The stock touched its all time high 198 in Sept/Oct 2017 and has been in downtrend since then largely trading below its 200EMA. The stock has formed multi-year Rounding Bottom pattern, with another minor rounding bottom inside it. The short term, intermediate and long term targets & major resistance levels are indicated in the chart.
The stock has seen exponential rise since last many months without any intermittent major corrections. The fresh trend lines created have been breached now, and stock seems to have entered into sloping / sideways channel since Feb. Expect to see corrections upto 1300-1250 or upto the trend line which will be healthy for accumulation & gather momentum for future uptrend.
BankNifty also has the same sentiment. The market may start with a gap-up. After that, if it breaks or consolidates around the immediate resistance zone, then it may continue the rally and could reach a minimum of the minor swing high to 48424. Alternatively, if the market rejects sharply around the immediate resistance zone, initially we can expect a 23 to 38%...
Good morning, friends! 🌺🍬 Here are the directions for May 16th: The global market is indicating a bullish sentiment based on the Dow Jones, while our local market sentiment suggests a moderately bullish trend. It might open with a gap-up start, as suggested by GiftNifty, showing an increase of +120 points. Nifty minorly retraced after the gap-up start in the...
Edelweiss Financial Services Ltd: Inverted H&S Pattern Breakout soon stock 30% upside potential. Levels mentioned on chart. Plan your trade accordingly. Views are for ‘’EDUCATIONAL PURPOSE ONLY’’,trade at your own risk. "Trade what you see, Not what You Think" Happy Trading(:)
BankNifty Analysis — Stance Neutral ➡️ BN ended the day with cuts of -172pts ~ -0.36%. We went neutral after the price action on 13th May. After that, we had one up day (14th) and a down day (15th) — the result, we are back in the neutral territory. BN did not even go to the 48115 levels which came as a surprise. Ideally, on 16th there may be an attempt to...
Nifty Analysis - Stance Neutral ➡️ Recap from yesterday: "I am hard-guessing it should be a short covering. The moment we get past 22295, we will be forced to go long." The open was good and we started climbing quickly but at 22295 levels we got our first rejection. Four strong red candles between 09.51 and 10.27 brought N50 down by almost 143 points. If 22295 was...
#Banknifty:16th May Step1: S1- 47862 Step2: S2-47534 Step3: Resistance zone 48157- 47947
📈 Bank Nifty Intraday Spot Chart Technical Analysis: 16 May, 2024 📊 Range Trigger Point: 47687 📉 Day Range: 423 Points 💰 Buy Above: 47796 💼 Average At: 47746 🎯 Buy Target 1: 47949 🎯 Buy Target 2: 48110 🛑 Buyer Stoploss: 47655 💰 Sell Below: 47696 💼 Sell Target 1: 47426 💼 Sell Target 2: 47265 🛑 Seller Stoploss: 47837 Don't forget to reciprocate your love by...
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Hi All, I am Elliott wave analyst and i am more focused on Nifty 50 stocks, my trade idea would help learner/investor to identify the trade setups and market direction. I am not Sebi registered analyst, nor this information is for Buy/Sell or Sell/Buy. ' Investing or Trade setup:- We are in uptrend and completed 4 Subminute wave now we are looking for Micro 1 and...
BankNifty shows a downtrend in last few sessions and take a pullback, Bank Nifty formed symmetrical triangle pattern in last session, if tommorow Bank Nifty breaks symmetrical triangle pattern downside then we can expect a big move in downside or if it breaks upside the we can expect more pullback for 1 or 2 sessions, here are some levels for your...
Expecting a Breakout Swing upside Target 174 from CMP Note: This is just a view and not a recommendation
Hello there After making low of 21821..good pull back seen.. Currently nifty in range Yesterday also closed at 22200 almost & today too.. It seems 22150 creating support.. All though today high made of 22300 still nifty face rejection from this levels, hence nifty must hold 22260 & above for further upmove.. Thank you 🙏
A breakout in Inverted H&S and a Flag Pattern being created. Breakout of inveted H&S leads to 75K above tht it breaksout from the flag pattern as well. making a target of 102K.
Post super results...the stock pulled back and might've taken out many stoplosses.. Now its turned around again.. Long above 2360 where there would be a wedge breakout with stoploss below 2240. Double up the allocation above 2680. There is a high tight flag setup here..so if it breaks into a new high..might lead to a good move..!