Applied Fibonacci levels to July lows and August highs. Stocks seems to have corrected 50% of its rally and taking support at 289 290 levels which is 0.5 Fibonacci level. It also seems to be following a falling trendline. SBI can be a sell below 288 with a stoploss of 293. Target is 280.
Major Bullish Breakout Expected in PNB Multiple confirmations high probability trade.
Hi Guys SBIN creat STP keep watch and get good profit... Disclaimer: The information contained in this presentation is solely for educational purposes. Does do not constitute investment advice. I may or I may not take the trade. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable...
Shooting star, Exhaustion gap in ICICI BANK. NSE:ICICIBANK has formed a shooting star, and is exhibiting a exhaustion gap at the top of an uptrend. It is also exhibiting RSI divergence. ***Volumes are not that convincing. RBI announcements on December 5th
NSE:KTKBANK has taken support of 20 DEMA + rising trend line + 172 level which has acted as strong support and resistance in recent past. Stock has been very bullish. Now it is forming the bullish marubuzo candle. It may be worthwhile to enter now with stop of 173 and first target of 180. If 180 is crossed then ride the trend.
- A beautiful text-book 'Cup & Handle' pattern on daily chart - Stock trading within a regulation upward sloping trend channel - Daily momentum oscillator readings have slowly turned up in bullish territory - Volumes pattern shows gradual accumulation - Accumulate in range of 275-280 - Maintain SL of 263 (closing basis) - Targets 330 - 340
another day or two of losses and the daily RSI would dip below 70.00 thus confirming a bearish price-RSI divergence. Only a daily close above 21,042 could signal continuation of the rally
Comparing the near term charts over the past 3 years we can see that both Nifty and Bank Nifty have a habit of making new highs / life time highs just when the American Markets have seen new ATH's and are starting to taper off. With the Dow and S&P having a had a phenomenal run over the past few days whilst our indexes have experienced what we can best call...
IDFC BANK this is new bank but i hope that it will will defiantly cross 100rs. level but right now a strong pattern is form cup and handle in both weekly and daily chart and fibo retarcement is also showing some up move. So i feel immediate target will be 65 second target will be 71 and final target from my side will be 83
Bearish divergence + MACD Crossover Weak volume in trend. potential shorting candidate
BankNifty is in Euphoria Mode, i have been bearish on banknifty since 19200 but it has rallied almost 5% since then, i still think it is Working on Greater Fool Theory, Fundamentals are still bad and it is giving some signals for weakness in technicals also, it is making Harmonic Three Drive Pattern with rising wedge, any bad news will trigger a big selloff, same...
WatchOut for ICICI Bank Potential Breakdown of a long term channel, as it has failed to move up to test upper line for the third time, A break below can take it all the way down towards 200. Axis banks results were also not very supportive. Shorts Can be taken with an SL above recent highs and for the Targets of 225, 205
BankNifty is Looking to move towards 16500 now, there are three reasons mainly.... 1- Banknifty is trying to Form a Channel. 2- It is trying to move in a (W) Formation Contantly with 1.41 extensions as targets. 3- It is trying to Fill every gap one by one (show with numbers on the chart) Short Positions can be taken for the targets of 17000, 16500 with an SL...
Important Feature- Use Alarm icon in authors updates of current issue so that you don't miss the important action in the coming days In the previous update- Likely I was looking for a fall from 1430's to 980-1010 zone- Excited, as I got some chunk of the move, which comes once in the blue moon shown as oval shape. The sharp fall happened between 11th to 15th...
This is delayed post, went to place few orders, Sorry Guys ! Could have abandoned this post but as it got insync with My prev.post of BankNifty, I wanted to share that all methods work well in markets if used properly. In last BankNifty post 10days before we have seen elliott waves and wave 5 pointing upwards. I initiated long from that time with stops below...
As per the price action saw on Monday, the gap down suggested a bulk selling and it shall continue the same for tomorrow until it reaches to previous support level where we could see some buying back that shall move the prices up to fill the previous gap and clear out demand and supply discrepancy. Target:19400 Stoploss: 20300