COMPARATIVELY LESS PAIN IN BULLS CAMP BUT STILL BEARS ARE AT THEIR BEST...!!!
IN LAST WEEK COUPLE OF STOCKS LIKE DHFL, INDIABULLS HOUSING FINANCE, YES BANK, INFIBEAM WITNESSED FALL MORE THAN 15% IN SUCH SCENARIO IF RETAIL TRADER WHO GO FOR OPTION WRITING THEN THEY ARE TRAPPED BADLY AND FACES MARGIN RELATED ISSUE.
INFACT IN PAST WEEK WE HAD SHARED ONE LEARNING TRADE FOR ALL RETAIL TRADER WHERE THOUGH STRADDLE AND CALENDAR SPREAD TRADE WAS TAKEN IT ENDED UP INTO LOSS THAT WAS JUST TO MAKE EVERYONE AWARE THAT IGNORING CHART STUDY AND BLINDLY TRADING IN OPTIONS CAN BE RISKY (WHETHER BUYING OR WRITING) TO READ THAT BLOG POST CLICK HERE.
ANYWAY WE ARE GOING TO CONDUCT FREE WEBINAR ON BOLLINGER BAND ON 29/09/2018 AT 2000 HRS TO REGISTER CLICK HERE
WE ARE GOING TO START 1st BATCH ON OPTION TRADING FROM 29/09/2018 FOR MORE DETAIL CONTACT US ON 08866145155 OR 09067750730
JOIN TELEGRAM CHANNEL BOT GET FREE POSITIONAL BTST/STBT AS WELL AS INTRADAY TRADING VIEWS...!!!
IN LAST WEEK COUPLE OF STOCKS LIKE DHFL, INDIABULLS HOUSING FINANCE, YES BANK, INFIBEAM WITNESSED FALL MORE THAN 15% IN SUCH SCENARIO IF RETAIL TRADER WHO GO FOR OPTION WRITING THEN THEY ARE TRAPPED BADLY AND FACES MARGIN RELATED ISSUE.
INFACT IN PAST WEEK WE HAD SHARED ONE LEARNING TRADE FOR ALL RETAIL TRADER WHERE THOUGH STRADDLE AND CALENDAR SPREAD TRADE WAS TAKEN IT ENDED UP INTO LOSS THAT WAS JUST TO MAKE EVERYONE AWARE THAT IGNORING CHART STUDY AND BLINDLY TRADING IN OPTIONS CAN BE RISKY (WHETHER BUYING OR WRITING) TO READ THAT BLOG POST CLICK HERE.
ANYWAY WE ARE GOING TO CONDUCT FREE WEBINAR ON BOLLINGER BAND ON 29/09/2018 AT 2000 HRS TO REGISTER CLICK HERE
WE ARE GOING TO START 1st BATCH ON OPTION TRADING FROM 29/09/2018 FOR MORE DETAIL CONTACT US ON 08866145155 OR 09067750730
JOIN TELEGRAM CHANNEL BOT GET FREE POSITIONAL BTST/STBT AS WELL AS INTRADAY TRADING VIEWS...!!!
NOW LETS HAVE LOOK AT WEEKLY CLOSE FOR NIFTY & BANK NIFTY
WEEK ON WEEK NIFTY CLOSED WITH LOSS OF 213 POINTS AT 10930 WHEREAS BANK NIFTY CLOSED WITH LOSS OF 477 POINTS AT 25120
NIFTY VIEW
Lets have look at Nifty Monthly Chart
Different Wedge formations are in place Bulls faced resistance at 11760 (higher end of rising wedge) Now going forward weekly close above 11800 will important milestone for bulls. (Repeat Comment)
Lets have look at Nifty Monthly Chart
BUT GOOD PART IS THAT IN THIS CHART WE CAN SEE THAT T3 TRENDLINE IN WEDGE ACTED AS SUPPORT TIME BEING GOING FORWARD NEXT WEEK SHALL BE IMPORTANT FOR BULLS TO COME BACK. (Repeat Comment)
NOW GOING FORWARD MONTHLY LOW OF 10850 SHALL ACT AS STRONG SUPPORT. WEEKLY CLOSE BELOW 10850 SHALL NEGATE THIS WEDGE FORMATION.
NOW GOING FORWARD MONTHLY LOW OF 10850 SHALL ACT AS STRONG SUPPORT. WEEKLY CLOSE BELOW 10850 SHALL NEGATE THIS WEDGE FORMATION.
FOR SEPTEMBER SERIES WE FEEL THAT BULLS WONT BE ABLE TO LIFT NIFTY ABOVE 11770 (EXCEPT LAST 2 DAYS OF SERIES) (REPEAT COMMENT) (OBLIGED FULLY)
HERE WE CAN SEE THAT IN RISING CHANNEL FORMATION ANOTHER SYMMETRICAL FORMATION IS ALSO THERE BUT AFTER BREAKOUT BULLS DID NOT ABLE TO COMPLETE TARGET NOW 10800-10850 MUST ACT AS STRONG SUPPORT FOR SYMMETRICAL PATTERN TARGET OF 11900-11950 WHICH IS ALSO MORE OR LESS NEAR TO RISING CHANNEL TRENDLINE...!!! (FULLY RESPECTED BY MAKING LOW OF 10850.30 IN PAST WEEK)
GOING FORWARD WEEKLY CLOSE BELOW 10800 SHALL NEGATE THIS VIEW COMPLETELY...!!!
Lets have look at Nifty Daily Chart
Going forward 10870-10800 zone must act as strong support.
IMPORTANT MOVING AVERAGES
IMPORTANT MOVING AVERAGES
Weekly 20, 50 & 100 EMA comes at 11118, 10660 & 10092 respectively.
SUPPORT & RESISTANCE LEVELS
Important levels for next week are 10460-105000-10525-10555-10585-10615-10650-10690-10715-10740-10785-10815-10840-10870-10895-10940-10980-11020-11045-11070-11100-11125-11150-11170-11210-11240-11255-11275-11300-11360-11385-11410-11425-11455-11470-11495-11525-11550-11565-11585-11605-11620-11655-11690-11710-11725-11735-11750 which may act as support or resistance ON DAILY CHART AS WELL AS ON INTRADAY MOVES as the case may be.
CONCLUSION
NEXT WEEK RANGE 10700-11200
Nifty Bank View
Lets have look at Nifty Bank Monthly Chart
NOW WE FEEL THAT THIS CLOSE BELOW RISING TRENDLINE IS BIT PAINFUL FOR BULLS. GOING FORWARD IMMEDIATE SUPPORT COMES AT 24000-24100 ZONE ON MONTHLY CHART AS PER GIVEN NEWLY FORMED EXPANDING WEDGE.
Lets have look at Nifty Bank Weekly Chart
WITH BREAKDOWN IN FALLING CHANNEL PATTERN BEARS MANAGED TO COMLETE TARGET AS WELL...!!! (OLD VIEW)
24500-24400 & 23620-23650 ARE STRONG SUPPORT ZONES.
Lets have look at Nifty Bank Daily Chart
AGGRESSIVE BEARISH PATTERN IS IN FORMATION WHICH MAY LEAD TO MORE PAIN IN BULLS CAMP.
LOOKING AT STRUCTURE LOWER SIDE TARGETS ARE 24930-24560-24260-23960-23600-23000
IMPORTANT MOVING AVERAGES
Weekly 20, 50 & 100 EMA comes at 26691, 25799 & 24082 Respectively.
SUPPORT & RESISTANCE LEVELS
Important levels for next week are 22980-23090-23215-23325-23445-2575-2360-23740-23810-23930-24010-24085-2450-24250-24380-24515-24680-24810-25065-25150-25220-25340-25455-25650-25775-25810-25920-25985-26070-26170-26255-26285-26325-26410-26450-26520-26615-26650-26695-26765-26900-26970-27045-27145-27230-27335-27470-27600-27640-27680-27720-27765-27790-27825-27845-27890-27940-27970-28015-28060-28130-28175-28210-28265-28320-28375 which may act as support or resistance ON DAILY CHART AS WELL AS ON INTRADAY MOVES as the case may be.
TILL THE TIME BULLS ARE MANAGING TO GIVER CLOSE ABOVE 24500 EVERYTHING IS OK BUT CLOSE BELOW THAT WILL LEAD TO FAST FALL TILL 23950.
IMMEDIATE SUPPORT COMES AT 24900.
EXPECTED RANGE 24000-25500
RECORDINGS OF OLD FREE WEBINARS CAN BE FOUND ON OUR YOUTUBE CHANNEL
NEXT WEEK RANGE 10700-11200
Nifty Bank View
Lets have look at Nifty Bank Monthly Chart
NOW WE FEEL THAT THIS CLOSE BELOW RISING TRENDLINE IS BIT PAINFUL FOR BULLS. GOING FORWARD IMMEDIATE SUPPORT COMES AT 24000-24100 ZONE ON MONTHLY CHART AS PER GIVEN NEWLY FORMED EXPANDING WEDGE.
Lets have look at Nifty Bank Weekly Chart
WITH BREAKDOWN IN FALLING CHANNEL PATTERN BEARS MANAGED TO COMLETE TARGET AS WELL...!!! (OLD VIEW)
24500-24400 & 23620-23650 ARE STRONG SUPPORT ZONES.
Lets have look at Nifty Bank Daily Chart
LOOKING AT STRUCTURE LOWER SIDE TARGETS ARE 24930-24560-24260-23960-23600-23000
IMPORTANT MOVING AVERAGES
Weekly 20, 50 & 100 EMA comes at 26691, 25799 & 24082 Respectively.
SUPPORT & RESISTANCE LEVELS
Important levels for next week are 22980-23090-23215-23325-23445-2575-2360-23740-23810-23930-24010-24085-2450-24250-24380-24515-24680-24810-25065-25150-25220-25340-25455-25650-25775-25810-25920-25985-26070-26170-26255-26285-26325-26410-26450-26520-26615-26650-26695-26765-26900-26970-27045-27145-27230-27335-27470-27600-27640-27680-27720-27765-27790-27825-27845-27890-27940-27970-28015-28060-28130-28175-28210-28265-28320-28375 which may act as support or resistance ON DAILY CHART AS WELL AS ON INTRADAY MOVES as the case may be.
CONCLUSION
TILL THE TIME BULLS ARE MANAGING TO GIVER CLOSE ABOVE 24500 EVERYTHING IS OK BUT CLOSE BELOW THAT WILL LEAD TO FAST FALL TILL 23950.
IMMEDIATE SUPPORT COMES AT 24900.
EXPECTED RANGE 24000-25500
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