#037 | Swing Trades for the Week

What is Up?


The complete idea behind this newsletter is not to make you think of it as a ‘get rich quick scheme’. If you’re reading this, you have already gone through the description and the disclaimer in detail.

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Let’s dive in.

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Do Note

Important - Typically, a buy trigger is initiated when the hourly candle closes above Friday’s closing price.

Marked level in Red is Stop Loss, marked level in green is - potential target.

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Nifty

We don't like Nifty's price structure over here.

We can see that it made an " indecision " candle on Thursday and on Friday, we almost engulfed the body of that candle with a bearish candle.

Any bullishness only above 16350, and if we fail to take out this high, we can fall back to 16150-16000 levels.

BankNifty

Banknifty is again facing problem to cross above this resistance. Like we can see in the chart that earlier also it tried to breakout above it but couldn't succeed. This time also we closed above it but could not take out the high of the candle ( 36220 )

This same level of 36220 is really important now, any bullish move can come only if we cross it.

Till then we can fall back to 35200 -34650 levels.

Happiest Minds

We can see a textbook pattern here the way it is bouncing off the 20 Exponential Moving Average (EMA).

It has been respecting it's 20 EMA since a long time and recently also it has bounced off it.

Now till we are above it, we can move towards 1550 levels and beyond. Once we are in profit, we can basically trail our profit with 20 EMA itself.

Tata Investment

In Tata invest, we can see it breaking out from this ascending range. We will now study the daily chart for further clarifications.

In daily chart we can see that it is breaking out of this range and the volume is also supporting it nicely.

Now till we are above 1180, we can go towards 1375-1480-1550.

Narayana Hrudalaya

Narayana Hrudayalaya has given a clear breakout over here and if we observe the volume action, we can see that earlier it had given a sharp move and volume had also supported, then the volume dried up for some days and now we can again see the volume being picked up.

Now till the time we are above 500, we can go towards 565 and 640 levels.

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Disclaimer

The data/information available on this newsletter is for the purpose of information only and one needs to rely on their own judgment while making any decisions including investment decisions.

Any investments discussed or recommended are not intended to offer or solicit an offer to buy and/or sell any securities mentioned on this newsletter and/or is not an official confirmation of any transaction.

No content on this newsletter should be construed to be investment advice. You should consult a qualified financial advisor prior to making any actual investment or trading decisions. All information is a point of view, and is for educational and informational use only. The author / contributor accepts no liability for any interpretation of articles or comments on this blog being used for actual investments.

Alpha Swing does not provide SEBI registered investment advice.