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Stock Positional Idea EquitasStock Has Given Excellent Breakout & after Consolidation phase it started to move.
Now The rally may become in action. Tgt & SL Derived in Chart.
Vaibhav Global new lifetime high & C&H pattern in daily chart.1. Stock has closed firmly above its lifetime high at 1165, C&H pattern is observed in daily chart breakout level at 1105.
2. RSI negative divergence is observed in daily charts, go long on retest & reversal from the zone b/w 1105 & 1165.
Inverted H&S in Reliance in weekly charts.Inverted H&S pattern is visible in Reliance weekly charts neck-line is at 1585; pattern target at 2250.
Entry 1.: One can go long on the stock on dips as long as it holds above 1393 levels.
Entry 2.: Alternatively upon a weekly close above previous lifetime high of 600-605 levels any subsequent pull-back to 1585 level may be utilized to go long with a stop placed below 1393 for targets of 2050 & 2250.
MidcapThe Nifty midcap50 trading near support on daily chart last time also bounce from this level and now again Midcap index can bounce from 4,300 level. Midcap near support this is good for Index but Nifty and Banknifty not near support this can cause of downside in midcap. Midcap can break these support if Nifty try to catch support. Midcap index facing resistance at level 4,700-4,600 level.
The nifty weekly chart has strong support at level 4,100 and this level will be the most important level for midcap if index break this level we can see another 10-20% fall in the midcap sector. Currently Midcap have range 4,200-4,800 level.
BankniftyNifty Bank in daily chart looking for support level but support at 23,500-23,750 but these levels far from current market price that is 24,421. Bank Nifty can bounce from support levels currently according to daily chart no trading zone in Banknifty,.
Banknifty Weekly chart indicating 20,900-20,000 levels as per Uptrend channel pattern but same as Nifty daily chart levels playing important role. So, if we mix daily and weekly chart so levels indicating 20,000-21,000 level but only if Banknifty trade below 23,500 levels. Weekly chart facing resistance at level 25,500.