Bullish on my Long term holding.. Its broken out of a consolidation above 2700 after a VCP was formed for a long time.. T1 3300 T2 3700 T3 4100
You can see a clear VCP forming in DMART. I expect a strong breakout above 4180 Target as per your convenience - i use FIBO for my targets Possible levels up to 5900 which was ATH.
Using PIVOTs, DIY Indicators and Price action to seek confluence and trade. Step1) COnfirmed Reversal from PIVOT point (Daily Pivot) Step2) Observed Higher High, Higher Low Step3) Move above 200EMA confirmed Bullishness Step4) Use Matrix Series and Ehlers to combine with above view and trade the trend. Step5) Use the Support and Resistance Levels on DIY...
Rationale 1) Formed a base with a Higher Low, W reversal pattern 2) Trendline break needed to support upmove.
Good breakout on HindCopper and analysis of WiseTech Global in ASX
Sideways more likely than bearish for today.Watch AVWAP as Resistance and support during the day.
Expect a sideways trend on BankNIFTY this week. Move limited to R1 and S1 on either side of Central weekly Pivot
CCP has formed a base and trading range the last few months. Earnings have been robust though below analyst estimates last few quarters. Earnings will be out on 1st August and could be a catalyst for the stock to move higher. Current Technical resistance is at 24.5 and stock is trading closer to the resistance range. Watch for a good result and stock could move...
Classic VCP and now Cup and handle broken, Retested and reversed. Expect move higher from current levels.
Expect Weekly CPR R3 to be tested today. Video uses a different setup that I have been experimenting with using PVT with CPR and volume.
Tomorrow might take a Straddle at 9.30am after observing markets reaction to overnight Rate event announcement.
Expect a fairly low move expiry on BankNifty as called earlier in the week. Strangles have had good decay so far. No surprises expected in the Repo rate announcement tomorrow given the CPI coming in within expectations. MaxHealth bullish at ATH. Expect a good move to 690 levels.
Nifty is more neutral to Bullish BankNIFTY is neutral for now. Not Bearish till S1 breaks. Expect market to hug CPR and range between R1 and S1 for most of the days this expiry.
Gap covered on Weekly. higher Low formation. Indicates a reversal with better Buy Volumes
Simple trend analysis on daily and intra day basis
Damp Squib FRIDAY. Mostly sideways after a volatile expiry. Expect more trending action next week and bias is still Bullish. Likely to cross ATH.
Expiry however might bring on some pressure on CALL positions later today. Expiry could end up being sideways overall between R2 and R3. Overall sentiments continue to be bullish Dont expect the positions to test CPR again before EOD.
Expect VPOC to provide resistance for both BankNIFty and NIFTY in the coming days and move the markets above R1 and R2. Not Bearish at this point in time. Strong sentiments and momentum seen in line wiht the tight CPR range.