NSE:RELIANCE
I believe there is a very high chance that Reliance will break this trendline this time.
Reliance has been following this trend line Since JAN 2021 and till then it has been tested 2 times
April 2021
Sep 2022
and this is the third time
Jan 2023
Demand on trendline has been reduced significantly.
So the Break of the trendline can happen and bears...
The FASP for L&T is listed for 11-1-2023 . You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities.
What is Fibolysis Anchor SupRes Points(FASP)?
It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels...
Namaste!
Yes Bank has been a favourite stock for retail public. Due to it's penny price, it attracts a lot of retail attention.
I think it is a good time to invest in Yes Bank because of following reasons.
1. According to me, any retail person will think of Yes Bank and Idea, if he has given a choice to buy some large-cap stocks. Generally, businesses like...
Namaste!
Muthoot Finance is one of my favourite stocks in the finance sector. The formulae I use to calculate intrinsic value suggests this stock, whereas it somewhat fails in the valuation of Bajaj Finance, SBI Cards, etc.
It is trading at a PE (Price to earnings ratio) of 11.62, whereas Bajaj Finance is 51.29 and SBI Cards is 45.53.
In most cases, the lower PE...
INFOSYS chart indicating bull rally by forming INVERTED HEAD AND SHOULDER pattern. One thing to notice that trend reversed from its Fib retracement golden ration 0.618. Breakout with high volume needed above 1517-1520 to keep trend continue.
TARGET 1677
SL 1405
Namaste!
UPL is a very good pick for investing, from Nifty 50 stocks.
Why?
1. It has an average EPS of Rs 29.50 since the last 6 years.
2. It is from the agriculture chemical sector, which is a good sector to invest in. The sectors I don't recommend are Aviation, Telecom, Etc.
3. It's IV is Rs 1390, if 29.50 EPS and 6.1% (India 10-Year Bond Yield) is considered....
Nifty 50 price is near a very important support trendline and in the 2Hr time frame, we could see a XABCD bullish butterfly pattern.
This XABCD pattern gives 3 targets once the price breaches 17650 and the support trendline. If the price trades below 17650 in the afternoon, we could see a fall.
The RSI can be seen just below 50 and Choppiness Index near 61.8...
In the hourly timeframe, we can clearly see that the downtrend has been changed to an uptrend and is continuing. A correction up to point C (higher low) is seen and then the price is trying to break point B ( breakout level- trying to make a higher high).
If the price sustains above point B, then we can see the price going to the supply zone shown on the chart....
NIFTY IT index is currently at a potential reversal point suggested by the XABCD bullish crab pattern and low RSI value on the daily timeframe.
The bounce may be up to 0.382-0.618 fib zone extension of CD.
This doesn't mean IT would reverse its trend from here. Before the budget, it might test important resistance 36750. This might be just a correction for the...
Nifty is looking bearish for now due to weakness in the market. It can bounce back from one of these supports. Wait for confirmation of reversal before entry. Breaking the previous swing low can cause further correction.
Can be bought Positionally target will be informed as we move ahead. Please take position only after the price ticks above the mentioned levels.
Trade Cautiously. Like & Comment.
Refer some successful ideas attached below.
Nifty has been bearish for a while and has corrected, As nifty looks to have broken out from a short term Correction trend.
If nifty 50 closes above the major resistance of 17650 we can expect bullishness in the market as long as there are no fundamental headwinds.
Supports can be found below as of chart.
WIPRO as per daily chart analysis it has broken the consolidation zone and stock above 677 level for a target 687 level.Do note nifty50 tomorrow will fall initial hours and it should take support either at 16891 or 16791 for it bounce back.
ADANI PORTS posted yesterday above 777 level for a target of 787 and today the stock made a high of 795 level before closing to 767 level. Today Had a intraday trade in the stock. Whatever stock i post i do trade as per my capital allocation and don't post just for the sake of it. Happy weekend and Happy Trading to all.
TATA STEEL as per daily chart analysis is still in consolidation zone and today it has formed pin bar candle and resistance at 1190 level. Stock Above 1192 for a target 1250 level.
