Nifty has been trading in a range for last 4 trading days, finally giving a close above the 17k levels but still trading near the resistance zone. The market on the hourly charts, is showing a higher high higher low formation and the halt candle are showing some trend reversal signals. The market on the expiry day has given a nice upside movement. There are...
As we can see BANKNIFTY got rejected from the previous acting SUPPORT which is now acting as a RESISTANCE. BANKNIFTY cannot be said to have changed the trend unless it breaks the previous psychological level and the support of 40000 levels hence from these we can analyse that BANKNIFTY is still in downtrend as of now unless its recent high is broken
Nifty for last 3 trading session has been holding a support zone and closed almost flat. There are chances of a trend reversal and if it happens nice bullish momentum can be captured. Market has been consolidating in a narrow arrange and tomorrow being monthly expiry can give good trending market. In the second half, nifty remained in 50-60 points. A nice...
Namaste! Bikaji Foods and Haldiram's control 50% of the organized namkeen market in India. The people, mostly retail would have thought this would be a blockbuster IPO considering whopping 80.63 times by QIBs (Qualified Institutional Buyers). Generally this kind of oversubscription leads to very good listing gains, but this time it didn't happened. The reasons...
As we can see BANKNIFTY got rejected exactly from the SUPPORT and the psychological level of 40000 levels and had been bearish ever since. Hence BANKNIFTY still seems bearish as of now unless BANKNIFTY sustains above 40000 hence keep watching as either of levels is broken we can expect a good move
Dear All, Yesterday was a very volatile day, which had finally ended with a perfect Doji , a single body formation. Furthermore, a cross harami formation, which is a double body formation altogether is once again indicating a reversal in this declining trend of Nifty. So, as of now, still these 2 important levels of Nifty, i.e., 16800 and 17180 are...
Mannapuram Finance Cmp 117.50 dated 24-3-2023 1. Bearish Candle @ Resistance. 2. RSI breakdown Sell below 116.50 for target 113-110-108-105-102 SL 122 It is just a view, please trade at your own risk.
Indigo Cmp 1865 dated 24-3-2023 1. Big Bearish Candle 2. RSI negative divergence. 3. Triangle Breakdown below 1865 Sell below 1860 for target 1840-1820-1800-1785 SL 1900 It is just a view, please trade at your own risk.
Apollo Hosp Cmp 4285 dated 22-3-2023 1. Hammer Candle @ downtrend 2. RSI Divergence 3. Buy if breaks high of the hammer candle. Buy above 4300 for target 4350-4450-4500-4650 SL 4200 It is just a view, please trade at your own risk.
Analysis :(27/03/23) Liquidity :(Buyside) Higher liquidity "P" has been taken. Now only Liquidity level "Q" & "R" is left to grab toward the buy-side. Volume profile : (Neutral) Price is inside the 70% of top volume profile bulge. VWAP :(Sell-side) At 2 ST. Deviation. Scenarios for this week : i)May take liquidity either at any levels "a","b","c" levels or...
Dear All, So, in the last week we had seen the importance of the 17180 level as a Resistance on a closing basis. Wherein, on not being able to sustain over the same, Nifty had shown us a further decline towards the level of 16945. So, in overall Nifty is currently somehow consolidating between the levels of 17180 and 16800. Furthermore, just as we had...
Hindustan Zinc looks attractive... Fundamentals : Strong, Leader into Metal sector consistent on Sales, Profits, EPS. High Reserves vs low debt.. Technicals : Taken Trend Line support with Multiple Hammer candles.. Weekly closing above 21 and 50 EMA. Good RR R1: 350 R2: 375 R3: 400 SL : 295
NSE:SBILIFE closed last week with bullish engulfing candle. If the price starts to travel and close above 1127, I would look for positional target of 1168 with small resistances in between placed at 1133, 1145. SL can be low of Fridays candle 1088 Is it a co-incidence that both HDFCLife and SBILife made bullish engulfing candles last week? May be some of the...
NSE:CHAMBLFERT closed last week with bearish marabozu candle. It's at a pivotal weekly support of 260.8. If the price moves below that and closes below 256 which is monthly support expect the stock to test 237 and 208 levels positionally. Short the stock in cash if you'd like and if you have the risk appetite then take an option trade cos any sideways action...
NSE:CNXMETAL index is looking weak on charts with multiple bearish formations in place. Referring to candlesticks, last week's close has come with 3 inside down candles. Though this candlestick pattern is not completely reliable, it suggests price making lower lows and the index is witnessing pressure! On last week's candle, it also formed a bearish marabozu...
NSE:NIFTY is looking weak on quarterly charts as its making bearish engulfing candle. I am going to look out for March 31st expiry and a close below these levels ( 17021 in Future and 17102 in spot ) will confirm the bearish engulfing close. If this happens, expect next 3 months also to be of sideways action with more consolidation and open to downside. Let's...
Go Long above 1177 for Targets of 1292.95, 1408.9, 1524.85, and 1640.80 with SL 1061.05 Reasons to go Long : 1. On a Weekly timeframe if we draw the Fibonacci retracement tool from the all-time swing low (point A) to the all-time swing high (point B) then we see stock took support from the 0.618 Fibonacci level. 2. Also a bullish candlestick pattern Bullish...
As we can see NIFTY had been trading in a tight range of 400 points between 16800-17200 levels which shows there hasn’t been any big move recently which gives high chances of trending market coming up anytime sooner. To identify the direction of the move we must make sure NIFTY breaks either of the levels with proper sustainment hence for confirmation of direction...