HDFC Life Insurance after breaking out 646 it’s pre Covid-19 High has sustained very nicely above the breakout level and we can see a nice narrow range price squeeze on the technical chart with follow up attempting a minor breakout soon. #Bullish
HDFC LIFE INSURANCE MONHTLY LOG SCALE
On the Weekly timeframe we can see an Inverse Head and Shoulder Pattern Breakout and the price has sustained above the breakout level very nicely if we try to estimate the technical target for this script so it is 950+
Weekly chartSource- STATISTA
For queries related to this post or technical analysis you can mail us here at- Info@tradetales.in
Disclaimer- This post is shared for educational purposes only kindly consult your financial advisor before taking any decisions we’re not liable for anyone’s profit and loss. PEACE.
After facing some heat from the larger Timeframe Trendline resistance Banknifty consolidated for almost 5-6 months if we look at a larger timeframe but in AUGUST it has closed nicely above 35600 which was acting as a resistance.
BANKNIFTY MONTHLY LOG SCALE
As of now chart of Banknifty indicates good accumulation just below the trendline resistance and if it takes out this resistance we can expect Banknifty to reach our previous target which is 42000. Link- https://www.tradetales.in/banknifty-42000/
BANKNIFTY DAILY
A daily close above 36870 and we are heading towards 42222. #HarmonicBat
For queries you can mail us here at- Info@tradetales.in
Disclaimer- This post is for educational purposes only kindly consult your financial advisor before taking any decisions we’re not liable for anyone’s profit and loss. PEACE.
After 4th of June, the trend for Banknifty is not quite clear whether to Buy the Dip or Sell on rise as one day it moves smoothly and the very next day it gets volatile, Kind of non directional within a range considering the previous month’s data.
BANKNIFTY DAILY
This is the daily chart of Banknifty where the 1st Bullish Bat pattern played very nicely on both long as well as short side. Now we’ve another valid Bearish Bat pattern which will stay valid above point B which is [34287] and target for this pattern is the red PRZ zone. [Potential reversal zone].
BANKNIFTY WEEKLY
Banknifty has not only managed to close above B point but also 0.618 retracement [Swing High to Swing Low] which opens the gates for our Target- 36800.
Banknifty OI data shows that there is not much difference between CE and PE writers at 35000 strike at the moment but we’ve 4 trading sessions left and this data keeps on changing.
Open interest
Bearish view-
In a larger timeframe it is just consolidating near a very strong resistance of more than 10 years and we’ve observed that whenever the consolidation happens near ATH the next breakout or breakdown move is quite trendy.
After 4th of June the Trend for Banknifty is not quite clear whether to Buy the Dip or Sell on rise as one day it moves smoothly and the very next day it gets volatile kind of non directional within a range if we look at the previous month data.
BANKNIFTY DAILY
This is the daily chart of Banknifty where the 1st Bullish Bat pattern played very nicely on both long as well as short side now we’ve another valid Bearish Bat pattern which will stay valid above point B which is [34287] and target for this pattern is the red PRZ zone. [Potential reversal zone].
BANKNIFTY WEEKLY
Banknifty not only has managed to close above B point but also 0.618 retracement [Swing High to Swing Low] which opens the gate for our Target- 36800.
Banknifty OI data shows that there is not much difference between CE and PE writers at 35000 strike at the moment but we’ve 4 trading sessions left and this data keeps on changing.
Open interest
Bearish view-
In a larger timeframe it is just consolidating near a very strong resistance of more than 10 years and we’ve observed that whenever the consolidation happens near ATH the next breakout or breakdown move is quite trendy.
BANKNIFTY MONTHLY
Our Target for Banknifty remains the same 42222- https://www.tradetales.in/banknifty-42000/
Disclaimer- This post is written only for educational purposes kindly consult your financial advisor before making any decisions. PEACE.
The NIFTY Smallcap 100 Index is designed to reflect the behavior and performance of the small capitalized segment of the financial market. The NIFTY Smallcap 100 Index comprises of 100 tradable, exchange listed companies.
View- Bullish Let’s look at the thorough technical analysis of Nifty SMLCAP 100 grab your cup of coffee.
CNXSMALLCAP100 Weekly time frame indicates that a golden crossover was panned out in the month of January later this year. As you can see when that happened earlier on 24th march 2014 it topped out in 2018 and we witnessed a sharp bull phase upside for 4 years (Round figure). Well, looking at the current scenario this crossover panned out in January and we are now expecting at least 2 to 3 years of bull phase in small cap space.
Also it is very near to it’s top once that happens bulls will have an open arena to crush the bears.
Monthly chart shows that after 1st April,2020 prices did not close below the previous month for even once which shows a very strong trend.
Taking two swings from 2008 top and 2009 bottom previous bull phase ended by completing it’s 1.618 retracement and we saw a long term top.
Now here if we manage to cross the Top Target is going to be 1.618 retracement which is 13644 just like before taking the two swings of 2018 high and 2020 bottom this target is estimated. If this setup plays out well position yourself accordingly and enjoy the next Bull phase which might last several Years.
Disclaimer- The analysis are only for educational purposes. Trade tales is not liable for your Profit or loss. Kindly refer to your financial advisor before taking any decisions. PEACE
