Reposting the weekly chart. Price has closed at 200 Weekly EMA. Here-from price may give strong upside, as it did many times earlier. SL is 478 on closing basis.
Reposting this weekly chart since price has reached 200W EMA; a very significant level for resumption of uptrend. Our SL remains small for a long trade.
A recovery of 160 points. After 16.9.18 today is the first day when Nifty closed above 5 DMA. Is it a sign and/or confirmation of reversal from the bear grip? What propelled this smart gain? It can be attributed to SBI's steps to boost liquidity of the NBFCs. Nifty must close above 9 DMA and 15 DMA and then 200 DMA to make sure that market is back to uptrend. It...
Second day of consolidation cum pause, range bound move with a bearish undertone after a massive fall. Target marked is to come by. There is no sign of reversal.
OI Table: Nothing has changed on OI front. 11000 Call has the highest OI implying steep resistance for the current series. 10000 Put is the second highest Put OI. This is immediate support. Bulls will...
In all the instances presented here on the chart price turned up from 200 WMA. GodrejInd is again at 200 WMA. 200 WMA is 483. LTP 472. One may go long if price closes the day at or above 483.
Confirmation of downtrend comes from Breakdown of the channel support, breaching of 200 DMA and 50 WMA. Option Pain chart has bearish. Target of Descending Triangle on daily chart is more than achieved. Now Nifty may go down towards the previous low for support which is around 9960 which is also 100 WMA.
OI Table: On Friday bulls were unable to save 10500. So now...
Weekly charts are convincing. Nifty has broken down of the support line. Target of Descending Triangle (on daily chart) is coming. So it downside is not correction. Trend has changed. Nifty is in bear grip remaining below 200 Daily Moving Average and also below the support line on weekly chart. Below 10430, Nifty has potentiality to go down to 10000, previous low....
I see some sort of correction in it sector to balance the one way rally ... but the correction will again get over soon looking at the earning season into picture as well as the usd inr depriciation will generate better revenue story for these stocks like tcs infy etc
