traders_pit

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

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

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

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

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

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

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

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

traders_pit

In hourly Nifty Chart, there is a Doji and Nifty is opening gap up for 6 days now. A good time to book longs and actually go short. If you are still long, then please place a sensible stop loss. For those who are initiating source. 12000 in spot prices will be a good stop loss.

traders_pit

There is positive divergence in BankNifty Spot on 30 min chart. With the consolidation happening above 22000 spot prices, it is an easy long with stop loss just below 21800 in spot prices. Target - 23200+

traders_pit

Bank Nifty spot took support near important levels of 21000-20900. A good buy zone. With rising RSI on hourly chart and channel formation on daily chart, it's a good long with SL below 20900. The near term target is 24000.

traders_pit

A good pattern is developing in divergence. NIfty can down swiftly by around 100 points. Stop loss is day's high. All prices in SPOT Please use your own discretions, the chart is shared for learning purposes only.

traders_pit

Banknifty is all set on daily charts for a strong up move of nearly 2500+ points. Right now, it needs to close above 18200 to start the next leg of up move. 18200 is high above May 19 high of the day.

traders_pit

BankNifty taking multiple supports, not able to break recent lows. RSI posivitve divergence. A very strong chance to BankNifty touching 22k in few days. Stop loss is recent low of May 12th.

traders_pit

BankNifty has managed to close above the trend line. The volume is good and it didn't break the day's low which would have again put it into a range. It's long with today's low (19500) as stop loss

traders_pit

Nifty and BankNifty gave clear breakout signal. NIfty is long now along with Bank nifty. RSI positive divergence with channel breakout is there on 30 min timeframe. This is supported by 1 hour time frame too.