Though nify price is rotating in a tight range, yet any resistance from above can play an important role for the seller.
Last Friday, I suggest buying BANK NIFTY PUT of strike price 29500, 39-43 for target...
I suggest sell NIFTY above the value high and buy below value below. As per this statement, green drew "control price" will be a target for a seller and...
Here is my analysis for coming week.
I would suggest be careful on coming Monday as only 3 days of trading this week, Market would be more volatile this Monday.
- If market open gap up, be careful and trade only if it creates a candle (after confirmation) above 30400 to R1 (shown in chart)
- If market opens gap down, it could easily go down 70-100 points or...
After a constant bullish movement, smart money has been digested into this stock.
The resistance is now acting as support and will be a good bet for 1-2 months horizon.
Short term target of 525 and long term target of 580-600 with a quick Stoploss of recent low of 465.
ALERT Significant Increased holding by Mohnish Pabrai Investments.
Yellow one suggests we are in a bigger flat correction
in the form of wave 4. In this case, first, a fall towards
32300 can be expected, before another upmove begins
Green count suggests, wave 4 completd near 33300
and we are in 5th wave upwards of the current impulse
Target in this case will be 40300 followed by 41000
(downside limited till 36500)
Rupee looks strong on the weekly chart, but it seems like it might consolidate in 68.5-70 Range for 1-2 months then it might go for the big move.
It will depend on the price action in the areas I have plotted. Most probably it might go down(Because RSI Seems week for USD) because of the structure but still can't say exactly.
This is not financial...
The stock can take support at the Kumo Cloud and the parallel channel can also help as support. Keep the stoploss below the Kumo Cloud and the target price would be the middle line of the parallel channel.