Falcon Analytics Outlook Nifty 50 for the Expiry week ( Jun 20 – June 24 )
Last Weekly Nifty witness selling pressure below 16057 , while the pivot for the week @ 16327 was not breached on upside.
Technically for this week on the daily charts we see minor support on the downside for Nifty50 index lies at 15185 levels,
whereas minor resistance on the upside...
In search of the next bottom, we look for five-wave declines to complete. Prices have been falling inside a channel and a breakout would put us in the price territory of the previous ivth wave near 16404 to the gap zone near 16484. But what if we do not breakout and keep falling below 16000 we could see a free fall with multiple extensions on the downside....
Mindtree near the support zone
A hammer at the support zone, could bounce high from here. IT is showing weakness to be careful and trade with strict stop loss
Anything candle close below the support zone can be a trigger to get out!
For the big guy ITC Ltd. ... today's bounce back is encouraging ... (233-238) range is where the stock will face supply ... short term traders can take note
Chart is self explanatory.
APL Apollo has been trading in a channel pattern and is expected to continue this. Strong bounce from support and decreasing MACD divergence with key RSI level 40 kept further strengthens the conviction.
This is only for Educational Purposes and not a Trading/Financial advice.
Thank You ^_^
#HDFCBANK after breakout beginning of month it has retraced to resistance zone which could result in
change in polarity bounce in addition it now has bullish momentum reverse divergence as well both on daily
that could take it back to 1598 at least. remember both are not confirmed yet.
however make note that there is resistance up there at 1641 but that has...
HEROMOTOCO is likely to take a BOUNCE from support line @ 2700 lvls as suggested by a bullish candle and past behavior on the chart
TRADE
BUY @ 2700
TARGET 1: 2800
TARGET 2: 2875
STOPLOSS: 2590
Price is bouncing from the bottom line of the symmetrical triangle pattern. It broke a trendline and retesting it in a smaller timeframe. Hope you find this useful.
NIFTYMETAL/NIFTY ratio chart is exhibiting retracement from its pullback from last highs. The ratio has shown successful retracement toward 0.318 Fib level and seems to have successfully bounced from that level. This is bullish development for the metal stocks in the coming weeks. We may see the price going back to the previous high and beyond.
Watch ACC for an trade oppurtunity.
Wait for bounce or breakdown, check the volume for confirmation.
Retrace would be a good entry.
Disclaimer : Sharing my ideas only for knowledge, please don't interpret as buy/sell/hold call. Do your analysis before any action !!
Nifty View: Some relief for the benchmark Nifty as it saved itself from a whitewash of all negative days this week. Today the index managed a smart bounce back to gain 0.2%% for the day to close at 15,741. The good aspect of this bounce back is the fact that it came from our anticipated zone of (15,650-15,700). Nothing to be too excited about right now as the...
