MIND TREE IN YOUR MIND -ALL TIME HIGH BREAKOUT -RETESTING1. Beauty of resistances and price action analysis.
2. Once it breaks out 1610 , it can go like rocket and keep a profit of 2% in your swing trade analysis
3. Keep stop loss as 1596 rs and exit if it breaks without any emotions.
Niftyit
Breakout in HCL TECH*Flat Base formation & previous resistance breakout in HCLTECH.
*ALL target & support level mentioned in the chart.
HINDALCO VAN BREAKOUT !!! 1) Wait for breakout and retest for accurate entry
2) If gap-up confidently take long
3) If resistance is strong , no trade .
4) 2 targets ate given , safe book at 1st target , trial to 2nd target if you’re an active trader .
WIPRO Long Idea Wipro Took channel support and gave resistance breakout
It looks good above 355 levels (Green Line)
View Negates below 347 levels if gave candle closing below channel support
HCLTECH Long idea for Intraday (Monday) HCLTECH gave Trendline breakout and gave closing above it. Crossing 860 level will be good upside move towards 870 levels
keep this in watchlist
TECHM Long idea for Intraday (Monday) TECHM gave Trendline BO (Red color) if this going to Break resistance that 857.50 then will be good upside move towards (768-770)
TECHM short idea for intraday TECHM gave channel breakdown and also pattern looks like double top
Price is near neckline breakdown
Weak below 798 level
HCL TECH LONGHCL TECH is in PBZ. A green candle is being formed today bouncing from an important zone. If today's' candle is sustained, one can enter long according to the WWL setup. Target should be according to STM method and SL can be below today's candle low.
#LETSTALKABOUTMARKETS - Tech MahindraTech Mahindra seems exhausted now and is not participating in the Amazing IT rally that we have seen. It can be considered the weak link in the It index even though it has given a wonderful return. Technically TechM has closed with a graveyard candlestick which indicates a reversal in the uptrend. One can enter into a short position around 870-875 with a strict SL of 910 and for a target of 800. It also has a negative RSI divergence as marked in the charts.
Do like and comment your views. This is my personal opinion and purely for educational purposes.
NIFTY IT INDEX POSITIONAL VIEW BUY ON DIPSNIFTY IT LONG TERM VIEW, GOOD TO BUY ON DIPS
Click i button on Tradingview profile for connecting with me
NIFTY forms divergence! couldn't cross resistance zone Nifty - Technical Analysis:
-Nifty ended 88 points, or 0.76 percent, down at 11,516.10.
-Technology is the only saving grace and the only sector in green but that too has come off. Key victims today are metals and auto.
-Divergence in RSI was observed as NIFTY was unable to cross the resistance zone. We can see selling pressure below 11470
Market - Driving Factors:
-Today we saw IT and pharma bucking the weak trend as smart buying was seen across several counters in both the sectors. HNI accumulation was witnessed across cyclicals in todays trade.
-Happiest mind more than doubled in its stock market debut, underscoring strong investor interest in IT services firms during the COVID-19 with it's IPO debut.
-Dr Reddy's, Zee, HCL Tech, Infosys and Maruti were the top gainers on the Nifty50 index while Hindalco, Tata Motors, Shree Cements, Bajaj Finserv and Bharti Infratel led the losses.
-Among sectors, the Nifty Metal index lost 1.4 percent on the Indo-China border tensions while the banking and Fin Services indices fell over 1 percent each. However, Nifty IT and Nifty Pharma ended the day in the green.
Nifty - Outlook for Friday, 18th September:
NIFTY has signs of selling pressure but IT and Pharma rally kept the market intact. We need to cross below11470-11450 before taking short positions. Any move upwards will test the resistance zone and needs to cross it before reaching upper levels.
BIG breakout in IT sector on weekly timeframe , big breakout on decade long trendline happened few weeks ago and its sustaining . so, strong possibilty of multiyear bull rally in stocks
