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Bharatjhunjhunwala

Nifty is creating a value area, moving above it is necessary...The index created a new high this week, failing to close above it. The small body candles are creating a value area at the highs, it’s very important for Nifty to move above this value area to establish strength, the rally is fueled by small and mid caps, Nifty should support this overall movement. While the RSI is displaying divergence, the major momentum doesn't seems to be affected. MACD is bullish above zero line with a minor divergence. A move above the value area 12400 shall push Nifty to 12545 & 12930 levels (this is unchartered territory) 12170 levels will serve as strong support to the index below which it can be dragged to 12000 levels, though 12170 is a very strong support.
NSE:NIFTY
by BharatJhunjhunwala
Ashok Leyland is holing on support, is it enough to carry ....The stock has held on to support levels since couple of weeks. The current momentum is picking up and is expected to move up in the coming weeks. The RSI is into bullish zone and the price is forming accumulation formation. Currently trading at 84 the prices seems to be bit extended. Positions can be created till 82 on corrections above which the stock may rally to 94 & 112 thereafter. 79 levels are key support 76 is critical support levels for the stock. Below which resumption of trend down may occur.
NSE:ASHOKLEYLong
by BharatJhunjhunwala
Visible strength above 485 closing basis.Auropharma was into a sideways zone since last few weeks. In the last session an attempt has been made to break above the zone. 480-485 levels will serve as near term resistance above which the stock can move up to 560 zones comfortably, the next supply area is placed there. The RSI has maintained itself well into the bullish levels,also the MACD have turned positive. All the above indicators are setting up positive bias for the stock.
NSE:AUROPHARMALong
by BharatJhunjhunwala
. The stock has to maintain itself above 55 levels, if it holds The stock has been trading with strength since last few sessions. It has been above to maintain above the support levels. An inverse head & shoulder pattern is visible on the daily chart. The breakout took place in the last session. The stock has to maintain itself above 55 levels, if it holds the levels then we may witness emergence of a fresh bull run in it. A minor resistance is placed at 60-62 levels, above which the sky is open for the stock till 76 levels. Below 55 levels it may resume downtrend ok keep trading sideways. The RSI is maintain well above 50 levels from last few weeks and MACD has moved into bullish zone as well. Buying at dips till 55 is suggested.
NSE:TATAPOWERLong
by BharatJhunjhunwala
2
. A sustenance above 12290 may push up the prices to .....The index pulled back in a great way after the Middle East tensions. The prices halted at the previous highs. The momentum (RSI) is into a sideways zone and still diverging with the price. A sustenance above 12290 may push up the prices to 12360 – 12500 levels, however any failure to sustain above the levels may push nifty to 11930 where it may find support. The MACD is above zero line (bullish) while RSI has slided between 60-40.
NSE:NIFTY
by BharatJhunjhunwala
31450 levels will serve as a strong support to the index....Finally a eventful week ends. This week made trading the most difficult task. Price actions were impacted by the tensions between Middle East and US. In the end the indices did manage to sustain most of the losses that were made by the attack news. The last candle on bank nifty was undeceive though the weekly close resulted into a hammer.31450 levels will serve as a strong support to the index, if bank nifty sustains above this then 32460 – 32860 seems to be eminent targets. A move above 32200 will assure the above levels. However a failure to keep up above this level may result into a pullback to 31450. The MACD is into the bullish zone while RSI is neutral with bullish bias.
NSE:BANKNIFTY
by BharatJhunjhunwala
The RSI and MACD are displaying divergence, if the formation is The weekly banknifty chart has closed negative this week, back to back two bearish candles also indicates momentum suppression in the index. 31800 will provide immideate support to the index, giving away this may push the index to 31300 levels. However the trend is still up and any bounce from the support will push banknifty up 32600, 32800 & 33300 finally. The RSI and MACD are displaying divergence, if the formation is not negated in coming sessions then correction is quite probable.
NSE:BANKNIFTY
by BharatJhunjhunwala
This 12200 levels will serve as minor supportThe index has been consolidating in a sideways range since last two weeks. A triangle pattern is visible on the daily charts, the breakout is yet to occur. The prices are holding the TS line support tightly. This 12200 levels will serve as minor support while 12070 the KS line is an important support. Any redound should take place from these supports. Nifty is set to move to 12310, 12380 & 12500 levels. But when we look at the RSI, the momentum seems to lose its strength, I would really like the RSI to break up from the 60 levels which it is tested a multiple number of times.
NSE:NIFTY
by BharatJhunjhunwala
Infosys is ready to follow the overall sector?Infosys was hovering around a very strong resistance from past one month, in today’s move it finally gave a close above the same. If the price is able to sustain above it for a session or two the stock may be ready to scale up further. The weekly prices are above the kumo while same is seen on the daily charts too. The CS is free the prices are expected to move towards 795 area. RSI is now at 60 while MACD has moved above the zero line. Immediate support placed at 720 while critical support at 710. Buying on dips above them makes sense.
NSE:INFYLong
by BharatJhunjhunwala
Banknifty may attempt to correct. But......Banknifty is losing momentum gradually, we can notice a divergence on RSI with doji formation though divergence is not indication of trend change, a detour may not be ruled out. The MACD also displays divergence. Probable support at TK & KS confluence placed close to 31800. However there is no point in pre attempting correction, rather wait for price confirmation. Also to bring to notice there is a volatility divergence as well.
NSE:BANKNIFTYShort
by BharatJhunjhunwala