As we can clearly notice that the stock has taken support at multiple levels and the short term RSI has got oversold. The volumes on the falling candles is not too great. All these indicate that the move down may be corrective. The RSI is into bullish zone with MACD above 50 levels. This also indicates strength. 501 – 502 may be seen as a minor resistance above...
We could have happier if we could mark the same bullish counts on Nifty too, but the Nifty’s chart is bit confusing. This may be due to the 2020 Union Budget. The markets reacts to an big event like these in just the opposite way before the event, this is because of sentiment overshoot. You may have noticed that generally before a big event the markets correct....
Notice that we have marked a very bullish scenario on the index. We believe that the budget can be a vitamin for the expected move. The index has been displaying strength & have hold on to an important pivot point on the chart. 30500 is a very important pivot for the index, if it holds here then a good move up is possible. Below this a sharp correction may grab...
The index bounced back today after correcting during the week. As mentioned that the narrow range candles have created value area which will act as resistance in the coming weeks. The weekly candlestick pattern is not very encouraging for bulls. We have an immediate support at 12130 levels, Nifty is expected to hold on to this to maintain the gains. Above this...
A decent move was noticed in Larsen & Turbo this week. The prices closed above a previous swing, RSI has moved into neutral zone from a bearish area while MACD has moved above zero level. These point towards strength in the counter, with expectation on infrastructure expenditure allocation in budget a up move may be triggered in the stock. The stock may meet...
The stock registered a breakout this week and have managed a close above the clouds. The RSI has moved into the bullish zones with MACD above zero. The stock has become a long candidate an pullbacks. Levels of 560 – 545 may provide support to the stock and it may move up to 580, 590 & 620 levels. If the stock fails to hold itself at 545 levels then it may further...
The overall index has been under performing since last two weeks. Mid Caps and small caps are outperforming the BankNifty. The RSI is into bullish range, so there is still no sign of weakness, this may just be a consolidation phase. The prices have taken support at an important pivot level, the candle formed is an indecisive one, we may expect bounce in the index...
Since couple of weeks this mammoth was taking a nap, today’s price action seems to wake it up. A bounce from the support area with a bullish candle is indicative of the underlying strength in the stock. The RSI is into bullish zone and MACD too into bullish area taking support on neutral zone. The momentum is turning up in the coming sessions the stock is expected...
The index created a new high this week, failing to close above it. The small body candles are creating a value area at the highs, it’s very important for Nifty to move above this value area to establish strength, the rally is fueled by small and mid caps, Nifty should support this overall movement. While the RSI is displaying divergence, the major momentum doesn't...
The stock has held on to support levels since couple of weeks. The current momentum is picking up and is expected to move up in the coming weeks. The RSI is into bullish zone and the price is forming accumulation formation. Currently trading at 84 the prices seems to be bit extended. Positions can be created till 82 on corrections above which the stock may rally...
BPCL has been moving sideways to down since last few months. The levels of 480 - 485 will be acting as resistance. We can notice a gap as well. The RSI is trapped into sideways range. The 480 - 485 levels needs to be broken off to re establish trend up, failing which the stock may still correct further,
Auropharma was into a sideways zone since last few weeks. In the last session an attempt has been made to break above the zone. 480-485 levels will serve as near term resistance above which the stock can move up to 560 zones comfortably, the next supply area is placed there. The RSI has maintained itself well into the bullish levels,also the MACD have turned...
On the daily charts a clear sign of range shift is visible on RSI. Right now the stock is at immediate resistance of trend line, above which the stock can further scale higher. On the weekly charts we notice RSI taking support on 40 levels, hence yet another signal of strength. The macd on the daily charts is above zero line. Overall the stock is painting a...
The weekly charts displays inv head & shoulder marked in green, while the daily charts displays a topping h&s marked in red. Any one pattern needs to be negated. While RSI is into bullish zone, any retracement can be utilized for getting into position in the stock. While the MACD is bullish on daily as well as weekly time frames. It will be a good watch in the...
GAIL has closed above an important pivot level, net resistance is placed at 138 - 140 levels, above which a good and strong move may be seen to 170 levels.
RSI is now spending time in bullish zone while MACD has moved above zero line. Accumulate on dips suggested.
The stock has been trading with strength since last few sessions. It has been above to maintain above the support levels. An inverse head & shoulder pattern is visible on the daily chart. The breakout took place in the last session. The stock has to maintain itself above 55 levels, if it holds the levels then we may witness emergence of a fresh bull run in it. A...
The index pulled back in a great way after the Middle East tensions. The prices halted at the previous highs. The momentum (RSI) is into a sideways zone and still diverging with the price. A sustenance above 12290 may push up the prices to 12360 – 12500 levels, however any failure to sustain above the levels may push nifty to 11930 where it may find support. The...
Finally a eventful week ends. This week made trading the most difficult task. Price actions were impacted by the tensions between Middle East and US. In the end the indices did manage to sustain most of the losses that were made by the attack news. The last candle on bank nifty was undeceive though the weekly close resulted into a hammer.31450 levels will serve as...
