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Nifty 50: October week 1 Weekly Market SetupWeekly Review Nifty 50 declined by 0.18% last week to close at 19,638. The major meltdown was seen on last Thursday (weekly expiry) where the index lost close to 200 points where it touched its key support around 19,495 as per our expectations too. While broadly market is now showing mixed sentiments and is largely looking to be a stock specific trading only. Week Ahead:, On Daily charts, technical indicators shows bulls giving a good fght to pick up pace for what all the gains were lost in previous few weeks. Momentum is starting to build u but higher levels at 19,740-795 remains key hurdle to continue the larger rally. On the lower side 19495, 19438 and 19376 are important support to hold on. From levels perspective, I believe it has been quite a downfall and we should see some uptick or a sideway markets now but to say further the outlook would completely depend on how Q2 numbers starts rolling out and what holds post RBI’s MPC meeting results. *Disclaimer*: I am not SEBI registered analyst and hence the above market outlook is for only educational study and research purposes only. In no way do I endorse this opinion to take a trade or for any investments in markets in any form by any Participant. Be a responsible investor with proper risk management and keep learning as a true focus.
NSE:NIFTYLong
by chandakpulkit
BURGER KING (RBA) Possible long entry The share is making a comeback. Showing some strength after long downtrend. I would accumulate slowly waiting upto a clear confirmation from neckline break in the charts. and most importantly a Golden crossover has already formed. Target price is Rs.200 anytime during the year 2024. Note: Trade with caution! Do not trade solely based on my strategies, these are just individual ideas, kindly consult your investment advisor before taking trades.
NSE:RBA
by StockSession
ANDHRA PETROCHEMICALS 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
BSE:ANDHRAPETLong
by Tradelikemee
NIFTY - A Speculative IdeaThis idea is based on the Elliott Wave Theory - involving the use of ending diagonal pattern. An ending diagonal suggests an end to the ongoing trend (in short-medium term). It involves 5 sub-waves and is mostly broken downwards (or upwards) with a heavy momentum. Overall the market seems to be completing its 5 waves structure too (wave count mentioned in brackets). This calls for a correction where the market retraces back to a previous support level. The Monthly RSI has also moved downwards while the price made a higher wave (inside the diagonal) - this is considered a confirming indicator for an ending diagonal pattern. However, the idea is derived after ignoring some 'noise' on the chart (wicks). The price is also showing a breakout upward, which could right now be considered a 'false' one. Closing of the price inside the structure is what's important. Most technical analysis would point to a bullish scenario at this point as the market has been soaring for the past few months. So this is clearly a biased analysis which first assumes that the market needs to be in a correction now. Any investment or trading based on this needs to be managed properly with appropriate risk/money management.
NSE:NIFTY
by sKeshav
ADANII 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
NSE:ADANIPOWERLong
by Tradelikemee