What's next Nifty 50? Nifty has struggled this week to gain potential. But now if you observe Head & Shoulder pattern is going to formed with nested pennant structure. As you can see It made a new higher-low but closed above the demand zone. Either it sustain or break but in both cases it going to bounce from yellow dotted volatility demand zone.
Points to be Note (Technical + Fundamental)
1. Head & Shoulder nested pennant formation has been seen for the bull run.
2. FII has bought 1440 Cr of equity as compare to DII who were sold 1600 Cr of equity but it's positive as FII have being buy from last 2 session.
3. World bank has posted a expected GDP growth till 2021 is NSE:NIFTY 8.2% and anticipated the 2021-2022 FYI growth above 10%.
Let me know in comment section what's your views?
Sensex
TIME TO EXIT FROM EQUITY HOLDINGSKindly exit from all your equity holdings and forget market for next 1 years as investment. We can miss only 5% to 10%. The probability of 20% sudden downfall is open. S&P 500, NASDAQ , DJI are near their long term resistance. Money is rotating from one sector to another. Those stocks in which public holding increasing, they are not moving up. What happen to PSU BANKS, kindly see chart of last 15 years. Once stock are sold to public, support had been taken out by Institutions. Now they accumulated it from last 1 year and now it time to repeat this game. Nothing is new under the sun in the stock market, it's as old as hills.
#GREAVESCOT #ENGINEERING #ENGINERSIN #MACHINERY #EQUIPMENT 11%+ Greaves Cotton Ltd
#GREAVESCOT
NSE:GREAVESCOT
CMP: 145.35
Target: 170++
May hold above 170
Stop Loss: 127
Time Frame: Approximately 3 months.
Factors:
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Fundamental are strong.
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming
The stock has potential to go beyond 200 in longer time.
Compare with peers NSE:LICHSGFIN , NSE:DHFL , NSE:IBULHSGFIN , NSE:HDFC , NSE:HUDCO .
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With 💚 from Rachit Sethia
Nifty starts a RallyNifty witnessed its daily momentum going back to buy mode. The hourly chart above shows an attempt to break out on the upside of this triangle that would be successful once we close above 14770. an impulsive move upwards has been presumed from the low of wave E and apart from any small dip should continue to drive us higher. The only thing still missing are volumes, which is definitely needed for a successful breakout.