NIFTY closed on the weekly chart with a DOJI indicating indecision in the market along with the classical double top pattern. If the level is not breached, there can be minor correction in the market.
A symmetrical triangle was spotted, however the breakout could pass the 3% closing test and hence no trade.
Disclaimer: I am a novice in the markets, so please don't construe your trade basis this chart. I post it to see if my views holds true.
Tata Consultancy Services which is famously known as TCS stock, has formed bullish harmonic pattern on daily chart. May test 2550-2600. Support seen at 2420.
Very good bounce back from recent correction. Closed at 400 on 11th August Friday. May test 420-450 levels , Closing basis support should be seen at or below 398.
NLC India Ltd
15.5.2017
Trade
Company Profile:
NLC India Ltd. is engaged in the mining and exploration of lignite and generation of thermal power in India. The company owns opencast mines and thermal power stations. It supplies power to diverse industries such as electricity boards, cement companies and paint companies, in addition to other...
Wipro daily chart is showing negative divergences with MACD and Stoch RSI. Today's Close is at 490 which is very near to resistance of 500. Also, possible pullback can be expected considering the today's close just above the boundary of upper Bollinger band.
These 4 reasons indicate the price pullback in next 2 trading days. Prices may test the resistance of 500...
Double Bottom has been formed on daily charts of Infosys hinting a bullish trend in coming days. Weekly trend is also UP.
But in short term, a bearish divergence is formed which can lead to a small correction/sideways movement in coming days and then it may continue it's long term bullish trend.
Buy is suggested post correction.
