our practical trading experience. Kindly take the trade according to your risk and reward position and consulting your advisor.
#stockmarkets
#nifty
#tommorrowMarketPrediction
#nifty50
#nfityoutlookfornextweek
#bankniftyoutlookfornext week
#bankniftyoutlookfortommorrow
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#bankniftyshareprice
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Nifty levels for 22nd JuneThis is not a prediction! And never believe in any prediction either! Just My-Lines to watch if it's respected and PA have an edge will buy or Short. Trade your system, trade what you see!
Check my previous post to see how well the levels were respected and reacted. Always wait for a retest to validate the levels, if its crosses above or below
NIFTY 50 - DAILY 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