Reliance has been trending after the trendline breakout and now the price is taking support at previous high and 20 period EMA. Which is supported by a bullish engulfing candle. If the current candle closes above 2606 which is the high of previous candle, Entry can be done here and if it doesn't then wait for the closing above current day high. Stop loss should be...
As we can see in the above chart, CIPLA is rising for the past few weeks, and it might be up to the Daily Supply Zone. It will come down, and even though the Demand Zone is of 75 Minutes, it has the support of the 20 EMA also, which makes sure that the price might take support there. Also, the 8 EMA is above the 20 EMA, showing the chances of the price to retreat...
After the breakout from a resistance of 170 zone, M&M FIn has entered to a new bullish territory, and is testing its previous resistance. Good signs are that a bullish engulfing candle has formed taking support of 20 EMA and RSI is also in bullish zone. Entry can be done from current levels till 173 with a SL of low of the breakout candle i.e. 171, hoping for an...
SBIN took support at 20 EMA…
Reasons/Traits :
• Took support at 0.382 fib retracement level
• Above 20 EMA
• Strong up move, force index 3 is less than 0 and force index 13 is greater than 0
• ADX 20 is greater than ADX 30 as well ADX DI + > ADX DI -
• Force index 3 is greater than 0 and Force index 13 is less than 0
• VWMA is greater than 100
What can happen...
Kotak Bank has given a breakout after a consolidation of more than 100 days, price has also taken support from 20EMA forming a BUllish Engulfing candlestick pattern. According to fibonacci retracement, price was trying to break the 50% resistance line and today it has successfully closed above it. Price can move further if it sustains itself above 1830 level,...
Nifty bank looked weaker in today session it closed between 20 EMA ( Lower Side) and 200 DMA ( Upper Side)
Stocks like SBIN (Bearish) , YES Bank ( Mildly Bearish) would continue to show some weakness.
Indus Ind bank ( At support ) , Axis Bank ( At Support ) , ICICI Bank ( Bounced from 100 DMA),
HDFC Bank ( Trading in a Range) should keep the bank nifty...
