Chart Patterns
Bank of IndiaHello and welcome to this analysis
Since end Jan we have see the stock consolidate and drift down, prior to that for 4 years the stock gave a strong rally.
Crucial support at 90-95 with strong resistance at 150.
Investors could look to accumulate as medium to long term outlook remains very strong.
Had covered Union Bank of India earlier this month. Link is given below, can check the analysis for it too.
Happy Investing
Break Out for 26 AugTrading is a game of Probabilities.
When you figure out that a trade is a losing trade within a few days of buying, don't shy away from exiting it instead of hoping for it to move
Big winners move from day 1 and give follow through on day 2/3 and keep moving higher by at least 15%-20% in 1-2 weeks.
Breakout or Trap? Nifty & Bank Nifty Surge Ahead - Be Cautious!!Nifty and Bank Nifty are showing some strength!! We may see new ATH looking at the charts,
till the time Nifty does not clear 25300 we are in trouble waters!!
Above that level we should see a strong upside movement!!
All i can say is stay cautious till tht time, lets see a strong breakout rather then fall in a trap!!
SBI CARDSHello & welcome to this analysis
Stock has been a major underperformer continuously making lower high and lower low.
In the immediate short term it needs to start sustaining above 720 to witness short covering and then above 750 it could witness institutional buying.
Failure to hold 690 on daily an 680 on weekly basis could lead to further weakness.
All the best with your investing and trading
Scanner shows - IRFCKeeping the faith on my scanner and investing in its throwup, i have decided to put in money on IRFC today, hoping to make good as my last trade. (though did not put in other two power sector companies which my scanner had given; and they did make good money). This is a swing trade - few days to a month or so holding period.
Nifty Breaks Out After Days of Range-Bound Trading, What's Next?After more then two weeks trading in a zone 24000-24350 levels nifty finally breaks out from the range.
On uppers side there is a gap which NIFTY is halfway and looks like it will fill the gap as well!!
Gap is from 24700-24300 level
Major support zone is at 24100 levels.
This week should see NIFTY hitting 24700 and also 24450 levels as well. Which one will come first is wat we have to see. !!