Trade Setup – BANCOINDIA, BHARTIARTL, CIGNITITEC & More

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Timeframe: Daily

After reaching a low of 777.7, the price began to form an impulse structure. It is currently trading above its 35, 50, 100, and 200-day moving averages. The average true range (ATR) of the price increased to 42, although the average directional index (ADX) is not showing a consistent upward trend.

As per the Elliott wave analysis, the price has accomplished complex correction of wave (4) with 61.8% retracement of wave (3) at 942. The security formed sub-wave one at 1040, followed by sub-wave two at 980.

NSE BANCOINDIA: Breakdown Potential Analysis

NSE BANCOINDIA looks weak on the daily timeframe. Price recently broke down a crucial support level of 675 and started falling. ATR of the price reached 31.19.

Security has broken down the 10/50 moving average that signals bears are taking control over the bulls. If the price sustains below 675, traders can short for the following targets: 665 – 652 – 636+. Free subscribers can take the previous day’s low as an invalidation level.

Is the Grip of Bears Loosening on NSE BHARTIARTL?

NSE BHARTIARTL has given a strong move in the previous trading session. The ATR of the price reaches 25, and ADX shows strength by being above 30. The price is above 10/35/50 Moving average

It Looks like the price has broken our flat corrective structure on the daily timeframe chart. If the price sustains above 1130, traders can trade for the following targets: 1143 – 1158 – 1176+. The target can be extended following an aggressive breakout of 1144.

Free subscribers can take the previous day’s low as an invalidation level.

NSE FIEMIND – Correction Breakout

NSE FIEMIND broke out of wave B of the correction at 2434. The price is currently trading above the 35, 50, 100, and 200-day moving averages. Following the breakout, the average true range (ATR) has begun to trend upward.

The slope of the move appears impulsive, and the breakout from the flat pattern occurred with a large candle. If the price manages to sustain above 2435, traders may consider trading for the following targets: 2494 – 2556 – 2636+. Free subscribers can take previous day’s high as invalidation level.

Premium subscribers will have excess to further information.

NSE GOODLUCK – Trade Setup

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NSE TECHM – Trading Insights & Updates

Did you trade the NSE TECHM Bearish setup?
Visit here: Trade Setup – NSE ULTRACEMCO, ASIANPAINTS & More

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I had written clearly,”If the price manages to sustain below 1300, traders may consider selling for the following targets: 1287 – 1270 – 1258+”.

Timeline:

[19 February 2024]

  • 09:45 AM – NSE TECHM touched the first target of 1287.

If you have this setup, you could have made more than 14 point in just a first target.

We will update further information soon.

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NSE WIPRO – Bull Victory

Did you trade the NSE PNB Bearish setup?
Visit here: TRADE SETUP – NSE HAL, WIPRO, PNB & More

We had written in clear words, “Should the price successfully breach and maintain levels above 501, traders may consider initiating positions with target prices set at 510 – 527 – 538+..

Timeline:

[13 February 2024]

  • 02:45 PM – NSE WIPRO hit the first target of 510, and made a high of 513.

[16 February 2024]

  • 10:45 AM – Price hit the second target of 527.
  • 02:00 PM – Price achieved the final target of 538.

If you have traded this setup, you could have made more than 43 points or 8.75% ROI in just three trading session.Continue reading

NSE PNB & AARTIDRUGS – Trading Insights & Updates

Did you trade the NSE PNB Bearish setup?
Visit here: TRADE SETUP – NSE HAL, WIPRO, PNB & More

If the price continues to sustain below 121.25, it presents an opportunity for traders to initiate short positions with the following downside targets: 118.35 – 115.15 – 112.20+.

Timeline:

[13 February 2024]

  • 09:20 AM – Price touched the first target of 118.35.
  • 09:35 AM – NSE PNB made a new low of 115.70, which is close to our second target of 115.15.

If you have traded this setup, you could have made more than 4 points or 3.7% return in just a single trading session. Continue reading

NSE WIPRO – Tips & Updates

Did you trade the NSE WIPRO Breakout setup?
Visit here: TRADE SETUP – NSE HAL, WIPRO, PNB & More

We had written in clear words, “Should the price successfully breach and maintain levels above 501, traders may consider initiating positions with target prices set at 510 – 527 – 538+.”

Timeline:

[13 February 2024]

  • 02:45 PM – NSE WIPRO hit the first target of 510, and made a high of 513.

If you have traded this setup, you could have made more than 2.47% or 12 points in just single trading session.Continue reading