Disclaimer - Risk cannot be separated from reward, unlike humans they are loyal to each other.
Tech Mahindra has made a bearish engulfing pattern today on daily charts with volume confirmation (volume on the engulfing candle was higher than previous candle and average volume), the pattern is at a channel resistance. This can be shorted with SL 648.25 and target 551
The stock made bearish engulfing pattern from the 0.786 levels and seems bearish to retrace to the stronger 0.618 level of 265.
Choose an entry position based on your risk appetite.
Strategy 1: 'High-er' Risk & High RRR
In-case of normal or gap-up opening, Short for 270, 267, & 265 with SL at 278.
(Can wait for any small uptrend with the risk of losing out on...
Double Top formation is Seen in ITC.
Closed with a Bearish Engulfing pattern.
According to me ITC will go Down today.
Short ITC, might be the best trade option for today.
It's just my personal analysis so do your own and I don't recommend anybody to Short It as it is just my analysis.
Nifty has completed the Diametric Pattern as per NeoWave analysis.
Nifty has also completed retracement of 61.8% of the entire fall which started on Jan 20, 2020.
The daily chart shows a reversal warning with an Engulfing Bearish Pattern.
Any fall below 10000 will show very strong bearish moves in Nifty.
Thus B wave of the correction seems complete ...
After announcing Q4 result SBI jumps up to 5% and 8% with in a day.
Net profit jumps to Rs 3,580.8 crore in the January-March quarter compared to Rs 838.4 crore.
(Net profit includes a one-time benefit of Rs 2,731 crore from sale of stake in SBI Cards & Payment Systems.)
SBI’s asset quality improved over this quarter(Q4).