Short First & Long Later
Plan A –
Selling in 11685 -11710 for Targets - 11650-11660
Plan B –
Selling below 11650 for Targets - 11600-11615
Plan C –
Selling Below 11600 for Target zone - 11525-11540
Plan D –
Buying in 11600-11615 zone with strict stops below 11590 for 11700-11710 & Above 11725 for 11775-11800 & Above 11825 for 11980-12000...
Infosys has broken out of a long consolidation range and further we could look at a trendline resistance cracked. Daily candles have been solid for past couple of days. Noticeably, breakout candle had massive volume. These factors advocate strong bullish bias. Potential magnitude of upward movement can be derived from the depth of the consolidation which suggests...
BANKNIFTY breaks down after a short period of consolidation. Apparently, price action is showing a Bear Flag pattern, which is confirmed with a close below 30,530. Target of the pattern comes in at 29,330.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or...
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NIFTY is in retracement of fall from 5th Jul to 9th Jul post Budget. NIFTY will retrace 31% level to 11665 then follow the bearish trend till 11111, which is double bottom of price reached on 14th May prior to Election result.
NIFTY fall will also close the gap occurred after 17th May closure.
Axis Bank had been on a good bull run tracing a rising channel. Strength in bulls looks to have lost steam where it couldn't make new highs.
Right now, looking at the chart we could identify a Double top pattern with neck level at 760. Yesterday's close below the neck level has confirmed the pattern and it would be right to take bear bias. However do look for a...
On the back of Crude inventories data released by American Petroleum Institute(API), according to which inventories fell less than expected, the commodity declined sharply citing lower demand. For further confirmation of the same one can watch crude inventories data about to be released by US government's Energy Information Administration (EIA) at 20:00 Hrs IST....
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YESBANK broke up out of a bull channel and failed with quick selling , expected to go down to the bottom of the channel , even lower ,
Can short at CMP with stop loss 103.5 and targets of 90-91
CMP 373 | PRZ 377-379 | SL 381.50 | T1 373.50 | T2 369.50
Chart by @avyaktha on 17-07-2019
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Muthoot Finance exhibit a very similar price action to Manappuram. It should be natural considering the magnitude of similarity in their business models.
Like Manappuram, Muthoot has bounced off a trendline support, where we could also see a demand area i.e. around 600, which also happens to be a round number. With their nature of business involving gold and the...
USDINR 4hr time frame, upcoming week usdinr may seen bullish.
On the daily time frame we can clearly see a bullish engulfing candle closed. on the four hour time frame there can be create a inverse H&S if price gives pullback from 68.79 to 68.44. 4hr time frame rsi is diverging as bullish. daily time frame rsi is oversold and made double bottom. weekly time rsi...
As per chart there are 2 scenarios.
For Long - If it breaks 770 take entry for long. once it breaks this will reach Fib target (1.61) 837 with out any noise.
For Short - if it breaks 698 we can take entry for Short and the target are 685, 670, 651.25 (as per Fib)
and 630 ( previous day support.)
But in my view infy will...
Bajaj Finance shows dual pattern. One is a Descending triangle pattern implying a bearish outlook and the other is a Bear flag indicating bearish continuation. Both the pattern looks valid by breaking the common price of confirmation at 3380.
Descending Triangle: Depth of pattern looks to originate from 3760 towards the base of 3380, forming a considerable 380...
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BIOCON opened below support this week and closed strongly above levels with good buying ,trapped shorts will exit if trades above 256.
Can Buy above 256 for long term targets of 278 and stop loss of 243 .
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This is in continuation of Nifty political analysis posted last year , exit polls sentiments have created a perfect scenario for nifty to make a new high during results .
1. Gapped up and closed above a resistance zone by 200 points . Trapped shorts so expect short covering which can take...