Banknifty has given a doji on the daily time frame and closed above 39000 levels. It has been taking resistance, on hourly charts, from the 20 ema and closed just below the levels. Today, the index has consolidated in a parallel channel and formed a flag and pole pattern. If there is a break down of the pattern, nice fall can be seen in coming days and good...
Nifty on the daily chart has formed a doji and can give some retracement. The market has clearly tested our support level of 16850 and retraced giving a flat closing. On the hourly charts, the market has consolidated in a ascending triangle pattern and closed near the previous day close. It is taking serious resistance from 20 ema and couldn't sustain above the...
After the high of 739.85 the stock corrected almost 50% with strong support at levels around 370-375. Double bottom formation with stock price closing near the 40 weekly moving average. The price crossing the 40 weekly moving average with good volume would be a positive sign. Important levels to watch: 416 which is the neckline with initial targets of 427 and...
Banknifty has given a nice bearish engulfing candle and the global markets are too trending in the negative momentum. Even after a gap up opening the market has closed 360 points lower giving a 1000 points move from day high. On hourly charts, the market has taken a rejection from the 20 ema and from the first candle onwards it came for selling. In last 5...
Nifty has given a bearish engulfing candle and closed below the crucial level of 17k. The market gave a gap up opening but couldn't sustain the higher levels and finally sank to test the support zone around 17000. On the hourly charts, the market has clearly taken resistance from the 20 ema and 38.2% fib levels. There are higher chances of nifty testing the...
HINDUSTAN ZINC near major support and price rejection today at 200EMA daily time frame
DMART trading at good support 3300 to 3400 is good buying level for long term fundamentally strong stok educational purpose only
SUNPHARMA is at major support level and closed below 200EMA on a daily time frame
KOTAK MAHINDRA BANK is at major support and price near 200EMA on weekly time frame closing below 1625 will trigger more fall
Nifty has been trading in a bearish territory and is weaker than the other index. It has formed a doji after touching the round number figure of 17000. It has been forming lower high lower low formation and has consolidated in a narrow range in the second half of the trading session. On the hourly time frame, the market has been trading far below the 20 ema and...
Banknifty on the daily time frame has formed a perfect doji. The markets initially were in confusion but tested the lower levels taking support around 39200 levels. In the second half of the trading session the markets were volatile and consolidated in a 300 points range. On the hourly time frame, the market has closed below both the moving averages and forming...
Market Recap: Nifty declined 1.49% to close at 17154.30 Bank Nifty declined 2.27% to close at 39564.70 India VIX advanced 20.89% to close at 16.22
Banknifty has finally closed below the 200Dma which suggest a move of a bearish market cycle. The market has closed 920 points lower near the support zone. If the market starts trading below 39500, the market can fall another 500 points taking support around the round number figure. On the hourly time frame, a bearish moving averages cross over is there and the...
Nifty has fallen around 400 points from the day high. An bearish engulfing candle has been formed. The moving averages are close enough and will form a bearish moving averages cross over in the coming sessions. On the hourly charts, the market touched the 20 ema and reversed, giving close below the recent low of 17260. The markets are bearish in short to medium...
Correction in ABB is complete. Took support at 200MA which is its regular support area. Also made a higher high. Buy on dips....
Yesterday, I had posted regarding the IVHS pattern of Nifty. Today, market had a big breakaway gap up opening followed by upmove to a strong resistance of 17600. Yesterday, the market had given a bearish closing and looks like this was a short covering which was triggered by strong Rupee vs USD. Today's closing above 17600 would be either a bull trap or a...
NIFTY50 can trade between 17250-17600 on Monday looking negative trading below 200ema educational idea
* Bajaj HLDG approaching 200 EMA (5855.30) on Daily time frame * Monthly RSI above 60 * Daily RSI approaching 40 ( currently at 48) * Trendline support from 6-7 months * Entry on positive candle with confirmation - Looks bearish as of right now but with positive market and positive price action with confirmation on Daily/Hourly time frame would give a good R:R