Daily Renko Charts (Brick size: 1.97) & Supertrend Combination are giving a buying position for NSE:ARVIND for next week. One can enter a bullish position in Future/Options for August Expiry.
As its a Renko charts, I will not give any stop loss or Target profit. However, I will update about the SELL signal to exit from such position.
Next bullish wave is forming for NSE:BANKNIFTY on Renko charts. Supertrend & Aroon crossover indicates a perfect time to enter in position on Monday. Although, Renko-Supertrend will give exit signal on their own. But, extrapolation of previous Renko Chart resistance indicates a rally till 27250 level which should be a good exit level.
Go for long on NSE:NIFTY F/O for this month. Supertrend, a reliable indicator has given a buy signal for today accompanied by MACD Bullish signal.
Buy NIFTY today aiming for a medium term target (Till April Expiry) of 10625(T1) & 11170 (T2).
A Stoploss of 10100 is highly recommended!
Existing Supertrend signals changed to Channel , so we will get idea of resistance as per ATR when signal is Long in supertrend and Support when Supertrend signal is short
This system created for study purpose and buying or selling as per this not suggested
NSE:NIFTY seams to be in bearish phase on Renko hourly charts. 3-4 indicators suggesting a bearish trend.
1. Renko hourly charts changing direction & colour.
2. Supertrend bearish Signal
3. Renko bearish indicator crossing up the bullish one.
4. EMA10 crossing above Renko bars.
Take a sell postion till the trend changes. I will update about trend change.
1) NIFTY on day chart has been trading withing a symmetric triangle since early Feb
2) Trading below 89 DEMA and 144 DEMA and SuperTrend giving a sell signal. We can ignore this sell signal as long as Nifty trades above 10170 on weekly close basis. In a trending market lagging indicators tend to give false signals upon a pull back/correction.
3) A break above...