PowerTrades

PowerTrades

As per the plan BanknIfty was shorted below 17740 levels. Low made was around 17150 which gave a pretty good swing in just 2 days time. Current support as you see was taken exactly at the retracement level. Hence any move above 17450 will be good contrarian long trade for the adventurous ones, and for now that includes me. But be prepared for a quick reversal if...

PowerTrades Updated 

With the Earnings season on, it will be a good idea to test the potential price actions versus the earnings. The charts dont suggest a great outlook. But with the new iphone and the sales figures my take will be that it will beat the estimates. But AAPL being AAPL the expectations have already build up hence price action may not really live upto it unti we have a...

PowerTrades Updated 

NIFTY mostly looks to be in a consolidation zone without much price action. last week we discussed how 8350 could be the resistance, One downside trade opportunity that i see will be to short below 8240 with SL above 8300 levels. Target could be 8180-8130 zones.

PowerTrades

Banknifty opened below the congestion zone range of 17880-17740. This provided the entry point for the short trade. Could only enter the trades around 17700 range. downside targets are about 17570 and 17440 levels. Rest can be trailed.

PowerTrades Updated 

NIFTY marked the planned target on Friday. As a next Step it still look to be a good low risk buy in dips to 8250-60 zones with SL and reversal below 8200. Else wait on the upside for a clear of 8350, after which a zone near 8500 can be potential target

PowerTrades Updated 

Banknifty has a supply zone near 17840-740 range. This will be a good area to take a pull back long with SL and reversal below 17740. That is going to be the plan for a low risk entry. On the upside will take a long of 17950 is cleared convincingly. First target zone will be near 18120-150 zones.

PowerTrades

CNXIT is interestingly poised. A break of 11475 can give a low risk short Trade entry. While on the upside 11650 will hold the key. Current position is Neutral

PowerTrades Updated 

The Long Trade that has been on since the 8200 levels, now will have hard stops placed at 8200 levels. Strong swing supports continue to remain at 8125 zones. Which was the initial stoploss. Lot or factors point out to the fact that 8330-50 can be potential resistance zone. This will be the first target. In case we move above it and sustain a fresh trade can be...