Get started

Resistancebroken

PostMortem on BankNifty Today & Analysis of 27 APR 2023 - expiryMonthly Analysis In this monthly series NSE:BANKNIFTY has moved up 2958pts ~ 7.40%. By any standards that is really superb. It has taken out 7 crucial resistances in the process and is now exactly at the 8th resistance point. This outperformance is cementing India's growth story to the global financial markets. Everywhere else the news of bank collapse, credit issues were making the headlines and here our banks have made credible progress. --- Weekly Analysis Banknifty has gained 691pts ~ 1.64% in this expiry week. 22% of the monthly gains came in its last week. We all know April series was cut short by lot of holidays and this was the first full week we really had. We took out only 1 resistance this week i.e 42576. Banknifty is on the verge to take out the next resistance of 43012 soon. --- Daily Analysis Banknifty opened inline and had a long shadow in its first candle. For a month I thought we might have a red day today. The global hand over was negative - so took the liberty to assume we will also fall today.  Once the opening minutes of volatility was done with, we had a range based trade till 13.15. After that we started picking up the direction. This was where my analysis went wrong. Looking at the options data, I was expecting nifty50 to go up and banknifty to go down. The break direction was not down, but up and we made a nice and strong bullish pattern to end the day. The resistance of 43012 was tested at 15.10, since we ran out of time we did not see a short-covering at this level. Already all the option premiums were near zero. Comparing with Nifty50, banknifty options had some price volatility on the CE side, but again the rally came very late in the day and most of the option traders would have lost patience by then. --- NSE:NIFTY had a steady and upward tilting pattern the entire day and its options data was suggesting the bullish move. Never in the day Nifty50 looked tired or negative - it had more momentum and strength compared to banknifty today. --- Coming to the 15mts of banknifty, the price action formed is bullish with stability. We can think of the range based consolidation over for now. --- 1hr TF is also showing immense upward strength. The bulls have really made the banknifty proud this entire weekly & monthly series. to see all 8 charts discussed today visit viswaram. com
NSE:BANKNIFTY
by viswaram
Possible trend breakout in Railtel?From the past few months stock was in a down trend, now it has finally given breakout from its consolidation. Previously price level of 105-108 was acting as a resistance, now price has closed above this level indicating a possible shift in the trend. If stock manages to sustain above this price, we can expect a decent rally in coming days. All possible targets are marked on the chart. Stop-loss can be maintained at 96. This is just a view, not recommendation to trade. Do your own analysis before making any investment decision. Do like, share and comment your thoughts. NSE:RAILTEL
NSE:RAILTELLong
by varun_devadiga
Possible trend breakout in LXCHEM?Stock has been consolidating from past one year after a giving a strong rally of more than 300%. On 19/04/23 stock has finally given breakout from its downtrend. Price level of 275-280 which was acting as immediate resistance for the stock has been broken. In this week, if price manages to close above this level we can expect a decent rally in coming days. All the possible targets are marked on the chart. Price level of 250-220 should act as immediate support. One can maintain stop loss at 200. About Fundamentals of the company, Laxmi Organic Industries Ltd is primarily a B2B business, currently operating in two verticals namely, Acetyl Intermediates (AI) and Specialty Intermediates (SI). The company is one of the India’s largest manufacturers and exporters of ethyl acetate, with a market share of approximately ~30%. Also, it is India’s only manufacturer of diketene derivatives, with a market share of approximately ~55%. The upcoming fluorochemicals (FI) vertical is under capitalization. This will attract more investors in coming days. This is just a view not a recommendation to trade. Do your own analysis before making any investment. Share your opinion in the comment section. NSE:LXCHEM
NSE:LXCHEMLong
by varun_devadiga
2
KEI Industries: Todays Stock Another beautiful Chart of Indian Stock Market, KEI Industries is too eager to cross its 52 Weeks high of 1730.95 and set a new all-time high. On 1 Hour Time Frame, it has already broken the resistance at 1678, with price action after breaking the TREND LINE at 1645. The entry level is 1685 with SL of 1673 and the chart is all set to make a new all-time high while facing resistance at levels 1705 and 1726. Please Boost my analysis, if I am able to make charts understand, in an easy and interesting way. Good Luck
NSE:KEIShort
by chakraveer1104
2
Exide Industries, A Potential benefiter of EV push. Midcap The stock has B/O a historic resistance with good volumes and big bullish candle. the stock may retest the B/O levels before the rally. Place the stop loss according to your analysis and risk appetite. Nifty Midcap 50 Index has been B/O from its resistance so is this stock. The EV push and the capacity of Exide Industries will be an catalyst the stock can be traded for a short term gains or for a long term holdings. Will be good stock to hold and diversify the portfolio. This is not a recommendation. this is my view for the stock I and urge you all to do your own research and analysis before investing. Note. Nifty has been in a bull rally since few weeks now and a small correction can be seen in coming days. A red candle bigger than previous one day / two days candle is the sign to sell and to save the capital. (applies to all short term positions of the trade) once the capital is saved we can take another trade at any time. Cutting the losses is the key. I have attached below the links for related ideas, please have a look and share your opinions on that in the comment box below. Thank you see you soon with another idea.
NSE:EXIDEINDLong
by harshith67
Man Infra Construction Ltd. EMA cross, Resistance B/O and retestMan Infra Construction has taken good support at fib 0.5 ( from March 202 lows to the all time high) and consolidated and reversed. the levels are placed and described. targets are from upcoming resistance and Fibonacci reversal from ATH to reversal level. Place your stoploss accordingly. Financial results were good and it has goo dividend payout. Note. Research ideas are for educational purpose and to learn technical analysis. Always be patient and do not fall in love with stocks and pull down your stop losses, Exit at your targets if you are a swing trader or add on good opportunities for long term.
NSE:MANINFRALong
by harshith67
HINDCOPPER - Bullishness?HINDCOPPER has given a trendline Breakout and also Resistance Breakout with Good volume in D1 Timeframe. It took support from Multi-Year Trendline which was broken in Feb 2021. One can go long with 50% quantity above day high and wait for a retest opportunity to enter with remaining 50%. Keep your Recent swing low and Trail. Note : HINDCOPPER is going to release their Q2 Result on August 13. Disclaimer :- I'm not a SEBI registered analyst. This all are my personal view. Information given is for educational purposes only. Do your own analysis before investing.
NSE:HINDCOPPERLong
by abhijit2608
Major Resistance Breakout In Infy Daily ChartOn 20-07-2022, we can see breakout of recent resistance, Supporting to that now we can see good candle is forming , morning it retested its previous resistance , which now turned as support. For the confirmation it should close above 1526 level today(21-07-2022). If you watch properly we can see head and shoulder pattern and its neck line also broken. Which is supporting for upside movement. But problem is only with its zone. Now it has a potential to reach 1554 range. If it broke that level properly then only we can see Upside. Gap may act as major resistance. Once it break that it will go till 1732 range. This is just a view not recommendation to trade. Do your own analysis before taking trade. NSE:INFY
NSE:INFYLong
by varun_devadiga