Resistence
BANK NIFTY Trying to Reached Support Level Between 23500-2400 BANK NIFTY Trying to Reach Support Level Price Between 23500-24000 and then can bounce Back to Next Resistance Level Around 30000 if Support Failed to Hold this Price level then you can see a Big Crashesh upto Next Levl 20000 Around.
But Dont Forgot to use StopLoss
Let c ....
Stay Tuned.......!!
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L&T - Trendline brokenL&T has broken major trendline support of the upmove since Feb 2016.
So long as it stays below 1260 levels, we are likely to see levels of 1184 and 1117 if 1184 is broken.
Good opportunity to short here with a stop loss of 1260.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
Cipla – Topped out ?Pharma index witness mayhem today due to bad news from US with Dr. Reddy plunging 10%.
Cipla NSE:CIPLA seems to be the only stock which was hammered relatively less today.
However, I can see that the stock is struggling around 78.6% of previous downfall for many days and looks close to a breakdown.
Looks like it is heading for a first target around 600 levels.
Good opportunity to short here with a small stop loss.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
SHORT : Divergence & multiple resistanceClearly divergence in MACD and RSI are telling the forthcoming weakness that too at the level of multiple resistance so one can take chance by shorting the stock. STOP LOSS Little above the recent high. Just to mention that divergence at the top are relatively tricky comparing to formed at bottom.
#YESBANK - Consolidation breakout/50 SMA ResistanceYESBANK has a strong resistance around 318. The stock consolidated in a 20-point range after fall from 52-week high. Looks like it has made base around 300-305 and is on the verge of breakout above 318. Stock is also near 50 SMA which will act as a resistance & if it manages to close above it, then it will likely resume uptrend.