If ASHOKLEY is bullish then following are the possible levels
Now it is being tested at level .316 Fib. Wait for the price to cross both the downtrend lines.
So the safest entry (if bullish) is when price exceeds 46.5
First Target 51.5
If it crosses 51.5 then
Second Target 54.20 which is 0.382 Fib
Third target 60.5 which is 0.5 Fib
Fourth target 67 which is 0.618 Fib
Those who are looking for investment ideas with a medium to long term perspective can look at L&T for targets of 1040 - 1120 levels.
Levels are mentioned in the chart.
Alternatively for a short term trading idea one may also consider the following strategy for L&T
Consider selling L&T 30 April 2020 Put Option
Lot size :375
Strike Price: 740
With great numbers published for Q1 deliveries and potential an online-only but still maintained battery day in April (20th) just before the Q1 earnings call, we could see the stock rise despite the global pandemic and impact on the market to close the 3 gaps up before going down again as Q2 numbers will be hugely impacted by the shutdown/lockdown.
I dont think...
Asian Paint bounce back from its Weekly Upward Channel Support. It is also bouncing back from the 100 day EMA dynamic support level. Can go long.
SL- Below the Upward Channel Support.
Target- Upward Channel Resistance.
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ICICI Bank making a long wick on its monthly trend-line. Its also the 100 Day monthly EMA from where it has been bouncing a lot plus its also a major Supply-Demand Zone. Might see a bullish move from here after the monthly candle close.
March Monthly candle will decide Nifty's Future.
Personally I feel coronovirus panic is short lived and market will soon be bullish. Many theories suggest that this was a planned chaos created by Chinese govt to surpass Western Economy.
Once they achieve their goal things will be back to normal.
Although in worst case, Nifty will find support around 2008...
Overshot 0.618 fib plus hit the lowest of 2020.
GF1 Nevada being classified "Essential" , GF2 NY reaching 1000 roofs production per week, Model Y deliveries starting, 1,000,000 vehicules which translate in over 105k production in Q1... a lot of good news in the past few days!
As usual I don't know what I'm doing.
Spicejet is at a level which historically has acted either as a strong resistance or strong support.
If the level is held then Spicejet has a strong possibility of jumping back to 95 / 102 odd levels.
On a fundamental note
- Corona virus fears have let to many flight cancellations
so in the short term, things could be difficult
- but recent price drop in...