Technically, Dow is really at a critical zone. Keeping in mind that Equity is a growing asset, today's DJ:DJI session would be very Important. DJI has given a close below its neckline and completed its Pattern. There are concerns of recession as well. Will the DJ:DJI fall and complete its target or there will be pattern failure? Here ADX is showing above 24,...
Following Chart is of Honeywell Automation which Clearly shows Tweezer Bottom at the Support Level of @39130
The trend must get reversed with Targets anywhere around @48000 to @50000 if the Strong Resistance Level is Broken @45000
The RSI is just reversing from the Oversold Region which hints a nice time to buy.
All in all you will end up with a sweet 11% profit...
NBVENTURES | Strong RSI divergence (Lower time frames), oversold in Daily time frame. Bounce and breakout from the falling wedge can give us
CMP : 47.50 (Ideal to enter @ 46.50)
SL : 44
Target : 58 or exit near the trendline as it is getting narrow.
Almost 1:6+ risk reward setup
P.S : Trade with very lite position size as the volume history is not stable...
MANAPPURAM | Seeing a Flag formation in Daily time frame & Weekly time frame shows strong rejection in downside.
After a scary H&S pattern the stock gave Wedge breakout but broad market pulled the price down again.
Personally one more strong conviction it has taken a great 20 EMA support in Weekly pattern.
CMP : 153
Strong demand zone : 140
Target : 180,190
Coalindia is oversold on monthly levels
Weekly RSI is showing some recovery
on Daily chart its making a triangle formation
Buy above close of 135
T1 = 145
T2 = 165
T3 = 195 and more as per Fib levels
SL = 118
(1) Price and strength of rally: Today, TCS though has declined , strength of decline has weakened. This is demonstrated in the net change in closing price. Previous close was at 1658. Today, closing price is 1654.
(2) RSI: Let us sift price drops and corresponding RSI at the bottoming out. Historically, TCS has witnessed much higher RSI at bottom...
The stock has made healthy retracement and have now it’s resting on the Kumo. Today’s price action was quite convincing to re-establish the buyers into the stock. The RSI is taking support on the bullish extreme levels with MACD curling up indicating momentum is picking up. If ONCG gets overall support from Nifty, the stock is expected to pull up strongly from...
SUNPHARMA: The stock bounced off from a very strong support level. The momentum is supporting buyers. The RSI is well into the bullish range along with MACD which seems to be comfortable in bullish area too. A minor resistance is hindering the move at 430 above which a move past 500 levels are expected.
IDFC FIRST BANK: The stock has taken support at multiple pivots and bounced with strength. The momentum is positive as shown by MACD as it is above the zero line in positive mode. The RSI is displaying strength above 50 levels on the daily charts. A strong close above 43 will be very positive with stock and it can move to 46 levels. A move below 40.50 will not be...
Giving a look at the Nifty weekly chart. The index is moving into gap zone plus RSI is near 60 levels. Though the daily charts don’t display any caution yet, but 60 levels on weekly’s are pressure points. The week is still on, so the analysis will make sense only after the weekly close by Friday. But the exuberance is building up, emotion outburst are generally...
The stock seems to be into a corrective pullback. The RSI is halted near 60 levels and curled down. The correction may take the shape of ABC pattern. Breaking of the upward sloping channel will confirm the pattern.
The pair has plunged after the Australian CPI data.
Now, it has formed an inverse head and shoulder pattern in the 15-min chart.
Also, the RSI indicator has backed up the bullish reversal formation with an inverse head and shoulder pattern of its own.
Hence, we expect the pair to pullback from the lows to the resistance of 78.870.