CNX Small Cap Index registered a decent close above all major pivots. Also RSI is now displaying bullish momentum with MACD comfortable into bullish zone. Small Caps stocks are expected to outperform the overall Nifty index in the coming quarter.
Gail is trading at an inflection point. A strong close above 127 will fuel up the rally whereas any selling pressure at the current levels may push the prices down south again to 110 zones. The RSI is at the bearish extreme zone.
Cumminsind stayed strong and managed to register a close above an important pivot level. 600 will serve as another resistance in the coming week above which the stock can rally hard "bohot hard" Also noticing an inverse H&S in the stock. The swing of right shoulder can be kept as a stop loss. The RSI has started moving into the 60's and MACD is above the zero...
The RSI is facing resistance at the bearish extreme levels. We can notice the price action hasn't been too supportive for longs. A not so prominent H&S is noticed. Breaking below the neckline may result into deep corrections.
Infosys was hovering around a very strong resistance from past one month, in today’s move it finally gave a close above the same. If the price is able to sustain above it for a session or two the stock may be ready to scale up further. The weekly prices are above the kumo while same is seen on the daily charts too. The CS is free the prices are expected to move...
CANBANK: Recent rally in public sectors banks have been good and strong. Almost every public sector bank rallied more than 20% from their recent lows. Canbank is now hovering at a resistance point. There is a strong supply area ahead, if the stock fumbles here, there may be a small correction which may rest close to 208 -205 levels, if a breakout is successful...
BRITANNIA INDUSTRIES: The stock is hovering around a very strong support zone. The RSI bouncing off from 40’s further indicate the momentum support in the stock. MACD is neutral and picking up (though not positive yet). A minor bottle neck is placed at 3130 – 3145 levels, above which 3280 &3360 may be evident.
Trend continued to be in bearish territory on back of EMA (20 EMA below 50 EMA). Recent correction from the resistance of 140 level where roof of the downward trend line hovers. On contrary, as MACD above zero expect the price to find support around 120 levels. In the recent past, the price comfortably found support around the same level twice. Expect a bounce...
HEROMOTOCORP: The stock has been into tight sideways consolidation since few week. The whole auto sector picked up, leaving behind hero motocorp. In todays session the price broke away from the kumo. Even on the weekly charts the price is below the kumo. RSI is into 60 – 40 zones, displaying no signs of strength as of now. To establish strength Heromotorcop needs...
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
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
Price crossover above 200-EMA and 50-EMA signals that the trend in positive note. Expect the price to move upward in the coming days. Recent trough around 2500 level would lend necessary support in the coming days. Expect the stock would expire above the support band of 2300 - 2400 levels for Aug series. Recommending option writers to sell 2300 Put Aug.
Trend is continued to be in consolidation phase between 310 and 400 levels. It wanders around 200 day EMA while MACD signals negative bias by staying below zero line. Expect it to stay below nearby resistance level of 370 till this expiry. As election result is on due, would like to adopt spread strategy. Lot size: 2667.
Titan has been in a bull run since last 7 months. After long long time, RSI has fallen below 60 levels showing bulls are loosing power. As per daily pivot chats, R3 stands at 1217. Currently Titan 1240 CE is available for 12 rupee premium. 1240 CE seems to be a perfect short candidate with margin requirement of 1.6L and net ROI of 5.47%. If Titan Breaks 1220 will...
YesBank neutral strategy for May expiry. Stock has corrected a lot before results and expected to consolidate before giving a decisive move. On upside its expected to get stiff resistance near its Fibonacci retracement levels of 211.6 and on downside 148 is likely to act as support. Expecting an expiry within 150-210 and hence created below neutral option spread....
ICICIBank had a nice bull rally from 350 levels and trading its all time high. In current situation going short or long nacked is likely to create damage to the portfolio. So creating neutral to mildly bearish spread as I am expecting some correction from the higher levels when BankNifty is selling pressure at its highs. -1x 30MAY2019 FUTURES - ₹ 409.1 +1x ...
EMA 50-day and 200-Day signals the bearish trend. Recent reversal from 50-day EMA and MACD confirms the downward trend. In the coming days, the stock would retest the downside level of 200. Expect it to expire below 200-EMA which hovers around 240 level.
Trend continued to be in bearish note. Recent reversal below 100-EMA and breakout below wedge pattern confirms the continuation of downward fall. Expect the price would stay below 8000 level for this expiry.