Clear Piercing Candlestick which shows possible reverse
NIIT TECH trading in a range from past 6-7 days.....A close above or below the range needs to be looked into. RANGE 1131 -1061
Examples of Doji, Gravestone Doji, DragonFly Doji Examples of Green Marubozu and Red Marubozu
Positive Points: ============== - Stock is trading near its lifetime low. - Also, RSI positive divergence can be seen on the weekly chart. - A bulk deal done by FPI(erstwhile FII) for 256.48 rs. Negative Points: ============= - India is struggling with TRUST factor with some banks like PMC, YesBank etc. Keeping in mind, banks like RBL Bank, may be affected badly.
Nifty Analysis - Details are described on monthly chart
We can clearly see the price struggling to breakout of the Weekly Levels. In the Daily, we can see a Negative Divergence with RSI (orange line) followed by Double Red Inside Bar. If today, the price breaks below the yesterday's range, we can expect quick down move.
NSE:RELIANCE Long term trend line (without log. It looks like one top has been formed on chart after the formation of duo bearish candles. Good correction expected.
Escorts-Buy Current market price: Rs . 653.45 Stop loss : Rs . 634.90 Target : Rs . 748.80 Risk Reward: 1:5.14 On daily chart there is strong support, buying momentum increases and pullback is weak. Above mention idea is educational purposes only.
Infosys after that dramatic fall is still reeling under pressure. On hourly time frame it has formed triangle which depicts uncertainty. Body of candles formed is very small which indicates no buying interest. Need to wait till the trade comes to us. For this expiry 650 would be the key resistance to watch out for. Om the put side highest OI is at 600 Om the...