Mindtree - Topped out ?Mindtree NSE:MINDTREE has been weak since past 3 weeks among the IT pack.
It broke the crucial support at 1100 last week.
Also, there is a Bearish divergence on weekly chart.
Good opportunity to short here with stop loss a few points above 1100 for a target around 930 levels.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
Divergence
Banknifty – Trendline broken Banknifty has been very weak since past 2 months and Friday’s fall suggests the weakness might extend further.
I can see RSI divergence on weekly chart and also breaking of the long term trendline.
We might have a pullback but so long as 26400 levels are not broken, it can retest or break Friday’s lows in coming weeks.
Good shorting opportunity for a first target around 25000 levels.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
Prawn Lovers be ready to eat..Double bottom Avanti feedStock made exact double bottom with Divergence
EUR/AUD Technical analysisThe 4 hour chart of EUR/AUD has formed a deep crab pattern along with MACD histogram divergence formed.
So, It is expected to be bearish and would reach the target.
KAJARIACER Looks Good For Swing TradingKAJARIACER: Daily Chart
Price took support on Weekly support.
Price broke through trendline and also 50 EMA.
Currently, Price is in pullback mode and formed Inside Bar.
There is divergence in RSI and Price Action, Price making lower low and RSI making higher.
It can move upside if successfully breaks out of Inside Bar.
Education purpose only.
NSE:VEDL LongVEDL Looks good for a long trade considering,
The divergence in MACD and price at lows of July & August on daily charts
MACD buy signal below Weekly is due. If the price is lead by a break-out above 235 and can lead to a trend reversal with a target of 350 keeping SL below 200
IndusInd bank - Topped out ?IndusInd bank made a lifetime high around 2040 on August 3, 2018.
However, with other strong banks like HDFC bank and Kotak bank coming off their highs, looks like IndusInd bank too will follow a similar path.
I can see that the stock got rejected at its long term trendline resistance and is slowly moving down.
Good opportunity to go short with a stop loss of 2050 and successive targets of 1950 and 1900.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
SHORT TERM TRADING VIEW ON RELIANCE INDUSTRIES LIMITEDReliance Industries Ltd currently trading at 1203.75 spot as on 17th Aug 2018.
After reaching its 52 week high at 1231.7 on 9th Aug 2018, The stock made a possible pullback (low at 1182.7) and currently trying to break on upside. Price is making higher lows considering the previous rise (from 1112.5 to 1231.7) followed by pullback (1231.7 to 1182.7) and currently trading at 1203.75, trying to break upside which is clearly a bullish signal. (Check trend line, and other markings on price chart). While we also see the hidden bullish divergences on RSI and MACD. Also Volume figure shows clear divergence likely to break on upper side. The same has been illustrated in the chart using trend lines.
Considering all the points, probability to break on upside is more. Accumulation can be done between 1185 to 1200 levels.We are expecting a targets of 1230 first. If it breaks that, 1250/1260 is quite probable to reach in short term. While its all about the probability, stop-loss shall be maintained if the price moves below 1180 levels.
Keep trailing your stop-loss once in profit. Please note that all the levels provided here are as per cash levels.
Please note that views shared here are personal and for educational purpose. Please consult your own financial adviser before taking any trade.
Happy trading!
Banknifty - Topped out ?After a huge rally that stretched for more than a month, looks like Banknifty has formed a top today.
I can see a Bearish Engulfing candle with a Negative Divergence on Daily chart.
Good opportunity to short here for a target around 27300 levels with a small top loss.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
Nifty Metal – Bottomed out ?Nifty Metal NSE:CNXMETAL has been downtrend ever since mid January and metal stocks have been hammered black and blue due to the trade war worries between US and China.
However, the pullback this week from the lows of 3060 was quite strong and I can see a bottom formation here with RSI showing divergence.
Good opportunity to buy stocks like Hindustan Zinc NSE:HINDZINC , JSW Steel NSE:JSWSTEEL with stop loss at their July lows.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
TCS - Topped out ?After a seemingly never ending rally, looks like TCS NSE:TCS is taking some break near 2000 levels.
IT NSE:CNXIT in general looks in profit booking mode and with dollar coming off from all time high, we could see further fall in heavyweights like TCS , Infosys, Wipro at least for the time being.
I can see that TCS formed a Double top around 2015 with a negative divergence and it has broken the neckline at 1972 levels.
It broke the trendline as well on Friday.
Looks like the stock is heading towards 1883.
Good opportunity to short here with a small stop loss.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
USD/JPY longRSI and Price pattern showing divergence (yellow lines) with a strong support (blue line) on the daily chart.
2B Reversal/DivergenceChart has formed 2B reversal pattern which can be used for a reasonable Risk to Reward trade. One can enter a long where SL of 583 is affordable. Target 640
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
Double bottom with divergence combinationPerfect Double bottom formation
1) SL is 382
2) divergence formed with double bottom formation
3) money flow is up..
4) 1st immediate tgt is 440
heritage looks like we are at the end of the correction,
weekly bullish order block
4h bullish divergence
possible end of the triple 3 corrective wave here
if we want to form a 3,3,5 corrective wave, then the price might go lower
2B Reversa/Falling Wedge/Bullish Harami confirmation/Divergence The stock is showing 2B reversal at current level. It has formed falling wedge pattern and seems getting strength at lower line moreover last bars confirmed a candlestick buy. RSI is showing divergence so we can consider a buy the stock with the following details
Entry 190
SL 181
Target 205
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
LUPIN LOOKS GOOD TO SHORTPrice dropped from top after divergence and it can be very good trade with good Reward.
bearish divergence on daily time frame USD/INR showing bearish divergence USD will fall IN upcoming session
this will benifit IT companies
DXY Technical analysisThe dollar index is currently trading around a minor support zone.
The price action and the stochastic indicator is showing a divergence. So there is a good chance of bounce back.
It will retest the broken support zone which is a good time to short.
