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NIFTY Cyclical Movement19 OCTOBER'21 - 18 JANUARY'22 The NIFTY index reached level 18,600 (approximately) in October'21 and retraced close to 11% in 62 days from point A to point B (refer to chart) in 62 days. At this point, a support trendline was extended from "1" to "B" after the market gained bullish momentum. NIFTY regained it's 18,000 mark and reached level 18,350 (point C) in 29 days. This ends CYCLE 1 in the analysis. 18 JANUARY'22 - 4 APRIL'22 Retraced 14.64% from C to point D in 48 days, a faster downfall at a shorter a period of time. But, NIFTY has been keeping constant in its uptrend by taking approximately a month to regain its past high, 27 days from D to E while rising 4% (approximately) more than it did before. 4 APRIL'22 - 16 JUNE'22 From E to F (13%) in 39 days which coincides the hypothesis that their exists a pattern in the way the market is falling and rising with the days of retracement becoming shorter and on the buy side, the time frame remaining same. Keeping this in perspective, NIFTY can reach 18,140 (approximately) till 16 June with a buffer of note more than 1 week. Once it reaches 18,140, I am expecting 4% further upside close to 18,800. The market seems bullish-biased since the ability of the market to recover faster from the fall is evident.
NSE:NIFTY
by Anurag16
4
BHEL LONG Term ProspectWelcome to the update for BHEL for long-term holding. It was in a downtrend for a long time. It finally broke the trend and is ready for another leg up. It retested successfully and is currently trading around Rs 54.90. It can show a potential rally of around 42% from here as it looks good both technically and fundamentally. The expected entry range should be between Rs 52 to Rs 56. The target is expected to reach around Rs 77+ within a few days. This is not financial advice, please do your own research before investing and we are not responsible for any of your losses or profits.
NSE:BHELLong
by ScramblerG
(IRFC) NSE STOCK ANALYSIS 17/03/2022This is an update of our past analysis which is linekd bellow. Technical analysis: There exist a double bottom candle pattern formation on the daily chart which is the sign of trend reversal and bullish trend start Fundamental analysis: The stock seems to be undervalued as it is very close to its pegged values. It is a semi-government company which means, if the price falles bellow the pegged price then there are chances of merger arbitrage and liquidation of the entire company. Such an event is very very rare as this company is responsible for the Indian railway financial contacts and beaurocraces and at the event of its liquidation government may step in and prevent its happening so it seems to be a very safe buy for us. We should keep in mind that this script may move slowly and the value appreciation may take some longer time as compared to other low liquid and higher volatile stocks. There are total of 3 Targets as previously defined Market may follow to the targets with some trend corrections.
NSE:IRFCLong
by BitonGroup
Bullish view on TECHM (Tech Mahindra)TECHM's daily chart suggests that it has taken support at the same level as it has in the previous few days. Moreover, it has broken out of an upward channel and is testing it today with a gap down. Moreover, a look at the 14 day RSI suggests a bullish divergence taking place in the charts. If the price holds the upward channel and bounces off it, the price could go towards the next resistance zone at 1540 and further move to the 1680 levels.
NSE:TECHMLong
by keshav_123