The stock was into dominant trend up, last few months the stock hasn’t displayed any zeal to move up. Now at a high intensity resistance level, the price consolidated and formed a negative candle pattern. The RSI is into neutral zones creating bearish signs. Macd is into bearish zone. The stock is expected to correct to 1620-1540 levels where it may find support....
Taking support after breakout on 18th November is a good sign confirming the institutional presence in the stock. The stock is now setting up tone for a strong move up with supporting volumes and momentum. The RSI is positive into the bullish zone and MACD well above the neutral zone with positive bias. Longer term targets are close to 485 levels!
The MID Cap index took support and bounced back. The level from which the index bounced was very strong inflection point. Two back to back bullish candle with good volumes indicates real interest in the stock. Moreover there is a long term positive signal in RSI and MACD is positive with bullish bias. All these indicate that mid caps may pick up pace in coming weeks.
The stock took support at multiple levels, now trading at the KS/TS line, after bouncing off from the clouds. The momentum is positive with RSI resting close to 40. If strength persists the stock may move to 83 levels. On hourly charts it is at a make – break zone.
In my last Friday’s update I mentioned that we may see banknifty trading at 31000 levels. The index registered a close at 31160 today. Now it’s trading close to a support level the KS line. A major support is at 30600. Most of the time KS acts as a very good support for prices, so a bounce from it is not ruled out. 31600 will be the decider level for coming...
NIFTY: Nifty took beating from the bears in the last two sessions. Now at a very key juncture, a break and close below the 12000 levels have shattered the physiological support levels, still the bullish nature is not wiped out fully, if the fall continues the index may tumble to 11420 levels, again the levels I am mentioning may be vague & outrageous but still...
Infosys took resistance at a very strong pivot point and fell back. The stock is still into down trend and the move up may be classified as a mere pullback. The last bar is a bear bar. A small support is at 694 levels, breaking this will result in sell off and infy may travel down towards 656 zones.
BPCL: An important candle formation has been printed on the BPCL daily chart. It’s a bear engulfing candle along with a “double key reversal” action. This is a very prominent signal in shift of control from bulls to bears. Also RSI has taken resistance at 60 levels with a bear divergence, a strong loss of momentum! Any further decline especially below 500 can...
BHEL: In my previous updated i mentioned the range shift fact in the stock. The stock is reattempting breakout from the clouds. In today’s session it created a bullish candle. The macd is turning up while rsi is comfortably above 50 levels. The chikou is free As long as 51 levels are protected the stock is expected to move up in the near term.
After witnessing a sharp decline since May this year UPL has managed to stage a slow but steady revival . The daily charts reveal a steady trended action that is seen generating a demand at every pullback. The ascending trendline support suggests that the uptrend is intact and we could see more upside as value area resistance around 600 has been overcome. With the...
Short Tesla for the next two days because RSI is over 70, and following trend patterns, we see Tesla about to hit upper price band. If Tesla hits the upper price band short immediately and it RSI goes above 75, short.
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