Breakout + Retest ( Best Opportunity !! )After rally of Asian Paints and Berger Paints , it may be possible that Nerolac paints could show good momentum. It's PE is around 60 and sector PE is around 90.
Now let's talk about technicals :- Stock has been forming symmetrical triangle pattern and now it has given a good breakout . Stock is now retesting the resistance line. If retest is successful , we can see a good up-move.
This is my analysis, done only for educational purpose only, feel free to share your views/feedback.
PE
Nifty Short Side if broke trend line I hope nifty crossing 13600 be a false break out Hope nifty open below 13600
hope it breaks the trend line and has the good shorting opportunity
I'll short 13600 CE with stop loss with 10 points as stop-loss ill update the level I enter for 1st half only ill hold is trend line break as tomorrow the option otm will get zero
in the second half maybe there will be an opportunity to buy pe of 13400 with trailing stop loss with every 1 point increase ill trail 1 point
ICICIBANK LONG SIDE ICICIBANK now it is in perfect trend trading tomorrow buy when 30 min macd gives buy signal . with target 1 488 . if market open with small gap up or nearly flat then take trade then only avoid if it open if opened big gap up and tomorrow thursday so please take equity only volitility will be high wait for indication . if look market looks bullish then best time to short 470 pe short
Nifty analysisI have given the bank nifty today morning before the market opens and I exactly mentioned to sell @ opening of market which exactly went my way .
Now here nifty has a down drift and oozing to sell with tight targets
Will post more updates on tomorrow’s forecast
Upper range 10100
Lower range 9800