BANK NIFTY OUTLOOK MAY 2024

BANK NIFTY:

Trading in Rising Wedge Pattern, Currently for the May 2024 Series Stiff Resistance seen at 50200 Levels, Till Bank Nifty Closes above 50200 One should be take long positions on the banking stocks and Bank nifty. On the lower Side Support is seen 47100-47250 Level. Till Bank nifty closes below 47250 Long term investors should continue to Hold banking stocks.

How to Select Stock For Intraday Trading.

 

SECRET SAUCE FOR INTRADAY MARKET

Video Highlights

1. How to Select Stocks for Intraday.

2. Which Stock has Great Potential to Move in Intraday.

3. How to Keep Watch on Overall Market.

4. Which Indices to Track.

5. How to Plan your Trading.

CHANA NCDEX Short Term Views

 #CHANA NCDEX (23-Sept-2020)

🟢In the month of August 2017 Touched High of 6428 and in month of June 2018 Touched Low of 3245 Correction of 3183 Points

🟢 When Fibonacci Series (Read on Google to Read more for Fibonacci Series) is placed on from High to low (6428 to 3245)  

🟢 See from the attached Chart CHANA Has crossed 61.8% Fibonacci levels @ 5212 (Short Term Support)

🟢 Fibonacci 50% Level @ 4836.5 will act as strong Support for CHANA from here.

🟢 Now the levels for upside up to 78.6% i.e. @ 5746 is open. Once Sustains above 5212 for 1-2 Weeks We can see Another leg of rally from here.

🟢 Note that Best buying levels for long term i.e. 3-6 Months are 4836.50-4900.

Nifty Short Term View (22-Sept-2020)

 NIFTY ON 22-SEPT-2020 On the short term basis Trading at support Levels, Till Nifty Future Hold levels of 11090, One Can See some buying in the Market and Nifty Fut Can Head Towards 11250-11300 Levels. 

Once Nifty Future Closes below 11080 We may see sharp correction in the Index future, So As per the Technical Chart Structure Today low 11103 may act as make or break levels. Keep A close watch on the Index moves.

This Post is for Educational purpose, Kindly consult to your Financial adviser before taking any buy or sell decision.

GRASIM INDUSTRIES WEEKLY BREAKOUT

Grasim Industries on the weekly chart closed above Falling Channel Pattern resistance, Stock is likely to head towards higher levels in the next few trading sessions. One can initiate long position in Grasim with Stop loss of 650 on closing basis. We can Expect Targets of 850-900

This post is for educational purpose, consult to your financial adviser before taking any buy or sell decision.

Is Best Buying Levels to Invest in Indian Stock Markets are Around the Corners?

Is Best Buying Levels to Invest in Indian Stock Markets are Around the Corners?

Nifty Spot touched lows of 2252.75 in October 2008 Crash (U.S. Subprime Crises) And touched the highs of 12430.50 in Jan-2020 (Modi 2.0) - Seen rally of massive 10177.75 points

When we calculate 50% of this 10177.75 Points it come out to be 5088 Points And till today (24-March-2020) Nifty has corrected 4919.4 Points from highs of 12430.50 and Hits low of 7511.10. As per Fibonacci Series 61.8% Extreme Levels comes out to be 6140.65 (Click to read more about Fibonacci numbers : Fibonacci Retracement)

So, for investors its suggested to invest in Top 10 Nifty50 Blue-chip stocks as per the Nifty Spot Level. Invest in 3 Parts- First Part When Nifty Is near 7350- 7550 Levels (50% correction of 10177.75 Points). Second Part when we see further correction around 6150- 6350 Levels (61.8% correction of 10177.75 Points) and Third-Part Hold As cash in your portfolio as per the strategy for the risk management for the extreme levels when market enters depression.

As of now global markets are in fear and no one is suggesting buying so as per the rule of investing these are the best time for long term investments. It’s also said buy when everyone is bearish and Sell when everyone is bullish.

Invest in Top 10 Market Capitalization Companies of Indian Stock Markets:

Which is the best momentum indicator for stock market trading?

Which is the best momentum indicator for stock market trading?

Here I am Gonna Revile you superb strategy to Trade using momentum Indicators in Stocks. Read it carefully and paper trade using strategy before actual trades.

There are many momentum Indicators used in Technical Analysis and you can not pin point any one to be performing or under performing. Before Using any momentum indicator you need to have a Strategy to Scan the market i.e you need to filter market using some parameters like:

1. Open=High
2. Open=Low
3. Bullish Engulfing on Daily Chart.
4. Bearish Engulfing on Daily Chart.
5. News in Stocks.
6. Volume Shockers Stocks
7. Gap Up Or Gap Down Stocks.

Personally I look for Gap up and Gap Down in stocks due to news and then Place them in the trading terminal. Then comes the use of momentum indicators.

Once you find some breakout or breakdown on higher time frame (weekly and Daily charts) Due to the news then you try to trade those stocks using momentum indicators like: Awesome oscillator , RSI, MACD, ADX, Exponential Moving Averages Etc.

Today: ZEEL and HDFCBANK was in news How you can have traded both Stocks using momentum indicators Awesome Oscillator and RSI


Example 1: HDFCBANK



In the the above HDFCBANK 5 mins Chart (07-Oct-2019) you can See that Stock broke the Support levels- Marked with Red Horizontal Line with All Momentum Indicator supporting the Stock i.e. AO was Trading below Zero, RSI was Crossing 40 Levels. So you can confidently take a trade in the script.

Example 2: ZEEL



In the the Above ZEEL 5 mins Chart (07-Oct-2019) you can See that Stock broke the Resistance levels of Rising Wedge Pattern- Marked with Red Lines with All Momentum Indicator supporting the Stock i.e. AO was Trading below Zero, RSI was Crossing 40 Levels. So you can confidently take a trade in the script.

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At the current price levels, is INDUSINDBK a good buy for the long term? Why or why not?

At the current price levels, is INDUSINDBK a good buy for the long term? Why or why not?

Market Outlook:

Markets seems be over valued at this point of time, Upside in the market is very limited and from here we can see correction in overall market and Bank nifty. Nifty since it made low in 2008 without any major correction at made Highs around 12k mark. There are business and market cycles and hence I personally suggest you to sit on cash and start picking good Mid Cap stocks rather the investing in front line. Indian Banking System seems to be suffering huge from Defaults and NPA'S.

TECHNICAL OUTLOOK:

IndusindBank has seen huge rally since Year 2010, Stock has seen No Major correction till Date in the Last 9 years, As there is pressure on Indian Banking Index, So we can see Fresh short coming below 1150 Levels. In the Chart Attached below We have shown, Stock has broken 240 Weeks Trend line Support and Trading near to Support zone, If stock does not hold support levels of 1150- 1180 then we may see Stock crashing from here.

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How do I enhance the accuracy of RSI while trading intraday?

How do I enhance the accuracy of RSI while trading intraday?

No indicator can enhance your accuracy for Trade.

Default setting for RSI is 80–20 i.e. Above 80 RSI is said to be overbought & below 20 mark RSI is said to be oversold.

But when you apply RSI to Nifty or Stock Chart you may see that there are many occasion where you get trapped, when RSI is above 80 Nifty Gets more momentum and head towards higher levels.

So I suggest you to Use following Setup to enhance your accuracy in Intraday:

Step 1: Change to RSI default settings to 60–40 (Buy Above 60 Levels and Sell below 40 Levels)

Step 2: Place Parabolic Sar (PSAR) to Chart.

Step 3: Place MACD Histrogram

Step 4: Chance Intraday Time to 15 Min

For BUY SIGNAL: RSI Should should be crossing 60 above Levels and Parabolic Sar (PSAR) Should be Green or below Current Price and MACD Histogram Should be Above zero line. If 3 Condition Fulfills then Buy.

For SELL SIGNAL: RSI Should should be crossing Below 40 above Levels and Parabolic Sar (PSAR) Should be Red or Above Current Price and MACD Histogram Should be below zero line. If 3 Condition Fulfills then Sell.

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How Can I Master Trading in Stocks and Commodities?

How Can I Master Trading in Stocks and Commodities?

Mastering Technical Analysis is not too easy and not too tough. You need to Train your eyes and master any one patter you love to trade. There are many techniques and methods to trade but I would suggest you to trade manually not via algo. Learn the basis of Technical Analysis and then follow the steps mentioed below:

First Step: Stock Scannig
You need to have a scanner to scan the market i.e. which stocks you want to trade Top Gainer and looser, Volume shockers, Intraday Recovery Stocks, Open Interest Gainer Looser etc.

Second Step: Time Frame and Charting Tool
You need to choose time frame on which you what to trade i.e. Hourly Chart, 15 Min Chart, 5 min Chart or 1 min Chart. This depends on your trading style. I personally Trade on multiple time frame i.e. looking at multiple time frame in one go or one screen. For this you need best charting tools and I would suggest you to use Sharekhan's Trade Tiger or Fyers securities i-dart both are desktop application with many in built scanner which are very helpful for beginners.

Third Step: Money Management, Position Sizing, Trade Management and Accuracy:
You need to master money management i.e. always have a stop-loss while trading and need to have a good risk to reward ratio. Then comes position Sizing where you need to decide how much quantity or lots to trade depending on your PROFIT AND LOSS or you risk capacity. Then comes Trade Management where you can have fixed targets or you may have Trailing stop-loss technique. Always start with half quantity and add quantity when you are winning the trade and keep trailing the Stop loss till your desired profit is reached. Then comes accuracy, be accurate in picking the right stock and right moves this will increase you chance to gaining and earning from Trading.