MD & ABN Stocks Trading Ideas

#BANKNIFTY Spot View: 22/10/2024
CMP: 51962.70
Moving AVG (EMA) 20 Hour & 40 Hour: 51876 & 51779
Moving AVG (EMA) 20 Day & 40 Day: 51901 & 51852
Support & Downside Range: 51645—51445 zone, 50995
Resistance & Upside Range: 52330—52610--53000
Short Term Trend Reversal Level: --

Trading View Summary:
• For today’s intraday trading session key level to watch is 51645--51445 support zone.
• As long as BANKNIFTY is trading above this support zone its trend remains bullish and buy on dips for upside minimum 52610 to 53000 spot levels.
• Whereas after opening if 51645—51445 breaks on 1hr sustain basis then for remaining hours of the day trend turns sideways to lethargic.

#NIFTY Spot View: 22/10/2024
CMP: 24781.10
Moving AVG (EMA) 20 Hour & 40 Hour: 24810 & 24867
Moving AVG (EMA) 20 Day & 40 Day: 25114 & 25092
Support & Downside Range: 24690--24567
Resistance & Upside Range: 25060—25235
Short Term Trend Reversal Level: -- 25235

Trading View Summary:
• For today’s intraday trading session key level to watch is 24690—24567 support zone.
• As long as NIFTY is trading above this support zone we have to assume that market has formed a short term bottom and now we are heading upside towards minimum 25060 to 25235 spot levels.
• Whereas after opening if NIFTY breaks 24690—24567 on closing basis then once again we may see fresh selling pressure to start in the markets.

Har Har Mahadev !!

Good morning everyone 💐

#TRENT @ 7690 WAVE UPDATE
It seems at recent ATH 8340 stock has completed wave 1st of 3rd and now it has started the pullback move in wave 2nd of 3rd.
Weekly RSI showing NEGATIVE DIVERGENCE on RSI front.
Now upside 8340 has become new base RESISTANCE if stock fail to move above this resistance zone then it can give pullback towards minimum 4748 to 3600 as part of wave 2nd of 3rd which it can comes in next couple of MONTH.
NOTE: if stock gives weekly close above 8340 spot levels then will have to re visit the wave counts for next direction. But if stock holds 8340 then this view remains open for next couple of months.

#NIFTYIT @ 42060 WAVE UPDATE
Current wave formation showing that NIFTIT has completed wave 3rd of 3rd at recent high of 43750 and now its in middle of wave 4th of 3rd which is completed or about to complete soon in next couple of days.
Downside now 41400-41000 are crucial support to watch whereas 38500 should act as trend reversal support.
As long as NIFTYIT is trading above 41400—41000 larger trend remains bullish for upside minimum 48335 to 49940 spot levels.
Once it moves above 43750 which is recent ATH we may see some upside trigger in the IT pack.
Fresh weakness starts if it breaks 41400—41000 on daily closing basis.

#CANFINHOME @ 857 WAVE UPDATE
Stock is in middle of wave 5th of 3rd larger degree and this wave 5th of 3rd has formed ENDING DIAGONAL which is completed at recent high of 955 or it can complete around the upside band of trendline which is around 1055 and anywhere from this zone it can complete the rally and starts correction towards minimum 395 and maximum 210 spot levels.
Avoid this stock for trading and investing for time being till it gives further confirmation of its technical formation

#NIFTY Spot View: 21/10/2024
CMP: 24854.05
Moving AVG (EMA) 20 Hour & 40 Hour: 24843 & 24906
Moving AVG (EMA) 20 Day & 40 Day: 25149 & 25108
Support & Downside Range: 24690--24567
Resistance & Upside Range: 25060—25235
Short Term Trend Reversal Level: -- 25235

Trading View Summary:
• For today’s intraday trading session key level to watch is 24690—24567 support zone.
• As long as NIFTY is trading above this support zone we have to assume that market has formed a short term bottom and now we are heading upside towards minimum 25060 to 25235 spot levels.
• Whereas after opening if NIFTY breaks 24690—24567 on closing basis then once again we may see fresh selling pressure to start in the markets.

Har Har Mahadev !!

Good morning everyone 💐

#ELCONENG @ 623 WAVE UPDATE
Stock showing major breakdown of an ending pattern after completion of wave 5th.
Avoid this stock for next couple of months as it seems stock has completed its one bull cycle and now it can go in a bear market correction for time being.

So far Nifty 4hrs candle looking lush green lets see what candle close we get by the day ends.

#NIFTY @ 24720
Now downside 24650 spot has become intraday mom dad support. As long as nifty is trading above this support zone its trend for remaining hours of the day remains bullish for upside 24920 spot levels.
Only 1hr sustain below 24650 trend goes sideways.

#NIFTY @ 24650 UPDATE
Positive divergence is visible on 4hr charts. Which means once we get a positive 4hr candle or a daily close it could be a sign that we might have form a pause in on going selling so next 4hr or today’s close is imp to watch.

#BANKNIFTY Spot View: 18/10/2024
CMP: 51288.80
Moving AVG (EMA) 20 Hour & 40 Hour: 51523 & 51571
Moving AVG (EMA) 20 Day & 40 Day: 51884 & 51838
Support & Downside Range: 51100—50800--50500
Resistance & Upside Range: 52050--52325
Short Term Trend Reversal Level: --

Trading View Summary:
• For today’s intraday trading session key level to watch is 51100--50800 support zone.
• After opening if 51100—50800 manage to hold then we may again have chance to move upside towards 52050 and above levels in days to come.
• Whereas after opening if 51100—50800 breaks on sustain and closing basis then once again we may see more selling pressure to build in BANKINDEX and we may see more downside levels in days to come.

#NIFTY Spot View: 18/10/2024
CMP: 24749.85
Moving AVG (EMA) 20 Hour & 40 Hour: 24891 & 24961
Moving AVG (EMA) 20 Day & 40 Day: 25180 & 25121
Support & Downside Range: 24690--24390
Resistance & Upside Range: 25235
Short Term Trend Reversal Level: -- 25235

Trading View Summary:
• Despite of stable global markets we are seeing continues selling pressure in our markets on daily basis since last couple of days.
• Now for today’s intraday trading prospective key level to watch is 24690 on intraday 1hr sustain basis as well as on closing basis to get further clarity about the market direction.
• If 24690 manage to hold then we still have a chance to bounce and moves towards 25235 and above levels.
• Whereas if we breaks 24690 on 1hr sustain basis and closing basis then chances are high that we may see 24390 and below levels in days to come.
• So understand the importance of 24690 spot levels on sustain and closing basis.

Har Har Mahadev !!

Good morning everyone 💐

#BANKNIFTY Spot View: 17/10/2024
CMP: 51801.05
Moving AVG (EMA) 20 Hour & 40 Hour: 51791 & 51699
Moving AVG (EMA) 20 Day & 40 Day: 51947 & 51866
Support & Downside Range: 51560—51300--51000
Resistance & Upside Range: 52325--52840
Short Term Trend Reversal Level: --

Trading View Summary:
• For today’s intraday trading session key level to watch is 51560 support zone.
• As long as BANKNIFTY is trading above 51560 we have a chance to get upside move towards 52325 to 52840 spot levels.
• Whereas after opening IF BANKNIFTY breaks 51560 then once again we may see a sideways trend during the day.

#NIFTY Spot View: 17/10/2024
CMP: 24971.30
Moving AVG (EMA) 20 Hour & 40 Hour: 25021 & 25045
Moving AVG (EMA) 20 Day & 40 Day: 25225 & 25140
Support & Downside Range: 24920----24690
Resistance & Upside Range: 25235--25490
Short Term Trend Reversal Level: --

Trading View Summary:
• For today’s trading session key level to watch is 24920 as support zone.
• As long as NIFTY is trading above this support zone it may try to move upside towards minimum 25235 to maximum 25490 spot levels.
• Whereas after opening if 24920 breaks on 1hr sustain basis then once again we may see a weakness to come in the market.

Har Har Mahadev !!

Good morning everyone 💐

once again same old story no movement in the market just trading in 100 points range and no indication of clear direction so far

#BANKNIFTY Spot View: 16/10/2024
CMP: 51906
Moving AVG (EMA) 20 Hour & 40 Hour: 51710 & 51619
Moving AVG (EMA) 20 Day & 40 Day: 51962 & 51870
Support & Downside Range: 51560—51300--51000
Resistance & Upside Range: 52325--52840
Short Term Trend Reversal Level: --

Trading View Summary:
• For today’s intraday trading session key level to watch is 51560 support zone.
• As long as BANKNIFTY is trading above 51560 we have a chance to get upside move towards 52325 to 52840 spot levels.
• Whereas after opening IF BANKNIFTY breaks 51560 then once again we may see a sideways trend during the day.