Nifty(9872): Close below Megafone support....
Going forward till price trades below 9950-9965 trend will remain weak
Break below 9810 with volumes will open for further downside towards 9710-9680
If 9810 manages to sustain then there will be relief upto 9950-9965
With 23.6% retracement of 7890 to 10178 @ 9640, expect 9640-9680 levels to be short term bottom and...
NSE:MARUTI is ready to give some correction
Maruti shows declining MACD, which is ready to give a crossover
CMP - 8068
Sell maruti with target off 7900 / 7750 / 7500
SL - 8200
1. Candle - Bullish Engulfing
2. Support and Resistance - Price close to Resistance
3. Volume - Volume above 20 days MA
4. DOW Theory - Trading Range??
5. Indicators -
RSI - climbing to 70
MACD - Crossing redline
6. Risk ratio greater than 1
As mentioned in charts, Aiming if swing retraces back as anticipated and bearish momentum continues::
Short - TP = 410, 405, 390, 388 and beyond (if breakdown)
Take SL as per risk appetite
The retracement also derives strength from %William also showing downtrend and also from bearish MACD crossover..
NOTE: The company appears good from fundamental prospects so...
could be double top at 10150-10180 levels great risk reward for shorts on nifty stop loss at 10200 targets 9950/9900/9800,negative divergences of price with RSI & MACD can be seen on nifty daily charts
Motherson sumi broke out above 1 month old falling trendline. The stock saw very strong volumes today. It also crossed above its 20 & 50 DEMA today. MACD indicator too gave a +ve crossover. I expect stock to move towards its recent highs of 340 in few days. We hold.
L&TFH isnt able to break 210 handle as u see doji/shooting star/spinning tops it seems there is pressure on upper side
North Korea problem has resurfaced so my bet is that it would be hard to Breach 210 for this Month
Macd seems to be going to converge on side side
Stochastics shows overbought stock so it will retrace or consolidate before new rally
L&TFH 210...
Buy Karur Vysya Bank above 151
It can also be observed that MACD is also mimicking the rounding bottom of the price action.
T1: 170
T2: 190
T3: 210
SL: 137
nifty is going without conviction RSI and MACD is giving WEAKNESS signal and a DOUBLE TOP or Elliot Wave 5-A-B formation until it crosses 10138 with huge volume.
Sell Below 9950. If it happens means a BULL TRAP is progressing. Watch Level 9950.
1. Clear A-B-C fall in formation.
2. Clear 5 waves fall in formation in the C wave. Referring to weekly and day chart.
3. Positive divergence in RSI ( 9 and 14 period ). MACD ( slow and fast )
4. 62% retrace of the rise from 119 to 1263 is a 552.
5. Previous weekly consolidation zone in 609 to 487 ( expanded range )
6. Month timeframe slow stoch in oversold zone....
