ALERT – NIFTY – BULL AND BEAR FIGHT – HEAD & SHOULDER PATTERN

Nifty

Dear All,

Nifty has made a Head & Shoulder Pattern. Above is a 4 Hr Chart for the same. 17600 level needs to be watched closely. Bulls need to protect 17700-17600 levels. Any fall below 17600 levels will bring nifty down to 16700-16600 levels.

H&S PATTERN EXPLAINED

The head and shoulders pattern is a technical formation that indicates a trend reversal is underway. For traders, it is an extremely useful pattern, whether they are trend trading and want to be alerted of potential danger or they want to catch a trend reversal near the turning point.

SID

BANDHAN BANK – LONG TERM BUYING PROSPECT

Dear All,

On Charts, Bandhan Bank has moved into sideways correction for a long time now. Wave 1 has been completed after making 5 moves as a diagonal. Price is running into Wave 2 since 30.11.2020, Almost a year of correction phase after an impulse, Price retraced up to 61.8 fib ratio. There is a possibility, Price might retest those levels or another possibility of breaking down those levels to take out all the liquidity present below the double bottom support levels. Definitely buy on dip strategy for a long term target of 690-700 !! SL will be 190 Levels.

Please manage ur risk accordingly.

Please find below the weekly chart of Bandhan Bank for your reference.

Learning Here – Elliot wave Analysis.. Wave 1 – Diagonal, Wave 2 Correction !

Demand Zone Marking.

Cheers

Sid

DIXON TECH – BREAKOUT TRADE

After a decent run upside, Stock has went into consolidation zone since 18th March 2021 till 20th June 2021. Staying in consolidation zone for almost 3 months, finally it has given breakout today. Now the important question is will it sustained?
DIXON DAILY CHART
DIXON 30 MINS CHART
There are 2 ways of entry to this stock – 1. Above day high which is swing high 2. At Breakout Retest level I’m waiting for the entry!! Cheers Sid

NIFTY HAS OUTSIDE BAR ON HOURLY – LOOK FOR BREAKOUT

Cheers Sid

BAJAJ FINANCE BULLISH MARUBOZU CANDLE SETUP

As I said in the last post of mine, that Bajaj finance has a good setup and can look for a breakout. Today the stock has given breakout above the swing high level of 3556.85 and given a closed at 3658 levels almost 100 pts up. Price closed almost near to high of the day. To find out the resistance level, I have drawn Fibonacci retracement level on the weekly chart as per that 61.8 level has come to 3735 levels. We can Target 3735 levels. Bajaj Finance can be look for Intraday buy setup for tomorrow as well, Momentum should continue. Please find below Weekly as well as Daily chart for your reference.
Bajaj Finance Weekly Chart
Bajaj Finance Daily Chart
Cheers Sid