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...
The Bear onslaught on Oil Marketing Companies (OMCs) has been going on for a long time now. However, with Crude starting to come down we may see some buying interest coming back to these stocks. Rupee is also at one of the lowest levels against Dollar, so a bounce back there may further help cut Oil Marketing Companies’ Losses. I can see the price making a...
SHRIRAM TRANSPORT was trading on the top but we can see price drop from top after Divergence with good momentum and support also broken,So now we need to wait for sell signal to enter,Do not enter without confirmation signal.
Waiting for entry setup is too hard,Let the market give you possible signal for entry,don't make setup by yourself and Don't try to take every setup, Spend time on chart to see which setup works most of the time and trade on only that setup and avoid all the garbage from your mind.Make trading simple otherwise it will be very frustrating business.
After a long uptrend, TCS NSE:TCS appears to have formed a Double Top today, facing stiff resistance around 3600 levels. I can also see a Bearish engulfing candle at the top with RSI showing negative divergence. Took short positions today with a target in the 3150 – 3200 zone. Disclaimer: Views expressed here are my own, and should not be interpreted as an...
Bitcoin showing bearish divergence on 4 hourly. Looking on bitmex.
ITC NSE:ITC is facing very strong resistance near 290 levels. It has been struggling around these levels since past few days. Now that the results are also out, looks like profit booking has started in this stock. I can see a Double top formation with a negative divergence as well as a Bearish Engulfing candle that it formed today. Good opportunity to short...
Coal India NSE:COALINDIA has reversed sharply from strong support zone between 260 – 265 levels. To me it looks like a double bottom formation with positive divergence. Good opportunity to go long with stop loss a few points below the double bottom lows and first target near 290 levels. Disclaimer: Views expressed here are my own, and should not be...
JSW Steel NSE:JSWSTEEL has been very strong and came out with a good set of numbers. However, it has been struggling around 333 since many days. Now that the result is out, profit booking seems to have started kicking in. I can see a divergence here with a large bearish engulfing candle that it formed today. Good opportunity to go short with a stop loss...
Bharti Infratel NSE:INFRATEL stock is doing good for the past few days in a falling market and has shown a sharp reversal from the 308-311 support zone. I can see a double bottom formation here with a positive divergence. Good opportunity to buy this stock for the near term with a target of around 350 and stop loss a few points below 308. Disclaimer: Views...
HDFC NSE:HDFC has been slowly rising towards its previous high made on Jan 29. However, the stocks has once again failed to clear the resistance around 1950 levels and is slowly moving down. I can see a Double top formation here with negative divergence. Looking for shorting opportunities in this stock with stop loss above recent highs and first target of...
Lupin NSE:LUPIN came up with better than expected numbers (operational performance) yesterday and the stock saw good buying activity today. I can see a double bottom formation here with a positive divergence along with today’s bullish candle. Good opportunity to go long with a stop loss near ~ 720 levels and first target of around 815. Disclaimer: Views...
As mentioned yesterday, a reversal in pharma seems around the corner. The stock has formed a good Double bottom with divergence and a large Bullish candle indicating that Buying Momentum is picking up. Good opportunity to go long with a stop loss near ~ 500 levels for a target of ~ 582. (However, keep an eye on the results) Disclaimer: Views expressed here...
Pharma stocks have been beaten black and blue since a long time now. This sector has shown almost no upside at all when other sectors have rallied turn by turn taking Nifty near 11000 levels. I can see a Triple Bottom Formation here with increasing buying interest near a strong support area in Nifty Pharma NSE:CNXPHARMA . Many Pharma stocks like Lupin ...
IT Index NSE:CNXIT has been moving sideways for past few days. With election results also out, there is hardly any indication that the correction in IT is over. KPIT has been struggling around 265 levels. I can see a Negative Divergence and a couple of bearish candles around the top. Looking for shorting opportunities in this stock with a stop loss near...