Here is my 2 cents on HDFC LIFE as why I am very bullish on the stock
1.Inverse Head and Shoulders pattern on daily and weekly time frame.
2.Decending Triangular pattern on upside, signifying continuation of major trend i.e., uptrend.
3.100 day Moving Average support.
4.3rd time taking support on the trend line.
5.Stock taking support 3rd time at 0.236 Fibonacci...
Volume is steadily rising.
Strong support candle formation at 50 EMA.
Strategic support and resistant is shown by green and pink line.
Options traders can use the areas between Green and Pink line for hedging.
Tata Motors is holding higher levels in daily as well as a one-hour time frame.
Reason to Buy :
1) Healthy retracement at 0.236 fibo levels.
2) Major breakout in the daily time frame.
3) Holding higher levels and forming pole and flag patterns in a one-hour time frame.
4) Retracing back to the previous halt level (Purple-Box).
Safest entry-level at 155.25.
HDFCBank can be shorted with immediate target of 1016.90.
Below this level 1002 looks to the important target below which current uptrend will be completely change.
StopLoss should be used as 1074-1078 above which original trend continues.
Current pull back has been on falling volumes. Although that is typical of any flag structure but this should pull it down...
Good Evening Friends,
Nifty is showing negative divergence on Charts on closing basis. For this little uptrend to be intact we should test 10167 in coming session. If we break below this level we may test 10048.
But should we break below 9929, this will nullify this little uptrend completely and we will head towards 9954.
Tomorrow Gap down is expected and 1st...
Nifty Traded in Ascending Triangle pattern also retrace from 0.61 Fibonacci level which is 10500.
SO now As per Pattern Every Deep For Nifty 50 IS Buy Opportunity.
When 9800 level break and sustain then trend of nifty will be change.
Check out this chart. why nifty reversed today. so many resistances were coinciding at the same spot. first 200ema is an important level.the trendline is also at the same level. also if you plot finonacci levels u will find 61.8% retracement level at the same spot. so many resistances are at the same level. so a strong resistance is at the level. now need to check...
Price as retraced at 38.2% of impulse fall from Nov 19, Touching a trend line, and local resistance area, Also there is RSI divergence on weekly chart.
We can look to sell if price hold below 87 strictly for target of 70-73. But if goes above 87-88 and holds the then we can look for buying opportunities above 90.
1. If breakout of ascending triangle in NSE:ADANIPORTS then upside possible:
Upside Fibbo Level 0.618=295, 0.786=316 (The gap at this level will act as resistance)
2. If breakdown then 0.382=254, 0.5=241