As on 18/09/18, Bank Nifty is in downtrend as per candlestick pattern and also moving averages. Crucial Resistance level is 26644.36 and crucial support is 26363.54. If it breaks 26390 then sell bank nifty for target 26302/26131/26041 with stoploss 26500. Also, Bank Nifty is forming bearish engulfing in monthly time frame.
BEARISH ENGULFING IN BANKNIFTY
SHORT TRADE IN BANKNIFTY
BUY PUT OPTIONS OR SHORT THE FUTURES
LEVELS GIVEN AS PER CASH MARKET RATES
PLEASE ADJUST ACCORDINGLY IN FUTURES
After a steep fall of 3 months, looks like Ashok LeylandNSE:ASHOKLEY has resumed its upward journey from August.
I can see that the stock has reversed from its long term trendline forming a Bullish Engulfing candle.
Also, it has reversed after retracing 61.8% of its previous upmove.
Good stock to accumulate with a stop loss below 110 levels.
The Pharma index NSE:CNXPHARMA seems to have resumed its uptrend today after consolidating for about a month.
After a pullback from 636 to 566 levels, looks like Aurobindo Pharma NSE:AUROPHARMA is all set to start the next cycle of uptrend.
I can see that the stock has reversed after retracing 61.8% of the previous upmove and formed a Bullish Engulfing candle...
Crude oil TVC:USOIL fell sharply from 75 levels to make a low around 67.
However, this low is higher than the previous one so the rally may not be over yet.
I can see that the price has bounced back after retracing around 61.8% of the previous upmove, forming a Bullish Engulfing candle.
So we might be in for another cycle of an uptrend in Crude.
As long as...
After a huge upmove from 232 to 289 levels, SBI NSE:SBIN entered into a consolidation zone for a month.
However, I can see that it has bounced back strongly after retracing 61.8% of the previous rally and has formed a Bullish Engulfing candle.
Looks like it is all set to begin next phase of rally after retracement.
Good opportunity to go long here with a stop...