Bearish sign: 1. At the strong resistance level of 680 (which incidentally has 7.2 lakhs Calls written), a copy book Evening Star bearish pattern appears. 2. The COI (cumulative open interest) is reducing. 3. In OI chart, lots of PUTs are unwounded in the immediate support level of 650 (1.2 lakhs PUT unwounded). Only concern is: Volume does not pick up. RR: 1:1
LIC HOUSING FINANCE as per daily chart analysis below 362 level for a target 352 level. Stock has a good support at 351 level.Do note nifty50 tomorrow will fall initial hours and it should take support either at 16891 or 16791 for it bounce back.
TATA MOTORS as per daily chart analysis below 463 level for a target 456 level and 445 level. Stock has a support at 456 level and 443 level.Do note nifty50 tomorrow will fall initial hours and it should take support either at 16891 or 16791 for it bounce back.
RELIANCE INDUSTRIES as per daily chart analysis below 2333 for a target 2313 and the stock has a good support at 2302 level.
This Analysis Is Done Only For Educational & Intelligence Purpose, Invest Or Trade At your Own Risk & Will.
NSE:ESCORTS As We can see Escorts had a Top around 750-770 levels where it formed a Bearish Engulfing Pattern(Marked Area). Now at the same Area It made a Reversal Candlestick Pattern called Shooting Star(Marked Area) with Volumes above Average. That Pattern is also called "Falling of the Roof(Steve Nison)" which touches targets in fast momentum. Risk:Reward...