Devyani is looking a good candidate for support bounce
Logic:-Stock is trading in channel. The price action is impressive but a confirmation is not still visible.
The stock has delivered poor results and is available at PE multiple of 138x.
Only risky traders should be interested in this.
* Bajaj HLDG approaching 200 EMA (5855.30) on Daily time frame
* Monthly RSI above 60
* Daily RSI approaching 40 ( currently at 48)
* Trendline support from 6-7 months
* Entry on positive candle with confirmation
- Looks bearish as of right now but with positive market and positive price action with confirmation on Daily/Hourly time frame would give a good R:R
HDFCLIFE is in a Range since it has been listed in the market and is continuously making higher highs and Higher Lows in a weekly time frame which suggests that it is in a UPTREND and therefore can be bought at the last support level for a potential next upswing.
It has come back to its support and further trading at the trendline where potentially it can take...
#BANKNIFTY analysis for tomorrow. In my opinion the market will be bullish tomorrow. if the market cross 42150 zone then we can go for CE(CALL) first target= 42252.42379,42460,42514. if the market cross 41998 zone then we can go for PE(PUT) first target 41912,41866,41712,41661....
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!
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 ^_^