With the index having broken on the downside on last friday, we expect the market to continue the downward move to test the recent lows made. The SGX NIFTY indicates a gap down opening for the Indian markets today. For the day the index is likely to remain on a sell on rise mode. One may profit by building short positions on upmoves which are more than 50-60...
GRANULES INDIA as per daily chart analysis is in the downtrend channel and it has made four attempts to break the channel and once it crosses the resistance level 310 and in the fifth attempt it should give a breakout. So once 310 level crosses will update you.
So, tomorrow if Nifty cross 15840, then we see the upward momentum.
If Nifty goes down below 15760, then we should buy pe.
If Nifty is in rangebound between 15760-15840, avoid trading on tomorrow.
What's your view on this comment below in the box.
Vinati Organics has once again given a breakout of a downward channel. This is a behavior this stock has done in the past as well. The fundamentals of the stock is very strong and so can be a good one to hold positionally.
RELIANCE undoubtedly is a stock that managed to dodge the market carnage and gained significantly in the last two months. However the shorter time frame chart suggests profit booking and this could continue. The stock can find significant resistance near 1530-1570 levels. Upper range of this level can be used a stop loss and any move towards these levels can be...
PNB is testing Upper Trendline in a downward channel.
Upper downsloping Trendline may act as resistance.
Short at 77.20 ( cmp )
Risk 4.92% & Reward 17.94%
Risk Reward Ratio 1 : 3.65
Overall in a downward moving channel, so more downfall expected in Short Term/ST before things settle down.
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.
Downward channel: downfall to continue., given the turmoil in the NBFC space
Interestingly, on Sep 25 the volume was high & the stock closed in green, depicts interest amongst investors, where the stock closed at 131.