After making a high around 11080 levels on Thursday, Nifty NSE:NIFTY witnessed heavy selling pressure and could not hold on to 11000 levels.
I can see an Evening Star like formation here with a large Bearish candle.
Sold 11100 calls in the morning as soon as it broke 11000.
There are multiple supports around 10900 and 10700 levels.
However, I think call ...
After a good recovery from the lows of 822 to 900, seems like the downtrend in Escorts NSE:ESCORTS may not be over yet.
The Auto index NSE:CNXAUTO appeared extremely Bearish today forming an Evening Star pattern.
I can see that Escorts has formed an Evening Star like pattern as well and has reversed in the 50%-61.8% retracement zone of the previous ...
With both Nifty NSE:NIFTY and Nifty IT NSE:CNXIT indices looking weak, more pain seems to be on the way in certain stocks.
Many IT stocks appear to have formed an intermediate top today.
I can see that Mindtree NSE:MINDTREE has formed an Evening Star pattern with a large Bearish candle today.
Good opportunity to go short with a small stop loss for a first ...
As mentioned in a previous idea on Nifty IT, the index appears to have topped out around 14300 levels and is slowly moving towards 13450.
I think many IT stocks like TCS NSE:TCS have also formed an intermediary top, looking at the large Bearish Candle and classic Evening Star reversal pattern that it formed today.
Good opportunity to go short at these levels ...
ICICI Bank NSE:ICICIBANK appeared very weak today, with the stock forming a large Bearish candle showing strong price rejection in the 300-302 zone.
I can see that the stock has formed an Evening Star pattern today.
Also, RSI has been increasing whereas the stock formed a Double Top, indicating hidden bearish divergence.
I think the stock is heading back to the ...
With Pharma sector looking to take a break after a superfast rally, many pharma stocks have shown signs of a pullback.
After struggling in the 1040-1075 zone for a few days, Apollo Hospitals NSE:APOLLOHOSP formed a large Bearish candle today.
I can see that the price has formed an Evening Star pattern and got rejected at 61.8% of the previous downmove.
Pharma sector has been on a roll for some weeks now and it may be time that the sector cools off a little before commencing the next leg of rally.
After a big upmove from 436 to 579, I think Sun Pharma NSE:SUNPHARMA may have entered into correction mode, looking at the large Bearish candle and Evening Star pattern that it formed today.
Good opportunity to short ...
After the corrective move around end of April, the final leg of correction seems to have commenced in Nifty IT NSE:CNXIT.
IT stocks including large caps like TCS and Infosys witnessed heavy selling pressure today.
Looks to me that the selloff will continue and is the start of a corrective move in IT index before a fresh uptrend begins.
I can see that IT index ...
Maruti Suzuki NSE:MARUTI witnessed stiff resistance around 9100 levels today and closed even below 9000.
I can see that the stock was pushed down after retracing 76.4% of the previous downmove and has also formed an Evening Star pattern.
Good opportunity to short here with a small stop loss for a target in the 8500-8600 zone.
Disclaimer: Views expressed here ...
Media sector in general is looking weak and Zee Entertainment Ltd. NSE:ZEEL formed a large Bearish candle today.
I can see that the price got rejected after retracing 50% of the previous downmove, and has also formed an Evening Star pattern.
Good opportunity to short here for a target around 534 levels.
Disclaimer: Views expressed here are my own, and should ...
Sell your positions or book loss, this is evening star formation and we can expect some correction now because
27 Feb - long green candle
28 Feb - spinning top (indecision)
29 Feb - red candle and closed below half of the green candle
Stochastic K line (green) crossed below D line (red)
RSI turned direction
Hatrick!!! – Watch Earlier Connecting Videos mentioned in the post.
Good Morning Fellow Traders!
Wishing all of you a happy, prosperous & peaceful 2018 – Do take care of volatility which will be part & parcel of this year- Learn more about stop losses – It is always better to cut your losing trades & carry your winning ones.
Yes, you heard it right- FBO not FBI ...
Check the video for exciting journey from 690 to 670-665 & below 665 to 650 - Boom again to 670-677-687. Check the current status for target below 689 - 681-677-670. Should sustain below 689 as any move above 697-698 -setup invalidates.
Auropharma 1st Video - Selling the Tops below 689 -690 for 670-665-650 ...