Todays trend day may continue by tomorrow if a gap up opening is seen and sustained above 48300 then bullish action can been seen
Support at 48000 to 48050
Resistance at 48250 to 48300
If gap down below support or trendline break may make sideways or range bound day. Also todays buyers will look to book profit.
BankNifty Analysis
On Friday I changed my stance from bearish to neutral since we had a strong performance. We pushed through the 44068 resistance and maintained those levels. But today we dropped below that and even closed lower.
Notice we took out the 44068 level in the opening 5mts candle itself. From there we hit a new swing low of 43796 and then recovered...
This analysis is to see some of the ratio charts of different sector in comparison to Nifty, which in my opinion can give a directional edge to traders for short to medium term in terms of identifying which sector may be outperforming wider market.
Pharma Index / Nifty ratio chart is suggesting a falling wedge BO on weekly charts and possibility of Pharma...
The relative strength (ratio) chart of Nifty to S&P 500 (NIFTY/SPX) has hit its long-term resistance once again and has been consolidating in that area for some time now. Breakdown from this consolidation can take the Nifty/SPX back down to previous horizontal support.
Note: This is for educational purpose only as the ratio itself is not tradeable and to place...
ITC is outperforming FMCG Index by a big margin and it has given a rounding bottom breakout on weekly charts. All other FMCG Stocks are getting hammered sue to serious high valuations, however ITC which is undervalued is getting attention from portfolio managers and its being bought.
ITC is providing a high dividend yield above Saving rate which is attracting a...
LT, forms "W" generally on the weekly chart. You can research it and post it in the comment section. I will support you on how to find/detect inside signs and clues.
* Before you expecting anything else from this graph just look at the daily and weekly and Monthly graph
* ICICIBank is getting support from its 100 DEMA and 200 DEMA sharply
* Now ICICIBank is above all average as well as the Near of all Average Respectively 426-418-420-400
* There is some consolidation in Hourly graph if Nifty continue above 11325 then it will...
Dear All
It looks like we are almost at the ned of the pain for small caps. I say almost because if this level brekas we may have another 10 to 15% of fall in small cap index and a 5% fall in NIfty to watch out for
Regards
Srikanth
After years of under performance upto 2015, Reliance Industries has been going through phases of out and under performance wrt Nifty in the last couple of years. Since late-February, there has been a sharp outperformance and the ratio line has crossed its 200-DMA, which is a positive sign.
Logic dictates that it is the right time to focus on Reliance, as long as...
