The 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...
Price 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 Short 4 hourly Chart 1. Double Top pattern 2. Dark Cloud Cover Pattern 3. Negative MACD Divergence 4. Very Short Stoploss.
The 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...
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.
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.
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...
CANBANK: 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...
BRITANNIA 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.
The 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: 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: 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...
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...
HEROMOTOCORP: The stock has been into tight sideways consolidation since few week. The whole auto sector picked up, leaving behind hero motocorp. In todays session the price broke away from the kumo. Even on the weekly charts the price is below the kumo. RSI is into 60 – 40 zones, displaying no signs of strength as of now. To establish strength Heromotorcop needs...
This may go down in this bearish scenario ...may follow
NSE:BANKBARODA is facing Resistance at 118-119 level . Hourly charts showing Divergence with RSI & MACD . We can expect a correction to the Weekly Support Line at 108-110 . From there the Stock will see an upward journey .
EURUSD SHORT NOT COMPLETED YET? EURO has been in a strong downtrend since FEB,18. Apparently it might be in making of 5 wave structure. If that's the case then 4 waves are completed and now heading down again for 5th wave. 5th wave of the daily structure is in also making of 5 wave but in that case 4th wave might completed now and now on it is going to complete...