Target 1 and 2 done☘

Note to self: Not to listen Pink Floyd even when the markets are slow!

comcentrate on yellow line if BN makes head and shoulder then target red line

Update

Pura din gaya and now banngg

T1 & T2 done☘

https://www.tradingview.com/x/XHk4CyuI/

Making vcp

Nettlinx

Expiry to nahi pata but jo pattern abhi bana hai BN mai upar side ka target 52865, neeche ka 52265

https://www.tradingview.com/x/x8qRnofr/


#Nifty Still Little movee Left if it wants to Tap that Channel pattern

#Nifty dz is away
And There's also 1 min Gap at 23598

#Banknifty Dz is away and
There is 1 min Gap at 52145

Olectra Greentech


Breakout achee se hua toh may see Good Move !
Till ATH sz

1 min #Banknifty

#Nifty 1 min

Best way to understand the support/resistance offered by Singles such as below. The bounce—as we saw yesterday from 52010—is sharp and so can the fall.
Hence need to be careful, till either direction is clear.

Check future low 52255..

Kal expiry level 3 they so was not sure ,kal ka ek.level tha 52400..

Aaj ka aa raha 52500.. but yeh sirf 11 bake tak valid hain..

Upar ka aa raha 52700..

But but but..

52458 k upar head and shoulder bana hai , if that works out .. 52175 is Target..

Yeh aaj hi karega ki nahi pata nahi..

Agar aaj karega to kab karega.. poora din pada iske paas..

So done for the day..

Why Is the Support Offered by Singles Tricky?

1. Emotional Buying and Trapped Shorts:

Singles, or minor support/resistance levels, often represent emotional buying areas. Initially, when shorts find themselves trapped, they may be forced to cover their positions, leading to a breakout. As the price rises, wholesalers, who have been in the market longer, join in, followed by retail investors. The situation escalates when trapped shorts realise they are screwed, prompting them to buy back. This activity can cause a sharp but temporary surge in prices, but as wholesales cash out, the price may stall, leaving retail investors trapped on the long side. When prices rise slightly, these trapped longs quickly square off their positions, preventing further upward movement. Conversely, as the price drops, shorts cover their positions, providing support to the market.

2. Sideways Movement and Wholesaler Strategy:

The sideways movement in the market often reflects the negotiation between trapped longs and shorts. Wholesalers, who have been long since a lower price point (e.g., 49500), watch the market closely. They can sell gradually without significantly dropping the price, creating a situation where, if buyers do not appear, nervous longs might sell off, triggering a flash sale. This was evident when yesterday price fell from 52200 to 52000, enticing new buyers and shorts to enter the market. And, then supply is cut off, leading to a sharp rally, as seen from 52010 to 52700.

3. The Impact of Short Covering on Market Strength:

Short covering, where shorts buy back shares to close their positions, can temporarily boost prices. However, this buying pressure often doesn’t sustain a rally because it removes potential buyers from the market. Thus, rallies driven by short covering tend to weaken over time, leading to a gradual drift lower. Trapped shorts, sensing the opportunity to cover at lower prices, may pull their bids, causing the price to fall further—a phenomenon known as long liquidation. This support is what Dalton referred to as the 'balloon support'

Equitas 4.92%
WockPharma 9.71%
Wipro 2.57% up target is 536
Tatachem 2.5% up and now around cost , will hold till 1400ish level
Manappuram 6.2%