After consolidating in cloud Nifty break down below cloud low at 10488 . There was attempt by Bulls to pull Nifty up which resulted in small bullish cloud formation . However bulls attempt failed and Nifty broke cloud low of 10488 .
Now going forward cloud low may act as resistance around 10510.
Downside Nifty spot may slide till previous low .
I think NZDUSD is very interesting. Here's what we saw in the webinar we had this evening.
The pair has a beautiful Head&Shoulders (at least following my trading strategy),which, at the moment, gives us a double possibility:
1. The Neckline breakout;
2. A rebound on the Neckline.
If number 1 occurs, I will wait a rebound on it, where I should insert a limit...
Hindalco has been struggling to Break out of the Range since months on Daily TF, but this time theirs high probablity of breaking out of the range looking at the maturity of the pattern on Daily TF.
The Channel as well as The Ichimoku Cloud has been broken out on 15 min TF. After the open on Monday, Hindalco may test the 200-201 level which is a strong area to...
This stock has been consolidating in a right range and the IT stocks have been relative out-performers off-late. A breakout above the cloud would be a positive development and could help the stock seek next resistance at 570-580 range.
This one is in my watchlist.
The stock has bounced off monthly support. Have a look at the 15-minute chart here. A breakout past the cloud would be a bullish sign and would strengthen the case for a rally to 700+
Support comes in at 650