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...
Clear uptrend in Monthly. Wide negative RSI Divergence is an issue here. Weekly shows a tight range, no conclusions. Daily creates a Descending Triangle. Will look for downward rejection candles and a break above Triangle in Daily to enter long with SL of 1540.
The stock was into dominant trend up, last few months the stock hasn’t displayed any zeal to move up. Now at a high intensity resistance level, the price consolidated and formed a negative candle pattern. The RSI is into neutral zones creating bearish signs. Macd is into bearish zone. The stock is expected to correct to 1620-1540 levels where it may find support....
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...
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.
NSE:DRREDDY shows negative divergence in Daily charts at the Monthly Resistance zones. Today, TL has been broken. Used 75 min to enter short on this one, once the TL was broken along with break of support levels. EMA crossover had already occurred earlier. An options call spread is suitable in such circumstances to eat premium. 1. Bought 2850 CE at 23.4 2....
Higher TFs have alreadyy thrown a nice breakout to the ATH. Monthly RSI is overbought now. Looking at the price action, I don't see a big reversal of any sorts. There is a nice 3 Bar Negative Classical Divergence (NCD) in the Daily. Also, it being at the ATHs and overbought levels make it more strong. The last candle was an upside rejection candle, again showing...
The stock is hovering around an important "institutional area" resistance here with bearish price candles can end Cipla's honeymoon here itself.
BPCL: An important candle formation has been printed on the BPCL daily chart. It’s a bear engulfing candle along with a “double key reversal” action. This is a very prominent signal in shift of control from bulls to bears. Also RSI has taken resistance at 60 levels with a bear divergence, a strong loss of momentum! Any further decline especially below 500 can...
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.
RSI DIVERGENCE DUAL TOP loosing strength , can short on bounce of 1/1.5% for 1560/1570 targets
RIL forming lower highs and lower lows after touching high of 1480 RSI trending down and weak volumes. Confirmation of downtrend below 1420.
PA to watch. short at cmp 420 with SL above 430
BEARISH DIVERGENCE IS SEEN WITH STOCHASTIC ONCE HORIZONTAL LINE IS BROKEN ON CLOSING BASIS IN 15 MINUTE CANDLE TARGET IS GIVEN WITH BLUE ARROW (664) :) STOPLOSS WILL BE SLIGHTLY ABOVE UPPER TRENDLINE 710 GOOD LUCK NOTE: FOR EDUCATION ONLY YOUR COMMENTS AND SUGGESTIONS ARE MORE THAN WELCOME FEEL FREE TO POST COMMENTS THANKS
After witnessing a sharp decline since May this year UPL has managed to stage a slow but steady revival . The daily charts reveal a steady trended action that is seen generating a demand at every pullback. The ascending trendline support suggests that the uptrend is intact and we could see more upside as value area resistance around 600 has been overcome. With the...
it is showing bearish divergence with stochastic upper trendline is stop loss if lower trendline is broken in 15 minute candle on closing basis targets are given with 2 horizontal lines note:for education only
Long above 187 SL below 175 Squareoff 200, 215