The stock is taking its time out at the 60 levels on RSI. After a unstoppable rally from August it has moved sideways and have consolidated. As of now he prices are resting on KS/TS support line, if a breakout is not registered within a session or two then some serious momentum loss may be grip up thereby pushing the stock into some sharp corrections.
USDINR: The currency pair has pulled back in the past week, the last two sessions were positive and the prices managed to close above all resistance and pivot levels. The RSI is into a bullish zone and bounced from the bullish extreme zones. The MACD is positive and above zero. The pair is expected to move higher in the coming sessions. The pair may move to 72.25...
The MID Cap index took support and bounced back. The level from which the index bounced was very strong inflection point. Two back to back bullish candle with good volumes indicates real interest in the stock. Moreover there is a long term positive signal in RSI and MACD is positive with bullish bias. All these indicate that mid caps may pick up pace in coming weeks.
Canbank took resistance at multiple resistance zones and pushed down again. Now the stock is just at a minor resistance moving above it will be a positive sign for the stock in the short term and prices may push to 235 levels. However any failure to hold above it will result into continuation correction.
The stock took support at multiple levels, now trading at the KS/TS line, after bouncing off from the clouds. The momentum is positive with RSI resting close to 40. If strength persists the stock may move to 83 levels. On hourly charts it is at a make – break zone.
In my last Friday’s update I mentioned that we may see banknifty trading at 31000 levels. The index registered a close at 31160 today. Now it’s trading close to a support level the KS line. A major support is at 30600. Most of the time KS acts as a very good support for prices, so a bounce from it is not ruled out. 31600 will be the decider level for coming...
MARUTI SUZUKI: The stock was holding support levels for last few sessions, in today’s move it broke down from an important pivot and negated the bullish view. Now the stock is expected to remain sideways to down for a couple of weeks. The RSI is close to 40, which may result into some bounce, till 7000 levels. This level will now serve as a resistance instead of a...
NIFTY: Nifty took beating from the bears in the last two sessions. Now at a very key juncture, a break and close below the 12000 levels have shattered the physiological support levels, still the bullish nature is not wiped out fully, if the fall continues the index may tumble to 11420 levels, again the levels I am mentioning may be vague & outrageous but still...
BANKNIFTY: Selloff was dominant on the last two sessions on daily charts. After the RBI policy, weakness took over resulting in a sell off. Prices closed below the TS line almost after 45 days of holding it. A minor support has been given away. The next key support zone is close to 30790 levels, the index is expected to take support here, breaking this key level...
Infosys took resistance at a very strong pivot point and fell back. The stock is still into down trend and the move up may be classified as a mere pullback. The last bar is a bear bar. A small support is at 694 levels, breaking this will result in sell off and infy may travel down towards 656 zones.
CONCOR: The stock opened with a gap up and the prices continued up during the day. The prices closed near the highs. The prices have been making a falling wedge pattern with falling volumes. The RSI took support at the 40 levels and bounced up, MACD turned positive (though it is below zero line) there is a minor resistance at 585 levels, the stock is expected to...
HINDUSTAN UNILEVER LIMITED: The stock had a fabulous run in the last few months. In the last few weeks, the stock displayed a loss of momentum and correction occurred. Now the stock took a hit at an important pivot and corrected. The stock has minor support at 1995 – 2000 levels below which there may be a further correction to 1920 levels. However, a move above...
APOLLO HOSPITALS: Prices are ranging between a symmetrical triangle pattern, this leg up missed the upper boundary of the pattern indicating weakness probably. Symmetrical patterns are neutral patterns, let’s have cues from the indicators. The RSI is into neutral zone has formed a NR, MACD is just at neutral zone. The prices have faced resistance at important...
From the last 2 weeks, Bank Nifty is too volatile, making big high-low in a day and closing around opening price. The last breakout was not worked well as we expected. If we see the last four daily candles then Evening Star has been created on charts i.e. bearish chart pattern. We are expecting some more correction till the next support i.e. 30800. Whenever Bank...
The stock has made healthy retracement and have now it’s resting on the Kumo. Today’s price action was quite convincing to re-establish the buyers into the stock. The RSI is taking support on the bullish extreme levels with MACD curling up indicating momentum is picking up. If ONCG gets overall support from Nifty, the stock is expected to pull up strongly from...
PVR: The stock is in uptrend trading above the kumos. Now at an important pivot the stock ha managed to form a bullish candle. The RSI retraced and took support near the 40 levels which serve as bullish momentum support zones. The MACD is almost into a neutral zone. A channel breakout from the levels may re assert bulls in the stock & PVR may move up further in...
BHEL: In my previous updated i mentioned the range shift fact in the stock. The stock is reattempting breakout from the clouds. In today’s session it created a bullish candle. The macd is turning up while rsi is comfortably above 50 levels. The chikou is free As long as 51 levels are protected the stock is expected to move up in the near term.
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