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SENSEX SHORTSo here is an analysis of another index 'SENSEX'. Let us understand price action of SENSEX in detail! (OPEN THE CHART FOR BETTER UNDERSTANDING) Firstly, if you have a look at the second last (green) candle here, it is clear that this candle was not able to sustain above a major resistance line (yellow line). Secondly, today the price shot up the major resistance line, but experienced selling pressure near its all time high (ATH) and wasn't able to sustain above the major resistance line. We can say that Sensex today gave a FAKEOUT (Fake breakout). In addition to that, Sensex formed a bearish engulfing pattern which shows weakness ahead. Talking about indicators, RSI is facing downward after showing weakness. Sensex is travelling in the upper band of the Bollinger Band, and hence it is due for a correction. (I haven't applied bollinger bands here as it will mess up the chart and it would get difficult for you to understand. You can put bollinger bands yourself and check) All this shows weakness in SENSEX, hence I would recommend being stock-specific FOLLOW IF YOU LIKE THE ANALYSIS. LIKE AND COMMENT WHAT YOU THINK ABOUT THIS. COMMENT IF YOU HAVE ANY DOUBT ON THIS ANALYSIS. THANKS
BSE:SENSEXShort
by Keshav2329
BHEL SHORTLooking at the daily chart of BHEL, you can see a simple price action pattern which is explained below. (OPEN CHART FOR DETAILED EXPLANATION) Firstly, it is visible that BHEL has given a brilliant bull trend from December'20. Presiding the uptrend, an accumulation phase can be seen and then a breakout form that phase caused the uptrend. Now, according to price action theory, the stocks' uptrend is firstly accompanied by an accumulation phase (as marked) and then a uptrend and then a distribution phase (as marked). Following the distribution phase, weakness is expected in the stock. (OPEN THE CHART FOR ALL THE MARKED PHASES AND LEVELS) To sum up, BHEL has first seen an accumulation phase, then a breakout from accumulation phase causing a good uptrend and now BHEL is seeing a distribution phase (consolidation after an uptrend). Hence, it is expected that we can see weakness in the stock in upcoming days, given it breaks the distribution phase rectangle (marked) in a negative way. If it breaks the distribution phase triangle from upside, one may look for buying opportunities. I would recommend a 'SELL' signal (50% quantity sell) on BHEL for now. FOLLOW IF YOU LIKE THE ANALYSIS. LIKE AND COMMENT WHAT YOU THINK ABOUT THIS. COMMENT IF YOU HAVE ANY DOUBT ON THIS ANALYSIS Thanks
NSE:BHELShort
by Keshav2329
6
Lupin, Swing/PositionalSimple analysis for Lupin! It has been consolidating between 1175 and 1246 from the beginning of this month. A break above can be traded for fibonacci pivot targets, and a break below the consolidation range can be traded as a short position for a target of 50 EMA. Make sure to trade what happens and not what you expect :) Note: Please do not follow my idea blindly, please analyze yourself as well. I just share my idea so that people can build upon the same. The idea I share is open to healthy criticism and feedback :)
NSE:LUPIN
by dakshjain76
Hindalco, SwingHindalco is forming a symmetrical pattern and can break either side of the triangle. A break above can be traded for long position for targets of 411 and 426. A break on the downside can be traded for short position for targets of 380 and 367. A downside break will lead to the price going below the 50 EMA, and the first target mentioned for 367 is the level of 200 EMA. Make sure to trade what happens and not what you expect :) Note: Please do not follow my idea blindly, please analyze yourself as well. I just share my idea so that people can build upon the same. The idea I share is open to healthy criticism and feedback :)
NSE:HINDALCO
by dakshjain76
2