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Nifty as anticipated has gapped up straight into resistance zone and is struggling to find momentum. I'm anticipating a failure from the highs through a price action and price to re-test the trend line drawn. I have taken positions for December first week expiry though. 23900 PE bought for 05th Dec expiry.

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Nifty closed the previous week rather Bullishly forming a Bullish Hammer Weekly Candle. This is a strong sign of reversal to the upside. The Daily candle closed strong enough to take out all the Bears from the previous 5 days. This should give you the sign of strength for Nifty which has taken support from the 200 DEMA. The intermediate trend seems to have...

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BN ended the previous week on a positive note taking a much needed and anticipated support from the 200 DEMA. For now, even though the intermediate trend has changed to Bullish, in my view the master trend still continues to be on the Bearish side. So, when will that turn Bullish? When 52,400 is breached strongly on the upside. Technically, once price...

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BN is showing signs for a sharp long reversal. I have taken an OTM call buy 50,800. Target is 50,935

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Notice how in the first half an hour of todays trading session itself, BN has taken out all the weak buying liquidity from the last three days. If BN ends up with a totally Bearish Daily candle by the end of the day (O=H) candle, a short swing position can be initiated for Target till 48,606.

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Axis Bank has witnessed a clear rejection from the Daily Pivot. It's already trading below the Monthly Pivot and Weekly Pivot. A short intraday trade has been initiated for Target till Daily S2 support zone at 1,114.8 If Axis Bank ends up forming an O=H candle by close of trading day today, then a swing short position can be initiated for this month's...

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HeroMoto is showing Bullishness from the Lows and is clearly reversing. This is a short term bullish reversal. Notice how on the Hourly basis, the price is clearing breaching the resistance. A Long Swing type trade can be taken for a target till 4953. However, ensure to enter only once the hourly candle closes positively without any wick.

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Bajaj Finance is showing good amount of weakness. The Monthly Pivot was rejected on 7th November 2024. After this there was a straight fall to test Previous month Low ~ 6601 Now, the price is failing to sustain that level and showing a clear weakness of the hourly chart. I have taken a short position with Target - 6415 which is a Weekly support...

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Reliance is clearly Weak and is the main contributor for Nifty crash along with TCS. Reliance has rejected the Weekly Pivot which is a clear sign of weakness. I have taken a STBT type short on Reliance with a target to 1228.

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Bharti Airtel looks Weak and has been selling off right from the start. As you can see it has clearly rejected the Weekly Pivot which is a sign of weakness. I have taken a short position for Target till 1526 level only. This could either work out Intraday or STBT.

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Like, Nifty Bank Nifty also continues to be Bearish. However, here the fall is quite distinct after being in a channel. (Refer to my Nifty Pre market report). BN has broken that channel and now the next support could be in the form of the Daily Trend line as shown. Presently, the 200 DEMA could act as a mild support. For the current week, I expect BN to...

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Nifty closed the previous week with a strong Bearish candle continuing the bearish sentiment that has been prevailing in the markets from 30th September, 2024. As we can see in the Daily Charts, there has been continuous selling each week. We have already witnessed 2 complete legs of selling from the top. I believe we could be now in the 3rd leg of selling....

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Maruti is showing intraday weakness. Clear rejection level from Daily Pivot. Target - 10,900

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Clear rejection of Daily Pivot level on Nifty similar to BN. Intraday short has been taken for quick target to 23,420 only.

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I have taken an Intraday short position on BN. Clear rejection from Daily Pivot zone. Target - 49,545

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Like BN, Nifty too had crashed severely yesterday. After the considerable fall yesterday has now reached a vital Monthly Support Zone which also has a strong confluence with the 200 DEMA. There was some last minute buying activity that happened yesterday which would mostly have been profit booking for all short positions. Again, it would be advisable to not...

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BN after the considerable fall yesterday has now reached a vital Monthly Support Zone which also has a strong confluence with the 200 DEMA. There was some last minute buying activity that happened yesterday which would mostly have been profit booking for all short positions. Today, my view is that BN could remain in sideways territory after the great fall. In...

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LTIM is a resilient IT stock amidst a falling Market. The price action on this scrip has been quite Bullish this month. Those looking to play in the F&O s pace can build a long position once price closes above 6000 level today or tomorrow. Target would be 6300. Either go for an ATM or slightly OTM option.