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Nifty is showing an obvious LH formation from the top level which suggests some profit booking is in order. I have hence initiated a Mean reversion trade on the short side for target till 24,260 level. I'm not doing the same on BN yet.

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I have taken an Intraday Long on Nifty. The bullish momentum should sustain and help Nifty reach the 24,600 level. My trading strategy is level to level. I've taken a slightly OTM Buy for the 24,550 strike which I believe should become ITM by close of the day or tomorrow max. SL will be if Yesterday's High is Broken.

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HINDUNILVR has been forming a good base near the Monthly Pivot. Bulls took the price up on 22nd Nov and formed a peak. Now that level seems to be holding. On an intraday basis, there is a strong bullish momentum being displayed. Hence, I have taken a Long position for a Target till Previous Week High level ~ 2538. I'm anticipating that this level will be...

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Britannia is showing Bullish momentum which is visible from the Bullish Pin Bar formation on the Hourly chart. Price has bounced from Weekly Support and holding above Daily Pivot. This is a sign of strength. First target - 5022

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Nifty is showing some Bullish momentum thanks to FMCG scripts. I'm not expecting much momentum on the Long side. For now I have taken a long view for Target till 24,300 level only. Notice how the price has formed a Bullish pin bar on the hourly charts and started to trade above the Daily Pivots. This is a sign of Bullishness. Resistance would be the Hourly 200 period MA.

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Bank Nifty closed the previous week with some Bullishness breaking out from the trend line resistance forming since 27 Sep 2024. Last weeks candle was an indecision candle. It's quite likely that BN fills the gap created by last weeks gap up opening. Bank Nifty should turn Bullish only once it starts trading above the 50% zone of the previous fall which is...

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Nifty closed the previous week with some Bullishness breaking out from the trend line resistance forming since 27 Sep 2024. Last weeks candle was a Pin bar with some Selling pressure from the top. This is not a purely Bullish sentiment indication. Nifty should turn Bullish only once it starts trading above the 50% zone of the previous fall which is above 24,800...

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Reliance has slammed into resistance and is looking due for a reversal. The weekly Pivot has not been tested and hence, there is all likelihood that it should fall and take Nifty down with it too. (Refer to my post on Nifty short dated 25 Nov.) I have taken a short position on Reliance. Let's see..

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BN as anticipated has gapped up straight into resistance zone and is struggling to find momentum. I'm anticipating a failure from the highs through a price action and price to re-test the trend line drawn. I have taken positions for December month expiry. 51600 PE bought. I have hedged it with a far OTM PE Sell since I believe in trading only spreads unless it's...

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Nifty as anticipated has gapped up straight into resistance zone and is struggling to find momentum. I'm anticipating a failure from the highs through a price action and price to re-test the trend line drawn. I have taken positions for December first week expiry though. 23900 PE bought for 05th Dec expiry.

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Nifty closed the previous week rather Bullishly forming a Bullish Hammer Weekly Candle. This is a strong sign of reversal to the upside. The Daily candle closed strong enough to take out all the Bears from the previous 5 days. This should give you the sign of strength for Nifty which has taken support from the 200 DEMA. The intermediate trend seems to have...

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BN ended the previous week on a positive note taking a much needed and anticipated support from the 200 DEMA. For now, even though the intermediate trend has changed to Bullish, in my view the master trend still continues to be on the Bearish side. So, when will that turn Bullish? When 52,400 is breached strongly on the upside. Technically, once price...

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BN is showing signs for a sharp long reversal. I have taken an OTM call buy 50,800. Target is 50,935

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Notice how in the first half an hour of todays trading session itself, BN has taken out all the weak buying liquidity from the last three days. If BN ends up with a totally Bearish Daily candle by the end of the day (O=H) candle, a short swing position can be initiated for Target till 48,606.

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Axis Bank has witnessed a clear rejection from the Daily Pivot. It's already trading below the Monthly Pivot and Weekly Pivot. A short intraday trade has been initiated for Target till Daily S2 support zone at 1,114.8 If Axis Bank ends up forming an O=H candle by close of trading day today, then a swing short position can be initiated for this month's...

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HeroMoto is showing Bullishness from the Lows and is clearly reversing. This is a short term bullish reversal. Notice how on the Hourly basis, the price is clearing breaching the resistance. A Long Swing type trade can be taken for a target till 4953. However, ensure to enter only once the hourly candle closes positively without any wick.

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Bajaj Finance is showing good amount of weakness. The Monthly Pivot was rejected on 7th November 2024. After this there was a straight fall to test Previous month Low ~ 6601 Now, the price is failing to sustain that level and showing a clear weakness of the hourly chart. I have taken a short position with Target - 6415 which is a Weekly support...

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Reliance is clearly Weak and is the main contributor for Nifty crash along with TCS. Reliance has rejected the Weekly Pivot which is a clear sign of weakness. I have taken a STBT type short on Reliance with a target to 1228.