A double top pattern is one of most simple and reliable pattern in technical analysis. There is a high probability that a trader will predict correct move most of the time. This pattern is very easy to recognize and taking positions is quite simple. You can apply this to any time frame chart may it be weekly, daily or any intraday time frame chart. Have a look at the below image. How to trade ... [Continue Reading]
Technical Analysis: Ascending triangle pattern formed in Idea Cellular
Idea cellular is one of our technical analysis pick today, we see a ascending triangle pattern on weekly chart. If I tell you this pattern is a bi-directional pattern so breakout in such patterns can happen in either side. So we are not certain about the trade that a trader must be taking. In such situations we should keep patience and wait for the breakout first, but as markets are extremely ... [Continue Reading]
Nifty future closes below the rising trendline, Trading Idea
Yesterday due to global selling, our markets was on the way of selling as well. We Have seen Nifty future for the first time on daily chart has broken below the trend line which has been acting as support from the month of June. So I am expecting some selling in the markets, as being a technical reason. Even Indian rupee has depreciated against USD and reached 54 mark again. Situation after flop ... [Continue Reading]
Nifty options trading idea for next week, Buy more call options
Nifty future continued its uptrend even after the financial budget was announced on 1 February 2023, traders will be looking for buying opportunities on nifty future or nifty call options in large quantities. Another trading option can be to write a nifty put option and then keep holding it till the F&O expiry. For next week medium risk trade can be to short nifty put option or buy nifty ... [Continue Reading]
