renko

Short term (4-5 days) trend in NSE:NIFTY is down again as per Renko charts. Any recovery should be treated as mirage!

Tomorrow NSE:BANKNIFTY may open with a gap down or flat. This will the best opportunity to enter a long position for 4-5 days. RSI has entered the oversold entry which can slow down or even stop the falling NSE:BANKNIFTY

NSE:NIFTY can fall for next two days (till F & O expiry) . Best bet for shorting is above 11750 (if its a gap up opening) when it will surely reach an overbought region. This call is based on tentative Renko Supertrend sell signal (Not yet appeared, but a good chance of appearing tomorrow) as well as a tentative 'Overbought RSI' signal (Again not yet appeared, but ...

It seems profit booking may drag NIFTY B to 27500 in 3-4 sessions. Three indicators are confirming these: 1. Renko Daily chart (Brick size = 38) 2. RSI (14) hitting the upper threshold. 3. Aroon Down (Red) crossing Aroon Up (Green). Once can take a position to gain 600-650 bank nifty points.

Daily Renko Charts (Brick size: 1.97) & Supertrend Combination are giving a buying position for NSE:ARVIND for next week. One can enter a bullish position in Future/Options for August Expiry. As its a Renko charts, I will not give any stop loss or Target profit. However, I will update about the SELL signal to exit from such position.

Next bullish wave is forming for NSE:BANKNIFTY on Renko charts. Supertrend & Aroon crossover indicates a perfect time to enter in position on Monday. Although, Renko-Supertrend will give exit signal on their own. But, extrapolation of previous Renko Chart resistance indicates a rally till 27250 level which should be a good exit level.

Supertrend and EMA are giving a sell signal on NSE:HAVELLS on Renko Hourly charts. One can aim for 486 (t1), 470(t2) with a stop loss of 500. Although Renko charts give Buy/sell signal on their own that I will update as soon as I receives on chart.

Renko, supertrend & Aroon combo gave a bullish signal on NSE:INFY. Interestingly this is also confirmed by MACD 'BUY' Signal (not shown in this carts). Buy above 1189 for a Target of 1220(T1), 1236(T2) & 1258(T3).

Trend line breakout