Date : 6th June 2024 Time : 10.27 AM Why I am Bullish on Wipro ? 1. Wipro has Formed Cup & Handle Chart Pattern on Monthly TF and successfully retested on neckline too as we can see on Chart. 2. Current Fibonacci level is 0.5 to 0.618 known as Golden Reversal Zone. 3. Nifty IT is Also Showing Bullish Trait like Bullish Divergence. After all this Entry ...
Wipro had a strong resistance of 450 which broke and is now acting as a support. Since Nifty IT is looking bullish, we can expect a reversal in this stock. An amazing investment stock available at a very good price.
A sectoral analysis after quite long time. I had previously covered Nifty Pharma & Nifty Energy which have outperformed Nifty. However, Nifty IT has largely underperformed in the last 2 years as compared to broader indices mostly because of recession in western countries. The sector is in consolidation since last 3 years and all the investors of large cap IT...
Multi year chart. taken multiple times support. Is it time to come out from consolidation and entering new uptrend? Coming 1-2 months will be decisive. Keep a closer watch on IT index and IT stocks
IT index has been consolidating since 3 yrs. This time it seems like come out from this consolidation. Keep a closer watch
Topic - Nifty- IT or CNXIT Neutral Levels and Zone Tomorrow's movement Prediction of Nifty It NIFTY_IT appears to be in downtrend. But this trend seems to be weakening. Price is below an important level of 33337.8 on charts, and if price remains below this level, then stock might show a fall in short term. Tomorrow's movement Prediction of Nifty It NIFTY_IT...
Now we have a strong breakdown of the compression zone. The structure indicates the start of a downtrend. The price could test the levels of 30,054 (Strong Support) which is 5-to-6% from the current level. On the up side the level of 35,188 will act as a strong resistance. Disclaimer : This is my pre market analysis and my trading journal. Not a suggestion to...
Good morning, friends! 🌺🍬 Here are the directions for May 30th: The global market continues to show a bearish sentiment based on the Dow Jones, while our local market also shows a bearish trend. Today, the market may open with a slight gap-down, as indicated by GiftNifty, which shows a decrease of 70 points. But, I'm not sure if this is due to global issues or...
Symbol - INFY INFOSYS is currently trading at 1445. 1450-1400 is a good support area for INFY. I'm seeing a trading opportunity on buy side. Buying INFY Futures at CMP 1445. I will be adding more if 1425 comes & hold with 1395 SL. Targets I'm expecting are 1495 - 1570 & beyond. Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing...
Symbol - HCLTECH HCL Tech is currently trading at 1360 1300 - 1360 is a good support area for HCL Technologies Ltd. I'm seeing a trading opportunity on buy side. Buying HCL Tech Futures at CMP 1360 I will be adding more if 1330 comes & hold with SL of 1295 Targets I'm expecting are 1440 - 1485 & beyond. Disclaimer - Do not consider this as a buy/sell...
Symbol - BSOFT Birlasoft is engaged in Computer programming, consultancy, and related activities. It provides software development and IT consulting to its customers predominantly in Banking, Financial Services, and Insurance, Life Sciences and Services, Energy Resources and Utilities, and Manufacturing. The Company’s registered office is in Pune. It is part of...
BankNifty Analysis - Stance Bearish⬇️ BN was unable to defend the 48115 support resistance today and it was an advantage Bears. The overall price action was neutral and that might be related to the expiry trades. There were a couple of instances where BN moved 100+ pts in minutes - this really had an impact on the algo trades, but happy that major damage was not...
Nifty Analysis - Stance Bearish⬇️ Recap from yesterday: "Also in the 63mts TF we did not really break it, if you are a conservative trader, it is a good idea to wait for one full candle to form below 22295." Today the entire action was around the 22295 levels. The open was a gap down and N50 spent time till 11.47 underwater. The 22295 level was broken by 12.07 and...
Nifty Analysis - Stance Neutral ➡️ Recap from yesterday: "The stance has been revised to neutral as the support is broken. For Monday we wish to go neutral if 22295 is broken and go long if 22519. Nifty Algos ended the day with a loss of -2374 INR." How do we explain the relevance of support and resistance more clearly than today? Just see the 3 encircled regions...
This perspective is for mid and long term. Share the link as much as you can so everyone can benefit. :)
Nifty Analysis - Stance Bullish⬆️ Recap from yesterday: "The 63mts TF paints another picture, a perfect triple top at the 22780 levels. A double top between 9th and 10th April and the third top today on 30th April." Nifty opened quite strongly, immediately recouping some of the lost ground in the last session. After cutting almost 50% of the losses, N50 found a...
Good morning, friends! Here are the directions for May 2nd: The global market is still maintaining a moderately bearish trend, supported by the Dow Jones, while our local market sentiment also indicates a moderately bearish trend. It might open with a neutral to slightly gap-up start, as suggested by GiftNifty, showing an increase of +30. structurally there is...
BankNifty Analysis - Stance Bullish⬆️ We were quite sure BN would be bullish today but honestly did not think we would gain 1223 points ~ 2.54% in total. ICICI Bank had good quarterly results, but the outperformance was unexpected, that really fuelled the rally today. Can you believe, BN overshadowed NiftyIT, reclaimed the torchbearer status, and then hit a new...