Finance
SRTRANSFINWe see SRT forming a triangle pattern on daily chart, down move was expected to retest the bottom of the triangle and today as the nifty and bank nifty fell, it too gapped down and after retesting the bottom, it is forming a hammer type of pattern, if the final daily candle maintains hammer pattern or any bullish candle, then it might continue its journey upwards from here, Lets see... Market is supreme...
BANKNIFTY ANALYSISYesterday was a consolidation type of market, where the the buyers were unable to take out the previous highs. I had a bearish view, but the bears failed to get a follow through below 22,850 and the market moved towards the upper end of the range. This happened twice through the day yesterday and both the times the market moved above 23,100.
These are highly bullish sings and we may see BankNifty making fresh highs today and move towards 23,200 - 23,400.
Buy on dips is the strategy to utilize in this bull market.
CHOLAFIN ELLIOTE WAVE SETUP !Hello! Friends,
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As you see in the chart the impulsive wave ( 1,2,3,4,5 ) completed and price shifted toward corrective wave A, B and C
The cholaFin consolidate between same area from few days and last day its gives a fake breakout.
stocks looks bearish toward 200-190 Sl 225
If you are doing option trading then you can Hedge your position by selling
-1x 27AUG2020 205CE - ₹ 21.4
-1x 27AUG2020 190PE - ₹ 8.9
Thanks
ujjivan chart analysis230 is working as strong support for ujjivan and today it nicely recovered . below 230 we can see levels @220 .
and 240 as good resistence so we can expect good run above 240 once when it sustain above 240 and then 250.
for just folllow the trend of the market.
note : for educational purposes.
Long on BAJF A Flag pattern has been observed in Bajaj Finance. The stock is in very bullish trend and will continue to do so because of strong fundamentals.
On the other hand all the technical indicators suggest a long position. Long above 3350.
Target 1: 3419
Target 2: 3500
Stop Loss: 3300
Something to pay attention: Results round the corner. A positive result will send stock to 4000 before next quarter. Negative however will keep the stock sideways.
Shriram Transport The stock has been on a steady decline. I am expecting it to decline towards 500 and find support. This presents a good shorting opportunity with the marked support as the target price. With a StopLoss at 565.
A good buy call can be initiated in Muthoot capitalThis stock is in good consolidation period from last 2 months .Now as we can see there is a big support for this stock @260 levels and a breakout is expected above 300.50 for 1st target of 320 nd second target of 346...Best part is stock is taking perfect support @ trendline...
Hope you like the analysis...Ask your questions in comments