Manappuram formed a dark cloud over few days back and then tried crossing the level but couldnt. and today forms more or less a bearish engulfing candle. buy above 180 for 185 188 190 or short below todays low.. for 172 170
Nifty is at the PRZ of a Bullish AB=CD. Expecting a bounce back 12100. View would be negated below 11940
Plan A: If it will sustain below 12000-11980 I will short Fut for the Target of 11920. Plan B: If it will sustain above 12000 then I will short 11950 or 12000 Put. Plan C: Any bounce to 12050-70 or 12100, I will take short position. It's depends on the market momentum that I will take position in Future or Option Selling. I will update in my channel.
Please find Support and Demand Zones in the chart. Plan A: If it will hold it's demand zone: 31000 then I will short 31000 Put and if it will not able to sustain above 31500 then I will short 31500 call. Plan B: If it will sustain below 31000 then I will short Fut for the target of 30800-30700.
ITC is trading in the strong support zone. Can it bounce from here or will it break the support zone?
Waiting for nifty to trade in the range 11960-11980, and then bounce back to 12008, which is 0.618% retracement level of recent swing. That's where I'm going long, keeping stop-loss as the low it makes. But, if nifty slides like a falling knife, then I'm not catching it. Whenever the market falls because of geopolitical tensions, the fall often doesn't last...
after a good move DLF has been inching up with some negative divergence and has closed at the top of the channel with a spinning top. long above todays high, short below todays low
BANK Nifty nearing the 1.618 extension of the pop from the corporate tax cut date also it is reaching 2.618 extension of the corrective move from jan 2015 to feb 2016
BERGER PAINTS has hit long term fibo resistance.. time for serious correction..
In daily time frame its now breaching through a daily support and entering into the KUMO zone. In hourly it has given a breakdown at 208 Sustaining below 200 on closing basis could take it to 180. Any pullback till 208 could witness selling pressure.
Appears to be ending its hourly triangle. It could rally till 12475 provided it does not break 12150.