majescoMajesco:- buy at 900/870 buy on decline target 1100++ sl 770 dcb
#Disclaimer:-I just shared view for only educational purpose.
Macdivergence
tataconsumer _long set upTata consumer has completed 3rd wave and will move upward towrdas 500 level. there is positive divergence on MACD as well as RSI. expected to touch 395
for education purpose only
CIGNITITECCIGNITI TECHNOLOGI:- BUY on dip (with sl 260₹ clbs)
last 2 year range breakout with huge volume..
#Disclaimer:-I just shared view for only educational purpose
MUTHOOTFINMUTHOOTFIN:- BUY ON DIP, 1100 WITH SL OF 1040 CLBS
RSI+MACD+ADX DIVERGENCE WITH OI LONG BUILD UP
#Disclaimer:-I just shared view for only educational purpose.
#LETSTALKABOUTMARKET - NIFTYA top is made and one can enter into a short trade with 9525 sl for target of 9400-9350.
Technical indicators:
RSI - rsi is falling after making a high which showcases that nifty is losing it's steam.
MACD divergence- MACD cross has taken place which supports our theory.
Keep strict sl- 9530.
*It is my opinion and i am not sebi registered*
Comment if you agree or share your idea if you disagree.
#LETSTALKABOUTMARKETS- AUROBINDO PHARMA Auropharma may still gain a bit but it will not be outperforming anymore, adding to that i feel it might under-perform as well. The basis for this are the technical indicators:
1. RSI divergence - RSI divergence is when the price slopes upwards but RSI slopes downwards, forming a negative divergence. As seen in the chart, price is moving upwards whilst RSI is sloping downwards which indicates that the upward price movement will not last for long.
2. MACD - Moving average convergence divergence as it is called, has also showed a crossover which further confirms the weakness in the stock price movement.
3. Bollinger Bands - BB also seem to be squeezing out which shows low volatility. One can wait out to see the price movement, where the Bollinger Band seems to be expanding.
The upward price movement might fade out soon and might even move sideways before cracking down. One can take a position by keeping a stoploss around 715 and wait for the target of 600 and an extended target of 560.
*This is my opinion and i am not registered with sebi*
PARALLEL CHANEL BREAKOUT PROBABLE ON #GRASIMTRADE ABOVE 520 FOR TARGET 545 KEEPING STOP-LOSS 505.
MACD divergence is noticed near crucial resistant area on Parallel Chanel .
DAX GER SHort Head and Shoulder Set up! Big oportunity Keep the eyes open for MACD divergence as previous head and left shoulder signal. Once we have a decent bearish candle on the resistance level of the previous shoulder we go short €€€
RSI being heavily oversold the stock may pullbackThe stock 1101 during the day pulling back to close at 1134. Comparing close to close the stock corrected 1.43% compared to Bank Nifty overall. Now the stock is at a support. RSI being heavily oversold the stock may pullback from the current levels to 1160 – 1180 levels, however failing to cross them or creating bear candles at the levels may result into further selling. If selling beings again then the stock may find support at 1095, 1050 levels below which the target is deep towards 890 zones.
UPDATE BRITANNIAPrice went down even after a gap up today. (as opposed to what was expected)
But the price has respected the previous resistance line and the 20 ema.
In addition, lower lows has formed in chart BUT higher lows has formed in macd - signs of a weaking downtrend.
BUY it if you haven't already
DLF ShortDLF Short 4 hourly Chart
1. Double Top pattern
2. Dark Cloud Cover Pattern
3. Negative MACD Divergence
4. Very Short Stoploss.
Levels of 560 – 545 may provide support to the stock and it moveThe stock registered a breakout this week and have managed a close above the clouds. The RSI has moved into the bullish zones with MACD above zero. The stock has become a long candidate an pullbacks. Levels of 560 – 545 may provide support to the stock and it may move up to 580, 590 & 620 levels. If the stock fails to hold itself at 545 levels then it may further correct down to 535 & 510 levels.
CNX SMALL CAPS displaying strength, capable of 10% move here!CNX Small Cap Index registered a decent close above all major pivots. Also RSI is now displaying bullish momentum with MACD comfortable into bullish zone. Small Caps stocks are expected to outperform the overall Nifty index in the coming quarter.
Bajaj Auto enjoying a momentum time out.The stock is taking its time out at the 60 levels on RSI. After a unstoppable rally from August it has moved sideways and have consolidated. As of now he prices are resting on KS/TS support line, if a breakout is not registered within a session or two then some serious momentum loss may be grip up thereby pushing the stock into some sharp corrections.
HUL retraced from an importan resistance zone. Fall to continue?HINDUSTAN UNILEVER LIMITED: The stock had a fabulous run in the last few months. In the last few weeks, the stock displayed a loss of momentum and correction occurred. Now the stock took a hit at an important pivot and corrected. The stock has minor support at 1995 – 2000 levels below which there may be a further correction to 1920 levels. However, a move above 2100 will negate the corrective view and the stock may continue the trend up.
Canbank has approached an important zone! Watch HereCANBANK: Recent rally in public sectors banks have been good and strong. Almost every public sector bank rallied more than 20% from their recent lows. Canbank is now hovering at a resistance point. There is a strong supply area ahead, if the stock fumbles here, there may be a small correction which may rest close to 208 -205 levels, if a breakout is successful then it can scale to 275 levels in coming months. The overall trend & sentiment is positive and healthy. RSI and MACD has not displayed any signs of weakness.
Britannia Industries: Took support and bounced, will it continueBRITANNIA INDUSTRIES: The stock is hovering around a very strong support zone. The RSI bouncing off from 40’s further indicate the momentum support in the stock. MACD is neutral and picking up (though not positive yet). A minor bottle neck is placed at 3130 – 3145 levels, above which 3280 &3360 may be evident.
Further Selling may lead to deep correctionsThe stock witnessed sell off during the last session. The prices have closed below the kumo making a big black candle, indicating weakness. The momentum has lost strength RSI is not at all excited to move up plus macd has fallen below zero. There is a minor support at 550 levels, failing that support the stock may fumble and fall down to 460 – 415 levels.
Bank of India _ PSU banking index set up move up? Momentum signaBANK OF INDIA: Banking stock specially PSU banks have kept up bank nifty. All PSU banks are strongly poised to move up. The prices have moved up from the daily TS, as of now the prices are inside the kumo, once a breakout is registered the Bank of India is expected to reach 83 levels, the next level of resistance. Till the prices are above 63 the analysis stands true.
NIFTY CLOSED LOWER FOR THE WEEK? What does this indicate?NIFTY: Nifty made a lower close this week. The narrow range bar indicative of weak momentum in the index (however it doesn’t signal outright shorts) but longs positions should be tighten at this juncture. Correction may initiate below 11800, which may extend to 11400 – 11300 levels, at this point we can notice institutional support coming up. The RSI is above 60 which indicates the overall trend is up. Counter trend trading strategy may be considered keeping in mind the support levels on 11400 – 11300.
Bank Nifty made a sensible close by supporting the trend line.BANK NIFTY: Banknifty made a sensible close than the Nifty, the price action supported the breakout trend line and bounced. Also a TS line acted as a good support level. The RSI bounced from the 60 levels, that too is a signature of strength. The lower time frames have to buck up now, the hourly timeframe’s RSI is still wagging between 60-40 levels. 30200 levels on closing basis is important, as long as bank nifty stays above it, the trend in short term shall be positive.
