Clear Inverse Head & Shoulder pattern may reverse the trend. Today's bar is a strength bar formed 3LR pattern. RSI is healthy above 50. All these suggesting a buy at this level for a target of 1100. Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.
After the corrective move around end of April, the final leg of correction seems to have commenced in Nifty IT NSE:CNXIT . IT stocks including large caps like TCS and Infosys witnessed heavy selling pressure today. Looks to me that the selloff will continue and is the start of a corrective move in IT index before a fresh uptrend begins. I can see that IT index...
Maruti Suzuki NSE:MARUTI witnessed stiff resistance around 9100 levels today and closed even below 9000. I can see that the stock was pushed down after retracing 76.4% of the previous downmove and has also formed an Evening Star pattern. Good opportunity to short here with a small stop loss for a target in the 8500-8600 zone. Disclaimer: Views expressed here...
Media sector in general is looking weak and Zee Entertainment Ltd. NSE:ZEEL formed a large Bearish candle today. I can see that the price got rejected after retracing 50% of the previous downmove, and has also formed an Evening Star pattern. Good opportunity to short here for a target around 534 levels. Disclaimer: Views expressed here are my own, and should...
Nifty Formed Shooting Star Pattern on daily Candlestick Chart today(11-06-2018). Unable to decisively break resistance 10830. In case nifty close behind 10780 , then sell with Target 1: 10720 Target2: 10615 with SL 10850 which nifty touched today. Intraday play on 11-06-2018 , Sell nifty once 10780 breached with target 10720. S/R Derived from 1 day and 4 hour Charts.
It is observed that at current level demand emerges and price bounces back. It has formed a bullish Engulfing candle and RSI is also showing divergence. The stock is in downtrend and is still in oversold zone but still one can try a long here by roviding reasonable SL. Increased Volumes at bottom also confirming the long decision. Pharma stock has shown a good...
In 4 Hour CandleStick Chart , banknifty tested resistance of 26700 and pulled back. In 1 Day CandleStick Chart , Banknifty formed Shooting star + Doji Pattern. This can lead to mild Consolidation for some session. On Monday(11-06-2018) if Banknifty trades negative for 1-2 hours , then Short with target placed around near term support 26075. If Trades Positive...
Looks like we have a bottom in place for Pharma sector NSE:CNXPHARMA after the rally witnessed in Pharma stocks in the past few days. However, a small correction may be due if it is unable to cross 8650 levels, as it has stopped exactly around 61.8% retracement of the previous downmove and also formed an inverted hammer today. Tomorrow’s candle would be...
* CANDLE Pattern: Bullish ENGULFING ** FIBONACCI: Retraced Fib E 1.618 OF "DSK" *** Indicator & Oscillators: Bullish REVERSAL **** Price VOL. Analysis: "+VE" BREAKOUT. ... Entry, ... Accumulation, ..... TARGET, .... EXIT, Rest mentioned in detailed on chart.
This trade is for intraday basis on June 12. I can see that M&M NSE:M_M stock price has got nicely rejected after retracing 38.2% of the previous downmove, forming a Bearish Engulfing candle. Will look for selling opportunities below 912 if available near current levels for a first target in the 897-900 zone. Disclaimer: Views expressed here are my own, and...
Escorts NSE:ESCORTS has been struggling at the resistance zone around 922 levels. With a large Bearish candle on 15 min chart, the stock appears to be ready for breakdown. Good opportunity to short here with stop loss above 922 for a first target of about 900. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment...
Lupin LTD: - It is retracement 76.4 % move to previous high 2122.00 - Looks like double bottom (reversal pattern ) on Weekly chart - Very Good Risk Reward Ratio Trade With Strick stop loss Best Wishes
lupin has been on long term downtrend, today ( 8-6-18) the market is trying to break the major downtrend line, by forming engulfing patterns by candlestick on daily with good volume . we can see opportunity for buying.
It seems that at 70 level buyers emerge and find the stock cheap from where prices bounces back. It has developed the triple bottom and now strong green candle is developing. It offers a good trade with small Stop loss of just low of today. One can continue the trade with trailing SL for the target of 87- 93. It may work as a very good risk to reward trade....
The Stock is in downtrend but showing some strength at current level. It made a bullish meeting line and strong green candle thereafter. RSI is also above 30 after extreme oversold zone. Aggressive trader can use the today's pull back to enter long. Entry Current level 1329 SL 1298 Target 1415 - 1450 RR Ratio 2.77 - 3.90 Disclaimer : All ideas and comments are...
Tata Global seems to be starting a new up wave.
1. Tweezer Bottoms 2. Fibonacci 3. Wave Analysis All three seem bullish
eichermotors cuurently the market is in major trend line levels (green colour) which is in confluence with support levels (red colour) candlesticks forming engulfing patterns ( currently, candlesticks may change at the end of day ) on daily charts giving some indication for buying opportunity we can expect an upmove upto 3800 levels