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Nifty Breakout Confirmation- Ready to hit 25,647 !!Nifty 50: Outlook for next week and feb-25 After analyzing the index’s movement from August to December 2024, Nifty 50 has exhibited two key patterns: 1. Head & Shoulders: • Rally from 24,887 to ATH 26,277 (Sep 9–26). • Breakdown after completing the right shoulder on Oct 21, leading to a 1,500-point fall to 23,291 on Nov 22. 2. Inverse Head & Shoulders: • Formation began on Oct 23, with the head completed on Nov 21 and a neckline formed by Nov 26. • On Dec 4, the right shoulder completed, followed by a breakout above 24,463. The index consolidated for a week between Dec 4–13, strengthening the breakout signal. Outlook With strong confirmation of a bullish reversal above last week close, supported by FIIs inflows and favorable macroeconomic data (CPI/IIP), It is highly likely that Nifty 50 is likely to hit 25,647 by December 23, 2024. If the breakout doesn’t happen then we can see a consolidation and retest on last week levels failing which will lead to a breakdown which can push Nifty to 23,000 levels by Februrary 2025 Disclaimer: I am not SEBI-registered. This analysis is for educational and study purposes only. Any trade taken based on this view is solely at your own risk and is not a recommendation.
NSE:NIFTYLong
by chandakpulkit
Asian Paints Trading Strategy for 16th December 2024Asian Paints Trading Strategy Key Levels: Buy Above: 2422 (on the high of the candle that closes above 2422 on a 5-minute chart) Sell Below: 2391 (on the low of the candle that closes below 2391 on a 5-minute chart) Targets: Upside Target: 2460 Downside Target: 2360 Strategy Details: Buy Signal: Enter a buy position above the high of the candle that closes above 2422 on a 5-minute time frame. Sell Signal: Enter a sell position below the low of the candle that closes below 2391 on a 5-minute time frame. Uptrend Confirmation: Asian Paints is likely to resume an uptrend if the price closes above 2470 on a daily closing basis. Additional Tips: Monitoring: Continuously monitor the 5-minute chart for clear buy or sell signals. Risk Management: Always use a stop-loss to manage risk and protect your capital. Market Conditions: Stay updated on market news and events that could impact Asian Paints. Disclaimer: I am not SEBI registered. This analysis is for informational and educational purposes only. Please consult with a certified financial advisor before making any trading decisions.
NSE:ASIANPAINT
by ramkkyy
Analysis of the Cummins India Ltd. (CUMMINS)Analysis of the Cummins India Ltd. (CUMMINS) Chart: Key Observations: Resistance and Breakout Zone: The chart highlights a significant resistance level at ₹3,600–₹3,620, which the stock is currently testing. A downtrend line (dotted) also converges near this zone, making it a critical level to watch. A breakout above this trendline would confirm a bullish move. Support Level: The ₹3,262 level acts as a strong horizontal support zone. The stock has tested this level multiple times, indicating solid buying interest at this level. Targets Identified: Target 1: ₹3,883.75 — This is the next key resistance zone if the stock breaks out above ₹3,620. Target 2: ₹4,106.45 — This level represents the next significant hurdle based on prior highs. Consolidation Phase: The stock has been consolidating in a range between ₹3,262 and ₹3,620 for the past few months, creating a base for a potential breakout. Targets: Short-term: A breakout above ₹3,620 can lead to a move toward ₹3,883 (Target 1). Sustained momentum beyond ₹3,883 can aim for ₹4,106 (Target 2). Medium-term: If ₹4,106 is breached, the stock could head toward ₹4,200–₹4,300 in a strong bullish scenario. Trading Plan: Entry: Enter on a breakout and sustained close above ₹3,620 with volume confirmation. Stop Loss: Place a stop loss at ₹3,500 (below the breakout zone) to manage risk. Target Levels: Short-term target: ₹3,883. Medium-term target: ₹4,106. Pullback Opportunity: If the stock retraces to ₹3,500–₹3,550 and holds, it could provide a better risk-reward entry point. Conclusion: Cummins India Ltd. is at a critical resistance zone. A confirmed breakout above ₹3,620 can signal the start of a bullish move, with immediate targets of ₹3,883 and ₹4,106. Monitor the price action and volume near the resistance for confirmation.
NSE:CUMMINSIND
by The90sTraderOfficial
City Union Bank Ltd. (CUB) AnalysisDetailed analysis of the chart and key levels for City Union Bank Ltd. (CUB) along with potential targets: Key Levels: Support Levels: ₹165–₹170: Recent breakout level (previous resistance turned into potential support). Any retest of this level could provide a buying opportunity. ₹120–₹140: Strong multi-year demand zone. The stock has bounced from this area multiple times in the past, making it a crucial support zone. Resistance Levels: ₹190–₹195: Immediate resistance near the current price. This level could act as a short-term hurdle. ₹200–₹210: A historically significant resistance zone that aligns with prior peaks from 2022 and early 2023. ₹220: Next major resistance based on the last significant swing high (mid-2022). Targets: Assuming the breakout sustains and bullish momentum continues: Short-term Target: ₹190–₹195: Test of immediate resistance. ₹200: Psychological and historical resistance level. Medium-term Target: ₹210–₹220: If the stock sustains above ₹200, this zone is the next logical target, as it represents the previous major peak. Long-term Target (Bullish Scenario): ₹240–₹260: If the stock continues its upward trajectory, these levels could act as long-term targets based on historical highs in 2019. Risk and Stop Loss: Stop Loss: Place a stop loss below the ₹165 level (previous breakout zone) to manage downside risk. Pullback Level: A healthy pullback to ₹170–₹175 could provide better entry opportunities if not already in the trade. Conclusion: The stock is showing signs of a bullish breakout from a long-term downtrend. Sustaining above ₹185 and crossing ₹190–₹195 will confirm bullish continuation. Traders can aim for the ₹200–₹210 range in the short to medium term, while the ₹220–₹260 levels are achievable in the long run if momentum persists. Monitor closely for volume confirmation and price action near resistance levels.
NSE:CUBLong
by The90sTraderOfficial
ICICI Lombard GIC Ltd. - Technical AnalysisPrice Action: The stock recently took support near the 0.5 Fibonacci retracement level around ₹1,892, bouncing back with strong momentum. This aligns with a visible bullish RSI divergence as the price formed lower lows while the RSI made higher lows, signaling a potential reversal. Key Levels (from Fibonacci): Resistance 1: ₹1,987 (61.8% Fibonacci level) Resistance 2: ₹2,127 (78.6% Fibonacci level) Final Target: ₹2,299 (Fibonacci extension, previous high) Support 1: ₹1,892 (0.5 Fibonacci level, current support) Support 2: ₹1,796 (38.2% Fibonacci level) Support 3: ₹1,677 (23.6% Fibonacci level) Entry, Stop Loss, and Targets: Entry: Around ₹1,940-₹1,950 (post breakout confirmation above ₹1,950). Stop Loss: ₹1,875 (below the 0.5 Fibonacci level and near recent support). Targets: Target 1: ₹1,987 (61.8% Fibonacci level) Target 2: ₹2,127 (78.6% Fibonacci level) Target 3: ₹2,299 (previous swing high) Volume and RSI Observations: The volume profile shows increased participation near ₹1,900 levels, confirming accumulation. RSI is recovering from oversold levels and shows divergence, supporting a potential bullish continuation. Conclusion: If the stock holds above ₹1,892, the bullish trend might continue toward ₹1,987 and higher targets. Maintain discipline with the stop-loss to manage risk effectively.
NSE:ICICIGILong
by AngshumanSaikia
BALAJI TELEFILMS, Bullish Momentum!BALAJI TELEFILMS (15-Minute Timeframe): Long Trade in Progress! BALAJITELE Trade Details: The long trade setup on the 15-minute timeframe has already hit TP1, showcasing a strong upward momentum. The chart indicates a likely continuation towards the remaining profit targets as per the Risological Trading Indicator. Key Levels: Entry: 61.67 Stop Loss (SL): 59.67 Take Profit Targets: TP1: 64.14 ✅ (Hit) TP2: 68.14 TP3: 72.13 TP4: 74.60 Analysis: The trade setup reflects a robust bullish trend with price action supported by moving averages. Buyers appear to maintain control, suggesting further upside potential. Outlook: With the first target achieved, focus shifts to TP2, TP3, and TP4. If market conditions persist, this trade setup could deliver exceptional gains. Stay tuned for updates as Balaji Telefilms approaches its profit milestones!
NSE:BALAJITELELong
by ProfitsNinja