Mr Chartist- SEBI Registered RA (Investology)

Gap Down se Dar nhi lgta Saab, Gap Up se lgta hai.

PENIND 211

https://x.com/Mr_Chartist/status/1848018098299019694

Nifty Daily Chart Analysis

Nifty has been trading within an ascending channel pattern for nearly 1 year, and the index has rallied around 34% leading up to Diwali. Currently, the price is near the support zone of this channel, hovering around 24,800. On Friday, Nifty formed a Piercing candlestick pattern, signaling potential for a bullish reversal from this key zone. The upcoming movement around critical levels will likely determine the next direction for the index.

Key Levels and Scenarios
1. Bullish Breakout:
a. If Nifty crosses the 25,000 level and sustains above it, we can expect a fresh breakout from the channel.
b. This breakout could drive the index towards 25,500 initially, with an extended target around 26,200.
c. In this bullish scenario, 24,600 - 24,800 will act as key support levels, backing further gains if the price pulls back slightly before continuing upward.

Bearish Breakdown:
a. If Nifty fails to move above 25,000 and trades below 24,400, we could see a fresh breakdown in the chart.
b. A sustained break below 24,400 could lead to a significant fall, with downside targets at 23,600 and 23,200.
c. In this case, 24,400 becomes the critical resistance level, likely limiting any recovery attempts post-breakdown.

#TechnicalAnalysis #Trading #Investing #Stocks

Subscribe to Investology

1. All in One Plan (AIO)

- Includes:
  - 5 Channels: Short Term Equity, Positional Equity, Commodity, F&O, and Automatic Alerts
  - 1 Discussion Group
- Subscribe Now:rpy.club/g/MlQjNViU3s

2. Equity Only Plan

- Includes:
  - 3 Channels: Short Term Equity, Positional Equity, and Automatic Alerts
  - 1 Discussion Group
- Subscribe Now: https://rpy.club/g/w6tj0mIUKr?code=OLDPRICE

3. Option Only Plan

- Includes:
  - 1 Group
  - 2 Channels: F&O and Automatic Alerts
- Subscribe Now: https://rpy.club/g/SJ0EfTxcEv?code=OLDPRICE

📩 Have questions? Email us at: [email protected]

🔖 SEBI Registration No.: INH000015297

When you look at the charts based on Friday’s movement, most stocks have formed Hammer and Dragonfly Doji patterns. Many stocks are trading near support levels with strong volume and significant buying pressure from those levels, indicating a potential strong upside. However, we need to closely monitor the week leading up to Diwali for further confirmation.

208

📈 Homework📊

NSE:PENIND 201

01. Draw Support & Resistance
02. Read Volume
03. Read Gaps
04. Identify Candlestick Pattern and Impact
05. Analyse Pattern of Different time frame
06. Find Alert Point
07. Find Conclusion

-Practice Makes Perfect

#TechnicalAnalysis #Trading

The market has been following a similar movement to what we saw last Friday. Just like last week, Friday saw a gap down, but this time it went a bit lower before recovering. Last week’s strong fall is a possibility today as well, but not to the same extent very less at the end from upper levels. If you look at the chart, you’ll notice a horizontal support level, and the total movement this week has been around 2%. It seems Nifty is holding flat movement, and if we close higher today, the total change for the week might be around 1%.

In my view, this trend is likely to continue, and although there are some rumors of a strong fall, I don’t see a major drop coming. As I’ve mentioned before, any fall usually starts in small-cap stocks, not large-cap ones. If there is a decline in large-caps, it’s usually not a major sign. It’s often an indication of how management decisions are impacting the market.

Additionally, Hyundai’s IPO is having an impact on the market. Historically, we’ve seen that whenever a big IPO comes in, the market tends to show some bearish behavior due to increased retail participation. We’ve seen this with IPOs like R Power, where similar patterns were observed. While there are bearish signals, I don’t expect a significant downside just yet. However, if Nifty breaks the ascending channel pattern it’s been following, we might see more clarity in market direction.

Ek RIP Head Shoulder Ka Target 12000 Lene walo ke liye... 😛

Wait and Watch...
Eat FiveStar Do Nothing...

Friday/Flyday/Fryday

Mr Chartist- SEBI Registered RA (Investology) pinned Deleted message

419

KHADIM 404

📈 Homework📊

NSE:SURAJEST 800

01. Draw Support & Resistance
02. Read Volume
03. Read Gaps
04. Identify Candlestick Pattern and Impact
05. Analyse Pattern of Different time frame
06. Find Alert Point
07. Find Conclusion

-Practice Makes Perfect

#TechnicalAnalysis #Trading