Will IT index bounce after retest support ?Will IT index bounce from the support zone that is seen retested on. weekly charts ? There is a momentum bullish divergence see on RSI
that could cause a medium term reversal after a major correction happening across the IT stocks? potential for mean reversion trade do exit.
However a close watch on what Nasdaq does now is also crucial which currently hanging on sideways momentum & bearish price action.
Momentumdivergence
#Network18 Mahurat Trading Positional mid cap Momentum Breakout'Flag pattern' breakout on daily charts in progress.Also the weekly charts show that a 2011 year started 'Rounding pattern' breakout in progress
Momentum bullish on all timeframes.Bullish reverse divergence in play on daily.weekly The trend indicator ADX showing that the trend strength rising up on weekly timeframe.Volumes on weekly are above moving average and walking on Bollinger bands indicating bullishness
This small cap media stock promotors includes reliance with big bull Rajesh Jhunjanwalla investment too. latest Financials shows debt reduction and current year turning profitability as well. This could be good swing or positional bet with rounding pattern neckline should be stop loss
#hdfcbank could bounce bullish divergence and change in polarity#HDFCBANK after breakout beginning of month it has retraced to resistance zone which could result in
change in polarity bounce in addition it now has bullish momentum reverse divergence as well both on daily
that could take it back to 1598 at least. remember both are not confirmed yet.
however make note that there is resistance up there at 1641 but that has enough points to trail for a swing trade
#havells potential momentum breakout reverse divergence#havells the breakout is yet to happen clearly from the W pattern and is consolidating
since it touched the neckline. But good thing is that there a multiple bullish reverse divergences
seen on the daily timeframe and there is good probability of this working out to make happen the breakout
Havell's remain potential breakout candidate pattern seen. Momentum and adx trend is bullish on all timeframe
#HDFC potential momentum breakout #HDFC daily momentum bullish reverse divergence with a ranges shift bounce in progress.weekly momentum forming range shift from sideways to bullish.monthly also got back into bull zones.formation of a rounding pattern with potential breakout.
#Apollohospitals : Breakout in progress. wait for retracement#ApolloHospital wish had not missed that bullish momentum reverse divergence just before that 21% breakout
which is now history and educational only :)- reminds need do the homework of scanning stocks regularly.
great volume, momentum resulting in a consolidation breakout. Now need wait for a retracement levels
for any entry
Pharms Sector :Nifty pharma : bullish momentum divergenceA hammer on weekly and bullish momentum divergence on daily already work in progress could indicate the previous bearish divergence moves is probably arrested at support zone and is likely to move up.stocks could be picked once momentum reaches above bull zones.
Metal sector at weekly momentum support make or break Metal sector index last week went bearish following a weekly divergence
It now has a unconfirmed bullish reverse divergence on weekly and could take momentum support and bounce
Daily momentum has touched 40 support. In short any bearish further from here is bearish confirmation and reversal.
#nationalaluminium #nalco bullish momentum reverse divergence #nationalaluminium #nalco
4 bar bullish momentum reverse divergence seen on weekly charts that could pull up to 98 levels again.
Daily momentum has taken support and bounced up.it could also turn out as a resistance acting as support
and change in polarity bounce up move is also a possibility. Long entry on confirmation if next week candle staying
above this weeks low as stop loss could work out low risk trade. metal sector is also having enough momentum.
#TATACHEMICALS bullish kicker pro gap
#TATACHEMICALS bullish kicker pro gap with good volumes on daily hit the previous resistance zone.Earlier weekly momentum bullish divergence met target levels and a bearish momentum divergence could be potential concern for being cautiously bullish if it breaks out further .
Reality Sector Index shows bullish reverse divergenceReality Sector Index shows bullish momentum reverse divergence which could mean further upmove.it was consolidating after an earlier breakout from a rounding pattern.All timeframes have bullish momentum and trend. #dlf seems to be breaking out. godrej properties on verge of one.