HDFCLIFE has retested its previous swing high and made a bullish candle for the day. It can make an up move from the current levels. The next resistance can be 1.272 Fib level, which is around 730.
Cheers! This is as per my Analysis. Feel free to share your view about this. Please do your analysis before trading/Investing.
Nifty made a good bullish candle after trapping all the seller (who sold below doji). It respected the level 11800-11850.
Looking at momentum Nifty may breach 12000 in coming session. First target 11250. A profit booking may be seen here. Second target is 12400.
Banknifty is looking good to go long
(Plz go through my previous weekly idea of bn)
1. BN retraces after touching 24100 (yellow marked line)
2. Took support and bounced from 23150 level
(previously marked; green line)
3. It has breahed 200 dma convinsingly in PDS
making a bullish engulfing.
4. A good rally may be seen from here. First target 25100.
Tech Mahindra seems exhausted now and is not participating in the Amazing IT rally that we have seen. It can be considered the weak link in the It index even though it has given a wonderful return. Technically TechM has closed with a graveyard candlestick which indicates a reversal in the uptrend. One can enter into a short position around 870-875 with a strict SL...