NIFTY MIDCAP idex is at important support zones in its life long chart.
trendline supports in red and support zones in blue are marked...
be cautious..
It is in the PRZ of a Bullish Harmonic ALT SHARK in Weekly time frame. A daily close above 1650 would add conviction for a probable move for next resistance at 1850-2000. Small time frame resistance at 1590-1625. For now the pattern would get negated below 1450
BANK NIFTY RSI has taken support on the trendline the last 2 times
showing positive divergence.
if the divergence holds for the 3rd higher high of RSI, a possible rebound can happen
In daily time frame ITC has made a Bearish Island Reversal. Even though the impact of this set up usually works after an uptrend, we cannot ignore the repercussion in the current scenario. Until it does not negate the bearish pattern AT 165 upside looks difficult. Above that a short term move till 200 where it has a massive monthly and weekly resistance. Downside...
AXISBANK is at strong monthly supports in long term charts.
todays low is key for this month close or weekly close.
Daily charts show extreme oversold conditions
AXIS short term chart is right now at short term resitance. but RSI movingup and volumes hav picked up
considering the positive setup today, any break above the immediate trendline resistance can give 5 to 6% upmove.. or even more..
