Nifty started a new bullish trend during the first day of february which stopped at near 15450 levels
and since then nifty has been following a falling channel pattern and has corrected almost 8%.
Formation of an inverted hammer that too near the breakout point shows significant selling pressure
i believe, if we break the low of this hammer which is 14420...
What market doesn't like is high volume and it hates when it is immediately followed a clear sign of distribution. Its definite that smart money has taken advantage of the parabolic markup and they have started to sell at their favorite auction price. They trap the gullible retail trader at the top and drive the price down to the potential stop loss of the...
I recommend to Buy Morepen Labs as a positional call for medium term. Charts of morepen labs shows that the stock is oversold in the market with unjustified pessimism. It's prime time to get into the morepen labs with targets of rs. 42.00 which can be seen within 12 months from now. It has created a Inverted Hammer Pattern which is a strong bullish reversal...
After the seemingly never ending uptrend, looks like HDFC Bank NSE:HDFCBANK is facing resistance around 2220 levels.
I can see that the stock got rejected at the trendline and also formed an Inverted hammer with Bearish Divergence.
It may come down to 2000-2100 levels.
Good opportunity to short here with a small stop loss.
Disclaimer: Views expressed here...
Looks like we have a bottom in place for Pharma sector NSE:CNXPHARMA after the rally witnessed in Pharma stocks in the past few days.
However, a small correction may be due if it is unable to cross 8650 levels, as it has stopped exactly around 61.8% retracement of the previous downmove and also formed an inverted hammer today.
Tomorrow’s candle would be...
Hi,
Since festive season is over here in North, I might spare some more time to write on TV.
Let's begin with this post on Nifty. In my last post I tried to time the market in anticipation of a correction. Although market reacted for a few days from there, yet I can't call that a correction. Price-Time analysis has once again been hinting at something but this...
Strong Inverted Hammer on daily chart. Descending triangle. May break on either side. Position to be taken based on where to it breaks.
Weekly chart shows clear indications of a downfall.
