Price Action Analysis

[Rishi_Trader]

Each time previous Swing high broke it failed leading to new low. But near end of session this pattern was broken, Banking stocks pulled Nifty and price sustained above last swing high.
For me immediate trend is up now till 18150 is broken. Below 18150, 18070 will offer support.

 

[Rishi_Trader]

18000 - 18200 is the range, increasing lower tails in daily suggesting buying to overpower selling soon.. wait for higher high higher low after open above 18200 then we can have 18400 else we will be in range today also 18000 - 18200.

 

[Rishi_Trader]

Immediate trend is up till 18250 is broken, will be looking to buy around 18350, 18400. Below 18250 will be looking to short till 18100 which is a buying zone now.
For past many days initial buying is overtaken by selling in first hour itself and then buying comes at lower levels. Lets see if this pattern changes or not, watch first hour... if strength in up persists we will have a trending day closing at high, else buying then selling then some buying again in afternoon, short targets.

 

[Rishi_Trader]

Stock i will be watching - Dmart for long above 4600.

 

[Rishi_Trader]

My analysis of Nifty 50 Futures/ Market Analysis in Daily time frame -

https://in.tradingview.com/chart/NI...-Futures-Market-Analysis-in-Daily-time-frame/

 

[Rishi_Trader]

For those trading Intraday -
1. Immediate trend is down -
a. Short @17900 if crosses from above.
b. Short on break fail of 17940/17950.
c. Short on weak Pullback to 17850.

 

[Rishi_Trader]

My analysis of Nifty 50 Futures/ Market Analysis in Daily time frame -

https://in.tradingview.com/chart/NI...-Futures-Market-Analysis-in-Daily-time-frame/

Updated analysis of Nifty Futures.
https://in.tradingview.com/chart/NI...-Futures-Market-Analysis-in-Daily-time-frame/

Immediate momentum is down only.
Those who trade Intraday -
1. Fridays closing was weak, down momentum is likely to continue.
2. Short on -
a. 17800 break fail.
b. Below 17680 is it sustains.

 

[Rishi_Trader]

Todays plan of action -

https://in.tradingview.com/chart/NIFTY1!/orcZDM8R-Nifty-50-Futures-Intraday-Trades/

Immediate trend is down. Market is making lower high lower low against support 17650 which means it is getting weaker, break of 17650 likely.

Today's possible trades -
1. Enter short on break fail of 17800 for target 17700 and
17600.

2. Enter short below 17650 if it sustains below it.

3. Long above 17850 only if it makes higher high higher low.

 

[Rishi_Trader]

Buying after a good result expecting up move ? Not a wise thing to do ...

https://in.tradingview.com/chart/TC...r-Good-result-in-a-stock-This-is-for-you-TCS/

 

[Rishi_Trader]

Axis Bank analysis -
https://in.tradingview.com/chart/AXISBANK/b6OyQK6f-Axis-Bank-Analysis/

Trade setups -
1. Short if it sustains below 745.
2. I will not be looking for buying in this as it is very weak, any up move will be sold.