After a rise from the lows of 277 till 306, looks like Hindustan ZincNSE:HINDZINC has completed the countertrend move and is on its way down again.
With Metal Index looking weak, I can see that the stock price got rejected after retracing 50% of the previous downmove, forming a Bearish Engulfing candle in the process.
Good opportunity to short here with a...
Natco Pharma has tested the support level of 790-800 and now managed to break resistance of 830
Close above 832 will take it to 850 and 900 levels quickly
Overall Pharma sector is looking very bullish that would also support the idea
Please follow the Fib levels for Support & Resistance and trade accordingly
Yes Bank - analysis of probable ranges valid for at least 4-5 days.
Apologies for the rather cluttered chart but it has a lot of information if you have the patience to study it.
Also refer to my earlier chart:
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...
After the massive fall from 1108 levels, HCL Technologies NSE:HCLTECH managed to pull back to 934 levels but faced a stiff resistance in the 934-944 zone.
I can see that the price faced strong rejection at 38.2% retracement of the previous downmove forming a large bearish engulfing candle.
Good opportunity to short here for a target around 880...