trademanthan

trademanthan Updated 

TCS has completed a good consolidation phase, now ready to fly till 3440. There will be strong bullish movement above the green line. Below the red line, it will become bearish. A trade can be initiated keeping red line as stop loss. Disclaimer - The above idea is only for education purpose

trademanthan Updated 

On hourly chart HDFC Bank has completed impulsive phase, its corrective phase is to begin, we can expect the target of ~1650 Divergence on RSI is also visible

trademanthan Updated 

BAJAJ Finance could not cross the weekly resistance line and fall from that line was sharp. BAJAJ FINANCE have also completed the motive wave of elliot, the corrective wave is pending. We can take short trade using dotted green line as stop loss and can initiate a short trade in this counter. Disclaimer - The above idea is only for education purpose.

trademanthan Updated 

1. BNF is forming triple top pattern on daily and hourly chart, this can correct till 42200 for further up move. 2. Motive Wave (12345) of Elliot Wave is almost complete, the corrective wave ABC is pending 3. RSI divergence exists at daily chart. 4. If BNF fails to break 44500 decisively, BNF can correct till 42200, so trade with caution Disclaimer - The...

trademanthan Updated 

ITC has exhausted its bull run and indicating divergence on daily chart, Elliot correct wave is also due for further up move. This can lead to fall of ITC below 400 by Aug'23. We can initiate short trade once white line breaks, or we can do now also with SL of 458 Disclaimer - The above idea is only for education purpose

trademanthan Updated 

UPL is showing strong bullish pattern, if it remains above the green support zone, it will complete the wave 3 and we can see bounce till 710, 730. One can initiate long trade with stop loss of 660. Disclaimer - The idea is only for education purpose.

01:59

trademanthan

Five reasons, why you should short BankNifty ? 1. Break of long term trend line (Black color) on 10th Jan 2. It failed to show any strength today and didn't cross the short term trend line acting as resistance (purple), forget about the maroon line resistance 3. Last three candles have lower lows and lower high formation 4. It failed to cross 50 days EMA and...

trademanthan

BNF is forming inverse head and shoulder pattern , One can go long from here

02:34

trademanthan

Nifty is forming a falling wedge pattern, there is a high likelihood Nifty may trade within this channel. During this channel, it may take support and resistance of 17800 and 1800 in between. In hourly chart, Nifty is trading below 50 EMA and 100 EMA which further confirms bearish pattern. How to trade this setup ? 1. Sell call option and choose strike basis your...

trademanthan

There is a possibility of breakout in upside in FinNifty as it has already broke the bearish trend line and taking support of bullish trend line, currently it is trading above the neckline support. One can go bullish once it starts trading above 19100-19110 levels, target would be 19300. The above analysis is only for education and research purpose

trademanthan

HDFC Bank is losing momentum for upside and is trading sideways from last two week. HDFC bank may give slight bounce till 1660 but will retrace to 1540 level. One can open short position once it is around 1650 with losing momentum candle pattern. Target would be 1540. This study is only for educational purpose.

trademanthan

TCS is excellent buy opportunity at current level as it has completed the consolidation phase from recent fall and also have made strong recovery from lowest low of 3160. CMP 3261, Target 3300, 3360 Stop loss 3220

trademanthan

In past few days reliance has break both the trend line and neckline of head and shoulder, currently trading at resistance level 2580, there is high likelihood this will be rejected. CMP - 2575 Target - 2540, 2510 Stoploss - 2610 Disclaimer The above study is only for education and research

trademanthan

Bank Nifty has shown lot of volatility in past few session, now it is neither breaking its crucial support 43000 and resistance of 43400. Today VIX further dropped below 15% which further confirms consolidation for both index. Market will wait for Financial Budget 2023 for further direction. The news of COVID, US Rate Hike, Russia Ukraine war is already factored...

trademanthan

Nifty to remain range bound between 18000 to 18350, There is heavy resistance and support at both side. Nifty will wait for financial budget for further direction Best Strategy for Weekly Expiry -> Sell Call around 18400 -> Sell Put around 18000 Disclaimer- I am not SEBI registered research analysts, the above idea is only for education and research purpose.

trademanthan

In short term, there is opportunity to short Bank NIFTY and it can correct up to 1000 points before moving upward. Short @ 30400 Target 29500 - 29000 SL - 30800

trademanthan

Both NASDAQ and NIFTY is forming head and shoulder pattern on weekly chart and there seems to be strong correlation between these two. Both are at top of right shoulder. Two macro economic development 1) ECB lowers growth forecast 2) 20% down in Chinese export due to subdued demand Liquidate positions in equity and invest into debt fund. There will be sharp...

trademanthan

Reliance has formed head and shoulder pattern and now it is at top of right shoulder, this is perfect time to short RELIANCE, there is very less probability to move upward due to this pattern and global sentiments