AkashVarma

AkashVarma

Multi Time Frame Analysis - 5 min - Clear sideways narrow zone - 24220-24020 15 min - Close at the major resistance trend line 1 hour time frame - Major Channel gave support Now for tomorrow, Global Cues - Dow retesting, 26500 support zone E100 also roaming around support. (Dow and E100 analysis done in previous posts) Scenario's for tomorrow - Important...

AkashVarma

Multi Time Frame Analysis - 1 hr TF - Support has been tested for 3 times. A breakdown is likely. 15 min - Clear no trade zone between 24600-24300 (high premium decay) Banknifty's previous low was protected but Nifty low of 11710 was broken. Global Cues - Absolute bloodbath in the global markets. Dow and E100 both are trading under crucial levels. Dow broke...

AkashVarma

For second half trading ideas during live market hours for NIFTY and BANKNIFTY (market opens at 12:30pm IST)

AkashVarma

The market began it's journey to the top on 4th August, 2020. After the clear breakout of the flag pattern on 21st August, the rally continued. Reaching the top on 3rd September. It couldn't break the record high and later came down to those same levels for a bounce back. The second attempt to reach the high was made on 13th October, but failed to do so....

AkashVarma

Global Cues - Dow Jones has consolidated after having breakdown of the support channel of 28100-28000 and took support at 27250-350 channel and moving towards it's support which can now act as a resistance. 7 days until the US election and we can already witness the volatility. E100 has broken it's support on the downside but has made a strong bullish candle...

AkashVarma

Missed out on the post analyzing today's market. The market was getting into a really narrow range and hence the breakdown resulted in a good fall. Now for tomorrow, Global Cues - The global markets are showing a push towards the downside with the Dow constantly trading under the channel of 28100-28000 The E100 is also in a tough zone and trying to retest...

AkashVarma

As discussed yesterday, a clear range bound market was present. Being expiry, option selling (strangle) was the best way forward. 24600-24400 was the narrow range in which the market moved. It broke the channel during the end of the day but later retrieved back to the channel. Ending the day inside of the channel is a clear indication of buying pressure at...

AkashVarma

As discussed yesterday, got an opening above our consolidated channel and got a clear trade till 24800. Today's trading day was filled with heavy volatility. Saw a movement of 400+ points on both sides. Clear no trade zones can be identified on the 5 min chart - (24800-24700) on the upside and (24350-24250) on the downside. Scenario's for tomorrow - Gap Up...

AkashVarma

As discussed yesterday, buying the dip was really fruitful. Global Cues - The hopes of a stimulus are slowly fading away with about a fortnight left for the elections. Dow has retested it's 28000-28100 low and bounced back. Another strong decline can prove to be lethal with the volatility set to increase. Clear consolidation in the second half without much...

AkashVarma

As discussed yesterday, got a clear buy trade (buying the dip) after a huge gap up which by default cleared all our preplanned levels. A close above 24200 is a strong sign that in the coming days we will reach for really high levels (25k and above) Now for tomorrow - Searching for buying the dip opportunities. 24100 and 24000 will be interesting levels to...

AkashVarma

This week can be a really tricky one. We are edging closer towards the US election, new lockdowns in France and London and various other event will have a huge impact on the markets. We clearly saw a double top formation on both the indexes. Expecting some range bound market as the huge engulfing candle will lead to consolidation. Personally would trade with...

AkashVarma

As discussed yesterday, the major channel played a key role and from that we took support for a fantastic 400+ points Now for tomorrow - The market is definitely positive. The loan moratorium went in favour of the banks and we can see the response. SGX Nifty is trading above 12k Dow Jones Futures are in a mix due to mixed banking results A close look to...

AkashVarma

As discussed yesterday, news was an important factor. Though the decision has been postponed for tomorrow, the markets got heavily volatile. Price Action Lessons from Today - The green pattern, Making a lower end at S2 pivot level An higher low near S1 pivot level Clear breakout of morning high and trend till previous day's resistance The red pattern, (M)...

AkashVarma

As discussed yesterday, got a clear trade by following price action at the important resistance (24000-24100) Got a triangular pattern (higher lows and lower highs) on the 5 min chart We even got the trendline breakdown on the 15 min chart of the previous trend and now we have taken support on the major trendline being followed since 1st October, 2020. Now...

AkashVarma

Things didn't go as per plan and hence had a sober trading day. The value of doing this analysis is to have a rational mind and clear plan. Our psychology is the most important while trading and hence we should respect whenever the market goes against our plan. Now for tomorrow - Dow is showing no sign of weakness and respecting an upward trend line since...

AkashVarma

As discussed yesterday, we took support on the major channel and had a good up move On the daily chart a clear inverted hammer has been formed. Similar to that on 5th October, 2020. But in the previous case we got a gap up opening and the follow through selling after the hammer wasn't there. Scenario's : For Gap Up - Would personally not take any trade as...

AkashVarma

As discussed yesterday, for a flat to gap down opening, we were going to sell till 22600 and then expecting a bounce. Our plan was almost perfect, the bounce was as expected. Now for tomorrow : On the 5 min chart, a clear inverted triangle is being formed. The range is getting pretty narrow but expecting it to have a sober breakout or breakdown. It has...

AkashVarma

As discussed yesterday, got an early morning move at the resistance Had previously stated on lowering the quantity of trades as it was expected to be range bound During the end of the day, we got a clear breakout from our resistance of 22700-22750 And now for tomorrow - The 1 hour time frame is at a really interesting point, We have been forming supports...