INDUS BANK IND IN TREND CHANNEL TOUCHED ITS TOP CHANNEL RESISTANCE STILL ANOTHER RESISTANCE MORE TO TOUCH TO GET PERFECT REVERSAL FOR SHORT ....ANALYSE THEN TRADE.
FIND THE REVERSAL CONFIRMATION THROUGH CANDLE AND USE OF INDICATORS ANDGO FOR SHORT AFTER CONFIRMING .
As discussed on last post BNF was showing signs of strength and we opted for long options for swing trading, we have hit out tgts and now closed out longs.
From here on we may see some retracments, we are opting to stay neutral until positional trend change presents itself to us, if that doesn't happen we will enter longs again.
As discussed last time, BNF is showing strong intent, although today was rather dull but expect it to ride this series off with some gains. We are still intending to short on next series but there not yet signals for that, so we are riding off the rally.
We had losses on our intra day shorts but as soon as range was broken on upside we were able to long both index, there is still more up move we are expecting so we are planning to continue looking for bullish moves to capitalize till we get back into dried out volatility situation.
Like discussed there was some stimulating news from government for banks "Govt...
Like discussed in last post, we are getting signals of weakness in both index, it is better to short intraday or shorter time frame till we get positional signal but at the moment both index are not showing sign of much movement. This reduced volatility is not good, unless there is some +Ve news markets will have hard time moving up, usually this is the time...
Its been while, but BNF is looking at a little bit of crossroads, I would wait for right opportunity to short as we are nearing holiday month for FII. On intraday bases one can take little risk and short below last 30 min candle and positional short below 30500 level aprox, above that market might stay in range as above levels are not held and would end up just...
ICICI Bank has touched the upper line of the channel and forming (in process) bearish candles. This may lead stock correction towards 453-457 level.
May create Short around 487 level with SLTP around 500.
Short if sustains below 1423.
If goes upside instead of downside, wait for it to sustain over 1430.
If sustains under 1423, will expect till 1410.
If goes upside, 1440-1441 will be next hurdle.
HEAD & SHOULDERS PATTERN IN ASHOK LEYLAND
75-80 IS THE IMMEDIATE SUPPORT ZONE. IF SUSTAINS ABOVE 80 IN NOVEMBER THEN WE CAN SAY THAT THE TREND HAS CHANGED IN LONG TERM. OTHERWISE THE RALLY SHOULD CONTINUE DOWNWARDS.
BEARISH DIVERGENCE OVER PAST FEW DAYS NOW. SO THAT WILL HELP TOO.
IF IT SUSTAINS BELOW 75 OR OPENS GAP DOWN IN NEXT SESSIONS,...