HDFC Bank NSE:HDFCBANK appears weak as the stock went down even when Nifty was up around 125 points. I can see that the stock is facing heavy resistance around 2160 levels and has formed an evening star like reversal pattern with Negative RSI divergence. Good opportunity for option writers with stop loss a few points above 2160. Disclaimer: Views expressed...
VERDICT: 1) FORMING HH & HL from last 6 sessions 2) Divergence is forming after todays HIGH (26 Jun) 3) Defined SUPPLY-ZONE is between 1916 to 1932 & above 4) Broke triangle formation with lower than average volume, but after that maintained above average volume. 5) HDFC has seen 75 % delivery on avg of 8 days => HIGH DELIVERY means PEOPLE are expecting price...
Eilot wave formation on recent candles (based on CLOSE) which suggests on 26th June, market should close around 10830 (10824 is resistance level) This analysis is confirmed by HIDDEN DIVEREGENCE seen on STOCHASTIC graph.
Levels Mentioned in Chart
USD/INR FX_IDC:USDINR has been hovering around the 68.5 mark for quite some time (around a month) now, and has started to come down slowly. I can see that the price has formed a Double Top with a negative divergence. Looks to me like the price is slowly approaching 66.85 levels. Good opportunity to short here with a small stop loss. Disclaimer: Views...
Yesterday and today Banknifty bulls made a vehement attempt to get it past 26700 levels to reach 27000 but looks like the Bears have heavily guarded the 26700-27000 zone. I can see that the upward trendline which Banknifty NSE:BANKNIFTY respected since March 22 has been broken and today it made a failed attempt to bounce back as the price got rejected at the...
ALL LEVELS ARE MENTIONED ON CHART. Shown divergence (with Stochastic) followed by a candle with long tail confirming reversal. Spoted the supply zone (shown on chart). Should reach till supply zone without interuption
With Metal Index looking Bearish, selling pressure seems to be mounting on JSW steel NSE:JSWSTEEL as it formed an extremely Bearish candle on Friday. I can see that it has formed a Double Top like structure around 344 levels and is showing Negative Divergence. Looks like the stock is heading towards 307 levels. Good opportunity to go short with a small stop...
I can see that Nifty NSE:NIFTY has formed a nice Double top around 10900 levels with RSI divergence. If it fails to cross this hurdle it may come back to 10420-10490 levels. If it breaks 10900 and sustains above it on closing basis the trade is invalidated. Good opportunity yo short here with a small stop loss. Disclaimer: Views expressed here are my own,...
This trade is for intraday basis on June 12. I can see that Cipla NSE:CIPLA is struggling at the resistance zone around 562 levels with a negative divergence on 15 min chart. Will look for selling opportunities below 562 if available near current levels for a first target around 546 levels. Disclaimer: Views expressed here are my own, and should not be...
This down trending stock is showing some strength recently and refused to make further low, thus formed double bottom. It is showing RSI divergence. One can buy the stock as per details given below Entry 112 SL 107 Target 132 RR 4 Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.
This trade is for intraday basis. Dr Reddy NSE:DRREDDY appears to have topped out on 15 min chart around 2070 levels. I can see a negative divergence here with price coming down slowly. Good opportunity to short if it stays below 2070 for a first target around 2035 and next target around 2000 levels. Disclaimer: Views expressed here are my own, and should...
This is strictly on intraday basis. Aurobindo Pharma NSE:AUROPHARMA appears to have topped out on 15 min chart around 577 levels. The stock is struggling around 575 levels. I can see a negative divergence here with price coming down slowly. Good opportunity to short if it stays below 575 for a first target around 559 levels. Disclaimer: Views expressed...
This is strictly on intraday basis. Wockhardt NSE:WOCKPHARMA appears to have topped out on 15 min chart around 705 levels. I can see a negative divergence here with price coming down slowly. Good opportunity to short if it breaks below 686 for a target around 665 levels. Disclaimer: Views expressed here are my own, and should not be interpreted as an...
Tech Mahindra has been struggling to cross the resistance around 722 for past few days. With IT index looking weak, there is a high probability that the stock may crash soon. I can see a Double Top formation around 722 levels with a negative divergence. Good opportunity to short here with stop loss a few points above 722 for a first target around 640...
Pateleng is forming a bottom around the daily demand zone, RSI is also showing positive divergence on daily chart I would buy at 61 for T1 = 65 T2 = 69 T3 = 75 T4 = 81 SL = 58.9
Tata Elxsi NSE:TATAELXSI has hardly corrected at all from its top and is close to its high on April 26. With US dollar coming down with respect to Indian Rupee after a huge uptrend and IT sector also looking weak, looks like this stock is ripe for profit booking. I can see a Double top formation here with negative divergence. Good opportunity to short here...