BankNifty is moving in the down sloping channel. RSI is coming out of Oversold area so it may try to touch the other side of it or at least the touch on trend line is possible. One can enter long at this level.
The Stock is at the interesting level so better to put it into watch list for a possible trade. Let's see what it wants to do.
Nifty slowly drifting down is having occasionaly bear climax bars and moving down. Here, both bulls and bears not doing a great job. Bulls not have the force to pull nifty up and bears dont find excited to push it hard. Trading in channel nifty is at the bottom of the channel and made a doji bar followed by a bear failure bar, continued by a bull body bar. so...
Buy above - 353.75 Stoploss - 350.25 Target 1 - 353.00 Target 2 - 355.60 Target 3 - 358.00
POWERGRID after recently making 52W high is facing trouble at highs and currently trading in a bulls flag in Daily charts. RSI price negative divergence was observed near highs and RSI is continuing to trend lower. POWERGRID can be shorted near TL or below 180 for 173/170 tgt. SL above the trendline or above 195
The stock has formed double bottom, gave breakout now retesting from above. One can enter long now with reasonable Stop loss. Pattern Target is 353.80 however there is resistance at 341.40 so let's see which one it achieves. Even for the lower target risk to reward ratio is good.
* Channel Breakdown & Retest (Green dashed line) * Diamond Breakdown (Black line) * Support zone breakdown (Red horizontal lines)
* Descending channel breakdown * 50% Fib retracement
The stock broke the channel and immediately came in the channel gives a chance to trade short for a target of around 251. Stop loss 291 on closing basis.
It is been observed on weekly chart that the price action is trending in a down trending channel where the price action reaches to the support levels of the channel and signalling buying at the levels. This indicates buyers coming back that are pushing the price action upwards. It shall now move the price to previous support levels which will now act as...
Channel down formation on LT at 30mins chart. Indicators are not giving signal for bull. Trade may active on tomorrow or today (16/11/2016) itself. May be LT move over sideways until indicators giving bull signal. so keep focus and add in watchlist for next day. Trade Idea: Buy above - 1380 Target 1 - 1395 Target 2 - 1408 Stop Loss - 1366 Target 1 points...
The Stock seems to have formed the bottom and being accumulated, Buyers/Investors find that it cheap at current price level thus buying emerges. One can enter now with small Stop loss entry which offers decent risk to reward ratio.
It is been observed on daily chart that the price action is trending up in a channel and now it is breaking out from the previous support levels of 418 and dipping down towards the next strong support levels of 408-405. The sellers are in dominance over price action and it shall now dip and correct further down.
CL1! has been trading in rising channel pattern. The prices have tested the lower band and moving northwards. The minor hurdle (black dashed line) at $46.50 if cleared by Bulls (on closing), we might head towards $54-58.
It is been observed on a weekly chart that there is a red candlestick breaking out from it. It indicates weakness and a high selling pressure. It shall confirmed a breakout as it closes below 26 price level and now it may further go down to 23.50 levels initially and then 20 levels. Target 1: 23.40 Target 2: 20.50 Stoploss: 28
A very simpler Nifty trade setup from this current channel, if we get break from channel & 8k's broken 7940's is our next level, OR Markets some bullish momentum 8380's. Either way we will be around 8300's around expiry ( Just My speculation, don't trade based on these ) Once we did 180 seconds flat, Now just 60 seconds for couple of trendline(channel) & Support...
* Channel Support * Bullish Harmonic * Oversold RSI *View negates on a close below 600