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traders_pit

RSI is showing divergence on 15-min, 30-min chart. More or less looks like a good upmove today by the day end and tomorrow(8th Feb). Carrying next week CE with stoploss just a little below today's low. Please follow your own strict risk management rules to take risk in this trade.

traders_pit Updated 

On hourly chart, RSI is weakning and Nifty futures are trading in a range all day. A break of Monday low (September 6), shall lead to a breakdown in Nifty - All the way to 17000-16900. Time to be very careful about going long this week.

traders_pit

Banknifty is nicely following this trendline. A strong up-move to 38k-40k is still pending. The only thing it needs is a closing above 36300-36350 Now that Nifty is at ATH. Banknifty has lots of catching up to do.

traders_pit Updated 

Kotak Bank is forming a tight range from the last many trading sessions. Multiple times it has tested support at 200 EMA. Also, it's forming higher lows with each bar as clear from the bottom trend line. On breakout above the top trend line, it can show a good move till 1900-1950+ in short duration. From the breakout done by Banknifty - the move is imminent....

traders_pit

Nifty is in a Bullish trend and will create a new All-Time High very soon. But looking at the chart it looks that an intraday profit booking will come to touch the blue line. Longs be careful.

traders_pit Updated 

ETHUSDT pair is trading near trendline resistance now. The way Bitcoin just broke out of resistance, it seems ETH will follow suit soon. Your views welcome

traders_pit Updated 

Nifty Auto Index gave a very strong breakout in the Daily chart. The previous high was 11000 - which also makes it the target of this breakout. high chances it will create a new high very soon. Good time to be long in auto stocks.

traders_pit Updated 

Banknifty just broke out of a strong resistance with volume. From the looks of it, a 1000+ points rally is coming up within few days. Time to be long with today's low as stop loss.

traders_pit

NIFTY has a good support level. If it breaks, then fall will be deep and quick up to 14900-14700 levels. Though the volume and RSI are showing that this support will hold and we may see an up move from current levels. Going long with a stop loss a little below the day's low. Shared about 14950 as strong support in the newsletter too

traders_pit Updated 

On January 15 (friday) Nifty closed in negative by more than 160 points. It even made a low of 240 points more but recovered by 80 points to close at 14434 (spot prices). The correction is not over yet. There is a definite bearish RSI divergence in hourly bars as well as a breakdown in the 1-hour chart frame . The nearest support is at 14200, which I think...

traders_pit Updated 

Reliance ( NSE:RELIANCE has been trading in a closed range for many weeks now. It took multiple support at 200 Moving Average. And formed a base near 1880-1920. Volume in the cash segment is quite good too. Now it looks ready to break out of the wedge formation anytime soon and reach the near-term target of 2300+ and then creating an all-time high in weeks to...

traders_pit Updated 

SBI has given a clear flag breakout in the daily chart with good volumes. This pattern breakout is one of the best chart patterns with a good success rate. Now, time to watch how soon it will reach the expected target of 320-325

traders_pit Updated 

A strong volume in cash market of CIPLA and technical breakout at 758 level will show a strong quick jump to 790+ in prices. Looking good for long. Stop loss will be 740.

traders_pit

Unless nifty breaks out of 13200 on the upside or 12750 on the lower side, it is going to be a range-bound week. Easiest will be to trade in this channel itself.

traders_pit

Right now Nifty support of 12950 has proved to be quite strong. Even on the hourly chart. So an attempt will be there to touch the recent high of 13140 (9spot prices) Once 12950 is gone on the downside, we may see a rapid fall to the next support of 12750. Slightly risky traders might have an intra long trade till 13050 or so with stop loss strictly at 12950-940.

traders_pit Updated 

NIFTY is trading very close to the recent support at 12750. If it breaks, Nifty will fall sharply. Before that there can be an attempt to retrace back to 12950-13000 in spot prices. So if you are not in trade, you can take 12750 as a stop loss to go long for 100-150 pts. else you can wait for 12750 to break for shorting nifty.

traders_pit Updated 

A good volume is there in the cash segment of reliance. On the technical side - RSI is showing good support to this volume. 1980-2000 is good support. Reliance is weak only below 1980 on a closing basis only. It is a good point to go long with stop loss below support.

traders_pit Updated 

Banknifty had support at 23800 at spot prices. Which was maintained in the fall on Monday - October 26. Even when Nifty broke below the support of 11780750, Banknifty rebounded from its support. Today also the support was maintained and the rebound was strong. It's now entering in the bullish zone. And near term target is 25000-25200