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NEVER TRY TO GO AGAINST TREND FORCIBLY INDUSIND HAS BEEN PERFORMING WELL AS COMPARED TO THE WORST HIT STOCK DURING COVID RAIN , BULLISH DAILY BODIES FORMATION BACK TO BACK + RSI CONSISTENTLY ABOVE 60 & 80, BUT THIS SHOULD NOT TEMPT WE TRADERS TO THINK THAT NOW IS THERE POSSIBILITY FOR A U- TURN OR A PROFIT BOOKING DAYS --------------------I WOULD SAY MIGHT NOT BE AS OF NOW LOOKING AT THE LONG BUILD UP AND SHORT COVERING HAPPENING IN TODAY'S DATA = FRESH + CHANGE IN OI IN PUTS SIDE AND NEGATIVE CHANGE IN CALLS SIDE + GUD DIFFERENCE IN TOTAL CALL:PUT SIDE - FAVORING BUY SIDE STILL .... LOOKING AT OI DATA - IT WOULD BE BURNING HANDS TO TAKE A SHORT TRADE -------------- IT SEEMS LIKE PUTTING RETRACEMENT THEORY ON CHARTS STILL 2 LEVELS TO BE ACHIEVED BEFORE WE SEE A FALL IN SCRIPT UNLESS SOME HUGE DATA CHANGE HAPPENS IN OPEN INTEREST CHAIN PLATFORM...... disclaimer - do your own study before investing.
NSE:INDUSINDBKLong
by sankhyainvestments
8
A zoomed out perspective of NIFTY After the recent rally and very close to making all time highs ( NIFTY is already at a all time high on closing basis — it's just the first week of the month). The index might face some resistance at current levels, which is a confluence of the Bear Resistance zone on the RSI and the declining bearish divergence trendline. If aggressive buyers manage to surpass this confluence, then price may shoot up aggressively. If sellers dominate at these levels along with some profit booking the price may retrace. As this is a long term chart a retracement on monthly would look like a bearish market on daily charts. This would be an interesting month for Indian markets.
NSE:NIFTY
by santosh_dts
A possible long entry on Bhart Airtel?Bharti Airtel is at a crucial resistance between 420 and 425 which it has rejected three times on the weekly chart. A possible double bottom could be forming which coincides with declining negative price momentum and the presence of an up trendline making this an area where the stock should find some substantial support. The RSI and MACD when analysed on the daily time frame shows us some positive signs with the stock having rejected 30 on the RSI and the MACD histogram slowing upwards. A position could be initiated now with a strict stop loss below the 420 zone with the two resistances providing opportunities to take profits. For additional confirmation wait for a positive candlestick pattern to form to confirm the reversal. Please let me know your thoughts on this. Happy to discuss.
NSE:BHARTIARTLLong
by deveshlenka
1
Abbott India - Fibonacci ReversalNSE:ABBOTINDIA has retraced 61.8% of its rally. The stock gave a #Doji reversal confirmation 2 sessions back and moved to confirm the reversal of the downtrend. Currently the stock has moved up to its resistance level and and same can be seen from falling bullish volume. Tomorrow will be important to watch to see if it breaks the resistance or not? We expect the stock to move a little lower (retrace about 50% of the current reversal move) and then increase to move towards 18000 levels. (As shown by arrows). There’s however more upside according to RSI and Relative Strength Analysis.
NSE:ABBOTINDIALong
by impact_money