Just like Nifty, Bank Nifty formed a bearish engulfing near top and chances are high that from here prices may reverse.
Short Sell Bank Nifty
Sell Below 38800
SL Above 39800
Target 1 36000
Target 2 35000
NSE:NIFTY is near the trendline from the high made in October last year. Breakout point is around 17800 but it may turn out to be a false breakout, if that happens. RSI is high and when RSI breaks the trendline on closing basis, we might have a confirmed trend reversal which could last for sometime. Exiting longs above 17800 may be a good idea. Keep an eye!
Stock Name = ACC
ACC has formed Weekly Bearish engulf Pattern which indicates Reversal from the top.
Bearish Engulf can be confirmed by Weekly Bearish Divergence.
Clear short has been formed technically indicates sell.
Important Support and Resistance has been drawn in the Graph.
The stock formed double top pattern and closed below the neckline.....
In the RSI Indicator it shot up from a over sold zone to the over bought zone to give a strong pull back......to form a clear double top pattern.......
The Market is in down trend.....
I think we can short......what is your opinion?
We can short Axisbank if the RSI Breaks the trend line for a target levels as mentioned in the chart. If the stock breaches the resistance, it will fly high. Always keep stoploss.
Share your valuable feedback.
Disclaimer : Do your own analysis before taking any trade. This view is for educational purposes only
This is my first view on Eicher motor. After learning from the last 1 year.
In Eicher motor one can go for short for 1 to 2 weeks.
It shows the divergence on the daily candlestick pattern.
target 1:- 18500-18400
target 2:- 17500-17300
target 3:- 16500-16300
correct me if I am wrong.
Any suggestion most welcome
thank you !!!
Sunpharma Overbought RSI
Resistance around 550-580.
On upside we may see
the level of 560 in short term.
Support is around 510-485
If you like, just hit thumbsup button
or comment and share.
Updated on : 01-Aug-2020 11.00pm
Disclaimer: Only for learning purpose.
The index bounced back today after correcting during the week. As mentioned that the narrow range candles have created value area which will act as resistance in the coming weeks. The weekly candlestick pattern is not very encouraging for bulls. We have an immediate support at 12130 levels, Nifty is expected to hold on to this to maintain the gains. Above this...
HINDUSTAN UNILEVER LIMITED: The stock had a fabulous run in the last few months. In the last few weeks, the stock displayed a loss of momentum and correction occurred. Now the stock took a hit at an important pivot and corrected. The stock has minor support at 1995 – 2000 levels below which there may be a further correction to 1920 levels. However, a move above...
BANK OF INDIA: Banking stock specially PSU banks have kept up bank nifty. All PSU banks are strongly poised to move up. The prices have moved up from the daily TS, as of now the prices are inside the kumo, once a breakout is registered the Bank of India is expected to reach 83 levels, the next level of resistance. Till the prices are above 63 the analysis stands true.
NIFTY: Daily price action has created a resistance on the chart. Now 12015 (spot) levels will be acting as resistance. The dominant trend is up, the prices are trending above the kumo indicating strength. Momentum has slowed a bit, however it is expected to pick up in the coming sessions if 11820 holds on closing basis. Below 11820 Nifty may drift down 11560...