This is weekly chart of GLENMARK on NSE (INDIA) with CMP @ 665.55. It looks a good opportunity to take a long position in the scrip based on following observations: 1. Support zone has been marked on the chart where price has taken support multiple times in price band of 505-602. Now, the price has come out of this band indicating reversal. 2. It is also observed...
This is weekly chart of BHEL on NSE (INDIA) with CMP @ 69.20. It looks a good shorting opportunity on the basis of following observations: 1. Please refer counter trendline/resistance line drawn on the chart which acts as resistance as shown by arrows. 2. Price retraced to 38.2% level on Fibo as shown on the chart and downtrend again resumed. 3. A symmetrical...
This is weekly chart of MINDTREE (CMP @ 834.60) on NSE (INDIA) which looks good for a long trade based on following observations on the chart: 1. A horizontal line drawn on the chart has acted as resistance during April 2015 to Jan 2018 till price broke out of it on 19th Feb 2018 (marked by arrows). Now, the resistance line has turned into support as indicated on...
This is daily chart of ICICIBANK on NSE (INDIA) with CMP @ 353.10. It looks a good scrip for long trade based on following observations: 1. Price is continuously rising after taking support at around 257 which is marked as MAJOR SUPPORT as price has taken multiple supports near this price. 2. Counter trendline has been drawn on the chart which was decisively...
This is weekly chart of INFOSYS on NSE (INDIA) with CMP @ 663.70. It seems to be an excellent opportunity for a long positional trade based on following observations: 1. A horizonal line on chart acted as stiff resistance during 18th April 2016 to 6th June 2016, has now turned into support as shown on the chart. 2. Support line as mentioned in the preceding...
This is weekly chart of TVS MOTOR (CMP @ 553.45) which looks good for a long trade based on following observations: 1. A trendline has been drawn which has been tested for its reliability many a times as established support as shown on the chart. This established trendline once again was tested on 8th Oct 2018 which also coincides with key retracement level of...
This is weekly chart of WIPRO on NSE (INDIA) quoting/CMP at 318.55. It looks a good long trade with minimum risk based on following observations: 1. Near term resistance and support has been drawn where it is consolidating. It is emphasized that support drawn on the chart is coinciding with 23.6% retracement level and also EMA20. It has tested EMA20 on 22nd Oct...
This is monthly chart of YESBANK on NSE (INDIA) which looks good for an investment. Opinion has been formed based on following observations : 1. A horizontal line has been drawn on the chart which acted as resistance during JAN 2015 to MARCH 2016 which turned into key support during recent fall in prise. Finally, the said resistance was broken in April 2016 and...
BUY TECH MAHINDRA ABOVE 663 FOR TARGETS 671/678/686 SL 650
HCL TECH MIGHT FALL UPTO 946 AND THEN RISE. BUY HCL TECH ABOVE 981 FOR TARGETS 989/996/1001 SL 959
NIFTY TECHNICAL ANALYSIS MAKING BULLISH DIVERGENCES IN DAILY CHART AND STOCHASTIC RSI. SEE IT YOURSELF. THANK YOU! PS :- IF NIFTY FALLS AND TOUCHES 9921 THEN IT MIGHT FALL UPTO NEXT SUPPORT THAT IS 9800 AS PER OPTION CHAIN ANALYSIS)
TREND IS DOWNTREND.
TCS IS CURRENTLY IN DOWNTREND. HOWEVER EXCESSIVE PUT WRITING CAN BE SEEN AT 1800 SUGGESTING BEARISH REVERSAL. BUY TCS ABOVE 1836 FOR TARGETS 1845/1856/1870 SL 1821. HARAMI BULLISH AND HARAMI CROSS IN HOURLY CHART.
Bajaj Finance is showing good volume from last 3 days and has reversed from its low till 38% Fib ratio. Buy above 2321 to 2325 range for 2400, 2450 and above as per Fib levels Immediate SL = 2219 and then as per Fib levels RR is good with second target Lot size = 500 One may try Call Bull spread i.e. Buy 2400 CE and Short 2450 CE with Risk of Rs 8500 and...
BUY BATA INDIA ABOVE 950 FOR TARGETS 960/970/980 SL 926
TRADE ACCORDINGLY
Apollotyre has retraced back to 0.38 % Fib ratio on Monthly chart and shown the support and reversal sign. Buy in the range of 201 to 205 SL = 189 (long term SL) Targets as per Fib levels mentioned (Crude and Nifty to support too) Good for long term to add in your cash portfolio
Bharat Forge still playing with the levels as we published in July,2018 Follow the Fib levels for upside and downside movement as per chart which are self explanatory