Recovery
Nifty 50 Bullish above 14700_ Major hurdle 14760_ Lifetime high?Please read each point carefully:
1. Nifty 50 tested 14650 levels around 7 times
2. I am expecting bullishness above 14700 (It must sustain above 14700 for at least 10 minutes). Just look at 16th April candle, it didn't even sustained for 5 minutes.
3. I am expecting "huge bullishness" above 14760 (Because, it break the previous lower highs and recent highs)
4. I am expecting Nifty 50 to test its life time high again ✌ after breaking those important levels. There are some corona related reasons as well:-
i. Vaccination starting for above 18 years since 1st May.
ii. Corona looks little bit controlled. Look, as more and more people getting vaccinated, the fatality rate will come down sharply (according to my expectations). Lock down lifts, businesses start.
Disclaimer: You're solely responsible for your decisions taken in market. I've shared my analysis just for educational purposes only.
NIFTY - Russia Ukraine Index CrashRussia-Ukraine has created panic around world markets and almost all global indexes are seeing big fall in numbers. Nifty which was already bearish turned received heavy selling today as well and have breached an important support line of 16400. However there is one more ascending trend line support available at around 16000 level which has worked in past when index consolidated for more than 60 days. Range starting from 15500-16000 last time was area of major action when lot of tussle happened between bulls and bears and finally breakout happened for further fresh rally. If price continue to fall we can except some kind of support along trendline highlighted on chart.
HPCL rebound from lowsIt is on a verge to a rally unless 219 breaks on the below.
First target is 330 and then 490
Divd yield is 3.72%
Promoter holding 53.5%
Debt/ equity - 0.91
Pledged percentage - 0%
It is a good fundamental pick with comparitively cheap price compared to peers. Technically it is showing a rebound from its lows.
Due to increasing demand of economy recovery there is an expectancy of increase in EPS for further years.
Company is expecting prices to range between USD50-60/bbl in which case they are fine with this oil prices.
Disclaimer - This post is for educational purpose only. Please consult your financial advisor before taking any position.
GLENMARK PHARMAWith the strong recovery of the pharma sector, Glenmark is at the pre-virus levels and has been attempting to breakout of the range. The sector has been in consolidation for several days and it may attempt a breakout to slightly higher levels. The pharma sector may not face sell offs in the midst of the pandemic, in my opinion.
NIFTY - Strong support level - 11830NIFTY will slowely recover from big fall, the strong support is at 11830.
I marked the level of nifty expected to reach at marked date during Aug 2019. At this momment, the strong support are at 11830 and also at 11780. If any fall below 11780, then this analysis is void. Incase if nifty breakout 11780 level then it result in Big fall thenafter. I did multi time frame analysis and publishing this chart in 15 mins.
I couldnt see any big jump (400 points in a week) in upward or downward in Aug 2019.
Target 1: 11068
Target 1 date : 21st Aug, 2019
Target 2: 11220
Target 2 Date : 26th Aug,2019