This is strictly short term.
The price action is oversold as seen in hourly RSI and the price is touching 200 MA at the moment.
It's reasonable to expect a bounce back to 24500 levels in next session or two. But once again, this is very short term.
Reliance has been a true star that practically carried Nifty for some time.
Now it's time for a breather. The rally looks tired.
Notice the indecisive price action at 1600 level (encircled).
Also there is divergence in the stochastics as seen in CCI.
Should be a low risk trade to go short with a stop above 1620 and target of 1505 (just before 1500 to be safe)
BANKNIFTY has been a great star over past few weeks.
While the trend looks like it is going to continue forever, the price is at significant resistance channel at the moment.
This is probably a good time to book profits on the index FNO trades. Today being expiry means basically not rolling over positions.
This is not an outright sell yet except may be some high...
First of all i don't know weather this pattern is true or not but i have seen good results in many charts so i am sharing it over hear.
This is continues H&S pattern which shows that the prices will continue to follow its trend. For example IF prices have move from Level A TO B and forms a Reverse H&S Pattern at top of the trend and if it gives a breakout from...
We have seen that the basic formation of Trend Analysis is Higher Top Higher Bottom formation & Lower Top Lower Bottom formation. Prices have recently corrected from his recent highs and it was shoot up yesterday with GOOD Volumes. If we judge it as Higher Top Higher Bottom formation we can see that Prices can make new highs above 337 or levels. If prices breaks...
Eclerx services...want to exit from continues bearish trend.... on daily chart we can see inverse HNS PATTERN + macd divergence + trendline breakout..with good volumes... and macd + adx supportive go long for 1480-1520 cmp 1367...
I drew this triangle a few days ago and the price actions has been obediently following the pattern.
The price should eventually break on the downside if all goes well. 156 at least is very good short term target even if the triangle bottom is not taken out.
This is a continuation pattern so a good probability of downtrend continuation. COALINDIA is similar stock.
JPASSOCIAT has been doing terrific lately. From the looks of it, it is just getting started!
This stock has been in a sustained downtrend followed by a long consolidation. It is finally looking to break out on the upside by a big margin.
The short term target is 24 at least. Medium term 40. Long 50 at least.
We may want to look for a slight correction only because...
ONGC specifically has retraced 61.8% of the rally.
Considering the energy sector rallied on Friday in US session, this is likely to bump up on Monday and likely to follow through over next couple of sessions.
165 is the short term target. Leveraged trade for adventurous ones as this is expiry week.
Purely a short term play though. Not buy and hold by any means.
TATAPOWER -1.51% has been trending in a nice channel.
82 seems to be a good level to go short for a target of 80.
This is also the expiry week so the next four days present a lot of opportunities. This definitely seems a good one for a leveraged trade.
Also, the general sentiment is turning negative or at least neutral for highly positive. That adds to the...