NSE:TORNTPHARM has made a bearish harami on weekly candle. If 1507 is taken out on downside and a close comes below that, I would be looking for 1481, 1461 and 1452 levels on the downside.
Depending upon your risk appetite, enter the trade either in cash or in options. Let's see how the story develops. Best wishes!
Disclaimer -
- The opinions expressed here...
NSE:CUMMINSIND making rising wedge on weekly charts and also has formed a evening star candlestick pattern. With a SL of 1666, one can short for T1 of 1552 and T2 of 1518.
Let's see how the story develops. Best wishes!
Disclaimer -
- The opinions expressed here are my own. This is for my own records as well as what I see on charts.
- If you are referring to...
NSE:BRITANNIA is looking weak on weekly chart as its making bearish engulfing candle. Also closing below last week's low and showing weekly fractal support breakdown.
Looking for 4041 and 3949 on downside. SL is relatively small of 4255. Better to short this in cash and not play in options cos one spike can take away your SL in option trade.
Let's see how...
NSE:TRENT is looking weak on weekly chart as it has made a bearish engulfing candle. Also closing below 20 EMA on weekly.
Looking for 1279 ( 50 EMA weekly support ). If a close comes below this, we can 1256 & 1231 on downside. SL is relatively small of 1345 which is Friday's high. Better to short this in cash and not play in options cos one spike can take away...
NSE:CHAMBLFERT closed last week with bearish marabozu candle. It's at a pivotal weekly support of 260.8. If the price moves below that and closes below 256 which is monthly support expect the stock to test 237 and 208 levels positionally.
Short the stock in cash if you'd like and if you have the risk appetite then take an option trade cos any sideways action...
NSE:CNXMETAL index is looking weak on charts with multiple bearish formations in place. Referring to candlesticks, last week's close has come with 3 inside down candles. Though this candlestick pattern is not completely reliable, it suggests price making lower lows and the index is witnessing pressure!
On last week's candle, it also formed a bearish marabozu...
NSE:ADANIPORTS is making bearish engulfing on weekly and that makes it a perfect short candidate for next week as long as it closes below 690 on todays weekly close. Also Fibonnaci shows retracement on downside and also getting rejected from trend line resistance.
One can carry shorts with SL of 710. Expecting 638-640 levels on the downside.
Let's see how...
NSE:ITC is looking weak on daily and weekly charts. ADX just crossed 25 ( threshold that I consider ) for directional movement. The downside momentum can continue for targets mentioned on the chart as T1, T2 and T3. The conviction comes from simple price action setup ( weekly doji close and the current week candle closed below doji close ) and open interest...
According to price action, NSE:PIDILITIND is showing signs of exhaustion and weakness. Reasons why I think this is a short candidate -
1) Both the Daily and Weekly candles appear to be weak.
2) Future OI has been unwinding long for the last 5 days, and there was short build up in this stock today as well.
3) DTF has formed a bearish marubozu candle.
4) For the...
NSE:INDUSINDBK is a short candidate on 1 hour timeframe. Couple of pointers to note -
Strong bearish candlestick has been formed on this timeframe.
It can give movement up to the breakdown target of 1140. Intermittent targets are reflecting on the chart
One can short this stock by placing a stop loss above 1218
Looks like a good R:R trade
Let's see how...
NSE:NIFTY is still a sell on rise candidate on DTF & WTF basis. Overall view still bearish as the index is still trading below 20/50/100 EMA
Any upside will be just a pullback retracement rally,. Potential bearish pole and flag patten in the making and such pattens do attract 38.2%, 50% and 61.8% levels which are depicted using Fibo levels. A 72.8%...
