NIFTY: Nifty made a lower close this week. The narrow range bar indicative of weak momentum in the index (however it doesn’t signal outright shorts) but longs positions should be tighten at this juncture. Correction may initiate below 11800, which may extend to 11400 – 11300 levels, at this point we can notice institutional support coming up. The RSI is above 60...
MINDTREE EQUITY CASH (LONG ONLY): The stock seems to form a base as of now. On the charts we can see that it is hovering into 60-40 zones which indicate a shift of range from bear to neutral. Along with momentum as well prices are taking support now. Keeping a stoploss of 666 stock can be accumulated for a minimum target of 810. The prices may face a little...
BANK NIFTY: Banknifty made a sensible close than the Nifty, the price action supported the breakout trend line and bounced. Also a TS line acted as a good support level. The RSI bounced from the 60 levels, that too is a signature of strength. The lower time frames have to buck up now, the hourly timeframe’s RSI is still wagging between 60-40 levels. 30200 levels...
NIFTY: The index managed to pull up during the last hour of today’s trading session. Prices now resting at a crucial juncture (gap area) MACD is above zero line indicating trends is still positive, where as RSI bounced in 60 levels – which reaffirms the overall trend. On the lower timeframe Nifty has to prove it’s bullish worth, failing to do so may drag the index...
BHEL: After a former failure breakout attempt from the clouds, today’s session made an reattempt to breakout. The RSI is into a bullish zone and also managed to form a PR on the daily charts just near 60, indicating strength. The TK is pointing up with MACD above zero indicating bullish strength in the move. As long as the stock stays above 50 the trend up can be...
BANK OF BARODA: The stock is taking support at the KS line, forming a bullish sash pattern. The RSI is into 60-40 zone after getting above 60 levels, the move seems to be sideways with a positive bias. The MACD is into bullish zone above 0. Everything above indicates bullish possibility in the coming sessions. However a move below 93 may negate the view. We have...
BANK NIFTY: The index was over performing Nifty for the day, closed positive on weekly basis. Hovering around the breakout levels. Most of intraday’s gain was given away. The trend is up as RSI is well above the 60 levels. Any pullback to 30250 will be a healthy pullback, below it the index may further drift to 29350 levels. Any positive price action between these...
YES BANK: The stock has been in news after RJ’s activity in the stock. On the charts we can see a rounding bottom formation on going on the daily chart which is yet to breakout. The RSI though has changed its nature and has move above 60 and now bouncing on it. Once a breakout is registered the stock is expected to rally and move ahead to 95 and even 133 going...
COAL INDIA: Coal India registered a Kumo Breakout in today’s session. The KS is pointing up and future cloud is positive. CS is free, these are early indication of trend change. RSI bouncing from the 60 levels further pumps up the analysis. However the entries can be refined at 202 – 203 levels, the next resistance levels are placed around 224. Below 198 the...
Larsen & Toubro: The RSI is failing to display any zeal, taking a hit at the 60 levels and turning down, may not be a favorable move for buyers. The gap created post the earnings have been closed. 1425 closing basis may act as a support, beyond this, LT may start to drift lower.
ITC: The RSI has shifted range and held to it after a long time. Overall chart looks good, if Nifty supports the stock may start to scale up soon. The RSI bouncing on 60 is a good sign of buyers presence in the stock. A horizontal supply area is present and ITC is running into it, crossing it and moving ahead will be a good signal.
Stock tumbled from 310 level to 235 levels in the last 5 weeks. Recently, it witnessed sharp bounce back from low around 235 by following a reversal double bottom pattern with volume. MACD also confirms the reversal. Any fall could invite fresh buying in this stock. Expect the stock to expire above 230 level in Oct series. Lot size:2400
In continuation of my previous post, there was a concern on the Nifty weekly chart, the RSI on the weekly charts was close to 60 levels. Now the candles on the daily charts in the last two sessions seems to pull breaks on the rally. Though the momentum hasn’t dried up on the daily, the price pattern is giving signs. 11785 is the gap area, a close below this may...
NIFTY LONG TRADE BUILT-UP SINCE WE HAD DISCUSSED IN THE LAST CHART IDEA WE ARE BUILDING NIFTY LONG TRADES IN F&O NIFTY TRADE IN FUTURES PLEASE NOTE RATES ARE ACCORDING TO SPOT PLEASE ADJUST FOR FUTURES AS PREMIUM ARE HIGH BUY@11730-40 STOP@11660 TARGET 1@11845 TARGET 2@11948 ALL TARGETS ARE EXPECTED TO REACH IN THIS WEEK NIFTY TRADE IN OPTIONS CONTRACT:-11900...
Wonderful support on the STOPLOSS LINE. Buy in the Buying range area and wait the prices to reach 1.02609 with STOPLOSS Below RED LINE
short lupin below t1- 674 t2 -634 (risky investors )
Recent announcement from FM helped the index to witness breakout from consolidation phase of 10700 to 11200 levels. MACD confirms the positive momentum. Expect this month expiry would be above 10600 levels. Sell 10600 31Oct2019 put at 28 levels. Lot size: 75
AS WE CAN SEE NIFTY IS OVERSOLD ON BOTH RSI AND STOCH RSI .......... MARKET TO FALL TO 11200 .....I SUGGEST TO PLAY WITH OPTIONS .....11200 PE AT CMP HAPPY TRADING :)