DEEPAKNTR Intraday stock for 17 May NSE:DEEPAKNTR
If you analyse that from 5 th may stocks in downtrend ,yesterday it made bearish big candle and if you see stocks now at 0.236 Fibonacci retracement level so it mostly going down its also below 20 day EMA . Am expecting that it ll reach 0 level of fibonacci retracement which is around 1649-52 beacause there is no support in between till 1650 level. so you can short after it crosses 1710 level with around 20-25 stoploss...expecting target 1650 which is 1:2 risk :reward ratio. (chart timeframe hourly)
caution: this is only analysis not prediction so trade with own risk.
Nsestocks
NIFTY50 in 15 mins chart.Looking at OI data, FII & DII data we can expect some up move in NIFTY. Dow Jones is trading at +350 points while posting this. Talking about lockdown news there is been some ease with the rules. Looking at overall sentiments we believe we can see some positive move up. Targets are set by Fibonacci levels. We have also drawn the red box which indicates the range we believe market will move if hedging position are held on expiry day. Trade at your own risk. Trade safe. Targets are marked in charts.
INFY ON HOURLY CHARTINFY on hourly chart is sustain above 200 EMA indicating that stock is still in uptrend. Also observing closely we saw that 200 EMA and Fibonacci 61.8% acted as a very strong support for the stocks. Now talking about oscillator, MACD is giving a really good Divergence between price and momentum. Macd divergence with reversal from levels with good volume is indicating that we can look for long setup. Intraday targets are given on chart. Trade at your own risk. Play safe. Strongly maintain your stoploss .
Adani ports on 15 min We forgot to mention about Adani ports. Few days back and we told that stock has made ascending trainable pattern and breakout on either side will give good directional target. Targets achieved.
Adani port is in news after S&P index has decided to remove the stock with it links with Myanmar military. We can see some fall in upcoming days if markets reacts negative on this news. Trade safe
NIFTY BANK ON 15 MINS CHARTNifty bank is trading below 200 ma and 50 ma acted as a strong resistance for today session with Fibonacci 38.2% level too. BNF is also making W pattern or we can see Triple bottom pattern which is a trend reversal pattern. Wait for the trendline to break above for buying setup. Trade safe.
TATA POWER ON 30 MINS CHARTTata power is trading in downtrend. After a good double bottom pattern, TATA POWER did try to move upward but if we look at the retracement levels using Fibonacci, we can observe that stock has not yet broken the golden level of 61.8%. There also a possible HEAD & SHOULDER reversal pattern but we believe that can be a fake pattern formation because as stock is approaching towards FIBONACCI 61.8% level, buyers are getting weak. As this is 30 mins chart we believe TATA POWER can end up in a range bound market for upcoming week. Trade safe
BANKNIFTY on 15 MIN CHARTLONG - Mostly all of the index, stocks are trading near the Gap up area that was occurred with Budget day news. We think it’s very very crucial support because it has been tested multiple times on smaller as well as bigger timeframe. Very crucial situation but there’s few points that indicates that we can see reversal from the current price.
1) MACD DIVERGENCE
2) STRONG SUPPORT LEVEL with FIBONACCI and GAP UP( STRONG DEMAND ZONE)
3) GLOBAL INDICES AND SGX NIFTY UP ⬆️
SHORT- As we said earlier BNF ais at very crucial level and at very dicy situation. Move on any side would definitely give good movement. Once the support area is broken we can definitely see BNF goin atleast 800-100 points down. We tried to look for more evidence for short opportunities but we couldn’t find more.
Plan your trade according. Trade safe
NIFTY50 on Hourly chart.We are still long on NIFTY50 but we wanted to post for selling scenario too. If Nifty50 doesn’t sustain the bullish pressure near the gap fill area and break the support , we can definitely see NIFTY50 in bear mode. Plan you trade accordingly. Because there’s no immediate support and Nifty50 if falls can give you 400-500 points.
PAGE INDUSTRIES ON 15 MIN CHARTThis analysis is on request of one of our followers.
Page industries on 15 min has formed a Descending triangle. Now the most confusing part of this price action pattern is that, it’s neither a reversal pattern or continuation pattern but in fact it’s called NEUTAL PATTERN, which means that this pattern can give a breakout or a breakdown or in simple words in can break upward approach downward & traders have to be ready to trade to the respective trend. The target is usually similar to the middle range price area of triangle.
Page has already given a breakout and achieved the given target set by the chart pattern. We suggest to hold on for some days & let the big players come in and take Page out of range market( haven’t entered yet, but it might end up in range).