The weekly banknifty chart has closed negative this week, back to back two bearish candles also indicates momentum suppression in the index. 31800 will provide immideate support to the index, giving away this may push the index to 31300 levels. However the trend is still up and any bounce from the support will push banknifty up 32600, 32800 & 33300 finally. The...
MACD appears extremely oversold and at the same time there is a AB=CD formation on EURUSD. We may see a retracement to the neckline (of the broken H&S) which is around 1.0980-1.10, which can be a great shorting opportunity from a medium term perspective.
As you know, Ichimoku is a complete system that provides a reliable signal.
A closing above 12135 will be the fifth and final confirmation of medium term uptrend as per this complete system.
KEEP TODAY's LOW as your stop loss, if you take a position.
9&34 EMAs on Index and 14 RSI system generate a reliable trend reversal signal.
My followers on this form, tele gram and twitter would know, BankNifty is already in -VE zone as per this system.
A small downward moment in Nifty will make this system confirm medium term weakness for Nifty as well, you may in the chart the gap between 9 and 34 EMAs on Index is...
Next Support area is 11850 - 11800. Price-wise correction is due any time we can see selling pressure. Aggressive traders can short below 12300 by keeping SL Above 12400 for Target of 12200 - 12000 - 11850.
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...
Weekly is showing a halt in the continued DT. Price below 50 EMA.
The weekly zone is proving important in Daily. I am seeing 4 rejections. Yesterday price closed below the 50 EMA. We can see 6 back to back red bars, giving a nice bear picture.
In the 75 min, price broke the level of 467 on 6th Jan and is giving a nice pullback to test it with two wick...
The index has been consolidating in a sideways range since last two weeks. A triangle pattern is visible on the daily charts, the breakout is yet to occur. The prices are holding the TS line support tightly. This 12200 levels will serve as minor support while 12070 the KS line is an important support. Any redound should take place from these supports. Nifty is set...
