SHRIRAMFIN – Is the Bullish Momentum Here to Stay?🔥 SHRIRAMFIN – Is the Bullish Momentum Here to Stay?
💡 Market Action:
✅ Bullish Marubozu spotted – strong buyer interest!
✅ EMA 200 Crossover – long-term trend gaining strength.
✅ RSI Breakout – momentum picking up.
📌 Key Levels to Watch:
📈 Resistance: 590 | 599 | 615 🚀
📉 Support: 564 | 548 | 539 🛡
🔹 High: 582.25 | Close: 580.85
👀 Market Insight: Can SHRIRAMFIN sustain this bullish momentum and break past 590, or will it pause for a retest near 564 before the next move?
Bullishmarubozu
Strong Bullish Momentum with RSI Breakout📈 Stock: BSE Ltd (NSE:BSE)
🔍 Closing Price: 5631
📊 Patterns: Bullish Engulfing, Bullish Marubozu, Strong Bullish Candle
📉 Technical Signal: RSI Breakout
Key Observations:
✅ Bullish Engulfing & Marubozu indicate strong buying pressure.
✅ RSI Breakout, signaling increased bullish momentum.
✅ Strong price action with a decisive close near the high.
Key Levels to Watch:
🔹 Support Zones: 5295 – 6009 – 6345
🔹 Resistance Zones: 5295 – 4960 – 4770
Trading Plan:
📌 Sustaining above 5675, potential upside towards 6009 and 6345.
📌 Below 5295, a pullback towards 4960 could be possible.
Radico Khaitan, Buying Opportunity..!!As of 20/5/21
Current Trend: Sideways
Resistance levels: Around 566 price levels (Broken today with volume)
Patterns formed: Flag pattern
Single candlestick pattern: Bullish marubozu
RSI: 66
MACD: Short line over Long line
Analysis: Flag pattern's upper resistance level, as well as horizontal resistance level, is broken on 20/5/21 with very high volume and a bullish marubozu candlestick pattern is also formed. Moreover, RSI is above 60 and MACD is also giving a positive signal. 5 Day MAE is also above 13 days and 26 days Exponential moving average.
All such indications suggest going for a long position (Buy).
**A slight correction can be seen in the stock price in the coming days up to 578-580 levels before moving in the upward direction.
Stoploss should be around horizontal resistance level.. ie. 565-567 price levels.
The initial Target can be up to 10%.
NOTE: Buy the stock only when the overall market is positive. If the market tomorrow opens negative, then chances are that the stock will correct up to the mentioned level.
Feel free to comment below your ideas..