An energetic morning for bears as SGX Nifty is trading ~1% down. The lower high- lower low formation is a sign of bearish setup. The break below rising trendline (red line) and lower horizontal line (golden line) would trigger the test of support line of falling channel (black parallel lines) at 8,430.
Nifty is making a Flag Pattern which is coming near the lower trendline with MACD Divergence.. I would expect the price to go higher from there which gives a potential buying opportunity.. If it break the Flag upper trendline line then My Markets are at the all time highs around 9120. However, if it continues to go lower then I would wait to see what pattern is...
Asking Right Questions leads you to Right Answers ! So here I have 2 Questions : (i) 8500's supported 6 times, Will it Break to make the Gap Theory Work ? (ii) Elliot wave counts within Triangle shows Upside Breakout, will it work this time ? Yes for Ques(i) opens the door for Bear party near to 8k's & if yes for Ques(ii) Opens Door for Bulls to reach 9k's. Now...
NSE:TATACHEM Buy with A target of 610 over 4-8 weeks and with a stoploss of 525. do consult your advisors before taking trade. Sale of the urea business has helped de-risk the company from policy uncertainties Investors with a two to three year perspective can consider buying Tata Chemicals. The sale of the urea business in August indicates that the...
current structure shows that we can see a final leg towards upside than there could be a fall following. but to note that nifty should not proper break the upper channel line.
Nifty future yesterday broke the support of 8550 level and moved to 8507 that what the level that we had discussed in the past as well and had it marked. Till now NIFTY seems to be playing within the channels and we saw a sharp bounce from that zone as well giving good contraction play. Support remains at 8500. Resistance level at 8600-40, Market can be shorted on...
Auropharma is giving a Buy Setup!! After the correction in 5 wave.. I would expect it to give an upward correction towards 50 to 61.8% fib levels. Happy Trading!!
AbirlaNuvo is potentially breaking down and would go lower for target of around 1250.
It is been observed that the price action forming a descending triangle on daily chart, and now it finally breaks out . from a strong support levels of 8550, indicating a strong weakness and bearishness ahead. Now it shall go further down and shall reach to 8200 levels. Target: 8160 Stoploss: 8690 Risk Reward: 1:3
It is been observed that the price action is trending up, making new higher highs on weekly chart. It is also observed that price action breaks out from a rectangle shape flag pattern. (When the price action breaks out upward against the downward sloping rectangle consolidation pattern confirms a flag pattern breakout). As per the flag pattern, the targets are...
Colpal is looking is bearish and might go down further.. Targets for the downside is around 900 levels. Happy Trading!!
AmubjaCement is ready to go higher from current levels.. After completing the correction the stock is ready to move higher. One can go long on the stock at current levels with stoploss just around 240 for the Target of 300. Its a nice risk reward trade.. Happy Trading!!
Nifty would go higher from current levels with first targets around 8775 and second targets around 8900.
BankNifty would go higher from current levels with first targets of 19700 and second target of 20050.. One can keep a stoploss around 19050.
Trendlines and resistance are the simple tools we have used here in LT and if we get valid bearish confirmation in the zone enter shorts in LT with proper stops, if the price crosses above resistance zone, trade is invalid, No trades. Happy Trading !
Stock seems to be forming 5 wave impulse in downward direction. Some more downside possibly till previous low looks likely. Volumes at low are still low even in daily charts indicating buying has still not happened. Would look for divergence for confirmation of bottom.
is all set to go higher from current levels. One can go long on the stock at current levels with stoploss just below 80 levels and targets around 88.5 / 90 levels.