HBI is in a Long Lasting downtrendchannel. A nice bearish engulfing built up near the upper Bound of the channel in the Weekly timeframe that maybe Signals the end of the upside leg. Take a shortposition the next week.
After a sustained uptrend BataIndia looks weak at top. Stock after touching 1163.65 (which is 100% Fibonacci extension from the SPL of 1075) looking set to reverse its trend. Its giving divergence as per stochastic and all set to test 1138/1126/1114/1097 levels on near to medium term. Today also stock tested 1138.7 which is its 38.2% Fibonacci retracement. Its...
Wipro has failed yet again around 335 levels forming Double top in the week of 17 September 2018 and 17 December 2018 .
I can also see a large Bearish Engulfing candle for this week.
Looks like the stock is headed back to 305 levels.
Good opportunity to short with stop loss around 335.
Disclaimer: Views expressed here are my own, and should not be interpreted...
Infosys NSE:INFY has been in a downtrend since October making lower swing highs.
I can see that it again got rejected at the trendline resistance and formed a Bearish Engulfing candle.
Shorted here with stop loss a few points above the trendline resistance for a first target of 625.
A deeper correction can take it to 610.
Disclaimer: Views expressed here are...
As on 18/09/18, Bank Nifty is in downtrend as per candlestick pattern and also moving averages. Crucial Resistance level is 26644.36 and crucial support is 26363.54. If it breaks 26390 then sell bank nifty for target 26302/26131/26041 with stoploss 26500. Also, Bank Nifty is forming bearish engulfing in monthly time frame.
BEARISH ENGULFING IN BANKNIFTY
SHORT TRADE IN BANKNIFTY
BUY PUT OPTIONS OR SHORT THE FUTURES
LEVELS GIVEN AS PER CASH MARKET RATES
PLEASE ADJUST ACCORDINGLY IN FUTURES
After a rise from the lows of 277 till 306, looks like Hindustan ZincNSE:HINDZINC has completed the countertrend move and is on its way down again.
With Metal Index looking weak, I can see that the stock price got rejected after retracing 50% of the previous downmove, forming a Bearish Engulfing candle in the process.
Good opportunity to short here with a...