Nseindia
Nifty Trade Setup for 08th Nov. 2021s3.tradingview.com
Good Morning, Everyone. I hope you guys have enjoyed this long weekend. Now time to go back to work. First, Our Market has been closed Thursday and Friday sessions, but India USD and Sgx are both open. India USD is trading on 17,987, which is a clear sign for a gap-up opening.
I did some analysis yesterday and found that the IT and Auto sector can lead nifty in this week.
I Have posted two charts and tried to explain the current market scenario. We can see a short-term uptrend in the 15-minute time frame. 18,035 is the Harmonic PRZ area, which is confirmed as resistance in a 2-hour time frame as well.18,035 is a critical level in the Intraday can accept a short-covering move on breakout
Key & Intraday Resistance : 18,035-18,050
Intraday Support : 17,900
Key Support : 17,750
Trade accordingly
Nifty Update on 03rd Nov. 2021
Good Morning, Everyone. I hope you did well in yesterday's trading session and made some good money from our analysis. Nifty fell exactly from our given level in yesterday's trading session and closed at 17,888.95. The sentiment is still negative, and 18,000 to 18,050the whole area is a considerable supply zone for nifty 50, so you need to be careful in your long positions.
India USD is trading at 17,981, almost 54 points up from the previous closing, so a 40-60 point gap up is possible in today's trading session.
Intraday & Key Resistance : 18,000 to 18,050
Key support : 17,650
Intraday support : 17,850
Trade accordingly
TATAMotors ShortTerm Trade & Long+Mid Term Investing OpportunityStock broke down in the previous triangle pattern due to news regarding chip deficit and is nearing the strong support zone around 285 RS. It may find support and undergo a reversal rally within the current prize channel or breakdown causing further crash. Brokerage Houses around the world are bullish on the stock. Stock is good for traders to enter or for long term investors to enter as this price acts as a strong support zone preventing further downside with upward potential.
Enter The Stock after confirming support around RS 280-290.
Target Price - RS 338-355 (Near the Resistance for *Traders*) (*Investors* Can Hold on to the stock without exiting the trade for medium to long term investments)
Stop Loss - RS 260-250 supported by strong support and 200 EMA below (For *Traders*)
Risk Reward Ratio for Traders - 2:1
DYOR before taking action. No Trade can be 100% Successful. Position Sizing Is Important.
Also note for investors - This is not a Investment recommendation. It is just a good price level to add up stocks or newly invest into TATA Motors due to technical situation of the stock.