AM_Tradepicks

AM_Tradepicks

Bank nifty last week tried to break out of the downward channel. It was not supported by nifty and so the fall was huge in the last two weeks. Even though it has recovered, it is not strong enough for a break out. It is almost near 100 % retracement levels, which in itself is a strong support. How to trade next week? Banknifty needs to touch the upper...

AM_Tradepicks

Nifty had to touch 17270 - 17320 levels before any downside move can be expected! Nifty has been moving in a downward channel the last few weeks and has consistently made lower highs and lower lows. Nifty on the upside is to have significant resistance at 17320. Any closing above that on a daily time frame is a sign of a new bull run as long as its able to...

AM_Tradepicks

Stock has moved consistently in a downward channel and it has started the upmove from swing low. Though stock is in down trend, the upmoves in this stock are always fast. Expecting a target of 4782 tomorrow itself, which is the channel resistance. Entry: strictly below 4575 (otherwise the RR is not favourable) SL : below the broken trendline at 4380 Trail the...

AM_Tradepicks

Hey guys! Our weekly target of 16696 was hit on Monday itself due to a gap down and fall in nifty. Yesterday and today, the markets have recovered and started the move from swing low to swing high. Therefore, the expectation tomorrow is bullish with a target of 17024 and 17170 after which nifty has the decide the direction. However, the trenline is important...

AM_Tradepicks

Nifty has failed to break the trendline resistance on Monday. Nifty was moving in a channel the last 2 weeks but finally it closed below the channel support region on Friday. Therefore, we can see Nifty continue its down trend and touch 16696 level which is the 618 fibo levels where there is a chance for reversal of the downtrend. However, until that, fresh...

AM_Tradepicks

SBI Cards has fallen 240 rs from all time high and has hit an important support zone. We can expect a sharp, quick reversal from here and a continuation of the unmove on breaking and sustaining above the trendline. For the short term, the target is 946 with a SL at 868. Entry can be made on Monday depending on opening and checking the RR. However, even after...

AM_Tradepicks

Last week, the view on Adanient was short since the stock couldn't break out of the resistance and it had to move back to support from where it can try again move up. Further since the view on index was also bearish, the trade was executed with confidence. On Friday, the stock hit our target of 1640 to the dot and then retraced a little. From here on, we can...

AM_Tradepicks

Last week, Wednesday, the view on Bank nifty was short with 3rd target being 36000. On Thursday target 1 and 2 was hit and Friday we hit the 3rd target. For the upcoming week, we can expect the present trend to continue. Any long positions can be taken only on day candle closing above 36552 and sustaining above it. On the down side, support can be expected at...

AM_Tradepicks

Nifty is moving in a channel and has made a bearish candle from swing high. This week's movement looks to be downwards with possibility of touching 17100 levels by Thursday. We can expect a reversal only after nifty touches the 17150 - 17050 levels. Breaking of 17000 levels can happen only after nifty retests the trendline resistance and any bull run can happen...

AM_Tradepicks

The stock is consistently respecting the trendline resistance and support zone and is making swings between the two. Yesterday it tried to break the resistance but failed. Today, along with the Index, it made a strong bearish candle. Expecting 1620 levels soon. Decent trade with a 1:1.5 RR. Check the chart for entry, SL and targets.

AM_Tradepicks

Bank nifty has given a break out in the 1 hr TF chart but while looking at the larger picture, the weekly chart suggests that it hit the resistance trendline and retraced a bit. Unless it breaks the trendline on Monday or Tuesday, the upcoming week can end up being a red candle. SBI, ICICI and HDFC bank have given a break out and therefore we can except Bank...

AM_Tradepicks

Waiting for Nifty to break out this week for taking fresh long positions. It has been resisted multiple times and has created a trendline. A strong breakout will lead to continuation of the bull run. While bank nifty has already given breakout, hoping nifty does the same. The down move from the all time high, is just a retracement when looked on a higher...